# EDGAR Filing Document

**Accession Number:** 0001064046
**File Stem:** 0000940400-26-022873
**Filing Date:** 2026-6
**Character Count:** 31705
**Document Hash:** b956e25a8884363fba7bb9e7ef3ff83c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-022873.hdr.sgml**: 20260601

**ACCESSION NUMBER**: 0000940400-26-022873

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260601

**DATE AS OF CHANGE**: 20260601

**PERIOD START**: 20261231

**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:** 261048555

**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

### Transportation Fund (Series ID: S000003724)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010393 | 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 BOULEVARD

  - **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:** Transportation Fund

- **b. EDGAR series identifier (if any):** S000003724

- **c. LEI of Series:** 549300B7U5TQYKDWLG56

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

- **a. Date of fiscal year-end:** 2026-12-31

- **b. Date as of which information is reported:** 2026-03-31

**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:** $5230781.85

**Total Liabilities:** $106173.14

**Net Assets:** $5124608.71

**Cash Not Reported:** $0.74

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000010393 | 1.05%                | 4.57%                | -8.91%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-50633.63               | $12982.93                                  |
| Month 2  | $-18207.53               | $253339.15                                 |
| Month 3  | $-530408.24              | $-292345.83                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Southwest Airlines Co.                             | Southwest Airlines Co. COM                                   | CUSIP: 844741108<br>LEI: UDTZ87G0STFETI6HGH41 | Long             | EC               | CORP              | US        |      2031 | NS      | $76304.67     | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Hertz Global Holdings Inc.                         | Hertz Global Holdings Inc. COM NEW                           | CUSIP: 42806J700<br>LEI: 549300NBK3K85MH1EX16 | Long             | EC               | CORP              | US        |      3114 | NS      | $14355.54     | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                         | J.P. MORGAN SECURITIES LLC TRI PARTY                         | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | Long             | RA               | CORP              | US        |     41151 | PA      | $41151.27     | 0.80%             |  |  |  | No            |                  2 | On Loan: No      |
| Garrett Motion Inc                                 | Garrett Motion Inc COM                                       | CUSIP: 366505105<br>LEI: 549300LS5WT7EMBNV724 | Long             | EC               | CORP              | US        |      3434 | NS      | $62395.78     | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Landstar System Inc.                               | Landstar System Inc. COM                                     | CUSIP: 515098101<br>LEI: 254900CUQXQRL09MEI52 | Long             | EC               | CORP              | US        |       270 | NS      | $43283.70     | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| ZTO EXPRESS (CAYMAN) INC                           | ZTO Express (Cayman) Inc. SPONSORED ADS A                    | CUSIP: 98980A105<br>LEI: 549300SCJPK3YZJTJR78 | Long             | EC               | CORP              | KY        |      2543 | NS      | $64007.31     | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| United Parcel Service, Inc.                        | United Parcel Service, Inc. CL B                             | CUSIP: 911312106<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | EC               | CORP              | US        |      1646 | NS      | $161933.48    | 3.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Lear Corporation                                   | Lear Corporation COM NEW                                     | CUSIP: 521865204<br>LEI: 549300UPNBTXA1SYTQ33 | Long             | EC               | CORP              | US        |       367 | NS      | $44436.36     | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| RXO Inc.                                           | RXO Inc. COMMON STOCK                                        | CUSIP: 74982T103<br>LEI: 549300KL8CA6GP8XPM30 | Long             | EC               | CORP              | US        |      2059 | NS      | $30102.58     | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Delta Air Lines Inc.                               | Delta Air Lines Inc. COM NEW                                 | CUSIP: 247361702<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | EC               | CORP              | US        |      1863 | NS      | $123852.24    | 2.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Saia Inc                                           | Saia Inc COM                                                 | CUSIP: 78709Y105<br>LEI: 549300WNPG4N9GBOYB29 | Long             | EC               | CORP              | US        |       166 | NS      | $58312.48     | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian National Railway Company                  | Canadian National Railway Company COM                        | CUSIP: 136375102<br>LEI: 3SU7BEP7TH9YEQOZCS77 | Long             | EC               | CORP              | CA        |       599 | NS      | $61559.23     | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Honda Motor Co Ltd.                                | Honda Motor Co Ltd. ADR ECH CNV IN 3                         | CUSIP: 438128308<br>LEI: 549300P7ZYCQJ36CCS16 | Long             | EC               | CORP              | JP        |      2274 | NS      | $55280.94     | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryder System, Inc.                                 | Ryder System, Inc. COM                                       | CUSIP: 783549108<br>LEI: ZXJ6Y2OSPZXIVGRILD15 | Long             | EC               | CORP              | US        |       197 | NS      | $40327.87     | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Toyota Motor Corp.                                 | Toyota Motor Corp. ADS                                       | CUSIP: 892331307<br>LEI: 5493006W3QUS5LMH6R84 | Long             | EC               | CORP              | JP        |       275 | NS      | $56674.75     | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| JetBlue Airways Corporation                        | JetBlue Airways Corporation COM                              | CUSIP: 477143101<br>LEI: 54930070J9H97ZO93T57 | Long             | EC               | CORP              | US        |      4818 | NS      | $21295.56     | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Ford Motor Company                                 | Ford Motor Company COM                                       | CUSIP: 345370860<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | EC               | CORP              | US        |     10036 | NS      | $115815.44    | 2.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Patrick Industries Inc.                            | Patrick Industries Inc. COM                                  | CUSIP: 703343103<br>LEI: 549300FZ5ZTCCJ3Z5W14 | Long             | EC               | CORP              | US        |       295 | NS      | $32765.65     | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| J. B. Hunt Transport Services, Inc.                | J. B. Hunt Transport Services, Inc. COM                      | CUSIP: 445658107<br>LEI: 549300XCD1MPI1C5GK90 | Long             | EC               | CORP              | US        |       344 | NS      | $72893.60     | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| General Motors Company                             | General Motors Company COM                                   | CUSIP: 37045V100<br>LEI: 54930070NSV60J38I987 | Long             | EC               | CORP              | US        |      1947 | NS      | $145051.50    | 2.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Dorman Products Inc.                               | Dorman Products Inc. COM                                     | CUSIP: 258278100<br>LEI: 2549000O0BBUX740XR59 | Long             | EC               | CORP              | US        |       238 | NS      | $24837.68     | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Frontier Group Holdings Inc                        | Frontier Group Holdings Inc COM                              | CUSIP: 35909R108<br>LEI: 549300DT3Y2BHO6G7T02 | Long             | EC               | CORP              | US        |      2793 | NS      | $9859.29      | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| CSX Corporation                                    | CSX Corporation COM                                          | CUSIP: 126408103<br>LEI: 549300JVQR4N1MMP3Q88 | Long             | EC               | CORP              | US        |      3838 | NS      | $157549.90    | 3.07%             |  |  |  | No            |                  1 | On Loan: No      |
| United Airlines Holdings Inc                       | United Airlines Holdings Inc COM                             | CUSIP: 910047109<br>LEI: 98450079DA0B78DD6764 | Long             | EC               | CORP              | US        |      1094 | NS      | $100724.58    | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| HUB Group Inc                                      | HUB Group Inc CL A                                           | CUSIP: 443320106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       722 | NS      | $26020.88     | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Thor Industries Inc.                               | Thor Industries Inc. COM                                     | CUSIP: 885160101<br>LEI: 254900XZO1228PDSG060 | Long             | EC               | CORP              | US        |       435 | NS      | $34752.15     | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Matson Inc                                         | Matson Inc COM                                               | CUSIP: 57686G105<br>LEI: 549300OI5H3Y0I9I4I12 | Long             | EC               | CORP              | US        |       202 | NS      | $33115.88     | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Avis Budget Group Inc.                             | Avis Budget Group Inc. COM                                   | CUSIP: 053774105<br>LEI: 529900E95812SYWMCE44 | Long             | EC               | CORP              | US        |       217 | NS      | $31649.45     | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Lyft Inc                                           | Lyft Inc CL A COM                                            | CUSIP: 55087P104<br>LEI: 549300H7I5VN334XVZ52 | Long             | EC               | CORP              | US        |      3052 | NS      | $40591.60     | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Alaska Air Group Inc.                              | Alaska Air Group Inc. COM                                    | CUSIP: 011659109<br>LEI: 529900G48RT4KWLC6C27 | Long             | EC               | CORP              | US        |       978 | NS      | $35970.84     | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Stellantis N.V                                     | Stellantis N.V COM EUR0.01                                   | CUSIP: 000000000<br>LEI: 549300LKT9PW7ZIBDF31 | Long             | EC               | CORP              | NL        |      8926 | NS      | $63285.34     | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Goodyear Tire & Rubber Co. The                     | Goodyear Tire & Rubber Co. The COM                           | CUSIP: 382550101<br>LEI: 5493002BI0S2ZQUY3437 | Long             | EC               | CORP              | US        |      3478 | NS      | $23059.14     | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Copa Holdings SA                                   | Copa Holdings SA NPV CLASS 'A'                               | CUSIP: 000000000<br>LEI: 529900BB9UQJV6QQHA59 | Long             | EC               | CORP              | PA        |       476 | NS      | $54078.36     | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| C.H. Robinson Worldwide Inc                        | C.H. Robinson Worldwide Inc COM NEW                          | CUSIP: 12541W209<br>LEI: 529900WNWN5L0OVDHA79 | Long             | EC               | CORP              | US        |       457 | NS      | $75893.99     | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| NIO INC                                            | NIO Inc. SPON ADS                                            | CUSIP: 62914V106<br>LEI: 549300JBU4TV5OCKJV96 | Long             | EC               | CORP              | KY        |     11409 | NS      | $68796.27     | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| FedEx Corporation                                  | FedEx Corporation COM                                        | CUSIP: 31428X106<br>LEI: 549300E707U7WNPZN687 | Long             | EC               | CORP              | US        |       435 | NS      | $154938.30    | 3.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Gentex Corp                                        | Gentex Corp COM                                              | CUSIP: 371901109<br>LEI: 549300S3UD8XV1MN0287 | Long             | EC               | CORP              | US        |      1761 | NS      | $38477.85     | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Norfolk Southern Corporation                       | Norfolk Southern Corporation COM                             | CUSIP: 655844108<br>LEI: 54930036C8MWP850MI84 | Long             | EC               | CORP              | US        |       489 | NS      | $140343.00    | 2.74%             |  |  |  | No            |                  1 | On Loan: No      |
| AUTOLIV INC                                        | Autoliv Inc. COM                                             | CUSIP: 052800109<br>LEI: A23RUXWKASG834LTMK28 | Long             | EC               | CORP              | US        |       578 | NS      | $60782.48     | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Adient PLC                                         | Adient PLC COM USD0.001                                      | CUSIP: 000000000<br>LEI: 5493002QLDY8O75RTR78 | Long             | EC               | CORP              | IE        |      1105 | NS      | $22332.05     | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| GXO Logistics Inc.                                 | GXO Logistics Inc. COMMON STOCK                              | CUSIP: 36262G101<br>LEI: 5493007CNWMXN78JRN66 | Long             | EC               | CORP              | US        |       822 | NS      | $42620.70     | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Skywest Inc                                        | Skywest Inc COM                                              | CUSIP: 830879102<br>LEI: 529900UYS2KGS6Z42P09 | Long             | EC               | CORP              | US        |       356 | NS      | $32691.48     | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Visteon Corporation                                | Visteon Corporation COM NEW                                  | CUSIP: 92839U206<br>LEI: 549300MOVLYHRW4GGW78 | Long             | EC               | CORP              | US        |       299 | NS      | $27241.89     | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| KNIGHT-SWIFT TRANSPORTATION HOLDINGS INC           | Knight-Swift Transportation Holdings Inc. CL A               | CUSIP: 499049104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       992 | NS      | $57119.36     | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| STAR BULK CARRIERS CORP                            | Star