# EDGAR Filing Document

**Accession Number:** 0001064046
**File Stem:** 0000940400-26-022847
**Filing Date:** 2026-6
**Character Count:** 21271
**Document Hash:** 92da132991bafda592e3b4490267b4ab
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-022847.hdr.sgml**: 20260601

**ACCESSION NUMBER**: 0000940400-26-022847

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260601

**DATE AS OF CHANGE**: 20260601

**PERIOD START**: 20261231

**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:** 261048524

**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

### Telecommunications Fund (Series ID: S000003723)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010392 | 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 BOULEVARD

  - **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:** Telecommunications Fund

- **b. EDGAR series identifier (if any):** S000003723

- **c. LEI of Series:** 549300J0GWL34DCN7G96

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

- **a. Date of fiscal year-end:** 2026-12-31

- **b. Date as of which information is reported:** 2026-03-31

**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:** $4548150.80

**Total Liabilities:** $94201.15

**Net Assets:** $4453949.65

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000010392 | 6.25%                | 9.16%                | -0.84%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $82409.30                | $243282.78                                 |
| Month 2  | $109242.03               | $244381.12                                 |
| Month 3  | $38323.28                | $-92320.04                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| T-Mobile US Inc                                    | T-Mobile US Inc COM                                          | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |       977 | NS      | $205199.31    | 4.61%             |  |  |  | No            |                  1 | On Loan: No      |
| GCI LIBERTY INC                                    | GCI Liberty Inc. COM SER C                                   | CUSIP: 36164V800<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       443 | NS      | $16484.03     | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Charter Communications, Inc.                       | Charter Communications, Inc. CL A                            | CUSIP: 16119P108<br>LEI: 0J0XRGZE3PBRFEZ7MV65 | Long             | EC               | CORP              | US        |       583 | NS      | $125858.04    | 2.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Viavi Solutions Inc                                | Viavi Solutions Inc COM                                      | CUSIP: 925550105<br>LEI: 5493006K3E3N1QOBF092 | Long             | EC               | CORP              | US        |      2438 | NS      | $81136.64     | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| COGENT COMMUNICATIONS HOLDINGS INC                 | Cogent Communications Holdings, Inc. COM NEW                 | CUSIP: 19239V302<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1242 | NS      | $23399.28     | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Motorola Solutions Inc                             | Motorola Solutions Inc COM NEW                               | CUSIP: 620076307<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | EC               | CORP              | US        |       418 | NS      | $181399.46    | 4.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Harmonic Inc                                       | Harmonic Inc COM                                             | CUSIP: 413160102<br>LEI: 549300LRGRD8XC9BTL66 | Long             | EC               | CORP              | US        |      2954 | NS      | $26526.92     | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| LIBERTY GLOBAL LTD                                 | Liberty Global Ltd. COM CL A                                 | CUSIP: 000000000<br>LEI: 213800HRMKKTYH7SKA24 | Long             | EC               | CORP              | BM        |      5347 | NS      | $64645.23     | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Extreme Networks Inc.                              | Extreme Networks Inc. COM                                    | CUSIP: 30226D106<br>LEI: 549300WRECW11X94UB57 | Long             | EC               | CORP              | US        |      2668 | NS      | $40233.44     | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Ubiquiti Inc                                       | Ubiquiti Inc COM                                             | CUSIP: 90353W103<br>LEI: 5299007MITA4DMQCU747 | Long             | EC               | CORP              | US        |        33 | NS      | $26079.57     | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Ondas Inc.                                         | Ondas Inc. COM NEW                                           | CUSIP: 68236H204<br>LEI: 549300JWLHDUB82V8607 | Long             | EC               | CORP              | US        |      5571 | NS      | $50361.84     | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Latin America Ltd                          | Liberty Latin America Ltd COM USD0.01 CL C                   | CUSIP: 000000000<br>LEI: 213800YWQHEAX7CAVO83 | Long             | EC               | CORP              | BM        |      3925 | NS      | $34618.50     | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED | MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED TRI PARTY | CUSIP: 000000000<br>LEI: 8NAV47T0Y26Q87Y0QP81 | Long             | RA               | CORP              | US        |     11612 | PA      | $11611.64     | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| KT Corp.                                           | KT Corp. SPONSORED ADR                                       | CUSIP: 48268K101<br>LEI: 9884005ACF8449EANY26 | Long             | EC               | CORP              | KR        |      3028 | NS      | $64950.60     | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Arista Networks Inc                                | Arista Networks Inc COM SHS                                  | CUSIP: 040413205<br>LEI: 635400H1WKBLOQERUU95 | Long             | EC               | CORP              | US        |      1881 | NS      | $230949.18    | 5.19%             |  |  |  | No            |                  1 | On Loan: No      |
