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        <fairValLevel>1</fairValLevel>
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        <name>SIEMENS ENERGY AG</name>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>HERMES INTERNATIONAL SA</name>
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        <fairValLevel>1</fairValLevel>
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        <name>BNP PARIBAS SA</name>
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        <fairValLevel>1</fairValLevel>
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        <name>RIO TINTO PLC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>J.P. MORGAN SECURITIES LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>UNILEVER PLC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>MUENCHENER RUECKVERSICHERUNGS-GESELLSCHAFT AG</name>
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          <ticker value="MURGY"/>
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        <fairValLevel>1</fairValLevel>
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        <name>BRITISH AMERICAN TOBACCO PLC</name>
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        <title>BRITISH AMERICAN TOBACCO PLC SPONSORED ADR</title>
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          <ticker value="BTI"/>
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        <fairValLevel>1</fairValLevel>
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        <name>CHICAGO MERCANTILE EXCHANGE</name>
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        <fairValLevel>1</fairValLevel>
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        <name>AIRBUS SE</name>
        <lei>MINO79WLOO247M1IL051</lei>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>SIEMENS AG</name>
        <lei>W38RGI023J3WT1HWRP32</lei>
        <title>SIEMENS AG SPONSORED ADR</title>
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        <fairValLevel>1</fairValLevel>
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        <name>AXA SA</name>
        <lei>F5WCUMTUM4RKZ1MAIE39</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>SAP SE</name>
        <lei>529900D6BF99LW9R2E68</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>ANHEUSER-BUSCH INBEV SA/NV</name>
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        <fairValLevel>1</fairValLevel>
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        <name>L'AIR LIQUIDE SA</name>
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        <fairValLevel>1</fairValLevel>
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        <lei>529900JI1GG6F7RKVI53</lei>
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        <fairValLevel>1</fairValLevel>
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        <lei>549300TRUWO2CD2G5692</lei>
        <title>UNICREDIT SPA UNSPONSORD ADR</title>
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        <fairValLevel>1</fairValLevel>
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        <name>COMPAGNIE FINANCIERE RICHEMONT SA</name>
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        <title>COMPAGNIE FINANCIERE RICHEMONT SA SPON ADR</title>
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        <fairValLevel>1</fairValLevel>
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        <name>IBERDROLA SA</name>
        <lei>5QK37QC7NWOJ8D7WVQ45</lei>
        <title>IBERDROLA SA SPON ADR</title>
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        <fairValLevel>1</fairValLevel>
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        <name>VINCI SA</name>
        <lei>213800WFQ334R8UXUG83</lei>
        <title>VINCI SA ADR</title>
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          <isin value="US9273201015"/>
          <ticker value="VCISY"/>
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        <curCd>USD</curCd>
        <valUSD>9189.18000000</valUSD>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Guggenheim Funds Trust</name>
        <lei>54930033G24U3UGWK691</lei>
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          <ticker value="GIYIX"/>
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        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>NESTLE' SA/AG</name>
        <lei>KY37LUS27QQX7BB93L28</lei>
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          <isin value="US6410694060"/>
          <ticker value="NSRGY"/>
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        <curCd>USD</curCd>
        <valUSD>28650.51000000</valUSD>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>LONDON STOCK EXCHANGE GROUP PLC</name>
        <lei>213800QAUUUP6I445N30</lei>
        <title>LONDON STOCK EXCHANGE GROUP PLC SPONSORED ADS</title>
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          <ticker value="LSEGY"/>
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        <curCd>USD</curCd>
        <valUSD>5655.54000000</valUSD>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ABB LTD (CH)</name>
        <lei>5493000LKVGOO9PELI61</lei>
        <title>ABB LTD (CH) SPONSORED ADR</title>
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          <isin value="US0003752047"/>
          <ticker value="ABBNY"/>
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        <curCd>USD</curCd>
        <valUSD>18370.30000000</valUSD>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ASTRAZENECA PLC</name>
        <lei>PY6ZZQWO2IZFZC3IOL08</lei>
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          <isin value="GB0009895292"/>
