# EDGAR Filing Document

**Accession Number:** 0001064046
**File Stem:** 0000913181-26-000303
**Filing Date:** 2026-3
**Character Count:** 39161
**Document Hash:** 684c3e75394193935016b786b5368ca5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000913181-26-000303.hdr.sgml**: 20260302

**ACCESSION NUMBER**: 0000913181-26-000303

**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:** 26705287

**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

### NASDAQ-100(R) 2x Strategy Fund (Series ID: S000003752)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010421 | 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:** NASDAQ-100 2x Strategy Fund

- **b. EDGAR series identifier (if any):** S000003752

- **c. LEI of Series:** 549300LJ1KH6QGVD7G61

**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:** $153047313.91

**Total Liabilities:** $2473451.84

**Net Assets:** $150573862.07

**Cash Not Reported:** $1436270.90

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000010421 | 8.85%                | -3.97%               | -2.11%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-19586.83               | $6047086.15                                |
| Month 2  | $-810662.29              | $-2484987.63                               |
| Month 3  | $383549.22               | $-1657940.09                               |

**Designated Index Information**

- **Index Name:** NASDAQ-100 Index

- **Index Identifier:** NASDAQ100

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Palo Alto Networks Inc         | Palo Alto Networks, Inc.                | CUSIP: 697435105<br>LEI: 549300QXR2YVZV231H43 | Long             | EC               | CORP              | US        |      5140 | NS      | $946788.00    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc                      | Apple, Inc.                             | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |     39470 | NS      | $10730314.20  | 7.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                   | Alphabet, Inc.                          | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     15541 | NS      | $4864333.00   | 3.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Alnylam Pharmaceuticals Inc    | Alnylam Pharmaceuticals, Inc.           | CUSIP: 02043Q107<br>LEI: 529900S3ZI14OWRJII50 | Long             | EC               | CORP              | US        |       974 | NS      | $387311.10    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Tesla Inc                      | Tesla, Inc.                             | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |     11817 | NS      | $5314341.24   | 3.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                   | Alphabet, Inc.                          | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     14443 | NS      | $4532213.40   | 3.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc             | Meta Platforms, Inc.                    | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |      7845 | NS      | $5178406.05   | 3.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Crowdstrike Holdings Inc       | Crowdstrike Holdings, Inc.              | CUSIP: 22788C105<br>LEI: 549300YBY08K9KM4HX32 | Long             | EC               | CORP              | US        |      1851 | NS      | $867674.76    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Autodesk Inc                   | Autodesk, Inc.                          | CUSIP: 052769106<br>LEI: FRKKVKAIQEF3FCSTPG55 | Long             | EC               | CORP              | US        |      1563 | NS      | $462663.63    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Micro Devices Inc     | Advanced Micro Devices, Inc.            | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |     12006 | NS      | $2571204.96   | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Exelon Corp                    | Exelon Corp.                            | CUSIP: 30161N101<br>LEI: 3SOUA6IRML7435B56G12 | Long             | EC               | CORP              | US        |      7450 | NS      | $324745.50    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Marvell Technology Inc         | Marvell Technology, Inc.                | CUSIP: 573874104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6358 | NS      | $540302.84    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Instruments Inc          | Texas Instruments, Inc.                 | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |      6701 | NS      | $1162556.49   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML Holding NV                | ASML Holding N.V.                       | CUSIP: N/A<br>LEI: 724500Y6DUVHQD6OXN27       | Long             | EC               | CORP              | US        |       647 | NS      | $692199.42    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| PACCAR Inc                     | PACCAR, Inc.                            | CUSIP: 693718108<br>LEI: KDTEY8BWE486IKZ3CC07 | Long             | EC               | CORP              | US        |      3873 | NS      | $424132.23    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlassian Corp                 | Atlassian Corp.                         | CUSIP: 049468101<br>LEI: 549300V7ZY5P02D2MY38 | Long             | EC               | CORP              | US        |      1239 | NS      | $200891.46    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Diamondback Energy Inc         | Diamondback Energy, Inc.                | CUSIP: 25278X109<br>LEI: 549300R22LSX6OHWEN64 | Long             | EC               | CORP              | US        |      2112 | NS      | $317496.96    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Starbucks Corp                 | Starbucks Corp.                         | CUSIP: 855244109<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | EC               | CORP              | US        |      8385 | NS      | $706100.85    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Synopsys Inc                   | Synopsys, Inc.                          | CUSIP: 871607107<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | EC               | CORP              | US        |      1370 | NS      | $643516.40    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Warner Bros Discovery Inc      | Warner Bros Discovery, Inc.             | CUSIP: 934423104<br>LEI: 5493006ZCRFWKF6B1K26 | Long             | EC               | CORP              | US        |     18273 | NS      | $526627.86    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Airbnb Inc                     | Airbnb, Inc.                            | CUSIP: 009066101<br>LEI: 549300HMUDNO0RY56D37 | Long             | EC               | CORP              | US        |      3136 | NS      | $425617.92    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Fastenal Co                    | Fastenal Co.                            | CUSIP: 311900104<br>LEI: 529900PP0C7H2HHPSJ32 | Long             | EC               | CORP              | US        |      8466 | NS      | $339740.58    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Thomson Reuters Corp           | Thomson Reuters Corp.                   | CUSIP: 884903808<br>LEI: 549300561UZND4C7B569 | Long             | EC               | CORP              | US        |      3280 | NS      | $432599.20    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| IDEXX Laboratories Inc         | IDEXX Laboratories, Inc.                | CUSIP: 45168D104<br>LEI: OGMTXK0LUU1HKV2P0J84 | Long             | EC               | CORP              | US        |       589 | NS      | $398476.17    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Cadence Design Systems Inc     | Cadence Design Systems, Inc.            | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |      2007 | NS      | $627348.06    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Costco Wholesale Corp          | Costco Wholesale Corp.                  | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |      3268 | NS      | $2818127.12   | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Lam Research Corp              | Lam Research Corp.                      | CUSIP: 512807306<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |      9263 | NS      | $1585640.34   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Europacific Partners | Coca-Cola Europacific Partners plc      | CUSIP: N/A<br>LEI: 549300LTH67W4GWMRF57       | Long             | EC               | CORP              | US        |      3379 | NS      | $306475.30    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                  | U.S. Treasury Bills                     | CUSIP: 912797PV3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    400000 | PA      | $397021.95    | 0.26%             | 2026-03-19      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ARM Holdings PLC               | ARM Holdings plc                        | CUSIP: 042068205<br>LEI: 2138001E66EELTE7Y904 | Long             | EC               | CORP              | GB        |      1020 | NS      | $111496.20    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| PDD Holdings Inc               | PDD Holdings, Inc.                      | CUSIP: 722304102<br>LEI: 5493000573DS7005T657 | Long             | EC               | CORP              | KY        |      4925 | NS      | $558445.75    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| KLA Corp                       | KLA Corp.                               | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               | CORP              | US        |       969 | NS      | $1177412.52   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Workday Inc                    | Workday, Inc.                           | CUSIP: 98138H101<br>LEI: 549300J0DYC0N31V7G13 | Long             | EC               | CORP              | US        |      1571 | NS      | $337419.38    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Marriott International Inc/MD  | Marriott International, Inc.            | CUSIP: 571903202<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | EC               | CORP              | US        |      1979 | NS      | $613964.96    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Palantir Technologies Inc      | Palantir Technologies, Inc.             | CUSIP: 69608A108<br>LEI: 549300UVN46B3BBDHO85 | Long             | EC               | CORP              | US        |     16846 | NS      | $2994376.50   | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Keurig Dr Pepper Inc           | Keurig Dr Pepper, Inc.                  | CUSIP: 49271V100<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | EC               | CORP              | US        |     10019 | NS      | $280632.19    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Barclays Bank plc              | NASDAQ-100 Index                        | CUSIP: N/A<br>LEI: G5GSEF7VJP5I7OUK5573       | N/A              | DE               |  | US        |       292 | NC      | $74083.56     | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Seagate Technology Holdings PL | Seagate Technology Holdings plc         | CUSIP: N/A<br>LEI: 635400RUXIFEZSRU8X70       | Long             | EC               | CORP              | US        |      1575 | NS      | $433739.25    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| CSX Corp                       | CSX Corp.                               | CUSIP: 126408103<br>LEI: 549300JVQR4N1MMP3Q88 | Long             | EC               | CORP              | US        |     13732 | NS      | $497785.00    | 0.33%             |  |  |  | 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        |   2187884 | PA      | $2187883.99   | 1.45%             |  |  |  | No            |                  2 | On Loan: No      |
