# EDGAR Filing Document

**Accession Number:** 0001064046
**File Stem:** 0000940400-26-022853
**Filing Date:** 2026-6
**Character Count:** 22725
**Document Hash:** 11c17f57d90d56a0ef80ffaf14fc4a62
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-022853.hdr.sgml**: 20260601

**ACCESSION NUMBER**: 0000940400-26-022853

**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:** 261048530

**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

### Utilities Fund (Series ID: S000003725)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010394 | 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:** Utilities Fund

- **b. EDGAR series identifier (if any):** S000003725

- **c. LEI of Series:** 549300EBPUQN2OLJFP29

**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:** $14004904.37

**Total Liabilities:** $942331.11

**Net Assets:** $13062573.26

**Cash Not Reported:** $1559.00

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000010394 | 2.29%                | 8.60%                | -3.36%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $676220.04               | $-441420.93                                |
| Month 2  | $78678.51                | $661325.39                                 |
| Month 3  | $-55492.08               | $-324985.65                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Sempra                                             | Sempra COM                                                   | CUSIP: 816851109<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | EC               | CORP              | US        |      4680 | NS      | $454755.60    | 3.48%             |  |  |  | No            |                  1 | On Loan: No      |
| MGE ENERGY INC                                     | MGE Energy Inc. COM                                          | CUSIP: 55277P104<br>LEI: 549300BYWGHSXX2TEO67 | Long             | EC               | CORP              | US        |       683 | NS      | $52789.07     | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Duke Energy Corp                                   | Duke Energy Corp COM NEW                                     | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               | CORP              | US        |      4267 | NS      | $558720.98    | 4.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Idacorp Inc                                        | Idacorp Inc COM                                              | CUSIP: 451107106<br>LEI: N134NUJDWN8UEFA8B673 | Long             | EC               | CORP              | US        |      1100 | NS      | $157267.00    | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Eversource Energy                                  | Eversource Energy COM                                        | CUSIP: 30040W108<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | EC               | CORP              | US        |      4030 | NS      | $279198.40    | 2.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Evergy Inc                                         | Evergy Inc COM                                               | CUSIP: 30034W106<br>LEI: 549300PGTHDQY6PSUI61 | Long             | EC               | CORP              | US        |      2919 | NS      | $239124.48    | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| OGE Energy Corporation                             | OGE Energy Corporation COM                                   | CUSIP: 670837103<br>LEI: CE5OG6JPOZMDSA0LAQ19 | Long             | EC               | CORP              | US        |      3637 | NS      | $174430.52    | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Alliant Energy Corporation                         | Alliant Energy Corporation COM                               | CUSIP: 018802108<br>LEI: 5493009ML300G373MZ12 | Long             | EC               | CORP              | US        |      3334 | NS      | $239247.84    | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| American Water Works Company, Inc.                 | American Water Works Company, Inc. COM                       | CUSIP: 030420103<br>LEI: 549300DXHIJQMD5WFW18 | Long             | EC               | CORP              | US        |      2066 | NS      | $281161.94    | 2.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Dominion Energy Inc                                | Dominion Energy Inc COM                                      | CUSIP: 25746U109<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | EC               | CORP              | US        |      6586 | NS      | $407146.52    | 3.12%             |  |  |  | No            |                  1 | On Loan: No      |
| TALEN ENERGY CORP                                  | Talen Energy Corporation COM                                 | CUSIP: 87422Q109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       683 | NS      | $218034.09    | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| NextEra Energy Inc                                 | NextEra Energy Inc COM                                       | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |      8402 | NS      | $780377.76    | 5.97%             |  |  |  | No            |                  1 | On Loan: No      |
