<?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>S000019999</seriesId>
        <classId>C000074791</classId>
        <classId>C000056077</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>Conservative Allocation Fund</seriesName>
      <seriesId>S000019999</seriesId>
      <seriesLei>254900EXJCTZPCW7T187</seriesLei>
      <repPdEnd>2021-12-31</repPdEnd>
      <repPdDate>2021-09-30</repPdDate>
      <isFinalFiling>N</isFinalFiling>
    </genInfo>
    <fundInfo>
      <totAssets>165261794.29</totAssets>
      <totLiabs>10881839.59</totLiabs>
      <netAssets>154379954.70</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>
      <borrowers>
        <borrower aggrVal="346042.50000000" lei="RCNB6OTYUAMMP879YW96" name="BNP Paribas Securities Corp."/>
        <borrower aggrVal="407317.50000000" lei="58PU97L1C0WSRCWADL48" name="Jefferies LLC"/>
        <borrower aggrVal="3098406.08000000" lei="MBNUM2BPBDO7JBLYG310" name="Citigroup Global Markets Inc."/>
        <borrower aggrVal="1483780.20000000" lei="549300JRHF1MHHWUAW04" name="National Financial Services LLC"/>
        <borrower aggrVal="5259598.08000000" lei="ZBUT11V806EZRVTWT807" name="J.P. Morgan Securities LLC"/>
      </borrowers>
      <isNonCashCollateral>N</isNonCashCollateral>
      <returnInfo>
        <monthlyTotReturns>
          <monthlyTotReturn classId="C000074791" rtn1="0.87000000" rtn2="0.22000000" rtn3="-2.00000000"/>
          <monthlyTotReturn classId="C000056077" rtn1="0.89000000" rtn2="0.24000000" rtn3="-1.98000000"/>
        </monthlyTotReturns>
        <othMon1 netRealizedGain="-108285.72000000" netUnrealizedAppr="1424739.34000000"/>
        <othMon2 netRealizedGain="495899.32000000" netUnrealizedAppr="-209429.08000000"/>
        <othMon3 netRealizedGain="459245.98000000" netUnrealizedAppr="-3830887.91000000"/>
      </returnInfo>
      <mon1Flow redemption="1033807.90000000" reinvestment="0.00000000" sales="293346.37000000"/>
      <mon2Flow redemption="1650408.63000000" reinvestment="0.00000000" sales="829295.80000000"/>
      <mon3Flow redemption="2226522.21000000" reinvestment="0.00000000" sales="345328.31000000"/>


    </fundInfo>
    <invstOrSecs>
      <invstOrSec>
        <name>iShares MSCI Eurozone ETF</name>
        <lei>549300Q88WD2SU6SPH06</lei>
        <title>iShares MSCI Eurozone ETF</title>
        <cusip>464286608</cusip>
        <identifiers>
          <isin value="US4642866085"/>
        </identifiers>
        <balance>31465.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1514095.80000000</valUSD>
        <pctVal>0.980759323930</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="1483780.20000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Baird Aggregate Bond Fund</name>
        <lei>549300NWEXVVDQ3ROW37</lei>
        <title>Baird Aggregate Bond Fund</title>
        <cusip>057071854</cusip>
        <identifiers>
          <isin value="US0570718546"/>
        </identifiers>
        <balance>1549919.88300000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>17746582.66000000</valUSD>
        <pctVal>11.49539309976</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>116319.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5647287.45000000</valUSD>
        <pctVal>3.658044505178</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 Optimum Yield Diversified Commodity Strategy No K-1 ETF</name>
        <lei>549300FMDZNC0BEIYQ10</lei>
        <title>Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF</title>
        <cusip>46090F100</cusip>
        <identifiers>
          <isin value="US46090F1003"/>
        </identifiers>
        <balance>151814.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3195684.70000000</valUSD>
        <pctVal>2.070012720375</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>5493008BJIBKQ5KTIF74</lei>
        <title>State Street Navigator Securities Lending Government Money Market Portfolio</title>
        <cusip>857492706</cusip>
        <identifiers>
          <isin value="US8574927062"/>
        </identifiers>
        <balance>10824901.75000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10824901.75000000</valUSD>
        <pctVal>7.011857058149</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="10824901.75000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>iShares 3-7 Year Treasury Bond ETF</name>
        <lei>549300BUGBHWMFPSNL42</lei>
        <title>iShares 3-7 Year Treasury Bond ETF</title>
        <cusip>464288661</cusip>
        <identifiers>
          <isin value="US4642886612"/>
        </identifiers>
        <balance>108571.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14132687.07000000</valUSD>
        <pctVal>9.154483234214</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>VanEck Vectors Gold Miners ETF</name>
        <lei>54930031TORTKAM9TJ98</lei>
        <title>VanEck Vectors Gold Miners ETF</title>
        <cusip>92189F106</cusip>
        <identifiers>
          <isin value="US92189F1066"/>
        </identifiers>
        <balance>78039.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2299809.33000000</valUSD>