| Microchip Technology Inc       | Microchip Technology, Inc.              | CUSIP: 595017104<br>LEI: 5493007PTFULNYZJ1R12 | Long             | EC               | CORP              | US        |      3985 | NS      | $253924.20    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Shopify Inc                    | Shopify, Inc.                           | CUSIP: 82509L107<br>LEI: 549300HGQ43STJLLP808 | Long             | EC               | CORP              | US        |      9015 | NS      | $1451144.55   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| American Electric Power Co Inc | American Electric Power Company, Inc.   | CUSIP: 025537101<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | EC               | CORP              | US        |      3939 | NS      | $454206.09    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Netflix Inc                    | Netflix, Inc.                           | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |     31248 | NS      | $2929812.48   | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Regeneron Pharmaceuticals Inc  | Regeneron Pharmaceuticals, Inc.         | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               | CORP              | US        |       762 | NS      | $588164.94    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuitive Surgical Inc         | Intuitive Surgical, Inc.                | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |      2614 | NS      | $1480465.04   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Axon Enterprise Inc            | Axon Enterprise, Inc.                   | CUSIP: 05464C101<br>LEI: 549300QP2IEEGFE16681 | Long             | EC               | CORP              | US        |       582 | NS      | $330535.26    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Booking Holdings Inc           | Booking Holdings, Inc.                  | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |       238 | NS      | $1274568.54   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Cintas Corp                    | Cintas Corp.                            | CUSIP: 172908105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2964 | NS      | $557439.48    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Ross Stores Inc                | Ross Stores, Inc.                       | CUSIP: 778296103<br>LEI: 549300ENZFLPGRDFZQ60 | Long             | EC               | CORP              | US        |      2398 | NS      | $431975.72    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Datadog Inc                    | Datadog, Inc.                           | CUSIP: 23804L103<br>LEI: 549300F6JNO0KRPO1K63 | Long             | EC               | CORP              | US        |      2400 | NS      | $326376.00    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Xcel Energy Inc                | Xcel Energy, Inc.                       | CUSIP: 98389B100<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | EC               | CORP              | US        |      4362 | NS      | $322177.32    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corp                   | Comcast Corp.                           | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |     26802 | NS      | $801111.78    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuit Inc                     | Intuit, Inc.                            | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |      2052 | NS      | $1359285.84   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Dexcom Inc                     | Dexcom, Inc.                            | CUSIP: 252131107<br>LEI: 549300YSK3QDSFR5EU59 | Long             | EC               | CORP              | US        |      2876 | NS      | $190880.12    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| PayPal Holdings Inc            | PayPal Holdings, Inc.                   | CUSIP: 70450Y103<br>LEI: 5493005X2GO78EFZ3E94 | Long             | EC               | CORP              | US        |      6900 | NS      | $402822.00    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Amgen Inc                      | Amgen, Inc.                             | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |      3971 | NS      | $1299748.01   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| GE HealthCare Technologies Inc | GE HealthCare Technologies, Inc.        | CUSIP: 36266G107<br>LEI: 549300OI9J7XOWZMUN85 | Long             | EC               | CORP              | US        |      3359 | NS      | $275505.18    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Adobe Inc                      | Adobe, Inc.                             | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |      3087 | NS      | $1080419.13   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Electronic Arts Inc            | Electronic Arts, Inc.                   | CUSIP: 285512109<br>LEI: 549300O7A67PUEYKDL45 | Long             | EC               | CORP              | US        |      1844 | NS      | $376784.52    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Baker Hughes Co                | Baker Hughes Co.                        | CUSIP: 05722G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7277 | NS      | $331394.58    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Monolithic Power Systems Inc   | Monolithic Power Systems, Inc.          | CUSIP: 609839105<br>LEI: 529900TB7O85LSZ1XU31 | Long             | EC               | CORP              | US        |       353 | NS      | $319945.08    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| AppLovin Corp                  | AppLovin Corp.                          | CUSIP: 03831W108<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | EC               | CORP              | US        |      2268 | NS      | $1528223.76   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs International    | NASDAQ-100 Index                        | CUSIP: N/A<br>LEI: W22LROWP2IHZNBB6K528       | N/A              | DE               |  | US        |       174 | NC      | $160479.21    | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Gilead Sciences Inc            | Gilead Sciences, Inc.                   | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |      9149 | NS      | $1122948.26   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp                 | Microsoft Corp.                         | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     19853 | NS      | $9601307.86   | 6.38%             |  |  |  | No            |                  1 | On Loan: No      |
