# EDGAR Filing Document

**Accession Number:** 0001064046
**File Stem:** 0000913181-26-000291
**Filing Date:** 2026-3
**Character Count:** 13795
**Document Hash:** 2d8d8a107c0e349ad8553a2ae94eec93
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000913181-26-000291.hdr.sgml**: 20260302

**ACCESSION NUMBER**: 0000913181-26-000291

**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:** 26705274

**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 Services Fund (Series ID: S000003715)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010384 | 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 Services Fund

- **b. EDGAR series identifier (if any):** S000003715

- **c. LEI of Series:** 5493008C68OBZH304M86

**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:** $2734617.05

**Total Liabilities:** $13822.59

**Net Assets:** $2720794.46

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000010384 | 9.19%                | -0.08%               | 1.34%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $70317.40                | $177945.21                                 |
| Month 2  | $-30786.79               | $-33909.33                                 |
| Month 3  | $93510.45                | $-49787.89                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Kodiak Gas Services Inc        | Kodiak Gas Services, Inc.               | CUSIP: 50012A108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2226 | NS      | $83252.40     | 3.06%             |  |  |  | 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        |     12000 | PA      | $12000.35     | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| Borr Drilling Ltd              | Borr Drilling Ltd.                      | CUSIP: N/A<br>LEI: 213800J2JPCTXLHQ5R78       | Long             | EC               | CORP              | US        |     17389 | NS      | $70077.67     | 2.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Archrock Inc                   | Archrock, Inc.                          | CUSIP: 03957W106<br>LEI: 549300K3RIHMHDVFTL28 | Long             | EC               | CORP              | US        |      3738 | NS      | $97262.76     | 3.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Seadrill Ltd                   | Seadrill Ltd.                           | CUSIP: N/A<br>LEI: 213800EQ6L456U2JCO89       | Long             | EC               | CORP              | US        |      1999 | NS      | $69165.40     | 2.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Halliburton Co                 | Halliburton Co.                         | CUSIP: 406216101<br>LEI: ENYF8GB5SMQZ25S06U51 | Long             | EC               | CORP              | US        |      7447 | NS      | $210452.22    | 7.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Valaris Ltd                    | Valaris Ltd.                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      1435 | NS      | $72324.00     | 2.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlas Energy Solutions Inc     | Atlas Energy Solutions, Inc.            | CUSIP: 642045108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3936 | NS      | $37077.12     | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Helmerich & Payne Inc          | Helmerich & Payne, Inc.                 | CUSIP: 423452101<br>LEI: 254900NAOGHJ88RZ4C73 | Long             | EC               | CORP              | US        |      2466 | NS      | $70724.88     | 2.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Patterson-UTI Energy Inc       | Patterson-UTI Energy, Inc.              | CUSIP: 703481101<br>LEI: 254900XGFBKIXD6G0697 | Long             | EC               | CORP              | US        |     11396 | NS      | $69629.56     | 2.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Tenaris SA                     | Tenaris S.A.                            | CUSIP: 88031M109<br>LEI: 549300Y7C05BKC4HZB40 | Long             | EC               | CORP              | LU        |      2265 | NS      | $87089.25     | 3.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Cactus Inc                     | Cactus, Inc.                            | CUSIP: 127203107<br>LEI: 549300J3T8C9F8QFKV08 | Long             | EC               | CORP              | US        |      1890 | NS      | $86335.20     | 3.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Baker Hughes Co                | Baker Hughes Co.                        | CUSIP: 05722G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6751 | NS      | $307440.54    | 11.30%            |  |  |  | No            |                  1 | On Loan: No      |
| Noble Corp PLC                 | Noble Corporation plc                   | CUSIP: N/A<br>LEI: 549300I3HBUNXO0OG954       | Long             | EC               | CORP              | US        |      2907 | NS      | $82093.68     | 3.02%             |  |  |  | No            |                  1 | On Loan: No      |