        <pctVal>1.489707219094</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 Small-Cap ETF</name>
        <lei>DHT9U5XH2TTB8CZQX861</lei>
        <title>Vanguard FTSE All World ex-US Small-Cap ETF</title>
        <cusip>922042718</cusip>
        <identifiers>
          <isin value="US9220427184"/>
        </identifiers>
        <balance>13165.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1760028.85000000</valUSD>
        <pctVal>1.140063069340</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>9877.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3963541.33000000</valUSD>
        <pctVal>2.567393764107</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>Madison Investors Fund</name>
        <lei>5493000V85LMHCOTG216</lei>
        <title>Madison Investors Fund</title>
        <cusip>557492386</cusip>
        <identifiers>
          <isin value="US5574923869"/>
        </identifiers>
        <balance>364657.63300000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10111956.16000000</valUSD>
        <pctVal>6.550044777283</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>Madison Dividend Income Fund</name>
        <lei>2549003L8OSO2VIZPK74</lei>
        <title>Madison Dividend Income Fund</title>
        <cusip>557492295</cusip>
        <identifiers>
          <isin value="US5574922952"/>
        </identifiers>
        <balance>220860.02600000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7206662.65000000</valUSD>
        <pctVal>4.668133673186</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-US ETF</title>
        <cusip>922042775</cusip>
        <identifiers>
          <isin value="US9220427754"/>
        </identifiers>
        <balance>123779.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7545567.84000000</valUSD>
        <pctVal>4.887660353744</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>5681671.21000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5681671.21000000</valUSD>
        <pctVal>3.680316671319</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>
      <invstOrSec>
        <name>iShares MSCI United Kingdom ETF</name>
        <lei>549300D5PVRLB9ULJS58</lei>
        <title>iShares MSCI United Kingdom ETF</title>
        <cusip>46435G334</cusip>
        <identifiers>
          <isin value="US46435G3341"/>
        </identifiers>
        <balance>23837.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>768743.25000000</valUSD>
        <pctVal>0.497955354044</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="753360.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vanguard Short-Term Corporate Bond ETF</name>
        <lei>GW69FWO1NUHCKLV98X51</lei>
        <title>Vanguard Short-Term Corporate Bond ETF</title>
        <cusip>92206C409</cusip>
        <identifiers>
          <isin value="US92206C4096"/>
        </identifiers>
        <balance>173801.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14322940.41000000</valUSD>
        <pctVal>9.277720308853</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 20+ Year Treasury Bond ETF</name>
        <lei>549300WWURKS1JGBZU59</lei>
        <title>iShares 20+ Year Treasury Bond ETF</title>
        <cusip>464287432</cusip>
        <identifiers>
          <isin value="US4642874329"/>
        </identifiers>
        <balance>59095.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8528590.40000000</valUSD>
        <pctVal>5.524415664309</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="8358004.16000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Madison Core Bond Fund</name>
        <lei>N/A</lei>
        <title>Madison Core Bond Fund</title>
        <cusip>557492253</cusip>
        <identifiers>
          <isin value="US5574922531"/>
        </identifiers>
        <balance>3750150.21800000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>38926559.26000000</valUSD>
        <pctVal>25.21477567190</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 US Dividend Equity ETF</name>
        <lei>549300MUIMRQQDWJ5226</lei>
        <title>Schwab US Dividend Equity ETF</title>
        <cusip>808524797</cusip>
        <identifiers>
          <isin value="US8085247976"/>
        </identifiers>
        <balance>55842.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4145710.08000000</valUSD>
        <pctVal>2.685394025445</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 BetaBuilders Japan ETF</name>
        <lei>54930031HWFFLQV7A679</lei>
        <title>JPMorgan BetaBuilders Japan ETF</title>
        <cusip>46641Q217</cusip>
        <identifiers>
          <isin value="US46641Q2176"/>
        </identifiers>
        <balance>14134.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>830231.16000000</valUSD>
        <pctVal>0.537784300826</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>112976.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6005239.28000000</valUSD>
        <pctVal>3.889908694214</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>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2021-10-25</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>
  <documents>XXXX</documents>
</edgarSubmission>
