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        <name>SANOFI SA - CVR</name>
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      <invstOrSec>
        <name>SUMMIT THERAPEUTICS INC</name>
        <lei>N/A</lei>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Sarepta Therapeutics Inc</name>
        <lei>549300IKDPIED8J8IG21</lei>
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      <invstOrSec>
        <name>BioNTech SE</name>
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        <fairValLevel>1</fairValLevel>
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        <name>CRISPR Therapeutics AG</name>
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        <fairValLevel>1</fairValLevel>
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        <name>BEONE MEDICINES LTD</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Krystal Biotech Inc</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Revolution Medicines Inc</name>
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        <title>Revolution Medicines Inc COM</title>
        <cusip>76155X100</cusip>
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          <isin value="US76155X1000"/>
          <ticker value="RVMD"/>
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        <fairValLevel>1</fairValLevel>
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        <name>Kymera Therapeutics Inc</name>
        <lei>N/A</lei>
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        <name>NATERA INC</name>
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        <title>Natera Inc. COM</title>
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        <name>Twist Bioscience Corporation</name>
        <lei>549300T23BL59LCOH584</lei>
        <title>Twist Bioscience Corporation COM</title>
        <cusip>90184D100</cusip>
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        <name>MERRILL LYNCH, PIERCE, FENNER &amp; SMITH INCORPORATED</name>
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        <name>Regeneron Pharmaceuticals, Inc.</name>
        <lei>549300RCBFWIRX3HYQ56</lei>
        <title>Regeneron Pharmaceuticals, Inc. COM</title>
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        <name>Alkermes PLC</name>
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        <name>Protagonist Therapeutics Inc</name>
        <lei>N/A</lei>
        <title>Protagonist Therapeutics Inc COM</title>
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        <name>Vaxcyte Inc</name>
        <lei>254900M7NMHTGASX8D95</lei>
        <title>Vaxcyte Inc COM</title>
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          <ticker value="PCVX"/>
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        <name>Roivant Sciences Ltd</name>
        <lei>549300DL466NY5J6U724</lei>
        <title>Roivant Sciences Ltd SHS</title>
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      <invstOrSec>
        <name>Biomarin Pharmaceutical Inc.</name>
        <lei>NSLL8ITTRR0J5HEMR848</lei>
        <title>Biomarin Pharmaceutical Inc. COM</title>
        <cusip>09061G101</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Exelixis, Inc.</name>
        <lei>254900PJQB59O2O95R37</lei>
        <title>Exelixis, Inc. COM</title>
        <cusip>30161Q104</cusip>
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          <isin value="US30161Q1040"/>
          <ticker value="EXEL"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Royalty Pharma PLC</name>
        <lei>549300FGFN7VOK8BZR03</lei>
        <title>Royalty Pharma PLC COM USD0.0001 CLASS A</title>
        <cusip>000000000</cusip>
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          <isin value="GB00BMVP7Y09"/>
          <ticker value="RPRX"/>
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        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Amgen Inc.</name>
        <lei>62QBXGPJ34PQ72Z12S66</lei>
        <title>Amgen Inc. COM</title>
        <cusip>031162100</cusip>
        <identifiers>
          <isin value="US0311621009"/>
          <ticker value="AMGN"/>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Ionis Pharmaceuticals, Inc.</name>
        <lei>549300SI4ZGLG0BLUZ92</lei>
        <title>Ionis Pharmaceuticals, Inc. COM</title>
        <cusip>462222100</cusip>
        <identifiers>
          <isin value="US4622221004"/>
          <ticker value="IONS"/>
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        <balance>24870.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1867488.30000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Bridgebio Pharma Inc</name>
        <lei>54930028YG89VTY2J114</lei>
        <title>Bridgebio Pharma Inc COM</title>
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        <name>J.P. MORGAN SECURITIES LLC</name>
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        <name>Madrigal Pharmaceuticals Inc</name>
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        <name>Travere Therapeutics Inc</name>
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        <name>Amicus Therapeutics Inc.</name>
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        <name>Insmed Inc</name>
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        <name>Guardant Health Inc</name>
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        <name>Vertex Pharmaceuticals Incorporated</name>
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        <name>Incyte Corporation.</name>
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        <name>Soleno Therapeutics Inc</name>
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        <name>Rhythm Pharmaceuticals Inc</name>
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        <title>Rhythm Pharmaceuticals Inc COM</title>
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        <name>Viatris Inc</name>
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        <name>Mirum Pharmaceuticals Inc.</name>
        <lei>254900YZKR40F7F27K81</lei>
        <title>Mirum Pharmaceuticals Inc. COM</title>
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        <name>GRAIL Inc</name>
        <lei>2549009XSNESW3VE8024</lei>
        <title>GRAIL Inc COM</title>
        <cusip>384747101</cusip>
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        <name>ARCUTIS BIOTHERAPEUTICS INC</name>
        <lei>N/A</lei>
        <title>Arcutis Biotherapeutics Inc. COM</title>
