<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/nport" xmlns:com="http://www.sec.gov/edgar/common" xmlns:ncom="http://www.sec.gov/edgar/nportcommon" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.sec.gov/edgar/nport eis_NPORT_Filer.xsd">
  <headerData>
    <submissionType>NPORT-P</submissionType>
    <isConfidential>false</isConfidential>
    <filerInfo>
      
      <filer>
        <issuerCredentials>
          <cik>0000732697</cik>
          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
      </filer>
      
      
      <seriesClassInfo>
        <seriesId>S000019111</seriesId>
        <classId>C000052854</classId>
      </seriesClassInfo>
      
      
    </filerInfo>
  </headerData>
  <formData>
    <genInfo>
      <regName>ULTRA SERIES FUND</regName>
      <regFileNumber>811-04815</regFileNumber>
      <regCik>0000732697</regCik>
      <regLei>254900JPNAJ16VJV5X45</regLei>
      <regStreet1>550 SCIENCE DRIVE</regStreet1>
      <regCity>MADISON</regCity>
      <regStateConditional regCountry="US" regState="US-WI"/>
      <regZipOrPostalCode>53711</regZipOrPostalCode>
      <regPhone>608-274-0300</regPhone>
      <seriesName>Madison Target Retirement 2030 Fund</seriesName>
      <seriesId>S000019111</seriesId>
      <seriesLei>2549004BG92C541K9K97</seriesLei>
      <repPdEnd>2026-12-31</repPdEnd>
      <repPdDate>2026-06-30</repPdDate>
      <isFinalFiling>N</isFinalFiling>
    </genInfo>
    <fundInfo>
      <totAssets>55144544.71</totAssets>
      <totLiabs>13065.55</totLiabs>
      <netAssets>55131479.16</netAssets>
      <assetsAttrMiscSec>0.00000000</assetsAttrMiscSec>
      <assetsInvested>0.00000000</assetsInvested>
      <amtPayOneYrBanksBorr>0.00000000</amtPayOneYrBanksBorr>
      <amtPayOneYrCtrldComp>0.00000000</amtPayOneYrCtrldComp>
      <amtPayOneYrOthAffil>0.00000000</amtPayOneYrOthAffil>
      <amtPayOneYrOther>0.00000000</amtPayOneYrOther>
      <amtPayAftOneYrBanksBorr>0.00000000</amtPayAftOneYrBanksBorr>
      <amtPayAftOneYrCtrldComp>0.00000000</amtPayAftOneYrCtrldComp>
      <amtPayAftOneYrOthAffil>0.00000000</amtPayAftOneYrOthAffil>
      <amtPayAftOneYrOther>0.00000000</amtPayAftOneYrOther>
      <delayDeliv>0.00000000</delayDeliv>
      <standByCommit>0.00000000</standByCommit>
      <liquidPref>0.00000000</liquidPref>
      <cshNotRptdInCorD>0.00000000</cshNotRptdInCorD>
      <isNonCashCollateral>N</isNonCashCollateral>
      <returnInfo>
        <monthlyTotReturns>
          <monthlyTotReturn classId="C000052854" rtn1="3.10000000" rtn2="2.17000000" rtn3="0.83000000"/>
        </monthlyTotReturns>
        <othMon1 netRealizedGain="124345.75000000" netUnrealizedAppr="1374130.27000000"/>
        <othMon2 netRealizedGain="406428.50000000" netUnrealizedAppr="612957.71000000"/>
        <othMon3 netRealizedGain="550952.31000000" netUnrealizedAppr="-271203.87000000"/>
      </returnInfo>
      <mon1Flow redemption="1754489.91000000" reinvestment="0.00000000" sales="274676.31000000"/>
      <mon2Flow redemption="1424102.48000000" reinvestment="0.00000000" sales="459274.42000000"/>
      <mon3Flow redemption="217998.50000000" reinvestment="97048.00000000" sales="2055492.78000000"/>
      
      
    </fundInfo>
    <invstOrSecs>
      <invstOrSec>
        <name>Avantis Emerging Markets Equity ETF</name>
        <lei>549300FLNHJ0Y6F35177</lei>
        <title>Avantis Emerging Markets Equity ETF</title>
        <cusip>025072604</cusip>
        <identifiers>
          <isin value="US0250726041"/>
        </identifiers>
        <balance>10048.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>969531.52000000</valUSD>
        <pctVal>1.758580641716</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Distillate US Fundamental Stability &amp; Value ETF</name>
        <lei>5493002W0E8K4UD8QD78</lei>
        <title>Distillate U.S. Fundamental Stability &amp; Value ETF</title>
        <cusip>26922A321</cusip>
        <identifiers>
          <isin value="US26922A3216"/>
        </identifiers>
        <balance>15624.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>935877.60000000</valUSD>
        <pctVal>1.697537621444</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Distillate Small/Mid Cash Flow ETF</name>
        <lei>549300RXDI4OKGXIK130</lei>
        <title>Distillate Small/Mid Cash Flow ETF</title>
        <cusip>26922B667</cusip>
        <identifiers>
          <isin value="US26922B6671"/>
