# EDGAR Filing Document

**Accession Number:** 0001064046
**File Stem:** 0000913181-26-000317
**Filing Date:** 2026-3
**Character Count:** 50268
**Document Hash:** 8276c6d02ab61da25f6e4370b7950da8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000913181-26-000317.hdr.sgml**: 20260302

**ACCESSION NUMBER**: 0000913181-26-000317

**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:** 26705303

**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

### Technology Fund (Series ID: S000003722)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010391 | 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:** Technology Fund

- **b. EDGAR series identifier (if any):** S000003722

- **c. LEI of Series:** 549300780HPWSSEW7M67

**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:** $28923287.74

**Total Liabilities:** $121649.37

**Net Assets:** $28801638.37

**Cash Not Reported:** $8.96

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000010391 | 5.70%                | -4.55%               | -0.25%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-59169.50               | $1726215.26                                |
| Month 2  | $72710.98                | $-1499628.48                               |
| Month 3  | $975154.32               | $-1020003.03                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Lattice Semiconductor Corp     | Lattice Semiconductor Corp.                     | CUSIP: 518415104<br>LEI: 549300LRBBPZDQ2II567 | Long             | EC               | CORP              | US        |      1008 | NS      | $74168.64     | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| NXP Semiconductors NV          | NXP Semiconductor N.V.                          | CUSIP: N/A<br>LEI: 724500M9BY5293JDF951       | Long             | EC               | CORP              | US        |       961 | NS      | $208594.66    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Lam Research Corp              | Lam Research Corp.                              | CUSIP: 512807306<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |      2139 | NS      | $366154.02    | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc             | Meta Platforms, Inc.                            | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |      1525 | NS      | $1006637.25   | 3.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Instruments Inc          | Texas Instruments, Inc.                         | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |      1751 | NS      | $303780.99    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Enphase Energy Inc             | Enphase Energy, Inc.                            | CUSIP: 29355A107<br>LEI: 5493008U7KIGMI59Z314 | Long             | EC               | CORP              | US        |      1527 | NS      | $48940.35     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Qnity Electronics Inc          | Qnity Electronics, Inc.                         | CUSIP: 74743L100<br>LEI: 254900RSUG4J9TFFZX53 | Long             | EC               | CORP              | US        |      1238 | NS      | $101082.70    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Confluent Inc                  | Confluent, Inc.                                 | CUSIP: 20717M103<br>LEI: 254900MRZ83YWUV7SN74 | Long             | EC               | CORP              | US        |      2497 | NS      | $75509.28     | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Zebra Technologies Corp        | Zebra Technologies Corp.                        | CUSIP: 989207105<br>LEI: PO0I32GKZ3HZMMDPZZ08 | Long             | EC               | CORP              | US        |       331 | NS      | $80373.42     | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| GLOBALFOUNDRIES Inc            | GLOBALFOUNDRIES, Inc.                           | CUSIP: N/A<br>LEI: 549300BA76VK784VMX48       | Long             | EC               | CORP              | US        |      1277 | NS      | $44592.84     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| NetApp Inc                     | NetApp, Inc.                                    | CUSIP: 64110D104<br>LEI: QTX3D84DZDD5JYOCYH15 | Long             | EC               | CORP              | US        |      1002 | NS      | $107304.18    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Super Micro Computer Inc       | Super Micro Computer, Inc.                      | CUSIP: 86800U302<br>LEI: 54930022CZO1N2UGVW07 | Long             | EC               | CORP              | US        |      3106 | NS      | $90912.62     | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Palantir Technologies Inc      | Palantir Technologies, Inc.                     | CUSIP: 69608A108<br>LEI: 549300UVN46B3BBDHO85 | Long             | EC               | CORP              | US        |      2721 | NS      | $483657.75    | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| MongoDB Inc                    | MongoDB, Inc.                                   | CUSIP: 60937P106<br>LEI: 549300TPTG69WKWE1Z37 | Long             | EC               | CORP              | US        |       337 | NS      | $141435.53    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Roper Technologies Inc         | Roper Technologies, Inc.                        | CUSIP: 776696106<br>LEI: 54930003T4SXCIWVXY35 | Long             | EC               | CORP              | US        |       379 | NS      | $168704.27    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| HP Inc                         | HP, Inc.                                        | CUSIP: 40434L105<br>LEI: WHKXQACZ14C5XRO8LW03 | Long             | EC               | CORP              | US        |      4696 | NS      | $104626.88    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| ServiceNow Inc                 | ServiceNow, Inc.                                | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Long             | EC               | CORP              | US        |      1880 | NS      | $287997.20    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Dropbox Inc                    | Dropbox, Inc.                                   | CUSIP: 26210C104<br>LEI: 549300JCDF7UAR6TJR51 | Long             | EC               | CORP              | US        |      2282 | NS      | $63439.60     | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Snowflake Inc                  | Snowflake, Inc.                                 | CUSIP: 833445109<br>LEI: 254900CJNSY1K7T53Z16 | Long             | EC               | CORP              | US        |       922 | NS      | $202249.92    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsara Inc                    | Samsara, Inc.                                   | CUSIP: 79589L106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2679 | NS      | $94970.55     | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Dell Technologies Inc          | Dell Technologies, Inc.                         | CUSIP: 24703L202<br>LEI: 549300TJB5YBRUPOG437 | Long             | EC               | CORP              | US        |      1662 | NS      | $209212.56    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Wix.com Ltd                    | Wix.com Ltd.                                    | CUSIP: N/A<br>LEI: 5493008P6N29Q1AG9464       | Long             | EC               | CORP              | US        |       868 | NS      | $90176.52     | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Salesforce Inc                 | Salesforce, Inc.                                | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |      1447 | NS      | $383324.77    | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Nebius Group NV                | Nebius Group N.V.                               | CUSIP: N/A<br>LEI: 549300GGZHJ5Q1B18P93       | Long             | EC               | CORP              | US        |      1766 | NS      | $147823.03    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Cleanspark Inc                 | Cleanspark, Inc.                                | CUSIP: 18452B209<br>LEI: 254900VO7KBRJQDGY810 | Long             | EC               | CORP              | US        |      3231 | NS      | $32697.72     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Rigetti Computing Inc          | Rigetti Computing, Inc.                         | CUSIP: 76655K103<br>LEI: 52990024JHY459DH8W71 | Long             | EC               | CORP              | US        |      2676 | NS      | $59273.40     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Electronic Arts Inc            | Electronic Arts, Inc.                           | CUSIP: 285512109<br>LEI: 549300O7A67PUEYKDL45 | Long             | EC               | CORP              | US        |       859 | NS      | $175519.47    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp                    | NVIDIA Corp.                                    | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |      8926 | NS      | $1664699.00   | 5.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Micro Devices Inc     | Advanced Micro Devices, Inc.                    | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |      2112 | NS      | $452305.92    | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Semtech Corp                   | Semtech Corp.                                   | CUSIP: 816850101<br>LEI: 549300J7WUY317SW6O61 | Long             | EC               | CORP              | US        |       755 | NS      | $55635.95     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Arista Networks Inc            | Arista Networks, Inc.                           | CUSIP: 040413205<br>LEI: 635400H1WKBLOQERUU95 | Long             | EC               | CORP              | US        |      2145 | NS      | $281059.35    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Analog Devices Inc             | Analog Devices, Inc.                            | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |      1026 | NS      | $278251.20    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp                 | Microsoft Corp.                                 | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |      3016 | NS      | $1458597.92   | 5.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Astera Labs Inc                | Astera Labs, Inc.                               | CUSIP: 04626A103<br>LEI: 529900LJL8TUEGF7HG20 | Long             | EC               | CORP              | US        |       683 | NS      | $113623.88    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Trimble Inc                    | Trimble, Inc.                                   | CUSIP: 896239100<br>LEI: 549300E2MI7NSZFQWS19 | Long             | EC               | CORP              | US        |      1310 | NS      | $102638.50    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| ARM Holdings PLC               | ARM Holdings plc                                | CUSIP: 042068205<br>LEI: 2138001E66EELTE7Y904 | Long             | EC               | CORP              | GB        |      1253 | NS      | $136965.43    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Coherent Corp                  | Coherent Corp.                                  | CUSIP: 19247G107<br>LEI: 549300O5C25A0MMHHU33 | Long             | EC               | CORP              | US        |       680 | NS      | $125507.60    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Accenture PLC                  | Accenture plc                                   | CUSIP: N/A<br>LEI: 5493000EWHDSR3MZWH98       | Long             | EC               | CORP              | US        |       615 | NS      | $165004.50    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc                      | Apple, Inc.                                     | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |      5627 | NS      | $1529756.22   | 5.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Terawulf Inc                   | Terawulf, Inc.                                  | CUSIP: 88080T104<br>LEI: 254900CVMW1SX2T78A64 | Long             | EC               | CORP              | US        |      3759 | NS      | $43190.91     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Western Digital Corp           | Western Digital Corp.                           | CUSIP: 958102105<br>LEI: 549300QQXOOYEF89IC56 | Long             | EC               | CORP              | US        |      1029 | NS      | $177265.83    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Okta Inc                       | Okta, Inc.                                      | CUSIP: 679295105<br>LEI: 549300N8J06I8MRHU620 | Long             | EC               | CORP              | US        |      1071 | NS      | $92609.37     | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| D-Wave Quantum Inc             | D-Wave Quantum, Inc.                            | CUSIP: 26740W109<br>LEI: 5493001U37G4PRD4GW95 | Long             | EC               | CORP              | US        |      2649 | NS      | $69271.35     | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Workday Inc                    | Workday, Inc.                                   | CUSIP: 98138H101<br>LEI: 549300J0DYC0N31V7G13 | Long             | EC               | CORP              | US        |       829 | NS      | $178052.62    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Snap Inc                       | Snap, Inc.                                      | CUSIP: 83304A106<br>LEI: 549300JNC0L6VP8A2Q35 | Long             | EC               | CORP              | US        |     10276 | NS      | $82927.32     | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Display Corp         | Universal Display Corp.                         | CUSIP: 91347P105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       313 | NS      | $36552.14     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| IBM                            | International Business Machines Corp.           | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |      1354 | NS      | $401068.34    | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| PTC Inc                        | PTC, Inc.                                       | CUSIP: 69370C100<br>LEI: 54930050SSMU8SKDJ030 | Long             | EC               | CORP              | US        |       627 | NS      | $109229.67    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Baidu Inc                      | Baidu, Inc.                                     | CUSIP: 056752108<br>LEI: 254900AL64IANZYI1E02 | Long             | EC               | CORP              | KY        |      1143 | NS      | $149344.38    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems Inc              | Cisco Systems, Inc.                             | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |      5215 | NS      | $401711.45    | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Seagate Technology Holdings PL | Seagate Technology Holdings plc                 | CUSIP: N/A<br>LEI: 635400RUXIFEZSRU8X70       | Long             | EC               | CORP              | US        |       635 | NS      | $174872.65    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Micron Technology Inc          | Micron Technology, Inc.                         | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |      1638 | NS      | $467501.58    | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Circle Internet Group Inc      | Circle Internet Group, Inc.                     | CUSIP: 172573107<br>LEI: 254900HFVVR6NPMQVN93 | Long             | EC               | CORP              | US        |      1199 | NS      | $95080.70     | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Materials Inc          | Applied Materials, Inc.                         | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |      1354 | NS      | $347964.46    | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Manhattan Associates Inc       | Manhattan Associates, Inc.                      | CUSIP: 562750109<br>LEI: 529900Q1GJP7KD52SW51 | Long             | EC               | CORP              | US        |       340 | NS      | $58925.40     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Palo Alto Networks Inc         | Palo Alto Networks, Inc.                        | CUSIP: 697435105<br>LEI: 549300QXR2YVZV231H43 | Long             | EC               | CORP              | US        |      1483 | NS      | $273168.60    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuit Inc                     | Intuit, Inc.                                    | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |       486 | NS      | $321936.12    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Check Point Software Technolog | Check Point Software Technologies Ltd.          | CUSIP: N/A<br>LEI: 2549003ZVBH73EPNS513       | Long             | EC               | CORP              | US        |       671 | NS      | $124510.76    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM Inc                   | QUALCOMM, Inc.                                  | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |      1918 | NS      | $328073.90    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Lumentum Holdings Inc          | Lumentum Holdings, Inc.                         | CUSIP: 55024U109<br>LEI: 549300JLWRRC38DWEF52 | Long             | EC               | CORP              | US        |       304 | NS      | $112051.36    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Entegris Inc                   | Entegris, Inc.                                  | CUSIP: 29362U104<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | EC               | CORP              | US        |       979 | NS      | $82480.75     | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Intel Corp                     | Intel Corp.                                     | CUSIP: 458140100<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | EC               | CORP              | US        |      8049 | NS      | $297008.10    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Celestica Inc                  | Celestica, Inc.                                 | CUSIP: 15101Q207<br>LEI: 549300J3CG5T6RZWLN53 | Long             | EC               | CORP              | US        |       358 | NS      | $105828.38    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                   | Broadcom, Inc.                                  | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |      2643 | NS      | $914742.30    | 3.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Flex Ltd                       | Flex Ltd.                                       | CUSIP: N/A<br>LEI: 549300EAQH74YHD07T53       | Long             | EC               | CORP              | US        |      1757 | NS      | $106157.94    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Synopsys Inc                   | Synopsys, Inc.                                  | CUSIP: 871607107<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | EC               | CORP              | US        |       480 | NS      | $225465.60    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Zoom Communications Inc        | Zoom Communications, Inc.                       | CUSIP: 98980L101<br>LEI: 549300T9GCHU0ODOM055 | Long             | EC               | CORP              | US        |      1387 | NS      | $119684.23    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Ciena Corp                     | Ciena Corp.                                     | CUSIP: 171779309<br>LEI: W0CZ7N0GH8UIGXDM1H41 | Long             | EC               | CORP              | US        |       573 | NS      | $134007.51    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| ROBLOX Corp                    | ROBLOX Corp.                                    | CUSIP: 771049103<br>LEI: 529900ANZDBDFU91SO19 | Long             | EC               | CORP              | US        |      2047 | NS      | $165868.41    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Cognizant Technology Solutions | Cognizant Technology Solutions Corp.            | CUSIP: 192446102<br>LEI: 5493006IEVQEFQO40L83 | Long             | EC               | CORP              | US        |      1850 | NS      | $153550.00    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Marvell Technology Inc         | Marvell Technology, Inc.                        | CUSIP: 573874104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2449 | NS      | $208116.02    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Datadog Inc                    | Datadog, Inc.                                   | CUSIP: 23804L103<br>LEI: 549300F6JNO0KRPO1K63 | Long             | EC               | CORP              | US        |      1184 | NS      | $161012.16    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Rambus Inc                     | Rambus, Inc.                                    | CUSIP: 750917106<br>LEI: 2549000211GDCQSLV833 | Long             | EC               | CORP              | US        |       635 | NS      | $58350.15     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| HubSpot Inc                    | HubSpot, Inc.                                   | CUSIP: 443573100<br>LEI: 529900BLNVEW0MVKJB37 | Long             | EC               | CORP              | US        |       280 | NS      | $112364.00    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Adobe Inc                      | Adobe, Inc.                                     | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |       829 | NS      | $290141.71    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| TE Connectivity PLC            | TE Connectivity plc                             | CUSIP: N/A<br>LEI: 6367003TB6K484NFHE54       | Long             | EC               | CORP              | US        |       585 | NS      | $133093.35    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Zscaler Inc                    | Zscaler, Inc.                                   | CUSIP: 98980G102<br>LEI: 529900MZ0RTK1BWRNF46 | Long             | EC               | CORP              | US        |       504 | NS      | $113359.68    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML Holding NV                | ASML Holding N.V.                               | CUSIP: N/A<br>LEI: 724500Y6DUVHQD6OXN27       | Long             | EC               | CORP              | US        |       188 | NS      | $201133.68    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Amphenol Corp                  | Amphenol Corp.                                  | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |      2306 | NS      | $311632.84    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Gen Digital Inc                | Gen Digital, Inc.                               | CUSIP: 668771108<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | EC               | CORP              | US        |      3476 | NS      | $94512.44     | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Crowdstrike Holdings Inc       | Crowdstrike Holdings, Inc.                      | CUSIP: 22788C105<br>LEI: 549300YBY08K9KM4HX32 | Long             | EC               | CORP              | US        |       531 | NS      | $248911.56    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Teradyne Inc                   | Teradyne, Inc.                                  | CUSIP: 880770102<br>LEI: C3X4YJ278QNZHRJULN75 | Long             | EC               | CORP              | US        |       683 | NS      | $132201.48    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Unity Software Inc             | Unity Software, Inc.                            | CUSIP: 91332U101<br>LEI: 549300D1ESJMGNQNG432 | Long             | EC               | CORP              | US        |      2023 | NS      | $89355.91     | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Monolithic Power Systems Inc   | Monolithic Power Systems, Inc.                  | CUSIP: 609839105<br>LEI: 529900TB7O85LSZ1XU31 | Long             | EC               | CORP              | US        |       137 | NS      | $124171.32    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Cloudflare Inc                 | Cloudflare, Inc.                                | CUSIP: 18915M107<br>LEI: 5493007DY18BGNLDWU14 | Long             | EC               | CORP              | US        |       990 | NS      | $195178.50    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Quantum Computing Inc          | Quantum Computing, Inc.                         | CUSIP: 74766W108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3079 | NS      | $31590.54     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Credo Technology Group Holding | Credo Technology Group Holding Ltd.             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |       806 | NS      | $115975.34    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| AppLovin Corp                  | AppLovin Corp.                                  | CUSIP: 03831W108<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | EC               | CORP              | US        |       477 | NS      | $321412.14    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Core Scientific Inc            | Core Scientific, Inc.                           | CUSIP: 21874A106<br>LEI: 5299003RGB2LAZ65RK73 | Long             | EC               | CORP              | US        |      3255 | NS      | $47392.80     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Autodesk Inc                   | Autodesk, Inc.                                  | CUSIP: 052769106<br>LEI: FRKKVKAIQEF3FCSTPG55 | Long             | EC               | CORP              | US        |       647 | NS      | $191518.47    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Riot Platforms Inc             | Riot Platforms, Inc.                            | CUSIP: 767292105<br>LEI: 5299005LKZAJQDQZDF73 | Long             | EC               | CORP              | US        |      3759 | NS      | $47626.53     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| BigBear.ai Holdings Inc        | BigBear.ai Holdings, Inc.                       | CUSIP: 08975B109<br>LEI: 549300XGCF2ELN28CS63 | Long             | EC               | CORP              | US        |      6173 | NS      | $33334.20     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Take-Two Interactive Software  | Take-Two Interactive Software, Inc.             | CUSIP: 874054109<br>LEI: BOMSTHHJK882EWYX3334 | Long             | EC               | CORP              | US        |       665 | NS      | $170259.95    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Gartner Inc                    | Gartner, Inc.                                   | CUSIP: 366651107<br>LEI: PP55B5R38BFB8O8HH686 | Long             | EC               | CORP              | US        |       424 | NS      | $106966.72    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Nutanix Inc                    | Nutanix, Inc.                                   | CUSIP: 67059N108<br>LEI: 549300X7J6E8TKVIXW09 | Long             | EC               | CORP              | US        |      1838 | NS      | $95006.22     | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| BOFA SECURITIES, INC.          | BofA Securities, Inc.                           | CUSIP: N/A<br>LEI: 549300HN4UKV1E2R3U73       | Long             | RA               | CORP              | US        |    116350 | PA      | $116349.57    | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Monday.com Ltd                 | Monday.com Ltd.                                 | CUSIP: N/A<br>LEI: 984500MDAFVD86E3B328       | Long             | EC               | CORP              | US        |       624 | NS      | $92077.44     | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Skyworks Solutions Inc         | Skyworks Solutions, Inc.                        | CUSIP: 83088M102<br>LEI: 549300WZ3ORQ2BVKBD96 | Long             | EC               | CORP              | US        |      1158 | NS      | $73428.78     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                   | Alphabet, Inc.                                  | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |      4869 | NS      | $1523997.00   | 5.29%             |  |  |  | No            |                  1 | On Loan: No      |
