# EDGAR Filing Document

**Accession Number:** 0001064046
**File Stem:** 0001752724-25-209244
**Filing Date:** 2025-8
**Character Count:** 28819
**Document Hash:** bdef97f5adeddf4a2f8b4cb2096c7fdd
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-209244.hdr.sgml**: 20250827

**ACCESSION NUMBER**: 0001752724-25-209244

**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:** 251264210

**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

### Transportation Fund (Series ID: S000003724)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010393 | 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:** Transportation Fund

- **b. EDGAR series identifier (if any):** S000003724

- **c. LEI of Series:** 549300B7U5TQYKDWLG56

**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:** $3370552.09

**Total Liabilities:** $11318.69

**Net Assets:** $3359233.40

**Cash Not Reported:** $110.01

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000010393 | -1.79%               | 9.95%                | 1.82%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-37269.05               | $-29349.76                                 |
| Month 2  | $339.84                  | $286995.58                                 |
| Month 3  | $22800.79                | $32149.61                                  |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Alaska Air Group Inc           | Alaska Air Group, Inc.                               | CUSIP: 011659109<br>LEI: 529900G48RT4KWLC6C27 | Long             | EC               | CORP              | US        |       608 | NS      | $30083.84     | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Allegiant Travel Co            | Allegiant Travel Co.                                 | CUSIP: 01748X102<br>LEI: 549300JM9OZXOHWL2K18 | Long             | EC               | CORP              | US        |       164 | NS      | $9011.80      | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| American Airlines Group Inc    | American Airlines Group, Inc.                        | CUSIP: 02376R102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3035 | NS      | $34052.70     | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| ArcBest Corp                   | ArcBest Corp.                                        | CUSIP: 03937C105<br>LEI: 5493006S3KBNE8ZS3J23 | Long             | EC               | CORP              | US        |       213 | NS      | $16403.13     | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Autoliv Inc                    | Autoliv, Inc.                                        | CUSIP: 052800109<br>LEI: A23RUXWKASG834LTMK28 | Long             | EC               | CORP              | US        |       394 | NS      | $44088.60     | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Avis Budget Group Inc          | Avis Budget Group, Inc.                              | CUSIP: 053774105<br>LEI: 529900E95812SYWMCE44 | Long             | EC               | CORP              | US        |       142 | NS      | $24005.10     | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| BorgWarner Inc                 | BorgWarner, Inc.                                     | CUSIP: 099724106<br>LEI: 549300DSFX2IE88NSX47 | Long             | EC               | CORP              | US        |       998 | NS      | $33413.04     | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| CH Robinson Worldwide Inc      | CH Robinson Worldwide, Inc.                          | CUSIP: 12541W209<br>LEI: 529900WNWN5L0OVDHA79 | Long             | EC               | CORP              | US        |       430 | NS      | $41258.50     | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| CSX Corp                       | CSX Corp.                                            | CUSIP: 126408103<br>LEI: 549300JVQR4N1MMP3Q88 | Long             | EC               | CORP              | US        |      2975 | NS      | $97074.25     | 2.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian National Railway Co   | Canadian National Railway Co.                        | CUSIP: 136375102<br>LEI: 3SU7BEP7TH9YEQOZCS77 | Long             | EC               | CORP              | US        |       426 | NS      | $44321.04     | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Pacific Kansas City L | Canadian Pacific Kansas City Ltd.                    | CUSIP: 13646K108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       569 | NS      | $45104.63     | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Delta Air Lines Inc            | Delta Air Lines, Inc.                                | CUSIP: 247361702<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | EC               | CORP              | US        |      1434 | NS      | $70524.12     | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Dorman Products Inc            | Dorman Products, Inc.                                | CUSIP: 258278100<br>LEI: 2549000O0BBUX740XR59 | Long             | EC               | CORP              | US        |       142 | NS      | $17419.14     | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Expeditors International of Wa | Expeditors International of Washington, Inc.         | CUSIP: 302130109<br>LEI: 984500B055A804AB6E40 | Long             | EC               | CORP              | US        |       425 | NS      | $48556.25     | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| FedEx Corp                     | FedEx Corp.                                          | CUSIP: 31428X106<br>LEI: 549300E707U7WNPZN687 | Long             | EC               | CORP              | US        |       384 | NS      | $87287.04     | 2.60%             |  |  |  | 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        |    156234 | NS      | $156234.50    | 4.