# EDGAR Filing Document

**Accession Number:** 0001064046
**File Stem:** 0000913181-26-000340
**Filing Date:** 2026-3
**Character Count:** 43214
**Document Hash:** 190158162d73e7adbd34f2cedc7b3e93
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000913181-26-000340.hdr.sgml**: 20260302

**ACCESSION NUMBER**: 0000913181-26-000340

**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:** 26705333

**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 500 Pure Value Fund (Series ID: S000003738)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010407 | 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 500 Pure Value Fund

- **b. EDGAR series identifier (if any):** S000003738

- **c. LEI of Series:** 549300X1VNR3C7SILD97

**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:** $17687988.88

**Total Liabilities:** $82640.30

**Net Assets:** $17605348.58

**Cash Not Reported:** $0.14

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000010407 | -0.46%               | 3.45%                | 1.15%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-263874.15              | $122628.21                                 |
| Month 2  | $-31042.85               | $668152.49                                 |
| Month 3  | $2455162.24              | $-2281400.06                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Kraft Heinz Co/The             | Kraft Heinz Co.                          | CUSIP: 500754106<br>LEI: 9845007488EC87F5AF14 | Long             | EC               | CORP              | US        |      8000 | NS      | $194000.00    | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| VICI Properties Inc            | VICI Properties, Inc.                    | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               | CORP              | US        |      3523 | NS      | $99066.76     | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Walt Disney Co/The             | Walt Disney Co.                          | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |       621 | NS      | $70651.17     | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Cardinal Health Inc            | Cardinal Health, Inc.                    | CUSIP: 14149Y108<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | EC               | CORP              | US        |       892 | NS      | $183306.00    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| SLB Ltd                        | SLB Ltd.                                 | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | US        |      1643 | NS      | $63058.34     | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Delta Air Lines Inc            | Delta Air Lines, Inc.                    | CUSIP: 247361702<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | EC               | CORP              | US        |      2035 | NS      | $141229.00    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| PG&E Corp                      | PG&E Corp.                               | CUSIP: 69331C108<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | EC               | CORP              | US        |      9243 | NS      | $148535.01    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| ConocoPhillips                 | ConocoPhillips                           | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |       795 | NS      | $74419.95     | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Everest Group Ltd              | Everest Group Ltd.                       | CUSIP: N/A<br>LEI: 549300N24XF2VV0B3570       | Long             | EC               | CORP              | US        |       788 | NS      | $267407.80    | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| CVS Health Corp                | CVS Health Corp.                         | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |      3847 | NS      | $305297.92    | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| M&T Bank Corp                  | M&T Bank Corp.                           | CUSIP: 55261F104<br>LEI: 549300WYXDDBYRASEG81 | Long             | EC               | CORP              | US        |       546 | NS      | $110008.08    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| News Corp                      | News Corp.                               | CUSIP: 65249B208<br>LEI: 549300ITS31QK8VRBQ14 | Long             | EC               | CORP              | US        |       648 | NS      | $19200.24     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Sysco Corp                     | Sysco Corp.                              | CUSIP: 871829107<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | EC               | CORP              | US        |      1669 | NS      | $122988.61    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Franklin Resources Inc         | Franklin Resources, Inc.                 | CUSIP: 354613101<br>LEI: RIFQSET379FOGTEFKS80 | Long             | EC               | CORP              | US        |      7188 | NS      | $171721.32    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| The Campbell's Company         | The Campbell's Co.                       | CUSIP: 134429109<br>LEI: 5493007JDSMX8Z5Z1902 | Long             | EC               | CORP              | US        |      3413 | NS      | $95120.31     | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corp                   | Comcast Corp.                            | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |      7923 | NS      | $236818.47    | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Kroger Co/The                  | Kroger Co.                               | CUSIP: 501044101<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | EC               | CORP              | US        |      3615 | NS      | $225865.20    | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Humana Inc                     | Humana, Inc.                             | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Long             | EC               | CORP              | US        |      1156 | NS      | $296086.28    | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Occidental Petroleum Corp      | Occidental Petroleum Corp.               | CUSIP: 674599105<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | EC               | CORP              | US        |      2193 | NS      | $90176.16     | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Warner Bros Discovery Inc      | Warner Bros Discovery, Inc.              | CUSIP: 934423104<br>LEI: 5493006ZCRFWKF6B1K26 | Long             | EC               | CORP              | US        |      2363 | NS      | $68101.66     | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Ltd                    | Invesco Ltd.                             | CUSIP: N/A<br>LEI: ECPGFXU8A2SHKVVGJI15       | Long             | EC               | CORP              | US        |      5652 | NS      | $148478.04    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Arch Capital Group Ltd         | Arch Capital Group Ltd.                  | CUSIP: N/A<br>LEI: 549300AYR4P8AFKDCE43       | Long             | EC               | CORP              | US        |      1022 | NS      | $98030.24     | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Viatris Inc                    | Viatris, Inc.                            | CUSIP: 92556V106<br>LEI: 254900ZZTSW7NL773X71 | Long             | EC               | CORP              | US        |     13622 | NS      | $169593.90    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Conagra Brands Inc             | Conagra Brands, Inc.                     | CUSIP: 205887102<br>LEI: 54930035UDEIH090K650 | Long             | EC               | CORP              | US        |     13632 | NS      | $235969.92    | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Textron Inc                    | Textron, Inc.                            | CUSIP: 883203101<br>LEI: 3PPKBHUG1HD6BO7RNR87 | Long             | EC               | CORP              | US        |      1080 | NS      | $94143.60     | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| United Airlines Holdings Inc   | United Airlines Holdings, Inc.           | CUSIP: 910047109<br>LEI: 98450079DA0B78DD6764 | Long             | EC               | CORP              | US        |      1493 | NS      | $166947.26    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp           | Bank of America Corp.                    | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |      1251 | NS      | $68805.00     | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Stanley Black & Decker Inc     | Stanley Black & Decker, Inc.             | CUSIP: 854502101<br>LEI: 549300DJ09SMTO561131 | Long             | EC               | CORP              | US        |      2470 | NS      | $183471.60    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Diamondback Energy Inc         | Diamondback Energy, Inc.                 | CUSIP: 25278X109<br>LEI: 549300R22LSX6OHWEN64 | Long             | EC               | CORP              | US        |       719 | NS      | $108087.27    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Capital One Financial Corp     | Capital One Financial Corp.              | CUSIP: 14040H105<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EC               | CORP              | US        |       292 | NS      | $70769.12     | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Best Buy Co Inc                | Best Buy Company, Inc.                   | CUSIP: 086516101<br>LEI: HL5XPTVRV0O8TUN5LL90 | Long             | EC               | CORP              | US        |      2217 | NS      | $148383.81    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Halliburton Co                 | Halliburton Co.                          | CUSIP: 406216101<br>LEI: ENYF8GB5SMQZ25S06U51 | Long             | EC               | CORP              | US        |      2976 | NS      | $84101.76     | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| ONEOK Inc                      | ONEOK, Inc.                              | CUSIP: 682680103<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | EC               | CORP              | US        |       933 | NS      | $68575.50     | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Molina Healthcare Inc          | Molina Healthcare, Inc.                  | CUSIP: 60855R100<br>LEI: 549300NQQCEQ46YHZ591 | Long             | EC               | CORP              | US        |      1834 | NS      | $318272.36    | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| DR Horton Inc                  | DR Horton, Inc.                          | CUSIP: 23331A109<br>LEI: 529900ZIUEYVSB8QDD25 | Long             | EC               | CORP              | US        |       479 | NS      | $68990.37     | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Biogen Inc                     | Biogen, Inc.                             | CUSIP: 09062X103<br>LEI: W8J5WZB5IY3K0NDQT671 | Long             | EC               | CORP              | US        |       409 | NS      | $71979.91     | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Consolidated Edison Inc        | Consolidated Edison, Inc.                | CUSIP: 209115104<br>LEI: 54930033SBW53OO8T749 | Long             | EC               | CORP              | US        |       812 | NS      | $80647.84     | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Coterra Energy Inc             | Coterra Energy, Inc.                     | CUSIP: 127097103<br>LEI: FCNMH6O7VWU7LHXMK351 | Long             | EC               | CORP              | US        |      2962 | NS      | $77959.84     | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Marathon Petroleum Corp        | Marathon Petroleum Corp.                 | CUSIP: 56585A102<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | EC               | CORP              | US        |       876 | NS      | $142463.88    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| MetLife Inc                    | MetLife, Inc.                            | CUSIP: 59156R108<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | EC               | CORP              | US        |      1854 | NS      | $146354.76    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Truist Financial Corp          | Truist Financial Corp.                   | CUSIP: 89832Q109<br>LEI: 549300DRQQI75D2JP341 | Long             | EC               | CORP              | US        |      2659 | NS      | $130849.39    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Hormel Foods Corp              | Hormel Foods Corp.                       | CUSIP: 440452100<br>LEI: MSD54751OJP1FS2ND863 | Long             | EC               | CORP              | US        |      4879 | NS      | $115632.30    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| FedEx Corp                     | FedEx Corp.                              | CUSIP: 31428X106<br>LEI: 549300E707U7WNPZN687 | Long             | EC               | CORP              | US        |       404 | NS      | $116699.44    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| AES Corp/The                   | AES Corp.                                | CUSIP: 00130H105<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | EC               | CORP              | US        |      7319 | NS      | $104954.46    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Dollar General Corp            | Dollar General Corp.                     | CUSIP: 256677105<br>LEI: OPX52SQVOZI8IVSWYU66 | Long             | EC               | CORP              | US        |      1028 | NS      | $136487.56    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Target Corp                    | Target Corp.                             | CUSIP: 87612E106<br>LEI: 8WDDFXB5T1Z6J0XC1L66 | Long             | EC               | CORP              | US        |      2370 | NS      | $231667.50    | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Phillips 66                    | Phillips 66                              | CUSIP: 718546104<br>LEI: 5493005JBO5YSIGK1814 | Long             | EC               | CORP              | US        |      1473 | NS      | $190075.92    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Dow Inc                        | Dow, Inc.                                | CUSIP: 260557103<br>LEI: 5493003S21INSLK2IP73 | Long             | EC               | CORP              | US        |     12103 | NS      | $282968.14    | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| News Corp                      | News Corp.                               | CUSIP: 65249B109<br>LEI: 549300ITS31QK8VRBQ14 | Long             | EC               | CORP              | US        |      1938 | NS      | $50620.56     | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Aptiv PLC                      | Aptiv plc                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      1397 | NS      | $106297.73    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Pinnacle West Capital Corp     | Pinnacle West Capital Corp.              | CUSIP: 723484101<br>LEI: TWSEY0NEDUDCKS27AH81 | Long             | EC               | CORP              | US        |       900 | NS      | $79830.00     | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp               | Exxon Mobil Corp.                        | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |       580 | NS      | $69797.20     | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| PulteGroup Inc                 | PulteGroup, Inc.                         | CUSIP: 745867101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       608 | NS      | $71294.08     | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| HP Inc                         | HP, Inc.                                 | CUSIP: 40434L105<br>LEI: WHKXQACZ14C5XRO8LW03 | Long             | EC               | CORP              | US        |      5474 | NS      | $121960.72    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| American International Group I | American International Group, Inc.       | CUSIP: 026874784<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | EC               | CORP              | US        |      1923 | NS      | $164512.65    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Inc                  | Citigroup, Inc.                          | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |      1306 | NS      | $152397.14    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| MGM Resorts International      | MGM Resorts International                | CUSIP: 552953101<br>LEI: 54930066VBP7DZEGGJ87 | Long             | EC               | CORP              | US        |      2931 | NS      | $106952.19    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| General Motors Co              | General Motors Co.                       | CUSIP: 37045V100<br>LEI: 54930070NSV60J38I987 | Long             | EC               | CORP              | US        |      4119 | NS      | $334957.08    | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| KeyCorp                        | KeyCorp                                  | CUSIP: 493267108<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | EC               | CORP              | US        |      4685 | NS      | $96698.40     | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Mosaic Co/The                  | Mosaic Co.                               | CUSIP: 61945C103<br>LEI: 2YD5STGSJNMUB7H76907 | Long             | EC               | CORP              | US        |     13729 | NS      | $330731.61    | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Verizon Communications Inc     | Verizon Communications, Inc.             | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |      2604 | NS      | $106060.92    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Keurig Dr Pepper Inc           | Keurig Dr Pepper, Inc.                   | CUSIP: 49271V100<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | EC               | CORP              | US        |      2374 | NS      | $66495.74     | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Hartford Insurance Group Inc/T | Hartford Insurance Group, Inc.           | CUSIP: 416515104<br>LEI: IU7C3FTM7Y3BQM112U94 | Long             | EC               | CORP              | US        |       550 | NS      | $75790.00     | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Bunge Global SA                | Bunge Global S.A.                        | CUSIP: N/A<br>LEI: 254900IVXSV9K0B7PO26       | Long             | EC               | CORP              | US        |      3825 | NS      | $340731.00    | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Tyson Foods Inc                | Tyson Foods, Inc.                        | CUSIP: 902494103<br>LEI: WD6L6041MNRW1JE49D58 | Long             | EC               | CORP              | US        |      5378 | NS      | $315258.36    | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Paramount Skydance Corp        | Paramount Skydance Corp.                 | CUSIP: 69932A204<br>LEI: 529900B6VAJG54Y9QF02 | Long             | EC               | CORP              | US        |     16526 | NS      | $221448.40    | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Hewlett Packard Enterprise Co  | Hewlett Packard Enterprise Co.           | CUSIP: 42824C109<br>LEI: 549300BX44RGX6ANDV88 | Long             | EC               | CORP              | US        |      6727 | NS      | $161582.54    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Smurfit WestRock PLC           | Smurfit WestRock plc                     | CUSIP: N/A<br>LEI: 635400EGSEOPDW2EXS14       | Long             | EC               | CORP              | US        |      6643 | NS      | $256884.81    | 1.46%             |  |  |  | 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        |     68749 | PA      | $68748.52     | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Southwest Airlines Co          | Southwest Airlines Co.                   | CUSIP: 844741108<br>LEI: UDTZ87G0STFETI6HGH41 | Long             | EC               | CORP              | US        |      2797 | NS      | $115600.01    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Eversource Energy              | Eversource Energy                        | CUSIP: 30040W108<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | EC               | CORP              | US        |      1135 | NS      | $76419.55     | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Corp              | State Street Corp.                       | CUSIP: 857477103<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | EC               | CORP              | US        |       669 | NS      | $86307.69     | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Citizens Financial Group Inc   | Citizens Financial Group, Inc.           | CUSIP: 174610105<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | EC               | CORP              | US        |      2250 | NS      | $131422.50    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Fifth Third Bancorp            | Fifth Third Bancorp                      | CUSIP: 316773100<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | EC               | CORP              | US        |      1389 | NS      | $65019.09     | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Pfizer Inc                     | Pfizer, Inc.                             | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |      2719 | NS      | $67703.10     | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Assurant Inc                   | Assurant, Inc.                           | CUSIP: 04621X108<br>LEI: H3F39CAXWQRVWURFXL38 | Long             | EC               | CORP              | US        |       478 | NS      | $115126.30    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| APA Corp                       | APA Corp.                                | CUSIP: 03743Q108<br>LEI: 549300VCIWLRHYVSHC79 | Long             | EC               | CORP              | US        |      5279 | NS      | $129124.34    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| BOFA SECURITIES, INC.          | BofA Securities, Inc.                    | CUSIP: N/A<br>LEI: 549300HN4UKV1E2R3U73       | Long             | RA               | CORP              | US        |     68749 | PA      | $68748.53     | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Regions Financial Corp         | Regions Financial Corp.                  | CUSIP: 7591EP100<br>LEI: CW05CS5KW59QTC0DG824 | Long             | EC               | CORP              | US        |      3379 | NS      | $91570.90     | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| International Paper Co         | International Paper Co.                  | CUSIP: 460146103<br>LEI: 824LMFJDH41EY779Q875 | Long             | EC               | CORP              | US        |      4286 | NS      | $168825.54    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| IFF                            | International Flavors & Fragrances, Inc. | CUSIP: 459506101<br>LEI: BZLRL03D3GPGMOGFO832 | Long             | EC               | CORP              | US        |      1471 | NS      | $99130.69     | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Builders FirstSource Inc       | Builders FirstSource, Inc.               | CUSIP: 12008R107<br>LEI: 549300W0SKP6L3H7DP63 | Long             | EC               | CORP              | US        |       788 | NS      | $81077.32     | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Elevance Health Inc            | Elevance Health, Inc.                    | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |       758 | NS      | $265716.90    | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Nucor Corp                     | Nucor Corp.                              | CUSIP: 670346105<br>LEI: 549300GGJCRSI2TIEJ46 | Long             | EC               | CORP              | US        |       563 | NS      | $91830.93     | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Baxter International Inc       | Baxter International, Inc.               | CUSIP: 071813109<br>LEI: J5OIVXX3P24RJRW5CK77 | Long             | EC               | CORP              | US        |      7303 | NS      | $139560.33    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Health Services Inc  | Universal Health Services, Inc.          | CUSIP: 913903100<br>LEI: 549300YGMGQDO0NMJD09 | Long             | EC               | CORP              | US        |       471 | NS      | $102687.42    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Huntington Ingalls Industries  | Huntington Ingalls Industries, Inc.      | CUSIP: 446413106<br>LEI: 5TZLZ6WJTBVJ0QWBG121 | Long             | EC               | CORP              | US        |       224 | NS      | $76175.68     | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Henry Schein Inc               | Henry Schein, Inc.                       | CUSIP: 806407102<br>LEI: VGO3WGL8H45T73F4RR92 | Long             | EC               | CORP              | US        |      1418 | NS      | $107172.44    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc         | UnitedHealth Group, Inc.                 | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |       315 | NS      | $103984.65    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Travelers Cos Inc/The          | Travelers Companies, Inc.                | CUSIP: 89417E109<br>LEI: 549300Y650407RU8B149 | Long             | EC               | CORP              | US        |       269 | NS      | $78026.14     | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| US Bancorp                     | U.S. Bancorp                             | CUSIP: 902973304<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EC               | CORP              | US        |      1631 | NS      | $87030.16     | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp                   | Chevron Corp.                            | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       581 | NS      | $88550.21     | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Lennar Corp                    | Lennar Corp.                             | CUSIP: 526057104<br>LEI: 529900G61XVRLX5TJX09 | Long             | EC               | CORP              | US        |      1119 | NS      | $115033.20    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Zimmer Biomet Holdings Inc     | Zimmer Biomet Holdings, Inc.             | CUSIP: 98956P102<br>LEI: 2P2YLDVPES3BXQ1FRB91 | Long             | EC               | CORP              | US        |       723 | NS      | $65012.16     | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Block Inc                      | Block, Inc.                              | CUSIP: 852234103<br>LEI: 549300OHIIUWSTIZME52 | Long             | EC               | CORP              | US        |      1128 | NS      | $73421.52     | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| McKesson Corp                  | McKesson Corp.                           | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |       219 | NS      | $179643.51    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Archer-Daniels-Midland Co      | Archer-Daniels-Midland Co.               | CUSIP: 039483102<br>LEI: 549300LO13MQ9HYSTR83 | Long             | EC               | CORP              | US        |      5376 | NS      | $309066.24    | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Ball Corp                      | Ball Corp.                               | CUSIP: 058498106<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | EC               | CORP              | US        |      1425 | NS      | $75482.25     | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Omnicom Group Inc              | Omnicom Group, Inc.                      | CUSIP: 681919106<br>LEI: HKUPACFHSSASQK8HLS17 | Long             | EC               | CORP              | US        |      1105 | NS      | $89228.75     | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Centene Corp                   | Centene Corp.                            | CUSIP: 15135B101<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | EC               | CORP              | US        |      7905 | NS      | $325290.75    | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Allstate Corp/The              | Allstate Corp.                           | CUSIP: 020002101<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | EC               | CORP              | US        |       559 | NS      | $116355.85    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Cigna Group/The                | Cigna Group                              | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |      1122 | NS      | $308808.06    | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Chubb Ltd                      | Chubb Ltd.                               | CUSIP: N/A<br>LEI: E0JAN6VLUDI1HITHT809       | Long             | EC               | CORP              | US        |       257 | NS      | $80214.84     | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Genuine Parts Co               | Genuine Parts Co.                        | CUSIP: 372460105<br>LEI: 549300D46DQVEU651W04 | Long             | EC               | CORP              | US        |       595 | NS      | $73161.20     | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| LyondellBasell Industries NV   | LyondellBasell Industries N.V.           | CUSIP: N/A<br>LEI: BN6WCCZ8OVP3ITUUVN49       | Long             | EC               | CORP              | US        |      4918 | NS      | $212949.40    | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| PNC Financial Services Group I | PNC Financial Services Group, Inc.       | CUSIP: 693475105<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | EC               | CORP              | US        |       363 | NS      | $75768.99     | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Loews Corp                     | Loews Corp.                              | CUSIP: 540424108<br>LEI: R8V1FN4M5ITGZOG7BS19 | Long             | EC               | CORP              | US        |      1351 | NS      | $142273.81    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| DuPont de Nemours Inc          | DuPont de Nemours, Inc.                  | CUSIP: 26614N102<br>LEI: 5493004JF0SDFLM8GD76 | Long             | EC               | CORP              | US        |      5761 | NS      | $231592.20    | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Fiserv Inc                     | Fiserv, Inc.                             | CUSIP: 337738108<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | EC               | CORP              | US        |      1762 | NS      | $118353.54    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Edison International           | Edison International                     | CUSIP: 281020107<br>LEI: 549300I7ROF15MAEVP56 | Long             | EC               | CORP              | US        |      2075 | NS      | $124541.50    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Cencora Inc                    | Cencora, Inc.                            | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | EC               | CORP              | US        |       519 | NS      | $175292.25    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Valero Energy Corp             | Valero Energy Corp.                      | CUSIP: 91913Y100<br>LEI: 549300XTO5VR8SKV1V74 | Long             | EC               | CORP              | US        |      1022 | NS      | $166371.38    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Ford Motor Co                  | Ford Motor Co.                           | CUSIP: 345370860<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | EC               | CORP              | US        |     26754 | NS      | $351012.48    | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Devon Energy Corp              | Devon Energy Corp.                       | CUSIP: 25179M103<br>LEI: 54930042348RKR3ZPN35 | Long             | EC               | CORP              | US        |      2739 | NS      | $100329.57    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Principal Financial Group Inc  | Principal Financial Group, Inc.          | CUSIP: 74251V102<br>LEI: CUMYEZJOAF02RYZ1JJ85 | Long             | EC               | CORP              | US        |      1207 | NS      | $106469.47    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Payments Inc            | Global Payments, Inc.                    | CUSIP: 37940X102<br>LEI: 549300NOMHGVQBX6S778 | Long             | EC               | CORP              | US        |      2550 | NS      | $197370.00    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Amcor PLC                      | Amcor plc                                | CUSIP: N/A<br>LEI: 549300GSODGFCDQ3DI89       | Long             | EC               | CORP              | US        |     14739 | NS      | $122923.26    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Prudential Financial Inc       | Prudential Financial, Inc.               | CUSIP: 744320102<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | EC               | CORP              | US        |      1833 | NS      | $206909.04    | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Alexandria Real Estate Equitie | Alexandria Real Estate Equities, Inc.    | CUSIP: 015271109<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | EC               | CORP              | US        |      3909 | NS      | $191306.46    | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Huntington Bancshares Inc/OH   | Huntington Bancshares, Inc.              | CUSIP: 446150104<br>LEI: 549300XTVCVV9I7B5T19 | Long             | EC               | CORP              | US        |      5704 | NS      | $98964.40     | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T Inc                       | AT&T, Inc.                               | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |      3720 | NS      | $92404.80     | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Charter Communications Inc     | Charter Communications, Inc.             | CUSIP: 16119P108<br>LEI: 0J0XRGZE3PBRFEZ7MV65 | Long             | EC               | CORP              | US        |       993 | NS      | $207288.75    | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Molson Coors Beverage Co       | Molson Coors Beverage Co.                | CUSIP: 60871R209<br>LEI: 54930073LBBH6ZCBE225 | Long             | EC               | CORP              | US        |      3467 | NS      | $161839.56    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Exelon Corp                    | Exelon Corp.                             | CUSIP: 30161N101<br>LEI: 3SOUA6IRML7435B56G12 | Long             | EC               | CORP              | US        |      1562 | NS      | $68087.58     | 0.39%             |  |  |  | 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