| IonQ Inc                       | IonQ, Inc.                                      | CUSIP: 46222L108<br>LEI: 529900RB2VEFGLQS7G28 | Long             | EC               | CORP              | US        |      1948 | NS      | $87406.76     | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| ON Semiconductor Corp          | ON Semiconductor Corp.                          | CUSIP: 682189105<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | EC               | CORP              | US        |      2088 | NS      | $113065.20    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Infosys Ltd                    | Infosys Ltd.                                    | CUSIP: 456788108<br>LEI: 335800TYLGG93MM7PR89 | Long             | EC               | CORP              | IN        |      8016 | NS      | $142845.12    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Microchip Technology Inc       | Microchip Technology, Inc.                      | CUSIP: 595017104<br>LEI: 5493007PTFULNYZJ1R12 | Long             | EC               | CORP              | US        |      2172 | NS      | $138399.84    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Twilio Inc                     | Twilio, Inc.                                    | CUSIP: 90138F102<br>LEI: 5493004W8TRGD63APX93 | Long             | EC               | CORP              | US        |       811 | NS      | $115356.64    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Jabil Inc                      | Jabil, Inc.                                     | CUSIP: 466313103<br>LEI: 5493000CGCQY2OQU7669 | Long             | EC               | CORP              | US        |       513 | NS      | $116974.26    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| F5 Inc                         | F5, Inc.                                        | CUSIP: 315616102<br>LEI: 54930015FPK9KT966303 | Long             | EC               | CORP              | US        |       364 | NS      | $92914.64     | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Match Group Inc                | Match Group, Inc.                               | CUSIP: 57667L107<br>LEI: 15OMOPB0A8K0EFUVD031 | Long             | EC               | CORP              | US        |      2062 | NS      | $66581.98     | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Motorola Solutions Inc         | Motorola Solutions, Inc.                        | CUSIP: 620076307<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | EC               | CORP              | US        |       522 | NS      | $200093.04    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Pinterest Inc                  | Pinterest, Inc.                                 | CUSIP: 72352L106<br>LEI: 529900Y043CEBGO4HB65 | Long             | EC               | CORP              | US        |      3825 | NS      | $99029.25     | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| IREN Ltd                       | IREN Ltd.                                       | CUSIP: N/A<br>LEI: 254900FZF02RB3NNGB71       | Long             | EC               | CORP              | US        |      3878 | NS      | $146472.06    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Cadence Design Systems Inc     | Cadence Design Systems, Inc.                    | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |       701 | NS      | $219118.58    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| DocuSign Inc                   | DocuSign, Inc.                                  | CUSIP: 256163106<br>LEI: 549300Q7PVDWRZ39JG09 | Long             | EC               | CORP              | US        |      1280 | NS      | $87552.00     | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Cipher Mining Inc              | Cipher Mining, Inc.                             | CUSIP: 17253J106<br>LEI: 254900QABG5HCQZ28A17 | Long             | EC               | CORP              | US        |      3589 | NS      | $52973.64     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Reddit Inc                     | Reddit, Inc.                                    | CUSIP: 75734B100<br>LEI: 529900APN1YHPBHPI679 | Long             | EC               | CORP              | US        |       674 | NS      | $154932.38    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Bentley Systems Inc            | Bentley Systems, Inc.                           | CUSIP: 08265T208<br>LEI: 549300WVEHPGE0Z56F71 | Long             | EC               | CORP              | US        |      1569 | NS      | $59880.89     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Qorvo Inc                      | Qorvo, Inc.                                     | CUSIP: 74736K101<br>LEI: 254900YAUJV2EUEVBR11 | Long             | EC               | CORP              | US        |       791 | NS      | $66847.41     | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Strategy Inc                   | Strategy, Inc.                                  | CUSIP: 594972408<br>LEI: 549300WQTWEJUEHXQX21 | Long             | EC               | CORP              | US        |      1002 | NS      | $152253.90    | 0.53%             |  |  |  | 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        |    116350 | PA      | $116349.57    | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Fortinet Inc                   | Fortinet, Inc.                                  | CUSIP: 34959E109<br>LEI: 549300O0QJWDBAS0QX03 | Long             | EC               | CORP              | US        |      2094 | NS      | $166284.54    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| CoreWeave Inc                  | CoreWeave, Inc.                                 | CUSIP: 21873S108<br>LEI: 984500511DP2B6186053 | Long             | EC               | CORP              | US        |      1712 | NS      | $122596.32    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Sandisk Corp/DE                | Sandisk Corp.                                   | CUSIP: 80004C200<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       576 | NS      | $136730.88    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Oracle Corp                    | Oracle Corp.                                    | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |      2396 | NS      | $467004.36    | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| SoundHound AI Inc              | SoundHound AI, Inc.                             | CUSIP: 836100107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4654 | NS      | $46400.38     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| GoDaddy Inc                    | GoDaddy, Inc.                                   | CUSIP: 380237107<br>LEI: 549300J8H1TB0I2CB447 | Long             | EC               | CORP              | US        |       803 | NS      | $99636.24     | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Akamai Technologies Inc        | Akamai Technologies, Inc.                       | CUSIP: 00971T101<br>LEI: OC1LZNN2LF5WTJ5RIL89 | Long             | EC               | CORP              | US        |       999 | NS      | $87162.75     | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| SAP SE                         | SAP SE                                          | CUSIP: 803054204<br>LEI: 529900D6BF99LW9R2E68 | Long             | EC               | CORP              | DE        |       570 | NS      | $138458.70    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| TSMC                           | Taiwan Semiconductor Manufacturing Company Ltd. | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |       716 | NS      | $217585.24    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| First Solar Inc                | First Solar, Inc.                               | CUSIP: 336433107<br>LEI: 549300NPYMLM4NHTOF27 | Long             | EC               | CORP              | US        |       471 | NS      | $123039.33    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| VeriSign Inc                   | VeriSign, Inc.                                  | CUSIP: 92343E102<br>LEI: LMPL4N8ZOJRMF0KOF759 | Long             | EC               | CORP              | US        |       450 | NS      | $109327.50    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| CyberArk Software Ltd          | CyberArk Software Ltd.                          | CUSIP: N/A<br>LEI: 529900YEXNDM894PWS93       | Long             | EC               | CORP              | US        |       307 | NS      | $136940.42    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| BitMine Immersion Technologies | BitMine Immersion Technologies, Inc.            | CUSIP: 09175A206<br>LEI: 254900TGJJ1D9JNAQT27 | Long             | EC               | CORP              | US        |      2649 | NS      | $71920.35     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Shopify Inc                    | Shopify, Inc.                                   | CUSIP: 82509L107<br>LEI: 549300HGQ43STJLLP808 | Long             | EC               | CORP              | US        |      1274 | NS      | $205075.78    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| MARA Holdings Inc              | MARA Holdings, Inc.                             | CUSIP: 565788106<br>LEI: 549300M8ISKPTX2W7F94 | Long             | EC               | CORP              | US        |      4439 | NS      | $39862.22     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlassian Corp                 | Atlassian Corp.                                 | CUSIP: 049468101<br>LEI: 549300V7ZY5P02D2MY38 | Long             | EC               | CORP              | US        |      1041 | NS      | $168787.74    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| CDW Corp/DE                    | CDW Corp.                                       | CUSIP: 12514G108<br>LEI: 9845001B052ABF0B6755 | Long             | EC               | CORP              | US        |       728 | NS      | $99153.60     | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Digital Corp           | Applied Digital Corp.                           | CUSIP: 038169207<br>LEI: 2549004NE2B6RYXINZ02 | Long             | EC               | CORP              | US        |      2273 | NS      | $55733.96     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Gitlab Inc                     | Gitlab, Inc.                                    | CUSIP: 37637K108<br>LEI: 9845004Y40FACG81ED49 | Long             | EC               | CORP              | US        |      1498 | NS      | $56219.94     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| KLA Corp                       | KLA Corp.                                       | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               | CORP              | US        |       257 | NS      | $312275.56    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| MKS Inc                        | MKS, Inc.                                       | CUSIP: 55306N104<br>LEI: 549300KEQATBHAGVF505 | Long             | EC               | CORP              | US        |       394 | NS      | $62961.20     | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Hewlett Packard Enterprise Co  | Hewlett Packard Enterprise Co.                  | CUSIP: 42824C109<br>LEI: 549300BX44RGX6ANDV88 | Long             | EC               | CORP              | US        |      5770 | NS      | $138595.40    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| MACOM Technology Solutions Hol | MACOM Technology Solutions Holdings, Inc.       | CUSIP: 55405Y100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       373 | NS      | $63887.44     | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| TTM Technologies Inc           | TTM Technologies, Inc.                          | CUSIP: 87305R109<br>LEI: 549300SC4BDOIS008048 | Long             | EC               | CORP              | US        |       865 | NS      | $59685.00     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Corning Inc                    | Corning, Inc.                                   | CUSIP: 219350105<br>LEI: 549300X2937PB0CJ7I56 | Long             | EC               | CORP              | US        |      2196 | NS      | $192281.76    | 0.67%             |  |  |  | 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