# EDGAR Filing Document

**Accession Number:** 0001064046
**File Stem:** 0000940400-26-023123
**Filing Date:** 2026-6
**Character Count:** 23927
**Document Hash:** 070bd3aebc659b1911cca34ed3b068d7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-023123.hdr.sgml**: 20260601

**ACCESSION NUMBER**: 0000940400-26-023123

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260601

**DATE AS OF CHANGE**: 20260601

**PERIOD START**: 20261231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** RYDEX VARIABLE TRUST
- **CENTRAL INDEX KEY:** 0001064046

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08821
- **FILM NUMBER:** 261049119

**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

### Europe 1.25x Strategy Fund (Series ID: S000003749)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010418 | Variable Annuity |  |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Rydex Variable Trust

- **b. Investment Company Act file number:** 811-08821

- **c. CIK number of Registrant:** 0001064046

- **d. LEI of Registrant:** 549300LJH0YR8RY3N305

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 702 KING FARM BOULEVARD

  - **City:** ROCKVILLE

  - **State:** MD

  - **Foreign country:** US

  - **Zip / Postal Code:** 20850

  - **Telephone number:** 301-296-5100

**Item A.2. Information about the Series.**

- **a. Name of Series:** Europe 1.25x Strategy Fund

- **b. EDGAR series identifier (if any):** S000003749

- **c. LEI of Series:** 54930044GRP1GGC58K12

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

- **a. Date of fiscal year-end:** 2026-12-31

- **b. Date as of which information is reported:** 2026-03-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $1534855.63

**Total Liabilities:** $11861.20

**Net Assets:** $1522994.43

**Cash Not Reported:** $232046.77

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000010418 | 6.03%                | 4.24%                | -11.04%              |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-5599.11                | $55798.03                                  |
| Month 2  | $16492.82                | $29056.59                                  |
| Month 3  | $13368.42                | $-191443.80                                |

