# EDGAR Filing Document

**Accession Number:** 0001064046
**File Stem:** 0001752724-25-209201
**Filing Date:** 2025-8
**Character Count:** 25172
**Document Hash:** 24b9f2a347ce884687ec22f1e792fc39
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-209201.hdr.sgml**: 20250827

**ACCESSION NUMBER**: 0001752724-25-209201

**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:** 251264166

**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

### Electronics Fund (Series ID: S000003713)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010382 | 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:** Electronics Fund

- **b. EDGAR series identifier (if any):** S000003713

- **c. LEI of Series:** 5493000OY0S9WKUC8M88

**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:** $12730228.96

**Total Liabilities:** $58123.67

**Net Assets:** $12672105.29

**Cash Not Reported:** $0.08

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000010382 | -1.62%               | 13.69%               | 16.24%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1281156.10              | $-3198897.15                               |
| Month 2  | $117787.84               | $1136421.55                                |
| Month 3  | $80251.85                | $1638925.54                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ACM Research Inc               | ACM Research, Inc.                                   | CUSIP: 00108J109<br>LEI: 549300MCTENUWL2GJL61 | Long             | EC               | CORP              | US        |      1606 | NS      | $41595.40     | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| ASE Technology Holding Co Ltd  | ASE Technology Holding Company Ltd.                  | CUSIP: 00215W100<br>LEI: 300300GO8QHPMV87NZ73 | Long             | EC               | CORP              | TW        |     11629 | NS      | $120127.57    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Micro Devices Inc     | Advanced Micro Devices, Inc.                         | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |      4044 | NS      | $573843.60    | 4.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Allegro MicroSystems Inc       | Allegro MicroSystems, Inc.                           | CUSIP: 01749D105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2213 | NS      | $75662.47     | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Amkor Technology Inc           | Amkor Technology, Inc.                               | CUSIP: 031652100<br>LEI: 529900VHLRTKPWZJBM84 | Long             | EC               | CORP              | US        |      2619 | NS      | $54972.81     | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Analog Devices Inc             | Analog Devices, Inc.                                 | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |      1608 | NS      | $382736.16    | 3.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Materials Inc          | Applied Materials, Inc.                              | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |      2350 | NS      | $430214.50    | 3.39%             |  |  |  | No            |                  1 | On Loan: No      |
| ARM Holdings PLC               | ARM Holdings plc                                     | CUSIP: 042068205<br>LEI: 2138001E66EELTE7Y904 | Long             | EC               | CORP              | GB        |      1142 | NS      | $184707.08    | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Astera Labs Inc                | Astera Labs, Inc.                                    | CUSIP: 04626A103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1305 | NS      | $117998.10    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Axcelis Technologies Inc       | Axcelis Technologies, Inc.                           | CUSIP: 054540208<br>LEI: 529900HF9B6NL1QG9F05 | Long             | EC               | CORP              | US        |       749 | NS      | $52197.81     | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                   | Broadcom, Inc.                                       | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |      4682 | NS      | $1290593.30   | 10.18%            |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Solar Inc             | Canadian Solar, Inc.                                 | CUSIP: 136635109<br>LEI: 5493001XSC6TKMBVOM15 | Long             | EC               | CORP              | US        |     10591 | NS      | $116924.64    | 0.92%             |  |  |  | No            |                  1 | On Loan: —       |
| Cirrus Logic Inc               | Cirrus Logic, Inc.                                   | CUSIP: 172755100<br>LEI: 549300NKSJEM5ZZSSV18 | Long             | EC               | CORP              | US        |       777 | NS      | $81006.14     | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Diodes Inc                     | Diodes, Inc.                                         | CUSIP: 254543101<br>LEI: 549300XP2X1ARVH3BX23 | Long             | EC               | CORP              | US        |      1037 | NS      | $54846.93     | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Enphase Energy Inc             | Enphase Energy, Inc.                                 | CUSIP: 29355A107<br>LEI: 5493008U7KIGMI59Z314 | Long             | EC               | CORP              | US        |      1883 | NS      | $74660.95     | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Entegris Inc                   | Entegris, Inc.                                       | CUSIP: 29362U104<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | EC               | CORP              | US        |      1513 | NS      | $122023.45    | 0.96%             |  |  |  | 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        |    529680 | NS      | $529679.75    | 4.18%             |  |  |  | No            |                  1 | On Loan: No      |
| First Solar Inc                | First Solar, Inc.                                    | CUSIP: 336433107<br>LEI: 549300NPYMLM4NHTOF27 | Long             | EC               | CORP              | US        |       865 | NS      | $143192.10    | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| FormFactor Inc                 | FormFactor, Inc.                                     | CUSIP: 346375108<br>LEI: 549300YCEEO6SZD1ZR61 | Long             | EC               | CORP              | US        |      1655 | NS      | $56948.55     | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Impinj Inc                     | Impinj, Inc.                                         | CUSIP: 453204109<br>LEI: 549300M26VGKSMMWWN17 | Long             | EC               | CORP              | US        |       544 | NS      | $60422.08     | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Intel Corp                     | Intel Corp.                                          | CUSIP: 458140100<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | EC               | CORP              | US        |     15148 | NS      | $339315.20    | 2.68%             |  |  |  | No            |                  1 | On Loan: No      |
