# EDGAR Filing Document

**Accession Number:** 0000899148
**File Stem:** 0000913181-25-000383
**Filing Date:** 2025-12
**Character Count:** 23716
**Document Hash:** c5b45a35fb9388f407c87b5767d42eba
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000913181-25-000383.hdr.sgml**: 20251201

**ACCESSION NUMBER**: 0000913181-25-000383

**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:** 251538254

**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

### Emerging Markets 2x Strategy Fund (Series ID: S000018291)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000050422 | Class A      | RYWTX           |
| C000050423 | Class C      | RYWUX           |
| C000050424 | Class H      | RYWVX           |

## 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:** Emerging Markets 2x Strategy Fund

- **b. EDGAR series identifier (if any):** S000018291

- **c. LEI of Series:** 549300H4ZUX6MBXRD994

**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:** $11826874.38

**Total Liabilities:** $43159.26

**Net Assets:** $11783715.12

**Cash Not Reported:** $2959696.66

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000050424 | 3.64%                | 4.91%                | 26.63%               |
| Class ID C000050423 | 3.58%                | 4.86%                | 26.59%               |
| Class ID C000050422 | 3.67%                | 4.94%                | 26.65%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $177052.01                                 |
| Month 2  | $658081.80               | $-617809.95                                |
| Month 3  | $171.68                  | $475601.22                                 |

