# EDGAR Filing Document

**Accession Number:** 0001064046
**File Stem:** 0000913181-26-000243
**Filing Date:** 2026-3
**Character Count:** 36735
**Document Hash:** b79fa239b99ed290384e381b1fc17d23
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000913181-26-000243.hdr.sgml**: 20260302

**ACCESSION NUMBER**: 0000913181-26-000243

**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:** 26705221

**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

### S&P MidCap 400 Pure Value Fund (Series ID: S000003742)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010411 | 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:** S&P MidCap 400 Pure Value Fund

- **b. EDGAR series identifier (if any):** S000003742

- **c. LEI of Series:** 549300G7PIXHUXRFK191

**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:** $7011764.63

**Total Liabilities:** $35021.34

**Net Assets:** $6976743.29

**Cash Not Reported:** $0.26

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000010411 | -2.05%               | 3.47%                | -1.55%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-21678.63               | $-120310.50                                |
| Month 2  | $-5215.32                | $241177.44                                 |
| Month 3  | $601942.33               | $-724175.88                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Greif Inc                      | Greif, Inc.                                | CUSIP: 397624107<br>LEI: 54930070FVGKR0Z1FI24 | Long             | EC               | CORP              | US        |      1198 | NS      | $81104.60     | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Chord Energy Corp              | Chord Energy Corp.                         | CUSIP: 674215207<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | EC               | CORP              | US        |       943 | NS      | $87416.10     | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Concentrix Corp                | Concentrix Corp.                           | CUSIP: 20602D101<br>LEI: 5493000EAJN1KMPVA737 | Long             | EC               | CORP              | US        |      4777 | NS      | $198627.66    | 2.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Goodyear Tire & Rubber Co/The  | Goodyear Tire & Rubber Co.                 | CUSIP: 382550101<br>LEI: 5493002BI0S2ZQUY3437 | Long             | EC               | CORP              | US        |      9283 | NS      | $81319.08     | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Brighthouse Financial Inc      | Brighthouse Financial, Inc.                | CUSIP: 10922N103<br>LEI: 5493003T8SZSHOGGAW52 | Long             | EC               | CORP              | US        |      2267 | NS      | $146878.93    | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| UFP Industries Inc             | UFP Industries, Inc.                       | CUSIP: 90278Q108<br>LEI: 5493007KB485C9OV5572 | Long             | EC               | CORP              | US        |       450 | NS      | $40972.50     | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| KB Home                        | KB Home                                    | CUSIP: 48666K109<br>LEI: 549300LGUCWQURMWLG09 | Long             | EC               | CORP              | US        |      1294 | NS      | $72994.54     | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Old National Bancorp/IN        | Old National Bancorp                       | CUSIP: 680033107<br>LEI: 549300MMK90CL5KMVX16 | Long             | EC               | CORP              | US        |      1538 | NS      | $34312.78     | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| FNB Corp/PA                    | FNB Corp.                                  | CUSIP: 302520101<br>LEI: PCYSKIGYNYFDTBLVZU83 | Long             | EC               | CORP              | US        |      2795 | NS      | $47794.50     | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Corebridge Financial Inc       | Corebridge Financial, Inc.                 | CUSIP: 21871X109<br>LEI: 549300XY1661QCIA7J65 | Long             | EC               | CORP              | US        |      1901 | NS      | $57353.17     | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| BorgWarner Inc                 | BorgWarner, Inc.                           | CUSIP: 099724106<br>LEI: 549300DSFX2IE88NSX47 | Long             | EC               | CORP              | US        |      1255 | NS      | $56550.30     | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Valley National Bancorp        | Valley National Bancorp                    | CUSIP: 919794107<br>LEI: 549300ET52S1UBIB9762 | Long             | EC               | CORP              | US        |      4427 | NS      | $51707.36     | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Terex Corp                     | Terex Corp.                                | CUSIP: 880779103<br>LEI: YAWJZJYEQ7M1SYMOS462 | Long             | EC               | CORP              | US        |      1335 | NS      | $71262.30     | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Whirlpool Corp                 | Whirlpool Corp.                            | CUSIP: 963320106<br>LEI: WHENKOULSSK7WUM60H03 | Long             | EC               | CORP              | US        |      1258 | NS      | $90752.12     | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Webster Financial Corp         | Webster Financial Corp.                    | CUSIP: 947890109<br>LEI: KMRURHT0VWKYS6Z5KU67 | Long             | EC               | CORP              | US        |       541 | NS      | $34050.54     | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Selective Insurance Group Inc  | Selective Insurance Group, Inc.            | CUSIP: 816300107<br>LEI: 549300R3WGJWLE40R258 | Long             | EC               | CORP              | US        |       610 | NS      | $51038.70     | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Alcoa Corp                     | Alcoa Corp.                                | CUSIP: 013872106<br>LEI: 549300T12EZ1F6PWWU29 | Long             | EC               | CORP              | US        |       983 | NS      | $52236.62     | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| CNH Industrial NV              | CNH Industrial N.V.                        | CUSIP: N/A<br>LEI: 549300WGC2HZ5J67V817       | Long             | EC               | CORP              | US        |      5969 | NS      | $55034.18     | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Envista Holdings Corp          | Envista Holdings Corp.                     | CUSIP: 29415F104<br>LEI: 549300BX623VURJZ5269 | Long             | EC               | CORP              | US        |      1888 | NS      | $40988.48     | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| United Bankshares Inc/WV       | United Bankshares, Inc.                    | CUSIP: 909907107<br>LEI: 5299005O3BAMJ9Z92V62 | Long             | EC               | CORP              | US        |      1036 | NS      | $39782.40     | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Olin Corp                      | Olin Corp.                                 | CUSIP: 680665205<br>LEI: 549300GKK294V7W57P06 | Long             | EC               | CORP              | US        |      5608 | NS      | $116814.64    | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| American Airlines Group Inc    | American Airlines Group, Inc.              | CUSIP: 02376R102<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | EC               | CORP              | US        |      4280 | NS      | $65612.40     | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Starwood Property Trust Inc    | Starwood Property Trust, Inc.              | CUSIP: 85571B105<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | EC               | CORP              | US        |      1621 | NS      | $29194.21     | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Columbia Sportswear Co         | Columbia Sportswear Co.                    | CUSIP: 198516106<br>LEI: 549300OTMCIEUXAH5Z60 | Long             | EC               | CORP              | US        |       678 | NS      | $37351.02     | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Post Holdings Inc              | Post Holdings, Inc.                        | CUSIP: 737446104<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | EC               | CORP              | US        |       588 | NS      | $58241.40     | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| CNO Financial Group Inc        | CNO Financial Group, Inc.                  | CUSIP: 12621E103<br>LEI: 11XPYHB76MPM4Y4P2897 | Long             | EC               | CORP              | US        |      1090 | NS      | $46292.30     | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Arrow Electronics Inc          | Arrow Electronics, Inc.                    | CUSIP: 042735100<br>LEI: 549300YNNLBXT8N8R512 | Long             | EC               | CORP              | US        |      1393 | NS      | $153480.74    | 2.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Avient Corp                    | Avient Corp.                               | CUSIP: 05368V106<br>LEI: SM8L9RZYIB34LNTWO040 | Long             | EC               | CORP              | US        |      1892 | NS      | $59106.08     | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Gap Inc/The                    | Gap, Inc.                                  | CUSIP: 364760108<br>LEI: T2ZG1WRWZ4BUCMQL9224 | Long             | EC               | CORP              | US        |      1407 | NS      | $36019.20     | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Jones Lang LaSalle Inc         | Jones Lang LaSalle, Inc.                   | CUSIP: 48020Q107<br>LEI: 6SYKCME112RT8TQUO411 | Long             | EC               | CORP              | US        |       141 | NS      | $47442.27     | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| US Foods Holding Corp          | US Foods Holding Corp.                     | CUSIP: 912008109<br>LEI: 549300UGOZSO64CFPR97 | Long             | EC               | CORP              | US        |       654 | NS      | $49259.28     | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Unum Group                     | Unum Group                                 | CUSIP: 91529Y106<br>LEI: 549300E32YFDO6TZ8R31 | Long             | EC               | CORP              | US        |       736 | NS      | $57040.00     | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Harley-Davidson Inc            | Harley-Davidson, Inc.                      | CUSIP: 412822108<br>LEI: ZDNAWZWXIKMWI51R2A08 | Long             | EC               | CORP              | US        |      5005 | NS      | $102552.45    | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Park Hotels & Resorts Inc      | Park Hotels & Resorts, Inc.                | CUSIP: 700517105<br>LEI: 5493005UZ5TQN0H6HS73 | Long             | EC               | CORP              | US        |      9357 | NS      | $97874.22     | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Penske Automotive Group Inc    | Penske Automotive Group, Inc.              | CUSIP: 70959W103<br>LEI: 549300W7UTQ0M4C7LB15 | Long             | EC               | CORP              | US        |       631 | NS      | $99880.99     | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Cabot Corp                     | Cabot Corp.                                | CUSIP: 127055101<br>LEI: K05C0SER542GQ6VLRO68 | Long             | EC               | CORP              | US        |       444 | NS      | $29428.32     | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Polaris Inc                    | Polaris, Inc.                              | CUSIP: 731068102<br>LEI: 549300QJSN8UVWN1EI78 | Long             | EC               | CORP              | US        |       500 | NS      | $31625.00     | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Bath & Body Works Inc          | Bath & Body Works, Inc.                    | CUSIP: 070830104<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | EC               | CORP              | US        |      1471 | NS      | $29537.68     | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Jefferies Financial Group Inc  | Jefferies Financial Group, Inc.            | CUSIP: 47233W109<br>LEI: 549300HOF34RGOJ5YL07 | Long             | EC               | CORP              | US        |       635 | NS      | $39350.95     | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Ovintiv Inc                    | Ovintiv, Inc.                              | CUSIP: 69047Q102<br>LEI: 2549003MEX7YMKLGI239 | Long             | EC               | CORP              | US        |      1319 | NS      | $51691.61     | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Murphy Oil Corp                | Murphy Oil Corp.                           | CUSIP: 626717102<br>LEI: QBKYQD0ODE7DC7PDIN91 | Long             | EC               | CORP              | US        |      1721 | NS      | $53781.25     | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Associated Banc-Corp           | Associated Banc-Corp.                      | CUSIP: 045487105<br>LEI: 549300N3CIN473IW5094 | Long             | EC               | CORP              | US        |      1540 | NS      | $39670.40     | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Flowers Foods Inc              | Flowers Foods, Inc.                        | CUSIP: 343498101<br>LEI: 7YNCQQNDK8FBM9BBTK25 | Long             | EC               | CORP              | US        |      8387 | NS      | $91250.56     | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Ally Financial Inc             | Ally Financial, Inc.                       | CUSIP: 02005N100<br>LEI: 549300JBN1OSM8YNAI90 | Long             | EC               | CORP              | US        |      1073 | NS      | $48596.17     | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Macy's Inc                     | Macy's, Inc.                               | CUSIP: 55616P104<br>LEI: 529900NZQ81TIOW3CW52 | Long             | EC               | CORP              | US        |      5481 | NS      | $120856.05    | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Ingredion Inc                  | Ingredion, Inc.                            | CUSIP: 457187102<br>LEI: PKSTQ48QDN0XSVS7YK88 | Long             | EC               | CORP              | US        |       372 | NS      | $41016.72     | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Murphy USA Inc                 | Murphy USA, Inc.                           | CUSIP: 626755102<br>LEI: 549300Y081F8XIKQIO72 | Long             | EC               | CORP              | US        |       107 | NS      | $43176.64     | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Columbia Banking System Inc    | Columbia Banking System, Inc.              | CUSIP: 197236102<br>LEI: 254900CTRJTQZ3BJ2V17 | Long             | EC               | CORP              | US        |      1256 | NS      | $35105.20     | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Science Applications Internati | Science Applications International Corp.   | CUSIP: 808625107<br>LEI: 549300LZPNZIXQGZPZ48 | Long             | EC               | CORP              | US        |       514 | NS      | $51739.24     | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Darling Ingredients Inc        | Darling Ingredients, Inc.                  | CUSIP: 237266101<br>LEI: L1N0SPPKS7EXZYUMZ898 | Long             | EC               | CORP              | US        |      1346 | NS      | $48456.00     | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Financial Corp  | First American Financial Corp.             | CUSIP: 31847R102<br>LEI: 549300B6VEZK3N0A1P55 | Long             | EC               | CORP              | US        |       829 | NS      | $50933.76     | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank OZK                       | Bank OZK                                   | CUSIP: 06417N103<br>LEI: 549300VYK2WBD7SST478 | Long             | EC               | CORP              | US        |      1046 | NS      | $48136.92     | 0.69%             |  |  |  | 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        |     31770 | PA      | $31770.23     | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| Kilroy Realty Corp             | Kilroy Realty Corp.                        | CUSIP: 49427F108<br>LEI: 549300CXXI18B214UN80 | Long             | EC               | CORP              | US        |      1040 | NS      | $38864.80     | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Lear Corp                      | Lear Corp.                                 | CUSIP: 521865204<br>LEI: 549300UPNBTXA1SYTQ33 | Long             | EC               | CORP              | US        |      1266 | NS      | $145083.60    | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| BOFA SECURITIES, INC.          | BofA Securities, Inc.                      | CUSIP: N/A<br>LEI: 549300HN4UKV1E2R3U73       | Long             | RA               | CORP              | US        |     31770 | PA      | $31770.24     | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| Silgan Holdings Inc            | Silgan Holdings, Inc.                      | CUSIP: 827048109<br>LEI: KAF673KJXD92C8KSLU49 | Long             | EC               | CORP              | US        |      1326 | NS      | $53530.62     | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Civitas Resources Inc          | Civitas Resources, Inc.                    | CUSIP: 17888H103<br>LEI: IIVIHPH28S64K95M2381 | Long             | EC               | CORP              | US        |      4445 | NS      | $120415.05    | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| WESCO International Inc        | WESCO International, Inc.                  | CUSIP: 95082P105<br>LEI: 529900TXOGREY3WNJ434 | Long             | EC               | CORP              | US        |       161 | NS      | $39387.04     | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Coty Inc                       | Coty, Inc.                                 | CUSIP: 222070203<br>LEI: 549300BO9IWPF3S48F93 | Long             | EC               | CORP              | US        |     32101 | NS      | $98871.08     | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Taylor Morrison Home Corp      | Taylor Morrison Home Corp.                 | CUSIP: 87724P106<br>LEI: 5299009UDLLGLKOOJE30 | Long             | EC               | CORP              | US        |      1363 | NS      | $80239.81     | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| PBF Energy Inc                 | PBF Energy, Inc.                           | CUSIP: 69318G106<br>LEI: 2549003PBEDCSZMZIY02 | Long             | EC               | CORP              | US        |      4778 | NS      | $129579.36    | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryder System Inc               | Ryder System, Inc.                         | CUSIP: 783549108<br>LEI: ZXJ6Y2OSPZXIVGRILD15 | Long             | EC               | CORP              | US        |       274 | NS      | $52440.86     | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Knight-Swift Transportation Ho | Knight-Swift Transportation Holdings, Inc. | CUSIP: 499049104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1154 | NS      | $60331.12     | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| BJ's Wholesale Club Holdings I | BJ's Wholesale Club Holdings, Inc.         | CUSIP: 05550J101<br>LEI: 549300UCIWH1C93V0J03 | Long             | EC               | CORP              | US        |       346 | NS      | $31150.38     | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Cousins Properties Inc         | Cousins Properties, Inc.                   | CUSIP: 222795502<br>LEI: 5493007XPYD5EJABN062 | Long             | EC               | CORP              | US        |      1526 | NS      | $39340.28     | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Hancock Whitney Corp           | Hancock Whitney Corp.                      | CUSIP: 410120109<br>LEI: 549300GRNBWY8HIICT41 | Long             | EC               | CORP              | US        |       458 | NS      | $29165.44     | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Voya Financial Inc             | Voya Financial, Inc.                       | CUSIP: 929089100<br>LEI: 549300T065Z4KJ686G75 | Long             | EC               | CORP              | US        |       776 | NS      | $57804.24     | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Matador Resources Co           | Matador Resources Co.                      | CUSIP: 576485205<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | EC               | CORP              | US        |      1326 | NS      | $56275.44     | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Fluor Corp                     | Fluor Corp.                                | CUSIP: 343412102<br>LEI: CQ7WZ4NOFWT7FAE6Q943 | Long             | EC               | CORP              | US        |      2242 | NS      | $88850.46     | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Cleveland-Cliffs Inc           | Cleveland-Cliffs, Inc.                     | CUSIP: 185899101<br>LEI: 549300TM2WLI2BJMDD86 | Long             | EC               | CORP              | US        |      7671 | NS      | $101870.88    | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Westlake Corp                  | Westlake Corp.                             | CUSIP: 960413102<br>LEI: GOXNEVUM0LL78B1OS344 | Long             | EC               | CORP              | US        |       974 | NS      | $72017.56     | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Euronet Worldwide Inc          | Euronet Worldwide, Inc.                    | CUSIP: 298736109<br>LEI: YG3575C4DSHJPA5KET68 | Long             | EC               | CORP              | US        |       468 | NS      | $35619.48     | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Alaska Air Group Inc           | Alaska Air Group, Inc.                     | CUSIP: 011659109<br>LEI: 529900G48RT4KWLC6C27 | Long             | EC               | CORP              | US        |      2305 | NS      | $115941.50    | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| AutoNation Inc                 | AutoNation, Inc.                           | CUSIP: 05329W102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       418 | NS      | $86308.64     | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Avnet Inc                      | Avnet, Inc.                                | CUSIP: 053807103<br>LEI: XJI53DCPL7QABOWK4Z75 | Long             | EC               | CORP              | US        |      3328 | NS      | $160010.24    | 2.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Kemper Corp                    | Kemper Corp.                               | CUSIP: 488401100<br>LEI: 549300FNI1JKTRY2PV09 | Long             | EC               | CORP              | US        |      2874 | NS      | $116511.96    | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| SOUTHSTATE BANK CORP           | SOUTHSTATE BANK CORP                       | CUSIP: 84472E102<br>LEI: 549300JZUANXM0YQ4W53 | Long             | EC               | CORP              | US        |       414 | NS      | $38961.54     | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Thor Industries Inc            | Thor Industries, Inc.                      | CUSIP: 885160101<br>LEI: 254900XZO1228PDSG060 | Long             | EC               | CORP              | US        |       706 | NS      | $72485.02     | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Permian Resources Corp         | Permian Resources Corp.                    | CUSIP: 71424F105<br>LEI: 529900NXUJPOKU7OJ511 | Long             | EC               | CORP              | US        |      2887 | NS      | $40504.61     | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| HF Sinclair Corp               | HF Sinclair Corp.                          | CUSIP: 403949100<br>LEI: 2549009G116AM01XHN24 | Long             | EC               | CORP              | US        |      2630 | NS      | $121190.40    | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| PVH Corp                       | PVH Corp.                                  | CUSIP: 693656100<br>LEI: 123WALMHY1GZXG2YDL90 | Long             | EC               | CORP              | US        |      1672 | NS      | $112057.44    | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Reinsurance Group of America I | Reinsurance Group of America, Inc.         | CUSIP: 759351604<br>LEI: LORM1GNEU1DKEW527V90 | Long             | EC               | CORP              | US        |       524 | NS      | $106613.04    | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| AGCO Corp                      | AGCO Corp.                                 | CUSIP: 001084102<br>LEI: LYOM0B2GCF1JWXK5ZG04 | Long             | EC               | CORP              | US        |       379 | NS      | $39537.28     | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Visteon Corp                   | Visteon Corp.                              | CUSIP: 92839U206<br>LEI: 549300MOVLYHRW4GGW78 | Long             | EC               | CORP              | US        |       429 | NS      | $40797.90     | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| ASGN Inc                       | ASGN, Inc.                                 | CUSIP: 00191U102<br>LEI: LZBNYYCBUKY537072438 | Long             | EC               | CORP              | US        |      2255 | NS      | $108623.35    | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| GXO Logistics Inc              | GXO Logistics, Inc.                        | CUSIP: 36262G101<br>LEI: 5493007CNWMXN78JRN66 | Long             | EC               | CORP              | US        |      1304 | NS      | $68642.56     | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Pinnacle Financial Partners In | Pinnacle Financial Partners, Inc.          | CUSIP: 72346Q104<br>LEI: 54930098EZ8JMSAZGS24 | Long             | EC               | CORP              | US        |       353 | NS      | $33679.73     | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| TD SYNNEX Corp                 | TD SYNNEX Corp.                            | CUSIP: 87162W100<br>LEI: 5493004HI6PFLF46NS53 | Long             | EC               | CORP              | US        |       773 | NS      | $116127.79    | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Pilgrim's Pride Corp           | Pilgrim's Pride Corp.                      | CUSIP: 72147K108<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | EC               | CORP              | US        |      1614 | NS      | $62929.86     | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Kyndryl Holdings Inc           | Kyndryl Holdings, Inc.                     | CUSIP: 50155Q100<br>LEI: 549300LQ4LWX2R8ZV130 | Long             | EC               | CORP              | US        |      2328 | NS      | $61831.68     | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Sonoco Products Co             | Sonoco Products Co.                        | CUSIP: 835495102<br>LEI: GKOMIK4RDJGHEF0VNP11 | Long             | EC               | CORP              | US        |      1840 | NS      | $80297.60     | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| NOV Inc                        | NOV, Inc.                                  | CUSIP: 62955J103<br>LEI: 549300EHF3IW1AR6U008 | Long             | EC               | CORP              | US        |      6106 | NS      | $95436.78     | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Performance Food Group Co      | Performance Food Group Co.                 | CUSIP: 71377A103<br>LEI: 549300EUK8GR9IT1YK57 | Long             | EC               | CORP              | US        |       901 | NS      | $81017.92     | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Flagstar Bank NA               | Flagstar Bank North America                | CUSIP: 649445400<br>LEI: SS1TRMSN6BRNMOREEV51 | Long             | EC               | CORP              | US        |      4608 | NS      | $58014.72     | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Prosperity Bancshares Inc      | Prosperity Bancshares, Inc.                | CUSIP: 743606105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       697 | NS      | $48169.67     | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Albertsons Cos Inc             | Albertsons Companies, Inc.                 | CUSIP: 013091103<br>LEI: 549300YKWOC0AOR16R51 | Long             | EC               | CORP              | US        |      5401 | NS      | $92735.17     | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Zions Bancorp NA               | Zions Bancorp North America                | CUSIP: 989701107<br>LEI: 8WH0EE09O9V05QJZ3V89 | Long             | EC               | CORP              | US        |       595 | NS      | $34831.30     | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Lithia Motors Inc              | Lithia Motors, Inc.                        | CUSIP: 536797103<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | EC               | CORP              | US        |       395 | NS      | $131270.35    | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Commercial Metals Co           | Commercial Metals Co.                      | CUSIP: 201723103<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | EC               | CORP              | US        |       450 | NS      | $31149.00     | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Aramark                        | Aramark                                    | CUSIP: 03852U106<br>LEI: 549300MR6PG2DWZUIL39 | Long             | EC               | CORP              | US        |      1183 | NS      | $43605.38     | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Graphic Packaging Holding Co   | Graphic Packaging Holding Co.              | CUSIP: 388689101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5102 | NS      | $76836.12     | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| KBR Inc                        | KBR, Inc.                                  | CUSIP: 48242W106<br>LEI: 254900OFQDXZRKRCV808 | Long             | EC               | CORP              | US        |       666 | NS      | $26773.20     | 0.38%             |  |  |  | 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