# EDGAR Filing Document

**Accession Number:** 0000899148
**File Stem:** 0000913181-25-000367
**Filing Date:** 2025-12
**Character Count:** 20590
**Document Hash:** 6d7c8926f0315b16c39924bf12cf9e53
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000913181-25-000367.hdr.sgml**: 20251201

**ACCESSION NUMBER**: 0000913181-25-000367

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251201

**DATE AS OF CHANGE**: 20251201

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** RYDEX SERIES FUNDS
- **CENTRAL INDEX KEY:** 0000899148

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07584
- **FILM NUMBER:** 251538236

**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

### Telecommunications Fund (Series ID: S000003799)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000010582 | Investor Class | RYMIX           |
| C000010583 | Class H        | RYMAX           |
| C000010584 | Class A        | RYTLX           |
| C000010585 | Class C        | RYCSX           |

## 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:** Telecommunications Fund

- **b. EDGAR series identifier (if any):** S000003799

- **c. LEI of Series:** 549300N6G4LRE5IXJH81

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-03-31

- **b. Date as of which information is reported:** 2025-09-30

**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:** $10585024.44

**Total Liabilities:** $19755.18

**Net Assets:** $10565269.26

**Cash Not Reported:** $1005.66

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000010584 | -0.49%               | 9.16%                | 3.07%                |
| Class ID C000010585 | -0.56%               | 9.10%                | 2.99%                |
| Class ID C000010582 | -0.47%               | 9.19%                | 3.08%                |
| Class ID C000010583 | -0.48%               | 9.15%                | 3.07%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $15060.27                | $-119211.94                                |
| Month 2  | $-60308.97               | $929724.76                                 |
| Month 3  | $241628.55               | $100442.59                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| BCE Inc                        | BCE, Inc.                                                                | CUSIP: 05534B760<br>LEI: 5493001I9203PRB5KR45 | Long             | EC               | CORP              | US        |      8350 | NS      | $195306.50    | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Calix Inc                      | Calix, Inc.                                                              | CUSIP: 13100M509<br>LEI: 5299002RQRZ4SXSCSJ58 | Long             | EC               | CORP              | US        |      2169 | NS      | $133111.53    | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems Inc              | Cisco Systems, Inc.                                                      | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |     11506 | NS      | $787240.52    | 7.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Arista Networks Inc            | Arista Networks, Inc.                                                    | CUSIP: 040413205<br>LEI: 635400H1WKBLOQERUU95 | Long             | EC               | CORP              | US        |      4691 | NS      | $683525.61    | 6.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Rogers Communications Inc      | Rogers Communications, Inc.                                              | CUSIP: 775109200<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | EC               | CORP              | US        |      5083 | NS      | $175211.01    | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Ericsson                       | Telefonaktiebolaget LM Ericsson                                          | CUSIP: 294821608<br>LEI: 549300W9JLPW15XIFM52 | Long             | EC               | CORP              | SE        |     26625 | NS      | $220188.75    | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| InterDigital Inc               | InterDigital, Inc.                                                       | CUSIP: 45867G101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       338 | NS      | $116687.74    | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC     | J.P. Morgan Securities LLC                                               | CUSIP: N/A<br>LEI: ZBUT11V806EZRVTWT807       | Long             | RA               | CORP              | US        |     25877 | PA      | $25877.09     | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Viasat Inc                     | Viasat, Inc.                                                             | CUSIP: 92552V100<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | EC               | CORP              | US        |      4268 | NS      | $125052.40    | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| America Movil SAB de CV        | America Movil SAB de CV                                                  | CUSIP: 02390A101<br>LEI: 5493000FNR3UCEAONM59 | Long             | EC               | CORP              | MX        |      8957 | NS      | $188097.00    | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| BOFA SECURITIES, INC.          | BofA Securities, Inc.                                                    | CUSIP: N/A<br>LEI: 549300HN4UKV1E2R3U73       | Long             | RA               | CORP              | US        |     18620 | PA      | $18620.25     | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Nice Ltd                       | Nice Ltd.                                                                | CUSIP: 653656108<br>LEI: 254900YTY4EF5Z4W0A51 | Long             | EC               | CORP              | IL        |      1148 | NS      | $166207.44    | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Harmonic Inc                   | Harmonic, Inc.                                                           | CUSIP: 413160102<br>LEI: 549300LRGRD8XC9BTL66 | Long             | EC               | CORP              | US        |      7358 | NS      | $74904.44     | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Vodafone Group PLC             | Vodafone Group plc                                                       | CUSIP: 92857W308<br>LEI: 213800TB53ELEUKM7Q61 | Long             | EC               | CORP              | GB        |     16840 | NS      | $195344.00    | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| T-Mobile US Inc                | T-Mobile US, Inc.                                                        | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |      2221 | NS      | $531662.98    | 5.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Latin America Ltd      | Liberty Latin America Ltd.                                               | CUSIP: N/A<br>LEI: 213800YWQHEAX7CAVO83       | Long             | EC               | CORP              | US        |     10299 | NS      | $86923.56     | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Extreme Networks Inc           | Extreme Networks, Inc.                                                   | CUSIP: 30226D106<br>LEI: 549300WRECW11X94UB57 | Long             | EC               | CORP              | US        |      5281 | NS      | $109052.65    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Roku Inc                       | Roku, Inc.                                                               | CUSIP: 77543R102<br>LEI: 549300KR6ITU0YIR1T71 | Long             | EC               | CORP              | US        |      2762 | NS      | $276559.06    | 2.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Telephone & Data Systems Inc   | Telephone & Data Systems, Inc.                                           | CUSIP: 879433829<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3479 | NS      | $136515.96    | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Globalstar Inc                 | Globalstar, Inc.                                                         | CUSIP: 378973507<br>LEI: 549300NEX8I0MSOW0R64 | Long             | EC               | CORP              | US        |      2891 | NS      | $105203.49    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| AST SpaceMobile Inc            | AST SpaceMobile, Inc.                                                    | CUSIP: 00217D100<br>LEI: 254900MBSC9P2UCI6623 | Long             | EC               | CORP              | US        |      5979 | NS      | $293449.32    | 2.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Charter Communications Inc     | Charter Communications, Inc.                                             | CUSIP: 16119P108<br>LEI: 0J0XRGZE3PBRFEZ7MV65 | Long             | EC               | CORP              | US        |      1384 | NS      | $380745.32    | 3.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Verizon Communications Inc     | Verizon Communications, Inc.                                             | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |     14699 | NS      | $646021.05    | 6.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Uniti Group Inc                | Uniti Group, Inc.                                                        | CUSIP: 912932100<br>LEI: 549300V3NU625PJUVA84 | Long             | EC               | CORP              | US        |     12868 | NS      | $78752.16     | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Cogent Communications Holdings | Cogent Communications Holdings, Inc.                                     | CUSIP: 19239V302<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2589 | NS      | $99288.15     | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Frontier Communications Parent | Frontier Communications Parent, Inc.                                     | CUSIP: 35909D109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5775 | NS      | $215696.25    | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| TELUS Corp                     | TELUS Corp.                                                              | CUSIP: 87971M103<br>LEI: 894500WE70KKZRQMBU11 | Long             | EC               | CORP              | US        |     11820 | NS      | $186401.40    | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Motorola Solutions Inc         | Motorola Solutions, Inc.                                                 | CUSIP: 620076307<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | EC               | CORP              | US        |       912 | NS      | $417048.48    | 3.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Gogo Inc                       | Gogo, Inc.                                                               | CUSIP: 38046C109<br>LEI: 549300VL3DIHSFHYTO04 | Long             | EC               | CORP              | US        |      6010 | NS      | $51625.90     | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Ciena Corp                     | Ciena Corp.                                                              | CUSIP: 171779309<br>LEI: W0CZ7N0GH8UIGXDM1H41 | Long             | EC               | CORP              | US        |      2285 | NS      | $332855.95    | 3.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Viavi Solutions Inc            | Viavi Solutions, Inc.                                                    | CUSIP: 925550105<br>LEI: 5493006K3E3N1QOBF092 | Long             | EC               | CORP              | US        |      9414 | NS      | $119463.66    | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| CommScope Holding Co Inc       | CommScope Holding Company, Inc.                                          | CUSIP: 20337X109<br>LEI: 254900AW4CEPCQWSRI58 | Long             | EC               | CORP              | US        |      7961 | NS      | $123236.28    | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Iridium Communications Inc     | Iridium Communications, Inc.                                             | CUSIP: 46269C102<br>LEI: 549300U620NVQ4J1CT96 | Long             | EC               | CORP              | US        |      4996 | NS      | $87230.16     | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Dreyfus Treasury Obligations C | Dreyfus Treasury Obligations Cash Management Fund - Institutional Shares | CUSIP: N/A<br>LEI: 549300MKKM9KT7BF6329       | Long             | STIV             | RF                | US        |     16421 | NS      | $16420.71     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| NetScout Systems Inc           | NetScout Systems, Inc.                                                   | CUSIP: 64115T104<br>LEI: 5493005HZXZ3SPNVCV76 | Long             | EC               | CORP              | US        |      3644 | NS      | $94124.52     | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T Inc                       | AT&T, Inc.                                                               | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |     24444 | NS      | $690298.56    | 6.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Nokia OYJ                      | Nokia Oyj                                                                | CUSIP: 654902204<br>LEI: 549300A0JPRWG1KI7U06 | Long             | EC               | CORP              | FI        |     41965 | NS      | $201851.65    | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| GCI Liberty Inc                | GCI Liberty, Inc.                                                        | CUSIP: 36164V800<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       775 | NS      | $28884.25     | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Global Ltd             | Liberty Global Ltd.                                                      | CUSIP: N/A<br>LEI: 213800HRMKKTYH7SKA24       | Long             | EC               | CORP              | US        |     15429 | NS      | $176816.34    | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Optoelectronics Inc    | Applied Optoelectronics, Inc.                                            | CUSIP: 03823U102<br>LEI: 529900I8U6Q5SYDNLT48 | Long             | EC               | CORP              | US        |      3384 | NS      | $87747.12     | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corp                   | Comcast Corp.                                                            | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |     16558 | NS      | $520252.36    | 4.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Lumentum Holdings Inc          | Lumentum Holdings, Inc.                                                  | CUSIP: 55024U109<br>LEI: 549300JLWRRC38DWEF52 | Long             | EC               | CORP              | US        |      1451 | NS      | $236092.21    | 2.23%             |  |  |  | No            |                  1 | On Loan: No      |
| F5 Inc                         | F5, Inc.                                                                 | CUSIP: 315616102<br>LEI: 54930015FPK9KT966303 | Long             | EC               | CORP              | US        |       745 | NS      | $240776.55    | 2.28%             |  |  |  | No            |                  1 | On Loan: No      |
| EchoStar Corp                  | EchoStar Corp.                                                           | CUSIP: 278768106<br>LEI: 549300EE20907QZ9GT38 | Long             | EC               | CORP              | US        |      4092 | NS      | $312465.12    | 2.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Broadband Corp         | Liberty Broadband Corp.                                                  | CUSIP: 530307305<br>LEI: 549300MIX43II8JLN536 | Long             | EC               | CORP              | US        |      3325 | NS      | $211270.50    | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Lumen Technologies Inc         | Lumen Technologies, Inc.                                                 | CUSIP: 550241103<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | EC               | CORP              | US        |     28255 | NS      | $172920.60    | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-30

**Name of Applicant:** Rydex Series Funds

**Signature:** James Howley

**Name of Signer:** James Howley

**Title:** CFO