# EDGAR Filing Document

**Accession Number:** 0001064046
**File Stem:** 0001752724-23-045243
**Filing Date:** 2023-2
**Character Count:** 9473
**Document Hash:** 9a909410a97ae78030effd876dbdc254
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-045243.hdr.sgml**: 20230228

**ACCESSION NUMBER**: 0001752724-23-045243

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230228

**DATE AS OF CHANGE**: 20230228

**PERIOD START**: 20221231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** RYDEX VARIABLE TRUST
- **CENTRAL INDEX KEY:** 0001064046
- **IRS NUMBER:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08821
- **FILM NUMBER:** 23680570

**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

### Russell 2000(R) 2x Strategy Fund (Series ID: S000011813)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000032290 | 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:** Russell 2000 2x Strategy Fund

- **b. EDGAR series identifier (if any):** S000011813

- **c. LEI of Series:** 5493003Y5L8MOKY2XN94

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

- **a. Date of fiscal year-end:** 2022-12-31

- **b. Date as of which information is reported:** 2022-12-31

**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:** $1976095.09

**Total Liabilities:** $456743.21

**Net Assets:** $1519351.88

**Cash Not Reported:** $100632.09

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000032290 | 21.65%               | 3.40%                | -13.42%              |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $34292.07                                  |
| Month 2  | $0.00                    | $7282.77                                   |
| Month 3  | $55.98                   | $-23981.45                                 |

**Designated Index Information**

- **Index Name:** Russell 2000 Index

- **Index Identifier:** RS2000

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Guggenheim Partners Investment Management LLC | Guggenheim Ultra Short Duration Fund - Institutional Class | CUSIP: 40169J523<br>LEI: N/A                  | Long             | EC               | RF                | US        |         0 | NS      | $0.03         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP Paribas                                   | Russell 2000 Index                                         | CUSIP: N/A<br>LEI: R0MUWSFPU8MPRO8K5P83       | N/A              | DE               |  | US        |       272 | NC      | $-13663.89    | -0.90%            |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                    | J.P. Morgan Securities LLC                                 | CUSIP: N/A<br>LEI: ZBUT11V806EZRVTWT807       | Long             | RA               | CORP              | US        |    417704 | PA      | $417703.82    | 27.49%            |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC.                         | Barclays Capital, Inc.                                     | CUSIP: N/A<br>LEI: AC28XWWI3WIBK2824319       | Long             | RA               | CORP              | US        |    160158 | PA      | $160157.76    | 10.54%            |  |  |  | No            |                  2 | On Loan: No      |
| Tobira Therapeutics Inc                       | Tobira Therapeutics, Inc.                                  | CUSIP: N/A<br>LEI: N/A                        | Long             |  | CORP              | IE        |         7 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Goldman Sachs International                   | Russell 2000 Index                                         | CUSIP: N/A<br>LEI: W22LROWP2IHZNBB6K528       | N/A              | DE               |  | US        |       304 | NC      | $-23492.98    | -1.55%            |  |  |  | No            |                  2 | On Loan: No      |
| Vanguard Russell 2000 ETF                     | Vanguard Russell 2000 ETF                                  | CUSIP: 92206C664<br>LEI: N/A                  | Long             | EC               | RF                | US        |      2308 | NS      | $162413.96    | 10.69%            |  |  |  | No            |                  1 | On Loan: No      |
| BOFA SECURITIES, INC.                         | BofA Securities, Inc.                                      | CUSIP: N/A<br>LEI: 549300HN4UKV1E2R3U73       | Long             | RA               | CORP              | US        |    160655 | PA      | $160655.32    | 10.57%            |  |  |  | No            |                  2 | On Loan: No      |
| First American Funds                          | First American Government Obligations Fund - Class X       | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | RF                | US        |     41852 | NS      | $41851.51     | 2.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | Russell 2000 Index Mini Futures Contracts                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         3 | NC      | $-9490.43     | -0.62%            |  |  |  | No            |                  1 | On Loan: No      |
| FED HOME LN DISCOUNT NT                       | Federal Home Loan Bank                                     | CUSIP: 313384BC2<br>LEI: 2549001DPIFGXC1TOL40 | Long             | DBT              | USGSE             | US        |    500000 | PA      | $498626.00    | 32.82%            | 2023-01-27      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TREASURY BILL                                 | U.S. Treasury Bills                                        | CUSIP: 912796XR5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    300000 | PA      | $299739.56    | 19.73%            | 2023-01-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TREASURY BILL                                 | U.S. Treasury Bills                                        | CUSIP: 912796ZK8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     65000 | PA      | $64907.01     | 4.27%             | 2023-01-17      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| iShares Russell 2000 ETF                      | iShares Russell 2000 Index ETF                             | CUSIP: 464287655<br>LEI: 549300O80OAR5VTWR172 | Long             | EC               | RF                | US        |       932 | NS      | $162503.52    | 10.70%            |  |  |  | No            |                  1 | On Loan: —       |
| UCB_CV                                        | UCB                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             |  | CORP              | US        |        13 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Barclays Bank plc                             | Russell 2000 Index                                         | CUSIP: N/A<br>LEI: G5GSEF7VJP5I7OUK5573       | N/A              | DE               |  | US        |       246 | NC      | $-31098.66    | -2.05%            |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-30

**Name of Applicant:** Rydex Variable Trust

**Signature:** Jim Howley

**Name of Signer:** Jim Howley

**Title:** CFO