**Designated Index Information**

- **Index Name:** BNY Mellon Emerging Markets 50 ADR Index

- **Index Identifier:** SPBKTEMG

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Itau Unibanco Holding SA       | Itau Unibanco Holding S.A.                                               | CUSIP: 465562106<br>LEI: 5493002W2IVG62O3ZJ94 | Long             | EP               | CORP              | BR        |     13303 | NS      | $97644.02     | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Shinhan Financial Group Co Ltd | Shinhan Financial Group Company Ltd.                                     | CUSIP: 824596100<br>LEI: 988400EB8A6G49E5KO54 | Long             | EC               | CORP              | KR        |      1151 | NS      | $57975.87     | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| JD.com Inc                     | JD.com, Inc.                                                             | CUSIP: 47215P106<br>LEI: 549300HVTWB0GJZ16V92 | Long             | EC               | CORP              | KY        |      3617 | NS      | $126522.66    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| BeOne Medicines Ltd            | BeOne Medicines Ltd.                                                     | CUSIP: 07725L102<br>LEI: 549300JFUK6FRD5MH739 | Long             | EC               | CORP              | CH        |       181 | NS      | $61666.70     | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Bilibili Inc                   | Bilibili, Inc.                                                           | CUSIP: 090040106<br>LEI: 5493008V60M52L3PIS45 | Long             | EC               | CORP              | KY        |       720 | NS      | $20224.80     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Li Auto Inc                    | Li Auto, Inc.                                                            | CUSIP: 50202M102<br>LEI: 2549003R73Q70J5H4I65 | Long             | EC               | CORP              | KY        |      1492 | NS      | $37807.28     | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| NIO Inc                        | NIO, Inc.                                                                | CUSIP: 62914V106<br>LEI: 549300JBU4TV5OCKJV96 | Long             | EC               | CORP              | KY        |      3871 | NS      | $29497.02     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Infosys Ltd                    | Infosys Ltd.                                                             | CUSIP: 456788108<br>LEI: 335800TYLGG93MM7PR89 | Long             | EC               | CORP              | IN        |      8813 | NS      | $143387.51    | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| ICICI Bank Ltd                 | ICICI Bank Ltd.                                                          | CUSIP: 45104G104<br>LEI: R7RX8ER1V4666J8D1I38 | Long             | EC               | CORP              | IN        |      6364 | NS      | $192383.72    | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP Paribas                    | S&P Emerging 50 ADR Index                                                | CUSIP: N/A<br>LEI: R0MUWSFPU8MPRO8K5P83       | N/A              | DE               |  | US        |      1743 | NC      | $6553.71      | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Cia de Saneamento Basico do Es | Cia de Saneamento Basico do Estado de Sao Paulo SABESP                   | CUSIP: 20441A102<br>LEI: 254900UOXRZRS2TNWP19 | Long             | EC               | CORP              | BR        |      1143 | NS      | $28449.27     | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco Bradesco SA              | Banco Bradesco S.A.                                                      | CUSIP: 059460303<br>LEI: 549300CTUU1RFXHQJE44 | Long             | EC               | CORP              | BR        |     13197 | NS      | $44605.86     | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Wipro Ltd                      | Wipro Ltd.                                                               | CUSIP: 97651M109<br>LEI: 335800IFS1IJHESG8362 | Long             | EC               | CORP              | IN        |      7587 | NS      | $19953.81     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| TSMC                           | Taiwan Semiconductor Manufacturing Company Ltd.                          | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |      3437 | NS      | $959919.73    | 8.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Kanzhun Ltd                    | Kanzhun Ltd.                                                             | CUSIP: 48553T106<br>LEI: 254900F4ZCBITP7L0251 | Long             | EC               | CORP              | KY        |       922 | NS      | $21537.92     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| KE Holdings Inc                | KE Holdings, Inc.                                                        | CUSIP: 482497104<br>LEI: 254900RHVY072XPAZE03 | Long             | EC               | CORP              | KY        |      1655 | NS      | $31445.00     | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| HDFC Bank Ltd                  | HDFC Bank Ltd.                                                           | CUSIP: 40415F101<br>LEI: 335800ZQ6I4E2JXENC50 | Long             | EC               | CORP              | IN        |      8876 | NS      | $303204.16    | 2.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Vale SA                        | Vale S.A.                                                                | CUSIP: 91912E105<br>LEI: 254900SMTWBX7RU2SR20 | Long             | EC               | CORP              | BR        |      8949 | NS      | $97186.14     | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Korea Electric Power Corp      | Korea Electric Power Corp.                                               | CUSIP: 500631106<br>LEI: 988400QG33WS7JEIV602 | Long             | EC               | CORP              | KR        |      1282 | NS      | $16730.10     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| America Movil SAB de CV        | America Movil SAB de CV                                                  | CUSIP: 02390A101<br>LEI: 5493000FNR3UCEAONM59 | Long             | EC               | CORP              | MX        |      2260 | NS      | $47460.00     | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| NetEase Inc                    | NetEase, Inc.                                                            | CUSIP: 64110W102<br>LEI: 5299004AF4DSJDB0PA32 | Long             | EC               | CORP              | KY        |       853 | NS      | $129647.47    | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Alibaba Group Holding Ltd      | Alibaba Group Holding Ltd.                                               | CUSIP: 01609W102<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | KY        |      5603 | NS      | $1001424.19   | 8.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Tencent Music Entertainment Gr | Tencent Music Entertainment Group                                        | CUSIP: 88034P109<br>LEI: 213800XTZK2GOHQTYK41 | Long             | EC               | CORP              | KY        |      1234 | NS      | $28801.56     | 0.24%             |  |  |  | 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        |   1815324 | PA      | $1815323.71   | 15.41%            |  |  |  | No            |                  2 | On Loan: No      |
