N-Q

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES

Investment Company Act File Number 811-772

RIVERSOURCE EQUITY SERIES, INC.

(Exact name of registrant as specified in charter)

50606 Ameriprise Financial Center, Minneapolis, Minnesota	55474
(Address of principal executive offices)	(Zip code)

Scott R. Plummer — 5228 Ameriprise Financial Center, Minneapolis, MN 55474(Name and address of agent for service)

Registrant’s telephone number, including area code: (612) 671-1947

Date of fiscal year end: 11/30

Date of reporting period: 08/31

Portfolio of Investments
RiverSource Mid Cap Growth Fund
Aug. 31, 2009 (Unaudited)

(Percentages represent value of investments compared to net assets)

Investments in Securities

Common Stocks (94.8%)

Issuer	Shares			Value(a)
Aerospace & Defense (0.4%)
Precision Castparts		29,322		$	2,676,512
Air Freight & Logistics (0.4%)
CH Robinson Worldwide		52,950	(d)		2,978,967
Airlines (2.7%)
AMR		845,820	(b)		4,618,177
Continental Airlines Cl B		384,593	(b,d)		5,103,549
Delta Air Lines		653,041	(b)		4,714,956
UAL		635,655	(b,d)		3,960,131
Total					18,396,813
Biotechnology (3.7%)
BioMarin Pharmaceutical		425,653	(b,d)		7,010,505
Celera		509,270	(b,d)		3,330,626
Cephalon		93,222	(b)		5,307,128
Genzyme		112,287	(b)		6,255,509
Onyx Pharmaceuticals		87,675	(b,d)		2,811,737
Total					24,715,505
Capital Markets (1.4%)
Janus Capital Group		187,422			2,384,008
Legg Mason		109,846	(d)		3,159,171
TD Ameritrade Holding		189,957	(b)		3,654,772
Total					9,197,951
Chemicals (1.2%)
Airgas		47,028	(d)		2,186,802
Ecolab		54,235			2,293,599
Mosaic		41,088			1,991,535
Potash Corp of Saskatchewan		18,789	(c)		1,663,014
Total					8,134,950
Commercial Banks (2.3%)
Marshall & Ilsley		477,918	(d)		3,402,776
Regions Financial		595,013			3,486,776
TCF Financial		625,132	(d)		8,601,817
Total					15,491,369
Commercial Services & Supplies (0.4%)
Copart		74,096	(b,d)		2,618,553
Communications Equipment (4.4%)
Ciena		1,308,935	(b,d)		17,539,729
F5 Networks		29,863	(b)		1,029,975
Juniper Networks		264,785	(b,d)		6,108,590
ORBCOMM		958,400	(b,d)		2,060,560

Issuer	Shares			Value(a)
Riverbed Technology		131,978	(b,d)		2,544,536
Total					29,283,390
Computers & Peripherals (0.3%)
Seagate Technology		136,262	(c)		1,887,229
Construction & Engineering (4.0%)
Chicago Bridge & Iron		222,774	(c)		3,506,463
EMCOR Group		185,389	(b)		4,295,463
Fluor		86,901			4,597,063
Foster Wheeler		108,254	(b)		3,133,953
Jacobs Engineering Group		61,799	(b)		2,717,920
Quanta Services		252,900	(b,d)		5,594,148
Shaw Group		104,650	(b)		3,069,385
Total					26,914,395
Construction Materials (1.0%)
Martin Marietta Materials		35,799	(d)		3,135,276
Vulcan Materials		67,151	(d)		3,360,236
Total					6,495,512
Consumer Finance (0.8%)
First Marblehead		1,296,157	(b,d)		3,421,854
SLM		249,790	(b,d)		2,223,131
Total					5,644,985
Distributors (0.6%)
LKQ		214,089	(b,d)		3,716,585
Diversified Consumer Services (0.4%)
Apollo Group Cl A		40,453	(b)		2,622,163
Diversified Financial Services (1.0%)
IntercontinentalExchange		36,470	(b)		3,420,887
MSCI Cl A		55,539	(b)		1,633,957
NASDAQ OMX Group		74,553	(b)		1,636,438
Total					6,691,282
Diversified Telecommunication Services (0.2%)
FairPoint Communications		1,760,028	(d)		1,425,623
Electric Utilities (0.5%)
PPL		113,815			3,346,161
Electrical Equipment (4.3%)
American Superconductor		49,325	(b)		1,593,691
Energy Conversion Devices		270,655	(b,d)		3,028,629
Evergreen Solar		2,236,254	(b,d)		3,779,269
First Solar		28,951	(b,d)		3,519,863
Hubbell Cl B		220,983			8,501,216
JA Solar Holdings ADR		395,851	(b,c,d)		1,409,230
Real Goods Solar Cl A		636,623	(b)		1,941,700
SunPower Cl A		105,023	(b,d)		2,662,333
Suntech Power Holdings ADR		81,844	(b,c,d)		1,163,003
Yingli Green Energy Holding ADR		145,541	(b,c,d)		1,570,387
Total					29,169,321

