# EDGAR Filing Document

**Accession Number:** 0001064046
**File Stem:** 0000913181-26-000302
**Filing Date:** 2026-3
**Character Count:** 26904
**Document Hash:** 7b3dbe4d026ce90c6318e127e6924512
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000913181-26-000302.hdr.sgml**: 20260302

**ACCESSION NUMBER**: 0000913181-26-000302

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260302

**DATE AS OF CHANGE**: 20260302

**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:** 26705286

**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

### Global Managed Futures Strategy Fund (Series ID: S000023531)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000069235 | 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:** Global Managed Futures Strategy Fund

- **b. EDGAR series identifier (if any):** S000023531

- **c. LEI of Series:** 549300CLOWHV203GAV04

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

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-12-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $12380287.02

**Total Liabilities:** $53642.33

**Net Assets:** $12326644.69

**Amount of Assets Invested in Other Investment Companies:** $1912243.21

**Cash Not Reported:** $37088.07

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 0.00000000 | **1-Year:** 436.24562890 | **5-Year:** 91.72414600 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000069235 | 1.28%                | 0.36%                | 1.08%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-3793.29                | $60.41                                     |
| Month 2  | $2141.58                 | $-2904.16                                  |
| Month 3  | $-89.24                  | $-7733.61                                  |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Chicago Board of Trade                        | U.S. Treasury 10 Year Note Futures Contracts               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       -10 | NC      | $922.05       | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | Mexican Peso Futures Contracts                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |        13 | NC      | $3611.09      | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                        | U.S. Treasury 2 Year Note Futures Contracts                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |        38 | NC      | $1030.39      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| New York Mercantile Exchange                  | Gasoline RBOB Futures Contracts                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        -4 | NC      | $-2227.80     | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | Canadian Dollar Futures Contracts                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |        39 | NC      | $-10878.68    | -0.09%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | Lean Hogs Futures Contracts                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |       -17 | NC      | $-22744.77    | -0.18%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | British Pound Futures Contracts                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |        19 | NC      | $-1753.14     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                    | J.P. Morgan Securities LLC                                 | CUSIP: N/A<br>LEI: ZBUT11V806EZRVTWT807       | Long             | RA               | CORP              | US        |   2920561 | PA      | $2920560.93   | 23.69%            |  |  |  | No            |                  2 | On Loan: No      |
| ICE Futures US Softs                          | Sugar #11 Futures Contracts                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        23 | NC      | $-6849.54     | -0.06%            |  |  |  | No            |                  1 | On Loan: No      |
| Guggenheim Partners Investment Management LLC | Guggenheim Strategy Fund II                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | RF                | US        |      4552 | NS      | $112939.71    | 0.92%             |  |  |  | No            |                  1 | 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        |        -2 | NC      | $4206.02      | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | New Zealand Dollar Futures Contracts                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |        -7 | NC      | $2365.00      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures US Softs                          | Coffee 'C' Futures Contracts                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |         5 | NC      | $2837.37      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                        | U.S. Treasury Long Bond Futures Contracts                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |         3 | NC      | $-1756.08     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                        | Soybean Oil Futures Contracts                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        -1 | NC      | $530.82       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| BOFA SECURITIES, INC.                         | BofA Securities, Inc.                                      | CUSIP: N/A<br>LEI: 549300HN4UKV1E2R3U73       | Long             | RA               | CORP              | US        |   2920561 | PA      | $2920560.94   | 23.69%            |  |  |  | No            |                  2 | On Loan: No      |
| ICE Futures Europe Financials                 | Long Gilt Futures Contracts                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |        -1 | NC      | $589.82       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Guggenheim Partners Investment Management LLC | Guggenheim Ultra Short Duration Fund - Institutional Class | CUSIP: 40169J523<br>LEI: N/A                  | Long             | EC               | RF                | US        |      7274 | NS      | $73318.54     | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Eurex                                         | Euro - Schatz Futures Contracts                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | DE        |      -109 | NC      | $12730.56     | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Guggenheim Partners Investment Management LLC | Guggenheim Strategy Fund III                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | RF                | US        |     89107 | NS      | $2219652.98   | 18.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                        | U.S. Treasury Ultra Long Bond Futures Contracts            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       -10 | NC      | $11111.91     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                                 | U.S. Treasury Bills                                        | CUSIP: 912797PD3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1423000 | PA      | $1420190.89   | 11.52%            | 2026-01-22      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Eurex                                         | Euro - Bobl Futures Contracts                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | DE        |       -26 | NC      | $7109.12      | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| London Metal Exchange                         | LME Zinc Futures Contracts                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | GB        |         3 | NC      | $1392.48      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Commodity Exchange, Inc.                      | Gold 100 oz. Futures Contracts                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |         2 | NC      | $11118.80     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures Europe Commodities                | Low Sulphur Gas Oil Futures Contracts                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | GB        |         3 | NC      | $-8030.13     | -0.07%            |  |  |  | No            |                  1 | On Loan: No      |
