NPORT-P false 0001064046 XXXXXXXX S000003743 C000010412 Rydex Variable Trust 811-08821 0001064046 549300LJH0YR8RY3N305 702 King Farm Blvd., Suite 200 Rockville 20850 301-296-5100 Precious Metals Fund S000003743 5493001NS6LUPX0G6S09 2020-12-31 2020-09-30 N 25860709.97 79780.57 25780929.40 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 N IAMGOLD Corp 254900E7II30XAB9LA72 450913108 98668.00000000 NS USD 377898.44000000 1.465806116361 Long EC CORP US N 1 N N N Equinox Gold Corp 5493005IN4V1SNP9PN75 29446Y502 40229.00000000 NS USD 471081.59000000 1.827248283764 Long EC CORP US N 1 N N Eldorado Gold Corp 5493004PWQ01YDD1IH62 284902509 34980.00000000 NS USD 369039.00000000 1.431441800542 Long EC CORP CA N 1 N N N Kinross Gold Corp 549300UEBMAQDN0K0R06 496902404 107457.00000000 NS USD 947770.74000000 3.676247373766 Long EC CORP US N 1 N N N Gold Fields Ltd 5299003KXIBJQYCBBD72 38059T106 76399.00000000 NS USD 938943.71000000 3.642008771025 Long EC CORP ZA N 1 N N N Seabridge Gold Inc N/A 811916105 16741.00000000 NS USD 314395.98000000 1.219490481208 Long EC CORP US N 1 N N VanEck Vectors Junior Gold Min 549300P2HS5GYBL1ME59 92189F791 18249.00000000 NS USD 1010264.64000000 3.918650969968 Long EC RF US N 1 N N N Harmony Gold Mining Co Ltd 378900986D05F0C29811 413216300 97576.00000000 NS USD 514225.52000000 1.994596517532 Long EC CORP ZA N 1 N N N Yamana Gold Inc 54930002VY22NXG01418 98462Y100 116642.00000000 NS USD 662526.56000000 2.569831947175 Long EC CORP US N 1 N N N B2Gold Corp 549300F7OK456M5NLM05 11777Q209 112800.00000000 NS USD 735456.00000000 2.852713292795 Long EC CORP US N 1 N N N Agnico Eagle Mines Ltd YGE0EUBRF7IJOB3QRX76 008474108 15885.00000000 NS USD 1264604.85000000 4.905194961668 Long EC CORP US N 1 N N N J.P. MORGAN SECURITIES LLC ZBUT11V806EZRVTWT807 N/A 162893.10000000 PA USD 162893.10000000 0.631835638943 Long RA CORP US N 2 Repurchase Y 0.06000000 2020-10-01 161863.57000000 USD 166151.01000000 USD UST N N N Silvercorp Metals Inc 52990092RT3UCQ7G3177 82835P103 41503.00000000 NS USD 300481.72000000 1.165519347025 Long EC CORP US N 1 N N N Sandstorm Gold Ltd 549300QWJPV45VQF1B33 80013R206 41763.00000000 NS USD 352479.72000000 1.367211067262 Long EC CORP US N 1 N N N Wheaton Precious Metals Corp 549300XSFG5ZCGVYD886 962879102 27305.00000000 NS USD 1339856.35000000 5.197083197473 Long EC CORP US N 1 N N N SSR Mining Inc 549300JD2KR7AB9DYJ38 784730103 21647.00000000 NS USD 404149.49000000 1.567629637122 Long EC CORP US N 1 N N N Alamos Gold Inc 549300TDOX73YGYXE959 011532108 59615.00000000 NS USD 525208.15000000 2.037196339399 Long EC CORP US N 1 N N N Novagold Resources Inc 529900587LVZTJ2BHS60 66987E206 49185.00000000 NS USD 584809.65000000 2.268380790026 Long EC CORP US N 1 N N N Barrick Gold Corp 0O4KBQCJZX82UKGCBV73 067901108 73494.00000000 NS USD 2065916.34000000 8.013350907357 Long EC CORP US N 1 N N N Gold