# EDGAR Filing Document

**Accession Number:** 0001064046
**File Stem:** 0001752724-25-209216
**Filing Date:** 2025-8
**Character Count:** 26923
**Document Hash:** 62807c13108df404bb5005920e486560
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-209216.hdr.sgml**: 20250827

**ACCESSION NUMBER**: 0001752724-25-209216

**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:** 251264181

**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

### Global Managed Futures Strategy Fund (Series ID: S000023531)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000069235 | 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:** Global Managed Futures Strategy Fund

- **b. EDGAR series identifier (if any):** S000023531

- **c. LEI of Series:** 549300CLOWHV203GAV04

**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:** $11353268.13

**Total Liabilities:** $83465.72

**Net Assets:** $11269802.41

**Amount of Assets Invested in Other Investment Companies:** $1667224.48

**Cash Not Reported:** $119810.44

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 0.00000000 | **1-Year:** 474.80172206 | **5-Year:** 51.96628842 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000069235 | 0.38%                | 0.00%                | 0.89%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1809.93                | $-13712.21                                 |
| Month 2  | $312.07                  | $14753.19                                  |
| Month 3  | $308.14                  | $4784.75                                   |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Guggenheim Partners Investment Management LLC | Guggenheim Strategy Fund II                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | RF                | US        |      4552 | NS      | $113258.36    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Guggenheim Partners Investment Management LLC | Guggenheim Strategy Fund III                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | RF                | US        |     89107 | NS      | $2224999.39   | 19.74%            |  |  |  | No            |                  1 | On Loan: No      |
| Guggenheim Partners Investment Management LLC | Guggenheim Variable Insurance Strategy Fund III            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | RF                | US        |    100294 | NS      | $2501335.60   | 22.20%            |  |  |  | No            |                  1 | 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        |      7274 | NS      | $73100.33     | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                                 | U.S. Treasury Bills                                        | CUSIP: 912797PZ4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    823000 | PA      | $822336.69    | 7.30%             | 2025-07-08      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                   | Australian Dollar Futures Contracts                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         6 | NC      | $4000.01      | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| South African Futures Exchange                | FTSE/JSE TOP 40 Index Futures Contracts                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | ZA        |        14 | NC      | $4404.02      | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                        | Soybean Oil Futures Contracts                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        10 | NC      | $26497.67     | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | British Pound Futures Contracts                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |        12 | NC      | $10224.40     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                        | Corn Futures Contracts                                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |         6 | NC      | $-416.91      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures US Softs                          | Cocoa Futures Contracts                                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |         3 | NC      | $2750.55      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | Canadian Dollar Futures Contracts                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |        12 | NC      | $4702.75      | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Euronext Derivatives Paris                    | CAC 40 10 Euro Index Futures Contracts                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | FR        |        -2 | NC      | $-134.36      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Montreal Exchange                             | Canadian Government 10 Year Bond Futures Contracts         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | CA        |         3 | NC      | $1638.88      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures Europe Commodities                | Brent Crude Futures Contracts                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | GB        |         4 | NC      | $-11612.84    | -0.10%            |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures US Softs                          | Cotton #2 Futures Contracts                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        11 | NC      | $1566.41      | 0.01%             |  |  |  | No            |                  1 | 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        |        -1 | NC      | $-5396.99     | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| Eurex                                         | Euro - Schatz Futures Contracts                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | CA        |        59 | NC      | $-7932.46     | -0.07%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | Euro FX Futures Contracts                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         6 | NC      | $19783.75     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | S&P 500 Index Mini Futures Contracts                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         2 | NC      | $13633.99     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | Cattle Feeder Futures Contracts                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        -1 | NC      | $-6578.15     | -0.06%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                        | U.S. Treasury 5 Year Note Futures Contracts                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |        28 | NC      | $19654.13     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Eurex                                         | DAX Index Futures Contracts                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | DE        |         1 | NC      | $6638.00      | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| New York Mercantile Exchange                  | NY Harbor ULSD Futures Contracts                           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        -1 | NC      | $4172.25      | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Meff Renta Variable (Madrid)                  | IBEX 35 Index Futures Contracts                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | ES        |         6 | NC      | $9069.31      | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                   | Japanese Yen Futures Contracts                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         6 | NC      | $1121.51      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures US Softs                          | Coffee 'C' Futures Contracts                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        -1 | NC      | $10909.35     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| London Metal Exchange                         | LME Primary Aluminum Futures Contracts                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | GB        |        -5 | NC      | $-6384.45     | -0.06%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | Live Cattle Futures Contracts                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |         6 | NC      | $11089.10     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | Lean Hogs Futures Contracts                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |         2 | NC      | $-2944.63     | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| London Metal Exchange                         | LME Lead Futures Contracts                