| NiSource Inc.                                      | NiSource Inc. COM                                            | CUSIP: 65473P105<br>LEI: 549300D8GOWWH0SJB189 | Long             | EC               | CORP              | US        |      5635 | NS      | $262929.10    | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| NorthWestern Energy Group Inc                      | NorthWestern Energy Group Inc COM NEW                        | CUSIP: 668074305<br>LEI: 254900N1WG46G1VMDM34 | Long             | EC               | CORP              | US        |      1682 | NS      | $110911.08    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Essential Utilities Inc                            | Essential Utilities Inc COM                                  | CUSIP: 29670G102<br>LEI: 549300ILTEOF3E3QY357 | Long             | EC               | CORP              | US        |      4571 | NS      | $184074.17    | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Pinnacle West Capital Corp.                        | Pinnacle West Capital Corp. COM                              | CUSIP: 723484101<br>LEI: TWSEY0NEDUDCKS27AH81 | Long             | EC               | CORP              | US        |      1922 | NS      | $193641.50    | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| FirstEnergy Corp.                                  | FirstEnergy Corp. COM                                        | CUSIP: 337932107<br>LEI: 549300SVYJS666PQJH88 | Long             | EC               | CORP              | US        |      5803 | NS      | $293979.98    | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortis Inc                                         | Fortis Inc COM                                               | CUSIP: 349553107<br>LEI: 549300MQYQ9Y065XPR71 | Long             | EC               | CORP              | CA        |      3873 | NS      | $216074.67    | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| AES Corp.                                          | AES Corp. COM                                                | CUSIP: 00130H105<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | EC               | CORP              | US        |      8427 | NS      | $118736.43    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| PG&E Corporation                                   | PG&E Corporation COM                                         | CUSIP: 69331C108<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | EC               | CORP              | US        |     19549 | NS      | $343475.93    | 2.63%             |  |  |  | No            |                  1 | On Loan: No      |
| CMS Energy Corporation                             | CMS Energy Corporation COM                                   | CUSIP: 125896100<br>LEI: 549300IA9XFBAGNIBW29 | Long             | EC               | CORP              | US        |      3505 | NS      | $271917.90    | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Black Hills Corporation                            | Black Hills Corporation COM                                  | CUSIP: 092113109<br>LEI: 3MGELCRSTNSAMJ962671 | Long             | EC               | CORP              | US        |      1819 | NS      | $126256.79    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Southern Co.                                       | Southern Co. COM                                             | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |      5926 | NS      | $571977.52    | 4.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Exelon Corp.                                       | Exelon Corp. COM                                             | CUSIP: 30161N101<br>LEI: 3SOUA6IRML7435B56G12 | Long             | EC               | CORP              | US        |      7999 | NS      | $392110.98    | 3.00%             |  |  |  | No            |                  1 | On Loan: No      |
| PPL Corporation                                    | PPL Corporation COM                                          | CUSIP: 69351T106<br>LEI: 9N3UAJSNOUXFKQLF3V18 | Long             | EC               | CORP              | US        |      7656 | NS      | $292459.20    | 2.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Vistra Corp                                        | Vistra Corp COM                                              | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Long             | EC               | CORP              | US        |      2558 | NS      | $384544.14    | 2.94%             |  |  |  | No            |                  1 | On Loan: No      |
| UGI Corp                                           | UGI Corp COM                                                 | CUSIP: 902681105<br>LEI: DX6GCWD4Q1JO9CRE5I40 | Long             | EC               | CORP              | US        |      4289 | NS      | $156205.38    | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Edison International                               | Edison International COM                                     | CUSIP: 281020107<br>LEI: 549300I7ROF15MAEVP56 | Long             | EC               | CORP              | US        |      4138 | NS      | $302818.84    | 2.32%             |  |  |  | No            |                  1 | On Loan: No      |
| TXNM Energy Inc.                                   | TXNM Energy Inc. COM                                         | CUSIP: 69349H107<br>LEI: 5493003JOBJGLZSDDQ28 | Long             | EC               | CORP              | US        |      2397 | NS      | $140128.62    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Atmos Energy Corp.                                 | Atmos Energy Corp. COM                                       | CUSIP: 049560105<br>LEI: QVLWEGTD2S8GJMO8D383 | Long             | EC               | CORP              | US        |      1653 | NS      | $305342.16    | 2.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Ameren Corp.                                       | Ameren Corp. COM                                             | CUSIP: 023608102<br>LEI: XRZQ5S7HYJFPHJ78L959 | Long             | EC               | CORP              | US        |      2792 | NS      | $306896.64    | 2.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Consolidated Edison, Inc.                          | Consolidated Edison, Inc. COM                                | CUSIP: 209115104<br>LEI: 54930033SBW53OO8T749 | Long             | EC               | CORP              | US        |      3143 | NS      | $355724.74    | 2.72%             |  |  |  | No            |                  1 | On Loan: No      |