Issuer	Shares			Value(a)
Electronic Equipment, Instruments & Components (0.6%)
Itron		74,437	(b,d)		4,078,403
Energy Equipment & Services (2.3%)
BJ Services		222,513	(d)		3,573,560
ENSCO Intl		96,166			3,548,525
Natl Oilwell Varco		77,749	(b)		2,826,176
Noble		47,296			1,656,779
Smith Intl		127,127			3,504,891
Total					15,109,931
Food Products (0.6%)
Dean Foods		121,839	(b)		2,210,159
HJ Heinz		52,458			2,019,633
Total					4,229,792
Health Care Equipment & Supplies (3.8%)
CR Bard		50,844			4,097,010
Gen-Probe		60,477	(b,d)		2,331,388
Haemonetics		39,364	(b)		2,072,121
Hologic		350,484	(b)		5,765,462
St. Jude Medical		157,375	(b)		6,065,232
Thoratec		121,150	(b,d)		3,178,976
Varian Medical Systems		44,568	(b,d)		1,919,544
Total					25,429,733
Health Care Providers & Services (3.7%)
AmerisourceBergen		157,240	(d)		3,350,784
CardioNet		302,428	(b,d)		2,177,482
Emdeon Cl A		316,890	(b)		5,526,561
Express Scripts		49,332	(b)		3,562,757
Laboratory Corp of America Holdings		24,947	(b)		1,741,051
MEDNAX		77,109	(b)		4,015,066
Patterson Companies		167,721	(b,d)		4,567,043
Total					24,940,744
Hotels, Restaurants & Leisure (2.5%)
Burger King Holdings		58,019			1,040,281
Darden Restaurants		60,801			2,002,177
Marriott Intl Cl A		95,650	(d)		2,286,038
MGM MIRAGE		301,385	(b,d)		2,552,731
Panera Bread Cl A		46,316	(b,d)		2,418,158
Pinnacle Entertainment		129,465	(b)		1,214,382
Starbucks		88,170	(b,d)		1,674,348
Starwood Hotels & Resorts Worldwide		111,503	(d)		3,320,560
Total					16,508,675
Household Durables (0.3%)
KB Home		124,767	(d)		2,272,007
Household Products (0.5%)
Clorox		58,074			3,431,593
Insurance (0.6%)
Ambac Financial Group		1,078,367	(d)		1,897,926
Genworth Financial Cl A		210,161			2,219,300
Total					4,117,226