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Ford Motor Co                  | Ford Motor Co.                                       | CUSIP: 345370860<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | EC               | CORP              | US        |      7619 | NS      | $82666.15     | 2.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Forward Air Corp               | Forward Air Corp.                                    | CUSIP: 34986A104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       381 | NS      | $9349.74      | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Fox Factory Holding Corp       | Fox Factory Holding Corp.                            | CUSIP: 35138V102<br>LEI: 529900GE1HSV0617R721 | Long             | EC               | CORP              | US        |       456 | NS      | $11828.64     | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| GXO Logistics Inc              | GXO Logistics, Inc.                                  | CUSIP: 36262G101<br>LEI: 5493007CNWMXN78JRN66 | Long             | EC               | CORP              | US        |       621 | NS      | $30242.70     | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| General Motors Co              | General Motors Co.                                   | CUSIP: 37045V100<br>LEI: 54930070NSV60J38I987 | Long             | EC               | CORP              | US        |      1732 | NS      | $85231.72     | 2.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Gentex Corp                    | Gentex Corp.                                         | CUSIP: 371901109<br>LEI: 549300S3UD8XV1MN0287 | Long             | EC               | CORP              | US        |      1227 | NS      | $26981.73     | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Goodyear Tire & Rubber Co/The  | Goodyear Tire & Rubber Co.                           | CUSIP: 382550101<br>LEI: 5493002BI0S2ZQUY3437 | Long             | EC               | CORP              | US        |      1879 | NS      | $19485.23     | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Harley-Davidson Inc            | Harley-Davidson, Inc.                                | CUSIP: 412822108<br>LEI: ZDNAWZWXIKMWI51R2A08 | Long             | EC               | CORP              | US        |       821 | NS      | $19375.60     | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Hertz Global Holdings Inc      | Hertz Global Holdings, Inc.                          | CUSIP: 42806J700<br>LEI: 549300NBK3K85MH1EX16 | Long             | EC               | CORP              | US        |      1746 | NS      | $11925.18     | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Hub Group Inc                  | Hub Group, Inc.                                      | CUSIP: 443320106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       521 | NS      | $17417.03     | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| JB Hunt Transport Services Inc | J.B. Hunt Transport Services, Inc.                   | CUSIP: 445658107<br>LEI: 549300XCD1MPI1C5GK90 | Long             | EC               | CORP              | US        |       290 | NS      | $41644.00     | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| JetBlue Airways Corp           | JetBlue Airways Corp.                                | CUSIP: 477143101<br>LEI: 54930070J9H97ZO93T57 | Long             | EC               | CORP              | US        |      3016 | NS      | $12757.68     | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Kirby Corp                     | Kirby Corp.                                          | CUSIP: 497266106<br>LEI: I7NO6FZO5GUCG585T325 | Long             | EC               | CORP              | US        |       275 | NS      | $31187.75     | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Knight-Swift Transportation Ho | Knight-Swift Transportation Holdings, Inc.           | CUSIP: 499049104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       739 | NS      | $32685.97     | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Li Auto Inc                    | Li Auto, Inc.                                        | CUSIP: 50202M102<br>LEI: 2549003R73Q70J5H4I65 | Long             | EC               | CORP              | KY        |      1536 | NS      | $41640.96     | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Landstar System Inc            | Landstar System, Inc.                                | CUSIP: 515098101<br>LEI: 254900CUQXQRL09MEI52 | Long             | EC               | CORP              | US        |       150 | NS      | $20853.00     | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Lear Corp                      | Lear Corp.                                           | CUSIP: 521865204<br>LEI: 549300UPNBTXA1SYTQ33 | Long             | EC               | CORP              | US        |       294 | NS      | $27924.12     | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Lucid Group Inc                | Lucid Group, Inc.                                    | CUSIP: 549498103<br>LEI: 529900MRL9Z13ZCRVD74 | Long             | EC               | CORP              | US        |      7482 | NS      | $15787.02     | 0.47%             |  |  |  | No            |                  1 | On Loan: —       |