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | GB        |        -4 | NC      | $-2087.61     | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| London Metal Exchange                         | LME Nickel Futures Contracts                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | GB        |        -3 | NC      | $1954.23      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| London Metal Exchange                         | LME Zinc Futures Contracts                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | GB        |        -1 | NC      | $-2385.84     | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures US Indices                        | MSCI Emerging Markets Index Futures Contracts              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        -2 | NC      | $-3825.80     | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| MIAX Futures Exchange                         | Red Spring Wheat Futures Contracts                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |         3 | NC      | $-2377.00     | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| New York Mercantile Exchange                  | Natural Gas Futures Contracts                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |         1 | NC      | $-2942.65     | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | Norwegian Krone Futures Contracts                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         2 | NC      | $1994.80      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | NASDAQ-100 Index Mini Futures Contracts                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         2 | NC      | $24807.54     | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | New Zealand Dollar Futures Contracts                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         7 | NC      | $4528.20      | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Eurex                                         | Euro - Bobl Futures Contracts                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | DE        |        11 | NC      | $-594.17      | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| New York Mercantile Exchange                  | Palladium Futures Contracts                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        -1 | NC      | $-12777.60    | -0.11%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | Mexican Peso Futures Contracts                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |        20 | NC      | $7813.72      | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| New York Mercantile Exchange                  | Platinum Futures Contracts                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        -7 | NC      | $-35472.55    | -0.31%            |  |  |  | No            |                  1 | On Loan: No      |
| Montreal Exchange                             | S&P/TSX 60 IX Index Futures Contracts                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | CA        |         2 | NC      | $6463.27      | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures Europe Commodities                | Low Sulphur Gas Oil Futures Contracts                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | GB        |         2 | NC      | $-2553.42     | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| BOFA SECURITIES, INC.                         | BofA Securities, Inc.                                      | CUSIP: N/A<br>LEI: 549300HN4UKV1E2R3U73       | Long             | RA               | CORP              | US        |   1164699 | PA      | $1164699.23   | 10.33%            |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC.                         | Barclays Capital, Inc.                                     | CUSIP: N/A<br>LEI: AC28XWWI3WIBK2824319       | Long             | RA               | CORP              | US        |   1206161 | PA      | $1206161.23   | 10.70%            |  |  |  | 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        |   2795278 | PA      | $2795278.14   | 24.80%            |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                   | Russell 2000 Index Mini Futures Contracts                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         2 | NC      | $1301.02      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Eurex                                         | Euro - Bund Futures Contracts                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | DE        |         3 | NC      | $-844.90      | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                        | Soybean Futures Contracts                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |       -19 | NC      | $996.25       | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures US Softs                          | Sugar #11 Futures Contracts                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        21 | NC      | $-11464.28    | -0.10%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | Swedish Krona Futures Contracts                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $1197.45      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | Swiss Franc Futures Contracts                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |        -1 | NC      | $-2047.20     | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Commodity Exchange, Inc.                      | Silver Futures Contracts                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |         1 | NC      | $-1003.10     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                        | Soybean Meal Futures Contracts                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |         6 | NC      | $-3764.08     | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Osaka Exchange                                | Tokyo Stock Price Index Futures Contracts                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | JP        |         1 | NC      | $2771.34      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                        | U.S. Treasury 2 Year Note Futures Contracts                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |         5 | NC      | $1112.78      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Singapore Exchange (was SIMEX)                | FTSE Taiwan Index Futures Contracts                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | SG        |         3 | NC      | $2519.14      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                        | U.S. Treasury 10 Year Note Futures Contracts               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |        14 | NC      | $14066.15     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                        | U.S. Treasury Long Bond Futures Contracts                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |         2 | NC      | $1700.81      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Eurex                                         | Euro STOXX 50 Index Futures Contracts                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | DE        |        -5 | NC      | $1810.96      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                        | Wheat Futures Contracts                                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        -7 | NC      | $4259.77      | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                        | U.S. Treasury Ultra Long Bond Futures Contracts            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |         1 | NC      | $1144.04      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| ASX Trade24                                   | Australian Government 10 Year Bond Futures Contracts       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | AU        |         6 | NC      | $2647.53      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| ASX Trade24                                   | Australian Government 3 Year Bond Futures Contracts        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | AU        |       -10 | NC      | $-1480.02     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures Europe Financials                 | FTSE 100 Index Futures Contracts                           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | GB        |         8 | NC      | $-10385.89    | -0.09%            |  |  |  | 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