Issuer	Shares			Value(a)
Internet & Catalog Retail (0.4%)
Orbitz Worldwide		425,899	(b,d,e)		2,670,387
Internet Software & Services (2.0%)
Akamai Technologies		515,894	(b,d)		9,100,370
Omniture		142,478	(b,d)		2,038,860
VistaPrint		60,304	(b,c,d)		2,498,998
Total					13,638,228
IT Services (0.6%)
Alliance Data Systems		46,922	(b,d)		2,606,986
ManTech Intl Cl A		30,964	(b)		1,636,138
Total					4,243,124
Leisure Equipment & Products (1.6%)
Eastman Kodak		1,582,346	(d)		8,418,080
LeapFrog Enterprises		549,606	(b)		2,159,952
Total					10,578,032
Life Sciences Tools & Services (0.7%)
Illumina		140,284	(b,d)		4,947,817
Machinery (2.8%)
Bucyrus Intl		79,270	(d)		2,366,210
Cummins		35,309			1,600,204
Flowserve		29,842			2,573,873
Joy Global		53,520	(d)		2,079,252
Manitowoc		638,620	(d)		4,240,437
Terex		355,065	(b)		5,851,470
Total					18,711,446
Marine (1.2%)
DryShips		799,967	(c,d)		4,671,808
Genco Shipping & Trading		188,477	(d)		3,650,799
Total					8,322,607
Media (1.8%)
Regal Entertainment Group Cl A		411,348			5,203,552
Sirius XM Radio		10,571,717	(b,d)		7,120,052
Total					12,323,604
Metals & Mining (5.1%)
AK Steel Holding		248,583	(d)		5,051,207
Alcoa		434,509			5,235,833
Allegheny Technologies		168,130	(d)		5,106,108
Cliffs Natural Resources		184,795	(d)		4,677,161
Freeport-McMoRan Copper & Gold		87,454	(e)		5,507,854
Kinross Gold		102,115	(c)		1,935,079
Steel Dynamics		57,755			955,845
United States Steel		87,440	(d)		3,828,123
Yamana Gold		189,996	(c)		1,747,963
Total					34,045,173
Multiline Retail (0.6%)
JC Penney		60,372	(d)		1,813,575
Nordstrom		76,277	(d)		2,138,807
Total					3,952,382

Issuer	Shares			Value(a)
Oil, Gas & Consumable Fuels (6.0%)
Arch Coal		225,859	(d)		3,911,878
Clean Energy Fuels		133,672	(b,d)		1,673,573
CONSOL Energy		73,466			2,748,363
Denbury Resources		103,883	(b,d)		1,581,099
El Paso		481,374			4,443,083
Frontier Oil		215,770			2,768,329
Murphy Oil		39,069			2,226,933
Newfield Exploration		64,290	(b,e)		2,487,380
Petrohawk Energy		159,797	(b,d)		3,440,429
Range Resources		41,283			1,996,859
Southwestern Energy		61,250	(b,d)		2,257,675
Tesoro		246,326	(d)		3,468,270
Western Refining		490,330	(b,d)		2,976,303
Williams Companies		265,222			4,360,250
Total					40,340,424
Paper & Forest Products (0.6%)
Intl Paper		167,538			3,844,997
Pharmaceuticals (3.0%)
Allergan		35,288			1,973,305
King Pharmaceuticals		242,168	(b,d)		2,513,704
Mylan		455,550	(b,d)		6,682,919
Perrigo		81,600	(d)		2,408,832
Shire ADR		126,795	(c,d)		6,283,960
Total					19,862,720
Real Estate Investment Trusts (REITs) (0.2%)
AMB Property		48,135	(d)		1,098,922
Real Estate Management & Development (0.5%)
Brookfield Asset Management Cl A		64,288	(c,d)		1,306,975
CB Richard Ellis Group Cl A		86,187	(b,d)		1,020,454
St. Joe		29,770	(b,d)		976,456
Total					3,303,885
Road & Rail (1.7%)
JB Hunt Transport Services		56,953	(d)		1,596,393
Kansas City Southern		341,000	(b,d)		8,149,900
Landstar System		44,976	(d)		1,568,313
Total					11,314,606
Semiconductors & Semiconductor Equipment (6.4%)
Altera		287,715	(d)		5,527,005
ASML Holding		52,002	(c,d)		1,428,495
Broadcom Cl A		91,109	(b)		2,592,051
Mellanox Technologies		424,934	(b,c)		5,800,349
MEMC Electronic Materials		114,725	(b)		1,829,864
NVIDIA		145,963	(b,d)		2,119,383
PMC-Sierra		2,281,868	(b,d)		20,719,361
Xilinx		124,281			2,764,009
Total					42,780,517
Software (7.0%)
Activision Blizzard		303,172	(b)		3,519,827
Citrix Systems		91,888	(b)		3,278,564
CommVault Systems		140,327	(b)		2,566,581
Compuware		815,112	(b)		5,876,957
Informatica		71,392	(b,d)		1,280,059