**Designated Index Information**

- **Index Name:** DJ STOXX 50

- **Index Identifier:** STXE50_USD

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Nestle SA                                          | Nestle SA SPONSORED ADR                                      | CUSIP: 641069406<br>LEI: KY37LUS27QQX7BB93L28 | Long             | EC               | CORP              | CH        |       243 | NS      | $24081.30     | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                         | J.P. MORGAN SECURITIES LLC TRI PARTY                         | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | Long             | RA               | CORP              | US        |    101750 | PA      | $101749.80    | 6.68%             |  |  |  | No            |                  2 | On Loan: No      |
| Novo Nordisk A/S                                   | Novo Nordisk A/S ADR                                         | CUSIP: 670100205<br>LEI: 549300DAQ1CVT6CXN342 | Long             | EC               | CORP              | DK        |       303 | NS      | $11135.25     | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Rheinmetall AG                                     | Rheinmetall AG UNSPONSORD ADR                                | CUSIP: 76206K107<br>LEI: 5299001OU9CSE29O6S05 | Long             | EC               | CORP              | DE        |        22 | NS      | $7392.22      | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Intesa Sanpaolo S.p.A.                             | Intesa Sanpaolo S.p.A. SPONSORED ADR                         | CUSIP: 46115H107<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | EC               | CORP              | IT        |       240 | NS      | $8781.60      | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Anheuser-Busch Inbev SA/NV                         | Anheuser-Busch Inbev SA/NV SPONSORED ADR                     | CUSIP: 03524A108<br>LEI: 5493008H3828EMEXB082 | Long             | EC               | CORP              | BE        |        97 | NS      | $6728.89      | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Siemens Energy AG                                  | Siemens Energy AG SPON ADS 1 ORD                             | CUSIP: 82621A203<br>LEI: 5299005CHJZ14D4FDJ62 | Long             | EC               | CORP              | DE        |        74 | NS      | $12485.28     | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML Holding N.V.                                  | ASML Holding N.V. NY REGISTRY SHS                            | CUSIP: 000000000<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               | CORP              | NL        |        37 | NS      | $48870.71     | 3.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Hermes International                               | Hermes International ADR                                     | CUSIP: 42751Q105<br>LEI: 969500Y4IJGHJE2MTJ13 | Long             | EC               | CORP              | FR        |        33 | NS      | $6260.43      | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP Paribas SA                                     | BNP Paribas SA SPONSORED ADR                                 | CUSIP: 05565A202<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | EC               | CORP              | FR        |       195 | NS      | $9280.05      | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Rio Tinto PLC                                      | Rio Tinto PLC SPONSORED ADR                                  | CUSIP: 767204100<br>LEI: 213800YOEO5OQ72G2R82 | Long             | EC               | CORP              | GB        |       101 | NS      | $9422.29      | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Guggenheim Strategy Funds Trust                    | Guggenheim Strategy Fund II                                  | CUSIP: 40168Q205<br>LEI: 5493007THUTJ3GMETL84 | Long             | EC               | RF                | US        |      9255 | NS      | $228972.49    | 15.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Unilever PLC                                       | Unilever PLC SPON ADR NEW                                    | CUSIP: 904767803<br>LEI: 549300MKFYEKVRWML317 | Long             | EC               | CORP              | GB        |       205 | NS      | $11678.85     | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Munich Reinsurance AG                              | Munich Reinsurance AG UNSPONSORED ADR                        | CUSIP: 626188106<br>LEI: 529900MUF4C20K50JS49 | Long             | EC               | CORP              | DE        |       614 | NS      | $7717.98      | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| TotalEnergies SE                                   | TotalEnergies SE EUR2.5                                      | CUSIP: 000000000<br>LEI: 529900S21EQ1BO4ESM68 | Long             | EC               | CORP              | FR        |       206 | NS      | $18741.88     | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| EUREX CLEARING AKTIENGESELLSCHAFT                  | STOXX Europe 50 Index Futures(FSTX) Index Fut                | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DE               | CORP              | DE        |        23 | NC      | $7290.91      | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED | MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED TRI PARTY | CUSIP: 000000000<br>LEI: 8NAV47T0Y26Q87Y0QP81 | Long             | RA               | CORP              | US        |     92468 | PA      | $92467.95     | 6.