# EDGAR Filing Document

**Accession Number:** 0001064046
**File Stem:** 0000913181-26-000262
**Filing Date:** 2026-3
**Character Count:** 47819
**Document Hash:** 70bed8d413be3bf9eca42968f0bedec3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000913181-26-000262.hdr.sgml**: 20260302

**ACCESSION NUMBER**: 0000913181-26-000262

**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:** 26705240

**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

### Health Care Fund (Series ID: S000003717)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010386 | 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:** Health Care Fund

- **b. EDGAR series identifier (if any):** S000003717

- **c. LEI of Series:** 5493001VKGTEDLOTHU44

**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:** $10689919.28

**Total Liabilities:** $144562.22

**Net Assets:** $10545357.06

**Cash Not Reported:** $5.79

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000010386 | 4.11%                | 7.52%                | -2.57%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1129.97                 | $418150.57                                 |
| Month 2  | $-29743.73               | $888937.21                                 |
| Month 3  | $341315.89               | $-654410.47                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Boston Scientific Corp         | Boston Scientific Corp.                        | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EC               | CORP              | US        |      1882 | NS      | $179448.70    | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Ultragenyx Pharmaceutical Inc  | Ultragenyx Pharmaceutical, Inc.                | CUSIP: 90400D108<br>LEI: 529900EV44GVDN1DCX77 | Long             | EC               | CORP              | US        |       739 | NS      | $16997.00     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Viatris Inc                    | Viatris, Inc.                                  | CUSIP: 92556V106<br>LEI: 254900ZZTSW7NL773X71 | Long             | EC               | CORP              | US        |      4673 | NS      | $58178.85     | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Sarepta Therapeutics Inc       | Sarepta Therapeutics, Inc.                     | CUSIP: 803607100<br>LEI: 549300IKDPIED8J8IG21 | Long             | EC               | CORP              | US        |      1017 | NS      | $21885.84     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Rhythm Pharmaceuticals Inc     | Rhythm Pharmaceuticals, Inc.                   | CUSIP: 76243J105<br>LEI: 529900JPNWXQ8DPLA551 | Long             | EC               | CORP              | US        |       327 | NS      | $35002.08     | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Medpace Holdings Inc           | Medpace Holdings, Inc.                         | CUSIP: 58506Q109<br>LEI: 549300H8TYEUVTW14A54 | Long             | EC               | CORP              | US        |        93 | NS      | $52233.45     | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Teva Pharmaceutical Industries | Teva Pharmaceutical Industries Ltd.            | CUSIP: 881624209<br>LEI: 549300BAFGM4RC74ZJ94 | Long             | EC               | CORP              | IL        |      2572 | NS      | $80272.12     | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| GSK PLC                        | GSK plc                                        | CUSIP: 37733W204<br>LEI: 5493000HZTVUYLO1D793 | Long             | EC               | CORP              | GB        |      1563 | NS      | $76649.52     | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| GE HealthCare Technologies Inc | GE HealthCare Technologies, Inc.               | CUSIP: 36266G107<br>LEI: 549300OI9J7XOWZMUN85 | Long             | EC               | CORP              | US        |      1053 | NS      | $86367.06     | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Insulet Corp                   | Insulet Corp.                                  | CUSIP: 45784P101<br>LEI: 549300TZTYD2PYN92D43 | Long             | EC               | CORP              | US        |       229 | NS      | $65090.96     | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Biogen Inc                     | Biogen, Inc.                                   | CUSIP: 09062X103<br>LEI: W8J5WZB5IY3K0NDQT671 | Long             | EC               | CORP              | US        |       429 | NS      | $75499.71     | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Revvity Inc                    | Revvity, Inc.                                  | CUSIP: 714046109<br>LEI: 549300IKL1SDPFI7N655 | Long             | EC               | CORP              | US        |       490 | NS      | $47407.50     | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Cardinal Health Inc            | Cardinal Health, Inc.                          | CUSIP: 14149Y108<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | EC               | CORP              | US        |       509 | NS      | $104599.50    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc         | UnitedHealth Group, Inc.                       | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |       753 | NS      | $248572.83    | 2.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Incyte Corp                    | Incyte Corp.                                   | CUSIP: 45337C102<br>LEI: 549300Z4WN6JVZ3T4680 | Long             | EC               | CORP              | US        |       609 | NS      | $60150.93     | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Arrowhead Pharmaceuticals Inc  | Arrowhead Pharmaceuticals, Inc.                | CUSIP: 04280A100<br>LEI: 549300O3CSB8T7OZ3D66 | Long             | EC               | CORP              | US        |       623 | NS      | $41360.97     | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| West Pharmaceutical Services I | West Pharmaceutical Services, Inc.             | CUSIP: 955306105<br>LEI: 5493007NKRGM1RJQ1P16 | Long             | EC               | CORP              | US        |       239 | NS      | $65758.46     | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Madrigal Pharmaceuticals Inc   | Madrigal Pharmaceuticals, Inc.                 | CUSIP: 558868105<br>LEI: 549300CHIMT2EUSNJB60 | Long             | EC               | CORP              | US        |        68 | NS      | $39599.12     | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Option Care Health Inc         | Option Care Health, Inc.                       | CUSIP: 68404L201<br>LEI: 549300DI3Q5ACSYJRI17 | Long             | EC               | CORP              | US        |      1024 | NS      | $32624.64     | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Ionis Pharmaceuticals Inc      | Ionis Pharmaceuticals, Inc.                    | CUSIP: 462222100<br>LEI: 549300SI4ZGLG0BLUZ92 | Long             | EC               | CORP              | US        |       654 | NS      | $51737.94     | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Merit Medical Systems Inc      | Merit Medical Systems, Inc.                    | CUSIP: 589889104<br>LEI: 549300OYTY138SP2CE83 | Long             | EC               | CORP              | US        |       381 | NS      | $33581.34     | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Hologic Inc                    | Hologic, Inc.                                  | CUSIP: 436440101<br>LEI: 549300DYP6F5ZJL0LB74 | Long             | EC               | CORP              | US        |       801 | NS      | $59666.49     | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| CRISPR Therapeutics AG         | CRISPR Therapeutics AG                         | CUSIP: N/A<br>LEI: 506700O6IRRIQLT3W370       | Long             | EC               | CORP              | US        |      1225 | NS      | $64239.00     | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson              | Johnson & Johnson                              | CUSIP: N/A<br>LEI: N/A                        | Long             |  | CORP              | US        |       307 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| HealthEquity Inc               | HealthEquity, Inc.                             | CUSIP: 42226A107<br>LEI: 529900LRJU1RAFQHM467 | Long             | EC               | CORP              | US        |       426 | NS      | $39025.86     | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Charles River Laboratories Int | Charles River Laboratories International, Inc. | CUSIP: 159864107<br>LEI: 549300BSQ0R4UZ5KX287 | Long             | EC               | CORP              | US        |       237 | NS      | $47276.76     | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Royalty Pharma PLC             | Royalty Pharma plc                             | CUSIP: N/A<br>LEI: 549300FGFN7VOK8BZR03       | Long             | EC               | CORP              | US        |      1712 | NS      | $66151.68     | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Summit Therapeutics Inc        | Summit Therapeutics, Inc.                      | CUSIP: 86627T108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1117 | NS      | $19536.33     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| RadNet Inc                     | RadNet, Inc.                                   | CUSIP: 750491102<br>LEI: 529900RECG94V2IZJ970 | Long             | EC               | CORP              | US        |       438 | NS      | $31251.30     | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Bristol-Myers Squibb Co        | Bristol-Myers Squibb Co.                       | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |      2965 | NS      | $159932.10    | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Guardant Health Inc            | Guardant Health, Inc.                          | CUSIP: 40131M109<br>LEI: 254900M8C3E5VC8BR186 | Long             | EC               | CORP              | US        |       517 | NS      | $52806.38     | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Thermo Fisher Scientific Inc   | Thermo Fisher Scientific, Inc.                 | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |       377 | NS      | $218452.65    | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Zimmer Biomet Holdings Inc     | Zimmer Biomet Holdings, Inc.                   | CUSIP: 98956P102<br>LEI: 2P2YLDVPES3BXQ1FRB91 | Long             | EC               | CORP              | US        |       691 | NS      | $62134.72     | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Alignment Healthcare Inc       | Alignment Healthcare, Inc.                     | CUSIP: 01625V104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1250 | NS      | $24687.50     | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Waystar Holding Corp           | Waystar Holding Corp.                          | CUSIP: 946784105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       875 | NS      | $28656.25     | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Zoetis Inc                     | Zoetis, Inc.                                   | CUSIP: 98978V103<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | EC               | CORP              | US        |       867 | NS      | $109085.94    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Alnylam Pharmaceuticals Inc    | Alnylam Pharmaceuticals, Inc.                  | CUSIP: 02043Q107<br>LEI: 529900S3ZI14OWRJII50 | Long             | EC               | CORP              | US        |       264 | NS      | $104979.60    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| TransMedics Group Inc          | TransMedics Group, Inc.                        | CUSIP: 89377M109<br>LEI: 549300060GVOSMWARH50 | Long             | EC               | CORP              | US        |       187 | NS      | $22748.55     | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Regeneron Pharmaceuticals Inc  | Regeneron Pharmaceuticals, Inc.                | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               | CORP              | US        |       171 | NS      | $131989.77    | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Acadia Healthcare Co Inc       | Acadia Healthcare Company, Inc.                | CUSIP: 00404A109<br>LEI: 5493005CW985Y9D0NC11 | Long             | EC               | CORP              | US        |      1165 | NS      | $16531.35     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Amgen Inc                      | Amgen, Inc.                                    | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |       610 | NS      | $199659.10    | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| GeneDx Holdings Corp           | GeneDx Holdings Corp.                          | CUSIP: 81663L200<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        80 | NS      | $10404.80     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| BioNTech SE                    | BioNTech SE                                    | CUSIP: 09075V102<br>LEI: 894500UZJ5LG1F8J1U58 | Long             | EC               | CORP              | DE        |       681 | NS      | $64831.20     | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Elanco Animal Health Inc       | Elanco Animal Health, Inc.                     | CUSIP: 28414H103<br>LEI: 549300SHPNDCE059M934 | Long             | EC               | CORP              | US        |      2226 | NS      | $50374.38     | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Lantheus Holdings Inc          | Lantheus Holdings, Inc.                        | CUSIP: 516544103<br>LEI: 5299005HUB5IOJGO7S39 | Long             | EC               | CORP              | US        |       471 | NS      | $31345.05     | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Agilent Technologies Inc       | Agilent Technologies, Inc.                     | CUSIP: 00846U101<br>LEI: QUIX8Y7A2WP0XRMW7G29 | Long             | EC               | CORP              | US        |       661 | NS      | $89942.27     | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Edwards Lifesciences Corp      | Edwards Lifesciences Corp.                     | CUSIP: 28176E108<br>LEI: YA13X31F3V31L8TMPR58 | Long             | EC               | CORP              | US        |      1228 | NS      | $104687.00    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Insmed Inc                     | Insmed, Inc.                                   | CUSIP: 457669307<br>LEI: 529900Q55QAG41CCAC11 | Long             | EC               | CORP              | US        |       482 | NS      | $83887.28     | 0.80%             |  |  |  | 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        |     92726 | PA      | $92726.28     | 0.88%             |  |  |  | No            |                  2 | On Loan: No      |
| Natera Inc                     | Natera, Inc.                                   | CUSIP: 632307104<br>LEI: 529900CQ3OZ0A0VYVU59 | Long             | EC               | CORP              | US        |       358 | NS      | $82014.22     | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| iRhythm Technologies Inc       | iRhythm Technologies, Inc.                     | CUSIP: 450056106<br>LEI: 549300FJI72RJGDQS384 | Long             | EC               | CORP              | US        |       141 | NS      | $25019.04     | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Tenet Healthcare Corp          | Tenet Healthcare Corp.                         | CUSIP: 88033G407<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | EC               | CORP              | US        |       310 | NS      | $61603.20     | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Cytokinetics Inc               | Cytokinetics, Inc.                             | CUSIP: 23282W605<br>LEI: 549300BE5DY1HW7IHA64 | Long             | EC               | CORP              | US        |       661 | NS      | $41999.94     | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Veeva Systems Inc              | Veeva Systems, Inc.                            | CUSIP: 922475108<br>LEI: 549300YZEXPDB92M2F02 | Long             | EC               | CORP              | US        |       375 | NS      | $83711.25     | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Novo Nordisk A/S               | Novo Nordisk A/S                               | CUSIP: 670100205<br>LEI: 549300DAQ1CVT6CXN342 | Long             | EC               | CORP              | DK        |      1946 | NS      | $99012.48     | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Exelixis Inc                   | Exelixis, Inc.                                 | CUSIP: 30161Q104<br>LEI: 254900PJQB59O2O95R37 | Long             | EC               | CORP              | US        |      1162 | NS      | $50930.46     | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Sanofi SA                      | Sanofi SA                                      | CUSIP: N/A<br>LEI: N/A                        | Long             |  | CORP              | FR        |       313 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Exact Sciences Corp            | Exact Sciences Corp.                           | CUSIP: 30063P105<br>LEI: 549300VM3X1FYD4N9Z14 | Long             | EC               | CORP              | US        |       631 | NS      | $64084.36     | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Protagonist Therapeutics Inc   | Protagonist Therapeutics, Inc.                 | CUSIP: 74366E102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       378 | NS      | $33014.52     | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Tempus AI Inc                  | Tempus AI, Inc.                                | CUSIP: 88023B103<br>LEI: 2549009LA0KWRAGQBX50 | Long             | EC               | CORP              | US        |       586 | NS      | $34603.30     | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Hims & Hers Health Inc         | Hims & Hers Health, Inc.                       | CUSIP: 433000106<br>LEI: 254900V041EIVTSB6D58 | Long             | EC               | CORP              | US        |      1119 | NS      | $36333.93     | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Soleno Therapeutics Inc        | Soleno Therapeutics, Inc.                      | CUSIP: 834203309<br>LEI: 5493003LCY77N7FXK844 | Long             | EC               | CORP              | US        |       471 | NS      | $21807.30     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Cooper Cos Inc/The             | Cooper Companies, Inc.                         | CUSIP: 216648501<br>LEI: QJKMVPIGLH7530PCUE20 | Long             | EC               | CORP              | US        |       716 | NS      | $58683.36     | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Illumina Inc                   | Illumina, Inc.                                 | CUSIP: 452327109<br>LEI: SQ95QG8SR5Q56LSNF682 | Long             | EC               | CORP              | US        |       488 | NS      | $64006.08     | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Becton Dickinson & Co          | Becton Dickinson & Co.                         | CUSIP: 075887109<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | EC               | CORP              | US        |       558 | NS      | $108291.06    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Baxter International Inc       | Baxter International, Inc.                     | CUSIP: 071813109<br>LEI: J5OIVXX3P24RJRW5CK77 | Long             | EC               | CORP              | US        |      2403 | NS      | $45921.33     | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Vaxcyte Inc                    | Vaxcyte, Inc.                                  | CUSIP: 92243G108<br>LEI: 254900M7NMHTGASX8D95 | Long             | EC               | CORP              | US        |       785 | NS      | $36219.90     | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Repligen Corp                  | Repligen Corp.                                 | CUSIP: 759916109<br>LEI: 54930006QJ0T5AUO1E71 | Long             | EC               | CORP              | US        |       232 | NS      | $38015.52     | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Halozyme Therapeutics Inc      | Halozyme Therapeutics, Inc.                    | CUSIP: 40637H109<br>LEI: 529900242I3SV9AGM753 | Long             | EC               | CORP              | US        |       642 | NS      | $43206.60     | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertex Pharmaceuticals Inc     | Vertex Pharmaceuticals, Inc.                   | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               | CORP              | US        |       352 | NS      | $159582.72    | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Krystal Biotech Inc            | Krystal Biotech, Inc.                          | CUSIP: 501147102<br>LEI: 549300YONUY68210OE41 | Long             | EC               | CORP              | US        |        98 | NS      | $24160.92     | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Pfizer Inc                     | Pfizer, Inc.                                   | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |      6976 | NS      | $173702.40    | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Alcon Inc                      | Alcon, Inc.                                    | CUSIP: N/A<br>LEI: 549300LDT5AP8S0NBM78       | Long             | EC               | CORP              | US        |       848 | NS      | $66830.88     | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| PTC Therapeutics Inc           | PTC Therapeutics, Inc.                         | CUSIP: 69366J200<br>LEI: 549300UJLWOIWFDGB318 | Long             | EC               | CORP              | US        |       474 | NS      | $36005.04     | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Dexcom Inc                     | Dexcom, Inc.                                   | CUSIP: 252131107<br>LEI: 549300YSK3QDSFR5EU59 | Long             | EC               | CORP              | US        |      1103 | NS      | $73206.11     | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Viking Therapeutics Inc        | Viking Therapeutics, Inc.                      | CUSIP: 92686J106<br>LEI: 529900IVC72YPFA25M37 | Long             | EC               | CORP              | US        |       795 | NS      | $27968.10     | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| ACADIA Pharmaceuticals Inc     | ACADIA Pharmaceuticals, Inc.                   | CUSIP: 004225108<br>LEI: 529900O3044NO0PEA039 | Long             | EC               | CORP              | US        |      1016 | NS      | $27137.36     | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| CVS Health Corp                | CVS Health Corp.                               | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |      1822 | NS      | $144593.92    | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| ResMed Inc                     | ResMed, Inc.                                   | CUSIP: 761152107<br>LEI: 529900T3QE5253CCXF22 | Long             | EC               | CORP              | US        |       353 | NS      | $85027.11     | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic PLC                  | Medtronic plc                                  | CUSIP: N/A<br>LEI: 549300GX3ZBSQWUXY261       | Long             | EC               | CORP              | US        |      1101 | NS      | $105762.06    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| AbbVie Inc                     | AbbVie, Inc.                                   | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |      1325 | NS      | $302749.25    | 2.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson              | Johnson & Johnson                              | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |      1572 | NS      | $325325.40    | 3.09%             |  |  |  | No            |                  1 | On Loan: No      |
| BeOne Medicines Ltd            | BeOne Medicines Ltd.                           | CUSIP: 07725L102<br>LEI: 549300JFUK6FRD5MH739 | Long             | EC               | CORP              | CH        |       271 | NS      | $82332.51     | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Ascendis Pharma A/S            | Ascendis Pharma A/S                            | CUSIP: 04351P101<br>LEI: 549300B66JN3W3J8GH73 | Long             | EC               | CORP              | DK        |       246 | NS      | $52457.04     | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Neurocrine Biosciences Inc     | Neurocrine Biosciences, Inc.                   | CUSIP: 64125C109<br>LEI: 549300FECER0XBN49756 | Long             | EC               | CORP              | US        |       375 | NS      | $53186.25     | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Cigna Group/The                | Cigna Group                                    | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |       454 | NS      | $124954.42    | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Jazz Pharmaceuticals PLC       | Jazz Pharmaceuticals plc                       | CUSIP: N/A<br>LEI: 635400GAUMJCLEZRRV50       | Long             | EC               | CORP              | US        |       443 | NS      | $75310.00     | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Revolution Medicines Inc       | Revolution Medicines, Inc.                     | CUSIP: 76155X100<br>LEI: 549300JU3X0LBCQ65892 | Long             | EC               | CORP              | US        |       709 | NS      | $56471.85     | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Ensign Group Inc/The           | Ensign Group, Inc.                             | CUSIP: 29358P101<br>LEI: 5493003K4HEEA8Q0BC72 | Long             | EC               | CORP              | US        |       233 | NS      | $40588.60     | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Eli Lilly & Co                 | Eli Lilly & Co.                                | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |       425 | NS      | $456739.00    | 4.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Apellis Pharmaceuticals Inc    | Apellis Pharmaceuticals, Inc.                  | CUSIP: 03753U106<br>LEI: 254900HS0ZFRXXSB9D42 | Long             | EC               | CORP              | US        |       968 | NS      | $24316.16     | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| HCA Healthcare Inc             | HCA Healthcare, Inc.                           | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Long             | EC               | CORP              | US        |       265 | NS      | $123717.90    | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Cencora Inc                    | Cencora, Inc.                                  | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | EC               | CORP              | US        |       397 | NS      | $134086.75    | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Elevance Health Inc            | Elevance Health, Inc.                          | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |       356 | NS      | $124795.80    | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Novartis AG                    | Novartis AG                                    | CUSIP: 66987V109<br>LEI: 5493007HIVTX6SY6XD66 | Long             | EC               | CORP              | CH        |       526 | NS      | $72519.62     | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Molina Healthcare Inc          | Molina Healthcare, Inc.                        | CUSIP: 60855R100<br>LEI: 549300NQQCEQ46YHZ591 | Long             | EC               | CORP              | US        |       250 | NS      | $43385.00     | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Labcorp Holdings Inc           | Labcorp Holdings, Inc.                         | CUSIP: 504922105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       261 | NS      | $65479.68     | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Scholar Rock Holding Corp      | Scholar Rock Holding Corp.                     | CUSIP: 80706P103<br>LEI: 549300Z1FLPGL4OWJ459 | Long             | EC               | CORP              | US        |       622 | NS      | $27399.10     | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| BioMarin Pharmaceutical Inc    | BioMarin Pharmaceutical, Inc.                  | CUSIP: 09061G101<br>LEI: NSLL8ITTRR0J5HEMR848 | Long             | EC               | CORP              | US        |       881 | NS      | $52357.83     | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Argenx SE                      | Argenx SE                                      | CUSIP: 04016X101<br>LEI: 7245009C5FZE6G9ODQ71 | Long             | EC               | CORP              | NL        |        93 | NS      | $78208.35     | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuitive Surgical Inc         | Intuitive Surgical, Inc.                       | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |       377 | NS      | $213517.72    | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Alkermes PLC                   | Alkermes plc                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      2303 | NS      | $64437.94     | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| DENTSPLY SIRONA Inc            | Dentsply Sirona, Inc.                          | CUSIP: 24906P109<br>LEI: 9NHEHR1SOZCYXDO8HO28 | Long             | EC               | CORP              | US        |      1938 | NS      | $22151.34     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Bridgebio Pharma Inc           | Bridgebio Pharma, Inc.                         | CUSIP: 10806X102<br>LEI: 54930028YG89VTY2J114 | Long             | EC               | CORP              | US        |       705 | NS      | $53925.45     | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| STERIS PLC                     | STERIS plc                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |       293 | NS      | $74281.36     | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| IQVIA Holdings Inc             | IQVIA Holdings, Inc.                           | CUSIP: 46266C105<br>LEI: 549300W3R20NM4KQPH86 | Long             | EC               | CORP              | US        |       399 | NS      | $89938.59     | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Danaher Corp                   | Danaher Corp.                                  | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |       781 | NS      | $178786.52    | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Moderna Inc                    | Moderna, Inc.                                  | CUSIP: 60770K107<br>LEI: 549300EI6OKH5K5Q2G38 | Long             | EC               | CORP              | US        |      1625 | NS      | $47921.25     | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Align Technology Inc           | Align Technology, Inc.                         | CUSIP: 016255101<br>LEI: 549300N5YSE0U3LCP840 | Long             | EC               | CORP              | US        |       305 | NS      | $47625.75     | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Humana Inc                     | Humana, Inc.                                   | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Long             | EC               | CORP              | US        |       308 | NS      | $78888.04     | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Stryker Corp                   | Stryker Corp.                                  | CUSIP: 863667101<br>LEI: 5493002F0SC4JTBU5137 | Long             | EC               | CORP              | US        |       465 | NS      | $163433.55    | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Bruker Corp                    | Bruker Corp.                                   | CUSIP: 116794108<br>LEI: LEBZ6VLQ6I8XB1NHVY15 | Long             | EC               | CORP              | US        |       708 | NS      | $33353.88     | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| IDEXX Laboratories Inc         | IDEXX Laboratories, Inc.                       | CUSIP: 45168D104<br>LEI: OGMTXK0LUU1HKV2P0J84 | Long             | EC               | CORP              | US        |       156 | NS      | $105538.68    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Avidity Biosciences Inc        | Avidity Biosciences, Inc.                      | CUSIP: 05370A108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       661 | NS      | $47677.93     | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| TG Therapeutics Inc            | TG Therapeutics, Inc.                          | CUSIP: 88322Q108<br>LEI: 529900X21UKABN9NJ529 | Long             | EC               | CORP              | US        |       993 | NS      | $29601.33     | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| BOFA SECURITIES, INC.          | BofA Securities, Inc.                          | CUSIP: N/A<br>LEI: 549300HN4UKV1E2R3U73       | Long             | RA               | CORP              | US        |     92726 | PA      | $92726.29     | 0.88%             |  |  |  | No            |                  2 | On Loan: No      |