| EchoStar Corp.                                     | EchoStar Corp. CL A                                          | CUSIP: 278768106<br>LEI: 549300EE20907QZ9GT38 | Long             | EC               | CORP              | US        |      1351 | NS      | $158161.57    | 3.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Nokia Corp                                         | Nokia Corp SPONSORED ADR                                     | CUSIP: 654902204<br>LEI: 549300A0JPRWG1KI7U06 | Long             | EC               | CORP              | FI        |      9765 | NS      | $78510.60     | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| BCE Inc.                                           | BCE Inc. COM NEW                                             | CUSIP: 05534B760<br>LEI: 5493001I9203PRB5KR45 | Long             | EC               | CORP              | CA        |      2753 | NS      | $69485.72     | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| TELEPHONE & DATA SYSTEMS INC                       | Telephone and Data Systems Inc. COM NEW                      | CUSIP: 879433829<br>LEI: 5299003YZW5BE2NNLO37 | Long             | EC               | CORP              | US        |      1329 | NS      | $55950.90     | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Optoelectronics Inc                        | Applied Optoelectronics Inc COM                              | CUSIP: 03823U102<br>LEI: 529900I8U6Q5SYDNLT48 | Long             | EC               | CORP              | US        |       785 | NS      | $66403.15     | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERDIGITAL INC                                   | InterDigital, Inc. COM                                       | CUSIP: 45867G101<br>LEI: 529900HQAUTC3VI47G64 | Long             | EC               | CORP              | US        |       120 | NS      | $36240.00     | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| VERSANT MEDIA GROUP INC                            | Versant Media Group Inc. COM CL A                            | CUSIP: 925283103<br>LEI: 254900D2Q5F5F229PU30 | Long             | EC               | CORP              | US        |      1705 | NS      | $63119.10     | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Lumentum Holdings Inc.                             | Lumentum Holdings Inc. COM                                   | CUSIP: 55024U109<br>LEI: 549300JLWRRC38DWEF52 | Long             | EC               | CORP              | US        |       275 | NS      | $193259.00    | 4.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Ciena Corporation                                  | Ciena Corporation COM NEW                                    | CUSIP: 171779309<br>LEI: W0CZ7N0GH8UIGXDM1H41 | Long             | EC               | CORP              | US        |       509 | NS      | $197609.07    | 4.44%             |  |  |  | No            |                  1 | On Loan: No      |
| ADTRAN Holdings Inc                                | ADTRAN Holdings Inc COM                                      | CUSIP: 00486H105<br>LEI: 549300VV36J86CRRWF77 | Long             | EC               | CORP              | US        |      2404 | NS      | $30242.32     | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Millicom International Cellular SA                 | Millicom International Cellular SA COM USD1.50               | CUSIP: 000000000<br>LEI: 549300CTHC1CP86P2G96 | Long             | EC               | CORP              | LU        |      1011 | NS      | $75764.34     | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corporation                                | Comcast Corporation CL A                                     | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |      7288 | NS      | $209238.48    | 4.70%             |  |  |  | No            |                  1 | On Loan: No      |
| TELUS CORP                                         | Telus Corp. COM                                              | CUSIP: 87971M103<br>LEI: 894500TX134IMF6NW757 | Long             | EC               | CORP              | CA        |      5279 | NS      | $67729.57     | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Vodafone Group PLC                                 | Vodafone Group PLC SPONSORED ADR                             | CUSIP: 92857W308<br>LEI: 213800TB53ELEUKM7Q61 | Long             | EC               | CORP              | GB        |      4729 | NS      | $71029.58     | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Netgear Inc                                        | Netgear Inc COM                                              | CUSIP: 64111Q104<br>LEI: 54930067KX3UNRHDWA78 | Long             | EC               | CORP              | US        |       821 | NS      | $17930.64     | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems, Inc.                                | Cisco Systems, Inc. COM                                      | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |      4515 | NS      | $350318.85    | 7.87%             |  |  |  | No            |                  1 | On Loan: No      |