Issuer	Shares			Value(a)
Intuit		61,327	(b)		1,703,051
Novell		678,030	(b)		2,949,431
Symantec		90,486	(b)		1,368,148
TIBCO Software		2,333,823	(b)		20,701,009
VMware Cl A		114,901	(b)		4,070,942
Total					47,314,569
Specialty Retail (4.5%)
Abercrombie & Fitch Cl A		158,641	(d)		5,122,518
American Eagle Outfitters		165,480			2,233,980
Dick’s Sporting Goods		164,380	(b,d)		3,683,756
GameStop Cl A		188,804	(b,d)		4,493,535
Limited Brands		168,274	(d)		2,510,648
PetSmart		58,090			1,214,662
Tiffany & Co		144,951	(d)		5,273,317
TJX Companies		76,010			2,732,560
Urban Outfitters		106,966	(b,d)		3,041,043
Total					30,306,019
Textiles, Apparel & Luxury Goods (0.4%)
lululemon athletica		119,124	(b,c,d)		2,389,627
Thrifts & Mortgage Finance (0.3%)
MGIC Investment		280,381	(d,e)		2,279,498
Tobacco (0.3%)
Lorillard		24,116			1,754,921
Trading Companies & Distributors (0.9%)
Fastenal		87,811	(d)		3,178,758
United Rentals		295,062	(b)		2,711,620
Total					5,890,378
Water Utilities (0.4%)
American Water Works		127,504	(d)		2,562,830
Wireless Telecommunication Services (0.9%)
American Tower Cl A		120,929	(b)		3,827,403
NII Holdings		100,034	(b)		2,371,806
Total					6,199,209
Total Common Stocks (Cost: $601,673,884)				$	636,201,292

Options Purchased (—%)

			Exercise		Expiration
Issuer	Contracts		price		date	Value(a)
Calls
Tibco Software		1,300	$	10	Sept. 2009	$	16,250
Total Options Purchased (Cost: $103,311)						$	16,250

Money Market Fund (4.3%)

	Shares			Value(a)
RiverSource Short-Term Cash Fund, 0.28%		28,827,216	(f)	$	28,827,216
Total Money Market Fund (Cost: $28,827,216)				$	28,827,216

Investments of Cash Collateral Received for Securities on Loan (27.7%)

	Shares		Value(a)
Cash Collateral Reinvestment Fund (13.7%)
JPMorgan Prime Money Market Fund		91,896,898	$	91,896,899

	Coupon			Principal
Issuer	rate			amount		Value(a)
Asset-Backed Commercial Paper (3.1%)
Belmont Funding LLC
09-01-09		0.48	%	$	4,999,933	$	4,999,933
Ebbets Funding LLC
09-08-09		0.50			6,999,222		6,999,222
Elysian Funding LLC
09-01-09		0.42			4,999,942		4,999,942
Versailles Commercial Paper LLC
09-10-09		0.60			3,997,667		3,997,667
Total							20,996,764
Certificates of Deposit (8.5%)
Banco Popular Espanol
09-04-09		0.76			2,995,963		2,995,963
09-23-09		0.63			998,925		998,925
Banco Santander NY
11-09-09		0.41			3,000,000		3,000,000
Banco Santander Madrid
10-13-09		0.45			4,000,000		4,000,000
Bayrische Hypo Und Vereinsbank NY
09-14-09		0.30			5,000,000		5,000,000
Caisse de Depots et Consignment Paris
10-19-09		0.43			3,995,514		3,995,514
Credit Indusrial et Comm London
10-13-09		0.52			3,994,692		3,994,692
Danske Bank AS
11-24-09		0.32			5,000,000		5,000,000
Dexia Credit Local NY
09-21-09		0.52			4,997,690		4,997,690
ING Bank London
10-13-09		0.50			3,000,000		3,000,000
Mizuho London
10-29-09		0.49			2,000,000		2,000,000
Monte de Paschi NY
09-14-09		0.51			2,500,022		2,500,022
Norinchukin Bank NY
11-20-09		0.41			5,000,000		5,000,000
Raiffeisen Zentralbank Oest Vienna
09-10-09		0.41			7,500,000		7,499,999
San Paolo Imi Ireland
10-07-09		0.40			2,997,003		2,997,003
Total							56,979,808
Commercial Paper (2.4%)
Citigroup Funding
09-08-09		0.39			5,999,285		5,999,285
Natixis Commercial Paper
09-08-09		0.32			5,998,293		5,998,293
Royal Bank of Scotland Group
09-10-09		0.47			3,996,606		3,996,606
Total							15,994,184