| POSCO Holdings Inc             | POSCO Holdings, Inc.                                                     | CUSIP: 693483109<br>LEI: 988400E5HRVX81AYLM04 | Long             | EC               | CORP              | KR        |       751 | NS      | $36956.71     | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Trip.com Group Ltd             | Trip.com Group Ltd.                                                      | CUSIP: 89677Q107<br>LEI: 2549004RMYDSRQL4KW41 | Long             | EC               | CORP              | KY        |      1517 | NS      | $114078.40    | 0.97%             |  |  |  | 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        |    210000 | NS      | $210000.00    | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Eletrobras SA                  | Centrais Eletricas Brasileiras S.A.                                      | CUSIP: 15234Q207<br>LEI: 254900I8KYDELP4B4Z08 | Long             | EC               | CORP              | BR        |      2278 | NS      | $22597.76     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco de Chile                 | Banco de Chile                                                           | CUSIP: 059520106<br>LEI: 8B4EZFY8IHJC44TT2K84 | Long             | EC               | CORP              | CL        |       580 | NS      | $17574.00     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Fomento Economico Mexicano SAB | Fomento Economico Mexicano SAB de CV                                     | CUSIP: 344419106<br>LEI: 549300A8MDWDJNMLV153 | Long             | EC               | CORP              | MX        |       424 | NS      | $41819.12     | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| ZTO Express Cayman Inc         | ZTO Express Cayman, Inc.                                                 | CUSIP: 98980A105<br>LEI: 549300SCJPK3YZJTJR78 | Long             | EC               | CORP              | KY        |      1045 | NS      | $20064.00     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Woori Financial Group Inc      | Woori Financial Group, Inc.                                              | CUSIP: 981064108<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |       568 | NS      | $31893.20     | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs International    | S&P Emerging 50 ADR Index                                                | CUSIP: N/A<br>LEI: W22LROWP2IHZNBB6K528       | N/A              | DE               |  | US        |      2599 | NC      | $159286.09    | 1.35%             |  |  |  | No            |                  2 | On Loan: No      |
| United Microelectronics Corp   | United Microelectronics Corp.                                            | CUSIP: 910873405<br>LEI: 391200YJCAGH9LF96P73 | Long             | EC               | CORP              | TW        |      5891 | NS      | $44653.78     | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Telkom Indonesia Persero Tbk P | Telkom Indonesia Persero Tbk PT                                          | CUSIP: 715684106<br>LEI: 529900M5SQZAOKV1PC81 | Long             | EC               | CORP              | ID        |      1137 | NS      | $21398.34     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| PETROBRAS                      | Petroleo Brasileiro S.A. - Petrobras                                     | CUSIP: 71654V101<br>LEI: 5493000J801JZRCMFE49 | Long             | EP               | CORP              | BR        |      5505 | NS      | $65069.10     | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| XPeng Inc                      | XPeng, Inc.                                                              | CUSIP: 98422D105<br>LEI: 549300TZNMIREMWQU857 | Long             | EC               | CORP              | KY        |      1827 | NS      | $42788.34     | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Sociedad Quimica y Minera de C | Sociedad Quimica y Minera de Chile S.A.                                  | CUSIP: 833635105<br>LEI: TJ88LXZZW5PWIN93ZC81 | Long             | EC               | CORP              | CL        |       356 | NS      | $15300.88     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Full Truck Alliance Co Ltd     | Full Truck Alliance Company Ltd.                                         | CUSIP: 35969L108<br>LEI: 984500884LB1DP8DAC57 | Long             | EC               | CORP              | KY        |      2063 | NS      | $26757.11     | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Harmony Gold Mining Co Ltd     | Harmony Gold Mining Company Ltd.                                         | CUSIP: 413216300<br>LEI: 378900986D05F0C29811 | Long             | EC               | CORP              | ZA        |      1362 | NS      | $24720.30     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Suzano SA                      | Suzano S.A.                                                              | CUSIP: 86959K105<br>LEI: 391200AW174YQSDMGG41 | Long             | EC               | CORP              | BR        |      1672 | NS      | $15716.80     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| PDD Holdings Inc               | PDD Holdings, Inc.                                                       | CUSIP: 722304102<br>LEI: 5493000573DS7005T657 | Long             | EC               | CORP              | KY        |      1616 | NS      | $213586.72    | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Cemex SAB de CV                | Cemex SAB de CV                                                          | CUSIP: 151290889<br>LEI: 549300RIG2CXWN6IV731 | Long             | EC               | CORP              | MX        |      3778 | NS      | $33964.22     | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Baidu Inc                      | Baidu, Inc.                                                              | CUSIP: 056752108<br>LEI: 254900AL64IANZYI1E02 | Long             | EC               | CORP              | KY        |       694 | NS      | $91448.38     | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Ambev SA                       | Ambev S.A.                                                               | CUSIP: 02319V103<br>LEI: 549300TH5Q6VRP8OT012 | Long             | EC               | CORP              | BR        |     10621 | NS      | $23684.83     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Dr Reddy's Laboratories Ltd    | Dr Reddy's Laboratories Ltd.                                             | CUSIP: 256135203<br>LEI: 335800OVDPY3DVZR2798 | Long             | EC               | CORP              | IN        |      1520 | NS      | $21249.60     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| KB Financial Group Inc         | KB Financial Group, Inc.                                                 | CUSIP: 48241A105<br>LEI: 529900TKE4MXG3Q6GW86 | Long             | EC               | CORP              | KR        |       885 | NS      | $73375.35     | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Embraer SA                     | Embraer S.A.                                                             | CUSIP: 29082A107<br>LEI: 549300EM51WYXFHUY333 | Long             | EC               | CORP              | BR        |       434 | NS      | $26235.30     | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| PETROBRAS                      | Petroleo Brasileiro S.A. - Petrobras                                     | CUSIP: 71654V408<br>LEI: 5493000J801JZRCMFE49 | Long             | EC               | CORP              | BR        |      4643 | NS      | $58780.38     | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| BOFA SECURITIES, INC.          | BofA Securities, Inc.                                                    | CUSIP: N/A<br>LEI: 549300HN4UKV1E2R3U73       | Long             | RA               | CORP              | US        |   1306244 | PA      | $1306244.08   | 11.09%            |  |  |  | No            |                  2 | On Loan: No      |
| Chunghwa Telecom Co Ltd        | Chunghwa Telecom Company Ltd.                                            | CUSIP: 17133Q502<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |       949 | NS      | $41395.38     | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| New Oriental Education & Techn | New Oriental Education & Technology Group, Inc.                          | CUSIP: 647581206<br>LEI: 529900NHZVBZQZ8EKN29 | Long             | EC               | CORP              | KY        |       326 | NS      | $17300.82     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Gold Fields Ltd                | Gold Fields Ltd.                                                         | CUSIP: 38059T106<br>LEI: 5299003KXIBJQYCBBD72 | Long             | EC               | CORP              | ZA        |      2234 | NS      | $93738.64     | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Grupo Aeroportuario del Pacifi | Grupo Aeroportuario del Pacifico SAB de CV                               | CUSIP: 400506101<br>LEI: 4469000001BZ368XFI90 | Long             | EC               | CORP              | MX        |       102 | NS      | $24193.38     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| ASE Technology Holding Co Ltd  | ASE Technology Holding Company Ltd.                                      | CUSIP: 00215W100<br>LEI: 300300GO8QHPMV87NZ73 | Long             | EC               | CORP              | TW        |      4359 | NS      | $48341.31     | 0.41%             |  |  |  | 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