# EDGAR Filing Document

**Accession Number:** 0001064046
**File Stem:** 0001752724-23-045177
**Filing Date:** 2023-2
**Character Count:** 19066
**Document Hash:** 7990a1ff46c0fca113842e10973602bf
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-045177.hdr.sgml**: 20230228

**ACCESSION NUMBER**: 0001752724-23-045177

**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:** 23680494

**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

### Electronics Fund (Series ID: S000003713)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010382 | 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:** Electronics Fund

- **b. EDGAR series identifier (if any):** S000003713

- **c. LEI of Series:** 5493000OY0S9WKUC8M88

**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:** $10854143.75

**Total Liabilities:** $45163.67

**Net Assets:** $10808980.08

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000010382 | 2.95%                | 18.69%               | -10.56%              |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $18355.65                | $152860.85                                 |
| Month 2  | $-15611.24               | $1790695.86                                |
| Month 3  | $-9783.31                | $-1295934.61                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| QUALCOMM Inc                 | QUALCOMM, Inc.                                       | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |      4785 | NS      | $526062.90    | 4.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Ambarella Inc                | Ambarella, Inc.                                      | CUSIP: N/A<br>LEI: 254900XN7F4DG0CEKC02       | Long             | EC               | CORP              | US        |      1080 | NS      | $88808.40     | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Skyworks Solutions Inc       | Skyworks Solutions, Inc.                             | CUSIP: 83088M102<br>LEI: 549300WZ3ORQ2BVKBD96 | Long             | EC               | CORP              | US        |      2003 | NS      | $182533.39    | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Funds         | First American Government Obligations Fund - Class X | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | RF                | US        |    191273 | NS      | $191272.91    | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Micro Devices Inc   | Advanced Micro Devices, Inc.                         | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |      7728 | NS      | $500542.56    | 4.63%             |  |  |  | No            |                  1 | On Loan: No      |
| MaxLinear Inc                | MaxLinear, Inc.                                      | CUSIP: 57776J100<br>LEI: 549300EMOI0SM2IY4F64 | Long             | EC               | CORP              | US        |      2344 | NS      | $79578.80     | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Enphase Energy Inc           | Enphase Energy, Inc.                                 | CUSIP: 29355A107<br>LEI: 5493008U7KIGMI59Z314 | Long             | EC               | CORP              | US        |      1036 | NS      | $274498.56    | 2.54%             |  |  |  | No            |                  1 | On Loan: No      |
| First Solar Inc              | First Solar, Inc.                                    | CUSIP: 336433107<br>LEI: 549300NPYMLM4NHTOF27 | Long             | EC               | CORP              | US        |      1342 | NS      | $201018.18    | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Amkor Technology Inc         | Amkor Technology, Inc.                               | CUSIP: 031652100<br>LEI: 529900VHLRTKPWZJBM84 | Long             | EC               | CORP              | US        |      4775 | NS      | $114504.50    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Intel Corp                   | Intel Corp.                                          | CUSIP: 458140100<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | EC               | CORP              | US        |     18982 | NS      | $501694.26    | 4.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                 | Broadcom, Inc.                                       | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |      1369 | NS      | $765448.97    | 7.08%             |  |  |  | No            |                  1 | On Loan: No      |
| SolarEdge Technologies Inc   | SolarEdge Technologies, Inc.                         | CUSIP: 83417M104<br>LEI: 5493000K6Y58XXPDF853 | Long             | EC               | CORP              | US        |       574 | NS      | $162596.98    | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| SiTime Corp                  | SiTime Corp.                                         | CUSIP: 82982T106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       694 | NS      | $70524.28     | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Qorvo Inc                    | Qorvo, Inc.                                          | CUSIP: 74736K101<br>LEI: 254900YAUJV2EUEVBR11 | Long             | EC               | CORP              | US        |      1567 | NS      | $142032.88    | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Micron Technology Inc        | Micron Technology, Inc.                              | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |      6840 | NS      | $341863.20    | 3.16%             |  |  |  | No            |                  1 | On Loan: No      |
| TSMC                         | Taiwan Semiconductor Manufacturing Company Ltd.      | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |      4549 | NS      | $338855.01    | 3.13%             |  |  |  | No            |                  1 | On Loan: No      |
| BOFA SECURITIES, INC.        | BofA Securities, Inc.                                | CUSIP: N/A<br>LEI: 549300HN4UKV1E2R3U73       | Long             | RA               | CORP              | US        |     16466 | PA      | $16465.74     | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| ON Semiconductor Corp        | ON Semiconductor Corp.                               | CUSIP: 682189105<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | EC               | CORP              | US        |      3818 | NS      | $238128.66    | 2.20%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp                  | NVIDIA Corp.                                         | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |      5922 | NS      | $865441.08    | 8.01%             |  |  |  | No            |                  1 | On Loan: No      |
| NXP Semiconductors NV        | NXP Semiconductor N.V.                               | CUSIP: N/A<br>LEI: 724500M9BY5293JDF951       | Long             | EC               | CORP              | US        |      1676 | NS      | $264858.28    | 2.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Wolfspeed Inc                | Wolfspeed, Inc.                                      | CUSIP: 977852102<br>LEI: 549300OGU88P3AW3TO93 | Long             | EC               | CORP              | US        |      1872 | NS      | $129242.88    | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| GLOBALFOUNDRIES Inc          | GLOBALFOUNDRIES, Inc.                                | CUSIP: N/A<br>LEI: 549300BA76VK784VMX48       | Long             | EC               | CORP              | US        |      4609 | NS      | $248379.01    | 2.30%             |  |  |  | No            |                  1 | On Loan: —       |