        </identifiers>
        <balance>7636.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>308188.96000000</valUSD>
        <pctVal>0.559007239957</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TCW Flexible Income ETF</name>
        <lei>5493004ZM793OILX8W61</lei>
        <title>TCW Flexible Income ETF</title>
        <cusip>29287L700</cusip>
        <identifiers>
          <isin value="US29287L7001"/>
        </identifiers>
        <balance>72876.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2857467.96000000</valUSD>
        <pctVal>5.183006158255</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Global X US Infrastructure Development ETF</name>
        <lei>549300P5QELW9NWLDY61</lei>
        <title>Global X U.S. Infrastructure Development ETF</title>
        <cusip>37954Y673</cusip>
        <identifiers>
          <isin value="US37954Y6730"/>
        </identifiers>
        <balance>7777.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>458220.84000000</valUSD>
        <pctVal>0.831141930130</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Invesco Exchange-Traded Fund Trust - Invesco S&amp;P 500 Quality Etf</name>
        <lei>549300CMNB8U49G4GY75</lei>
        <title>Invesco Exchange-Traded Fund Trust - Invesco S&amp;P 500 Quality ETF</title>
        <cusip>46137V241</cusip>
        <identifiers>
          <isin value="US46137V2410"/>
        </identifiers>
        <balance>57373.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5169307.30000000</valUSD>
        <pctVal>9.376326154786</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>iShares MSCI Emerging Markets Asia ETF</name>
        <lei>549300QNROXHZ53JWF91</lei>
        <title>iShares MSCI Emerging Markets Asia ETF</title>
        <cusip>464286426</cusip>
        <identifiers>
          <isin value="US4642864262"/>
        </identifiers>
        <balance>3553.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>415558.88000000</valUSD>
        <pctVal>0.753759714652</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>iShares 7-10 Year Treasury Bond ETF</name>
        <lei>549300XS1PPZG92M8L16</lei>
        <title>iShares 7-10 Year Treasury Bond ETF</title>
        <cusip>464287440</cusip>
        <identifiers>
          <isin value="US4642874402"/>
        </identifiers>
        <balance>66736.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6311223.52000000</valUSD>
        <pctVal>11.44758605457</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>iShares Core S&amp;P U.S. Growth ETF</name>
        <lei>549300JOHA1VZHAEBP32</lei>
        <title>iShares Core S&amp;P U.S. Growth ETF</title>
        <cusip>464287671</cusip>
        <identifiers>
          <isin value="US4642876712"/>
        </identifiers>
        <balance>6016.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1131549.44000000</valUSD>
        <pctVal>2.052456159784</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>iShares 5-10 Year Investment Grade Corporate Bond ETF</name>
        <lei>549300ZJOCMXQZ0RKQ84</lei>
        <title>iShares 5-10 Year Investment Grade Corporate Bond ETF</title>
        <cusip>464288638</cusip>
        <identifiers>
          <isin value="US4642886380"/>
        </identifiers>
        <balance>83520.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4440758.40000000</valUSD>
        <pctVal>8.054850817828</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>iShares Aaa - A Rated Corporate Bond ETF</name>
        <lei>5493009W1LC1TK28CL24</lei>
        <title>iShares Aaa - A Rated Corporate Bond ETF</title>
        <cusip>46429B291</cusip>
        <identifiers>
          <isin value="US46429B2916"/>
        </identifiers>
        <balance>86273.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4099692.96000000</valUSD>
        <pctVal>7.436210713850</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JPMorgan International Research Enhanced Equity ETF</name>
        <lei>549300O57YNNVO2LZJ82</lei>
        <title>JPMorgan International Research Enhanced Equity ETF</title>
        <cusip>46641Q134</cusip>
        <identifiers>
          <isin value="US46641Q1343"/>
        </identifiers>
        <balance>26205.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2161650.45000000</valUSD>
        <pctVal>3.920900514434</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Janus Henderson Mortgage-Backed Securities ETF</name>