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Siemens AG                                         | Siemens AG SPONSORED ADR                                     | CUSIP: 826197501<br>LEI: W38RGI023J3WT1HWRP32 | Long             | EC               | CORP              | DE        |       142 | NS      | $17306.96     | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Axa SA                                             | Axa SA SPONSORED ADR                                         | CUSIP: 054536107<br>LEI: F5WCUMTUM4RKZ1MAIE39 | Long             | EC               | CORP              | FR        |       166 | NS      | $7633.84      | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| SAP SE                                             | SAP SE SPON ADR                                              | CUSIP: 803054204<br>LEI: 529900D6BF99LW9R2E68 | Long             | EC               | CORP              | DE        |        97 | NS      | $16607.37     | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Vinci SA                                           | Vinci SA ADR                                                 | CUSIP: 927320101<br>LEI: 213800WFQ334R8UXUG83 | Long             | EC               | CORP              | FR        |       220 | NS      | $8256.60      | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Air Liquide S.A.(L')                               | Air Liquide S.A.(L') ADR                                     | CUSIP: 009126202<br>LEI: 969500MMPQVHK671GT54 | Long             | EC               | CORP              | FR        |       274 | NS      | $11371.00     | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| L'Oreal S.A.                                       | L'Oreal S.A. ADR                                             | CUSIP: 502117203<br>LEI: 529900JI1GG6F7RKVI53 | Long             | EC               | CORP              | FR        |       114 | NS      | $9340.02      | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| UniCredit S.p.A.                                   | UniCredit S.p.A. UNSPONSORD ADR                              | CUSIP: 904678406<br>LEI: 549300TRUWO2CD2G5692 | Long             | EC               | CORP              | IT        |       284 | NS      | $10241.04     | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Compagnie Financiere Richemont Sa                  | Compagnie Financiere Richemont Sa SPON ADR                   | CUSIP: 204319107<br>LEI: 549300YIPGJ6UX2QPS51 | Long             | EC               | CORP              | CH        |       507 | NS      | $8958.69      | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Iberdrola, S.A.                                    | Iberdrola, S.A. SPON ADR                                     | CUSIP: 450737101<br>LEI: 5QK37QC7NWOJ8D7WVQ45 | Long             | EC               | CORP              | ES        |       146 | NS      | $13467.04     | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| LVMH Moet Hennessy Louis Vuitton SE                | LVMH Moet Hennessy Louis Vuitton SE ADR                      | CUSIP: 502441306<br>LEI: IOG4E947OATN0KJYSD45 | Long             | EC               | CORP              | FR        |       118 | NS      | $12890.32     | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Guggenheim Funds Trust                             | Guggenheim Ultra Short Duration Fund                         | CUSIP: 40169J523<br>LEI: 54930033G24U3UGWK691 | Long             | EC               | RF                | US        |     18098 | NS      | $181884.92    | 11.94%            |  |  |  | No            |                  1 | On Loan: No      |
| ING Groep N.V.                                     | ING Groep N.V. SPONSORED ADR                                 | CUSIP: 456837103<br>LEI: 549300NYKK9MWM7GGW15 | Long             | EC               | CORP              | NL        |       276 | NS      | $7189.80      | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| London Stock Exchange Group PLC                    | London Stock Exchange Group PLC SPONSORED ADS                | CUSIP: 54211Y107<br>LEI: 213800QAUUUP6I445N30 | Long             | EC               | CORP              | GB        |       185 | NS      | $5518.55      | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| ABB Ltd.                                           | ABB Ltd. SPONSORED ADR                                       | CUSIP: 000375204<br>LEI: 5493000LKVGOO9PELI61 | Long             | EC               | CORP              | CH        |       149 | NS      | $11991.52     | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| AstraZeneca PLC                                    | AstraZeneca PLC ORD USD0.25                                  | CUSIP: 000000000<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |       146 | NS      | $28794.12     | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco Bilbao Vizcaya Argentaria SA                 | Banco Bilbao Vizcaya Argentaria SA SPONSORED ADR             | CUSIP: 05946K101<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | EC               | CORP              | ES        |       541 | NS      | $11718.06     | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Sanofi SA                                          | Sanofi SA SPONSORED ADR                                      | CUSIP: 80105N105<br>LEI: 549300E9PC51EN656011 | Long             | EC               | CORP              | FR        |       214 | NS      | $10310.52     | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| National Grid PLC                                  | National Grid PLC SPONSORED ADR NE                           | CUSIP: 636274409<br>LEI: 8R95QZMKZLJX5Q2XR704 | Long             | EC               | CORP              | GB        |        98 | NS      | $8290.80      | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Roche Holding AG                                   | Roche Holding AG SPONSORED ADR                               | CUSIP: 771195104<br>LEI: 549300U41AUUVOAAOB37 | Long             | EC               | CORP              | CH        |       532 | NS      | $26445.72     | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| EssilorLuxottica SA                                | EssilorLuxottica SA UNSPONSORED ADR                          | CUSIP: 297284200<br>LEI: 549300M3VH1A3ER1TB49 | Long             | EC               | CORP              | FR        |        59 | NS      | $6873.50      | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| HSBC Holdings PLC                                  | HSBC Holdings PLC SPON ADR NEW                               | CUSIP: 404280406<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | EC               | CORP              | GB        |       323 | NS      | $26644.27     | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Airbus SE                                          | Airbus SE UNSPONSORED ADR                                    | CUSIP: 009279100<br>LEI: MINO79WLOO247M1IL051 | Long             | EC               | CORP              | NL        |       222 | NS      | $10489.50     | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Rolls-Royce Holdings PLC                           | Rolls-Royce Holdings PLC SPONSORED ADR                       | CUSIP: 775781206<br>LEI: 213800EC7997ZBLZJH69 | Long             | EC               | CORP              | GB        |       793 | NS      | $12228.06     | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Novartis AG                                        | Novartis AG SPONSORED ADR                                    | CUSIP: 66987V109<br>LEI: 5493007HIVTX6SY6XD66 | Long             | EC               | CORP              | CH        |       179 | NS      | $27342.25     | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| GSK plc                                            | GSK plc SPONSORED ADR                                        | CUSIP: 37733W204<br>LEI: 5493000HZTVUYLO1D793 | Long             | EC               | CORP              | GB        |       193 | NS      | $10651.67     | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.                   | Euro FX Futures, Jun-2026,ETH                                | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DFE              | CORP              | US        |         9 | NC      | $-790.80      | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Telekom AG                                | Deutsche Telekom AG SPONSORED ADS                            | CUSIP: 251566105<br>LEI: 549300V9QSIG4WX4GJ96 | Long             | EC               | CORP              | DE        |       332 | NS      | $12310.56     | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Relx PLC                                           | Relx PLC SPONSORED ADR                                       | CUSIP: 759530108<br>LEI: 549300WSX3VBUFFJOO66 | Long             | EC               | CORP              | GB        |       172 | NS      | $5701.80      | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Allianz SE                                         | Allianz SE UNSPONSRD ADS                                     | CUSIP: 018820100<br>LEI: 529900K9B0N5BT694847 | Long             | EC               | CORP              | DE        |       359 | NS      | $15092.36     | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Safran SA                                          | Safran SA SPON ADR                                           | CUSIP: 786584102<br>LEI: 969500UIC89GT3UL7L24 | Long             | EC               | CORP              | FR        |       139 | NS      | $11402.17     | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Shell PLC                                          | Shell PLC SPON ADS                                           | CUSIP: 780259305<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |       267 | NS      | $24831.00     | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS Group AG                                       | UBS Group AG CHF0.10 (REGD)                                  | CUSIP: 000000000<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | EC               | CORP              | CH        |       291 | NS      | $11369.37     | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Schneider Electric SE                              | Schneider Electric SE UNSPONSORD ADR                         | CUSIP: 80687P106<br>LEI: 969500A1YF1XUYYXS284 | Long             | EC               | CORP              | FR        |       273 | NS      | $14859.39     | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Prosus NV                                          | Prosus NV SPONSORED ADR                                      | CUSIP: 74365P108<br>LEI: 635400Z5LQ5F9OLVT688 | Long             | EC               | CORP              | NL        |       580 | NS      | $5365.00      | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Enel S.p.A.                                        | Enel S.p.A. UNSPONSORD ADR                                   | CUSIP: 29265W207<br>LEI: WOCMU6HCI0OJWNPRZS33 | Long             | EC               | CORP              | IT        |       734 | NS      | $7985.92      | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Zurich Insurance Group AG                          | Zurich Insurance Group AG SPONSORED ADR                      | CUSIP: 989825104<br>LEI: 529900QVNRBND50TXP03 | Long             | EC               | CORP              | CH        |       276 | NS      | $9800.76      | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco Santander SA                                 | Banco Santander SA ADR                                       | CUSIP: 05964H105<br>LEI: 5493006QMFDDMYWIAM13 | Long             | EC               | CORP              | ES        |      1391 | NS      | $15690.48     | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| BP PLC                                             | BP PLC SPONSORED ADR                                         | CUSIP: 055622104<br>LEI: 213800LH1BZH3DI6G760 | Long             | EC               | CORP              | GB        |       259 | NS      | $12173.00     | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| British American Tobacco PLC                       | British American Tobacco PLC SPONSORED ADR                   | CUSIP: 110448107<br>LEI: 213800FKA5MF17RJKT63 | Long             | EC               | CORP              | GB        |       205 | NS      | $11986.35     | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-06-01

**Name of Applicant:** Rydex Variable Trust

**Signature:** James Howley

**Name of Signer:** James Howley

**Title:** Chief Financial Officer