| NOV Inc                        | NOV, Inc.                               | CUSIP: 62955J103<br>LEI: 549300EHF3IW1AR6U008 | Long             | EC               | CORP              | US        |      6832 | NS      | $106784.16    | 3.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Nabors Industries Ltd          | Nabors Industries Ltd.                  | CUSIP: N/A<br>LEI: 5493008TXYN3II3PU369       | Long             | EC               | CORP              | US        |       412 | NS      | $22371.60     | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| TETRA Technologies Inc         | TETRA Technologies, Inc.                | CUSIP: 88162F105<br>LEI: 549300T5W131705EK832 | Long             | EC               | CORP              | US        |      5183 | NS      | $48564.71     | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Expro Group Holdings NV        | Expro Group Holdings N.V.               | CUSIP: N/A<br>LEI: 724500LJYA8QIT73H017       | Long             | EC               | CORP              | US        |      3835 | NS      | $51197.25     | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| BOFA SECURITIES, INC.          | BofA Securities, Inc.                   | CUSIP: N/A<br>LEI: 549300HN4UKV1E2R3U73       | Long             | RA               | CORP              | US        |     12000 | PA      | $12000.36     | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| Tidewater Inc                  | Tidewater, Inc.                         | CUSIP: 88642R109<br>LEI: 2549000JA5GRUPLMUH98 | Long             | EC               | CORP              | US        |       963 | NS      | $48641.13     | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Weatherford International PLC  | Weatherford International plc           | CUSIP: N/A<br>LEI: 529900LPBDSCQDJKHQ39       | Long             | EC               | CORP              | US        |      1375 | NS      | $107607.50    | 3.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Oceaneering International Inc  | Oceaneering International, Inc.         | CUSIP: 675232102<br>LEI: 549300L6PH74701W0R30 | Long             | EC               | CORP              | US        |      2850 | NS      | $68485.50     | 2.52%             |  |  |  | No            |                  1 | On Loan: No      |
| SLB Ltd                        | SLB Ltd.                                | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | US        |      8841 | NS      | $339317.58    | 12.47%            |  |  |  | No            |                  1 | On Loan: No      |
| Solaris Energy Infrastructure  | Solaris Energy Infrastructure, Inc.     | CUSIP: 83418M103<br>LEI: 529900MTK3C8Y8TIIC10 | Long             | EC               | CORP              | US        |      1686 | NS      | $77505.42     | 2.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Energy Inc             | Liberty Energy, Inc.                    | CUSIP: 53115L104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4110 | NS      | $75870.60     | 2.79%             |  |  |  | No            |                  1 | On Loan: No      |
| ProFrac Holding Corp           | ProFrac Holding Corp.                   | CUSIP: 74319N100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3913 | NS      | $15221.57     | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Select Water Solutions Inc     | Select Water Solutions, Inc.            | CUSIP: 81617J301<br>LEI: 54930094OK8LA3QDW486 | Long             | EC               | CORP              | US        |      5849 | NS      | $61531.48     | 2.26%             |  |  |  | No            |                  1 | On Loan: No      |
| ProPetro Holding Corp          | ProPetro Holding Corp.                  | CUSIP: 74347M108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4146 | NS      | $39428.46     | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Helix Energy Solutions Group I | Helix Energy Solutions Group, Inc.      | CUSIP: 42330P107<br>LEI: 416AP2JOUTCWEGSOZW41 | Long             | EC               | CORP              | US        |      6527 | NS      | $40924.29     | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| TechnipFMC PLC                 | TechnipFMC plc                          | CUSIP: N/A<br>LEI: 549300D5I93QWCJTCK36       | Long             | EC               | CORP              | US        |      2726 | NS      | $121470.56    | 4.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Transocean Ltd                 | Transocean Ltd.                         | CUSIP: N/A<br>LEI: 529900QO4W5DQGBGEF32       | Long             | EC               | CORP              | US        |     23053 | NS      | $95208.89     | 3.50%             |  |  |  | No            |                  1 | On Loan: No      |
| National Energy Services Reuni | National Energy Services Reunited Corp. | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      2850 | NS      | $44631.00     | 1.64%             |  |  |  | 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