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        <balance>168.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BP PLC</name>
        <lei>213800LH1BZH3DI6G760</lei>
        <title>BP PLC SPONSORED ADR</title>
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          <isin value="US0556221044"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SANOFI SA</name>
        <lei>549300E9PC51EN656011</lei>
        <title>SANOFI SA SPONSORED ADR</title>
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          <isin value="US80105N1054"/>
          <ticker value="SNY"/>
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        <curCd>USD</curCd>
        <valUSD>10366.38000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NATIONAL GRID PLC</name>
        <lei>8R95QZMKZLJX5Q2XR704</lei>
        <title>NATIONAL GRID PLC SPONSORED ADR NE</title>
        <cusip>636274409</cusip>
        <identifiers>
          <isin value="US6362744095"/>
          <ticker value="NGG"/>
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        <balance>112.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9281.44000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NOVO NORDISK A/S</name>
        <lei>549300DAQ1CVT6CXN342</lei>
        <title>NOVO NORDISK A/S ADR</title>
        <cusip>670100205</cusip>
        <identifiers>
          <isin value="US6701002056"/>
          <ticker value="NVO"/>
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        <balance>347.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16635.18000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ESSILORLUXOTTICA SA</name>
        <lei>549300M3VH1A3ER1TB49</lei>
        <title>ESSILORLUXOTTICA SA UNSPONSORED ADR</title>
        <cusip>297284200</cusip>
        <identifiers>
          <isin value="US2972842007"/>
          <ticker value="ESLOY"/>
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        <balance>68.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6383.84000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>RHEINMETALL AG</name>
        <lei>5299001OU9CSE29O6S05</lei>
        <title>RHEINMETALL AG UNSPONSORD ADR</title>
        <cusip>76206K107</cusip>
        <identifiers>
          <isin value="US76206K1079"/>
          <ticker value="RNMBY"/>
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        <balance>25.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5709.75000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BANCO BILBAO VIZCAYA ARGENTARIA SA</name>
        <lei>K8MS7FD7N5Z2WQ51AZ71</lei>
        <title>BANCO BILBAO VIZCAYA ARGENTARIA SA SPONSORED ADR</title>
        <cusip>05946K101</cusip>
        <identifiers>
          <isin value="US05946K1016"/>
          <ticker value="BBVA"/>
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        <balance>612.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15336.72000000</valUSD>
        <pctVal>0.732000561746</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>BANCO SANTANDER SA</name>
        <lei>5493006QMFDDMYWIAM13</lei>
        <title>BANCO SANTANDER SA ADR</title>
        <cusip>05964H105</cusip>
        <identifiers>
          <isin value="US05964H1059"/>
          <ticker value="SAN"/>
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        <balance>1596.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>22024.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NOVARTIS AG</name>
        <lei>5493007HIVTX6SY6XD66</lei>
        <title>NOVARTIS AG SPONSORED ADR</title>
        <cusip>66987V109</cusip>
        <identifiers>
          <isin value="US66987V1098"/>
          <ticker value="NVS"/>
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        <balance>206.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>32284.32000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>GSK PLC</name>
        <lei>5493000HZTVUYLO1D793</lei>
        <title>GSK PLC SPONSORED ADR</title>
        <cusip>37733W204</cusip>
        <identifiers>
          <isin value="US37733W2044"/>
          <ticker value="GSK"/>
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        <balance>220.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>EUREX Clearing Aktiengesellschaft</name>
        <lei>529900LN3S50JPU47S06</lei>
        <title>STOXX Europe 50 Index Futures(FSTX) Index Fut</title>
        <cusip>000000000</cusip>
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          <ticker value="FSTX U26-EUX"/>
          <other otherDesc="FIGI" value="BBG01Z7GL3W3"/>
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        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DEUTSCHE TELEKOM AG</name>
        <lei>549300V9QSIG4WX4GJ96</lei>
        <title>DEUTSCHE TELEKOM AG SPONSORED ADS</title>
        <cusip>251566105</cusip>
        <identifiers>
          <isin value="US2515661054"/>
          <ticker value="DTEGY"/>
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        <assetCat>EC</assetCat>
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        <invCountry>DE</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>RELX PLC</name>
        <lei>549300WSX3VBUFFJOO66</lei>
        <title>RELX PLC SPONSORED ADR</title>
        <cusip>759530108</cusip>
        <identifiers>
          <isin value="US7595301083"/>
          <ticker value="RELX"/>
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        <balance>197.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>ALLIANZ SE</name>
        <lei>529900K9B0N5BT694847</lei>
        <title>ALLIANZ SE UNSPONSRD ADS</title>
        <cusip>018820100</cusip>
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          <ticker value="ALIZY"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>SAFRAN SA</name>
