# EDGAR Filing Document

**Accession Number:** 0001064046
**File Stem:** 0001752724-23-045128
**Filing Date:** 2023-2
**Character Count:** 28738
**Document Hash:** a70e15e1a372eb1bd8ca0c500d7235aa
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-045128.hdr.sgml**: 20230228

**ACCESSION NUMBER**: 0001752724-23-045128

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230228

**DATE AS OF CHANGE**: 20230228

**PERIOD START**: 20221231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** RYDEX VARIABLE TRUST
- **CENTRAL INDEX KEY:** 0001064046
- **IRS NUMBER:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08821
- **FILM NUMBER:** 23680439

**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 Growth Fund (Series ID: S000003744)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010413 | 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 Growth Fund

- **b. EDGAR series identifier (if any):** S000003744

- **c. LEI of Series:** 549300SL2Z7RY94P1E48

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

- **a. Date of fiscal year-end:** 2022-12-31

- **b. Date as of which information is reported:** 2022-12-31

**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:** $12002827.86

**Total Liabilities:** $48601.52

**Net Assets:** $11954226.34

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000010413 | 10.46%               | 4.77%                | -7.45%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-276431.34              | $1288418.40                                |
| Month 2  | $-9363.60                | $602936.88                                 |
| Month 3  | $253987.23               | $-1230190.77                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Range Resources Corp           | Range Resources Corp.               | CUSIP: 75281A109<br>LEI: H3Y3WLYCX0BTO1TRW162 | Long             | EC               | CORP              | US        |     10041 | NS      | $251225.82    | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Lancaster Colony Corp          | Lancaster Colony Corp.              | CUSIP: 513847103<br>LEI: 529900X4O13HED1ZAS58 | Long             | EC               | CORP              | US        |       475 | NS      | $93717.50     | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| WWE                            | World Wrestling Entertainment, Inc. | CUSIP: 98156Q108<br>LEI: 549300WZVLSCS3L4L698 | Long             | EC               | CORP              | US        |      1807 | NS      | $123815.64    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| ONE Gas Inc                    | ONE Gas, Inc.                       | CUSIP: 68235P108<br>LEI: 549300HXDWI0LATTX840 | Long             | EC               | CORP              | US        |      1561 | NS      | $118198.92    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| ExlService Holdings Inc        | ExlService Holdings, Inc.           | CUSIP: 302081104<br>LEI: 81E3DTNF6OSH489ZOV15 | Long             | EC               | CORP              | US        |       724 | NS      | $122667.32    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| DT Midstream Inc               | DT Midstream, Inc.                  | CUSIP: 23345M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3581 | NS      | $197886.06    | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Reliance Steel & Aluminum Co   | Reliance Steel & Aluminum Co.       | CUSIP: 759509102<br>LEI: 549300E287ZOFT3C5Z56 | Long             | EC               | CORP              | US        |       969 | NS      | $196164.36    | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Landstar System Inc            | Landstar System, Inc.               | CUSIP: 515098101<br>LEI: 254900CUQXQRL09MEI52 | Long             | EC               | CORP              | US        |      1024 | NS      | $166809.60    | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Crocs Inc                      | Crocs, Inc.                         | CUSIP: 227046109<br>LEI: 549300B0J6YCXD63OG72 | Long             | EC               | CORP              | US        |       980 | NS      | $106261.40    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Murphy Oil Corp                | Murphy Oil Corp.                    | CUSIP: 626717102<br>LEI: QBKYQD0ODE7DC7PDIN91 | Long             | EC               | CORP              | US        |      4715 | NS      | $202792.15    | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Repligen Corp                  | Repligen Corp.                      | CUSIP: 759916109<br>LEI: 54930006QJ0T5AUO1E71 | Long             | EC               | CORP              | US        |       557 | NS      | $94305.67     | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Axon Enterprise Inc            | Axon Enterprise, Inc.               | CUSIP: 05464C101<br>LEI: 549300QP2IEEGFE16681 | Long             | EC               | CORP              | US        |      1079 | NS      | $179038.47    | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Valmont Industries Inc         | Valmont Industries, Inc.            | CUSIP: 920253101<br>LEI: 5493009ZGZJJ8F77JN08 | Long             | EC               | CORP              | US        |       466 | NS      | $154092.22    | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Clean Harbors Inc              | Clean Harbors, Inc.                 | CUSIP: 184496107<br>LEI: 5493000SJVZVZJKHJF48 | Long             | EC               | CORP              | US        |      1033 | NS      | $117885.96    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| OGE Energy Corp                | OGE Energy Corp.                    | CUSIP: 670837103<br>LEI: CE5OG6JPOZMDSA0LAQ19 | Long             | EC               | CORP              | US        |      3055 | NS      | $120825.25    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| PBF Energy Inc                 | PBF Energy, Inc.                    | CUSIP: 69318G106<br>LEI: 2549003PBEDCSZMZIY02 | Long             | EC               | CORP              | US        |      8874 | NS      | $361881.72    | 3.03%             |  |  |  | No            |                  1 | On Loan: No      |
| NOV Inc                        | NOV, Inc.                           | CUSIP: 62955J103<br>LEI: 549300EHF3IW1AR6U008 | Long             | EC               | CORP              | US        |      6354 | NS      | $132735.06    | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| United Therapeutics Corp       | United Therapeutics Corp.           | CUSIP: 91307C102<br>LEI: 5299005C4HZL4UWROC14 | Long             | EC               | CORP              | US        |       335 | NS      | $93160.15     | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Cirrus Logic Inc               | Cirrus Logic, Inc.                  | CUSIP: 172755100<br>LEI: 549300NKSJEM5ZZSSV18 | Long             | EC               | CORP              | US        |      1701 | NS      | $126690.48    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Simpson Manufacturing Co Inc   | Simpson Manufacturing Company, Inc. | CUSIP: 829073105<br>LEI: 529900EJUNNL15LZ8056 | Long             | EC               | CORP              | US        |      1245 | NS      | $110381.70    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Neurocrine Biosciences Inc     | Neurocrine Biosciences, Inc.        | CUSIP: 64125C109<br>LEI: 549300FECER0XBN49756 | Long             | EC               | CORP              | US        |      1939 | NS      | $231594.16    | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Westlake Corp                  | Westlake Corp.                      | CUSIP: 960413102<br>LEI: GOXNEVUM0LL78B1OS344 | Long             | EC               | CORP              | US        |      2041 | NS      | $209284.14    | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Southwestern Energy Co         | Southwestern Energy Co.             | CUSIP: 845467109<br>LEI: EFWMP121W54QV9MGOP87 | Long             | EC               | CORP              | US        |     38352 | NS      | $224359.20    | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| FTI Consulting Inc             | FTI Consulting, Inc.                | CUSIP: 302941109<br>LEI: 549300K17GM8EQD0FQ48 | Long             | EC               | CORP              | US        |       620 | NS      | $98456.00     | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Visteon Corp                   | Visteon Corp.                       | CUSIP: 92839U206<br>LEI: 549300MOVLYHRW4GGW78 | Long             | EC               | CORP              | US        |       560 | NS      | $73264.80     | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Amkor Technology Inc           | Amkor Technology, Inc.              | CUSIP: 031652100<br>LEI: 529900VHLRTKPWZJBM84 | Long             | EC               | CORP              | US        |      7266 | NS      | $174238.68    | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Deckers Outdoor Corp           | Deckers Outdoor Corp.               | CUSIP: 243537107<br>LEI: 5493008LG4W3I6K8J118 | Long             | EC               | CORP              | US        |       267 | NS      | $106575.72    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Fair Isaac Corp                | Fair Isaac Corp.                    | CUSIP: 303250104<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | EC               | CORP              | US        |       173 | NS      | $103554.34    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Service Corp International/US  | Service Corporation International   | CUSIP: 817565104<br>LEI: 549300RKVM2ME20JHZ15 | Long             | EC               | CORP              | US        |      1350 | NS      | $93339.00     | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Grand Canyon Education Inc     | Grand Canyon Education, Inc.        | CUSIP: 38526M106<br>LEI: 529900XFER799IYOSW74 | Long             | EC               | CORP              | US        |      1694 | NS      | $178988.04    | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Tempur Sealy International Inc | Tempur Sealy International, Inc.    | CUSIP: 88023U101<br>LEI: 549300HFEKVR3US71V91 | Long             | EC               | CORP              | US        |      4071 | NS      | $139757.43    | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Jefferies Financial Group Inc  | Jefferies Financial Group, Inc.     | CUSIP: 47233W109<br>LEI: 549300HOF34RGOJ5YL07 | Long             | EC               | CORP              | US        |      5567 | NS      | $190836.76    | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| WEX Inc                        | WEX, Inc.                           | CUSIP: 96208T104<br>LEI: T9M5IGROL1TL1G5OV478 | Long             | EC               | CORP              | US        |       529 | NS      | $86570.85     | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Louisiana-Pacific Corp         | Louisiana-Pacific Corp.             | CUSIP: 546347105<br>LEI: 549300C7E2UAO5BVRR75 | Long             | EC               | CORP              | US        |      3304 | NS      | $195596.80    | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Roadhouse Inc            | Texas Roadhouse, Inc.               | CUSIP: 882681109<br>LEI: 5299002Y1CNRPDGXTQ75 | Long             | EC               | CORP              | US        |      1247 | NS      | $113414.65    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinsale Capital Group Inc      | Kinsale Capital Group, Inc.         | CUSIP: 49714P108<br>LEI: 529900QTUQHNZ6HOA508 | Long             | EC               | CORP              | US        |       903 | NS      | $236152.56    | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| H&R Block Inc                  | H&R Block, Inc.                     | CUSIP: 093671105<br>LEI: 549300CE3KUCWLZBG404 | Long             | EC               | CORP              | US        |      2868 | NS      | $104710.68    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Eagle Materials Inc            | Eagle Materials, Inc.               | CUSIP: 26969P108<br>LEI: 529900KRXRGXL61SG039 | Long             | EC               | CORP              | US        |       658 | NS      | $87415.30     | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Carlisle Cos Inc               | Carlisle Companies, Inc.            | CUSIP: 142339100<br>LEI: XR64VGX1ZPX6G7ZN7Z11 | Long             | EC               | CORP              | US        |       425 | NS      | $100151.25    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Medpace Holdings Inc           | Medpace Holdings, Inc.              | CUSIP: 58506Q109<br>LEI: 549300H8TYEUVTW14A54 | Long             | EC               | CORP              | US        |       668 | NS      | $141889.88    | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| KBR Inc                        | KBR, Inc.                           | CUSIP: 48242W106<br>LEI: 254900OFQDXZRKRCV808 | Long             | EC               | CORP              | US        |      1738 | NS      | $91766.40     | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Cabot Corp                     | Cabot Corp.                         | CUSIP: 127055101<br>LEI: K05C0SER542GQ6VLRO68 | Long             | EC               | CORP              | US        |      1581 | NS      | $105674.04    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| EMCOR Group Inc                | EMCOR Group, Inc.                   | CUSIP: 29084Q100<br>LEI: 529900X0SQJB2J7YDU43 | Long             | EC               | CORP              | US        |       711 | NS      | $105306.21    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Antero Resources Corp          | Antero Resources Corp.              | CUSIP: 03674X106<br>LEI: APVBKPOULHUX7YZLKU17 | Long             | EC               | CORP              | US        |      9452 | NS      | $292917.48    | 2.45%             |  |  |  | No            |                  1 | On Loan: No      |
