# EDGAR Filing Document

**Accession Number:** 0001064046
**File Stem:** 0000913181-26-000241
**Filing Date:** 2026-3
**Character Count:** 45614
**Document Hash:** d99c0c0893f35d46d7f47069a4a8a989
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000913181-26-000241.hdr.sgml**: 20260302

**ACCESSION NUMBER**: 0000913181-26-000241

**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:** 26705219

**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

### S&P SmallCap 600 Pure Growth Fund (Series ID: S000003741)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010410 | 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:** S&P SmallCap 600 Pure Growth Fund

- **b. EDGAR series identifier (if any):** S000003741

- **c. LEI of Series:** 549300S628MMMITB8137

**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:** $10761560.09

**Total Liabilities:** $35648.92

**Net Assets:** $10725911.17

**Cash Not Reported:** $0.35

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000010410 | -1.28%               | 2.07%                | -1.27%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-29950.74               | $-74996.06                                 |
| Month 2  | $58593.08                | $80438.72                                  |
| Month 3  | $745691.90               | $-944409.61                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| NMI Holdings Inc               | NMI Holdings, Inc.                 | CUSIP: 629209305<br>LEI: 529900KNNGFXJX1C3Z08 | Long             | EC               | CORP              | US        |      1340 | NS      | $54658.60     | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Standex International Corp     | Standex International Corp.        | CUSIP: 854231107<br>LEI: RCX52GR0JW2LRRMH9Z54 | Long             | EC               | CORP              | US        |       152 | NS      | $33026.56     | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Protagonist Therapeutics Inc   | Protagonist Therapeutics, Inc.     | CUSIP: 74366E102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1764 | NS      | $154067.76    | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Sensient Technologies Corp     | Sensient Technologies Corp.        | CUSIP: 81725T100<br>LEI: CMMZHMFZQG86EI7WZU92 | Long             | EC               | CORP              | US        |       483 | NS      | $45377.85     | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Mercury General Corp           | Mercury General Corp.              | CUSIP: 589400100<br>LEI: 5493001Q9EXPCEL4W527 | Long             | EC               | CORP              | US        |      1223 | NS      | $115035.38    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| FormFactor Inc                 | FormFactor, Inc.                   | CUSIP: 346375108<br>LEI: 549300YCEEO6SZD1ZR61 | Long             | EC               | CORP              | US        |       769 | NS      | $42894.82     | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Everus Construction Group Inc  | Everus Construction Group, Inc.    | CUSIP: 300426103<br>LEI: 2549006JMMHR0KILT425 | Long             | EC               | CORP              | US        |       894 | NS      | $76490.64     | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| CareTrust REIT Inc             | CareTrust REIT, Inc.               | CUSIP: 14174T107<br>LEI: 5493001NVXE2B9GPLU96 | Long             | EC               | CORP              | US        |      1275 | NS      | $46104.00     | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| SiTime Corp                    | SiTime Corp.                       | CUSIP: 82982T106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        88 | NS      | $31080.72     | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Artivion Inc                   | Artivion, Inc.                     | CUSIP: 228903100<br>LEI: 549300YTKV8DMSMG6K81 | Long             | EC               | CORP              | US        |      2263 | NS      | $103215.43    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Cavco Industries Inc           | Cavco Industries, Inc.             | CUSIP: 149568107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        62 | NS      | $36625.88     | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| TransMedics Group Inc          | TransMedics Group, Inc.            | CUSIP: 89377M109<br>LEI: 549300060GVOSMWARH50 | Long             | EC               | CORP              | US        |      1223 | NS      | $148777.95    | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Upwork Inc                     | Upwork, Inc.                       | CUSIP: 91688F104<br>LEI: 5493004QJ6WWBXVE2S70 | Long             | EC               | CORP              | US        |      3146 | NS      | $62353.72     | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Enova International Inc        | Enova International, Inc.          | CUSIP: 29357K103<br>LEI: 549300O8XOCQSB49UO63 | Long             | EC               | CORP              | US        |       833 | NS      | $130947.60    | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Chefs' Warehouse Inc/The       | Chefs' Warehouse, Inc.             | CUSIP: 163086101<br>LEI: 549300JYEDC8C547E980 | Long             | EC               | CORP              | US        |      1926 | NS      | $120047.58    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Clearway Energy Inc            | Clearway Energy, Inc.              | CUSIP: 18539C204<br>LEI: 549300LHAZ9HA9G3XC48 | Long             | EC               | CORP              | US        |       802 | NS      | $26674.52     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Red Rock Resorts Inc           | Red Rock Resorts, Inc.             | CUSIP: 75700L108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       849 | NS      | $52595.55     | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| PTC Therapeutics Inc           | PTC Therapeutics, Inc.             | CUSIP: 69366J200<br>LEI: 549300UJLWOIWFDGB318 | Long             | EC               | CORP              | US        |      2358 | NS      | $179113.68    | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal Signal Corp            | Federal Signal Corp.               | CUSIP: 313855108<br>LEI: 549300RTXZRPTNP6G884 | Long             | EC               | CORP              | US        |       743 | NS      | $80682.37     | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| HCI Group Inc                  | HCI Group, Inc.                    | CUSIP: 40416E103<br>LEI: 549300CZF7EZJH0MPH74 | Long             | EC               | CORP              | US        |       602 | NS      | $115397.38    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Sanmina Corp                   | Sanmina Corp.                      | CUSIP: 801056102<br>LEI: X5K24XLM8QYRXF00EB42 | Long             | EC               | CORP              | US        |       553 | NS      | $82988.71     | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| ACM Research Inc               | ACM Research, Inc.                 | CUSIP: 00108J109<br>LEI: 549300MCTENUWL2GJL61 | Long             | EC               | CORP              | US        |      4073 | NS      | $160679.85    | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Mirion Technologies Inc        | Mirion Technologies, Inc.          | CUSIP: 60471A101<br>LEI: 549300BNTOWVWFNVTJ65 | Long             | EC               | CORP              | US        |      3213 | NS      | $75248.46     | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Ligand Pharmaceuticals Inc     | Ligand Pharmaceuticals, Inc.       | CUSIP: 53220K504<br>LEI: 5493008K7TB0IKP37H79 | Long             | EC               | CORP              | US        |       530 | NS      | $100207.10    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Powell Industries Inc          | Powell Industries, Inc.            | CUSIP: 739128106<br>LEI: 549300V08RO7MX2UBN26 | Long             | EC               | CORP              | US        |       325 | NS      | $103603.50    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Adeia Inc                      | Adeia, Inc.                        | CUSIP: 00676P107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6055 | NS      | $104448.75    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| CONTRA LIGAND PHARMACE- NPV    | Ligand Pharmaceuticals, Inc.       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |       169 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Axos Financial Inc             | Axos Financial, Inc.               | CUSIP: 05465C100<br>LEI: 529900D8M56422GK9O25 | Long             | EC               | CORP              | US        |       994 | NS      | $85643.04     | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Primoris Services Corp         | Primoris Services Corp.            | CUSIP: 74164F103<br>LEI: 549300UF3OLBJ8D5K349 | Long             | EC               | CORP              | US        |      1125 | NS      | $139657.50    | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| CONTRA LIGAND PHARMACE- NPV    | Ligand Pharmaceuticals, Inc.       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |       169 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Granite Construction Inc       | Granite Construction, Inc.         | CUSIP: 387328107<br>LEI: 549300OM4BWMCIXVCZ39 | Long             | EC               | CORP              | US        |       456 | NS      | $52599.60     | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthcare Services Group Inc  | Healthcare Services Group, Inc.    | CUSIP: 421906108<br>LEI: 529900GVZ1D2FBYMS719 | Long             | EC               | CORP              | US        |      3988 | NS      | $76250.56     | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Ellington Financial Inc        | Ellington Financial, Inc.          | CUSIP: 28852N109<br>LEI: 60GS1D1R1YY5G1W7IT74 | Long             | EC               | CORP              | US        |      8284 | NS      | $112496.72    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| InterDigital Inc               | InterDigital, Inc.                 | CUSIP: 45867G101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       450 | NS      | $143271.00    | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| DXP Enterprises Inc/TX         | DXP Enterprises, Inc.              | CUSIP: 233377407<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1134 | NS      | $124501.86    | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Clear Secure Inc               | Clear Secure, Inc.                 | CUSIP: 18467V109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3771 | NS      | $132286.68    | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Sprinklr Inc                   | Sprinklr, Inc.                     | CUSIP: 85208T107<br>LEI: 254900AR04RJ2BQO5S78 | Long             | EC               | CORP              | US        |      5489 | NS      | $42704.42     | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Energy Industries Inc | Advanced Energy Industries, Inc.   | CUSIP: 007973100<br>LEI: 549300756XI3QLFT2U27 | Long             | EC               | CORP              | US        |       326 | NS      | $68254.62     | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| International Seaways Inc      | International Seaways, Inc.        | CUSIP: N/A<br>LEI: 549300YUFDGFRNGBWF46       | Long             | EC               | CORP              | US        |      1478 | NS      | $71756.90     | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| AZZ Inc                        | AZZ, Inc.                          | CUSIP: 002474104<br>LEI: 549300HD1X2NFLWPYC83 | Long             | EC               | CORP              | US        |       762 | NS      | $81671.16     | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| TTM Technologies Inc           | TTM Technologies, Inc.             | CUSIP: 87305R109<br>LEI: 549300SC4BDOIS008048 | Long             | EC               | CORP              | US        |      1149 | NS      | $79281.00     | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Brady Corp                     | Brady Corp.                        | CUSIP: 104674106<br>LEI: 549300G2LEQOFQC8GY34 | Long             | EC               | CORP              | US        |       481 | NS      | $37695.97     | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Collegium Pharmaceutical Inc   | Collegium Pharmaceutical, Inc.     | CUSIP: 19459J104<br>LEI: 54930049FXZMTLW8D496 | Long             | EC               | CORP              | US        |      3128 | NS      | $144826.40    | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Alkermes PLC                   | Alkermes plc                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      1725 | NS      | $48265.50     | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| SiriusPoint Ltd                | SiriusPoint Ltd.                   | CUSIP: N/A<br>LEI: 549300OGXFI85N3YZZ51       | Long             | EC               | CORP              | US        |      6662 | NS      | $145831.18    | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| LiveRamp Holdings Inc          | LiveRamp Holdings, Inc.            | CUSIP: 53815P108<br>LEI: 254900GXS75LG1X7RF88 | Long             | EC               | CORP              | US        |      1622 | NS      | $47638.14     | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| TripAdvisor Inc                | TripAdvisor, Inc.                  | CUSIP: 896945201<br>LEI: 549300XVG45PT5BART17 | Long             | EC               | CORP              | US        |      3807 | NS      | $55429.92     | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Palomar Holdings Inc           | Palomar Holdings, Inc.             | CUSIP: 69753M105<br>LEI: 549300DOI1MUW11BLX74 | Long             | EC               | CORP              | US        |       894 | NS      | $120475.44    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Privia Health Group Inc        | Privia Health Group, Inc.          | CUSIP: 74276R102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2837 | NS      | $67265.27     | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Pediatrix Medical Group Inc    | Pediatrix Medical Group, Inc.      | CUSIP: 58502B106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3555 | NS      | $76041.45     | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Adamas Trust Inc               | Adamas Trust, Inc.                 | CUSIP: 649604840<br>LEI: 549300JFGR0M7ULHWG48 | Long             | EC               | CORP              | US        |     20287 | NS      | $148095.10    | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| National Presto Industries Inc | National Presto Industries, Inc.   | CUSIP: 637215104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       836 | NS      | $89251.36     | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Vicor Corp                     | Vicor Corp.                        | CUSIP: 925815102<br>LEI: 5299005KMQOTR6B51F09 | Long             | EC               | CORP              | US        |       887 | NS      | $97215.20     | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Progyny Inc                    | Progyny, Inc.                      | CUSIP: 74340E103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6302 | NS      | $161835.36    | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Badger Meter Inc               | Badger Meter, Inc.                 | CUSIP: 056525108<br>LEI: 5493002JENE20OGTUG20 | Long             | EC               | CORP              | US        |       292 | NS      | $50927.72     | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| OSI Systems Inc                | OSI Systems, Inc.                  | CUSIP: 671044105<br>LEI: DDX3MPX1Y8YD30050X33 | Long             | EC               | CORP              | US        |       491 | NS      | $125234.46    | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| StoneX Group Inc               | StoneX Group, Inc.                 | CUSIP: 861896108<br>LEI: 549300JUF07L8VF02M60 | Long             | EC               | CORP              | US        |      1271 | NS      | $120910.23    | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Archrock Inc                   | Archrock, Inc.                     | CUSIP: 03957W106<br>LEI: 549300K3RIHMHDVFTL28 | Long             | EC               | CORP              | US        |      2480 | NS      | $64529.60     | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Waystar Holding Corp           | Waystar Holding Corp.              | CUSIP: 946784105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1914 | NS      | $62683.50     | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Adtalem Global Education Inc   | Adtalem Global Education, Inc.     | CUSIP: 00737L103<br>LEI: 549300Z467EZLMODV621 | Long             | EC               | CORP              | US        |       868 | NS      | $89811.96     | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| ACADIA Pharmaceuticals Inc     | ACADIA Pharmaceuticals, Inc.       | CUSIP: 004225108<br>LEI: 529900O3044NO0PEA039 | Long             | EC               | CORP              | US        |      5932 | NS      | $158443.72    | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Monarch Casino & Resort Inc    | Monarch Casino & Resort, Inc.      | CUSIP: 609027107<br>LEI: 549300AK5FF7KY11V997 | Long             | EC               | CORP              | US        |       419 | NS      | $40098.30     | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Cal-Maine Foods Inc            | Cal-Maine Foods, Inc.              | CUSIP: 128030202<br>LEI: 549300NHE5WMIEIEMF53 | Long             | EC               | CORP              | US        |       978 | NS      | $77819.46     | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| ADMA Biologics Inc             | ADMA Biologics, Inc.               | CUSIP: 000899104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3851 | NS      | $70242.24     | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| National HealthCare Corp       | National Healthcare Corp.          | CUSIP: 635906100<br>LEI: 254900PTS11LS1JS2752 | Long             | EC               | CORP              | US        |       442 | NS      | $60593.78     | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Krystal Biotech Inc            | Krystal Biotech, Inc.              | CUSIP: 501147102<br>LEI: 549300YONUY68210OE41 | Long             | EC               | CORP              | US        |       430 | NS      | $106012.20    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Acushnet Holdings Corp         | Acushnet Holdings Corp.            | CUSIP: 005098108<br>LEI: 529900W5FI106H543E43 | Long             | EC               | CORP              | US        |       723 | NS      | $57709.86     | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| StepStone Group Inc            | StepStone Group, Inc.              | CUSIP: 85914M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1043 | NS      | $66929.31     | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Catalyst Pharmaceuticals Inc   | Catalyst Pharmaceuticals, Inc.     | CUSIP: 14888U101<br>LEI: 5299004O0R5XXLA5H544 | Long             | EC               | CORP              | US        |      4192 | NS      | $97841.28     | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| XPEL Inc                       | XPEL, Inc.                         | CUSIP: 98379L100<br>LEI: 549300KWSE3IGXLJNW66 | Long             | EC               | CORP              | US        |      1238 | NS      | $61788.58     | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Harmony Biosciences Holdings I | Harmony Biosciences Holdings, Inc. | CUSIP: 413197104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2182 | NS      | $81650.44     | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Corcept Therapeutics Inc       | Corcept Therapeutics, Inc.         | CUSIP: 218352102<br>LEI: 529900EO9LUTFMZ7FF90 | Long             | EC               | CORP              | US        |      1496 | NS      | $52060.80     | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Arrowhead Pharmaceuticals Inc  | Arrowhead Pharmaceuticals, Inc.    | CUSIP: 04280A100<br>LEI: 549300O3CSB8T7OZ3D66 | Long             | EC               | CORP              | US        |      2333 | NS      | $154887.87    | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Pathward Financial Inc         | Pathward Financial, Inc.           | CUSIP: 59100U108<br>LEI: 5493004X52BH1NBLW813 | Long             | EC               | CORP              | US        |       882 | NS      | $62622.00     | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Virtu Financial Inc            | Virtu Financial, Inc.              | CUSIP: 928254101<br>LEI: 5493001OPW2K42CH3884 | Long             | EC               | CORP              | US        |      1637 | NS      | $54544.84     | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| EVERTEC Inc                    | EVERTEC, Inc.                      | CUSIP: 30040P103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1604 | NS      | $46660.36     | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| TG Therapeutics Inc            | TG Therapeutics, Inc.              | CUSIP: 88322Q108<br>LEI: 529900X21UKABN9NJ529 | Long             | EC               | CORP              | US        |      3014 | NS      | $89847.34     | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Dorman Products Inc            | Dorman Products, Inc.              | CUSIP: 258278100<br>LEI: 2549000O0BBUX740XR59 | Long             | EC               | CORP              | US        |       293 | NS      | $36094.67     | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Mercury Systems Inc            | Mercury Systems, Inc.              | CUSIP: 589378108<br>LEI: 549300P3B84SGK7HH679 | Long             | EC               | CORP              | US        |       816 | NS      | $59576.16     | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| ARMOUR Residential REIT Inc    | ARMOUR Residential REIT, Inc.      | CUSIP: 042315705<br>LEI: 549300K0WA0EJUX74V72 | Long             | EC               | CORP              | US        |      8971 | NS      | $158696.99    | 1.48%             |  |  |  | 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        |     36200 | PA      | $36200.19     | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| BrightSpring Health Services I | BrightSpring Health Services, Inc. | CUSIP: 10950A106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2238 | NS      | $83813.10     | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Agilysys Inc                   | Agilysys, Inc.                     | CUSIP: 00847J105<br>LEI: 5299001XWB5V3B5IPN93 | Long             | EC               | CORP              | US        |       357 | NS      | $42425.88     | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| BOFA SECURITIES, INC.          | BofA Securities, Inc.              | CUSIP: N/A<br>LEI: 549300HN4UKV1E2R3U73       | Long             | RA               | CORP              | US        |     36200 | PA      | $36200.19     | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Tootsie Roll Industries Inc    | Tootsie Roll Industries, Inc.      | CUSIP: 890516107<br>LEI: 529900SBKOV9XX4M4Q35 | Long             | EC               | CORP              | US        |      1096 | NS      | $40146.48     | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| OPENLANE Inc                   | OPENLANE, Inc.                     | CUSIP: 48238T109<br>LEI: 5493004HKD20LBSG7D03 | Long             | EC               | CORP              | US        |      2673 | NS      | $79601.94     | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Phibro Animal Health Corp      | Phibro Animal Health Corp.         | CUSIP: 71742Q106<br>LEI: 549300U24SP4AF2JUX52 | Long             | EC               | CORP              | US        |      3178 | NS      | $118730.08    | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Uniti Group Inc                | Uniti Group, Inc.                  | CUSIP: 912932100<br>LEI: 549300V3NU625PJUVA84 | Long             | EC               | CORP              | US        |     17491 | NS      | $122611.91    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Zurn Elkay Water Solutions Cor | Zurn Elkay Water Solutions Corp.   | CUSIP: 98983L108<br>LEI: 549300AM3633XDFU1Q85 | Long             | EC               | CORP              | US        |       952 | NS      | $44258.48     | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Digi International Inc         | Digi International, Inc.           | CUSIP: 253798102<br>LEI: 529900KG656HGROI4N27 | Long             | EC               | CORP              | US        |       898 | NS      | $38874.42     | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| ESCO Technologies Inc          | ESCO Technologies, Inc.            | CUSIP: 296315104<br>LEI: 5493007JJLP5MEWVDH10 | Long             | EC               | CORP              | US        |       423 | NS      | $82649.97     | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Liquidity Services Inc         | Liquidity Services, Inc.           | CUSIP: 53635B107<br>LEI: 5299002AZ4ULSAXN0G81 | Long             | EC               | CORP              | US        |      3338 | NS      | $101174.78    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Inspire Medical Systems Inc    | Inspire Medical Systems, Inc.      | CUSIP: 457730109<br>LEI: 549300XQQCQ7HCJKTW25 | Long             | EC               | CORP              | US        |       326 | NS      | $30066.98     | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Acadian Asset Management Inc   | Acadian Asset Management, Inc.     | CUSIP: 10948W103<br>LEI: 5493004FTLQNQTBOP608 | Long             | EC               | CORP              | US        |      2631 | NS      | $123657.00    | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Pacira BioSciences Inc         | Pacira BioSciences, Inc.           | CUSIP: 695127100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2444 | NS      | $63250.72     | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Veracyte Inc                   | Veracyte, Inc.                     | CUSIP: 92337F107<br>LEI: 529900ESWZRHXOW27Z37 | Long             | EC               | CORP              | US        |      1909 | NS      | $80368.90     | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Vital Farms Inc                | Vital Farms, Inc.                  | CUSIP: 92847W103<br>LEI: 549300S6NYY7ER3XOT61 | Long             | EC               | CORP              | US        |      2679 | NS      | $85567.26     | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Viavi Solutions Inc            | Viavi Solutions, Inc.              | CUSIP: 925550105<br>LEI: 5493006K3E3N1QOBF092 | Long             | EC               | CORP              | US        |      3359 | NS      | $59857.38     | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| National Vision Holdings Inc   | National Vision Holdings, Inc.     | CUSIP: 63845R107<br>LEI: 549300JHURCBLI5ROA42 | Long             | EC               | CORP              | US        |      2357 | NS      | $60857.74     | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| PriceSmart Inc                 | PriceSmart, Inc.                   | CUSIP: 741511109<br>LEI: 549300JVYOSTGVSDZS46 | Long             | EC               | CORP              | US        |       656 | NS      | $80471.52     | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Installed Building Products In | Installed Building Products, Inc.  | CUSIP: 45780R101<br>LEI: 549300I95Y9P9YM5FI86 | Long             | EC               | CORP              | US        |       188 | NS      | $48765.32     | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| EZCORP Inc                     | EZCORP, Inc.                       | CUSIP: 302301106<br>LEI: 5493003K6PG3ZQ7TUQ63 | Long             | EC               | CORP              | US        |      5464 | NS      | $106110.88    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| CSG Systems International Inc  | CSG Systems International, Inc.    | CUSIP: 126349109<br>LEI: 549300D7FJZUOHHXUA81 | Long             | EC               | CORP              | US        |      1135 | NS      | $87043.15     | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Etsy Inc                       | Etsy, Inc.                         | CUSIP: 29786A106<br>LEI: 54930089Q7XT501AEA40 | Long             | EC               | CORP              | US        |      1035 | NS      | $57380.40     | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Enviri Corp                    | Enviri Corp.                       | CUSIP: 415864107<br>LEI: KAO98FK89NPNNPQGUZ43 | Long             | EC               | CORP              | US        |      5026 | NS      | $90065.92     | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Armstrong World Industries Inc | Armstrong World Industries, Inc.   | CUSIP: 04247X102<br>LEI: KXMRXXOJ88Q45Y45MG74 | Long             | EC               | CORP              | US        |       395 | NS      | $75484.50     | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Gogo Inc                       | Gogo, Inc.                         | CUSIP: 38046C109<br>LEI: 549300VL3DIHSFHYTO04 | Long             | EC               | CORP              | US        |      8140 | NS      | $37932.40     | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| St Joe Co/The                  | St. Joe Co.                        | CUSIP: 790148100<br>LEI: 529900XVHOT3BF8PWG49 | Long             | EC               | CORP              | US        |      1720 | NS      | $102116.40    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| DigitalOcean Holdings Inc      | DigitalOcean Holdings, Inc.        | CUSIP: 25402D102<br>LEI: 549300EPISPY3RE3DL21 | Long             | EC               | CORP              | US        |      2217 | NS      | $106682.04    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Viasat Inc                     | Viasat, Inc.                       | CUSIP: 92552V100<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | EC               | CORP              | US        |      2077 | NS      | $71573.42     | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Proto Labs Inc                 | Proto Labs, Inc.                   | CUSIP: 743713109<br>LEI: 529900QHG5MGWT2WQQ09 | Long             | EC               | CORP              | US        |      1001 | NS      | $50640.59     | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Brinker International Inc      | Brinker International, Inc.        | CUSIP: 109641100<br>LEI: 52990067JY6PBGJNTG76 | Long             | EC               | CORP              | US        |       558 | NS      | $80084.16     | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Bancorp Inc/The                | Bancorp, Inc.                      | CUSIP: 05969A105<br>LEI: 894500FP2ICT1B019Y71 | Long             | EC               | CORP              | US        |      1438 | NS      | $97093.76     | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| AAR Corp                       | AAR Corp.                          | CUSIP: 000361105<br>LEI: MP76T5YQX3YK5VVAQ802 | Long             | EC               | CORP              | US        |      1078 | NS      | $89247.62     | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Calix Inc                      | Calix, Inc.                        | CUSIP: 13100M509<br>LEI: 5299002RQRZ4SXSCSJ58 | Long             | EC               | CORP              | US        |      1596 | NS      | $84476.28     | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Tidewater Inc                  | Tidewater, Inc.                    | CUSIP: 88642R109<br>LEI: 2549000JA5GRUPLMUH98 | Long             | EC               | CORP              | US        |      1782 | NS      | $90008.82     | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Clearway Energy Inc            | Clearway Energy, Inc.              | CUSIP: 18539C105<br>LEI: 549300LHAZ9HA9G3XC48 | Long             | EC               | CORP              | US        |       327 | NS      | $10274.34     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Moog Inc                       | Moog, Inc.                         | CUSIP: 615394202<br>LEI: 549300WM2I4U7OBAHG07 | Long             | EC               | CORP              | US        |       168 | NS      | $40916.40     | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| WisdomTree Inc                 | WisdomTree, Inc.                   | CUSIP: 97717P104<br>LEI: 549300WIU8IS7UFO7871 | Long             | EC               | CORP              | US        |      4433 | NS      | $54038.27     | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Boot Barn Holdings Inc         | Boot Barn Holdings, Inc.           | CUSIP: 099406100<br>LEI: 529900QE1BFMYA3N4E71 | Long             | EC               | CORP              | US        |       416 | NS      | $73411.52     | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Sezzle Inc                     | Sezzle, Inc.                       | CUSIP: 78435P105<br>LEI: 9845000CA64541AE3I35 | Long             | EC               | CORP              | US        |      1126 | NS      | $71472.85     | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Curbline Properties Corp       | Curbline Properties Corp.          | CUSIP: 23128Q101<br>LEI: 529900PGR41LH0I81I15 | Long             | EC               | CORP              | US        |      3674 | NS      | $85273.54     | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Indivior PLC                   | Indivior plc                       | CUSIP: N/A<br>LEI: 213800V3NCQTY7IED471       | Long             | EC               | CORP              | US        |      3675 | NS      | $131859.00    | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| MYR Group Inc                  | MYR Group, Inc.                    | CUSIP: 55405W104<br>LEI: 529900G1IMMZHOQ17I54 | Long             | EC               | CORP              | US        |       402 | NS      | $87837.00     | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| PDF Solutions Inc              | PDF Solutions, Inc.                | CUSIP: 693282105<br>LEI: 549300GMSP6MROFBI160 | Long             | EC               | CORP              | US        |      1194 | NS      | $34064.82     | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Sunrun Inc                     | Sunrun, Inc.                       | CUSIP: 86771W105<br>LEI: 54930007SJ77CI66U531 | Long             | EC               | CORP              | US        |      2638 | NS      | $48539.20     | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Urban Outfitters Inc           | Urban Outfitters, Inc.             | CUSIP: 917047102<br>LEI: 549300N3DUFR5U6NRN38 | Long             | EC               | CORP              | US        |      1365 | NS      | $102729.90    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| ANI Pharmaceuticals Inc        | ANI Pharmaceuticals, Inc.          | CUSIP: 00182C103<br>LEI: 5493000T6CXTND40YH31 | Long             | EC               | CORP              | US        |      1738 | NS      | $137197.72    | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| JBT Marel Corp                 | JBT Marel Corp.                    | CUSIP: 477839104<br>LEI: 5493007CT6ATBZ2L6826 | Long             | EC               | CORP              | US        |       341 | NS      | $51378.47     | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| PennyMac Mortgage Investment T | PennyMac Mortgage Investment Trust | CUSIP: 70931T103<br>LEI: 549300BSSOQO1ZWDUJ97 | Long             | EC               | CORP              | US        |      7587 | NS      | $95216.85     | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Preferred Bank/Los Angeles CA  | Preferred Bank/Los Angeles CA      | CUSIP: 740367404<br>LEI: 5493007K6HGI9G0ECX16 | Long             | EC               | CORP              | US        |       471 | NS      | $44476.53     | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| PJT Partners Inc               | PJT Partners, Inc.                 | CUSIP: 69343T107<br>LEI: 549300W3WBEQUBKYTN87 | Long             | EC               | CORP              | US        |       364 | NS      | $60860.80     | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Frontdoor Inc                  | Frontdoor, Inc.                    | CUSIP: 35905A109<br>LEI: 5493008RB0JZJI3QGZ06 | Long             | EC               | CORP              | US        |       723 | NS      | $41709.87     | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| UFP Technologies Inc           | UFP Technologies, Inc.             | CUSIP: 902673102<br>LEI: 549300RJ8LY41HS70C91 | Long             | EC               | CORP              | US        |       245 | NS      | $54397.35     | 0.51%             |  |  |  | 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