# EDGAR Filing Document

**Accession Number:** 0000732697
**File Stem:** 0001752724-25-191564
**Filing Date:** 2025-8
**Character Count:** 9673
**Document Hash:** 225642c1c3ab45642a0d4062b3a37a71
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-191564.hdr.sgml**: 20250818

**ACCESSION NUMBER**: 0001752724-25-191564

**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:** 251227588

**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

### Diversified Income Fund (Series ID: S000019980)

| Class ID   | Class Name                       | Ticker Symbol   |
|:---|:---|:---|
| C000056038 | Diversified Income Fund Class I  |  |
| C000074785 | Diversified Income 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:** Diversified Income Fund

- **b. EDGAR series identifier (if any):** S000019980

- **c. LEI of Series:** 2549008KTOA5OFYKMX41

**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:** $145275784.29

**Total Liabilities:** $1135137.79

**Net Assets:** $144140646.50

**Cash Not Reported:** $16.14

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000056038 | -1.20%               | 1.63%                | 2.02%                |
| Class ID C000074785 | -1.22%               | 1.61%                | 2.00%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-513293.19              | $-1683426.17                               |
| Month 2  | $-92840.40               | $1903763.29                                |
| Month 3  | $53499.86                | $2022361.19                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Madison Covered Call ETF                              | Madison Covered Call ETF                                                    | CUSIP: 557441409<br>LEI: 5493000IABPYPS2KRC89 | Long             | EC               | RF                | US        |   1220000 | NS      | $22673700.00  | 15.73%            |  |  |  | No            |                  1 | On Loan: No      |
| Madison Aggregate Bond ETF                            | Madison Aggregate Bond ETF                                                  | CUSIP: 557441300<br>LEI: 5493000IAHAFHNP0JZ30 | Long             | EC               | RF                | US        |   1265000 | NS      | $25763749.00  | 17.87%            |  |  |  | No            |                  1 | On Loan: —       |
| Global X MLP ETF                                      | Global X MLP ETF                                                            | CUSIP: 37954Y343<br>LEI: 5493002HV8507QNNGD19 | Long             | EC               | RF                | US        |    115261 | NS      | $5786102.20   | 4.01%             |  |  |  | No            |                  1 | On Loan: —       |
| State Street Global Advisors                          | State Street Navigator Securities Lending Government Money Market Portfolio | CUSIP: 857509301<br>LEI: 5493008BJIBKQ5KTIF74 | Long             | STIV             | RF                | US        |   1088375 | NS      | $1088375.00   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage Association              | Government National Mortgage Association                                    | CUSIP: 36202DMR9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      6059 | PA      | $6312.46      | 0.00%             | 2031-04-20      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Madison Dividend Value ETF                            | Madison Dividend Value ETF                                                  | CUSIP: 557441508<br>LEI: 5493000IABVCBRPOIQ09 | Long             | EC               | RF                | US        |   1235000 | NS      | $27396499.00  | 19.01%            |  |  |  | No            |                  1 | On Loan: —       |
| State Street Global Advisors                          | State Street Institutional US Government Money Market Fund                  | CUSIP: 857492706<br>LEI: 549300BZ5TGIFZUZDZ37 | Long             | STIV             | RF                | US        |    916031 | NS      | $916030.93    | 0.64%             |  |  |  | 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        |     54016 | NS      | $2878512.64   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Madison Short-Term Strategic Income ETF               | Madison Short-Term Strategic Income ETF                                     | CUSIP: 557441201<br>LEI: 5493000IALOEBWLDVK15 | Long             | EC               | RF                | US        |   1562500 | NS      | $32225156.25  | 22.36%            |  |  |  | No            |                  1 | On Loan: —       |
| Fannie Mae                                            | Federal National Mortgage Association                                       | CUSIP: 31390FC49<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       793 | PA      | $835.64       | 0.00%             | 2032-05-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                           | Federal Home Loan Mortgage Corp.                                            | CUSIP: 31292HDJ0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      3014 | PA      | $3146.67      | 0.00%             | 2030-06-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| SPDR Portfolio High Yield Bond ETF                    | SPDR Portfolio High Yield Bond ETF                                          | CUSIP: 78468R606<br>LEI: N/A                  | Long             | EC               | RF                | US        |    608301 | NS      | $14477563.80  | 10.04%            |  |  |  | No            |                  1 | On Loan: —       |
| Fannie Mae                                            | Federal National Mortgage Association                                       | CUSIP: 31388K3Y6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      6212 | PA      | $6547.38      | 0.00%             | 2031-11-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Schwab US Dividend Equity ETF                         | Schwab U.S. Dividend Equity ETF                                             | CUSIP: 808524797<br>LEI: 549300MUIMRQQDWJ5226 | Long             | EC               | RF                | US        |    186851 | NS      | $4951551.50   | 3.44%             |  |  |  | No            |                  1 | On Loan: —       |
| Janus Henderson Mortgage-Backed Securities ETF        | Janus Henderson Mortgage-Backed Securities ETF                              | CUSIP: 47103U852<br>LEI: 549300V6TVE4ZJCDWY16 | Long             | EC               | RF                | US        |    157638 | NS      | $7101591.90   | 4.93%             |  |  |  | No            |                  1 | On Loan: —       |

### Signature

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

**Name of Applicant:** ULTRA SERIES FUND

**Signature:** Greg Hoppe

**Name of Signer:** Greg Hoppe

**Title:** Chief Financial Officer