# EDGAR Filing Document

**Accession Number:** 0000899148
**File Stem:** 0001752724-23-045097
**Filing Date:** 2023-2
**Character Count:** 46008
**Document Hash:** a01fb4630edad331be427581fac49d07
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-045097.hdr.sgml**: 20230228

**ACCESSION NUMBER**: 0001752724-23-045097

**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 SERIES FUNDS
- **CENTRAL INDEX KEY:** 0000899148
- **IRS NUMBER:** 000000000
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07584
- **FILM NUMBER:** 23680404

**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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** RYDEX DYNAMIC FUNDS
- **DATE OF NAME CHANGE:** 20170712

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** RYDEX SERIES FUNDS
- **DATE OF NAME CHANGE:** 20000229

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** RYDEX SERIES TRUST
- **DATE OF NAME CHANGE:** 19930714

## Series and Classes Contracts Data

### Guggenheim Managed Futures Strategy Fund (Series ID: S000014094)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000038557 | Class P             | RYMFX           |
| C000039064 | Class A             | RYMTX           |
| C000039065 | Class C             | RYMZX           |
| C000088408 | Institutional Class | RYIFX           |

## 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 Series Funds

- **b. Investment Company Act file number:** 811-07584

- **c. CIK number of Registrant:** 0000899148

- **d. LEI of Registrant:** 5493004D62WV1EDNTU07

- **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:** Managed Futures Strategy Fund