Bulk Carriers Corp. COM USD0.01(POST REV SPLIT)         | CUSIP: 000000000<br>LEI: 549300SO3FMK7H6DDY54 | Long             | EC               | CORP              | MH        |      2685 | NS      | $61674.45     | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| CANADIAN PACIFIC KANSAS CITY LTD                   | Canadian Pacific Kansas City Ltd. COM                        | CUSIP: 13646K108<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |       779 | NS      | $61276.14     | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| FORWARD AIR CORP                                   | Forward Air Corp. COM                                        | CUSIP: 34986A104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       854 | NS      | $14270.34     | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| TFI International Inc                              | TFI International Inc COM                                    | CUSIP: 87241L109<br>LEI: 5493007R9W7KO7SJN678 | Long             | EC               | CORP              | CA        |       575 | NS      | $62462.25     | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Tesla Inc                                          | Tesla Inc COM                                                | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |      1627 | NS      | $604837.25    | 11.80%            |  |  |  | No            |                  1 | On Loan: No      |
| Rivian Automotive Inc                              | Rivian Automotive Inc COM CL A                               | CUSIP: 76954A103<br>LEI: 25490004LNKJ84MFYY24 | Long             | EC               | CORP              | US        |      4448 | NS      | $66942.40     | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Harley-Davidson, Inc.                              | Harley-Davidson, Inc. COM                                    | CUSIP: 412822108<br>LEI: ZDNAWZWXIKMWI51R2A08 | Long             | EC               | CORP              | US        |      1377 | NS      | $27842.94     | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Solid Power Inc                                    | Solid Power Inc CLASS A COM                                  | CUSIP: 83422N105<br>LEI: 5299001ZPFRA2QBIQK79 | Long             | EC               | CORP              | US        |      4281 | NS      | $12843.00     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Dana Inc.                                          | Dana Inc. COM                                                | CUSIP: 235825205<br>LEI: KVWHW7YLZPFJM8QYNJ51 | Long             | EC               | CORP              | US        |      1010 | NS      | $33986.50     | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Aptiv PLC                                          | Aptiv PLC COM SHS                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JE        |       882 | NS      | $61246.08     | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Uber Technologies Inc                              | Uber Technologies Inc COM                                    | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               | CORP              | US        |      2955 | NS      | $212553.15    | 4.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Lucid Group Inc                                    | Lucid Group Inc COM NEW                                      | CUSIP: 549498202<br>LEI: 529900MRL9Z13ZCRVD74 | Long             | EC               | CORP              | US        |      2107 | NS      | $20079.71     | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| QUANTUMSCAPE CORP                                  | QuantumScape Corporation COM CL A                            | CUSIP: 74767V109<br>LEI: 529900JQVOM1M73BJE28 | Long             | EC               | CORP              | US        |      4707 | NS      | $30030.66     | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Allegiant Travel Company                           | Allegiant Travel Company COM                                 | CUSIP: 01748X102<br>LEI: 549300JM9OZXOHWL2K18 | Long             | EC               | CORP              | US        |       222 | NS      | $17990.88     | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| FERRARI NV                                         | Ferrari N V COM EUR0.01                                      | CUSIP: 000000000<br>LEI: 549300RIVY5EX8RCON76 | Long             | EC               | CORP              | NL        |       187 | NS      | $63290.15     | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Mobileye Global Inc                                | Mobileye Global Inc COMMON CLASS A                           | CUSIP: 60741F104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8114 | NS      | $55743.18     | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Arcbest Corporation                                | Arcbest Corporation COM                                      | CUSIP: 03937C105<br>LEI: 5493006S3KBNE8ZS3J23 | Long             | EC               | CORP              | US        |       179 | NS      | $17606.44     | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED | MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED TRI PARTY | CUSIP: 000000000<br>LEI: 8NAV47T0Y26Q87Y0QP81 | Long             | RA               | CORP              | US        |     37397 | PA      | $37397.35     | 0.73%             |  |  |  | No            |                  2 | On Loan: No      |