| CoStar Group Inc               | CoStar Group, Inc.                      | CUSIP: 22160N109<br>LEI: 984500Q1D53D08E2E698 | Long             | EC               | CORP              | US        |      3125 | NS      | $210125.00    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| DoorDash Inc                   | DoorDash, Inc.                          | CUSIP: 25809K105<br>LEI: 549300NUQ43FGGSK5051 | Long             | EC               | CORP              | US        |      2996 | NS      | $678534.08    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Automatic Data Processing Inc  | Automatic Data Processing, Inc.         | CUSIP: 053015103<br>LEI: HGBOLILQXWER4SAL2I23 | Long             | EC               | CORP              | US        |      2983 | NS      | $767317.09    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Materials Inc          | Applied Materials, Inc.                 | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |      5875 | NS      | $1509816.25   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Micron Technology Inc          | Micron Technology, Inc.                 | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |      8298 | NS      | $2368332.18   | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Monster Beverage Corp          | Monster Beverage Corp.                  | CUSIP: 61174X109<br>LEI: 52990090AP0E7HCB6F33 | Long             | EC               | CORP              | US        |      7205 | NS      | $552407.35    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Roper Technologies Inc         | Roper Technologies, Inc.                | CUSIP: 776696106<br>LEI: 54930003T4SXCIWVXY35 | Long             | EC               | CORP              | US        |       794 | NS      | $353433.22    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortinet Inc                   | Fortinet, Inc.                          | CUSIP: 34959E109<br>LEI: 549300O0QJWDBAS0QX03 | Long             | EC               | CORP              | US        |      5484 | NS      | $435484.44    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Kraft Heinz Co/The             | Kraft Heinz Co.                         | CUSIP: 500754106<br>LEI: 9845007488EC87F5AF14 | Long             | EC               | CORP              | US        |      8729 | NS      | $211678.25    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Charter Communications Inc     | Charter Communications, Inc.            | CUSIP: 16119P108<br>LEI: 0J0XRGZE3PBRFEZ7MV65 | Long             | EC               | CORP              | US        |       954 | NS      | $199147.50    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Zscaler Inc                    | Zscaler, Inc.                           | CUSIP: 98980G102<br>LEI: 529900MZ0RTK1BWRNF46 | Long             | EC               | CORP              | US        |      1176 | NS      | $264505.92    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Honeywell International Inc    | Honeywell International, Inc.           | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |      4682 | NS      | $913411.38    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Solstice Advanced Materials In | Solstice Advanced Materials, Inc.       | CUSIP: 83443Q103<br>LEI: 2138004GZ4H9TW6HK435 | Long             | EC               | CORP              | US        |         0 | NS      | $12.15        | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Intel Corp                     | Intel Corp.                             | CUSIP: 458140100<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | EC               | CORP              | US        |     35176 | NS      | $1297994.40   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp                    | NVIDIA Corp.                            | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |     64910 | NS      | $12105715.00  | 8.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                 | Amazon.com, Inc.                        | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     28556 | NS      | $6591295.92   | 4.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Take-Two Interactive Software  | Take-Two Interactive Software, Inc.     | CUSIP: 874054109<br>LEI: BOMSTHHJK882EWYX3334 | Long             | EC               | CORP              | US        |      1362 | NS      | $348712.86    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Energy Corp      | Constellation Energy Corp.              | CUSIP: 21037T109<br>LEI: 549300F8Y20RYGNGV346 | Long             | EC               | CORP              | US        |      2302 | NS      | $813227.54    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Verisk Analytics Inc           | Verisk Analytics, Inc.                  | CUSIP: 92345Y106<br>LEI: 549300I1YSWNIRKBWP67 | Long             | EC               | CORP              | US        |      1028 | NS      | $229953.32    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| PepsiCo Inc                    | PepsiCo, Inc.                           | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |     10083 | NS      | $1447112.16   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Insmed Inc                     | Insmed, Inc.                            | CUSIP: 457669307<br>LEI: 529900Q55QAG41CCAC11 | Long             | EC               | CORP              | US        |      1573 | NS      | $273764.92    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| O'Reilly Automotive Inc        | O'Reilly Automotive, Inc.               | CUSIP: 67103H107<br>LEI: 549300K2RLMQL149Q332 | Long             | EC               | CORP              | US        |      6225 | NS      | $567782.25    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| BOFA SECURITIES, INC.          | BofA Securities, Inc.                   | CUSIP: N/A<br>LEI: 549300HN4UKV1E2R3U73       | Long             | RA               | CORP              | US        |   2187884 | PA      | $2187884.00   | 1.45%             |  |  |  | No            |                  2 | On Loan: No      |