| RLI Corp                       | RLI Corp.                           | CUSIP: 749607107<br>LEI: 529900AMTJE5ECN9PS55 | Long             | EC               | CORP              | US        |      1651 | NS      | $216726.77    | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Inari Medical Inc              | Inari Medical, Inc.                 | CUSIP: 45332Y109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2413 | NS      | $153370.28    | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Casey's General Stores Inc     | Casey's General Stores, Inc.        | CUSIP: 147528103<br>LEI: 549300CAFWSI86V66Q65 | Long             | EC               | CORP              | US        |       750 | NS      | $168262.50    | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Nexstar Media Group Inc        | Nexstar Media Group, Inc.           | CUSIP: 65336K103<br>LEI: 52990083ZRR5UT591988 | Long             | EC               | CORP              | US        |      1303 | NS      | $228064.09    | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Concentrix Corp                | Concentrix Corp.                    | CUSIP: 20602D101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       942 | NS      | $125436.72    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| PDC Energy Inc                 | PDC Energy, Inc.                    | CUSIP: 69327R101<br>LEI: 5493008W8H2T511J5Y59 | Long             | EC               | CORP              | US        |      4448 | NS      | $282359.04    | 2.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Paylocity Holding Corp         | Paylocity Holding Corp.             | CUSIP: 70438V106<br>LEI: 549300VH75FTB4DIEE07 | Long             | EC               | CORP              | US        |       408 | NS      | $79258.08     | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Lantheus Holdings Inc          | Lantheus Holdings, Inc.             | CUSIP: 516544103<br>LEI: 5299005HUB5IOJGO7S39 | Long             | EC               | CORP              | US        |      1966 | NS      | $100187.36    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| FirstCash Holdings Inc         | FirstCash Holdings, Inc.            | CUSIP: 33768G107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1053 | NS      | $91516.23     | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Wingstop Inc                   | Wingstop, Inc.                      | CUSIP: 974155103<br>LEI: 549300SSH3F8HPIM3Q47 | Long             | EC               | CORP              | US        |       700 | NS      | $96334.00     | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Jazz Pharmaceuticals PLC       | Jazz Pharmaceuticals plc            | CUSIP: N/A<br>LEI: 635400GAUMJCLEZRRV50       | Long             | EC               | CORP              | US        |       859 | NS      | $136847.29    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Annaly Capital Management Inc  | Annaly Capital Management, Inc.     | CUSIP: 035710839<br>LEI: 2DTL0G3FPRYUT58TI025 | Long             | EC               | CORP              | US        |     15568 | NS      | $328173.44    | 2.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Builders FirstSource Inc       | Builders FirstSource, Inc.          | CUSIP: 12008R107<br>LEI: 549300W0SKP6L3H7DP63 | Long             | EC               | CORP              | US        |      3320 | NS      | $215401.60    | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Avis Budget Group Inc          | Avis Budget Group, Inc.             | CUSIP: 053774105<br>LEI: 529900E95812SYWMCE44 | Long             | EC               | CORP              | US        |       867 | NS      | $142127.31    | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| HealthEquity Inc               | HealthEquity, Inc.                  | CUSIP: 42226A107<br>LEI: 529900LRJU1RAFQHM467 | Long             | EC               | CORP              | US        |      1139 | NS      | $70207.96     | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| BARCLAYS CAPITAL INC.          | Barclays Capital, Inc.              | CUSIP: N/A<br>LEI: AC28XWWI3WIBK2824319       | Long             | RA               | CORP              | US        |     22488 | PA      | $22487.97     | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Option Care Health Inc         | Option Care Health, Inc.            | CUSIP: 68404L201<br>LEI: 549300DI3Q5ACSYJRI17 | Long             | EC               | CORP              | US        |      3971 | NS      | $119487.39    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| CNX Resources Corp             | CNX Resources Corp.                 | CUSIP: 12653C108<br>LEI: 549300JK3KH8PWM3B226 | Long             | EC               | CORP              | US        |     12654 | NS      | $213093.36    | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Darling Ingredients Inc        | Darling Ingredients, Inc.           | CUSIP: 237266101<br>LEI: L1N0SPPKS7EXZYUMZ898 | Long             | EC               | CORP              | US        |      2525 | NS      | $158039.75    | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Essential Utilities Inc        | Essential Utilities, Inc.           | CUSIP: 29670G102<br>LEI: 549300ILTEOF3E3QY357 | Long             | EC               | CORP              | US        |      3370 | NS      | $160850.10    | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Calix Inc                      | Calix, Inc.                         | CUSIP: 13100M509<br>LEI: 5299002RQRZ4SXSCSJ58 | Long             | EC               | CORP              | US        |      1384 | NS      | $94707.12     | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Toro Co/The                    | Toro Co.                            | CUSIP: 891092108<br>LEI: YJKE4YIT6BWQHVEW0D14 | Long             | EC               | CORP              | US        |       752 | NS      | $85126.40     | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| BOFA SECURITIES, INC.          | BofA Securities, Inc.               | CUSIP: N/A<br>LEI: 549300HN4UKV1E2R3U73       | Long             | RA               | CORP              | US        |     22558 | PA      | $22557.83     | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Exelixis Inc                   | Exelixis, Inc.                      | CUSIP: 30161Q104<br>LEI: 254900PJQB59O2O95R37 | Long             | EC               | CORP              | US        |      5096 | NS      | $81739.84     | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Halozyme Therapeutics Inc      | Halozyme Therapeutics, Inc.         | CUSIP: 40637H109<br>LEI: 529900242I3SV9AGM753 | Long             | EC               | CORP              | US        |      4567 | NS      | $259862.30    | 2.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Murphy USA Inc                 | Murphy USA, Inc.                    | CUSIP: 626755102<br>LEI: 549300Y081F8XIKQIO72 | Long             | EC               | CORP              | US        |       928 | NS      | $259413.12    | 2.17%             |  |  |  | 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        |     58650 | PA      | $58650.37     | 0.49%             |  |  |  | No            |                  2 | On Loan: No      |
| Olin Corp                      | Olin Corp.                          | CUSIP: 680665205<br>LEI: 549300GKK294V7W57P06 | Long             | EC               | CORP              | US        |      2238 | NS      | $118479.72    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Silgan Holdings Inc            | Silgan Holdings, Inc.               | CUSIP: 827048109<br>LEI: KAF673KJXD92C8KSLU49 | Long             | EC               | CORP              | US        |      2489 | NS      | $129029.76    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| SLM Corp                       | SLM Corp.                           | CUSIP: 78442P106<br>LEI: 4K8SLPBF5DXXGPW03H93 | Long             | EC               | CORP              | US        |     10769 | NS      | $178765.40    | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Matador Resources Co           | Matador Resources Co.               | CUSIP: 576485205<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | EC               | CORP              | US        |      4779 | NS      | $273549.96    | 2.29%             |  |  |  | No            |                  1 | On Loan: No      |
| MP Materials Corp              | MP Materials Corp.                  | CUSIP: 553368101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4453 | NS      | $108118.84    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Selective Insurance Group Inc  | Selective Insurance Group, Inc.     | CUSIP: 816300107<br>LEI: 549300R3WGJWLE40R258 | Long             | EC               | CORP              | US        |       915 | NS      | $81078.15     | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Belden Inc                     | Belden, Inc.                        | CUSIP: 077454106<br>LEI: 68BKYO1JC791TTJHUE82 | Long             | EC               | CORP              | US        |      1444 | NS      | $103823.60    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Celsius Holdings Inc           | Celsius Holdings, Inc.              | CUSIP: 15118V207<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2259 | NS      | $235026.36    | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Shockwave Medical Inc          | Shockwave Medical, Inc.             | CUSIP: 82489T104<br>LEI: 549300LDXO56IC5Y1538 | Long             | EC               | CORP              | US        |      1127 | NS      | $231722.47    | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-30

**Name of Applicant:** Rydex Variable Trust

**Signature:** Jim Howley

**Name of Signer:** Jim Howley

**Title:** CFO