| Expeditors International Of Washington Inc.        | Expeditors International Of Washington Inc. COM              | CUSIP: 302130109<br>LEI: 984500B055A804AB6E40 | Long             | EC               | CORP              | US        |       529 | NS      | $75768.67     | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| LI AUTO INC                                        | Li Auto Inc. SPONSORED ADS                                   | CUSIP: 50202M102<br>LEI: 2549003R73Q70J5H4I65 | Long             | EC               | CORP              | KY        |      3441 | NS      | $61353.03     | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| GRAB HOLDINGS LTD                                  | Grab Holdings Ltd. CLASS A ORD                               | CUSIP: 000000000<br>LEI: 549300N4VQX83VPJF439 | Long             | EC               | CORP              | KY        |     17434 | NS      | $63808.44     | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| XPO Inc                                            | XPO Inc COM                                                  | CUSIP: 983793100<br>LEI: 54930096DB9LCLPN7H13 | Long             | EC               | CORP              | US        |       443 | NS      | $86185.65     | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryanair Holdings PLC                               | Ryanair Holdings PLC SPONSORED ADR                           | CUSIP: 783513203<br>LEI: 635400BR2ROC1FVEBQ56 | Long             | EC               | CORP              | IE        |       989 | NS      | $57164.20     | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Old Dominion Freight Line Inc.                     | Old Dominion Freight Line Inc. COM                           | CUSIP: 679580100<br>LEI: 5299009TWK32WE417T96 | Long             | EC               | CORP              | US        |       594 | NS      | $116067.60    | 2.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Union Pacific Corporation                          | Union Pacific Corporation COM                                | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |       870 | NS      | $211079.40    | 4.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Kirby Corp                                         | Kirby Corp COM                                               | CUSIP: 497266106<br>LEI: I7NO6FZO5GUCG585T325 | Long             | EC               | CORP              | US        |       364 | NS      | $48368.32     | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Werner Enterprises Inc.                            | Werner Enterprises Inc. COM                                  | CUSIP: 950755108<br>LEI: 549300P6XRGOCHHJST37 | Long             | EC               | CORP              | US        |       811 | NS      | $23851.51     | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Sun Country Airlines Holdings Inc.                 | Sun Country Airlines Holdings Inc. COM                       | CUSIP: 866683105<br>LEI: 549300MOHOJN9GH0NJ48 | Long             | EC               | CORP              | US        |      1027 | NS      | $16966.04     | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| American Airlines Group Inc                        | American Airlines Group Inc COM                              | CUSIP: 02376R102<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | EC               | CORP              | US        |      4422 | NS      | $47492.28     | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Fox Factory Holding Corporation                    | Fox Factory Holding Corporation COM                          | CUSIP: 35138V102<br>LEI: 529900GE1HSV0617R721 | Long             | EC               | CORP              | US        |       896 | NS      | $14748.16     | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| ZIM Integrated Shipping Services Ltd               | ZIM Integrated Shipping Services Ltd SHS                     | CUSIP: 000000000<br>LEI: 21380089EIJRELKAIL21 | Long             | EC               | CORP              | IL        |      2209 | NS      | $58207.15     | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Magna International Inc                            | Magna International Inc COM                                  | CUSIP: 559222401<br>LEI: 95RWVLFZX6VGDZNNTN43 | Long             | EC               | CORP              | CA        |      1073 | NS      | $59884.13     | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| JOBY AVIATION INC                                  | Joby Aviation Inc. COM USD0.0001                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4454 | NS      | $36790.04     | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| BorgWarner Inc.                                    | BorgWarner Inc. COM                                          | CUSIP: 099724106<br>LEI: 549300DSFX2IE88NSX47 | Long             | EC               | CORP              | US        |      1093 | NS      | $59306.18     | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-06-01

**Name of Applicant:** Rydex Variable Trust

**Signature:** James Howley

**Name of Signer:** James Howley

**Title:** Chief Financial Officer