| Old Dominion Freight Line Inc  | Old Dominion Freight Line, Inc.         | CUSIP: 679580100<br>LEI: 5299009TWK32WE417T96 | Long             | EC               | CORP              | US        |      1542 | NS      | $241785.60    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems Inc              | Cisco Systems, Inc.                     | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |     29137 | NS      | $2244423.11   | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Linde PLC                      | Linde plc                               | CUSIP: N/A<br>LEI: 5299003QR1WT0EF88V51       | Long             | EC               | CORP              | US        |      3443 | NS      | $1468060.77   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| NXP Semiconductors NV          | NXP Semiconductor N.V.                  | CUSIP: N/A<br>LEI: 724500M9BY5293JDF951       | Long             | EC               | CORP              | US        |      1856 | NS      | $402863.36    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Mondelez International Inc     | Mondelez International, Inc.            | CUSIP: 609207105<br>LEI: 549300DV9GIB88LZ5P30 | Long             | EC               | CORP              | US        |      9516 | NS      | $512246.28    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange    | NASDAQ-100 Index Mini Futures Contracts | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       262 | NC      | $-116120.00   | -0.08%            |  |  |  | No            |                  1 | On Loan: No      |
| AstraZeneca PLC                | AstraZeneca plc                         | CUSIP: 046353108<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |      4304 | NS      | $395666.72    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM Inc                   | QUALCOMM, Inc.                          | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |      7898 | NS      | $1350952.90   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Cognizant Technology Solutions | Cognizant Technology Solutions Corp.    | CUSIP: 192446102<br>LEI: 5493006IEVQEFQO40L83 | Long             | EC               | CORP              | US        |      3559 | NS      | $295397.00    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Ferrovial SE                   | Ferrovial SE                            | CUSIP: N/A<br>LEI: 72450022R2ZFL41Y6I04       | Long             | EC               | CORP              | US        |      5411 | NS      | $349604.71    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP Paribas                    | NASDAQ-100 Index                        | CUSIP: N/A<br>LEI: R0MUWSFPU8MPRO8K5P83       | N/A              | DE               |  | US        |       747 | NC      | $380453.32    | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Paychex Inc                    | Paychex, Inc.                           | CUSIP: 704326107<br>LEI: 529900K900DW6SUBM174 | Long             | EC               | CORP              | US        |      2654 | NS      | $297725.72    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                   | Broadcom, Inc.                          | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |     12614 | NS      | $4365705.40   | 2.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Copart Inc                     | Copart, Inc.                            | CUSIP: 217204106<br>LEI: 549300KVYX3JWMYEHU61 | Long             | EC               | CORP              | US        |      7139 | NS      | $279491.85    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| T-Mobile US Inc                | T-Mobile US, Inc.                       | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |      8248 | NS      | $1674673.92   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Western Digital Corp           | Western Digital Corp.                   | CUSIP: 958102105<br>LEI: 549300QQXOOYEF89IC56 | Long             | EC               | CORP              | US        |      2521 | NS      | $434292.67    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Analog Devices Inc             | Analog Devices, Inc.                    | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |      3611 | NS      | $979303.20    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                  | U.S. Treasury Bills                     | CUSIP: 912797SS7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4000000 | PA      | $3979193.36   | 2.64%             | 2026-02-24      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TREASURY BILL                  | U.S. Treasury Bills                     | CUSIP: 912797PD3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   8675000 | PA      | $8657874.94   | 5.75%             | 2026-01-22      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Strategy Inc                   | Strategy, Inc.                          | CUSIP: 594972408<br>LEI: 549300WQTWEJUEHXQX21 | Long             | EC               | CORP              | US        |      1974 | NS      | $299949.30    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertex Pharmaceuticals Inc     | Vertex Pharmaceuticals, Inc.            | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               | CORP              | US        |      1871 | NS      | $848236.56    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| MercadoLibre Inc               | MercadoLibre, Inc.                      | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | US        |       374 | NS      | $753333.24    | 0.50%             |  |  |  | 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