# EDGAR Filing Document

**Accession Number:** 0001064046
**File Stem:** 0001752724-25-209276
**Filing Date:** 2025-8
**Character Count:** 24586
**Document Hash:** 0799e1819988a5833c73b2ff284af72b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-209276.hdr.sgml**: 20250827

**ACCESSION NUMBER**: 0001752724-25-209276

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250827

**DATE AS OF CHANGE**: 20250827

**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:** 251264241

**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

### Europe 1.25x Strategy Fund (Series ID: S000003749)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010418 | 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:** Europe 1.25x Strategy Fund

- **b. EDGAR series identifier (if any):** S000003749

- **c. LEI of Series:** 54930044GRP1GGC58K12

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

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-06-30

**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:** $2846306.96

**Total Liabilities:** $27696.02

**Net Assets:** $2818610.94

**Cash Not Reported:** $112736.16

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000010418 | 0.63%                | 4.60%                | 1.92%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-71081.00               | $27726.39                                  |
| Month 2  | $-747.51                 | $31671.61                                  |
| Month 3  | $-17657.32               | $30239.80                                  |

**Designated Index Information**

- **Index Name:** DJ STOXX 50

- **Index Identifier:** STXE50_USD

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ABB Ltd                                       | ABB Ltd.                                                   | CUSIP: 000375204<br>LEI: 5493000LKVGOO9PELI61 | Long             | EC               | CORP              | CH        |       269 | NS      | $16051.23     | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Air Liquide SA                                | Air Liquide S.A.                                           | CUSIP: 009126202<br>LEI: 969500MMPQVHK671GT54 | Long             | EC               | CORP              | FR        |       494 | NS      | $20402.20     | 0.72%             |  |  |  | No            |                  1 | On Loan: —       |
| Airbus SE                                     | Airbus SE                                                  | CUSIP: 009279100<br>LEI: MINO79WLOO247M1IL051 | Long             | EC               | CORP              | NL        |       400 | NS      | $20944.00     | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Allianz SE                                    | Allianz SE                                                 | CUSIP: 018820100<br>LEI: 529900K9B0N5BT694847 | Long             | EC               | CORP              | DE        |       658 | NS      | $26667.03     | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Anheuser-Busch InBev SA/NV                    | Anheuser-Busch InBev S.A.                                  | CUSIP: 03524A108<br>LEI: 5493008H3828EMEXB082 | Long             | EC               | CORP              | BE        |       175 | NS      | $12026.00     | 0.43%             |  |  |  | No            |                  1 | On Loan: —       |
| AstraZeneca PLC                               | AstraZeneca plc                                            | CUSIP: 046353108<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |       527 | NS      | $36826.76     | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| AXA SA                                        | AXA S.A.                                                   | CUSIP: 054536107<br>LEI: F5WCUMTUM4RKZ1MAIE39 | Long             | EC               | CORP              | FR        |       319 | NS      | $15669.28     | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| BASF SE                                       | BASF SE                                                    | CUSIP: 055262505<br>LEI: 529900PM64WH8AF1E917 | Long             | EC               | CORP              | DE        |       609 | NS      | $7478.52      | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| BP PLC                                        | BP plc                                                     | CUSIP: 055622104<br>LEI: 213800LH1BZH3DI6G760 | Long             | EC               | CORP              | GB        |       469 | NS      | $14037.17     | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP Paribas SA                                | BNP Paribas S.A.                                           | CUSIP: 05565A202<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | EC               | CORP              | FR        |       363 | NS      | $16385.82     | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco Santander SA                            | Banco Santander S.A.                                       | CUSIP: 05964H105<br>LEI: 5493006QMFDDMYWIAM13 | Long             | EC               | CORP              | ES        |      2582 | NS      | $21430.60     | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Guggenheim Partners Investment Management LLC | Guggenheim Strategy Fund II                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | RF                | US        |      9255 | NS      | $230268.21    | 8.17%             |  |  |  | No            |                  1 | On Loan: No      |
| British American Tobacco PLC                  | British American Tobacco plc                               | CUSIP: 110448107<br>LEI: 213800FKA5MF17RJKT63 | Long             | EC               | CORP              | GB        |       373 | NS      | $17654.09     | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Guggenheim Partners Investment Management LLC | Guggenheim Ultra Short Duration Fund - Institutional Class | CUSIP: 40169J523<br>LEI: N/A                  | Long             | EC               | RF                | US        |     18098 | NS      | $181884.92    | 6.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Cie Financiere Richemont SA                   | Cie Financiere Richemont S.A.                              | CUSIP: 204319107<br>LEI: 549300YIPGJ6UX2QPS51 | Long             | EC               | CORP              | CH        |       916 | NS      | $17248.28     | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Mercedes-Benz Group AG                        | Mercedes-Benz Group AG                                     | CUSIP: 233825207<br>LEI: 529900R27DL06UVNT076 | Long             | EC               | CORP              | DE        |       491 | NS      | $7104.77      | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Telekom AG                           | Deutsche Telekom AG                                        | CUSIP: 251566105<br>LEI: 549300V9QSIG4WX4GJ96 | Long             | EC               | CORP              | DE        |       612 | NS      | $22393.08     | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Diageo PLC                                    | Diageo plc                                                 | CUSIP: 25243Q205<br>LEI: 213800ZVIELEA55JMJ32 | Long             | EC               | CORP              | GB        |        95 | NS      | $9579.80      | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Enel SpA                                      | Enel SpA                                                   | CUSIP: 29265W207<br>LEI: WOCMU6HCI0OJWNPRZS33 | Long             | EC               | CORP              | IT        |      1328 | NS      | $12589.44     | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| EssilorLuxottica SA                           | EssilorLuxottica S.A.                                      | CUSIP: 297284200<br>LEI: 549300M3VH1A3ER1TB49 | Long             | EC               | CORP              | FR        |       105 | NS      | $14410.20     | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Funds                          | First American Government Obligations Fund - Class X       | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | RF                | US        |    173161 | NS      | $173161.00    | 6.14%             |  |  |  | No            |                  1 | On Loan: No      |
| GSK PLC                                       | GSK plc                                                    | CUSIP: 37733W204<br>LEI: 5493000HZTVUYLO1D793 | Long             | EC               | CORP              | GB        |       364 | NS      | $13977.60     | 0.50%             |  |  |  | No            |                  1 | On Loan: —       |
| HSBC Holdings PLC                             | HSBC Holdings plc                                          | CUSIP: 404280406<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | EC               | CORP              | GB        |       594 | NS      | $36109.26     | 1.28%             |  |  |  | No            |                  1 | On Loan: —       |
| Hermes International SCA                      | Hermes International SCA                                   | CUSIP: 42751Q105<br>LEI: 969500Y4IJGHJE2MTJ13 | Long             | EC               | CORP              | FR        |        60 | NS      | $16266.60     | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Iberdrola SA                                  | Iberdrola S.A.                                             | CUSIP: 450737101<br>LEI: 5QK37QC7NWOJ8D7WVQ45 | Long             | EC               | CORP              | ES        |       251 | NS      | $19321.98     | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| ING Groep NV                                  | ING Groep N.V.                                             | CUSIP: 456837103<br>LEI: 549300NYKK9MWM7GGW15 | Long             | EC               | CORP              | NL        |       537 | NS      | $11744.19     | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Intesa Sanpaolo SpA                           | Intesa Sanpaolo SpA                                        | CUSIP: 46115H107<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | EC               | CORP              | IT        |       414 | NS      | $14345.10     | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| L'Oreal SA                                    | L'Oreal S.A.                                               | CUSIP: 502117203<br>LEI: 529900JI1GG6F7RKVI53 | Long             | EC               | CORP              | FR        |       205 | NS      | $17529.55     | 0.62%             |  |  |  | No            |                  1 | On Loan: —       |
| LVMH Moet Hennessy Louis Vuitt                | LVMH Moet Hennessy Louis Vuitton SE                        | CUSIP: 502441306<br>LEI: IOG4E947OATN0KJYSD45 | Long             | EC               | CORP              | FR        |       218 | NS      | $22903.08     | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| London Stock Exchange Group PL                | London Stock Exchange Group plc                            | CUSIP: 54211N101<br>LEI: 213800QAUUUP6I445N30 | Long             | EC               | CORP              | GB        |       345 | NS      | $12716.70     | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Munich Re                                     | Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen  | CUSIP: 626188106<br>LEI: 529900MUF4C20K50JS49 | Long             | EC               | CORP              | DE        |      1111 | NS      | $14465.22     | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| National Grid PLC                             | National Grid plc                                          | CUSIP: 636274409<br>LEI: 8R95QZMKZLJX5Q2XR704 | Long             | EC               | CORP              | GB        |       174 | NS      | $12947.34     | 0.46%             |  |  |  | No            |                  1 | On Loan: —       |
| Nestle SA                                     | Nestle S.A.                                                | CUSIP: 641069406<br>LEI: KY37LUS27QQX7BB93L28 | Long             | EC               | CORP              | CH        |       439 | NS      | $43601.48     | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Novartis AG                                   | Novartis AG                                                | CUSIP: 66987V109<br>LEI: 5493007HIVTX6SY6XD66 | Long             | EC               | CORP              | CH        |       332 | NS      | $40175.32     | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Novo Nordisk A/S                              | Novo Nordisk A/S                                           | CUSIP: 670100205<br>LEI: 549300DAQ1CVT6CXN342 | Long             | EC               | CORP              | DK        |       548 | NS      | $37822.96     | 1.34%             |  |  |  | No            |                  1 | On Loan: —       |
| Prosus NV                                     | Prosus N.V.                                                | CUSIP: 74365P108<br>LEI: 635400Z5LQ5F9OLVT688 | Long             | EC               | CORP              | NL        |      1092 | NS      | $12153.96     | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| RELX PLC                                      | RELX plc                                                   | CUSIP: 759530108<br>LEI: 549300WSX3VBUFFJOO66 | Long             | EC               | CORP              | GB        |       320 | NS      | $17388.80     | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Rio Tinto PLC                                 | Rio Tinto plc                                              | CUSIP: 767204100<br>LEI: 213800YOEO5OQ72G2R82 | Long             | EC               | CORP              | GB        |       183 | NS      | $10674.39     | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Roche Holding AG                              | Roche Holding AG                                           | CUSIP: 771195104<br>LEI: 549300U41AUUVOAAOB37 | Long             | EC               | CORP              | CH        |       959 | NS      | $39088.84     | 1.39%             |  |  |  | No            |                  1 | On Loan: —       |