| America Movil S.A.B. de C.V.                       | America Movil S.A.B. de C.V. SPON ADS RP CL B                | CUSIP: 02390A101<br>LEI: 5493000FNR3UCEAONM59 | Long             | EC               | CORP              | MX        |      2886 | NS      | $73535.28     | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITI GROUP INC                                    | Uniti Group LLC COM SHS                                      | CUSIP: 912932100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4992 | NS      | $46824.96     | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| ViaSat, Inc.                                       | ViaSat, Inc. COM                                             | CUSIP: 92552V100<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | EC               | CORP              | US        |      1199 | NS      | $54914.20     | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Telefonaktiebolaget LM Ericsson (publ)             | Telefonaktiebolaget LM Ericsson (publ) ADR B SEK 10          | CUSIP: 294821608<br>LEI: 549300W9JLPW15XIFM52 | Long             | EC               | CORP              | SE        |      6696 | NS      | $75463.92     | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Globalstar Inc                                     | Globalstar Inc COM NEW                                       | CUSIP: 378973507<br>LEI: 549300NEX8I0MSOW0R64 | Long             | EC               | CORP              | US        |       513 | NS      | $34073.46     | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Iridium Communications, Inc.                       | Iridium Communications, Inc. COM                             | CUSIP: 46269C102<br>LEI: 549300U620NVQ4J1CT96 | Long             | EC               | CORP              | US        |      1670 | NS      | $46325.80     | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Roku Inc                                           | Roku Inc COM CL A                                            | CUSIP: 77543R102<br>LEI: 549300KR6ITU0YIR1T71 | Long             | EC               | CORP              | US        |      1122 | NS      | $106163.64    | 2.38%             |  |  |  | No            |                  1 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                         | J.P. MORGAN SECURITIES LLC TRI PARTY                         | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | Long             | RA               | CORP              | US        |     12777 | PA      | $12777.21     | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| AT&T Inc                                           | AT&T Inc COM                                                 | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |     10578 | NS      | $306656.22    | 6.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Rogers Communications Inc.                         | Rogers Communications Inc. CL B                              | CUSIP: 775109200<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | EC               | CORP              | CA        |      1686 | NS      | $64826.70     | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Verizon Communications Inc.                        | Verizon Communications Inc. COM                              | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |      5798 | NS      | $291059.60    | 6.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Vistance Networks Inc.                             | Vistance Networks Inc. COM                                   | CUSIP: 20337X109<br>LEI: 254900AW4CEPCQWSRI58 | Long             | EC               | CORP              | US        |      3008 | NS      | $54745.60     | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| NETSCOUT Systems Inc.                              | NETSCOUT Systems Inc. COM                                    | CUSIP: 64115T104<br>LEI: 5493005HZXZ3SPNVCV76 | Long             | EC               | CORP              | US        |      1338 | NS      | $42535.02     | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Lumen Technologies Inc                             | Lumen Technologies Inc COM                                   | CUSIP: 550241103<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | EC               | CORP              | US        |     10726 | NS      | $74545.70     | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Gogo Inc                                           | Gogo Inc COM                                                 | CUSIP: 38046C109<br>LEI: 549300VL3DIHSFHYTO04 | Long             | EC               | CORP              | US        |      3675 | NS      | $14773.50     | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| F5 Inc                                             | F5 Inc COM                                                   | CUSIP: 315616102<br>LEI: 54930015FPK9KT966303 | Long             | EC               | CORP              | US        |       395 | NS      | $114285.35    | 2.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Calix Inc.                                         | Calix Inc. COM                                               | CUSIP: 13100M509<br>LEI: 5299002RQRZ4SXSCSJ58 | Long             | EC               | CORP              | US        |       967 | NS      | $47373.33     | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| AST SpaceMobile Inc.                               | AST SpaceMobile Inc. COM CL A                                | CUSIP: 00217D100<br>LEI: 254900MBSC9P2UCI6623 | Long             | EC               | CORP              | US        |      1738 | NS      | $144028.06    | 3.23%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-06-01

**Name of Applicant:** Rydex Variable Trust

**Signature:** James Howley

**Name of Signer:** James Howley

**Title:** Chief Financial Officer