        <lei>969500UIC89GT3UL7L24</lei>
        <title>SAFRAN SA SPON ADR</title>
        <cusip>786584102</cusip>
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          <ticker value="SAFRY"/>
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        <balance>160.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>15723.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SHELL PLC</name>
        <lei>21380068P1DRHMJ8KU70</lei>
        <title>SHELL PLC SPON ADS</title>
        <cusip>780259305</cusip>
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          <isin value="US7802593050"/>
          <ticker value="SHEL"/>
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        <balance>303.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>23494.62000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>UBS GROUP AG</name>
        <lei>549300SZJ9VS8SGXAN81</lei>
        <title>UBS GROUP AG CHF0.10 (REGD)</title>
        <cusip>000000000</cusip>
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          <ticker value="UBS"/>
          <other otherDesc="SEDOL" value="BRTR118"/>
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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16553.04000000</valUSD>
        <pctVal>0.790053843234</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>ROLLS-ROYCE HOLDINGS PLC</name>
        <lei>213800EC7997ZBLZJH69</lei>
        <title>ROLLS-ROYCE HOLDINGS PLC SPONSORED ADR</title>
        <cusip>775781206</cusip>
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          <ticker value="RYCEY"/>
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        <balance>903.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>17382.75000000</valUSD>
        <pctVal>0.829654760907</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>PROSUS NV</name>
        <lei>635400Z5LQ5F9OLVT688</lei>
        <title>PROSUS NV SPONSORED ADR</title>
        <cusip>74365P108</cusip>
        <identifiers>
          <isin value="US74365P1084"/>
          <ticker value="PROSY"/>
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        <balance>684.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5950.80000000</valUSD>
        <pctVal>0.284023503255</pctVal>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>ENEL SPA</name>
        <lei>WOCMU6HCI0OJWNPRZS33</lei>
        <title>ENEL SPA UNSPONSORD ADR</title>
        <cusip>29265W207</cusip>
        <identifiers>
          <isin value="US29265W2070"/>
          <ticker value="ENLAY"/>
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        <balance>843.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9635.49000000</valUSD>
        <pctVal>0.459888691500</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>ZURICH INSURANCE GROUP AG</name>
        <lei>529900QVNRBND50TXP03</lei>
        <title>ZURICH INSURANCE GROUP AG SPONSORED ADR</title>
        <cusip>989825104</cusip>
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          <ticker value="ZURVY"/>
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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12240.71000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Guggenheim Funds Trust</name>
        <lei>54930033G24U3UGWK691</lei>
        <title>Guggenheim Ultra Short Income ETF</title>
        <cusip>40169J416</cusip>
        <identifiers>
          <isin value="US40169J4168"/>
          <ticker value="GCSH"/>
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        <balance>1365.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>68420.22000000</valUSD>
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        <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>
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      </invstOrSec>
      <invstOrSec>
        <name>SCHNEIDER ELECTRIC SE</name>
        <lei>969500A1YF1XUYYXS284</lei>
        <title>SCHNEIDER ELECTRIC SE UNSPONSORD ADR</title>
        <cusip>80687P106</cusip>
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          <isin value="US80687P1066"/>
          <ticker value="SBGSY"/>
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        <balance>313.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>20401.34000000</valUSD>
        <pctVal>0.973727911860</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MERRILL LYNCH, PIERCE, FENNER &amp; SMITH INCORPORATED</name>
        <lei>8NAV47T0Y26Q87Y0QP81</lei>
        <title>MERRILL LYNCH, PIERCE, FENNER &amp; SMITH INCORPORATED TRI PARTY</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="BGHB3J1F3260630"/>
        </identifiers>
        <balance>468470.29000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>468470.29000000</valUSD>
        <pctVal>22.35944292141</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="8NAV47T0Y26Q87Y0QP81" name="MERRILL LYNCH, PIERCE, FENNER &amp; SMITH INCORPORATED"/>
            </counterpartyInfos>
          </notClearedCentCparty>
          <isTriParty>Y</isTriParty>
          <repurchaseRt>3.63000000</repurchaseRt>
          <maturityDt>2026-07-01</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>476860.01000000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>477839.70000000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>UST</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-08-25</ncom:dateSigned>
      <ncom:nameOfApplicant>Rydex Series Funds</ncom:nameOfApplicant>
      <ncom:signature>James Howley</ncom:signature>
      <ncom:signerName>James Howley</ncom:signerName>
      <ncom:title>Chief Financial Officer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