        <cusip>03969K108</cusip>
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      <invstOrSec>
        <name>Moderna Inc</name>
        <lei>549300EI6OKH5K5Q2G38</lei>
        <title>Moderna Inc COM</title>
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          <isin value="US60770K1079"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Halozyme Therapeutics Inc</name>
        <lei>529900242I3SV9AGM753</lei>
        <title>Halozyme Therapeutics Inc COM</title>
        <cusip>40637H109</cusip>
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          <isin value="US40637H1095"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Ultragenyx Pharmaceuticals Inc</name>
        <lei>529900EV44GVDN1DCX77</lei>
        <title>Ultragenyx Pharmaceuticals Inc COM</title>
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          <isin value="US90400D1081"/>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Alnylam Pharmaceuticals Inc.</name>
        <lei>529900S3ZI14OWRJII50</lei>
        <title>Alnylam Pharmaceuticals Inc. COM</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Acadia Pharmaceuticals Inc</name>
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        <title>Acadia Pharmaceuticals Inc COM</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Arcellx Inc</name>
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      <invstOrSec>
        <name>Akero Therapeutics Inc</name>
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        <name>Veracyte Inc</name>
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        <title>Veracyte Inc COM</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Nuvalent Inc</name>
        <lei>N/A</lei>
        <title>Nuvalent Inc COM</title>
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          <isin value="US6707031075"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>AbbVie Inc.</name>
        <lei>FR5LCKFTG8054YNNRU85</lei>
        <title>AbbVie Inc. COM</title>
        <cusip>00287Y109</cusip>
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          <isin value="US00287Y1091"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Jazz Pharmaceuticals PLC</name>
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        <cusip>000000000</cusip>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Arrowhead Pharmaceuticals Inc</name>
        <lei>549300O3CSB8T7OZ3D66</lei>
        <title>Arrowhead Pharmaceuticals Inc COM</title>
        <cusip>04280A100</cusip>
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          <ticker value="ARWR"/>
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        <assetCat>EC</assetCat>
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        <name>Recursion Pharmaceuticals Inc</name>
        <lei>N/A</lei>
        <title>Recursion Pharmaceuticals Inc CL A</title>
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      <invstOrSec>
        <name>BEAM THERAPEUTICS INC</name>
        <lei>N/A</lei>
        <title>Beam Therapeutics Inc. COM</title>
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        <name>United Therapeutics Corporation</name>
        <lei>5299005C4HZL4UWROC14</lei>
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        <cusip>91307C102</cusip>
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        <name>Apellis Pharmaceuticals Inc</name>
        <lei>254900HS0ZFRXXSB9D42</lei>
        <title>Apellis Pharmaceuticals Inc COM</title>
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        <name>Illumina Inc</name>
        <lei>SQ95QG8SR5Q56LSNF682</lei>
        <title>Illumina Inc COM</title>
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        <name>Cytokinetics Inc</name>
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        <title>Cytokinetics Inc COM NEW</title>
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        <name>TG Therapeutics Inc</name>
        <lei>529900X21UKABN9NJ529</lei>
        <title>TG Therapeutics Inc COM</title>
        <cusip>88322Q108</cusip>
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        <name>Scholar Rock Holding Corp.</name>
        <lei>549300Z1FLPGL4OWJ459</lei>
        <title>Scholar Rock Holding Corp. COM</title>
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        <invCountry>US</invCountry>
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        <name>Biogen Inc</name>
        <lei>W8J5WZB5IY3K0NDQT671</lei>
        <title>Biogen Inc COM</title>
        <cusip>09062X103</cusip>
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          <ticker value="BIIB"/>
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        <assetCat>EC</assetCat>
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        <name>Intellia Therapeutics Inc</name>
        <lei>5493002T5BCPE5DZC723</lei>
        <title>Intellia Therapeutics Inc COM</title>
        <cusip>45826J105</cusip>
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          <ticker value="NTLA"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Viking Therapeutics Inc.</name>
        <lei>529900IVC72YPFA25M37</lei>
        <title>Viking Therapeutics Inc. COM</title>
        <cusip>92686J106</cusip>
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          <ticker value="VKTX"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>Ascendis Pharma A/S</name>
        <lei>549300B66JN3W3J8GH73</lei>
        <title>Ascendis Pharma A/S SPONSORED ADR</title>
        <cusip>04351P101</cusip>
        <identifiers>
          <isin value="US04351P1012"/>
          <ticker value="ASND"/>
        </identifiers>
        <balance>5974.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1366433.02000000</valUSD>
        <pctVal>1.011665103060</pctVal>
        <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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Medpace Holdings Inc.</name>
        <lei>549300H8TYEUVTW14A54</lei>
        <title>Medpace Holdings Inc. COM</title>
        <cusip>58506Q109</cusip>
        <identifiers>
          <isin value="US58506Q1094"/>
          <ticker value="MEDP"/>
        </identifiers>
        <balance>3540.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1699872.60000000</valUSD>
        <pctVal>1.258533542367</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</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>2026-06-01</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>
</edgarSubmission>