| Lyft Inc                       | Lyft, Inc.                                           | CUSIP: 55087P104<br>LEI: 549300H7I5VN334XVZ52 | Long             | EC               | CORP              | US        |      1991 | NS      | $31378.16     | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Magna International Inc        | Magna International, Inc.                            | CUSIP: 559222401<br>LEI: 95RWVLFZX6VGDZNNTN43 | Long             | EC               | CORP              | US        |      1128 | NS      | $43552.08     | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Matson Inc                     | Matson, Inc.                                         | CUSIP: 57686G105<br>LEI: 549300OI5H3Y0I9I4I12 | Long             | EC               | CORP              | US        |       207 | NS      | $23049.45     | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Mobileye Global Inc            | Mobileye Global, Inc.                                | CUSIP: 60741F104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2746 | NS      | $49373.08     | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Modine Manufacturing Co        | Modine Manufacturing Co.                             | CUSIP: 607828100<br>LEI: Z35SZFYJR8GZZRSIUU09 | Long             | EC               | CORP              | US        |       280 | NS      | $27580.00     | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| NIO Inc                        | NIO, Inc.                                            | CUSIP: 62914V106<br>LEI: 549300JBU4TV5OCKJV96 | Long             | EC               | CORP              | KY        |     12163 | NS      | $41719.09     | 1.24%             |  |  |  | No            |                  1 | On Loan: —       |
| Norfolk Southern Corp          | Norfolk Southern Corp.                               | CUSIP: 655844108<br>LEI: 54930036C8MWP850MI84 | Long             | EC               | CORP              | US        |       370 | NS      | $94708.90     | 2.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Old Dominion Freight Line Inc  | Old Dominion Freight Line, Inc.                      | CUSIP: 679580100<br>LEI: 5299009TWK32WE417T96 | Long             | EC               | CORP              | US        |       421 | NS      | $68328.30     | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Patrick Industries Inc         | Patrick Industries, Inc.                             | CUSIP: 703343103<br>LEI: 549300FZ5ZTCCJ3Z5W14 | Long             | EC               | CORP              | US        |       189 | NS      | $17439.03     | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| QuantumScape Corp              | QuantumScape Corp.                                   | CUSIP: 74767V109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3795 | NS      | $25502.40     | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Rivian Automotive Inc          | Rivian Automotive, Inc.                              | CUSIP: 76954A103<br>LEI: 25490004LNKJ84MFYY24 | Long             | EC               | CORP              | US        |      3103 | NS      | $42635.22     | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryanair Holdings PLC           | Ryanair Holdings plc                                 | CUSIP: 783513203<br>LEI: 635400BR2ROC1FVEBQ56 | Long             | EC               | CORP              | US        |       771 | NS      | $44463.57     | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryder System Inc               | Ryder System, Inc.                                   | CUSIP: 783549108<br>LEI: ZXJ6Y2OSPZXIVGRILD15 | Long             | EC               | CORP              | US        |       199 | NS      | $31641.00     | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Saia Inc                       | Saia, Inc.                                           | CUSIP: 78709Y105<br>LEI: 549300WNPG4N9GBOYB29 | Long             | EC               | CORP              | US        |       125 | NS      | $34248.75     | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| SkyWest Inc                    | SkyWest, Inc.                                        | CUSIP: 830879102<br>LEI: 529900UYS2KGS6Z42P09 | Long             | EC               | CORP              | US        |       230 | NS      | $23683.10     | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Southwest Airlines Co          | Southwest Airlines Co.                               | CUSIP: 844741108<br>LEI: UDTZ87G0STFETI6HGH41 | Long             | EC               | CORP              | US        |      1634 | NS      | $53006.96     | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| TFI International Inc          | TFI International, Inc.                              | CUSIP: 87241L109<br>LEI: 5493007R9W7KO7SJN678 | Long             | EC               | CORP              | US        |       474 | NS      | $42503.58     | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Tesla Inc                      | Tesla, Inc.                                          | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |      1151 | NS      | $365626.66    | 10.88%            |  |  |  | No            |                  1 | On Loan: No      |
| Thor Industries Inc            | Thor Industries, Inc.                                | CUSIP: 885160101<br>LEI: 254900XZO1228PDSG060 | Long             | EC               | CORP              | US        |       296 | NS      | $26287.76     | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Toyota Motor Corp              | Toyota Motor Corp.                                   | CUSIP: 892331307<br>LEI: 5493006W3QUS5LMH6R84 | Long             | EC               | CORP              | JP        |       237 | NS      | $40825.62     | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Uber Technologies Inc          | Uber Technologies, Inc.                              | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               | CORP              | US        |      1943 | NS      | $181281.90    | 5.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Union Pacific Corp             | Union Pacific Corp.                                  | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |       633 | NS      | $145640.64    | 4.34%             |  |  |  | No            |                  1 | On Loan: No      |