| KLA Corp                       | KLA Corp.                                            | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               | CORP              | US        |       428 | NS      | $383376.72    | 3.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Kulicke & Soffa Industries Inc | Kulicke & Soffa Industries, Inc.                     | CUSIP: 501242101<br>LEI: 529900H6BEIRBF429744 | Long             | EC               | CORP              | US        |      3360 | NS      | $116256.00    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Lam Research Corp              | Lam Research Corp.                                   | CUSIP: 512807306<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |      4105 | NS      | $399580.70    | 3.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Lattice Semiconductor Corp     | Lattice Semiconductor Corp.                          | CUSIP: 518415104<br>LEI: 549300LRBBPZDQ2II567 | Long             | EC               | CORP              | US        |      1823 | NS      | $89308.77     | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| MKS Inc                        | MKS, Inc.                                            | CUSIP: 55306N104<br>LEI: 549300KEQATBHAGVF505 | Long             | EC               | CORP              | US        |       925 | NS      | $91908.00     | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| MACOM Technology Solutions Hol | MACOM Technology Solutions Holdings, Inc.            | CUSIP: 55405Y100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       772 | NS      | $110619.88    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Marvell Technology Inc         | Marvell Technology, Inc.                             | CUSIP: 573874104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3839 | NS      | $297138.60    | 2.34%             |  |  |  | No            |                  1 | On Loan: No      |
| MaxLinear Inc                  | MaxLinear, Inc.                                      | CUSIP: 57776J100<br>LEI: 549300EMOI0SM2IY4F64 | Long             | EC               | CORP              | US        |      2764 | NS      | $39276.44     | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Microchip Technology Inc       | Microchip Technology, Inc.                           | CUSIP: 595017104<br>LEI: 5493007PTFULNYZJ1R12 | Long             | EC               | CORP              | US        |      3097 | NS      | $217935.89    | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Micron Technology Inc          | Micron Technology, Inc.                              | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |      3431 | NS      | $422870.75    | 3.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Monolithic Power Systems Inc   | Monolithic Power Systems, Inc.                       | CUSIP: 609839105<br>LEI: 529900TB7O85LSZ1XU31 | Long             | EC               | CORP              | US        |       280 | NS      | $204786.40    | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp                    | NVIDIA Corp.                                         | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |     13997 | NS      | $2211386.03   | 17.45%            |  |  |  | No            |                  1 | On Loan: No      |
| ON Semiconductor Corp          | ON Semiconductor Corp.                               | CUSIP: 682189105<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | EC               | CORP              | US        |      3056 | NS      | $160164.96    | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Onto Innovation Inc            | Onto Innovation, Inc.                                | CUSIP: 683344105<br>LEI: 254900RXZVN73CHOO062 | Long             | EC               | CORP              | US        |       772 | NS      | $77917.96     | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Power Integrations Inc         | Power Integrations, Inc.                             | CUSIP: 739276103<br>LEI: 54930085LGXSCIHD5W31 | Long             | EC               | CORP              | US        |      1073 | NS      | $59980.70     | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Qorvo Inc                      | Qorvo, Inc.                                          | CUSIP: 74736K101<br>LEI: 254900YAUJV2EUEVBR11 | Long             | EC               | CORP              | US        |      1174 | NS      | $99684.34     | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM Inc                   | QUALCOMM, Inc.                                       | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |      2893 | NS      | $460739.18    | 3.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Rambus Inc                     | Rambus, Inc.                                         | CUSIP: 750917106<br>LEI: 2549000211GDCQSLV833 | Long             | EC               | CORP              | US        |      1459 | NS      | $93405.18     | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Rigetti Computing Inc          | Rigetti Computing, Inc.                              | CUSIP: 76655K103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5502 | NS      | $65253.72     | 0.51%             |  |  |  | No            |                  1 | On Loan: —       |
