PSMC Trust

NPORT-P false 0000732697 XXXXXXXX S000019980 C000056038 C000074785 ULTRA SERIES FUND 811-04815 0000732697 254900JPNAJ16VJV5X45 550 SCIENCE DRIVE MADISON 53711 608-274-0300 Diversified Income Fund S000019980 2549008KTOA5OFYKMX41 2025-12-31 2025-03-31 N 156869070.11 10170778.38 146698291.73 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 UST PSMC 2019-2 Trust N/A PSMC Trust 69374XAA8 259.30000000 PA USD 257.83000000 0.000175755284 Long ABS-MBS CORP US N 2 2049-10-25 Variable 3.50000000 N N N N N N Madison Covered Call ETF 5493000IABPYPS2KRC89 Madison Covered Call ETF 557441409 1410000.00000000 NS USD 24833343.00000000 16.92817462776 Long EC RF US N 1 N N N Madison Aggregate Bond ETF 5493000IAHAFHNP0JZ30 Madison Aggregate Bond ETF 557441300 1265000.00000000 NS USD 25691517.50000000 17.51316746570 Long EC RF US N 1 N N Global X MLP ETF 5493002HV8507QNNGD19 Global X MLP ETF 37954Y343 115261.00000000 NS USD 6135343.03000000 4.182286622186 Long EC RF US N 1 N N State Street Global Advisors 5493008BJIBKQ5KTIF74 State Street Navigator Securities Lending Government Money Market Portfolio 857509301 10128048.75000000 NS USD 10128048.75000000 6.903999106302 Long STIV RF US N 1 N N Government National Mortgage Association 549300M8ZYFG0OCMTT87 Government National Mortgage Association 36202DMR9 6748.28000000 PA USD 7012.86000000 0.004780464664 Long ABS-MBS USGA US N 2 2031-04-20 Fixed 6.50000000 N N N N N N Madison Dividend Value ETF 5493000IABVCBRPOIQ09 Madison Dividend Value ETF 557441508 1225000.00000000 NS USD 26827500.00000000 18.28753401530 Long EC RF US N 1 N N N Freddie Mac S6XOOCT0IEG5ABCC6L87 Federal Home Loan Mortgage Corp. 3128PRP86 285.23000000 PA USD 284.80000000 0.000194139956 Long ABS-MBS USGSE US N 2 2025-05-01 Fixed 4.50000000 N N N N N N Madison Short-Term Strategic Income ETF 5493000IALOEBWLDVK15 Madison Short-Term Strategic Income ETF 557441201 1562500.00000000 NS USD 32023437.50000000 21.82945494616 Long EC RF US N 1 N N N Fannie Mae B1V7KEBTPIMZEU4LTD58 Federal National Mortgage Association 31390FC49 828.64000000 PA USD 865.04000000 0.000589672851 Long ABS-MBS USGSE US N 2 2032-05-01 Fixed 7.00000000 N N N N N N State Street Global Advisors 549300BZ5TGIFZUZDZ37 State Street Institutional US Government Money Market Fund 857492706 2070549.85000000 NS USD 2070549.85000000 1.411434192983 Long STIV RF US N 1 N N N Freddie Mac S6XOOCT0IEG5ABCC6L87 Federal Home Loan Mortgage Corp. 31292HDJ0 3165.84000000 PA USD 3302.19000000 0.002251007807 Long ABS-MBS USGSE US N 2 2030-06-01 Fixed 8.00000000 N N N N N N SPDR Portfolio High Yield Bond ETF N/A SPDR Portfolio High Yield Bond ETF 78468R606 471039.00000000 NS USD 11031733.38000000 7.520014888996 Long EC RF US N 1 N N Janus Henderson AAA CLO ETF 549300N7UZ9PO4OVKA94 Janus Henderson AAA CLO ETF 47103U845 130032.00000000 NS USD 6593922.72000000 4.494887188009 Long EC RF US N 1 N N Fannie Mae B1V7KEBTPIMZEU4LTD58 Federal National Mortgage Association 31388K3Y6 6569.85000000 PA USD 6858.42000000 0.004675187365 Long ABS-MBS USGSE US N 2 2031-11-01 Fixed 7.00000000 N N N N N N Schwab US Dividend Equity ETF 549300MUIMRQQDWJ5226 Schwab U.S. Dividend Equity ETF 808524797 72935.00000000 NS USD 2039262.60000000 1.390106575851 Long EC RF US N 1 N N Janus Henderson Mortgage-Backed Securities ETF 549300V6TVE4ZJCDWY16 Janus Henderson Mortgage-Backed Securities ETF 47103U852 209640.00000000 NS USD 9475728.00000000 6.459330840361 Long EC RF US N 1 N N 2025-04-14 ULTRA SERIES FUND Greg Hoppe Greg Hoppe Chief Financial Officer XXXX