	Coupon	Principal
Issuer	rate	amount	Value(a)
Total Investments of Cash Collateral Received for Securities on Loan (Cost: $185,867,655)			$	185,867,655
Total Investments in Securities (Cost: $816,472,066)(g)			$	850,912,413

Investment in Derivatives

Open Options Contracts Written at August 31, 2009

		Number of		Exercise		Premium		Expiration
Issuer	Puts/Calls	contracts		price		received		date	Value(a)
Freeport-McMoRan Copper & Gold	Call		162	$	70.00	$	27,231	Sept. 2009	$	11,583
MGIC Investment	Call		1,038		7.50		40,481	Sept. 2009		106,395
Newfield Exploration	Call		325		45.00		14,300	Sept. 2009		3,250
Orbitz Worldwide	Call		650		5.00		28,599	Sept. 2009		87,750
Total									$	208,978

Notes to Portfolio of Investments

(a)	Securities are valued by using policies described in Note 2 to the financial statements in the most recent Semiannual Report dated May 31, 2009.
(b)	Non-income producing.
(c)	Foreign security values are stated in U.S. dollars. At Aug. 31, 2009, the value of foreign securities represented 5.8% of net assets.
(d)	At Aug. 31, 2009, security was partially or fully on loan.
(e)	At Aug. 31, 2009, securities valued at $3,529,145 were held to cover open call options written. See Note 2 to the financial statements.
(f)	Affiliated Money Market Fund – The Fund may invest its daily cash balance in RiverSource Short-Term Cash Fund, a money market fund established for the exclusive use of the RiverSource funds and other institutional clients of RiverSource Investments. The rate shown is the seven-day current annualized yield at Aug. 31, 2009.
(g)	At Aug. 31, 2009, the cost of securities for federal income tax purposes was approximately $816,472,000 and the approximate aggregate gross unrealized appreciation and depreciation based on that cost was:

Unrealized appreciation	$	92,564,000
Unrealized depreciation		(58,124,000	)
Net unrealized appreciation	$	34,440,000

The industries identified above are based on the Global Industry Classification Standard (GICS), which was developed by and is the exclusive property of Morgan Stanley Capital International Inc. and Standard & Poor’s, a division of The McGraw-Hill Companies, Inc.

Fair Value Measurements

Statement of Financial Accounting Standards No. 157 (SFAS 157) requires disclosure regarding the inputs and valuation techniques used to measure fair value and any changes in valuation inputs or techniques. In addition, investments shall be disclosed by major category.

SFAS 157 establishes a fair value hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by prioritizing that the most observable input be used when available. Observable inputs are those that market participants would use in pricing an investment based on market data obtained from sources independent of the reporting entity. Unobservable inputs are those that reflect the Fund’s assumptions about the information market participants would use in pricing an investment. An investment’s level within the fair value hierarchy is based on the lowest level of any input that is deemed significant to the asset or liability’s fair value measurement. When a valuation uses multiple inputs from varying levels of the hierarchy, the hierarchy level is determined based on the lowest level input or inputs that are significant to the fair value measurement in its entirety. The input levels are not necessarily an indication of the risk or liquidity associated with investments at that level. For example, certain U.S. government securities are generally high quality and liquid, however, they are reflected as Level 2 because the inputs used to determine fair value may not always be quoted prices in an active market.

Fair value inputs are summarized in the three broad levels listed below:

• Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments.

• Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.).

• Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments).

Inputs that are used in determining fair value of an investment may include price information, credit data, volatility statistics, and other factors. These inputs can be either observable or unobservable. The availability of observable inputs can vary between investments, and is affected by various factors such as the type of investment, and the volume and level of activity for that investment or similar investments in the marketplace. The inputs will be considered by the Fund Administrator, along with any other relevant factors in the calculation of an investment’s fair value. The Fund uses prices and inputs that are current as of the measurement date, which may include periods of market dislocations. During these periods, the availability of prices and inputs may be reduced for many investments. This condition could cause an investment to be reclassified between the various levels within the hierarchy.

Non-U.S. equity securities actively traded in foreign markets may be reflected in Level 2 despite the availability of closing prices, because the Fund evaluates and determines whether those closing prices reflect fair value at the close of the New York Stock Exchange (NYSE) or require adjustment, as described in Note 1 to the financial statements – Valuation of securities in the most recent Semiannual Report dated May 31, 2009.

