# EDGAR Filing Document

**Accession Number:** 0001064046
**File Stem:** 0001752724-25-209228
**Filing Date:** 2025-8
**Character Count:** 32119
**Document Hash:** 0b1749c915aea736825a3f00ef2244a5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-209228.hdr.sgml**: 20250827

**ACCESSION NUMBER**: 0001752724-25-209228

**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:** 251264194

**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 MidCap 400 Pure Value Fund (Series ID: S000003742)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010411 | 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 MidCap 400 Pure Value Fund

- **b. EDGAR series identifier (if any):** S000003742

- **c. LEI of Series:** 549300G7PIXHUXRFK191

**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:** $6425114.89

**Total Liabilities:** $23791.26

**Net Assets:** $6401323.63

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000010411 | -4.60%               | 6.60%                | 4.58%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-108268.47              | $-270610.42                                |
| Month 2  | $43849.73                | $331439.97                                 |
| Month 3  | $70266.30                | $268233.73                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AGCO Corp                      | AGCO Corp.                                           | CUSIP: 001084102<br>LEI: LYOM0B2GCF1JWXK5ZG04 | Long             | EC               | CORP              | US        |       728 | NS      | $75100.48     | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Acadia Healthcare Co Inc       | Acadia Healthcare Company, Inc.                      | CUSIP: 00404A109<br>LEI: 5493005CW985Y9D0NC11 | Long             | EC               | CORP              | US        |      1614 | NS      | $36621.66     | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Albertsons Cos Inc             | Albertsons Companies, Inc.                           | CUSIP: 013091103<br>LEI: 549300YKWOC0AOR16R51 | Long             | EC               | CORP              | US        |      5071 | NS      | $109077.21    | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Ally Financial Inc             | Ally Financial, Inc.                                 | CUSIP: 02005N100<br>LEI: 549300JBN1OSM8YNAI90 | Long             | EC               | CORP              | US        |      1830 | NS      | $71278.50     | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Amkor Technology Inc           | Amkor Technology, Inc.                               | CUSIP: 031652100<br>LEI: 529900VHLRTKPWZJBM84 | Long             | EC               | CORP              | US        |      1908 | NS      | $40048.92     | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Aramark                        | Aramark                                              | CUSIP: 03852U106<br>LEI: 549300MR6PG2DWZUIL39 | Long             | EC               | CORP              | US        |      1016 | NS      | $42539.92     | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Arrow Electronics Inc          | Arrow Electronics, Inc.                              | CUSIP: 042735100<br>LEI: 549300YNNLBXT8N8R512 | Long             | EC               | CORP              | US        |      1536 | NS      | $195732.48    | 3.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Ashland Inc                    | Ashland, Inc.                                        | CUSIP: 044186104<br>LEI: 529900E4L9R04SB8HB11 | Long             | EC               | CORP              | US        |       583 | NS      | $29313.24     | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Associated Banc-Corp           | Associated Banc-Corp.                                | CUSIP: 045487105<br>LEI: 549300N3CIN473IW5094 | Long             | EC               | CORP              | US        |      2198 | NS      | $53609.22     | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| AutoNation Inc                 | AutoNation, Inc.                                     | CUSIP: 05329W102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       708 | NS      | $140644.20    | 2.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Avis Budget Group Inc          | Avis Budget Group, Inc.                              | CUSIP: 053774105<br>LEI: 529900E95812SYWMCE44 | Long             | EC               | CORP              | US        |       909 | NS      | $153666.45    | 2.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Avnet Inc                      | Avnet, Inc.                                          | CUSIP: 053807103<br>LEI: XJI53DCPL7QABOWK4Z75 | Long             | EC               | CORP              | US        |      3698 | NS      | $196289.84    | 3.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank OZK                       | Bank OZK                                             | CUSIP: 06417N103<br>LEI: 549300VYK2WBD7SST478 | Long             | EC               | CORP              | US        |       997 | NS      | $46918.82     | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| BILL Holdings Inc              | BILL Holdings, Inc.                                  | CUSIP: 090043100<br>LEI: 549300IBF9VZZIGOZW63 | Long             | EC               | CORP              | US        |      1079 | NS      | $49914.54     | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Black Hills Corp               | Black Hills Corp.                                    | CUSIP: 092113109<br>LEI: 3MGELCRSTNSAMJ962671 | Long             | EC               | CORP              | US        |       614 | NS      | $34445.40     | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Brighthouse Financial Inc      | Brighthouse Financial, Inc.                          | CUSIP: 10922N103<br>LEI: 5493003T8SZSHOGGAW52 | Long             | EC               | CORP              | US        |      2174 | NS      | $116895.98    | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| CNO Financial Group Inc        | CNO Financial Group, Inc.                            | CUSIP: 12621E103<br>LEI: 11XPYHB76MPM4Y4P2897 | Long             | EC               | CORP              | US        |      1456 | NS      | $56172.48     | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Civitas Resources Inc          | Civitas Resources, Inc.                              | CUSIP: 17888H103<br>LEI: IIVIHPH28S64K95M2381 | Long             | EC               | CORP              | US        |      2620 | NS      | $72102.40     | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Cleveland-Cliffs Inc           | Cleveland-Cliffs, Inc.                               | CUSIP: 185899101<br>LEI: 549300TM2WLI2BJMDD86 | Long             | EC               | CORP              | US        |     16714 | NS      | $127026.40    | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Commercial Metals Co           | Commercial Metals Co.                                | CUSIP: 201723103<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | EC               | CORP              | US        |       898 | NS      | $43921.18     | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Concentrix Corp                | Concentrix Corp.                                     | CUSIP: 20602D101<br>LEI: 5493000EAJN1KMPVA737 | Long             | EC               | CORP              | US        |      5358 | NS      | $283197.09    | 4.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Coty Inc                       | Coty, Inc.                                           | CUSIP: 222070203<br>LEI: 549300BO9IWPF3S48F93 | Long             | EC               | CORP              | US        |      5821 | NS      | $27067.65     | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Darling Ingredients Inc        | Darling Ingredients, Inc.                            | CUSIP: 237266101<br>LEI: L1N0SPPKS7EXZYUMZ898 | Long             | EC               | CORP              | US        |      1409 | NS      | $53457.46     | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| FNB Corp/PA                    | FNB Corp.                                            | CUSIP: 302520101<br>LEI: PCYSKIGYNYFDTBLVZU83 | Long             | EC               | CORP              | US        |      3324 | NS      | $48463.92     | 0.76%             |  |  |  | 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        |     38944 | NS      | $38943.50     | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Financial Corp  | First American Financial Corp.                       | CUSIP: 31847R102<br>LEI: 549300B6VEZK3N0A1P55 | Long             | EC               | CORP              | US        |       668 | NS      | $41008.52     | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Fluor Corp                     | Fluor Corp.                                          | CUSIP: 343412102<br>LEI: CQ7WZ4NOFWT7FAE6Q943 | Long             | EC               | CORP              | US        |       678 | NS      | $34761.06     | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| GXO Logistics Inc              | GXO Logistics, Inc.                                  | CUSIP: 36262G101<br>LEI: 5493007CNWMXN78JRN66 | Long             | EC               | CORP              | US        |      1025 | NS      | $49917.50     | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Gap Inc/The                    | Gap, Inc.                                            | CUSIP: 364760108<br>LEI: T2ZG1WRWZ4BUCMQL9224 | Long             | EC               | CORP              | US        |      2241 | NS      | $48876.21     | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Goodyear Tire & Rubber Co/The  | Goodyear Tire & Rubber Co.                           | CUSIP: 382550101<br>LEI: 5493002BI0S2ZQUY3437 | Long             | EC               | CORP              | US        |     21518 | NS      | $223141.66    | 3.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Graham Holdings Co             | Graham Holdings Co.                                  | CUSIP: 384637104<br>LEI: 529900BOSCEEEMAFQJ29 | Long             | EC               | CORP              | US        |       101 | NS      | $95563.17     | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Greif Inc                      | Greif, Inc.                                          | CUSIP: 397624107<br>LEI: 54930070FVGKR0Z1FI24 | Long             | EC               | CORP              | US        |      1196 | NS      | $77728.04     | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| HF Sinclair Corp               | HF Sinclair Corp.                                    | CUSIP: 403949100<br>LEI: 2549009G116AM01XHN24 | Long             | EC               | CORP              | US        |      5590 | NS      | $229637.20    | 3.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Hanover Insurance Group Inc/Th | Hanover Insurance Group, Inc.                        | CUSIP: 410867105<br>LEI: JJYR6MFKFF6CF8DBZ078 | Long             | EC               | CORP              | US        |       242 | NS      | $41108.54     | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Harley-Davidson Inc            | Harley-Davidson, Inc.                                | CUSIP: 412822108<br>LEI: ZDNAWZWXIKMWI51R2A08 | Long             | EC               | CORP              | US        |      2496 | NS      | $58905.60     | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Insperity Inc                  | Insperity, Inc.                                      | CUSIP: 45778Q107<br>LEI: 5299000Q0KW7HY5DB751 | Long             | EC               | CORP              | US        |       564 | NS      | $33907.68     | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Kemper Corp                    | Kemper Corp.                                         | CUSIP: 488401100<br>LEI: 549300FNI1JKTRY2PV09 | Long             | EC               | CORP              | US        |       718 | NS      | $46339.72     | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Kilroy Realty Corp             | Kilroy Realty Corp.                                  | CUSIP: 49427F108<br>LEI: 549300CXXI18B214UN80 | Long             | EC               | CORP              | US        |      1463 | NS      | $50195.53     | 0.78%             |  |  |  | No            |                  1 | On Loan: —       |
| Knight-Swift Transportation Ho | Knight-Swift Transportation Holdings, Inc.           | CUSIP: 499049104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       784 | NS      | $34676.32     | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Lear Corp                      | Lear Corp.                                           | CUSIP: 521865204<br>LEI: 549300UPNBTXA1SYTQ33 | Long             | EC               | CORP              | US        |      1806 | NS      | $171533.88    | 2.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Lithia Motors Inc              | Lithia Motors, Inc.                                  | CUSIP: 536797103<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | EC               | CORP              | US        |       411 | NS      | $138844.02    | 2.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Macy's Inc                     | Macy's, Inc.                                         | CUSIP: 55616P104<br>LEI: 529900NZQ81TIOW3CW52 | Long             | EC               | CORP              | US        |     11237 | NS      | $131023.42    | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| ManpowerGroup Inc              | ManpowerGroup, Inc.                                  | CUSIP: 56418H100<br>LEI: ERO1WSFOSR0JJ6CRQ987 | Long             | EC               | CORP              | US        |      2578 | NS      | $104151.20    | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Marriott Vacations Worldwide C | Marriott Vacations Worldwide Corp.                   | CUSIP: 57164Y107<br>LEI: 549300WA6BT5H4F7IO94 | Long             | EC               | CORP              | US        |       556 | NS      | $40204.36     | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Maximus Inc                    | Maximus, Inc.                                        | CUSIP: 577933104<br>LEI: 549300DQCDS8HJ7QF202 | Long             | EC               | CORP              | US        |       515 | NS      | $36153.00     | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Murphy Oil Corp                | Murphy Oil Corp.                                     | CUSIP: 626717102<br>LEI: QBKYQD0ODE7DC7PDIN91 | Long             | EC               | CORP              | US        |      2821 | NS      | $63472.50     | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| NOV Inc                        | NOV, Inc.                                            | CUSIP: 62955J103<br>LEI: 549300EHF3IW1AR6U008 | Long             | EC               | CORP              | US        |      7654 | NS      | $95139.22     | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Northwestern Energy Group Inc  | Northwestern Energy Group, Inc.                      | CUSIP: 668074305<br>LEI: 254900N1WG46G1VMDM34 | Long             | EC               | CORP              | US        |       864 | NS      | $44323.20     | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Chord Energy Corp              | Chord Energy Corp.                                   | CUSIP: 674215207<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | EC               | CORP              | US        |       769 | NS      | $74477.65     | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Old Republic International Cor | Old Republic International Corp.                     | CUSIP: 680223104<br>LEI: 549300IV6O2YY2A1KH37 | Long             | EC               | CORP              | US        |      1239 | NS      | $47627.16     | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Olin Corp                      | Olin Corp.                                           | CUSIP: 680665205<br>LEI: 549300GKK294V7W57P06 | Long             | EC               | CORP              | US        |      1009 | NS      | $20270.81     | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Oshkosh Corp                   | Oshkosh Corp.                                        | CUSIP: 688239201<br>LEI: 549300FEKNPCFSA2B506 | Long             | EC               | CORP              | US        |       648 | NS      | $73573.92     | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Ovintiv Inc                    | Ovintiv, Inc.                                        | CUSIP: 69047Q102<br>LEI: 2549003MEX7YMKLGI239 | Long             | EC               | CORP              | US        |      1691 | NS      | $64342.55     | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| PBF Energy Inc                 | PBF Energy, Inc.                                     | CUSIP: 69318G106<br>LEI: 2549003PBEDCSZMZIY02 | Long             | EC               | CORP              | US        |      7150 | NS      | $154940.50    | 2.42%             |  |  |  | No            |                  1 | On Loan: No      |
| PVH Corp                       | PVH Corp.                                            | CUSIP: 693656100<br>LEI: 123WALMHY1GZXG2YDL90 | Long             | EC               | CORP              | US        |       895 | NS      | $61397.00     | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Penske Automotive Group Inc    | Penske Automotive Group, Inc.                        | CUSIP: 70959W103<br>LEI: 549300W7UTQ0M4C7LB15 | Long             | EC               | CORP              | US        |       742 | NS      | $127483.02    | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Performance Food Group Co      | Performance Food Group Co.                           | CUSIP: 71377A103<br>LEI: 549300EUK8GR9IT1YK57 | Long             | EC               | CORP              | US        |      1302 | NS      | $113885.94    | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Polaris Inc                    | Polaris, Inc.                                        | CUSIP: 731068102<br>LEI: 549300QJSN8UVWN1EI78 | Long             | EC               | CORP              | US        |      1079 | NS      | $43861.35     | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Portland General Electric Co   | Portland General Electric Co.                        | CUSIP: 736508847<br>LEI: GJOUP9M7C39GLSK9R870 | Long             | EC               | CORP              | US        |      1006 | NS      | $40873.78     | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Prosperity Bancshares Inc      | Prosperity Bancshares, Inc.                          | CUSIP: 743606105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       472 | NS      | $33153.28     | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Reinsurance Group of America I | Reinsurance Group of America, Inc.                   | CUSIP: 759351604<br>LEI: LORM1GNEU1DKEW527V90 | Long             | EC               | CORP              | US        |       399 | NS      | $79145.64     | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Sonoco Products Co             | Sonoco Products Co.                                  | CUSIP: 835495102<br>LEI: GKOMIK4RDJGHEF0VNP11 | Long             | EC               | CORP              | US        |       953 | NS      | $41512.68     | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Southwest Gas Holdings Inc     | Southwest Gas Holdings, Inc.                         | CUSIP: 844895102<br>LEI: 254900LKF9EV0CUKNE09 | Long             | EC               | CORP              | US        |       568 | NS      | $42253.52     | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Spire Inc                      | Spire, Inc.                                          | CUSIP: 84857L101<br>LEI: 549300NXSY15DRY2R511 | Long             | EC               | CORP              | US        |       587 | NS      | $42845.13     | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Starwood Property Trust Inc    | Starwood Property Trust, Inc.                        | CUSIP: 85571B105<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | EC               | CORP              | US        |      1892 | NS      | $37972.44     | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| TD SYNNEX Corp                 | TD SYNNEX Corp.                                      | CUSIP: 87162W100<br>LEI: 5493004HI6PFLF46NS53 | Long             | EC               | CORP              | US        |      1413 | NS      | $191744.10    | 3.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Taylor Morrison Home Corp      | Taylor Morrison Home Corp.                           | CUSIP: 87724P106<br>LEI: 5299009UDLLGLKOOJE30 | Long             | EC               | CORP              | US        |       975 | NS      | $59884.50     | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Terex Corp                     | Terex Corp.                                          | CUSIP: 880779103<br>LEI: YAWJZJYEQ7M1SYMOS462 | Long             | EC               | CORP              | US        |      1251 | NS      | $58409.19     | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Thor Industries Inc            | Thor Industries, Inc.                                | CUSIP: 885160101<br>LEI: 254900XZO1228PDSG060 | Long             | EC               | CORP              | US        |       853 | NS      | $75754.93     | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| UGI Corp                       | UGI Corp.                                            | CUSIP: 902681105<br>LEI: DX6GCWD4Q1JO9CRE5I40 | Long             | EC               | CORP              | US        |      2063 | NS      | $75134.46     | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Under Armour Inc               | Under Armour, Inc.                                   | CUSIP: 904311107<br>LEI: 549300D4549QKWETZ406 | Long             | EC               | CORP              | US        |      2452 | NS      | $16747.16     | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Under Armour Inc               | Under Armour, Inc.                                   | CUSIP: 904311206<br>LEI: 549300D4549QKWETZ406 | Long             | EC               | CORP              | US        |      1706 | NS      | $11071.94     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| US Foods Holding Corp          | US Foods Holding Corp.                               | CUSIP: 912008109<br>LEI: 549300UGOZSO64CFPR97 | Long             | EC               | CORP              | US        |      1013 | NS      | $78011.13     | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Unum Group                     | Unum Group                                           | CUSIP: 91529Y106<br>LEI: 549300E32YFDO6TZ8R31 | Long             | EC               | CORP              | US        |       849 | NS      | $68565.24     | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Valley National Bancorp        | Valley National Bancorp                              | CUSIP: 919794107<br>LEI: 549300ET52S1UBIB9762 | Long             | EC               | CORP              | US        |      7554 | NS      | $67457.22     | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Visteon Corp                   | Visteon Corp.                                        | CUSIP: 92839U206<br>LEI: 549300MOVLYHRW4GGW78 | Long             | EC               | CORP              | US        |       655 | NS      | $61111.50     | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| WESCO International Inc        | WESCO International, Inc.                            | CUSIP: 95082P105<br>LEI: 529900TXOGREY3WNJ434 | Long             | EC               | CORP              | US        |       453 | NS      | $83895.60     | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Whirlpool Corp                 | Whirlpool Corp.                                      | CUSIP: 963320106<br>LEI: WHENKOULSSK7WUM60H03 | Long             | EC               | CORP              | US        |      1070 | NS      | $108519.40    | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Capri Holdings Ltd             | Capri Holdings Ltd.                                  | CUSIP: N/A<br>LEI: 549300LPG8W0H1OX3A26       | Long             | EC               | CORP              | US        |      2733 | NS      | $48374.10     | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Essent Group Ltd               | Essent Group Ltd.                                    | CUSIP: N/A<br>LEI: 254900QUO860OUT6ZF83       | Long             | EC               | CORP              | US        |       782 | NS      | $47490.86     | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Perrigo Co PLC                 | Perrigo Company plc                                  | CUSIP: N/A<br>LEI: 549300IFOQS6R1QLY196       | Long             | EC               | CORP              | US        |      3825 | NS      | $102204.00    | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| CNH Industrial NV              | CNH Industrial N.V.                                  | CUSIP: N/A<br>LEI: 549300WGC2HZ5J67V817       | Long             | EC               | CORP              | US        |      4679 | NS      | $60639.84     | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| BOFA SECURITIES, INC.          | BofA Securities, Inc.                                | CUSIP: N/A<br>LEI: 549300HN4UKV1E2R3U73       | Long             | RA               | CORP              | US        |     10465 | PA      | $10464.60     | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC.          | Barclays Capital, Inc.                               | CUSIP: N/A<br>LEI: AC28XWWI3WIBK2824319       | Long             | RA               | CORP              | US        |     10837 | PA      | $10837.13     | 0.17%             |  |  |  | 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        |     25115 | PA      | $25115.05     | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Flex Ltd                       | Flex Ltd.                                            | CUSIP: N/A<br>LEI: 549300EAQH74YHD07T53       | Long             | EC               | CORP              | US        |      1246 | NS      | $62200.32     | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

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

**Name of Applicant:** Rydex Variable Trust

**Signature:** James Howley

**Name of Signer:** James Howley

**Title:** CFO