# EDGAR Filing Document

**Accession Number:** 0001064046
**File Stem:** 0000940400-26-022863
**Filing Date:** 2026-6
**Character Count:** 47841
**Document Hash:** b2b8feb28958ed01217b1e784bc61ef8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-022863.hdr.sgml**: 20260601

**ACCESSION NUMBER**: 0000940400-26-022863

**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:** 261048541

**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 500 Pure Value Fund (Series ID: S000003738)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010407 | 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:** S&P 500 Pure Value Fund

- **b. EDGAR series identifier (if any):** S000003738

- **c. LEI of Series:** 549300X1VNR3C7SILD97

**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:** $21484183.17

**Total Liabilities:** $1855289.58

**Net Assets:** $19628893.59

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000010407 | 3.77%                | 4.60%                | -3.99%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $32226.55                | $696737.16                                 |
| Month 2  | $-80894.57               | $886145.12                                 |
| Month 3  | $-66907.45               | $-752640.94                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Phillips 66                                        | Phillips 66 COM                                              | CUSIP: 718546104<br>LEI: 5493005JBO5YSIGK1814 | Long             | EC               | CORP              | US        |      1763 | NS      | $321183.34    | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| International Flavors & Fragrances Inc.            | International Flavors & Fragrances Inc. COM                  | CUSIP: 459506101<br>LEI: BZLRL03D3GPGMOGFO832 | Long             | EC               | CORP              | US        |      1760 | NS      | $127688.00    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Halliburton Company                                | Halliburton Company COM                                      | CUSIP: 406216101<br>LEI: ENYF8GB5SMQZ25S06U51 | Long             | EC               | CORP              | US        |      3561 | NS      | $138843.39    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Mckesson Corp.                                     | Mckesson Corp. COM                                           | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |       262 | NS      | $226724.32    | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Alexandria Real Estate Equities, Inc.              | Alexandria Real Estate Equities, Inc. COM                    | CUSIP: 015271109<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | EC               | CORP              | US        |      4678 | NS      | $217152.76    | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| PG&E Corporation                                   | PG&E Corporation COM                                         | CUSIP: 69331C108<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | EC               | CORP              | US        |     11061 | NS      | $194341.77    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Franklin Resources Inc.                            | Franklin Resources Inc. COM                                  | CUSIP: 354613101<br>LEI: RIFQSET379FOGTEFKS80 | Long             | EC               | CORP              | US        |      8602 | NS      | $203179.24    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| The Hartford Insurance Group Inc.                  | The Hartford Insurance Group Inc. COM                        | CUSIP: 416515104<br>LEI: IU7C3FTM7Y3BQM112U94 | Long             | EC               | CORP              | US        |       658 | NS      | $88981.34     | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| International Paper Co.                            | International Paper Co. COM                                  | CUSIP: 460146103<br>LEI: 824LMFJDH41EY779Q875 | Long             | EC               | CORP              | US        |      5129 | NS      | $183105.30    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| SLB LTD                                            | SLB Ltd. COM STK                                             | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | CW        |      1966 | NS      | $101032.74    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Loews Corporation                                  | Loews Corporation COM                                        | CUSIP: 540424108<br>LEI: R8V1FN4M5ITGZOG7BS19 | Long             | EC               | CORP              | US        |      1617 | NS      | $172598.58    | 0.88%             |  |  |  | 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        |     41354 | PA      | $41354.10     | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Walt Disney Company                                | Walt Disney Company COM                                      | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |       743 | NS      | $71610.34     | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Omnicom Group Inc                                  | Omnicom Group Inc COM                                        | CUSIP: 681919106<br>LEI: HKUPACFHSSASQK8HLS17 | Long             | EC               | CORP              | US        |      1322 | NS      | $99559.82     | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Consolidated Edison, Inc.                          | Consolidated Edison, Inc. COM                                | CUSIP: 209115104<br>LEI: 54930033SBW53OO8T749 | Long             | EC               | CORP              | US        |       971 | NS      | $109897.78    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Tyson Foods, Inc.                                  | Tyson Foods, Inc. CL A                                       | CUSIP: 902494103<br>LEI: WD6L6041MNRW1JE49D58 | Long             | EC               | CORP              | US        |      6436 | NS      | $412354.52    | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| PNC Financial Services Group Inc.                  | PNC Financial Services Group Inc. COM                        | CUSIP: 693475105<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | EC               | CORP              | US        |       434 | NS      | $90311.06     | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Textron Inc.                                       | Textron Inc. COM                                             | CUSIP: 883203101<br>LEI: 3PPKBHUG1HD6BO7RNR87 | Long             | EC               | CORP              | US        |      1293 | NS      | $113215.08    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Capital One Financial Corp.                        | Capital One Financial Corp. COM                              | CUSIP: 14040H105<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EC               | CORP              | US        |       349 | NS      | $63668.07     | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Huntington Bancshares Incorporated                 | Huntington Bancshares Incorporated COM                       | CUSIP: 446150104<br>LEI: 549300XTVCVV9I7B5T19 | Long             | EC               | CORP              | US        |      6826 | NS      | $106826.90    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Bunge Global SA                                    | Bunge Global SA COM SHS                                      | CUSIP: 000000000<br>LEI: 254900IVXSV9K0B7PO26 | Long             | EC               | CORP              | CH        |      4577 | NS      | $582194.40    | 2.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Elevance Health Inc.                               | Elevance Health Inc. COM                                     | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |       907 | NS      | $265524.25    | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Dow Inc                                            | Dow Inc COM                                                  | CUSIP: 260557103<br>LEI: 5493003S21INSLK2IP73 | Long             | EC               | CORP              | US        |     14485 | NS      | $603300.25    | 3.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Nucor Corporation                                  | Nucor Corporation COM                                        | CUSIP: 670346105<br>LEI: 549300GGJCRSI2TIEJ46 | Long             | EC               | CORP              | US        |       673 | NS      | $113804.30    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp.                                  | Exxon Mobil Corp. COM                                        | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |       694 | NS      | $117744.04    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Warner Bros. Discovery Inc.                        | Warner Bros. Discovery Inc. COM SER A                        | CUSIP: 934423104<br>LEI: 5493006ZCRFWKF6B1K26 | Long             | EC               | CORP              | US        |      2828 | NS      | $77656.88     | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Aptiv PLC                                          | Aptiv PLC COM SHS                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JE        |      1672 | NS      | $116103.68    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| LyondellBasell Industries NV                       | LyondellBasell Industries NV COM EUR0.04 CLASS 'A'           | CUSIP: 000000000<br>LEI: BN6WCCZ8OVP3ITUUVN49 | Long             | EC               | CORP              | NL        |      5886 | NS      | $474176.16    | 2.42%             |  |  |  | No            |                  1 | On Loan: No      |
| FedEx Corporation                                  | FedEx Corporation COM                                        | CUSIP: 31428X106<br>LEI: 549300E707U7WNPZN687 | Long             | EC               | CORP              | US        |       483 | NS      | $172034.94    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Vici Properties Inc                                | Vici Properties Inc COM                                      | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               | CORP              | US        |      4216 | NS      | $115181.12    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Pinnacle West Capital Corp.                        | Pinnacle West Capital Corp. COM                              | CUSIP: 723484101<br>LEI: TWSEY0NEDUDCKS27AH81 | Long             | EC               | CORP              | US        |      1077 | NS      | $108507.75    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Corp.                                 | State Street Corp. COM                                       | CUSIP: 857477103<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | EC               | CORP              | US        |       800 | NS      | $101248.00    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Ball Corporation                                   | Ball Corporation COM                                         | CUSIP: 058498106<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | EC               | CORP              | US        |      1705 | NS      | $100782.55    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Ford Motor Company                                 | Ford Motor Company COM                                       | CUSIP: 345370860<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | EC               | CORP              | US        |     32018 | NS      | $369487.72    | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Pfizer Inc.                                        | Pfizer Inc. COM                                              | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |      3254 | NS      | $91372.32     | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Chubb Ltd. Switzerland                             | Chubb Ltd. Switzerland ORD CHF24.15                          | CUSIP: 000000000<br>LEI: E0JAN6VLUDI1HITHT809 | Long             | EC               | CORP              | CH        |       308 | NS      | $100386.44    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| CVS Health Corp                                    | CVS Health Corp COM                                          | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |      4604 | NS      | $330659.28    | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Southwest Airlines Co.                             | Southwest Airlines Co. COM                                   | CUSIP: 844741108<br>LEI: UDTZ87G0STFETI6HGH41 | Long             | EC               | CORP              | US        |      3347 | NS      | $125746.79    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Regions Financial Corporation                      | Regions Financial Corporation COM                            | CUSIP: 7591EP100<br>LEI: CW05CS5KW59QTC0DG824 | Long             | EC               | CORP              | US        |      4043 | NS      | $105603.16    | 0.54%             |  |  |  | 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        |     45505 | PA      | $45505.18     | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Sysco Corporation                                  | Sysco Corporation COM                                        | CUSIP: 871829107<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | EC               | CORP              | US        |      1997 | NS      | $142446.01    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| The Kraft Heinz Co.                                | The Kraft Heinz Co. COM                                      | CUSIP: 500754106<br>LEI: 9845007488EC87F5AF14 | Long             | EC               | CORP              | US        |      9574 | NS      | $215319.26    | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| General Motors Company                             | General Motors Company COM                                   | CUSIP: 37045V100<br>LEI: 54930070NSV60J38I987 | Long             | EC               | CORP              | US        |      4929 | NS      | $367210.50    | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Fifth Third Bancorp                                | Fifth Third Bancorp COM                                      | CUSIP: 316773100<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | EC               | CORP              | US        |      1662 | NS      | $77216.52     | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Fiserv Inc.                                        | Fiserv Inc. COM                                              | CUSIP: 337738108<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | EC               | CORP              | US        |      2109 | NS      | $117682.20    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Cencora Inc                                        | Cencora Inc COM                                              | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | EC               | CORP              | US        |       621 | NS      | $195080.94    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Paramount Skydance Corp.                           | Paramount Skydance Corp. COM CL B                            | CUSIP: 69932A204<br>LEI: 529900B6VAJG54Y9QF02 | Long             | EC               | CORP              | US        |     19778 | NS      | $178397.56    | 0.91%             |  |  |  | No            |                  1 | On Loan: —       |
| Principal Financial Group Inc.                     | Principal Financial Group Inc. COM                           | CUSIP: 74251V102<br>LEI: CUMYEZJOAF02RYZ1JJ85 | Long             | EC               | CORP              | US        |      1445 | NS      | $130208.95    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| The Cigna Group                                    | The Cigna Group COM                                          | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |      1343 | NS      | $358245.25    | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Citizens Financial Group Inc                       | Citizens Financial Group Inc COM                             | CUSIP: 174610105<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | EC               | CORP              | US        |      2693 | NS      | $161499.21    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Hormel Foods Corp                                  | Hormel Foods Corp COM                                        | CUSIP: 440452100<br>LEI: MSD54751OJP1FS2ND863 | Long             | EC               | CORP              | US        |      5839 | NS      | $132253.35    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Verizon Communications Inc.                        | Verizon Communications Inc. COM                              | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |      3116 | NS      | $156423.20    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Biogen Inc                                         | Biogen Inc COM                                               | CUSIP: 09062X103<br>LEI: W8J5WZB5IY3K0NDQT671 | Long             | EC               | CORP              | US        |       490 | NS      | $89831.70     | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Stanley Black & Decker, Inc.                       | Stanley Black & Decker, Inc. COM                             | CUSIP: 854502101<br>LEI: 549300DJ09SMTO561131 | Long             | EC               | CORP              | US        |      2956 | NS      | $210053.36    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Edison International                               | Edison International COM                                     | CUSIP: 281020107<br>LEI: 549300I7ROF15MAEVP56 | Long             | EC               | CORP              | US        |      2483 | NS      | $181705.94    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Centene Corp.                                      | Centene Corp. COM                                            | CUSIP: 15135B101<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | EC               | CORP              | US        |      9460 | NS      | $309720.40    | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Payments Inc                                | Global Payments Inc COM                                      | CUSIP: 37940X102<br>LEI: 549300NOMHGVQBX6S778 | Long             | EC               | CORP              | US        |      3052 | NS      | $205399.60    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| United Airlines Holdings Inc                       | United Airlines Holdings Inc COM                             | CUSIP: 910047109<br>LEI: 98450079DA0B78DD6764 | Long             | EC               | CORP              | US        |      1786 | NS      | $164437.02    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Ltd                                        | Invesco Ltd COM STK USD0.20                                  | CUSIP: 000000000<br>LEI: ECPGFXU8A2SHKVVGJI15 | Long             | EC               | CORP              | BM        |      6764 | NS      | $164297.56    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| American International Group Inc.                  | American International Group Inc. COM NEW                    | CUSIP: 026874784<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | EC               | CORP              | US        |      2301 | NS      | $173150.25    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Genuine Parts Co                                   | Genuine Parts Co COM                                         | CUSIP: 372460105<br>LEI: 549300D46DQVEU651W04 | Long             | EC               | CORP              | US        |       711 | NS      | $75188.25     | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Arch Capital Group Ltd.                            | Arch Capital Group Ltd. COM USD0.01                          | CUSIP: 000000000<br>LEI: 549300AYR4P8AFKDCE43 | Long             | EC               | CORP              | BM        |      1223 | NS      | $117395.77    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| D.R. Horton, Inc.                                  | D.R. Horton, Inc. COM                                        | CUSIP: 23331A109<br>LEI: 529900ZIUEYVSB8QDD25 | Long             | EC               | CORP              | US        |       573 | NS      | $78627.06     | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Dupont De Nemours Inc                              | Dupont De Nemours Inc COM                                    | CUSIP: 26614N102<br>LEI: 5493004JF0SDFLM8GD76 | Long             | EC               | CORP              | US        |      6894 | NS      | $315745.20    | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| News Corporation                                   | News Corporation CL A                                        | CUSIP: 65249B109<br>LEI: 549300ITS31QK8VRBQ14 | Long             | EC               | CORP              | US        |      2320 | NS      | $57837.60     | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Eversource Energy                                  | Eversource Energy COM                                        | CUSIP: 30040W108<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | EC               | CORP              | US        |      1358 | NS      | $94082.24     | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Delta Air Lines Inc.                               | Delta Air Lines Inc. COM NEW                                 | CUSIP: 247361702<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | EC               | CORP              | US        |      2435 | NS      | $161878.80    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| ConocoPhillips                                     | ConocoPhillips COM                                           | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |       952 | NS      | $125664.00    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| MGM Resorts International                          | MGM Resorts International COM                                | CUSIP: 552953101<br>LEI: 54930066VBP7DZEGGJ87 | Long             | EC               | CORP              | US        |      3508 | NS      | $129831.08    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Everest Group Ltd                                  | Everest Group Ltd COM USD0.01                                | CUSIP: 000000000<br>LEI: 549300N24XF2VV0B3570 | Long             | EC               | CORP              | BM        |       943 | NS      | $308219.55    | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| HP Inc                                             | HP Inc COM                                                   | CUSIP: 40434L105<br>LEI: WHKXQACZ14C5XRO8LW03 | Long             | EC               | CORP              | US        |      6551 | NS      | $125844.71    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| CHEVRON CORP                                       | Chevron Corp. COM                                            | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       695 | NS      | $143795.50    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Marathon Petroleum Corp.                           | Marathon Petroleum Corp. COM                                 | CUSIP: 56585A102<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | EC               | CORP              | US        |      1048 | NS      | $255900.64    | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Amcor PLC                                          | Amcor PLC COM NEW                                            | CUSIP: 000000000<br>LEI: 549300GSODGFCDQ3DI89 | Long             | EC               | CORP              | JE        |      3528 | NS      | $140238.00    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Health Services, Inc.                    | Universal Health Services, Inc. CL B                         | CUSIP: 913903100<br>LEI: 549300YGMGQDO0NMJD09 | Long             | EC               | CORP              | US        |       563 | NS      | $100760.11    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| PULTEGROUP INC                                     | Pulte Group Inc COM                                          | CUSIP: 745867101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       727 | NS      | $85502.47     | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Occidental Petroleum Corp.                         | Occidental Petroleum Corp. COM                               | CUSIP: 674599105<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | EC               | CORP              | US        |      2625 | NS      | $170625.00    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Baxter International, Inc.                         | Baxter International, Inc. COM                               | CUSIP: 071813109<br>LEI: J5OIVXX3P24RJRW5CK77 | Long             | EC               | CORP              | US        |      8740 | NS      | $146832.00    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Exelon Corp.                                       | Exelon Corp. COM                                             | CUSIP: 30161N101<br>LEI: 3SOUA6IRML7435B56G12 | Long             | EC               | CORP              | US        |      1869 | NS      | $91618.38     | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| U.S. Bancorp.                                      | U.S. Bancorp. COM NEW                                        | CUSIP: 902973304<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EC               | CORP              | US        |      1952 | NS      | $101523.52    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Best Buy Co Inc.                                   | Best Buy Co Inc. COM                                         | CUSIP: 086516101<br>LEI: HL5XPTVRV0O8TUN5LL90 | Long             | EC               | CORP              | US        |      2654 | NS      | $170386.80    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| The Kroger Co.                                     | The Kroger Co. COM                                           | CUSIP: 501044101<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | EC               | CORP              | US        |      4326 | NS      | $313029.36    | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Travelers Companies, Inc.                          | Travelers Companies, Inc. COM                                | CUSIP: 89417E109<br>LEI: 549300Y650407RU8B149 | Long             | EC               | CORP              | US        |       322 | NS      | $93920.96     | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp.                              | Bank of America Corp. COM                                    | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |      1497 | NS      | $72978.75     | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Assurant Inc.                                      | Assurant Inc. COM                                            | CUSIP: 04621X108<br>LEI: H3F39CAXWQRVWURFXL38 | Long             | EC               | CORP              | US        |       572 | NS      | $124587.32    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| The Allstate Corporation                           | The Allstate Corporation COM                                 | CUSIP: 020002101<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | EC               | CORP              | US        |       669 | NS      | $138710.46    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Diamondback Energy Inc                             | Diamondback Energy Inc COM                                   | CUSIP: 25278X109<br>LEI: 549300R22LSX6OHWEN64 | Long             | EC               | CORP              | US        |       861 | NS      | $170297.19    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| MetLife Inc.                                       | MetLife Inc. COM                                             | CUSIP: 59156R108<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | EC               | CORP              | US        |      2218 | NS      | $156856.96    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Henry Schein, Inc.                                 | Henry Schein, Inc. COM                                       | CUSIP: 806407102<br>LEI: VGO3WGL8H45T73F4RR92 | Long             | EC               | CORP              | US        |      1697 | NS      | $125068.90    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| M&T Bank Corporation                               | M&T Bank Corporation COM                                     | CUSIP: 55261F104<br>LEI: 549300WYXDDBYRASEG81 | Long             | EC               | CORP              | US        |       654 | NS      | $135194.88    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Coterra Energy Inc                                 | Coterra Energy Inc COM                                       | CUSIP: 127097103<br>LEI: FCNMH6O7VWU7LHXMK351 | Long             | EC               | CORP              | US        |      3545 | NS      | $124571.30    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Dollar General Corporation                         | Dollar General Corporation COM                               | CUSIP: 256677105<br>LEI: OPX52SQVOZI8IVSWYU66 | Long             | EC               | CORP              | US        |      1230 | NS      | $146037.90    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| KeyCorp                                            | KeyCorp COM                                                  | CUSIP: 493267108<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | EC               | CORP              | US        |      5607 | NS      | $112420.35    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Zimmer Biomet Holdings Inc                         | Zimmer Biomet Holdings Inc COM                               | CUSIP: 98956P102<br>LEI: 2P2YLDVPES3BXQ1FRB91 | Long             | EC               | CORP              | US        |       865 | NS      | $78213.30     | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Humana Inc.                                        | Humana Inc. COM                                              | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Long             | EC               | CORP              | US        |      1384 | NS      | $239971.76    | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Lennar Corp.                                       | Lennar Corp. CL A                                            | CUSIP: 526057104<br>LEI: 529900G61XVRLX5TJX09 | Long             | EC               | CORP              | US        |      1339 | NS      | $116278.76    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Builders Firstsource, Inc.                         | Builders Firstsource, Inc. COM                               | CUSIP: 12008R107<br>LEI: 549300W0SKP6L3H7DP63 | Long             | EC               | CORP              | US        |       943 | NS      | $77637.19     | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Molson Coors Beverage Company                      | Molson Coors Beverage Company CL B                           | CUSIP: 60871R209<br>LEI: 54930073LBBH6ZCBE225 | Long             | EC               | CORP              | US        |      4149 | NS      | $178655.94    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| The Campbells Co.                                  | The Campbells Co. COM                                        | CUSIP: 134429109<br>LEI: 5493007JDSMX8Z5Z1902 | Long             | EC               | CORP              | US        |      4084 | NS      | $90950.68     | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Huntington Ingalls Industries, Inc.                | Huntington Ingalls Industries, Inc. COM                      | CUSIP: 446413106<br>LEI: 5TZLZ6WJTBVJ0QWBG121 | Long             | EC               | CORP              | US        |       268 | NS      | $101813.20    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Smurfit WestRock plc                               | Smurfit WestRock plc COM USD0.001                            | CUSIP: 000000000<br>LEI: 635400EGSEOPDW2EXS14 | Long             | EC               | CORP              | IE        |      7950 | NS      | $316807.50    | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc.                            | UnitedHealth Group Inc. COM                                  | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |       377 | NS      | $102012.43    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Keurig Dr Pepper Inc                               | Keurig Dr Pepper Inc COM                                     | CUSIP: 49271V100<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | EC               | CORP              | US        |      2841 | NS      | $74803.53     | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T Inc                                           | AT&T Inc COM                                                 | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |      4452 | NS      | $129063.48    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| AES Corp.                                          | AES Corp. COM                                                | CUSIP: 00130H105<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | EC               | CORP              | US        |      8759 | NS      | $123414.31    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Truist Financial Corp.                             | Truist Financial Corp. COM                                   | CUSIP: 89832Q109<br>LEI: 549300DRQQI75D2JP341 | Long             | EC               | CORP              | US        |      3182 | NS      | $146276.54    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Target Corp.                                       | Target Corp. COM                                             | CUSIP: 87612E106<br>LEI: 8WDDFXB5T1Z6J0XC1L66 | Long             | EC               | CORP              | US        |      2836 | NS      | $343723.20    | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corporation                                | Comcast Corporation CL A                                     | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |      9481 | NS      | $272199.51    | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| The Mosaic Company                                 | The Mosaic Company COM                                       | CUSIP: 61945C103<br>LEI: 2YD5STGSJNMUB7H76907 | Long             | EC               | CORP              | US        |     16430 | NS      | $418965.00    | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Oneok Inc.                                         | Oneok Inc. COM                                               | CUSIP: 682680103<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | EC               | CORP              | US        |      1117 | NS      | $100965.63    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Valero Energy Corp.                                | Valero Energy Corp. COM                                      | CUSIP: 91913Y100<br>LEI: 549300XTO5VR8SKV1V74 | Long             | EC               | CORP              | US        |      1223 | NS      | $302178.84    | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Cardinal Health, Inc.                              | Cardinal Health, Inc. COM                                    | CUSIP: 14149Y108<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | EC               | CORP              | US        |      1067 | NS      | $225467.77    | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Prudential Financial, Inc.                         | Prudential Financial, Inc. COM                               | CUSIP: 744320102<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | EC               | CORP              | US        |      2194 | NS      | $214331.86    | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Inc.                                     | Citigroup Inc. COM NEW                                       | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |      1563 | NS      | $177259.83    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Archer-Daniels-Midland Co.                         | Archer-Daniels-Midland Co. COM                               | CUSIP: 039483102<br>LEI: 549300LO13MQ9HYSTR83 | Long             | EC               | CORP              | US        |      6433 | NS      | $467614.77    | 2.38%             |  |  |  | No            |                  1 | On Loan: No      |
| APA Corp.                                          | APA Corp. COM                                                | CUSIP: 03743Q108<br>LEI: 549300VCIWLRHYVSHC79 | Long             | EC               | CORP              | US        |      6317 | NS      | $268093.48    | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Block Inc                                          | Block Inc CL A                                               | CUSIP: 852234103<br>LEI: 549300OHIIUWSTIZME52 | Long             | EC               | CORP              | US        |      1349 | NS      | $81182.82     | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Charter Communications, Inc.                       | Charter Communications, Inc. CL A                            | CUSIP: 16119P108<br>LEI: 0J0XRGZE3PBRFEZ7MV65 | Long             | EC               | CORP              | US        |      1189 | NS      | $256681.32    | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Devon Energy Corporation                           | Devon Energy Corporation COM                                 | CUSIP: 25179M103<br>LEI: 54930042348RKR3ZPN35 | Long             | EC               | CORP              | US        |      3278 | NS      | $164948.96    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| News Corporation                                   | News Corporation CL B                                        | CUSIP: 65249B208<br>LEI: 549300ITS31QK8VRBQ14 | Long             | EC               | CORP              | US        |       775 | NS      | $22095.25     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Hewlett Packard Enterprise Co.                     | Hewlett Packard Enterprise Co. COM                           | CUSIP: 42824C109<br>LEI: 549300BX44RGX6ANDV88 | Long             | EC               | CORP              | US        |      8051 | NS      | $191694.31    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Viatris Inc                                        | Viatris Inc COM                                              | CUSIP: 92556V106<br>LEI: 254900ZZTSW7NL773X71 | Long             | EC               | CORP              | US        |     16302 | NS      | $220240.02    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Conagra Brands Inc                                 | Conagra Brands Inc COM                                       | CUSIP: 205887102<br>LEI: 54930035UDEIH090K650 | Long             | EC               | CORP              | US        |     16314 | NS      | $256456.08    | 1.31%             |  |  |  | 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