# EDGAR Filing Document

**Accession Number:** 0001064046
**File Stem:** 0001752724-23-045184
**Filing Date:** 2023-2
**Character Count:** 17161
**Document Hash:** 4d9ba69c09e071a76ce3a3bf5bbb890d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-045184.hdr.sgml**: 20230228

**ACCESSION NUMBER**: 0001752724-23-045184

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230228

**DATE AS OF CHANGE**: 20230228

**PERIOD START**: 20221231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** RYDEX VARIABLE TRUST
- **CENTRAL INDEX KEY:** 0001064046
- **IRS NUMBER:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08821
- **FILM NUMBER:** 23680502

**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

### Dow 2x Strategy Fund (Series ID: S000003753)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010422 | 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:** Dow 2x Strategy Fund

- **b. EDGAR series identifier (if any):** S000003753

- **c. LEI of Series:** 549300LZ9Q8XW2QTTN63

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

- **a. Date of fiscal year-end:** 2022-12-31

- **b. Date as of which information is reported:** 2022-12-31

**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:** $14396807.00

**Total Liabilities:** $235213.40

**Net Assets:** $14161593.60

**Cash Not Reported:** $142500.01

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000010422 | 28.90%               | 11.49%               | -8.77%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $1092462.30                                |
| Month 2  | $-124469.87              | $836460.54                                 |
| Month 3  | $7566.95                 | $-595437.20                                |

**Designated Index Information**

- **Index Name:** Dow Jones Industrial Average

- **Index Identifier:** DJINDAVG

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Walt Disney Co/The                            | Walt Disney Co.                                            | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |      1941 | NS      | $168634.08    | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp                                  | Chevron Corp.                                              | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1941 | NS      | $348390.09    | 2.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp                                | Microsoft Corp.                                            | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |      1941 | NS      | $465490.62    | 3.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems Inc                             | Cisco Systems, Inc.                                        | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |      1941 | NS      | $92469.24     | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Travelers Cos Inc/The                         | Travelers Companies, Inc.                                  | CUSIP: 89417E109<br>LEI: 549300Y650407RU8B149 | Long             | EC               | CORP              | US        |      1941 | NS      | $363918.09    | 2.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Procter & Gamble Co/The                       | Procter & Gamble Co.                                       | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |      1941 | NS      | $294177.96    | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| American Express Co                           | American Express Co.                                       | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |      1941 | NS      | $286782.75    | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson                             | Johnson & Johnson                                          | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |      1941 | NS      | $342877.65    | 2.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Co/The                              | Coca-Cola Co.                                              | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |      1941 | NS      | $123467.01    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| IBM                                           | International Business Machines Corp.                      | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |      1941 | NS      | $273467.49    | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| BARCLAYS CAPITAL INC.                         | Barclays Capital, Inc.                                     | CUSIP: N/A<br>LEI: AC28XWWI3WIBK2824319       | Long             | RA               | CORP              | US        |    500681 | PA      | $500681.09    | 3.54%             |  |  |  | No            |                  2 | On Loan: No      |
| Walmart Inc                                   | Walmart, Inc.                                              | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |      1941 | NS      | $275214.39    | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Verizon Communications Inc                    | Verizon Communications, Inc.                               | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |      1941 | NS      | $76475.40     | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Boeing Co/The                                 | Boeing Co.                                                 | CUSIP: 097023105<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | EC               | CORP              | US        |      1941 | NS      | $369741.09    | 2.61%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                                 | U.S. Treasury Bills                                        | CUSIP: 912796XR5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2300000 | PA      | $2298003.30   | 16.23%            | 2023-01-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Honeywell International Inc                   | Honeywell International, Inc.                              | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |      1941 | NS      | $415956.30    | 2.94%             |  |  |  | No            |                  1 | On Loan: No      |
| 3M Co                                         | 3M Co.                                                     | CUSIP: 88579Y101<br>LEI: LUZQVYP4VS22CLWDAR65 | Long             | EC               | CORP              | US        |      1941 | NS      | $232764.72    | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co                           | JPMorgan Chase & Co.                                       | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |      1941 | NS      | $260288.10    | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| BOFA SECURITIES, INC.                         | BofA Securities, Inc.                                      | CUSIP: N/A<br>LEI: 549300HN4UKV1E2R3U73       | Long             | RA               | CORP              | US        |    502237 | PA      | $502236.53    | 3.55%             |  |  |  | No            |                  2 | On Loan: No      |
| Visa Inc                                      | Visa, Inc.                                                 | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |      1941 | NS      | $403262.16    | 2.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Amgen Inc                                     | Amgen, Inc.                                                | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |      1941 | NS      | $509784.24    | 3.60%             |  |  |  | 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        |   1305815 | PA      | $1305814.99   | 9.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                        | Dow Jones Industrial Average Index Mini Futures Contracts  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        19 | NC      | $-18900.91    | -0.13%            |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc                        | UnitedHealth Group, Inc.                                   | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |      1941 | NS      | $1029079.38   | 7.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Dow Inc                                       | Dow, Inc.                                                  | CUSIP: 260557103<br>LEI: 5493003S21INSLK2IP73 | Long             | EC               | CORP              | US        |      1941 | NS      | $97806.99     | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Intel Corp                                    | Intel Corp.                                                | CUSIP: 458140100<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | EC               | CORP              | US        |      1941 | NS      | $51300.63     | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc                                     | Apple, Inc.                                                | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |      1941 | NS      | $252194.13    | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| McDonald's Corp                               | McDonald's Corp.                                           | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |      1941 | NS      | $511511.73    | 3.61%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP Paribas                                   | Dow Jones Industrial Average Index                         | CUSIP: N/A<br>LEI: R0MUWSFPU8MPRO8K5P83       | N/A              | DE               |  | US        |       167 | NC      | $-19914.61    | -0.14%            |  |  |  | No            |                  2 | On Loan: No      |
| Home Depot Inc/The                            | Home Depot, Inc.                                           | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |      1941 | NS      | $613084.26    | 4.33%             |  |  |  | No            |                  1 | On Loan: No      |
| NIKE Inc                                      | NIKE, Inc.                                                 | CUSIP: 654106103<br>LEI: 787RXPR0UX0O0XUXPZ81 | Long             | EC               | CORP              | US        |      1941 | NS      | $227116.41    | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co Inc                                | Merck & Company, Inc.                                      | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |      1941 | NS      | $215353.95    | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Walgreens Boots Alliance Inc                  | Walgreens Boots Alliance, Inc.                             | CUSIP: 931427108<br>LEI: 549300RPTUOIXG4LIH86 | Long             | EC               | CORP              | US        |      1941 | NS      | $72515.76     | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Caterpillar Inc                               | Caterpillar, Inc.                                          | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |      1941 | NS      | $464985.96    | 3.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Barclays Bank plc                             | Dow Jones Industrial Average Index                         | CUSIP: N/A<br>LEI: G5GSEF7VJP5I7OUK5573       | N/A              | DE               |  | US        |       309 | NC      | $-157703.88   | -1.11%            |  |  |  | No            |                  2 | 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        |         0 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Salesforce Inc                                | Salesforce, Inc.                                           | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |      1941 | NS      | $257357.19    | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Group Inc/The                   | Goldman Sachs Group, Inc.                                  | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |      1941 | NS      | $666500.58    | 4.71%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-30

**Name of Applicant:** Rydex Variable Trust

**Signature:** Jim Howley

**Name of Signer:** Jim Howley

**Title:** CFO