# EDGAR Filing Document

**Accession Number:** 0001064046
**File Stem:** 0000913181-26-000276
**Filing Date:** 2026-3
**Character Count:** 23513
**Document Hash:** 33e56ef7bbc8926c9ef703f6fd48515e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000913181-26-000276.hdr.sgml**: 20260302

**ACCESSION NUMBER**: 0000913181-26-000276

**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:** 26705257

**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

### Retailing Fund (Series ID: S000003720)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010389 | 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:** Retailing Fund

- **b. EDGAR series identifier (if any):** S000003720

- **c. LEI of Series:** 549300JFPNTWR4CMUK44

**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:** $3112189.88

**Total Liabilities:** $11989.72

**Net Assets:** $3100200.16

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000010389 | -2.71%               | 1.06%                | -0.70%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-3660.79                | $-61908.35                                 |
| Month 2  | $1616.09                 | $26298.76                                  |
| Month 3  | $52462.27                | $-70471.06                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Gap Inc/The                    | Gap, Inc.                             | CUSIP: 364760108<br>LEI: T2ZG1WRWZ4BUCMQL9224 | Long             | EC               | CORP              | US        |      1036 | NS      | $26521.60     | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Etsy Inc                       | Etsy, Inc.                            | CUSIP: 29786A106<br>LEI: 54930089Q7XT501AEA40 | Long             | EC               | CORP              | US        |       446 | NS      | $24726.24     | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Wayfair Inc                    | Wayfair, Inc.                         | CUSIP: 94419L101<br>LEI: 54930027N9ZAVYFDHK53 | Long             | EC               | CORP              | US        |       364 | NS      | $36549.24     | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Costco Wholesale Corp          | Costco Wholesale Corp.                | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |       155 | NS      | $133662.70    | 4.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Ollie's Bargain Outlet Holding | Ollie's Bargain Outlet Holdings, Inc. | CUSIP: 681116109<br>LEI: 529900YO5DSQCPEFDZ05 | Long             | EC               | CORP              | US        |       238 | NS      | $26087.18     | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Warby Parker Inc               | Warby Parker, Inc.                    | CUSIP: 93403J106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       668 | NS      | $14555.72     | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| O'Reilly Automotive Inc        | O'Reilly Automotive, Inc.             | CUSIP: 67103H107<br>LEI: 549300K2RLMQL149Q332 | Long             | EC               | CORP              | US        |      1006 | NS      | $91757.26     | 2.96%             |  |  |  | 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        |     11234 | PA      | $11233.89     | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| Ulta Beauty Inc                | Ulta Beauty, Inc.                     | CUSIP: 90384S303<br>LEI: 529900CIV6HN8M28YM82 | Long             | EC               | CORP              | US        |        93 | NS      | $56265.93     | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Sea Ltd                        | Sea Ltd.                              | CUSIP: 81141R100<br>LEI: 529900OM6JLLW44YKI15 | Long             | EC               | CORP              | KY        |       433 | NS      | $55237.81     | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Bath & Body Works Inc          | Bath & Body Works, Inc.               | CUSIP: 070830104<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | EC               | CORP              | US        |      1076 | NS      | $21606.08     | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Target Corp                    | Target Corp.                          | CUSIP: 87612E106<br>LEI: 8WDDFXB5T1Z6J0XC1L66 | Long             | EC               | CORP              | US        |       724 | NS      | $70771.00     | 2.28%             |  |  |  | No            |                  1 | On Loan: No      |
| GameStop Corp                  | GameStop Corp.                        | CUSIP: 36467W109<br>LEI: 549300505KLOET039L77 | Long             | EC               | CORP              | US        |      1470 | NS      | $29517.60     | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| AutoZone Inc                   | AutoZone, Inc.                        | CUSIP: 053332102<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | EC               | CORP              | US        |        23 | NS      | $78004.50     | 2.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Kohl's Corp                    | Kohl's Corp.                          | CUSIP: 500255104<br>LEI: 549300JF6LPRTRJ0FH50 | Long             | EC               | CORP              | US        |       731 | NS      | $14919.71     | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Murphy USA Inc                 | Murphy USA, Inc.                      | CUSIP: 626755102<br>LEI: 549300Y081F8XIKQIO72 | Long             | EC               | CORP              | US        |        69 | NS      | $27842.88     | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                 | Amazon.com, Inc.                      | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |      1428 | NS      | $329610.96    | 10.63%            |  |  |  | No            |                  1 | On Loan: No      |
