# EDGAR Filing Document

**Accession Number:** 0001064046
**File Stem:** 0000913181-26-000253
**Filing Date:** 2026-3
**Character Count:** 31351
**Document Hash:** c9988556514dfea70513810041a8758d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000913181-26-000253.hdr.sgml**: 20260302

**ACCESSION NUMBER**: 0000913181-26-000253

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260302

**DATE AS OF CHANGE**: 20260302

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** RYDEX VARIABLE TRUST
- **CENTRAL INDEX KEY:** 0001064046

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08821
- **FILM NUMBER:** 26705230

**BUSINESS ADDRESS:**
- **STREET 1:** 702 KING FARM BOULEVARD
- **STREET 2:** SUITE 200
- **CITY:** ROCKVILLE
- **STATE:** MD
- **ZIP:** 20850
- **BUSINESS PHONE:** 301-296-5100

**MAIL ADDRESS:**
- **STREET 1:** 702 KING FARM BOULEVARD
- **STREET 2:** SUITE 200
- **CITY:** ROCKVILLE
- **STATE:** MD
- **ZIP:** 20850

## Series and Classes Contracts Data

### Energy Fund (Series ID: S000003714)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010383 | Variable Annuity |  |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Rydex Variable Trust

- **b. Investment Company Act file number:** 811-08821

- **c. CIK number of Registrant:** 0001064046

- **d. LEI of Registrant:** 549300LJH0YR8RY3N305

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 702 King Farm Blvd., Suite 200

  - **City:** Rockville

  - **State:** MD

  - **Foreign country:** US

  - **Zip / Postal Code:** 20850

  - **Telephone number:** 301-296-5100

**Item A.2. Information about the Series.**

- **a. Name of Series:** Energy Fund

- **b. EDGAR series identifier (if any):** S000003714

- **c. LEI of Series:** 549300U94DM6WS1H2223

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-12-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $8183058.96

**Total Liabilities:** $42706.70

**Net Assets:** $8140352.26

**Cash Not Reported:** $2083.66

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000010383 | -0.76%               | 2.85%                | -1.97%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $255484.61               | $-366433.47                                |
| Month 2  | $65244.86                | $223733.63                                 |
| Month 3  | $378163.17               | $-632199.91                                |