- **b. EDGAR series identifier (if any):** S000014094

- **c. LEI of Series:** 5493008TG2LUF83EGF33

**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:** $38473512.65

**Total Liabilities:** $203442.37

**Net Assets:** $38270070.28

**Amount of Assets Invested in Other Investment Companies:** $5038806.54

**Cash Not Reported:** $743767.34

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000039065 | 0.15%                | -5.13%               | 0.35%                |
| Class ID C000039064 | 0.23%                | -5.09%               | 0.42%                |
| Class ID C000088408 | 0.26%                | -5.05%               | 0.41%                |
| Class ID C000038557 | 0.23%                | -5.12%               | 0.41%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $11331.89                | $-43644.19                                 |
| Month 2  | $-2509.77                | $46585.54                                  |
| Month 3  | $-836.05                 | $29587.99                                  |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| J.P. MORGAN SECURITIES LLC                    | J.P. Morgan Securities LLC                                 | CUSIP: N/A<br>LEI: ZBUT11V806EZRVTWT807       | Long             | RA               | CORP              | US        |  10999676 | PA      | $10999676.43  | 28.74%            |  |  |  | No            |                  2 | 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        |      -119 | NC      | $53785.65     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| New York Mercantile Exchange                  | Platinum Futures Contracts                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |         6 | NC      | $14601.03     | 0.04%             |  |  |  | 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        |         3 | NC      | $-1005.07     | -0.00%            |  |  |  | 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      | $6197.45      | 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        |         4 | NC      | $-4859.00     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | Live Cattle Futures Contracts                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        44 | NC      | $23190.81     | 0.06%             |  |  |  | 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      | $438.59       | 0.00%             |  |  |  | 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        |         4 | NC      | $32617.50     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| New York Mercantile Exchange                  | WTI Crude Futures Contracts                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |         2 | NC      | $2154.90      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | Canadian Dollar Futures Contracts                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |        14 | NC      | $2454.30      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | British Pound Futures Contracts                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |        13 | NC      | $-14700.35    | -0.04%            |  |  |  | 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        |         6 | NC      | $3427.14      | 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        |        21 | NC      | $5405.39      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                        | Soybean Futures Contracts                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        24 | NC      | $41367.06     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                        | Oat Futures Contracts                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        -8 | NC      | $6841.60      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures US Softs                          | Sugar #11 Futures Contracts                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |       -38 | NC      | $2363.01      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                        | Hard Red Winter Wheat Futures Contracts                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |       -21 | NC      | $15455.33     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Euronext Derivatives Paris                    | Euro - Mill Wheat Futures Contracts                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | FR        |       -15 | NC      | $4658.92      | 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        |       -30 | NC      | $-27046.62    | -0.07%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | Live Cattle Futures Contracts                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |       -30 | NC      | $-19790.44    | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| Euronext Derivatives Amsterdam                | Amsterdam Index Futures Contracts                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | NL        |         6 | NC      | $-43094.32    | -0.11%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | Australian Dollar Futures Contracts                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         2 | NC      | $415.90       | 0.00%             |  |  |  | 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        |    257497 | NS      | $2482268.43   | 6.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Commodity Exchange, Inc.                      | Silver Futures Contracts                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |         6 | NC      | $21065.03     | 0.06%             |  |  |  | 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        |      -122 | NC      | $132448.23    | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| New York Mercantile Exchange                  | WTI Crude Futures Contracts                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        -1 | NC      | $-5422.55     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| New York Mercantile Exchange                  | Natural Gas Futures Contracts                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |         6 | NC      | $-26339.23    | -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        |       -52 | NC      | $-69539.90    | -0.18%            |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures US Softs                          | Sugar #11 Futures Contracts                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        16 | NC      | $12688.16     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Cboe Futures Exchange                         | CBOE Volatility Index Futures Contracts                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        -1 | NC      | $-73.47       | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures US Softs                          | Coffee 'C' Futures Contracts                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        15 | NC      | $25455.87     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Cboe Futures Exchange                         | CBOE Volatility Index Futures Contracts                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        28 | NC      | $-10280.06    | -0.03%            |  |  |  | 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        |        58 | NC      | $-63645.31    | -0.17%            |  |  |  | No            |                  2 | On Loan: No      |
| ASX Trade24                                   | SPI 200 Index Futures Contracts                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | AU        |        -3 | NC      | $2855.79      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| ICE Futures US Softs                          | Cotton #2 Futures Contracts                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        12 | NC      | $-3485.58     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| London Metal Exchange                         | LME Zinc Futures Contracts                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | GB        |        -5 | NC      | $15797.50     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Cboe Futures Exchange                         | CBOE Volatility Index Futures Contracts                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         6 | NC      | $77.08        | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | Canadian Dollar Futures Contracts                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |        -7 | NC      | $-1940.98     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Eurex                                         | Euro - OATS Futures Contracts                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | DE        |        12 | NC      | $-10246.41    | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | Japanese Yen Futures Contracts                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |        12 | NC      | $46637.61     | 0.12%             |  |  |  | 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        |        -1 | NC      | $6793.70      | 0.02%             |  |  |  | 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      | $-3015.05     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | Lean Hogs Futures Contracts                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |       -13 | NC      | $-1921.71     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| BOFA SECURITIES, INC.                         | BofA Securities, Inc.                                      | CUSIP: N/A<br>LEI: 549300HN4UKV1E2R3U73       | Long             | RA               | CORP              | US        |   4230645 | PA      | $4230644.79   | 11.05%            |  |  |  | No            |                  2 | On Loan: No      |
