# EDGAR Filing Document

**Accession Number:** 0001064046
**File Stem:** 0001752724-25-209191
**Filing Date:** 2025-8
**Character Count:** 35794
**Document Hash:** 8f8c1ab01b599d21181e3127c984c74d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-209191.hdr.sgml**: 20250827

**ACCESSION NUMBER**: 0001752724-25-209191

**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:** 251264154

**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 MidCap 400 Pure Growth Fund (Series ID: S000003744)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010413 | 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:** S&P MidCap 400 Pure Growth Fund

- **b. EDGAR series identifier (if any):** S000003744

- **c. LEI of Series:** 549300SL2Z7RY94P1E48

**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:** $9405781.68

**Total Liabilities:** $34307.27

**Net Assets:** $9371474.41

**Cash Not Reported:** $283.57

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000010413 | 0.81%                | 7.50%                | 2.35%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-64699.05               | $89950.86                                  |
| Month 2  | $-43415.53               | $677812.72                                 |
| Month 3  | $-186853.33              | $369420.27                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AAON Inc                       | AAON, Inc.                                           | CUSIP: 000360206<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1480 | NS      | $109150.00    | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Abercrombie & Fitch Co         | Abercrombie & Fitch Co.                              | CUSIP: 002896207<br>LEI: 5493000J7LL72TOGT983 | Long             | EC               | CORP              | US        |      1051 | NS      | $87075.35     | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Acuity Inc                     | Acuity, Inc.                                         | CUSIP: 00508Y102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       255 | NS      | $76076.70     | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Alaska Air Group Inc           | Alaska Air Group, Inc.                               | CUSIP: 011659109<br>LEI: 529900G48RT4KWLC6C27 | Long             | EC               | CORP              | US        |      2116 | NS      | $104699.68    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| ATI Inc                        | ATI, Inc.                                            | CUSIP: 01741R102<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | EC               | CORP              | US        |      1867 | NS      | $161196.78    | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| American Airlines Group Inc    | American Airlines Group, Inc.                        | CUSIP: 02376R102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8978 | NS      | $100733.16    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Appfolio Inc                   | Appfolio, Inc.                                       | CUSIP: 03783C100<br>LEI: 529900OOUUGT6JFC0S15 | Long             | EC               | CORP              | US        |       446 | NS      | $102704.88    | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Industrial Technologie | Applied Industrial Technologies, Inc.                | CUSIP: 03820C105<br>LEI: 549300NU173IJRC6PO38 | Long             | EC               | CORP              | US        |       298 | NS      | $69270.10     | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| BWX Technologies Inc           | BWX Technologies, Inc.                               | CUSIP: 05605H100<br>LEI: 549300NP85N265KWMS58 | Long             | EC               | CORP              | US        |       577 | NS      | $83122.62     | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Belden Inc                     | Belden, Inc.                                         | CUSIP: 077454106<br>LEI: 68BKYO1JC791TTJHUE82 | Long             | EC               | CORP              | US        |       550 | NS      | $63690.00     | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| H&R Block Inc                  | H&R Block, Inc.                                      | CUSIP: 093671105<br>LEI: 549300CE3KUCWLZBG404 | Long             | EC               | CORP              | US        |      1528 | NS      | $83871.92     | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| CNX Resources Corp             | CNX Resources Corp.                                  | CUSIP: 12653C108<br>LEI: 549300JK3KH8PWM3B226 | Long             | EC               | CORP              | US        |      2601 | NS      | $87601.68     | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Carlisle Cos Inc               | Carlisle Companies, Inc.                             | CUSIP: 142339100<br>LEI: XR64VGX1ZPX6G7ZN7Z11 | Long             | EC               | CORP              | US        |       138 | NS      | $51529.20     | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Carpenter Technology Corp      | Carpenter Technology Corp.                           | CUSIP: 144285103<br>LEI: DX6I6ZD3X5WNNCDJKP85 | Long             | EC               | CORP              | US        |       985 | NS      | $272234.30    | 2.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Chart Industries Inc           | Chart Industries, Inc.                               | CUSIP: 16115Q308<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | EC               | CORP              | US        |       705 | NS      | $116078.25    | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Chewy Inc                      | Chewy, Inc.                                          | CUSIP: 16679L109<br>LEI: 254900NPQSTG9I422879 | Long             | EC               | CORP              | US        |      2766 | NS      | $117886.92    | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Choice Hotels International In | Choice Hotels International, Inc.                    | CUSIP: 169905106<br>LEI: 5493003CYRY5RFGTIR97 | Long             | EC               | CORP              | US        |       352 | NS      | $44661.76     | 0.48%             |  |  |  | No            |                  1 | On Loan: —       |
