# EDGAR Filing Document

**Accession Number:** 0001064046
**File Stem:** 0000940400-26-022846
**Filing Date:** 2026-6
**Character Count:** 17712
**Document Hash:** 832e9e5fcd3b610c5a71c3bb60c7280d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-022846.hdr.sgml**: 20260601

**ACCESSION NUMBER**: 0000940400-26-022846

**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:** 261048523

**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

### Precious Metals Fund (Series ID: S000003743)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010412 | 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:** Precious Metals Fund

- **b. EDGAR series identifier (if any):** S000003743

- **c. LEI of Series:** 5493001NS6LUPX0G6S09

**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:** $44734920.24

**Total Liabilities:** $141063.37

**Net Assets:** $44593856.87

**Cash Not Reported:** $38023.04

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000010412 | 11.32%               | 23.83%               | -21.15%              |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $120457.29               | $4671567.83                                |
| Month 2  | $322517.74               | $10556713.24                               |
| Month 3  | $3463345.49              | $-14678078.19                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Barrick Mining Corp.                               | Barrick Mining Corp. COM SHS                                 | CUSIP: 06849F108<br>LEI: 0O4KBQCJZX82UKGCBV73 | Long             | EC               | CORP              | CA        |     59752 | NS      | $2437284.08   | 5.47%             |  |  |  | No            |                  1 | On Loan: No      |
| SSR Mining Inc                                     | SSR Mining Inc COM                                           | CUSIP: 784730103<br>LEI: 549300JD2KR7AB9DYJ38 | Long             | EC               | CORP              | CA        |     25446 | NS      | $748112.40    | 1.68%             |  |  |  | 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        |    141321 | PA      | $141320.52    | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| Orla Mining Ltd New                                | Orla Mining Ltd New COM                                      | CUSIP: 68634K106<br>LEI: 529900DU63EUQ1UZKL30 | Long             | EC               | CORP              | CA        |     41639 | NS      | $671637.07    | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| MCEWEN INC                                         | McEwen Inc. COM NEW                                          | CUSIP: 58039P305<br>LEI: 5493000FX50GEWAF3U70 | Long             | EC               | CORP              | US        |     12058 | NS      | $246224.36    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Perpetua Resources Corp                            | Perpetua Resources Corp COM                                  | CUSIP: 714266103<br>LEI: 529900BQBMS383SEPY05 | Long             | EC               | CORP              | CA        |     12217 | NS      | $343542.04    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| OR Royalties Inc.                                  | OR Royalties Inc. COM SHS                                    | CUSIP: 68390D106<br>LEI: 549300TJZTXZMPQ6K004 | Long             | EC               | CORP              | CA        |     20601 | NS      | $783250.02    | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Gold Fields Ltd                                    | Gold Fields Ltd SPONSORED ADR                                | CUSIP: 38059T106<br>LEI: 5299003KXIBJQYCBBD72 | Long             | EC               | CORP              | ZA        |     36003 | NS      | $1634536.20   | 3.67%             |  |  |  | No            |                  1 | On Loan: No      |
| IAMGOLD Corp                                       | IAMGOLD Corp COM                                             | CUSIP: 450913108<br>LEI: 254900E7II30XAB9LA72 | Long             | EC               | CORP              | CA        |     50305 | NS      | $946740.10    | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Hecla Mining Company                               | Hecla Mining Company COM                                     | CUSIP: 422704106<br>LEI: 5493009Y6HOBZD1QD537 | Long             | EC               | CORP              | US        |     54373 | NS      | $1012968.99   | 2.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Seabridge Gold Inc                                 | Seabridge Gold Inc COM                                       | CUSIP: 811916105<br>LEI: 9845003FEO1A66376A92 | Long             | EC               | CORP              | CA        |     10640 | NS      | $301537.60    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| AVINO SILVER & GOLD MINES LTD                      | Avino Silver & Gol COM                                       | CUSIP: 053906103<br>LEI: 549300DZZNDMPML1VJ37 | Long             | EC               | CORP              | CA        |     44320 | NS      | $280102.40    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| B2Gold Corp.                                       | B2Gold Corp. COM                                             | CUSIP: 11777Q209<br>LEI: 549300F7OK456M5NLM05 | Long             | EC               | CORP              | CA        |    158342 | NS      | $717289.26    | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| AURA MINERALS INC                                  | Aura Minerals Inc (Vg) COM NPV (POST REV SPLIT)              | CUSIP: 000000000<br>LEI: 549300YIRI8PSDM2FV20 | Long             | EC               | CORP              | VG        |      2911 | NS      | $237537.60    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinox Gold Corp                                  | Equinox Gold Corp COM                                        | CUSIP: 29446Y502<br>LEI: 5493005IN4V1SNP9PN75 | Long             | EC               | CORP              | CA        |     66793 | NS      | $965826.78    | 2.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Triple Flag Precious Metals Corp.                  | Triple Flag Precious Metals Corp. COM                        | CUSIP: 89679M104<br>LEI: 254900R7NJ1TEYIM4E61 | Long             | EC               | CORP              | CA        |     11272 | NS      | $391251.12    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Centerra Gold Inc                                  | Centerra Gold Inc COM                                        | CUSIP: 152006102<br>LEI: 549300K0HXTMP5JJ0E62 | Long             | EC               | CORP              | CA        |     31970 | NS      | $568746.30    | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Hycroft Mining Holding Corporation                 | Hycroft Mining Holding Corporation CL A NEW                  | CUSIP: 44862P208<br>LEI: 254900T7FYMGS29WIF55 | Long             | EC               | CORP              | US        |      8238 | NS      | $289977.60    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinross Gold Corp.                                 | Kinross Gold Corp. COM                                       | CUSIP: 496902404<br>LEI: 254900O9KHF2A1ZXPT47 | Long             | EC               | CORP              | CA        |     55768 | NS      | $1702039.36   | 3.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Coeur Mining Inc                                   | Coeur Mining Inc COM NEW                                     | CUSIP: 192108504<br>LEI: 5493003AVK173D48DR70 | Long             | EC               | CORP              | US        |     81934 | NS      | $1537901.18   | 3.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Pan American Silver Corp.                          | Pan American Silver Corp. COM                                | CUSIP: 697900108<br>LEI: 549300MKTF5851TYIB83 | Long             | EC               | CORP              | CA        |     25777 | NS      | $1408197.51   | 3.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Harmony Gold Mining Co Ltd                         | Harmony Gold Mining Co Ltd SPONSORED ADR                     | CUSIP: 413216300<br>LEI: 378900986D05F0C29811 | Long             | EC               | CORP              | ZA        |     58498 | NS      | $899114.26    | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| First Majestic Silver Corp.                        | First Majestic Silver Corp. COM                              | CUSIP: 32076V103<br>LEI: 529900PWCU5DUH1DYR51 | Long             | EC               | CORP              | CA        |     43949 | NS      | $944024.52    | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Eldorado Gold Corp                                 | Eldorado Gold Corp COM                                       | CUSIP: 284902509<br>LEI: 5493004PWQ01YDD1IH62 | Long             | EC               | CORP              | CA        |     22372 | NS      | $768030.76    | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Freeport-McMoRan Inc.                              | Freeport-McMoRan Inc. CL B                                   | CUSIP: 35671D857<br>LEI: 549300IRDTHJQ1PVET45 | Long             | EC               | CORP              | US        |     48450 | NS      | $2847891.00   | 6.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Franco Nevada Corp                                 | Franco Nevada Corp COM                                       | CUSIP: 351858105<br>LEI: 98450064C1B5D3E94864 | Long             | EC               | CORP              | CA        |      6692 | NS      | $1653258.60   | 3.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Wheaton Precious Metals Corporation                | Wheaton Precious Metals Corporation COM                      | CUSIP: 962879102<br>LEI: 549300XSFG5ZCGVYD886 | Long             | EC               | CORP              | CA        |     17231 | NS      | $2257433.31   | 5.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Anglogold Ashanti PLC                              | Anglogold Ashanti PLC COM SHS                                | CUSIP: 000000000<br>LEI: 2138005YDSA7A82RNU96 | Long             | EC               | CORP              | GB        |     18905 | NS      | $1840590.80   | 4.13%             |  |  |  | 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        |    155506 | PA      | $155506.14    | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Newmont Corporation                                | Newmont Corporation COM                                      | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |     29912 | NS      | $3237974.00   | 7.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Endeavour Silver Corp.                             | Endeavour Silver Corp. COM                                   | CUSIP: 29258Y103<br>LEI: 549300IF2E29780PPV02 | Long             | EC               | CORP              | CA        |     51493 | NS      | $479399.83    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Sibanye-Stillwater Limited                         | Sibanye-Stillwater Limited SPONSORED ADR                     | CUSIP: 82575P107<br>LEI: 378900F238434B74D281 | Long             | EC               | CORP              | ZA        |     58012 | NS      | $714707.84    | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Royal Gold, Inc.                                   | Royal Gold, Inc. COM                                         | CUSIP: 780287108<br>LEI: 5493001NGRU6SFL04184 | Long             | EC               | CORP              | US        |      4240 | NS      | $1079037.60   | 2.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortuna Mining Corp.                               | Fortuna Mining Corp. COM NEW                                 | CUSIP: 349942102<br>LEI: 5493003Q88RVK7CW4735 | Long             | EC               | CORP              | CA        |     51307 | NS      | $509478.51    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Novagold Resources, Inc.                           | Novagold Resources, Inc. COM NEW                             | CUSIP: 66987E206<br>LEI: 529900587LVZTJ2BHS60 | Long             | EC               | CORP              | CA        |     53957 | NS      | $484533.86    | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Agnico Eagle Mines Ltd                             | Agnico Eagle Mines Ltd COM                                   | CUSIP: 008474108<br>LEI: 254900BFJ2DOHPMEXN45 | Long             | EC               | CORP              | CA        |     14801 | NS      | $3004306.98   | 6.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Alamos Gold Inc.                                   | Alamos Gold Inc. COM CL A                                    | CUSIP: 011532108<br>LEI: 894500GIHFJZW7YS9660 | Long             | EC               | CORP              | CA        |     28670 | NS      | $1273808.10   | 2.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Aris Mining Corp.                                  | Aris Mining Corp. COM                                        | CUSIP: 04040Y109<br>LEI: 5493001GJ5TILX6L1F82 | Long             | EC               | CORP              | CA        |     31471 | NS      | $584416.47    | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Silvercorp Metals Inc.                             | Silvercorp Metals Inc. COM                                   | CUSIP: 82835P103<br>LEI: 52990092RT3UCQ7G3177 | Long             | EC               | CORP              | CA        |     42032 | NS      | $451423.68    | 1.01%             |  |  |  | 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