| Microchip Technology Inc     | Microchip Technology, Inc.                           | CUSIP: 595017104<br>LEI: 5493007PTFULNYZJ1R12 | Long             | EC               | CORP              | US        |      4164 | NS      | $292521.00    | 2.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Semtech Corp                 | Semtech Corp.                                        | CUSIP: 816850101<br>LEI: 549300J7WUY317SW6O61 | Long             | EC               | CORP              | US        |      2314 | NS      | $66388.66     | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Lattice Semiconductor Corp   | Lattice Semiconductor Corp.                          | CUSIP: 518415104<br>LEI: 549300LRBBPZDQ2II567 | Long             | EC               | CORP              | US        |      2136 | NS      | $138583.68    | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Cirrus Logic Inc             | Cirrus Logic, Inc.                                   | CUSIP: 172755100<br>LEI: 549300NKSJEM5ZZSSV18 | Long             | EC               | CORP              | US        |      1271 | NS      | $94664.08     | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| SunPower Corp                | SunPower Corp.                                       | CUSIP: 867652406<br>LEI: 549300TXO070764WUH65 | Long             | EC               | CORP              | US        |      4509 | NS      | $81297.27     | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Instruments Inc        | Texas Instruments, Inc.                              | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |      3539 | NS      | $584713.58    | 5.41%             |  |  |  | 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        |     42811 | PA      | $42810.94     | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Applied Materials Inc        | Applied Materials, Inc.                              | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |      4333 | NS      | $421947.54    | 3.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Teradyne Inc                 | Teradyne, Inc.                                       | CUSIP: 880770102<br>LEI: C3X4YJ278QNZHRJULN75 | Long             | EC               | CORP              | US        |      1976 | NS      | $172603.60    | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Marvell Technology Inc       | Marvell Technology, Inc.                             | CUSIP: 573874104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7315 | NS      | $270947.60    | 2.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Lam Research Corp            | Lam Research Corp.                                   | CUSIP: 512807108<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |       855 | NS      | $359356.50    | 3.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Azenta Inc                   | Azenta, Inc.                                         | CUSIP: 114340102<br>LEI: 35ZN6X1ANPH25YN32Y17 | Long             | EC               | CORP              | US        |      1740 | NS      | $101302.80    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Display Corp       | Universal Display Corp.                              | CUSIP: 91347P105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       982 | NS      | $106095.28    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Analog Devices Inc           | Analog Devices, Inc.                                 | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |      2683 | NS      | $440092.49    | 4.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Power Integrations Inc       | Power Integrations, Inc.                             | CUSIP: 739276103<br>LEI: 54930085LGXSCIHD5W31 | Long             | EC               | CORP              | US        |      1376 | NS      | $98686.72     | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Entegris Inc                 | Entegris, Inc.                                       | CUSIP: 29362U104<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | EC               | CORP              | US        |      2305 | NS      | $151184.95    | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Daqo New Energy Corp         | Daqo New Energy Corp.                                | CUSIP: 23703Q203<br>LEI: 529900711JBZ5O7VA827 | Long             | EC               | CORP              | KY        |      3115 | NS      | $120270.15    | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| KLA Corp                     | KLA Corp.                                            | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               | CORP              | US        |       921 | NS      | $347244.63    | 3.21%             |  |  |  | No            |                  1 | On Loan: No      |
| MKS Instruments Inc          | MKS Instruments, Inc.                                | CUSIP: 55306N104<br>LEI: 549300KEQATBHAGVF505 | Long             | EC               | CORP              | US        |      1395 | NS      | $118198.35    | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| BARCLAYS CAPITAL INC.        | Barclays Capital, Inc.                               | CUSIP: N/A<br>LEI: AC28XWWI3WIBK2824319       | Long             | RA               | CORP              | US        |     16415 | PA      | $16414.75     | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Synaptics Inc                | Synaptics, Inc.                                      | CUSIP: 87157D109<br>LEI: 549300AJ3LI4FWNRQX29 | Long             | EC               | CORP              | US        |       971 | NS      | $92400.36     | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Silicon Laboratories Inc     | Silicon Laboratories, Inc.                           | CUSIP: 826919102<br>LEI: 4PRDF8Q9TDHRVZKZSZ47 | Long             | EC               | CORP              | US        |       736 | NS      | $99853.12     | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Monolithic Power Systems Inc | Monolithic Power Systems, Inc.                       | CUSIP: 609839105<br>LEI: 529900TB7O85LSZ1XU31 | Long             | EC               | CORP              | US        |       540 | NS      | $190949.40    | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| STMicroelectronics NV        | STMicroelectronics N.V.                              | CUSIP: 861012102<br>LEI: 213800Z8NOHIKRI42W10 | Long             | EC               | CORP              | NL        |      4540 | NS      | $161487.80    | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML Holding NV              | ASML Holding N.V.                                    | CUSIP: N/A<br>LEI: 724500Y6DUVHQD6OXN27       | Long             | EC               | CORP              | NL        |       412 | NS      | $225116.80    | 2.08%             |  |  |  | No            |                  1 | 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