| Churchill Downs Inc            | Churchill Downs, Inc.                                | CUSIP: 171484108<br>LEI: 529900FODTBQC8MIS994 | Long             | EC               | CORP              | US        |       611 | NS      | $61711.00     | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Clean Harbors Inc              | Clean Harbors, Inc.                                  | CUSIP: 184496107<br>LEI: 5493000SJVZVZJKHJF48 | Long             | EC               | CORP              | US        |       447 | NS      | $103337.46    | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Consolidated Inc     | Coca-Cola Consolidated, Inc.                         | CUSIP: 191098102<br>LEI: 57VG5X0E00X0QJU7CQ58 | Long             | EC               | CORP              | US        |       612 | NS      | $68329.80     | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Coherent Corp                  | Coherent Corp.                                       | CUSIP: 19247G107<br>LEI: 549300O5C25A0MMHHU33 | Long             | EC               | CORP              | US        |       583 | NS      | $52009.43     | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Comfort Systems USA Inc        | Comfort Systems USA, Inc.                            | CUSIP: 199908104<br>LEI: 5299009DT1ZA5HTU6R38 | Long             | EC               | CORP              | US        |       417 | NS      | $223599.57    | 2.39%             |  |  |  | No            |                  1 | On Loan: No      |
| CommVault Systems Inc          | CommVault Systems, Inc.                              | CUSIP: 204166102<br>LEI: 65T5VRP62VXG39YFML83 | Long             | EC               | CORP              | US        |       575 | NS      | $100239.75    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Crocs Inc                      | Crocs, Inc.                                          | CUSIP: 227046109<br>LEI: 549300B0J6YCXD63OG72 | Long             | EC               | CORP              | US        |       652 | NS      | $66034.56     | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Curtiss-Wright Corp            | Curtiss-Wright Corp.                                 | CUSIP: 231561101<br>LEI: TEL51ETZWP7D0ZM4X325 | Long             | EC               | CORP              | US        |       213 | NS      | $104061.15    | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| DT Midstream Inc               | DT Midstream, Inc.                                   | CUSIP: 23345M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       693 | NS      | $76167.63     | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| DocuSign Inc                   | DocuSign, Inc.                                       | CUSIP: 256163106<br>LEI: 549300Q7PVDWRZ39JG09 | Long             | EC               | CORP              | US        |      1108 | NS      | $86302.12     | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Doximity Inc                   | Doximity, Inc.                                       | CUSIP: 26622P107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1288 | NS      | $79005.92     | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Dynatrace Inc                  | Dynatrace, Inc.                                      | CUSIP: 268150109<br>LEI: 6488T0Z33CE9L61EX904 | Long             | EC               | CORP              | US        |       961 | NS      | $53056.81     | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| elf Beauty Inc                 | elf Beauty, Inc.                                     | CUSIP: 26856L103<br>LEI: 549300U2K9TCON25C029 | Long             | EC               | CORP              | US        |       592 | NS      | $73668.48     | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Eagle Materials Inc            | Eagle Materials, Inc.                                | CUSIP: 26969P108<br>LEI: 529900KRXRGXL61SG039 | Long             | EC               | CORP              | US        |       407 | NS      | $82258.77     | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| East West Bancorp Inc          | East West Bancorp, Inc.                              | CUSIP: 27579R104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       971 | NS      | $98051.58     | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| EMCOR Group Inc                | EMCOR Group, Inc.                                    | CUSIP: 29084Q100<br>LEI: 529900X0SQJB2J7YDU43 | Long             | EC               | CORP              | US        |       340 | NS      | $181862.60    | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Ensign Group Inc/The           | Ensign Group, Inc.                                   | CUSIP: 29358P101<br>LEI: 5493003K4HEEA8Q0BC72 | Long             | EC               | CORP              | US        |       391 | NS      | $60315.66     | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Equitable Holdings Inc         | Equitable Holdings, Inc.                             | CUSIP: 29452E101<br>LEI: 549300FIBAKMNHPZ4009 | Long             | EC               | CORP              | US        |      1203 | NS      | $67488.30     | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Esab Corp                      | Esab Corp.                                           | CUSIP: 29605J106<br>LEI: 549300ZNV0SWBXEIWT04 | Long             | EC               | CORP              | US        |       626 | NS      | $75464.30     | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Exelixis Inc                   | Exelixis, Inc.                                       | CUSIP: 30161Q104<br>LEI: 254900PJQB59O2O95R37 | Long             | EC               | CORP              | US        |      3860 | NS      | $170129.50    | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| ExlService Holdings Inc        | ExlService Holdings, Inc.                            | CUSIP: 302081104<br>LEI: 81E3DTNF6OSH489ZOV15 | Long             | EC               | CORP              | US        |      2507 | NS      | $109781.53    | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Funds           | First American Government Obligations Fund - Class X | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | RF                | US        |    358741 | NS      | $358741.25    | 3.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Globus Medical Inc             | Globus Medical, Inc.                                 | CUSIP: 379577208<br>LEI: 5299003M2P4CIK0RF205 | Long             | EC               | CORP              | US        |      2186 | NS      | $129017.72    | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Grand Canyon Education Inc     | Grand Canyon Education, Inc.                         | CUSIP: 38526M106<br>LEI: 529900XFER799IYOSW74 | Long             | EC               | CORP              | US        |       421 | NS      | $79569.00     | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Guidewire Software Inc         | Guidewire Software, Inc.                             | CUSIP: 40171V100<br>LEI: 549300WXSG0J8IXZCK32 | Long             | EC               | CORP              | US        |       634 | NS      | $149275.30    | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Halozyme Therapeutics Inc      | Halozyme Therapeutics, Inc.                          | CUSIP: 40637H109<br>LEI: 529900242I3SV9AGM753 | Long             | EC               | CORP              | US        |      2154 | NS      | $112051.08    | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Hamilton Lane Inc              | Hamilton Lane, Inc.                                  | CUSIP: 407497106<br>LEI: 5493006OKN3V1NORM833 | Long             | EC               | CORP              | US        |       834 | NS      | $118528.08    | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| HealthEquity Inc               | HealthEquity, Inc.                                   | CUSIP: 42226A107<br>LEI: 529900LRJU1RAFQHM467 | Long             | EC               | CORP              | US        |       613 | NS      | $64217.88     | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Hilton Grand Vacations Inc     | Hilton Grand Vacations, Inc.                         | CUSIP: 43283X105<br>LEI: 549300O9K6MFD8D07574 | Long             | EC               | CORP              | US        |      2525 | NS      | $104863.25    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Hims & Hers Health Inc         | Hims & Hers Health, Inc.                             | CUSIP: 433000106<br>LEI: 254900V041EIVTSB6D58 | Long             | EC               | CORP              | US        |      5278 | NS      | $263108.30    | 2.81%             |  |  |  | No            |                  1 | On Loan: —       |
| Houlihan Lokey Inc             | Houlihan Lokey, Inc.                                 | CUSIP: 441593100<br>LEI: 549300S3CNGTQ1QZVY46 | Long             | EC               | CORP              | US        |       263 | NS      | $47326.85     | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Hyatt Hotels Corp              | Hyatt Hotels Corp.                                   | CUSIP: 448579102<br>LEI: T27JQIMTYSH41TCD5186 | Long             | EC               | CORP              | US        |       857 | NS      | $119680.05    | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Interactive Brokers Group Inc  | Interactive Brokers Group, Inc.                      | CUSIP: 45841N107<br>LEI: 5493004DT6DCDUZNDM53 | Long             | EC               | CORP              | US        |      2958 | NS      | $163902.78    | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinsale Capital Group Inc      | Kinsale Capital Group, Inc.                          | CUSIP: 49714P108<br>LEI: 529900QTUQHNZ6HOA508 | Long             | EC               | CORP              | US        |       262 | NS      | $126781.80    | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Kirby Corp                     | Kirby Corp.                                          | CUSIP: 497266106<br>LEI: I7NO6FZO5GUCG585T325 | Long             | EC               | CORP              | US        |       946 | NS      | $107285.86    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Knife River Corp               | Knife River Corp.                                    | CUSIP: 498894104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       718 | NS      | $58617.52     | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Lantheus Holdings Inc          | Lantheus Holdings, Inc.                              | CUSIP: 516544103<br>LEI: 5299005HUB5IOJGO7S39 | Long             | EC               | CORP              | US        |      1283 | NS      | $105026.38    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Louisiana-Pacific Corp         | Louisiana-Pacific Corp.                              | CUSIP: 546347105<br>LEI: 549300C7E2UAO5BVRR75 | Long             | EC               | CORP              | US        |       422 | NS      | $36287.78     | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Manhattan Associates Inc       | Manhattan Associates, Inc.                           | CUSIP: 562750109<br>LEI: 529900Q1GJP7KD52SW51 | Long             | EC               | CORP              | US        |       201 | NS      | $39691.47     | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Masimo Corp                    | Masimo Corp.                                         | CUSIP: 574795100<br>LEI: 549300Q4A8JK0PIYCU29 | Long             | EC               | CORP              | US        |       839 | NS      | $141136.58    | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| MasTec Inc                     | MasTec, Inc.                                         | CUSIP: 576323109<br>LEI: 549300TMDIT8WREDOF45 | Long             | EC               | CORP              | US        |       836 | NS      | $142479.48    | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Medpace Holdings Inc           | Medpace Holdings, Inc.                               | CUSIP: 58506Q109<br>LEI: 549300H8TYEUVTW14A54 | Long             | EC               | CORP              | US        |       307 | NS      | $96355.02     | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Mueller Industries Inc         | Mueller Industries, Inc.                             | CUSIP: 624756102<br>LEI: 5493005IZFE4VJLLYG84 | Long             | EC               | CORP              | US        |       751 | NS      | $59681.97     | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Murphy USA Inc                 | Murphy USA, Inc.                                     | CUSIP: 626755102<br>LEI: 549300Y081F8XIKQIO72 | Long             | EC               | CORP              | US        |       197 | NS      | $80139.60     | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Neurocrine Biosciences Inc     | Neurocrine Biosciences, Inc.                         | CUSIP: 64125C109<br>LEI: 549300FECER0XBN49756 | Long             | EC               | CORP              | US        |       643 | NS      | $80818.67     | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Okta Inc                       | Okta, Inc.                                           | CUSIP: 679295105<br>LEI: 549300N8J06I8MRHU620 | Long             | EC               | CORP              | US        |       621 | NS      | $62081.37     | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Owens Corning                  | Owens Corning                                        | CUSIP: 690742101<br>LEI: JO5M6676RDJIZ2U8X907 | Long             | EC               | CORP              | US        |       379 | NS      | $52120.08     | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Parsons Corp                   | Parsons Corp.                                        | CUSIP: 70202L102<br>LEI: 549300ZXH0VRBSEPX752 | Long             | EC               | CORP              | US        |      1076 | NS      | $77224.52     | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Paylocity Holding Corp         | Paylocity Holding Corp.                              | CUSIP: 70438V106<br>LEI: 549300VH75FTB4DIEE07 | Long             | EC               | CORP              | US        |       567 | NS      | $102734.73    | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Pegasystems Inc                | Pegasystems, Inc.                                    | CUSIP: 705573103<br>LEI: 549300FMCOKPL06FYN26 | Long             | EC               | CORP              | US        |      1476 | NS      | $79895.88     | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Permian Resources Corp         | Permian Resources Corp.                              | CUSIP: 71424F105<br>LEI: 529900NXUJPOKU7OJ511 | Long             | EC               | CORP              | US        |      7906 | NS      | $107679.72    | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Pilgrim's Pride Corp           | Pilgrim's Pride Corp.                                | CUSIP: 72147K108<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | EC               | CORP              | US        |      2337 | NS      | $105118.26    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Planet Fitness Inc             | Planet Fitness, Inc.                                 | CUSIP: 72703H101<br>LEI: 549300LLE5HUPF6H8G33 | Long             | EC               | CORP              | US        |      1318 | NS      | $143727.90    | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| RB Global Inc                  | RB Global, Inc.                                      | CUSIP: 74935Q107<br>LEI: 5493002H8U24DJXQ4886 | Long             | EC               | CORP              | US        |      1126 | NS      | $119569.94    | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| RBC Bearings Inc               | RBC Bearings, Inc.                                   | CUSIP: 75524B104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       335 | NS      | $128908.00    | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryan Specialty Holdings Inc    | Ryan Specialty Holdings, Inc.                        | CUSIP: 78351F107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1442 | NS      | $98041.58     | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| SLM Corp                       | SLM Corp.                                            | CUSIP: 78442P106<br>LEI: 4K8SLPBF5DXXGPW03H93 | Long             | EC               | CORP              | US        |      2184 | NS      | $71613.36     | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Saia Inc                       | Saia, Inc.                                           | CUSIP: 78709Y105<br>LEI: 549300WNPG4N9GBOYB29 | Long             | EC               | CORP              | US        |       114 | NS      | $31234.86     | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Sarepta Therapeutics Inc       | Sarepta Therapeutics, Inc.                           | CUSIP: 803607100<br>LEI: 549300IKDPIED8J8IG21 | Long             | EC               | CORP              | US        |      1316 | NS      | $22503.60     | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Shift4 Payments Inc            | Shift4 Payments, Inc.                                | CUSIP: 82452J109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1655 | NS      | $164027.05    | 1.75%             |  |  |  | No            |                  1 | On Loan: —       |