| Valvoline Inc                  | Valvoline, Inc.                       | CUSIP: 92047W101<br>LEI: 549300CMHPBEY6VPOT75 | Long             | EC               | CORP              | US        |       696 | NS      | $20225.76     | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| CarMax Inc                     | CarMax, Inc.                          | CUSIP: 143130102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       629 | NS      | $24304.56     | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Dollar Tree Inc                | Dollar Tree, Inc.                     | CUSIP: 256746108<br>LEI: 549300PMSTQITB1WHR43 | Long             | EC               | CORP              | US        |       395 | NS      | $48588.95     | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| BOFA SECURITIES, INC.          | BofA Securities, Inc.                 | CUSIP: N/A<br>LEI: 549300HN4UKV1E2R3U73       | Long             | RA               | CORP              | US        |     11234 | PA      | $11233.90     | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| PriceSmart Inc                 | PriceSmart, Inc.                      | CUSIP: 741511109<br>LEI: 549300JVYOSTGVSDZS46 | Long             | EC               | CORP              | US        |        99 | NS      | $12144.33     | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Alibaba Group Holding Ltd      | Alibaba Group Holding Ltd.            | CUSIP: 01609W102<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | KY        |       440 | NS      | $64495.20     | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Urban Outfitters Inc           | Urban Outfitters, Inc.                | CUSIP: 917047102<br>LEI: 549300N3DUFR5U6NRN38 | Long             | EC               | CORP              | US        |       297 | NS      | $22352.22     | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Global-e Online Ltd            | Global-e Online Ltd                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      1011 | NS      | $39742.41     | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Floor & Decor Holdings Inc     | Floor & Decor Holdings, Inc.          | CUSIP: 339750101<br>LEI: 549300M5FR3N688XGQ36 | Long             | EC               | CORP              | US        |       437 | NS      | $26608.93     | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| RH                             | RH                                    | CUSIP: 74967X103<br>LEI: 5493008MTS3OGGMHGK69 | Long             | EC               | CORP              | US        |        88 | NS      | $15765.20     | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Dollar General Corp            | Dollar General Corp.                  | CUSIP: 256677105<br>LEI: OPX52SQVOZI8IVSWYU66 | Long             | EC               | CORP              | US        |       425 | NS      | $56427.25     | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Boot Barn Holdings Inc         | Boot Barn Holdings, Inc.              | CUSIP: 099406100<br>LEI: 529900QE1BFMYA3N4E71 | Long             | EC               | CORP              | US        |        86 | NS      | $15176.42     | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Ross Stores Inc                | Ross Stores, Inc.                     | CUSIP: 778296103<br>LEI: 549300ENZFLPGRDFZQ60 | Long             | EC               | CORP              | US        |       443 | NS      | $79802.02     | 2.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Signet Jewelers Ltd            | Signet Jewelers Ltd.                  | CUSIP: N/A<br>LEI: 549300N3XPGE91WV7M22       | Long             | EC               | CORP              | US        |       221 | NS      | $18316.48     | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Walmart Inc                    | Walmart, Inc.                         | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |      1331 | NS      | $148286.71    | 4.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Carvana Co                     | Carvana Co.                           | CUSIP: 146869102<br>LEI: 5493003WEAK2PJ5WS063 | Long             | EC               | CORP              | US        |       219 | NS      | $92422.38     | 2.98%             |  |  |  | No            |                  1 | On Loan: No      |
| TJX Cos Inc/The                | TJX Companies, Inc.                   | CUSIP: 872540109<br>LEI: V167QI9I69W364E2DY52 | Long             | EC               | CORP              | US        |       854 | NS      | $131182.94    | 4.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Lowe's Cos Inc                 | Lowe's Companies, Inc.                | CUSIP: 548661107<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | EC               | CORP              | US        |       504 | NS      | $121544.64    | 3.92%             |  |  |  | No            |                  1 | On Loan: No      |
| JD.com Inc                     | JD.com, Inc.                          | CUSIP: 47215P106<br>LEI: 549300HVTWB0GJZ16V92 | Long             | EC               | CORP              | KY        |      1754 | NS      | $50339.80     | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| PDD Holdings Inc               | PDD Holdings, Inc.                    | CUSIP: 722304102<br>LEI: 5493000573DS7005T657 | Long             | EC               | CORP              | KY        |       711 | NS      | $80620.29     | 2.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Pool Corp                      | Pool Corp.                            | CUSIP: 73278L105<br>LEI: 5493005VZK1KMN6CO617 | Long             | EC               | CORP              | US        |       123 | NS      | $28136.25     | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| MercadoLibre Inc               | MercadoLibre, Inc.                    | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | US        |        37 | NS      | $74527.62     | 2.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Coupang Inc                    | Coupang, Inc.                         | CUSIP: 22266T109<br>LEI: 549300XR4L1D80AK4W76 | Long             | EC               | CORP              | US        |      2796 | NS      | $65957.64     | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Best Buy Co Inc                | Best Buy Company, Inc.                | CUSIP: 086516101<br>LEI: HL5XPTVRV0O8TUN5LL90 | Long             | EC               | CORP              | US        |       542 | NS      | $36276.06     | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Academy Sports & Outdoors Inc  | Academy Sports & Outdoors, Inc.       | CUSIP: 00402L107<br>LEI: 529900HST589BD301M91 | Long             | EC               | CORP              | US        |       364 | NS      | $18185.44     | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| eBay Inc                       | eBay, Inc.                            | CUSIP: 278642103<br>LEI: OML71K8X303XQONU6T67 | Long             | EC               | CORP              | US        |       773 | NS      | $67328.30     | 2.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Tractor Supply Co              | Tractor Supply Co.                    | CUSIP: 892356106<br>LEI: 549300OJ9VZHZRO6I137 | Long             | EC               | CORP              | US        |      1091 | NS      | $54560.91     | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Chewy Inc                      | Chewy, Inc.                           | CUSIP: 16679L109<br>LEI: 254900NPQSTG9I422879 | Long             | EC               | CORP              | US        |      1171 | NS      | $38701.55     | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Lithia Motors Inc              | Lithia Motors, Inc.                   | CUSIP: 536797103<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | EC               | CORP              | US        |        86 | NS      | $28580.38     | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| AutoNation Inc                 | AutoNation, Inc.                      | CUSIP: 05329W102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       109 | NS      | $22506.32     | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Five Below Inc                 | Five Below, Inc.                      | CUSIP: 33829M101<br>LEI: 529900AAXP5Z6BGI7418 | Long             | EC               | CORP              | US        |       181 | NS      | $34093.16     | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Williams-Sonoma Inc            | Williams-Sonoma, Inc.                 | CUSIP: 969904101<br>LEI: 549300IARG6YWVTZ1I92 | Long             | EC               | CORP              | US        |       266 | NS      | $47504.94     | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Dick's Sporting Goods Inc      | Dick's Sporting Goods, Inc.           | CUSIP: 253393102<br>LEI: 529900SSBV5I4LWSK313 | Long             | EC               | CORP              | US        |       215 | NS      | $42563.55     | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| American Eagle Outfitters Inc  | American Eagle Outfitters, Inc.       | CUSIP: 02553E106<br>LEI: 5299001Z9HXK01DHW793 | Long             | EC               | CORP              | US        |       827 | NS      | $21807.99     | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Macy's Inc                     | Macy's, Inc.                          | CUSIP: 55616P104<br>LEI: 529900NZQ81TIOW3CW52 | Long             | EC               | CORP              | US        |      1085 | NS      | $23924.25     | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| RealReal Inc/The               | RealReal, Inc.                        | CUSIP: 88339P101<br>LEI: 549300O00VUGT4H1PE90 | Long             | EC               | CORP              | US        |       915 | NS      | $14438.70     | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Victoria's Secret & Co         | Victoria's Secret & Co.               | CUSIP: 926400102<br>LEI: 5493006T3O70U3UWVF17 | Long             | EC               | CORP              | US        |       415 | NS      | $22480.55     | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| National Vision Holdings Inc   | National Vision Holdings, Inc.        | CUSIP: 63845R107<br>LEI: 549300JHURCBLI5ROA42 | Long             | EC               | CORP              | US        |       555 | NS      | $14330.10     | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Burlington Stores Inc          | Burlington Stores, Inc.               | CUSIP: 122017106<br>LEI: 5299003Z37DVGKKC1W09 | Long             | EC               | CORP              | US        |       162 | NS      | $46793.70     | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Genuine Parts Co               | Genuine Parts Co.                     | CUSIP: 372460105<br>LEI: 549300D46DQVEU651W04 | Long             | EC               | CORP              | US        |       342 | NS      | $42052.32     | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Groupon Inc                    | Groupon, Inc.                         | CUSIP: 399473206<br>LEI: 5299005W5W1R5POQJL03 | Long             | EC               | CORP              | US        |       414 | NS      | $7290.54      | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| BJ's Wholesale Club Holdings I | BJ's Wholesale Club Holdings, Inc.    | CUSIP: 05550J101<br>LEI: 549300UCIWH1C93V0J03 | Long             | EC               | CORP              | US        |       396 | NS      | $35651.88     | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Depot Inc/The             | Home Depot, Inc.                      | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |       361 | NS      | $124220.10    | 4.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Abercrombie & Fitch Co         | Abercrombie & Fitch Co.               | CUSIP: 002896207<br>LEI: 5493000J7LL72TOGT983 | Long             | EC               | CORP              | US        |       213 | NS      | $26810.31     | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| LKQ Corp                       | LKQ Corp.                             | CUSIP: 501889208<br>LEI: DS830JTTZQN6GK0I2E41 | Long             | EC               | CORP              | US        |       954 | NS      | $28810.80     | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Advance Auto Parts Inc         | Advance Auto Parts, Inc.              | CUSIP: 00751Y106<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | EC               | CORP              | US        |       378 | NS      | $14855.40     | 0.48%             |  |  |  | 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