Resource Corp 5299006MQBYLDAOI2D32 38068T105 41048.00000000 NS USD 139973.68000000 0.542934964943 Long EC CORP US N 1 N N N BARCLAYS CAPITAL INC. AC28XWWI3WIBK2824319 N/A 61698.58000000 PA USD 61698.58000000 0.239318680264 Long RA CORP US N 2 Repurchase Y 0.06000000 2020-10-01 60504.90000000 USD 62932.77000000 USD UST N N N AngloGold Ashanti Ltd 378900EF3BA9A5F42A59 035128206 36823.00000000 NS USD 971390.74000000 3.767865482770 Long EC CORP ZA N 1 N N N First American Funds N/A N/A 769052.75000000 NS USD 769052.75000000 2.983029579996 Long STIV RF US N 1 N N Sibanye Stillwater Ltd 378900F238434B74D281 82575P107 69363.00000000 NS USD 772703.82000000 2.997191482165 Long EC CORP ZA N 1 N N N Newmont Corp 549300VSP3RIX7FGDZ51 651639106 32509.00000000 NS USD 2062696.05000000 8.000859930208 Long EC CORP US N 1 N N N SilverCrest Metals Inc 549300M4CUMXUHSXYQ10 828363101 32582.00000000 NS USD 276621.18000000 1.072968222782 Long EC CORP US N 1 N N N Pretium Resources Inc N/A 74139C102 33802.00000000 NS USD 434017.68000000 1.683483451143 Long EC CORP US N 1 N N N Coeur Mining Inc 5493003AVK173D48DR70 192108504 49451.00000000 NS USD 364948.38000000 1.415574955959 Long EC CORP US N 1 N N N MAG Silver Corp 254900LGL904N7F3EL14 55903Q104 20761.00000000 NS USD 337573.86000000 1.309393679189 Long EC CORP US N 1 N N N First Majestic Silver Corp 529900PWCU5DUH1DYR51 32076V103 38657.00000000 NS USD 368014.64000000 1.427468475981 Long EC CORP US N 1 N N Freeport-McMoRan Inc 549300IRDTHJQ1PVET45 35671D857 85013.00000000 NS USD 1329603.32000000 5.157313374435 Long EC CORP US N 1 N N N Fortuna Silver Mines Inc 5493003Q88RVK7CW4735 349915108 45011.00000000 NS USD 286269.96000000 1.110394259099 Long EC CORP US N 1 N N Hecla Mining Co 5493009Y6HOBZD1QD537 422704106 88861.00000000 NS USD 451413.88000000 1.750960459943 Long EC CORP US N 1 N N N BOFA SECURITIES, INC. 549300HN4UKV1E2R3U73 N/A 67800.64000000 PA USD 67800.64000000 0.262987570960 Long RA CORP US N 2 Repurchase Y 0.06000000 2020-10-01 67385.21000000 USD 69156.98000000 USD UST N N N Endeavour Silver Corp 549300IF2E29780PPV02 29258Y103 55864.00000000 NS USD 196082.64000000 0.760572425290 Long EC CORP US N 1 N N N Pan American Silver Corp 549300MKTF5851TYIB83 697900108 22915.00000000 NS USD 736717.25000000 2.857605474843 Long EC CORP US N 1 N N N Franco-Nevada Corp N/A 351858105 10616.00000000 NS USD 1481781.28000000 5.747586741384 Long EC CORP US N 1 N N N Kirkland Lake Gold Ltd N/A 49741E100 21546.00000000 NS USD 1049936.58000000 4.072531923538 Long EC CORP US N 1 N N N Royal Gold Inc 5493001NGRU6SFL04184 780287108 6698.00000000 NS USD 804898.66000000 3.122069990230 Long EC CORP US N 1 N N N Osisko Gold Royalties Ltd 549300TJZTXZMPQ6K004 68827L101 33080.00000000 NS USD 391336.40000000 1.517929760903 Long EC CORP US N 1 N N N 2020-10-30 Rydex Variable Trust John Sullivan John Sullivan CFO XXXX