# EDGAR Filing Document

**Accession Number:** 0000732697
**File Stem:** 0001752724-25-191565
**Filing Date:** 2025-8
**Character Count:** 11179
**Document Hash:** ccc58a34c3dd2e701d4268054f15b8e8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-191565.hdr.sgml**: 20250818

**ACCESSION NUMBER**: 0001752724-25-191565

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250818

**DATE AS OF CHANGE**: 20250818

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ULTRA SERIES FUND
- **CENTRAL INDEX KEY:** 0000732697

**ORGANIZATION NAME:**
- **EIN:** 392004659
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04815
- **FILM NUMBER:** 251227589

**BUSINESS ADDRESS:**
- **STREET 1:** 550 SCIENCE DRIVE
- **CITY:** MADISON
- **STATE:** WI
- **ZIP:** 53711
- **BUSINESS PHONE:** 6082740300

**MAIL ADDRESS:**
- **STREET 1:** 550 SCIENCE DRIVE
- **CITY:** MADISON
- **STATE:** WI
- **ZIP:** 53711

## Series and Classes Contracts Data

### Moderate Allocation Fund (Series ID: S000020001)

| Class ID   | Class Name                        | Ticker Symbol   |
|:---|:---|:---|
| C000056079 | Moderate Allocation Fund Class I  |  |
| C000074793 | Moderate Allocation Fund Class II |  |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** ULTRA SERIES FUND

- **b. Investment Company Act file number:** 811-04815

- **c. CIK number of Registrant:** 0000732697

- **d. LEI of Registrant:** 254900JPNAJ16VJV5X45

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 550 SCIENCE DRIVE

  - **City:** MADISON

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53711

  - **Telephone number:** 608-274-0300

**Item A.2. Information about the Series.**

- **a. Name of Series:** Moderate Allocation Fund

- **b. EDGAR series identifier (if any):** S000020001

- **c. LEI of Series:** 254900W3DITR2R4CW823

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

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-06-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $105532390.92