| ICE Futures US Indices                        | MSCI EAFE Index Futures Contracts                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -11 | NC      | $20012.07     | 0.05%             |  |  |  | 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        |       -18 | NC      | $49051.61     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| OMX Nordic Exchange Stockholm                 | OMX Stockholm 30 Index Futures Contracts                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | SE        |         7 | NC      | $-4015.56     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| ICE Endex                                     | ECX Emission Futures Contracts                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | NL        |         6 | NC      | $-42942.66    | -0.11%            |  |  |  | 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        |         6 | NC      | $26.52        | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Eurex                                         | Euro STOXX 50 Index Futures Contracts                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | DE        |        15 | NC      | $-9330.88     | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | Japanese Yen Futures Contracts                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |       -29 | NC      | $-82243.55    | -0.21%            |  |  |  | No            |                  1 | On Loan: No      |
| New York Mercantile Exchange                  | Natural Gas Futures Contracts                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |         2 | NC      | $-15325.10    | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| New York Mercantile Exchange                  | Natural Gas Futures Contracts                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |       -13 | NC      | $121883.52    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Minneapolis Grain Exchange                    | Red Spring Wheat Futures Contracts                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        15 | NC      | $5171.38      | 0.01%             |  |  |  | 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        |        10 | NC      | $-2999.49     | -0.01%            |  |  |  | No            |                  2 | 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        |         2 | NC      | $-190.88      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Guggenheim Partners Investment Management LLC | Guggenheim Strategy Fund II                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | RF                | US        |    166856 | NS      | $4011215.39   | 10.48%            |  |  |  | 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      | $640.51       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                                 | U.S. Treasury Bills                                        | CUSIP: 912796ZK8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5251000 | PA      | $5243487.77   | 13.70%            | 2023-01-17      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| London Metal Exchange                         | LME Primary Aluminum Futures Contracts                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | GB        |        10 | NC      | $-18906.75    | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                        | Wheat Futures Contracts                                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |       -22 | NC      | $2606.50      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                        | Soybean Oil Futures Contracts                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        29 | NC      | $22185.00     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Eurex                                         | Euro - BTP Italian Government Bond Futures Contracts       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | DE        |        16 | NC      | $-24037.86    | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                   | Australian Dollar Futures Contracts                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |       -13 | NC      | $-5269.04     | -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        |        -1 | NC      | $-3241.65     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| BARCLAYS CAPITAL INC.                         | Barclays Capital, Inc.                                     | CUSIP: N/A<br>LEI: AC28XWWI3WIBK2824319       | Long             | RA               | CORP              | US        |   4217542 | PA      | $4217542.36   | 11.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Cboe Futures Exchange                         | CBOE Volatility Index Futures Contracts                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         8 | NC      | $-1812.62     | -0.00%            |  |  |  | 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        |       -11 | NC      | $43327.77     | 0.11%             |  |  |  | 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        |    235195 | NS      | $5658796.41   | 14.79%            |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures US-Canadian Grains                | Canadian Canola (WCE) Futures Contracts                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | CA        |        19 | NC      | $2312.22      | 0.01%             |  |  |  | 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        |         6 | NC      | $15190.10     | 0.04%             |  |  |  | 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      | $-2403.15     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| London Metal Exchange                         | LME Lead Futures Contracts                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | GB        |        -5 | NC      | $-13340.00    | -0.03%            |  |  |  | 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        |        -2 | NC      | $8270.13      | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Eurex                                         | Euro - Bobl Futures Contracts                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | DE        |       -40 | NC      | $120724.46    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Osaka Exchange                                | Tokyo Stock Price Index Futures Contracts                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | JP        |        12 | NC      | $-75022.34    | -0.20%            |  |  |  | No            |                  1 | On Loan: No      |
