# EDGAR Filing Document

**Accession Number:** 0001064046
**File Stem:** 0001752724-25-209239
**Filing Date:** 2025-8
**Character Count:** 35724
**Document Hash:** 0f6e2a7a770ff765f648a4f8ceea170b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-209239.hdr.sgml**: 20250827

**ACCESSION NUMBER**: 0001752724-25-209239

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250827

**DATE AS OF CHANGE**: 20250827

**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:** 251264202

**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

### Leisure Fund (Series ID: S000003719)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010388 | 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:** Leisure Fund

- **b. EDGAR series identifier (if any):** S000003719

- **c. LEI of Series:** 549300JFCHYH0BITLM73

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

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

- **b. Date as of which information is reported:** 2025-06-30

**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:** $6796796.31

**Total Liabilities:** $20256.47

**Net Assets:** $6776539.84

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000010388 | 0.15%                | 6.60%                | 5.84%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $297842.93               | $-449206.20                                |
| Month 2  | $87552.29                | $109999.40                                 |
| Month 3  | $-9233.08                | $365831.48                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Airbnb Inc                     | Airbnb, Inc.                                         | CUSIP: 009066101<br>LEI: 549300HMUDNO0RY56D37 | Long             | EC               | CORP              | US        |       956 | NS      | $126517.04    | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Altria Group Inc               | Altria Group, Inc.                                   | CUSIP: 02209S103<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | EC               | CORP              | US        |      2571 | NS      | $150737.73    | 2.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Anheuser-Busch InBev SA/NV     | Anheuser-Busch InBev S.A.                            | CUSIP: 03524A108<br>LEI: 5493008H3828EMEXB082 | Long             | EC               | CORP              | BE        |       794 | NS      | $54563.68     | 0.81%             |  |  |  | No            |                  1 | On Loan: —       |
| Aramark                        | Aramark                                              | CUSIP: 03852U106<br>LEI: 549300MR6PG2DWZUIL39 | Long             | EC               | CORP              | US        |      1225 | NS      | $51290.75     | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Bloomin' Brands Inc            | Bloomin' Brands, Inc.                                | CUSIP: 094235108<br>LEI: E1UJ2GO305B5FXGV7N04 | Long             | EC               | CORP              | US        |      1376 | NS      | $11847.36     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Booking Holdings Inc           | Booking Holdings, Inc.                               | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |        21 | NS      | $121574.04    | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Boyd Gaming Corp               | Boyd Gaming Corp.                                    | CUSIP: 103304101<br>LEI: 254900787YGRYS2A1Z35 | Long             | EC               | CORP              | US        |       418 | NS      | $32700.14     | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Brinker International Inc      | Brinker International, Inc.                          | CUSIP: 109641100<br>LEI: 52990067JY6PBGJNTG76 | Long             | EC               | CORP              | US        |       242 | NS      | $43639.86     | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| British American Tobacco PLC   | British American Tobacco plc                         | CUSIP: 110448107<br>LEI: 213800FKA5MF17RJKT63 | Long             | EC               | CORP              | GB        |      1269 | NS      | $60061.77     | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Brown-Forman Corp              | Brown-Forman Corp.                                   | CUSIP: 115637209<br>LEI: 549300873K3LXF7ARU34 | Long             | EC               | CORP              | US        |      2003 | NS      | $53900.73     | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Brunswick Corp/DE              | Brunswick Corp.                                      | CUSIP: 117043109<br>LEI: YM4O38W15AX4YLLQKU27 | Long             | EC               | CORP              | US        |       517 | NS      | $28559.08     | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Caesars Entertainment Inc      | Caesars Entertainment, Inc.                          | CUSIP: 12769G100<br>LEI: 549300FA4CTCW903Y781 | Long             | EC               | CORP              | US        |      1295 | NS      | $36765.05     | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Carnival Corp                  | Carnival Corp.                                       | CUSIP: 143658300<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | EC               | CORP              | US        |      3392 | NS      | $95383.04     | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Cava Group Inc                 | Cava Group, Inc.                                     | CUSIP: 148929102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       542 | NS      | $45652.66     | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Charter Communications Inc     | Charter Communications, Inc.                         | CUSIP: 16119P108<br>LEI: 0J0XRGZE3PBRFEZ7MV65 | Long             | EC               | CORP              | US        |       244 | NS      | $99749.64     | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Cheesecake Factory Inc/The     | Cheesecake Factory, Inc.                             | CUSIP: 163072101<br>LEI: 529900872XMLK10SY247 | Long             | EC               | CORP              | US        |       424 | NS      | $26567.84     | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Chipotle Mexican Grill Inc     | Chipotle Mexican Grill, Inc.                         | CUSIP: 169656105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2473 | NS      | $138858.95    | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Choice Hotels International In | Choice Hotels International, Inc.                    | CUSIP: 169905106<br>LEI: 5493003CYRY5RFGTIR97 | Long             | EC               | CORP              | US        |       194 | NS      | $24614.72     | 0.36%             |  |  |  | No            |                  1 | On Loan: —       |
| Churchill Downs Inc            | Churchill Downs, Inc.                                | CUSIP: 171484108<br>LEI: 529900FODTBQC8MIS994 | Long             | EC               | CORP              | US        |       385 | NS      | $38885.00     | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Cinemark Holdings Inc          | Cinemark Holdings, Inc.                              | CUSIP: 17243V102<br>LEI: 549300LL2QMPTYIE0K55 | Long             | EC               | CORP              | US        |       903 | NS      | $27252.54     | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corp                   | Comcast Corp.                                        | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |      4936 | NS      | $176165.84    | 2.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Brands Inc       | Constellation Brands, Inc.                           | CUSIP: 21036P108<br>LEI: 5493005GKEG8QCVY7037 | Long             | EC               | CORP              | US        |       438 | NS      | $71253.84     | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Cracker Barrel Old Country Sto | Cracker Barrel Old Country Store, Inc.               | CUSIP: 22410J106<br>LEI: 8P4PHQIUWPIECBFBW745 | Long             | EC               | CORP              | US        |       334 | NS      | $20400.72     | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Darden Restaurants Inc         | Darden Restaurants, Inc.                             | CUSIP: 237194105<br>LEI: CY1NFSCCB5GUXC7WZC70 | Long             | EC               | CORP              | US        |       353 | NS      | $76943.41     | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Dave & Buster's Entertainment  | Dave & Buster's Entertainment, Inc.                  | CUSIP: 238337109<br>LEI: 529900WTVU85QZLYHR86 | Long             | EC               | CORP              | US        |       448 | NS      | $13475.84     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Diageo PLC                     | Diageo plc                                           | CUSIP: 25243Q205<br>LEI: 213800ZVIELEA55JMJ32 | Long             | EC               | CORP              | GB        |       504 | NS      | $50823.36     | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Walt Disney Co/The             | Walt Disney Co.                                      | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |      1887 | NS      | $234006.87    | 3.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Domino's Pizza Inc             | Domino's Pizza, Inc.                                 | CUSIP: 25754A201<br>LEI: 25490005ZWM1IF9UXU57 | Long             | EC               | CORP              | US        |       127 | NS      | $57226.20     | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| DoorDash Inc                   | DoorDash, Inc.                                       | CUSIP: 25809K105<br>LEI: 549300NUQ43FGGSK5051 | Long             | EC               | CORP              | US        |       626 | NS      | $154315.26    | 2.28%             |  |  |  | No            |                  1 | On Loan: No      |
| DraftKings Inc                 | DraftKings, Inc.                                     | CUSIP: 26142V105<br>LEI: 2549006G33IUL6IVOD83 | Long             | EC               | CORP              | US        |      1708 | NS      | $73256.12     | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Dutch Bros Inc                 | Dutch Bros, Inc.                                     | CUSIP: 26701L100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       717 | NS      | $49021.29     | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| EchoStar Corp                  | EchoStar Corp.                                       | CUSIP: 278768106<br>LEI: 549300EE20907QZ9GT38 | Long             | EC               | CORP              | US        |      1742 | NS      | $48253.40     | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Electronic Arts Inc            | Electronic Arts, Inc.                                | CUSIP: 285512109<br>LEI: 549300O7A67PUEYKDL45 | Long             | EC               | CORP              | US        |       623 | NS      | $99493.10     | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Expedia Group Inc              | Expedia Group, Inc.                                  | CUSIP: 30212P303<br>LEI: CI7MUJI4USF3V0NJ1H64 | Long             | EC               | CORP              | US        |       413 | NS      | $69664.84     | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Funds           | First American Government Obligations Fund - Class X | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | RF                | US        |     67270 | NS      | $67270.25     | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Fox Corp                       | Fox Corp.                                            | CUSIP: 35137L105<br>LEI: 549300DDU6FDRBIELS05 | Long             | EC               | CORP              | US        |      1280 | NS      | $71731.20     | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Harley-Davidson Inc            | Harley-Davidson, Inc.                                | CUSIP: 412822108<br>LEI: ZDNAWZWXIKMWI51R2A08 | Long             | EC               | CORP              | US        |      1012 | NS      | $23883.20     | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Hasbro Inc                     | Hasbro, Inc.                                         | CUSIP: 418056107<br>LEI: 549300NUB6D2R1ITYR45 | Long             | EC               | CORP              | US        |       665 | NS      | $49090.30     | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Hilton Worldwide Holdings Inc  | Hilton Worldwide Holdings, Inc.                      | CUSIP: 43300A203<br>LEI: 549300HVGPK36ICB0B89 | Long             | EC               | CORP              | US        |       463 | NS      | $123315.42    | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Hyatt Hotels Corp              | Hyatt Hotels Corp.                                   | CUSIP: 448579102<br>LEI: T27JQIMTYSH41TCD5186 | Long             | EC               | CORP              | US        |       400 | NS      | $55860.00     | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Jack in the Box Inc            | Jack in the Box, Inc.                                | CUSIP: 466367109<br>LEI: 5493002OJW26P0SUUP68 | Long             | EC               | CORP              | US        |       441 | NS      | $7699.86      | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Krispy Kreme Inc               | Krispy Kreme, Inc.                                   | CUSIP: 50101L106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2084 | NS      | $6064.44      | 0.09%             |  |  |  | No            |                  1 | On Loan: —       |
| Las Vegas Sands Corp           | Las Vegas Sands Corp.                                | CUSIP: 517834107<br>LEI: 549300DUOO1KXOHPM605 | Long             | EC               | CORP              | US        |      1343 | NS      | $58433.93     | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Broadband Corp         | Liberty Broadband Corp.                              | CUSIP: 530307305<br>LEI: 549300MIX43II8JLN536 | Long             | EC               | CORP              | US        |       575 | NS      | $56568.50     | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Live Nation Entertainment Inc  | Live Nation Entertainment, Inc.                      | CUSIP: 538034109<br>LEI: 5493007B9BM9ZXJINO78 | Long             | EC               | CORP              | US        |       514 | NS      | $77757.92     | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| MGM Resorts International      | MGM Resorts International                            | CUSIP: 552953101<br>LEI: 54930066VBP7DZEGGJ87 | Long             | EC               | CORP              | US        |      1157 | NS      | $39789.23     | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Marriott International Inc/MD  | Marriott International, Inc.                         | CUSIP: 571903202<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | EC               | CORP              | US        |       440 | NS      | $120212.40    | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Mattel Inc                     | Mattel, Inc.                                         | CUSIP: 577081102<br>LEI: 549300VELLG24KHTJ564 | Long             | EC               | CORP              | US        |      1957 | NS      | $38592.04     | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| McDonald's Corp                | McDonald's Corp.                                     | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |       742 | NS      | $216790.14    | 3.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Molson Coors Beverage Co       | Molson Coors Beverage Co.                            | CUSIP: 60871R209<br>LEI: 54930073LBBH6ZCBE225 | Long             | EC               | CORP              | US        |       906 | NS      | $43569.54     | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Netflix Inc                    | Netflix, Inc.                                        | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |       283 | NS      | $378973.79    | 5.59%             |  |  |  | No            |                  1 | On Loan: No      |
| NetEase Inc                    | NetEase, Inc.                                        | CUSIP: 64110W102<br>LEI: 5299004AF4DSJDB0PA32 | Long             | EC               | CORP              | KY        |       451 | NS      | $60695.58     | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| New York Times Co/The          | New York Times Co.                                   | CUSIP: 650111107<br>LEI: 529900J1WEMMIW7BOH57 | Long             | EC               | CORP              | US        |       800 | NS      | $44784.00     | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| News Corp                      | News Corp.                                           | CUSIP: 65249B109<br>LEI: 549300ITS31QK8VRBQ14 | Long             | EC               | CORP              | US        |      2231 | NS      | $66305.32     | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Nexstar Media Group Inc        | Nexstar Media Group, Inc.                            | CUSIP: 65336K103<br>LEI: 52990083ZRR5UT591988 | Long             | EC               | CORP              | US        |       146 | NS      | $25250.70     | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Papa John's International Inc  | Papa John's International, Inc.                      | CUSIP: 698813102<br>LEI: HZYLD3DK5XOX0WBVNB56 | Long             | EC               | CORP              | US        |       376 | NS      | $18401.44     | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Peloton Interactive Inc        | Peloton Interactive, Inc.                            | CUSIP: 70614W100<br>LEI: 5493002YS021166W0339 | Long             | EC               | CORP              | US        |      3545 | NS      | $24602.30     | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Penn Entertainment Inc         | Penn Entertainment, Inc.                             | CUSIP: 707569109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1446 | NS      | $25840.02     | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Philip Morris International In | Philip Morris International, Inc.                    | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |      1412 | NS      | $257167.56    | 3.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Planet Fitness Inc             | Planet Fitness, Inc.                                 | CUSIP: 72703H101<br>LEI: 549300LLE5HUPF6H8G33 | Long             | EC               | CORP              | US        |       434 | NS      | $47327.70     | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Polaris Inc                    | Polaris, Inc.                                        | CUSIP: 731068102<br>LEI: 549300QJSN8UVWN1EI78 | Long             | EC               | CORP              | US        |       539 | NS      | $21910.35     | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Red Rock Resorts Inc           | Red Rock Resorts, Inc.                               | CUSIP: 75700L108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       650 | NS      | $33819.50     | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Restaurant Brands Internationa | Restaurant Brands International, Inc.                | CUSIP: 76131D103<br>LEI: 5299009RXTX9DN9AKJ98 | Long             | EC               | CORP              | US        |       886 | NS      | $58732.94     | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| ROBLOX Corp                    | ROBLOX Corp.                                         | CUSIP: 771049103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1240 | NS      | $130448.00    | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Roku Inc                       | Roku, Inc.                                           | CUSIP: 77543R102<br>LEI: 549300KR6ITU0YIR1T71 | Long             | EC               | CORP              | US        |       673 | NS      | $59149.97     | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Light & Wonder Inc             | Light & Wonder, Inc.                                 | CUSIP: 80874P109<br>LEI: 529900JXALYBOHXKFM62 | Long             | EC               | CORP              | US        |       475 | NS      | $45723.50     | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Sea Ltd                        | Sea Ltd.                                             | CUSIP: 81141R100<br>LEI: 529900OM6JLLW44YKI15 | Long             | EC               | CORP              | KY        |       494 | NS      | $79010.36     | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| United Parks & Resorts Inc     | United Parks & Resorts, Inc.                         | CUSIP: 81282V100<br>LEI: 529900G0H4NV3IIK3269 | Long             | EC               | CORP              | US        |       383 | NS      | $18058.45     | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Shake Shack Inc                | Shake Shack, Inc.                                    | CUSIP: 819047101<br>LEI: 529900J74GJAHYP80N79 | Long             | EC               | CORP              | US        |       271 | NS      | $38102.60     | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Sirius XM Holdings Inc         | Sirius XM Holdings, Inc.                             | CUSIP: 829933100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1429 | NS      | $32824.13     | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Six Flags Entertainment Corp   | Six Flags Entertainment Corp.                        | CUSIP: 83001C108<br>LEI: 529900AS2CYWYFHRS781 | Long             | EC               | CORP              | US        |       825 | NS      | $25104.75     | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Starbucks Corp                 | Starbucks Corp.                                      | CUSIP: 855244109<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | EC               | CORP              | US        |      1661 | NS      | $152197.43    | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Sweetgreen Inc                 | Sweetgreen, Inc.                                     | CUSIP: 87043Q108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1347 | NS      | $20043.36     | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| TKO Group Holdings Inc         | TKO Group Holdings, Inc.                             | CUSIP: 87256C101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       472 | NS      | $85880.40     | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Take-Two Interactive Software  | Take-Two Interactive Software, Inc.                  | CUSIP: 874054109<br>LEI: BOMSTHHJK882EWYX3334 | Long             | EC               | CORP              | US        |       415 | NS      | $100782.75    | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Roadhouse Inc            | Texas Roadhouse, Inc.                                | CUSIP: 882681109<br>LEI: 5299002Y1CNRPDGXTQ75 | Long             | EC               | CORP              | US        |       287 | NS      | $53786.67     | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Trip.com Group Ltd             | Trip.com Group Ltd.                                  | CUSIP: 89677Q107<br>LEI: 2549004RMYDSRQL4KW41 | Long             | EC               | CORP              | KY        |      1121 | NS      | $65735.44     | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Vail Resorts Inc               | Vail Resorts, Inc.                                   | CUSIP: 91879Q109<br>LEI: 529900PSZHRNU9HKH870 | Long             | EC               | CORP              | US        |       235 | NS      | $36925.55     | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Paramount Global               | Paramount Global                                     | CUSIP: 92556H206<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | EC               | CORP              | US        |      3455 | NS      | $44569.50     | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Warner Bros Discovery Inc      | Warner Bros Discovery, Inc.                          | CUSIP: 934423104<br>LEI: 5493006ZCRFWKF6B1K26 | Long             | EC               | CORP              | US        |      7045 | NS      | $80735.70     | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Warner Music Group Corp        | Warner Music Group Corp.                             | CUSIP: 934550203<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2100 | NS      | $57204.00     | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Wendy's Co/The                 | Wendy's Co.                                          | CUSIP: 95058W100<br>LEI: 529900M0JIUCMWVKHG76 | Long             | EC               | CORP              | US        |      1821 | NS      | $20795.82     | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Wingstop Inc                   | Wingstop, Inc.                                       | CUSIP: 974155103<br>LEI: 549300SSH3F8HPIM3Q47 | Long             | EC               | CORP              | US        |       114 | NS      | $38388.36     | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Wyndham Hotels & Resorts Inc   | Wyndham Hotels & Resorts, Inc.                       | CUSIP: 98311A105<br>LEI: 549300FE3MQ4RVXXC673 | Long             | EC               | CORP              | US        |       463 | NS      | $37600.23     | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Wynn Resorts Ltd               | Wynn Resorts Ltd.                                    | CUSIP: 983134107<br>LEI: 254900CEKKWIHTEAB172 | Long             | EC               | CORP              | US        |       458 | NS      | $42900.86     | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| YETI Holdings Inc              | YETI Holdings, Inc.                                  | CUSIP: 98585X104<br>LEI: 549300DSQICIGNT5GO63 | Long             | EC               | CORP              | US        |       777 | NS      | $24491.04     | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Yum! Brands Inc                | Yum! Brands, Inc.                                    | CUSIP: 988498101<br>LEI: 549300JE8XHZZ7OHN517 | Long             | EC               | CORP              | US        |       671 | NS      | $99428.78     | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Yum China Holdings Inc         | Yum China Holdings, Inc.                             | CUSIP: 98850P109<br>LEI: 529900DO9BYZ7VA3K502 | Long             | EC               | CORP              | US        |      1287 | NS      | $57541.77     | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Flutter Entertainment PLC      | Flutter Entertainment plc                            | CUSIP: N/A<br>LEI: 635400EG4YIJLJMZJ782       | Long             | EC               | CORP              | US        |       387 | NS      | $110589.12    | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Norwegian Cruise Line Holdings | Norwegian Cruise Line Holdings Ltd.                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      2361 | NS      | $47881.08     | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Viking Holdings Ltd            | Viking Holdings Ltd.                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      1248 | NS      | $66505.92     | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Spotify Technology SA          | Spotify Technology S.A.                              | CUSIP: N/A<br>LEI: 549300B4X0JHWV0DTD60       | Long             | EC               | CORP              | US        |       135 | NS      | $103590.90    | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| BOFA SECURITIES, INC.          | BofA Securities, Inc.                                | CUSIP: N/A<br>LEI: 549300HN4UKV1E2R3U73       | Long             | RA               | CORP              | US        |      5176 | PA      | $5176.23      | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC.          | Barclays Capital, Inc.                               | CUSIP: N/A<br>LEI: AC28XWWI3WIBK2824319       | Long             | RA               | CORP              | US        |      5360 | PA      | $5360.50      | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC     | J.P. Morgan Securities LLC                           | CUSIP: N/A<br>LEI: ZBUT11V806EZRVTWT807       | Long             | RA               | CORP              | US        |     12423 | PA      | $12422.96     | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| MakeMyTrip Ltd                 | MakeMyTrip Ltd.                                      | CUSIP: N/A<br>LEI: 529900DNT8HNJ7RYUO60       | Long             | EC               | CORP              | US        |       562 | NS      | $55087.24     | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Royal Caribbean Cruises Ltd    | Royal Caribbean Cruises Ltd.                         | CUSIP: N/A<br>LEI: K2NEH8QNVW44JIWK7Z55       | Long             | EC               | CORP              | US        |       454 | NS      | $142165.56    | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-30

**Name of Applicant:** Rydex Variable Trust

**Signature:** James Howley

**Name of Signer:** James Howley

**Title:** CFO