### Schedule of Portfolio Investments

| Name                           | Title                                | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Sable Offshore Corp            | Sable Offshore Corp.                 | CUSIP: 78574H104<br>LEI: 254900IMMKZUOZF7V487 | Long             | EC               | CORP              | US        |      3584 | NS      | $32327.68     | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Plug Power Inc                 | Plug Power, Inc.                     | CUSIP: 72919P202<br>LEI: 549300JPDKRSJ8JSM954 | Long             | EC               | CORP              | US        |     12398 | NS      | $24424.06     | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| CNX Resources Corp             | CNX Resources Corp.                  | CUSIP: 12653C108<br>LEI: 549300JK3KH8PWM3B226 | Long             | EC               | CORP              | US        |      1406 | NS      | $51698.62     | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Energy Fuels Inc/Canada        | Energy Fuels, Inc.                   | CUSIP: 292671708<br>LEI: 529900P0GCATXMGK8I62 | Long             | EC               | CORP              | US        |      2884 | NS      | $41933.36     | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| APA Corp                       | APA Corp.                            | CUSIP: 03743Q108<br>LEI: 549300VCIWLRHYVSHC79 | Long             | EC               | CORP              | US        |      2932 | NS      | $71716.72     | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Halliburton Co                 | Halliburton Co.                      | CUSIP: 406216101<br>LEI: ENYF8GB5SMQZ25S06U51 | Long             | EC               | CORP              | US        |      3971 | NS      | $112220.46    | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Targa Resources Corp           | Targa Resources Corp.                | CUSIP: 87612G101<br>LEI: 5493003QENHHS261UR94 | Long             | EC               | CORP              | US        |       836 | NS      | $154242.00    | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Denison Mines Corp             | Denison Mines Corporation            | CUSIP: 248356107<br>LEI: 529900JWGSW17LJK6586 | Long             | EC               | CORP              | US        |     19018 | NS      | $50587.88     | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Expand Energy Corp             | Expand Energy Corp.                  | CUSIP: 165167735<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | EC               | CORP              | US        |      1143 | NS      | $126141.48    | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Magnolia Oil & Gas Corp        | Magnolia Oil & Gas Corp.             | CUSIP: 559663109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2248 | NS      | $49208.72     | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| ConocoPhillips                 | ConocoPhillips                       | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |      2818 | NS      | $263792.98    | 3.24%             |  |  |  | No            |                  1 | On Loan: No      |
| SolarEdge Technologies Inc     | SolarEdge Technologies, Inc.         | CUSIP: 83417M104<br>LEI: 5493000K6Y58XXPDF853 | Long             | EC               | CORP              | US        |      2765 | NS      | $79770.25     | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Williams Cos Inc/The           | Williams Companies, Inc.             | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |      3499 | NS      | $210324.89    | 2.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Frontline PLC                  | Frontline plc                        | CUSIP: N/A<br>LEI: 5493004BCIKYU1YL3H63       | Long             | EC               | CORP              | US        |      2622 | NS      | $57212.04     | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| EQT Corp                       | Equities Corp.                       | CUSIP: 26884L109<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | EC               | CORP              | US        |      2640 | NS      | $141504.00    | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Centrus Energy Corp            | Centrus Energy Corp.                 | CUSIP: 15643U104<br>LEI: 549300G6VDK9G8276661 | Long             | EC               | CORP              | US        |       143 | NS      | $34714.68     | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Cheniere Energy Inc            | Cheniere Energy, Inc.                | CUSIP: 16411R208<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | EC               | CORP              | US        |       822 | NS      | $159788.58    | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Phillips 66                    | Phillips 66                          | CUSIP: 718546104<br>LEI: 5493005JBO5YSIGK1814 | Long             | EC               | CORP              | US        |      1323 | NS      | $170719.92    | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| HF Sinclair Corp               | HF Sinclair Corp.                    | CUSIP: 403949100<br>LEI: 2549009G116AM01XHN24 | Long             | EC               | CORP              | US        |      1411 | NS      | $65018.88     | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| ONEOK Inc                      | ONEOK, Inc.                          | CUSIP: 682680103<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | EC               | CORP              | US        |      2297 | NS      | $168829.50    | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp               | Exxon Mobil Corp.                    | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |      4659 | NS      | $560664.06    | 6.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Valero Energy Corp             | Valero Energy Corp.                  | CUSIP: 91913Y100<br>LEI: 549300XTO5VR8SKV1V74 | Long             | EC               | CORP              | US        |      1064 | NS      | $173208.56    | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Weatherford International PLC  | Weatherford International plc        | CUSIP: N/A<br>LEI: 529900LPBDSCQDJKHQ39       | Long             | EC               | CORP              | US        |       733 | NS      | $57364.58     | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Viper Energy Inc               | Viper Energy, Inc.                   | CUSIP: 64361Q101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2327 | NS      | $89892.01     | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Coterra Energy Inc             | Coterra Energy, Inc.                 | CUSIP: 127097103<br>LEI: FCNMH6O7VWU7LHXMK351 | Long             | EC               | CORP              | US        |      4217 | NS      | $110991.44    | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Western Midstream Partners LP  | Western Midstream Partners, LP       | CUSIP: 958669103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1945 | NS      | $76827.50     | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Cenovus Energy Inc             | Cenovus Energy, Inc.                 | CUSIP: 15135U109<br>LEI: 549300F4XPHJ7NOSP309 | Long             | EC               | CORP              | US        |      5502 | NS      | $93093.84     | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Ovintiv Inc                    | Ovintiv, Inc.                        | CUSIP: 69047Q102<br>LEI: 2549003MEX7YMKLGI239 | Long             | EC               | CORP              | US        |      1986 | NS      | $77831.34     | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Matador Resources Co           | Matador Resources Co.                | CUSIP: 576485205<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | EC               | CORP              | US        |      1262 | NS      | $53559.28     | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| SLB Ltd                        | SLB Ltd.                             | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | US        |      4715 | NS      | $180961.70    | 2.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Antero Midstream Corp          | Antero Midstream Corp.               | CUSIP: 03676B102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3344 | NS      | $59489.76     | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Patterson-UTI Energy Inc       | Patterson-UTI Energy, Inc.           | CUSIP: 703481101<br>LEI: 254900XGFBKIXD6G0697 | Long             | EC               | CORP              | US        |      6081 | NS      | $37154.91     | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| NOV Inc                        | NOV, Inc.                            | CUSIP: 62955J103<br>LEI: 549300EHF3IW1AR6U008 | Long             | EC               | CORP              | US        |      3646 | NS      | $56986.98     | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Peabody Energy Corp            | Peabody Energy Corp.                 | CUSIP: 704551100<br>LEI: EJCO258LNNVSKAR2JX59 | Long             | EC               | CORP              | US        |      1559 | NS      | $46302.30     | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinder Morgan Inc              | Kinder Morgan, Inc.                  | CUSIP: 49456B101<br>LEI: 549300WR7IX8XE0TBO16 | Long             | EC               | CORP              | US        |      6660 | NS      | $183083.40    | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| TechnipFMC PLC                 | TechnipFMC plc                       | CUSIP: N/A<br>LEI: 549300D5I93QWCJTCK36       | Long             | EC               | CORP              | US        |      1921 | NS      | $85599.76     | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinetik Holdings Inc           | Kinetik Holdings, Inc.               | CUSIP: 02215L209<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1420 | NS      | $51191.00     | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Tenaris SA                     | Tenaris S.A.                         | CUSIP: 88031M109<br>LEI: 549300Y7C05BKC4HZB40 | Long             | EC               | CORP              | LU        |      1485 | NS      | $57098.25     | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Sunrun Inc                     | Sunrun, Inc.                         | CUSIP: 86771W105<br>LEI: 54930007SJ77CI66U531 | Long             | EC               | CORP              | US        |      2649 | NS      | $48741.60     | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| California Resources Corp      | California Resources Corp.           | CUSIP: 13057Q305<br>LEI: 5493003Q8F0T4F4YMR48 | Long             | EC               | CORP              | US        |       964 | NS      | $43100.44     | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Pembina Pipeline Corp          | Pembina Pipeline Corp.               | CUSIP: 706327103<br>LEI: 5493002W3L9YICM6FU21 | Long             | EC               | CORP              | US        |      1617 | NS      | $61543.02     | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp                   | Chevron Corp.                        | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2782 | NS      | $424004.62    | 5.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Energy Inc             | Liberty Energy, Inc.                 | CUSIP: 53115L104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2193 | NS      | $40482.78     | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Suncor Energy Inc              | Suncor Energy, Inc.                  | CUSIP: 867224107<br>LEI: 549300W70ZOQDVLCHY06 | Long             | EC               | CORP              | US        |      2213 | NS      | $98168.68     | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG Resources Inc              | EOG Resources, Inc.                  | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |      1759 | NS      | $184712.59    | 2.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Marathon Petroleum Corp        | Marathon Petroleum Corp.             | CUSIP: 56585A102<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | EC               | CORP              | US        |      1006 | NS      | $163605.78    | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| NextDecade Corp                | NextDecade Corp.                     | CUSIP: 65342K105<br>LEI: 549300XB4GCLNGHFTT48 | Long             | EC               | CORP              | US        |      3854 | NS      | $20310.58     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| PETROBRAS                      | Petroleo Brasileiro S.A. - Petrobras | CUSIP: 71654V408<br>LEI: 5493000J801JZRCMFE49 | Long             | EC               | CORP              | BR        |      8206 | NS      | $97241.10     | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Civitas Resources Inc          | Civitas Resources, Inc.              | CUSIP: 17888H103<br>LEI: IIVIHPH28S64K95M2381 | Long             | EC               | CORP              | US        |      1340 | NS      | $36300.60     | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Murphy USA Inc                 | Murphy USA, Inc.                     | CUSIP: 626755102<br>LEI: 549300Y081F8XIKQIO72 | Long             | EC               | CORP              | US        |       135 | NS      | $54475.20     | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| First Solar Inc                | First Solar, Inc.                    | CUSIP: 336433107<br>LEI: 549300NPYMLM4NHTOF27 | Long             | EC               | CORP              | US        |       477 | NS      | $124606.71    | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Par Pacific Holdings Inc       | Par Pacific Holdings, Inc.           | CUSIP: 69888T207<br>LEI: 549300BTNS7MHSHRLR55 | Long             | EC               | CORP              | US        |       858 | NS      | $30150.12     | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Enbridge Inc                   | Enbridge, Inc.                       | CUSIP: 29250N105<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | EC               | CORP              | US        |      2282 | NS      | $109148.06    | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| DT Midstream Inc               | DT Midstream, Inc.                   | CUSIP: 23345M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       718 | NS      | $85930.24     | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Solaris Energy Infrastructure  | Solaris Energy Infrastructure, Inc.  | CUSIP: 83418M103<br>LEI: 529900MTK3C8Y8TIIC10 | Long             | EC               | CORP              | US        |       899 | NS      | $41327.03     | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| NexGen Energy Ltd              | NexGen Energy Ltd.                   | CUSIP: 65340P106<br>LEI: 529900N0IXNXB3IP7F06 | Long             | EC               | CORP              | US        |      6265 | NS      | $57638.00     | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Diamondback Energy Inc         | Diamondback Energy, Inc.             | CUSIP: 25278X109<br>LEI: 549300R22LSX6OHWEN64 | Long             | EC               | CORP              | US        |       862 | NS      | $129584.46    | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Comstock Resources Inc         | Comstock Resources, Inc.             | CUSIP: 205768302<br>LEI: I03QQGEA4SS774AURI46 | Long             | EC               | CORP              | US        |      1544 | NS      | $35789.92     | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| SM Energy Co                   | SM Energy Co.                        | CUSIP: 78454L100<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | EC               | CORP              | US        |      1896 | NS      | $35455.20     | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Cameco Corp                    | Cameco Corp.                         | CUSIP: 13321L108<br>LEI: N4BHALMXL3GMZKCUON55 | Long             | EC               | CORP              | US        |      1293 | NS      | $118296.57    | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Shell PLC                      | Shell plc                            | CUSIP: 780259305<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |      1741 | NS      | $127928.68    | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Range Resources Corp           | Range Resources Corp.                | CUSIP: 75281A109<br>LEI: H3Y3WLYCX0BTO1TRW162 | Long             | EC               | CORP              | US        |      2013 | NS      | $70978.38     | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| BOFA SECURITIES, INC.          | BofA Securities, Inc.                | CUSIP: N/A<br>LEI: 549300HN4UKV1E2R3U73       | Long             | RA               | CORP              | US        |     15836 | PA      | $15836.00     | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Enphase Energy Inc             | Enphase Energy, Inc.                 | CUSIP: 29355A107<br>LEI: 5493008U7KIGMI59Z314 | Long             | EC               | CORP              | US        |      1543 | NS      | $49453.15     | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Permian Resources Corp         | Permian Resources Corp.              | CUSIP: 71424F105<br>LEI: 529900NXUJPOKU7OJ511 | Long             | EC               | CORP              | US        |      5919 | NS      | $83043.57     | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Transocean Ltd                 | Transocean Ltd.                      | CUSIP: N/A<br>LEI: 529900QO4W5DQGBGEF32       | Long             | EC               | CORP              | US        |     15424 | NS      | $63701.12     | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| TC Energy Corp                 | TC Energy Corp.                      | CUSIP: 87807B107<br>LEI: 549300UGKOFV2IWJJG27 | Long             | EC               | CORP              | US        |      1524 | NS      | $83835.24     | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Pacific Land Corp        | Texas Pacific Land Corp.             | CUSIP: 88262P102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       229 | NS      | $65773.38     | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Venture Global Inc             | Venture Global, Inc.                 | CUSIP: 92333F101<br>LEI: 2549007XC91CAB3E0N98 | Long             | EC               | CORP              | US        |      7909 | NS      | $53939.38     | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Antero Resources Corp          | Antero Resources Corp.               | CUSIP: 03674X106<br>LEI: APVBKPOULHUX7YZLKU17 | Long             | EC               | CORP              | US        |      2271 | NS      | $78258.66     | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Chord Energy Corp              | Chord Energy Corp.                   | CUSIP: 674215207<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | EC               | CORP              | US        |       594 | NS      | $55063.80     | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Natural Resources Ltd | Canadian Natural Resources Ltd.      | CUSIP: 136385101<br>LEI: 549300T15RIMIKZC5Q38 | Long             | EC               | CORP              | US        |      3401 | NS      | $115123.85    | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Occidental Petroleum Corp      | Occidental Petroleum Corp.           | CUSIP: 674599105<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | EC               | CORP              | US        |      3304 | NS      | $135860.48    | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Northern Oil and Gas Inc       | Northern Oil & Gas, Inc.             | CUSIP: 665531307<br>LEI: OKFF0PIZDDMNH4UCYE51 | Long             | EC               | CORP              | US        |      1622 | NS      | $34824.34     | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Valaris Ltd                    | Valaris Ltd.                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |       766 | NS      | $38606.40     | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| PBF Energy Inc                 | PBF Energy, Inc.                     | CUSIP: 69318G106<br>LEI: 2549003PBEDCSZMZIY02 | Long             | EC               | CORP              | US        |      1306 | NS      | $35418.72     | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Devon Energy Corp              | Devon Energy Corp.                   | CUSIP: 25179M103<br>LEI: 54930042348RKR3ZPN35 | Long             | EC               | CORP              | US        |      3233 | NS      | $118424.79    | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Core Natural Resources Inc     | Core Natural Resources, Inc.         | CUSIP: 218937100<br>LEI: 549300YJCTPJBTK7IJ81 | Long             | EC               | CORP              | US        |       369 | NS      | $32660.19     | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC     | J.P. Morgan Securities LLC           | CUSIP: N/A<br>LEI: ZBUT11V806EZRVTWT807       | Long             | RA               | CORP              | US        |     15836 | PA      | $15836.00     | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Baker Hughes Co                | Baker Hughes Co.                     | CUSIP: 05722G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3601 | NS      | $163989.54    | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Kodiak Gas Services Inc        | Kodiak Gas Services, Inc.            | CUSIP: 50012A108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1187 | NS      | $44393.80     | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Murphy Oil Corp                | Murphy Oil Corp.                     | CUSIP: 626717102<br>LEI: QBKYQD0ODE7DC7PDIN91 | Long             | EC               | CORP              | US        |      1592 | NS      | $49750.00     | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| BP PLC                         | BP plc                               | CUSIP: 055622104<br>LEI: 213800LH1BZH3DI6G760 | Long             | EC               | CORP              | GB        |      2986 | NS      | $103703.78    | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Uranium Energy Corp            | Uranium Energy Corp.                 | CUSIP: 916896103<br>LEI: 549300VD69WD2USLIP04 | Long             | EC               | CORP              | US        |      6974 | NS      | $81456.32     | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Noble Corp PLC                 | Noble Corporation plc                | CUSIP: N/A<br>LEI: 549300I3HBUNXO0OG954       | Long             | EC               | CORP              | US        |      1551 | NS      | $43800.24     | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Delek US Holdings Inc          | Delek US Holdings, Inc.              | CUSIP: 24665A103<br>LEI: 5493003O53JMENV1N385 | Long             | EC               | CORP              | US        |      1044 | NS      | $30965.04     | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Golar LNG Ltd                  | Golar LNG Ltd.                       | CUSIP: N/A<br>LEI: 213800C2VSFZG3EZLO34       | Long             | EC               | CORP              | US        |      1867 | NS      | $69471.07     | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinor ASA                    | Equinor ASA                          | CUSIP: 29446M102<br>LEI: OW6OFBNCKXC4US5C7523 | Long             | EC               | CORP              | NO        |      3143 | NS      | $74269.09     | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-30

**Name of Applicant:** Rydex Variable Trust

**Signature:** James Howley

**Name of Signer:** James Howley

**Title:** CFO