| Eurex                                         | Euro - Schatz Futures Contracts                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | DE        |      -118 | NC      | $54824.17     | 0.14%             |  |  |  | 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        |        -1 | NC      | $14709.62     | 0.04%             |  |  |  | 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        |         1 | NC      | $2123.21      | 0.01%             |  |  |  | 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        |         9 | NC      | $-9403.21     | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Borsa Italiana (IDEM)                         | FTSE MIB Index Futures Contracts                           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | IT        |         1 | NC      | $-2588.60     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | Mexican Peso Futures Contracts                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |       202 | NC      | $93460.86     | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Eurex                                         | Euro - Bund Futures Contracts                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | DE        |         5 | NC      | $-22320.71    | -0.06%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | S&P MidCap 400 Index Mini Futures Contracts                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        -1 | NC      | $-3891.79     | -0.01%            |  |  |  | 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        |        13 | NC      | $-3488.28     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| ICE Futures US Softs                          | Sugar #11 Futures Contracts                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        49 | NC      | $61880.39     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | Live Cattle Futures Contracts                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        36 | NC      | $37641.11     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Eurex                                         | Euro - Bund Futures Contracts                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | DE        |       -51 | NC      | $333828.96    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                        | Soybean Meal Futures Contracts                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        22 | NC      | $40124.00     | 0.10%             |  |  |  | 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        |         3 | NC      | $-801.29      | -0.00%            |  |  |  | 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        |       -25 | NC      | $9852.17      | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Commodity Exchange, Inc.                      | Copper Futures Contracts                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |       -12 | NC      | $-16452.00    | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | CME Random Length Lumber Futures Contracts                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        -6 | NC      | $12033.37     | 0.03%             |  |  |  | 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        |       -90 | NC      | $63242.63     | 0.17%             |  |  |  | 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        |        30 | NC      | $-23359.84    | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                   | Euro FX Futures Contracts                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         2 | NC      | $2767.50      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | New Zealand Dollar Futures Contracts                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |        10 | NC      | $-2981.86     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Singapore Exchange (was SIMEX)                | SGX Iron Ore 62% Futures Contracts                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | SG        |        32 | NC      | $12096.00     | 0.03%             |  |  |  | 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        |        -2 | NC      | $-987.02      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures US Softs                          | Cotton #2 Futures Contracts                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        -1 | NC      | $1016.85      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE Endex                                     | ICE Endex Dutch TTF Natural Gas Futures Contracts          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | NL        |       -10 | NC      | $79870.92     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | British Pound Futures Contracts                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |       -33 | NC      | $18962.72     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Commodity Exchange, Inc.                      | Gold 100 oz. Futures Contracts                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |         9 | NC      | $24200.64     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | Cattle Feeder Futures Contracts                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |       -11 | NC      | $-6896.38     | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | New Zealand Dollar Futures Contracts                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |        -9 | NC      | $-1930.69     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                        | Corn Futures Contracts                                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        87 | NC      | $96568.40     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures US Softs                          | Cocoa Futures Contracts                                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        86 | NC      | $-23837.97    | -0.06%            |  |  |  | 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        |       -15 | NC      | $43027.53     | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Meff Renta Variable (Madrid)                  | IBEX 35 Index Futures Contracts                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | ES        |        -2 | NC      | $680.10       | 0.00%             |  |  |  | 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        |        -1 | NC      | $56.58        | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Osaka Exchange                                | Nikkei 225 (OSE) Index Futures Contracts                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | JP        |        -2 | NC      | $6856.00      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Eurex                                         | Euro - 30 year Bond Futures Contracts                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | DE        |         5 | NC      | $-18906.52    | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                        | Hard Red Winter Wheat Futures Contracts                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |         1 | NC      | $-1953.00     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| New York Mercantile Exchange                  | Gasoline RBOB Futures Contracts                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        10 | NC      | $88010.70     | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Eurex                                         | DAX Index Futures Contracts                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | DE        |        -1 | NC      | $6889.55      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Cboe Futures Exchange                         | CBOE Volatility Index Futures Contracts                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -29 | NC      | $1928.05      | 0.01%             |  |  |  | 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        |       -31 | NC      | $49056.42     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| New York Mercantile Exchange                  | Gasoline RBOB Futures Contracts                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        -8 | NC      | $-62012.40    | -0.16%            |  |  |  | No            |                  1 | On Loan: No      |
| London Metal Exchange                         | LME Tin Futures Contracts                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | GB        |         1 | NC      | $2309.50      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Euronext Derivatives Paris                    | Euro - Rapeseed Futures Contracts                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | FR        |       -11 | NC      | $14742.43     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | Russell 2000 Index Mini Futures Contracts                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         8 | NC      | $-1309.91     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures Europe Financials                 | Long Gilt Futures Contracts                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |        13 | NC      | $-19989.65    | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |

### Signature

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

**Name of Applicant:** Rydex Series Funds

**Signature:** Jim Howley

**Name of Signer:** Jim Howley

**Title:** CFO