| Rolls-Royce Holdings PLC                      | Rolls-Royce Holdings plc                                   | CUSIP: 775781206<br>LEI: 213800EC7997ZBLZJH69 | Long             | EC               | CORP              | GB        |      1428 | NS      | $19106.64     | 0.68%             |  |  |  | No            |                  1 | On Loan: —       |
| Shell PLC                                     | Shell plc                                                  | CUSIP: 780259305<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |       507 | NS      | $35697.87     | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Safran SA                                     | Safran S.A.                                                | CUSIP: 786584102<br>LEI: 969500UIC89GT3UL7L24 | Long             | EC               | CORP              | FR        |       256 | NS      | $20907.52     | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Sanofi SA                                     | Sanofi S.A.                                                | CUSIP: 80105N105<br>LEI: 549300E9PC51EN656011 | Long             | EC               | CORP              | US        |       389 | NS      | $18792.59     | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| SAP SE                                        | SAP SE                                                     | CUSIP: 803054204<br>LEI: 529900D6BF99LW9R2E68 | Long             | EC               | CORP              | DE        |       174 | NS      | $52913.40     | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Schneider Electric SE                         | Schneider Electric SE                                      | CUSIP: 80687P106<br>LEI: 969500A1YF1XUYYXS284 | Long             | EC               | CORP              | FR        |       492 | NS      | $26262.96     | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Siemens AG                                    | Siemens AG                                                 | CUSIP: 826197501<br>LEI: W38RGI023J3WT1HWRP32 | Long             | EC               | CORP              | DE        |       256 | NS      | $32990.72     | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| TotalEnergies SE                              | TotalEnergies SE                                           | CUSIP: 89151E109<br>LEI: 529900S21EQ1BO4ESM68 | Long             | EC               | CORP              | FR        |       387 | NS      | $23757.93     | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| UniCredit SpA                                 | UniCredit SpA                                              | CUSIP: 904678406<br>LEI: 549300TRUWO2CD2G5692 | Long             | EC               | CORP              | IT        |       533 | NS      | $17812.86     | 0.63%             |  |  |  | No            |                  1 | On Loan: —       |
| Unilever PLC                                  | Unilever plc                                               | CUSIP: 904767704<br>LEI: 549300MKFYEKVRWML317 | Long             | EC               | CORP              | GB        |       437 | NS      | $26731.29     | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                                 | U.S. Treasury Bills                                        | CUSIP: 912797PZ4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    121000 | PA      | $120902.48    | 4.29%             | 2025-07-08      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Vinci SA                                      | Vinci S.A.                                                 | CUSIP: 927320101<br>LEI: 213800WFQ334R8UXUG83 | Long             | EC               | CORP              | FR        |       397 | NS      | $14645.29     | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Zurich Insurance Group AG                     | Zurich Insurance Group AG                                  | CUSIP: 989825104<br>LEI: 529900QVNRBND50TXP03 | Long             | EC               | CORP              | CH        |       497 | NS      | $17409.91     | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | Euro FX Futures Contracts                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |        15 | NC      | $36793.25     | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS Group AG                                  | UBS Group AG                                               | CUSIP: N/A<br>LEI: 549300SZJ9VS8SGXAN81       | Long             | EC               | CORP              | US        |       569 | NS      | $19243.58     | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML Holding NV                               | ASML Holding N.V.                                          | CUSIP: N/A<br>LEI: 724500Y6DUVHQD6OXN27       | Long             | EC               | CORP              | US        |        67 | NS      | $53693.13     | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| BOFA SECURITIES, INC.                         | BofA Securities, Inc.                                      | CUSIP: N/A<br>LEI: 549300HN4UKV1E2R3U73       | Long             | RA               | CORP              | US        |    246926 | PA      | $246926.03    | 8.76%             |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC.                         | Barclays Capital, Inc.                                     | CUSIP: N/A<br>LEI: AC28XWWI3WIBK2824319       | Long             | RA               | CORP              | US        |    255716 | PA      | $255716.32    | 9.07%             |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                    | J.P. Morgan Securities LLC                                 | CUSIP: N/A<br>LEI: ZBUT11V806EZRVTWT807       | Long             | RA               | CORP              | US        |    592622 | PA      | $592622.47    | 21.03%            |  |  |  | No            |                  2 | On Loan: No      |
| Eurex                                         | STOXX 50 Index Futures Contracts                           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | DE        |        43 | NC      | $3493.20      | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-30

**Name of Applicant:** Rydex Variable Trust

**Signature:** James Howley

**Name of Signer:** James Howley

**Title:** CFO