        <lei>549300V6TVE4ZJCDWY16</lei>
        <title>Janus Henderson Mortgage-Backed Securities ETF</title>
        <cusip>47103U852</cusip>
        <identifiers>
          <isin value="US47103U8523"/>
        </identifiers>
        <balance>196242.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8828927.58000000</valUSD>
        <pctVal>16.01431290166</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State Street SPDR S&amp;P Bank ETF</name>
        <lei>549300WRV3OCU6OV1X49</lei>
        <title>State Street SPDR S&amp;P Bank ETF</title>
        <cusip>78464A797</cusip>
        <identifiers>
          <isin value="US78464A7972"/>
        </identifiers>
        <balance>11309.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>771499.98000000</valUSD>
        <pctVal>1.399381971524</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State Street SPDR Portfolio S&amp;P 400 Mid Cap ETF</name>
        <lei>549300TKUU0ZLRVSLJ96</lei>
        <title>State Street SPDR Portfolio S&amp;P 400 Mid Cap ETF</title>
        <cusip>78464A847</cusip>
        <identifiers>
          <isin value="US78464A8475"/>
        </identifiers>
        <balance>14780.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>998536.80000000</valUSD>
        <pctVal>1.811191746011</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State Street SPDR Portfolio Short Term Treasury ETF</name>
        <lei>549300CVHDNMTIUMZ693</lei>
        <title>State Street SPDR Portfolio Short Term Treasury ETF</title>
        <cusip>78468R101</cusip>
        <identifiers>
          <isin value="US78468R1014"/>
        </identifiers>
        <balance>36736.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1065711.36000000</valUSD>
        <pctVal>1.933036037192</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Schwab Intermediate-Term U.S. Treasury ETF</name>
        <lei>549300LPS1K6133V2Q55</lei>
        <title>Schwab Intermediate-Term U.S. Treasury ETF</title>
        <cusip>808524854</cusip>
        <identifiers>
          <isin value="US8085248545"/>
        </identifiers>
        <balance>271795.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6702464.70000000</valUSD>
        <pctVal>12.15723721206</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vanguard FTSE All-World ex-US ETF</name>
        <lei>DHT9U5XH2TTB8CZQX861</lei>
        <title>Vanguard FTSE All-World ex-U.S. ETF</title>
        <cusip>922042775</cusip>
        <identifiers>
          <isin value="US9220427754"/>
        </identifiers>
        <balance>23070.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1932112.50000000</valUSD>
        <pctVal>3.504554075889</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vanguard Information Technology ETF</name>
        <lei>J2NTZGJBERBYMUMBIE74</lei>
        <title>Vanguard Information Technology ETF</title>
        <cusip>92204A702</cusip>
        <identifiers>
          <isin value="US92204A7028"/>
        </identifiers>
        <balance>17834.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2131519.68000000</valUSD>
        <pctVal>3.866247944870</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VictoryShares Free Cash Flow ETF</name>
        <lei>5493000FVGQ9SU6HI752</lei>
        <title>VictoryShares Free Cash Flow ETF</title>
        <cusip>92647X830</cusip>
        <identifiers>
          <isin value="US92647X8305"/>
        </identifiers>
        <balance>39189.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1792896.75000000</valUSD>
        <pctVal>3.252038177311</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State Street Global Advisors</name>
        <lei>549300BZ5TGIFZUZDZ37</lei>
        <title>State Street Institutional US Government Money Market Fund</title>
        <cusip>857492706</cusip>
        <identifiers>
          <isin value="US8574927062"/>
        </identifiers>
        <balance>1622716.53000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1622716.53000000</valUSD>
        <pctVal>2.943357505955</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-07-15</ncom:dateSigned>
      <ncom:nameOfApplicant>ULTRA SERIES FUND</ncom:nameOfApplicant>
      <ncom:signature>Greg Hoppe</ncom:signature>
      <ncom:signerName>Greg Hoppe</ncom:signerName>
      <ncom:title>Chief Financial Officer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