**Total Liabilities:** $3581531.35

**Net Assets:** $101950859.57

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000056079 | -0.46%               | 2.51%                | 2.84%                |
| Class ID C000074793 | -0.48%               | 2.49%                | 2.82%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-28516.19               | $-663250.33                                |
| Month 2  | $432038.29               | $1961264.07                                |
| Month 3  | $323129.59               | $2115423.18                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| iShares MSCI Eurozone ETF                                        | iShares MSCI Eurozone ETF                                                   | CUSIP: 464286608<br>LEI: 549300Q88WD2SU6SPH06 | Long             | EC               | RF                | US        |     57090 | NS      | $3394000.50   | 3.33%             |  |  |  | No            |                  1 | On Loan: —       |
| Invesco Exchange-Traded Fund Trust - Invesco S&P 500 Quality Etf | Invesco Exchange-Traded Fund Trust - Invesco S&P 500 Quality ETF            | CUSIP: 46137V241<br>LEI: 549300CMNB8U49G4GY75 | Long             | EC               | RF                | US        |    138302 | NS      | $9855400.52   | 9.67%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Global Advisors                                     | State Street Navigator Securities Lending Government Money Market Portfolio | CUSIP: 857509301<br>LEI: 5493008BJIBKQ5KTIF74 | Long             | STIV             | RF                | US        |   3545190 | NS      | $3545190.50   | 3.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Distillate US Fundamental Stability & Value ETF                  | Distillate U.S. Fundamental Stability & Value ETF                           | CUSIP: 26922A321<br>LEI: 5493002W0E8K4UD8QD78 | Long             | EC               | RF                | US        |     66002 | NS      | $3653210.70   | 3.58%             |  |  |  | No            |                  1 | On Loan: —       |
| SPDR Portfolio Long Term Treasury ETF                            | SPDR Portfolio Long Term Treasury ETF                                       | CUSIP: 78464A664<br>LEI: 549300GYQKAMF6JUVI06 | Long             | EC               | RF                | US        |     68892 | NS      | $1831149.36   | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Energy Select Sector SPDR Fund                                   | Energy Select Sector SPDR Fund ETF                                          | CUSIP: 81369Y506<br>LEI: 54930064FLK0RD4TRU75 | Long             | EC               | RF                | US        |     23017 | NS      | $1952071.77   | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Information Technology ETF                              | Vanguard Information Technology ETF                                         | CUSIP: 92204A702<br>LEI: J2NTZGJBERBYMUMBIE74 | Long             | EC               | RF                | US        |      7875 | NS      | $5223330.00   | 5.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Madison Investors Fund                                           | Madison Investors Fund                                                      | CUSIP: 557492386<br>LEI: 5493000V85LMHCOTG216 | Long             | EC               | RF                | US        |    471426 | NS      | $14095634.50  | 13.83%            |  |  |  | No            |                  1 | On Loan: No      |
| iShares Core S&P Small-Cap ETF                                   | iShares Core S&P Small-Cap ETF                                              | CUSIP: 464287804<br>LEI: 549300BZQ17QYN750B25 | Long             | EC               | RF                | US        |     30124 | NS      | $3292251.96   | 3.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard FTSE Europe ETF                                         | Vanguard FTSE Europe ETF                                                    | CUSIP: 922042874<br>LEI: 5493000IQHGUVNGQR883 | Long             | EC               | RF                | US        |     72134 | NS      | $5590385.00   | 5.48%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Global Advisors                                     | State Street Institutional US Government Money Market Fund                  | CUSIP: 857492706<br>LEI: 549300BZ5TGIFZUZDZ37 | Long             | STIV             | RF                | US        |   3247042 | NS      | $3247041.84   | 3.18%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares 5-10 Year Investment Grade Corporate Bond ETF            | iShares 5-10 Year Investment Grade Corporate Bond ETF                       | CUSIP: 464288638<br>LEI: 549300ZJOCMXQZ0RKQ84 | Long             | EC               | RF                | US        |     34336 | NS      | $1829765.44   | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Franklin FTSE Japan ETF                                          | Franklin FTSE Japan ETF                                                     | CUSIP: 35473P744<br>LEI: 549300V7MZYC1Z30JS82 | Long             | EC               | RF                | US        |    114414 | NS      | $3678410.10   | 3.61%             |  |  |  | No            |                  1 | On Loan: —       |
| iShares MSCI Emerging Markets Asia ETF                           | iShares MSCI Emerging Markets Asia ETF                                      | CUSIP: 464286426<br>LEI: 549300QNROXHZ53JWF91 | Long             | EC               | RF                | US        |     58896 | NS      | $4861864.80   | 4.77%             |  |  |  | No            |                  1 | On Loan: —       |
| SPDR S&P Bank ETF                                                | SPDR S&P Bank ETF                                                           | CUSIP: 78464A797<br>LEI: 549300WRV3OCU6OV1X49 | Long             | EC               | RF                | US        |     55758 | NS      | $3109066.08   | 3.05%             |  |  |  | No            |                  1 | On Loan: —       |
| Schwab Intermediate-Term U.S. Treasury ETF                       | Schwab Intermediate-Term U.S. Treasury ETF                                  | CUSIP: 808524854<br>LEI: 549300LPS1K6133V2Q55 | Long             | EC               | RF                | US        |    124436 | NS      | $3114633.08   | 3.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Madison Core Bond Fund                                           | Madison Core Bond Fund                                                      | CUSIP: 557492196<br>LEI: 254900KXQJDPZNNEA190 | Long             | EC               | RF                | US        |   3080832 | NS      | $27758292.31  | 27.23%            |  |  |  | No            |                  1 | On Loan: No      |
| Madison Mid Cap Fund                                             | Madison Mid Cap Fund                                                        | CUSIP: 557492485<br>LEI: 254900GFBYFLI6QYMW95 | Long             | EC               | RF                | US        |     64915 | NS      | $1105494.57   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Janus Henderson Mortgage-Backed Securities ETF                   | Janus Henderson Mortgage-Backed Securities ETF                              | CUSIP: 47103U852<br>LEI: 549300V6TVE4ZJCDWY16 | Long             | EC               | RF                | US        |     95558 | NS      | $4304887.90   | 4.22%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-16

**Name of Applicant:** ULTRA SERIES FUND

**Signature:** Greg Hoppe

**Name of Signer:** Greg Hoppe

**Title:** Chief Financial Officer