| Semtech Corp                   | Semtech Corp.                                        | CUSIP: 816850101<br>LEI: 549300J7WUY317SW6O61 | Long             | EC               | CORP              | US        |      1588 | NS      | $71682.32     | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Silicon Laboratories Inc       | Silicon Laboratories, Inc.                           | CUSIP: 826919102<br>LEI: 4PRDF8Q9TDHRVZKZSZ47 | Long             | EC               | CORP              | US        |       515 | NS      | $75890.40     | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| SiTime Corp                    | SiTime Corp.                                         | CUSIP: 82982T106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       238 | NS      | $50713.04     | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Skyworks Solutions Inc         | Skyworks Solutions, Inc.                             | CUSIP: 83088M102<br>LEI: 549300WZ3ORQ2BVKBD96 | Long             | EC               | CORP              | US        |      1591 | NS      | $118561.32    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| SolarEdge Technologies Inc     | SolarEdge Technologies, Inc.                         | CUSIP: 83417M104<br>LEI: 5493000K6Y58XXPDF853 | Long             | EC               | CORP              | US        |      5682 | NS      | $115912.80    | 0.91%             |  |  |  | No            |                  1 | On Loan: —       |
| STMicroelectronics NV          | STMicroelectronics N.V.                              | CUSIP: 861012102<br>LEI: 213800Z8NOHIKRI42W10 | Long             | EC               | CORP              | US        |      4141 | NS      | $125927.81    | 0.99%             |  |  |  | No            |                  1 | On Loan: —       |
| Synaptics Inc                  | Synaptics, Inc.                                      | CUSIP: 87157D109<br>LEI: 549300AJ3LI4FWNRQX29 | Long             | EC               | CORP              | US        |       851 | NS      | $55161.82     | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| TSMC                           | Taiwan Semiconductor Manufacturing Company Ltd.      | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |       943 | NS      | $213580.07    | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Teradyne Inc                   | Teradyne, Inc.                                       | CUSIP: 880770102<br>LEI: C3X4YJ278QNZHRJULN75 | Long             | EC               | CORP              | US        |      1511 | NS      | $135869.12    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Instruments Inc          | Texas Instruments, Inc.                              | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |      2351 | NS      | $488114.62    | 3.85%             |  |  |  | No            |                  1 | On Loan: No      |
| United Microelectronics Corp   | United Microelectronics Corp.                        | CUSIP: 910873405<br>LEI: 391200YJCAGH9LF96P73 | Long             | EC               | CORP              | TW        |     14808 | NS      | $113281.20    | 0.89%             |  |  |  | No            |                  1 | On Loan: —       |
| Universal Display Corp         | Universal Display Corp.                              | CUSIP: 91347P105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       579 | NS      | $89432.34     | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Veeco Instruments Inc          | Veeco Instruments, Inc.                              | CUSIP: 922417100<br>LEI: 5493004201F72ADDZW04 | Long             | EC               | CORP              | US        |      1807 | NS      | $36718.24     | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Wolfspeed Inc                  | Wolfspeed, Inc.                                      | CUSIP: 977852102<br>LEI: 549300OGU88P3AW3TO93 | Long             | EC               | CORP              | US        |      7717 | NS      | $3077.54      | 0.02%             |  |  |  | No            |                  1 | On Loan: —       |
| Ambarella Inc                  | Ambarella, Inc.                                      | CUSIP: N/A<br>LEI: 254900XN7F4DG0CEKC02       | Long             | EC               | CORP              | US        |       951 | NS      | $62827.82     | 0.50%             |  |  |  | No            |                  1 | On Loan: —       |
| Credo Technology Group Holding | Credo Technology Group Holding Ltd.                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      1499 | NS      | $138792.41    | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| GLOBALFOUNDRIES Inc            | GLOBALFOUNDRIES, Inc.                                | CUSIP: N/A<br>LEI: 549300BA76VK784VMX48       | Long             | EC               | CORP              | US        |      1818 | NS      | $69447.60     | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Penguin Solutions Inc          | Penguin Solutions, Inc.                              | CUSIP: N/A<br>LEI: 529900RDGHQY8XKXPN14       | Long             | EC               | CORP              | US        |      1747 | NS      | $34608.07     | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Camtek Ltd/Israel              | Camtek Ltd.                                          | CUSIP: N/A<br>LEI: 5493000H80W07HCKGS43       | Long             | EC               | CORP              | US        |      1575 | NS      | $133182.00    | 1.05%             |  |  |  | No            |                  1 | On Loan: —       |
| Nova Ltd                       | Nova Ltd.                                            | CUSIP: N/A<br>LEI: 529900B2DSWE5V3SC292       | Long             | EC               | CORP              | US        |       401 | NS      | $110355.20    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML Holding NV                | ASML Holding N.V.                                    | CUSIP: N/A<br>LEI: 724500Y6DUVHQD6OXN27       | Long             | EC               | CORP              | US        |       237 | NS      | $189929.43    | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| NXP Semiconductors NV          | NXP Semiconductor N.V.                               | CUSIP: N/A<br>LEI: 724500M9BY5293JDF951       | Long             | EC               | CORP              | US        |       939 | NS      | $205162.11    | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| BOFA SECURITIES, INC.          | BofA Securities, Inc.                                | CUSIP: N/A<br>LEI: 549300HN4UKV1E2R3U73       | Long             | RA               | CORP              | US        |     23240 | PA      | $23239.78     | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC.          | Barclays Capital, Inc.                               | CUSIP: N/A<br>LEI: AC28XWWI3WIBK2824319       | Long             | RA               | CORP              | US        |     24067 | PA      | $24067.09     | 0.19%             |  |  |  | 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        |     55775 | PA      | $55775.47     | 0.44%             |  |  |  | No            |                  2 | 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