| McKesson Corp                  | McKesson Corp.                                 | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |       181 | NS      | $148472.49    | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| ICON PLC                       | ICON plc                                       | CUSIP: N/A<br>LEI: 6354008SRQGEMC4XFI67       | Long             | EC               | CORP              | US        |       396 | NS      | $72159.12     | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co Inc                 | Merck & Company, Inc.                          | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |      2335 | NS      | $245782.10    | 2.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Health Services Inc  | Universal Health Services, Inc.                | CUSIP: 913903100<br>LEI: 549300YGMGQDO0NMJD09 | Long             | EC               | CORP              | US        |       241 | NS      | $52542.82     | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Bio-Techne Corp                | Bio-Techne Corp.                               | CUSIP: 09073M104<br>LEI: 54930073RLKQ51TILZ35 | Long             | EC               | CORP              | US        |       751 | NS      | $44166.31     | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Waters Corp                    | Waters Corp.                                   | CUSIP: 941848103<br>LEI: 5T547R1474YC9HOD8Q74 | Long             | EC               | CORP              | US        |       184 | NS      | $69888.72     | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Quest Diagnostics Inc          | Quest Diagnostics, Inc.                        | CUSIP: 74834L100<br>LEI: 8MCWUBXQ0WE04KMXBX50 | Long             | EC               | CORP              | US        |       363 | NS      | $62991.39     | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Corcept Therapeutics Inc       | Corcept Therapeutics, Inc.                     | CUSIP: 218352102<br>LEI: 529900EO9LUTFMZ7FF90 | Long             | EC               | CORP              | US        |       468 | NS      | $16286.40     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Masimo Corp                    | Masimo Corp.                                   | CUSIP: 574795100<br>LEI: 549300Q4A8JK0PIYCU29 | Long             | EC               | CORP              | US        |       270 | NS      | $35116.20     | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Abbott Laboratories            | Abbott Laboratories                            | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |      1740 | NS      | $218004.60    | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| ADMA Biologics Inc             | ADMA Biologics, Inc.                           | CUSIP: 000899104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1565 | NS      | $28545.60     | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Avantor Inc                    | Avantor, Inc.                                  | CUSIP: 05352A100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3680 | NS      | $42172.80     | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Axsome Therapeutics Inc        | Axsome Therapeutics, Inc.                      | CUSIP: 05464T104<br>LEI: 549300EXGR0XLRJEIB95 | Long             | EC               | CORP              | US        |       245 | NS      | $44746.80     | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Recursion Pharmaceuticals Inc  | Recursion Pharmaceuticals, Inc.                | CUSIP: 75629V104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4958 | NS      | $20278.22     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| AstraZeneca PLC                | AstraZeneca plc                                | CUSIP: 046353108<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |      1234 | NS      | $113441.62    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| United Therapeutics Corp       | United Therapeutics Corp.                      | CUSIP: 91307C102<br>LEI: 5299005C4HZL4UWROC14 | Long             | EC               | CORP              | US        |       137 | NS      | $66753.25     | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Gilead Sciences Inc            | Gilead Sciences, Inc.                          | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |      1470 | NS      | $180427.80    | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Henry Schein Inc               | Henry Schein, Inc.                             | CUSIP: 806407102<br>LEI: VGO3WGL8H45T73F4RR92 | Long             | EC               | CORP              | US        |       535 | NS      | $40435.30     | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Centene Corp                   | Centene Corp.                                  | CUSIP: 15135B101<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | EC               | CORP              | US        |      1571 | NS      | $64646.65     | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Roivant Sciences Ltd.          | Roivant Sciences Ltd.                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      2027 | NS      | $43985.90     | 0.42%             |  |  |  | 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