Investments falling into the Level 3 category are primarily supported by quoted prices from brokers and dealers participating in the market for those investments. However, these may be classified as Level 3 investments due to lack of market transparency and corroboration to support these quoted prices. Additionally, valuation models may be used as the pricing source for any remaining investments classified as Level 3. These models rely on one or more significant unobservable inputs and/or significant assumptions by the Fund Administrator. Inputs used in a valuation model may include, but are not limited to, financial statement analysis, discount rates and estimated cash flows, and comparable company data.

The following table is a summary of the inputs used to value the Fund’s investments as of Aug. 31, 2009:

	Fair value at Aug. 31, 2009
	Level 1		Level 2
	quoted prices		other		Level 3
	in active		significant		significant
	markets for		observable		unobservable
Description	identical assets		inputs		inputs		Total
Equity Securities
Common Stocks(a)	$	636,201,292	$	—	$	—	$	636,201,292
Total Equity Securities		636,201,292		—		—		636,201,292
Other
Options Purchased		16,250		—		—		16,250
Affiliated Money Market Fund(b)		28,827,216		—		—		28,827,216
Investments of Cash Collateral Received for Securities on Loan(c)		91,896,899		93,970,756		—		185,867,655
Total Other		120,740,365		93,970,756		—		214,711,121
Investments in Securities		756,941,657		93,970,756		—		850,912,413
Other Financial Instruments(d)		208,978		—		—		208,978
Total	$	757,150,635	$	93,970,756	$	—	$	851,121,391

(a)	All industry classifications are identified in the Portfolio of Investments.
(b)	Money market fund that is a sweep investment for cash balances in the Fund at Aug. 31, 2009.
(c)	Asset categories for Investments of Cash Collateral are identified in the Portfolio of Investments.
(d)	Other Financial Instruments are derivative instruments, which are valued at the unrealized appreciation (depreciation) on the instrument. Derivative descriptions are located in the Investments in Derivatives section of the Portfolio of Investments.

Item 2. Control and Procedures.

(a) Based upon their evaluation of the registrant’s disclosure controls and procedures as conducted within 90 days of the filing date of this report, the registrant’s principal financial officer and principal executive officer have concluded that those disclosure controls and procedures provide reasonable assurance that the material information required to be disclosed by the registrant on this report is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms.

(b) There were no changes in the registrant’s internal control over financial reporting that occurred during the registrant’s last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 3. Exhibits.

Separate certification for the Registrant’s principal executive officer and principal financial officer as required by Rule 30a-2(a) under the Investment Company Act of 1940.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant)			RiverSource Equity Series, Inc.
By	/s/ Patrick T. Bannigan
		Patrick T. Bannigan
		President and Principal Executive Officer
Date October 29, 2009

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

By	/s/ Patrick T. Bannigan
	Patrick T. Bannigan
	President and Principal Executive Officer
Date October 29, 2009
By	/s/ Jeffrey P. Fox
	Jeffrey P. Fox
	Treasurer and Principal Financial Officer
Date October 29, 2009

EX-99.CERT

Certification Pursuant to
270.30a-2 of the Investment Company Act of 1940

I, Patrick T. Bannigan, certify that:

1.	I have reviewed this report on Form N-Q of RiverSource Equity Series, Inc.;
2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.	Based on my knowledge, the schedule of investments included in this report, fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;
4.	The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principals;

c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures as of a date within 90 days prior to the filing date of this report based on such evaluation and

d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: October 20, 2009
/s/ Patrick T. Bannigan
Name:	Patrick T. Bannigan
Title:	President and Principal Executive Officer

Certification Pursuant to
270.30a-2 of the Investment Company Act of 1940

I, Jeffrey P. Fox, certify that:

1.	I have reviewed this report on Form N-Q of RiverSource Equity Series, Inc.;
2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.	Based on my knowledge, the schedule of investments included in this report, fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;
4.	The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principals;

c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures as of a date within 90 days prior to the filing date of this report based on such evaluation and

d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: October 20, 2009
/s/ Jeffrey P. Fox
Name:	Jeffrey P. Fox
Title:	Treasurer and Chief Financial Officer