# EDGAR Filing Document

**Accession Number:** 0001064046
**File Stem:** 0001752724-25-209184
**Filing Date:** 2025-8
**Character Count:** 16489
**Document Hash:** 255b9a0bfcb705f30f5820564d42a1a3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-209184.hdr.sgml**: 20250827

**ACCESSION NUMBER**: 0001752724-25-209184

**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:** 251264149

**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

### Dow 2x Strategy Fund (Series ID: S000003753)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010422 | 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:** Dow 2x Strategy Fund

- **b. EDGAR series identifier (if any):** S000003753

- **c. LEI of Series:** 549300LZ9Q8XW2QTTN63

**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:** $7644065.19

**Total Liabilities:** $1034979.84

**Net Assets:** $6609085.35

**Cash Not Reported:** $40764.25

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000010422 | -7.94%               | 7.61%                | 8.43%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-56630.03               | $-139011.11                                |
| Month 2  | $64357.74                | $136795.24                                 |
| Month 3  | $0.00                    | $189593.49                                 |

**Designated Index Information**

- **Index Name:** Dow Jones Industrial Average

- **Index Identifier:** DJINDAVG

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Amazon.com Inc              | Amazon.com, Inc.                                          | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |       779 | NS      | $170904.81    | 2.59%             |  |  |  | No            |                  1 | On Loan: No      |
| American Express Co         | American Express Co.                                      | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |       779 | NS      | $248485.42    | 3.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Amgen Inc                   | Amgen, Inc.                                               | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |       779 | NS      | $217504.59    | 3.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc                   | Apple, Inc.                                               | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |       779 | NS      | $159827.43    | 2.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Boeing Co/The               | Boeing Co.                                                | CUSIP: 097023105<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | EC               | CORP              | US        |       779 | NS      | $163223.87    | 2.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Caterpillar Inc             | Caterpillar, Inc.                                         | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |       779 | NS      | $302415.59    | 4.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp                | Chevron Corp.                                             | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       779 | NS      | $111545.01    | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems Inc           | Cisco Systems, Inc.                                       | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |       779 | NS      | $54047.02     | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Co/The            | Coca-Cola Co.                                             | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |       779 | NS      | $55114.25     | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Walt Disney Co/The          | Walt Disney Co.                                           | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |       779 | NS      | $96603.79     | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Group Inc/The | Goldman Sachs Group, Inc.                                 | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |       779 | NS      | $551337.25    | 8.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Depot Inc/The          | Home Depot, Inc.                                          | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |       779 | NS      | $285612.56    | 4.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Honeywell International Inc | Honeywell International, Inc.                             | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |       779 | NS      | $181413.52    | 2.74%             |  |  |  | No            |                  1 | On Loan: No      |
| IBM                         | International Business Machines Corp.                     | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |       779 | NS      | $229633.62    | 3.47%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co         | JPMorgan Chase & Co.                                      | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |       779 | NS      | $225839.89    | 3.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson           | Johnson & Johnson                                         | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |       779 | NS      | $118992.25    | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| McDonald's Corp             | McDonald's Corp.                                          | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |       779 | NS      | $227600.43    | 3.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co Inc              | Merck & Company, Inc.                                     | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |       779 | NS      | $61665.64     | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp              | Microsoft Corp.                                           | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |       779 | NS      | $387482.39    | 5.86%             |  |  |  | No            |                  1 | On Loan: No      |
| NIKE Inc                    | NIKE, Inc.                                                | CUSIP: 654106103<br>LEI: 787RXPR0UX0O0XUXPZ81 | Long             | EC               | CORP              | US        |       779 | NS      | $55340.16     | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp                 | NVIDIA Corp.                                              | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |       779 | NS      | $123074.21    | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Procter & Gamble Co/The     | Procter & Gamble Co.                                      | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |       779 | NS      | $124110.28    | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Salesforce Inc              | Salesforce, Inc.                                          | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |       779 | NS      | $212425.51    | 3.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Sherwin-Williams Co/The     | Sherwin-Williams Co.                                      | CUSIP: 824348106<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | EC               | CORP              | US        |       779 | NS      | $267477.44    | 4.05%             |  |  |  | No            |                  1 | On Loan: No      |
| 3M Co                       | 3M Co.                                                    | CUSIP: 88579Y101<br>LEI: LUZQVYP4VS22CLWDAR65 | Long             | EC               | CORP              | US        |       779 | NS      | $118594.96    | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Travelers Cos Inc/The       | Travelers Companies, Inc.                                 | CUSIP: 89417E109<br>LEI: 549300Y650407RU8B149 | Long             | EC               | CORP              | US        |       779 | NS      | $208413.66    | 3.15%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL               | U.S. Treasury Bills                                       | CUSIP: 912797PX9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    350000 | PA      | $346759.96    | 5.25%             | 2025-09-18      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TREASURY BILL               | U.S. Treasury Bills                                       | CUSIP: 912797PZ4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    108000 | PA      | $107912.96    | 1.63%             | 2025-07-08      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group Inc      | UnitedHealth Group, Inc.                                  | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |       779 | NS      | $243024.63    | 3.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Verizon Communications Inc  | Verizon Communications, Inc.                              | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |       779 | NS      | $33707.33     | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                    | Visa, Inc.                                                | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |       779 | NS      | $276583.95    | 4.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Walmart Inc                 | Walmart, Inc.                                             | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |       779 | NS      | $76170.62     | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP Paribas                 | Dow Jones Industrial Average Index                        | CUSIP: N/A<br>LEI: R0MUWSFPU8MPRO8K5P83       | N/A              | DE               |  | US        |        66 | NC      | $70839.43     | 1.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank plc           | Dow Jones Industrial Average Index                        | CUSIP: N/A<br>LEI: G5GSEF7VJP5I7OUK5573       | N/A              | DE               |  | US        |       146 | NC      | $97015.41     | 1.47%             |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Board of Trade      | Dow Jones Industrial Average Index Mini Futures Contracts | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         8 | NC      | $74067.13     | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| BOFA SECURITIES, INC.       | BofA Securities, Inc.                                     | CUSIP: N/A<br>LEI: 549300HN4UKV1E2R3U73       | Long             | RA               | CORP              | US        |    311167 | PA      | $311166.70    | 4.71%             |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC.       | Barclays Capital, Inc.                                    | CUSIP: N/A<br>LEI: AC28XWWI3WIBK2824319       | Long             | RA               | CORP              | US        |    322244 | PA      | $322243.89    | 4.88%             |  |  |  | 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        |    746800 | PA      | $746800.07    | 11.30%            |  |  |  | No            |                  2 | On Loan: No      |

### Signature

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

**Name of Applicant:** Rydex Variable Trust

**Signature:** James Howley

**Name of Signer:** James Howley

**Title:** CFO