| United Airlines Holdings Inc   | United Airlines Holdings, Inc.                       | CUSIP: 910047109<br>LEI: 98450079DA0B78DD6764 | Long             | EC               | CORP              | US        |       815 | NS      | $64898.45     | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| United Parcel Service Inc      | United Parcel Service, Inc.                          | CUSIP: 911312106<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | EC               | CORP              | US        |      1131 | NS      | $114163.14    | 3.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Visteon Corp                   | Visteon Corp.                                        | CUSIP: 92839U206<br>LEI: 549300MOVLYHRW4GGW78 | Long             | EC               | CORP              | US        |       208 | NS      | $19406.40     | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Werner Enterprises Inc         | Werner Enterprises, Inc.                             | CUSIP: 950755108<br>LEI: 549300P6XRGOCHHJST37 | Long             | EC               | CORP              | US        |       571 | NS      | $15622.56     | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Winnebago Industries Inc       | Winnebago Industries, Inc.                           | CUSIP: 974637100<br>LEI: 549300B7OYKYJLTE3G11 | Long             | EC               | CORP              | US        |       354 | NS      | $10266.00     | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| XPO Inc                        | XPO, Inc.                                            | CUSIP: 983793100<br>LEI: 54930096DB9LCLPN7H13 | Long             | EC               | CORP              | US        |       372 | NS      | $46979.88     | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| ZTO Express Cayman Inc         | ZTO Express Cayman, Inc.                             | CUSIP: 98980A105<br>LEI: 549300SCJPK3YZJTJR78 | Long             | EC               | CORP              | KY        |      2438 | NS      | $43274.50     | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Adient PLC                     | Adient plc                                           | CUSIP: N/A<br>LEI: 5493002QLDY8O75RTR78       | Long             | EC               | CORP              | US        |       808 | NS      | $15723.68     | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Aptiv PLC                      | Aptiv plc                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |       645 | NS      | $44001.90     | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Golden Ocean Group Ltd         | Golden Ocean Group Ltd.                              | CUSIP: N/A<br>LEI: 549300HQH91CZG0OJL61       | Long             | EC               | CORP              | US        |      5410 | NS      | $39601.20     | 1.18%             |  |  |  | No            |                  1 | On Loan: —       |
| Grab Holdings Ltd              | Grab Holdings Ltd.                                   | CUSIP: N/A<br>LEI: 549300N4VQX83VPJF439       | Long             | EC               | CORP              | US        |      9844 | NS      | $49515.32     | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Joby Aviation Inc              | Joby Aviation, Inc.                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      2715 | NS      | $28643.25     | 0.85%             |  |  |  | No            |                  1 | On Loan: —       |
| ZIM Integrated Shipping Servic | ZIM Integrated Shipping Services Ltd.                | CUSIP: N/A<br>LEI: 21380089EIJRELKAIL21       | Long             | EC               | CORP              | US        |      2667 | NS      | $42912.03     | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Ferrari NV                     | Ferrari N.V.                                         | CUSIP: N/A<br>LEI: 549300RIVY5EX8RCON76       | Long             | EC               | CORP              | US        |        91 | NS      | $44657.34     | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Stellantis NV                  | Stellantis N.V.                                      | CUSIP: N/A<br>LEI: 549300LKT9PW7ZIBDF31       | Long             | EC               | CORP              | US        |      4349 | NS      | $43620.47     | 1.30%             |  |  |  | No            |                  1 | On Loan: —       |
| Copa Holdings SA               | Copa Holdings S.A.                                   | CUSIP: N/A<br>LEI: 529900BB9UQJV6QQHA59       | Long             | EC               | CORP              | US        |       400 | NS      | $43988.00     | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| BOFA SECURITIES, INC.          | BofA Securities, Inc.                                | CUSIP: N/A<br>LEI: 549300HN4UKV1E2R3U73       | Long             | RA               | CORP              | US        |      4927 | PA      | $4927.39      | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC.          | Barclays Capital, Inc.                               | CUSIP: N/A<br>LEI: AC28XWWI3WIBK2824319       | Long             | RA               | CORP              | US        |      5103 | PA      | $5102.80      | 0.15%             |  |  |  | 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        |     11826 | PA      | $11825.74     | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Star Bulk Carriers Corp        | Star Bulk Carriers Corp.                             | CUSIP: N/A<br>LEI: 549300SO3FMK7H6DDY54       | Long             | EC               | CORP              | US        |      2526 | NS      | $43573.50     | 1.30%             |  |  |  | No            |                  1 | On Loan: —       |

### Signature

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

**Name of Applicant:** Rydex Variable Trust

**Signature:** James Howley

**Name of Signer:** James Howley

**Title:** CFO