| Sprouts Farmers Market Inc     | Sprouts Farmers Market, Inc.                         | CUSIP: 85208M102<br>LEI: 529900P8F4G77Q52XE24 | Long             | EC               | CORP              | US        |       747 | NS      | $122986.08    | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Tetra Tech Inc                 | Tetra Tech, Inc.                                     | CUSIP: 88162G103<br>LEI: 549300UJ1LP7JGJC5P32 | Long             | EC               | CORP              | US        |      1741 | NS      | $62606.36     | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Roadhouse Inc            | Texas Roadhouse, Inc.                                | CUSIP: 882681109<br>LEI: 5299002Y1CNRPDGXTQ75 | Long             | EC               | CORP              | US        |       711 | NS      | $133248.51    | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Toll Brothers Inc              | Toll Brothers, Inc.                                  | CUSIP: 889478103<br>LEI: 529900JB6IS9MSZGVR44 | Long             | EC               | CORP              | US        |       832 | NS      | $94956.16     | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| TopBuild Corp                  | TopBuild Corp.                                       | CUSIP: 89055F103<br>LEI: 5493007YSKHOL4RWII46 | Long             | EC               | CORP              | US        |       240 | NS      | $77697.60     | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Travel + Leisure Co            | Travel + Leisure Co.                                 | CUSIP: 894164102<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | EC               | CORP              | US        |      1792 | NS      | $92485.12     | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| United Therapeutics Corp       | United Therapeutics Corp.                            | CUSIP: 91307C102<br>LEI: 5299005C4HZL4UWROC14 | Long             | EC               | CORP              | US        |       288 | NS      | $82756.80     | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Valvoline Inc                  | Valvoline, Inc.                                      | CUSIP: 92047W101<br>LEI: 549300CMHPBEY6VPOT75 | Long             | EC               | CORP              | US        |      2294 | NS      | $86873.78     | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Viper Energy Inc               | Viper Energy, Inc.                                   | CUSIP: 927959106<br>LEI: 5299009LINL232255G03 | Long             | EC               | CORP              | US        |      2146 | NS      | $81826.98     | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Western Alliance Bancorp       | Western Alliance Bancorporation                      | CUSIP: 957638109<br>LEI: 5493003VJXZ5JXT9S762 | Long             | EC               | CORP              | US        |      1187 | NS      | $92562.26     | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Wingstop Inc                   | Wingstop, Inc.                                       | CUSIP: 974155103<br>LEI: 549300SSH3F8HPIM3Q47 | Long             | EC               | CORP              | US        |       362 | NS      | $121899.88    | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Woodward Inc                   | Woodward, Inc.                                       | CUSIP: 980745103<br>LEI: YPYKXXTR8TFDH54ZMB45 | Long             | EC               | CORP              | US        |       354 | NS      | $86761.86     | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Roivant Sciences Ltd.          | Roivant Sciences Ltd.                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     17812 | NS      | $200741.24    | 2.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Fabrinet                       | Fabrinet                                             | CUSIP: N/A<br>LEI: 5493004TETZ6IYF7CV44       | Long             | EC               | CORP              | US        |       280 | NS      | $82510.40     | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| nVent Electric PLC             | nVent Electric plc                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      1024 | NS      | $75008.00     | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| RenaissanceRe Holdings Ltd     | RenaissanceRe Holdings Ltd.                          | CUSIP: N/A<br>LEI: EK6GB9U3U58PDI411C94       | Long             | EC               | CORP              | US        |       581 | NS      | $141124.90    | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Valaris Ltd                    | Valaris Ltd.                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      4196 | NS      | $176693.56    | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| BOFA SECURITIES, INC.          | BofA Securities, Inc.                                | CUSIP: N/A<br>LEI: 549300HN4UKV1E2R3U73       | Long             | RA               | CORP              | US        |     16436 | PA      | $16435.71     | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC.          | Barclays Capital, Inc.                               | CUSIP: N/A<br>LEI: AC28XWWI3WIBK2824319       | Long             | RA               | CORP              | US        |     17021 | PA      | $17020.80     | 0.18%             |  |  |  | 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        |     39446 | PA      | $39445.70     | 0.42%             |  |  |  | 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