| Meff Renta Variable (Madrid)                  | IBEX 35 Index Futures Contracts                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | ES        |         4 | NC      | $15023.53     | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Eurex                                         | Euro - Bund Futures Contracts                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | DE        |       -12 | NC      | $4991.45      | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| ICE Futures US Indices                        | MSCI Emerging Markets Index Futures Contracts              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         4 | NC      | $3274.23      | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | Swedish Krona Futures Contracts                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $447.45       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures Europe Commodities                | Brent Crude Futures Contracts                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | GB        |        -2 | NC      | $-2953.42     | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | Norwegian Krone Futures Contracts                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         2 | NC      | $894.80       | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | Australian Dollar Futures Contracts                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         3 | NC      | $-706.50      | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| ASX Trade24                                   | Australian Government 10 Year Bond Futures Contracts       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | AU        |         4 | NC      | $-1584.27     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| New York Mercantile Exchange                  | WTI Crude Futures Contracts                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |         1 | NC      | $-652.55      | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                        | Soybean Futures Contracts                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |         2 | NC      | $-1506.36     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| ASX Trade24                                   | Australian Government 3 Year Bond Futures Contracts        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | AU        |        33 | NC      | $1043.47      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Montreal Exchange                             | S&P/TSX 60 IX Index Futures Contracts                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | CA        |         7 | NC      | $11218.74     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures Europe Financials                 | FTSE 100 Index Futures Contracts                           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | GB        |        10 | NC      | $18651.42     | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| South African Futures Exchange                | FTSE/JSE TOP 40 Index Futures Contracts                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | ZA        |        48 | NC      | $88892.85     | 0.72%             |  |  |  | No            |                  2 | On Loan: No      |
| Euronext Derivatives Paris                    | CAC 40 10 Euro Index Futures Contracts                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | FR        |        -4 | NC      | $949.46       | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Commodity Exchange, Inc.                      | Silver Futures Contracts                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |         2 | NC      | $162983.80    | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                        | U.S. Treasury 5 Year Note Futures Contracts                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |        -5 | NC      | $1415.25      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| London Metal Exchange                         | LME Lead Futures Contracts                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | GB        |        -2 | NC      | $-192.18      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | Euro FX Futures Contracts                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |        -1 | NC      | $-252.55      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Singapore Exchange (was SIMEX)                | FTSE Taiwan Index Futures Contracts                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | SG        |         6 | NC      | $8986.85      | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | Nikkei 225 (CME) Index Futures Contracts                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         1 | NC      | $-2503.55     | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                        | Corn Futures Contracts                                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |       -10 | NC      | $2138.92      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                        | Soybean Meal Futures Contracts                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |         5 | NC      | $-1252.57     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Montreal Exchange                             | Canadian Government 10 Year Bond Futures Contracts         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | CA        |        12 | NC      | $2457.18      | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| New York Mercantile Exchange                  | Natural Gas Futures Contracts                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |         4 | NC      | $-17270.60    | -0.14%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | S&P 500 Index Mini Futures Contracts                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         1 | NC      | $-3101.99     | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | Japanese Yen Futures Contracts                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         8 | NC      | $-1059.60     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | Live Cattle Futures Contracts                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |         7 | NC      | $37104.62     | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | Cattle Feeder Futures Contracts                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        -1 | NC      | $-6240.65     | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures US Softs                          | Cotton #2 Futures Contracts                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        35 | NC      | $9427.86      | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | NASDAQ-100 Index Mini Futures Contracts                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         2 | NC      | $-16000.90    | -0.13%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | Swiss Franc Futures Contracts                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |        -5 | NC      | $4373.41      | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Osaka Exchange                                | Tokyo Stock Price Index Futures Contracts                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | JP        |        -3 | NC      | $-5663.51     | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| New York Mercantile Exchange                  | Platinum Futures Contracts                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        -5 | NC      | $-38032.42    | -0.31%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                        | Wheat Futures Contracts                                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        -9 | NC      | $14875.06     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                        | Hard Red Winter Wheat Futures Contracts                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        -3 | NC      | $2752.06      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| London Metal Exchange                         | LME Primary Aluminum Futures Contracts                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | GB        |         2 | NC      | $2157.07      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Guggenheim Partners Investment Management LLC | Guggenheim Variable Insurance Strategy Fund III            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | RF                | US        |    100294 | NS      | $2489300.31   | 20.19%            |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures US Softs                          | Cocoa Futures Contracts                                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        -3 | NC      | $305.55       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Eurex                                         | Euro STOXX 50 Index Futures Contracts                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | DE        |         5 | NC      | $739.77       | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| London Metal Exchange                         | LME Nickel Futures Contracts                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | GB        |         2 | NC      | $3889.16      | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-30

**Name of Applicant:** Rydex Variable Trust

**Signature:** James Howley

**Name of Signer:** James Howley

**Title:** CFO