| H2O America                                        | H2O America COM                                              | CUSIP: 784305104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1575 | NS      | $92405.25     | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Xcel Energy Inc                                    | Xcel Energy Inc COM                                          | CUSIP: 98389B100<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | EC               | CORP              | US        |      4921 | NS      | $390924.24    | 2.99%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOKFIELD RENEWABLE CORP                          | Brookfield Renewable Corporation CL A EX SUB VTG             | CUSIP: 11285B108<br>LEI: 894500N9AWD5I1YNP231 | Long             | EC               | CORP              | CA        |      4970 | NS      | $197955.10    | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| American Electric Power Co, Inc.                   | American Electric Power Co, Inc. COM                         | CUSIP: 025537101<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | EC               | CORP              | US        |      3562 | NS      | $466906.96    | 3.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Clearway Energy Inc                                | Clearway Energy Inc CL C                                     | CUSIP: 18539C204<br>LEI: 549300LHAZ9HA9G3XC48 | Long             | EC               | CORP              | US        |      4052 | NS      | $159203.08    | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| National Fuel Gas Company                          | National Fuel Gas Company COM                                | CUSIP: 636180101<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | EC               | CORP              | US        |      1761 | NS      | $165463.56    | 1.27%             |  |  |  | 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        |     21551 | PA      | $21551.26     | 0.16%             |  |  |  | No            |                  2 | 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        |     19585 | PA      | $19585.30     | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| NRG Energy, Inc.                                   | NRG Energy, Inc. COM NEW                                     | CUSIP: 629377508<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | EC               | CORP              | US        |      2073 | NS      | $302948.22    | 2.32%             |  |  |  | No            |                  1 | On Loan: No      |
| MDU RESOURCES GROUP INC                            | MDU Resources Group, Inc. COM                                | CUSIP: 552690109<br>LEI: 549300MA0UV6AI6SNV27 | Long             | EC               | CORP              | US        |      5507 | NS      | $114105.04    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| National Grid PLC                                  | National Grid PLC SPONSORED ADR NE                           | CUSIP: 636274409<br>LEI: 8R95QZMKZLJX5Q2XR704 | Long             | EC               | CORP              | GB        |      2425 | NS      | $205155.00    | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| DTE Energy Co.                                     | DTE Energy Co. COM                                           | CUSIP: 233331107<br>LEI: 549300IX8SD6XXD71I78 | Long             | EC               | CORP              | US        |      1952 | NS      | $285421.44    | 2.19%             |  |  |  | No            |                  1 | On Loan: No      |
| OKLO INC                                           | Oklo Inc. COM CL A                                           | CUSIP: 02156V109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2670 | NS      | $132405.30    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Energy Corp.                         | Constellation Energy Corp. COM                               | CUSIP: 21037T109<br>LEI: 549300F8Y20RYGNGV346 | Long             | EC               | CORP              | US        |      1798 | NS      | $502091.50    | 3.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Centerpoint Energy Inc                             | Centerpoint Energy Inc COM                                   | CUSIP: 15189T107<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | EC               | CORP              | US        |      6815 | NS      | $294135.40    | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Portland General Electric Company                  | Portland General Electric Company COM NEW                    | CUSIP: 736508847<br>LEI: GJOUP9M7C39GLSK9R870 | Long             | EC               | CORP              | US        |      2719 | NS      | $143481.63    | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| WEC Energy Group Inc.                              | WEC Energy Group Inc. COM                                    | CUSIP: 92939U106<br>LEI: 549300IGLYTZUK3PVP70 | Long             | EC               | CORP              | US        |      2926 | NS      | $338743.02    | 2.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Service Enterprise Group Incorporated       | Public Service Enterprise Group Incorporated COM             | CUSIP: 744573106<br>LEI: PUSS41EMO3E6XXNV3U28 | Long             | EC               | CORP              | US        |      4348 | NS      | $351970.60    | 2.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Ormat Technologies Inc.                            | Ormat Technologies Inc. COM                                  | CUSIP: 686688102<br>LEI: 5493000TSHHWY24VHM09 | Long             | EC               | CORP              | US        |      1092 | NS      | $122216.64    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Entergy Corporation                                | Entergy Corporation COM                                      | CUSIP: 29364G103<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | EC               | CORP              | US        |      3671 | NS      | $412473.56    | 3.16%             |  |  |  | No            |                  1 | On Loan: No      |
| OTTER TAIL CORP                                    | Otter Tail Corporation COM                                   | CUSIP: 689648103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       835 | NS      | $73287.95     | 0.56%             |  |  |  | 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