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 811-5897

RIVERSOURCE MARKET ADVANTAGE 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: 1/31

Date of reporting period: 10/31

Investments in Affiliated Funds
RiverSource Portfolio Builder Conservative Fund
Oct. 31, 2009 (Unaudited)

(Percentages represent value of investments compared to net assets)

Equity Funds (21.7%)

	Shares			Value(a)
Dividend Income (0.9%)
RiverSource Dividend Opportunity Fund		352,525		$	2,256,157
International (6.4%)
RiverSource Disciplined International Equity Fund		201,538			1,414,796
RiverSource Partners International Select Growth Fund		790,671			4,633,335
RiverSource Partners International Select Value Fund		759,130	(b)		4,425,729
RiverSource Partners International Small Cap Fund		146,511	(b)		758,927
Seligman Global Technology Fund		30,640	(b)		506,171
Threadneedle Global Equity Fund		136,458			840,580
Threadneedle International Opportunity Fund		363,321			2,823,003
Total					15,402,541
Real Estate (1.4%)
RiverSource Real Estate Fund		423,354			3,289,460
U.S. Large Cap (9.7%)
RiverSource Disciplined Equity Fund		913,959			4,076,258
RiverSource Disciplined Large Cap Growth Fund		467,193			3,457,230
RiverSource Diversified Equity Income Fund		554,411			4,523,994
RiverSource Partners Fundamental Value Fund		820,219			3,502,334
RiverSource Recovery and Infrastructure Fund		121,649	(b)		1,852,710
Seligman Communications & Information Fund		21,341	(b)		781,928
Seligman Growth Fund		1,229,945	(b)		4,735,288
Seligman Large Cap Value Fund		42,038	(b)		505,294
Total					23,435,036
U.S. Mid Cap (2.5%)
RiverSource Equity Value Fund		40,960			353,487
RiverSource Mid Cap Growth Fund		184,386	(b)		1,650,255
RiverSource Mid Cap Value Fund		155,222			935,987
RiverSource Partners Aggressive Growth Fund		256,032	(b)		1,756,380
RiverSource Partners Select Value Fund		334,958			1,256,091
Total					5,952,200
U.S. Small Cap (0.8%)
RiverSource Partners Small Cap Growth Fund		289,206	(b)		861,835
RiverSource Partners Small Cap Value Fund		224,515	(b)		947,453
Total					1,809,288
Total Equity Funds (Cost: $52,244,129)				$	52,144,682
Fixed Income Funds (73.2%)

	Shares		Value(a)
Global Bond (5.5%)
RiverSource Global Bond Fund		1,842,412	$	13,099,548

	Shares			Value(a)
Inflation Protected Securities (7.9%)
RiverSource Inflation Protected Securities Fund		1,879,634			18,927,913
Investment Grade (59.8%)
RiverSource Diversified Bond Fund		11,683,623			56,431,900
RiverSource Limited Duration Bond Fund		5,645,663	(c)		54,650,017
RiverSource Short Duration U.S. Government Fund		6,934,031			32,728,625
Total					143,810,542
Total Fixed Income Funds (Cost: $171,729,198)				$	175,838,003
Cash Equivalents (5.0%)

	Shares		Value(a)
Money Market
RiverSource Cash Management Fund		11,987,896	$	11,987,896
Total Cash Equivalents (Cost: $11,987,896)			$	11,987,896
Total Investments in Affiliated Funds (Cost: $235,961,223)(d)			$	239,970,581

Notes to Investments in Affiliated Funds

(a)	Securities are valued by using policies described in Note 2 to the financial statements in the most recent Semiannual Report dated July 31, 2009.
(b)	Non-income producing.
(c)	The fund does not invest in underlying funds for the purpose of exercising management or control. At Oct. 31, 2009, the fund held the following positions, which exceed 5% of the underlying fund’s shares outstanding:

Underlying fund	Percent of shares held
RiverSource Limited Duration Bond Fund		14.00	%

(d) At Oct. 31, 2009, the cost of securities for federal income tax purposes was approximately $235,961,000 and the approximate aggregate gross unrealized appreciation and depreciation based on that cost was:

Unrealized appreciation	$	6,445,000
Unrealized depreciation		(2,435,000	)
Net unrealized appreciation	$	4,010,000

Fair Value Measurements

Generally accepted accounting principles (GAAP) require 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.

The Fund categorizes its fair value measurements according to a three-level hierarchy 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. 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.

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 Oct. 31, 2009:

	Fair value at Oct. 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
Investments in Affiliated Funds	$	239,970,581	$	—	$	—	$	239,970,581

Investments in Affiliated Funds
RiverSource Portfolio Builder Moderate Conservative Fund
Oct. 31, 2009 (Unaudited)

(Percentages represent value of investments compared to net assets)

Equity Funds (36.0%)

	Shares			Value(a)
Dividend Income (1.6%)
RiverSource Dividend Opportunity Fund		1,014,661		$	6,493,829
International (11.0%)
RiverSource Disciplined International Equity Fund		521,161			3,658,549
RiverSource Partners International Select Growth Fund		2,036,953			11,936,547
RiverSource Partners International Select Value Fund		1,959,661	(b)		11,424,826
RiverSource Partners International Small Cap Fund		382,205	(b)		1,979,823
Seligman Global Technology Fund		89,355	(b)		1,476,146
Threadneedle Emerging Markets Fund		554,133	(b)		4,455,230
Threadneedle Global Equity Fund		390,184			2,403,532
Threadneedle International Opportunity Fund		934,424			7,260,475
Total					44,595,128
Real Estate (1.4%)
RiverSource Real Estate Fund		722,748			5,615,750
U.S. Large Cap (16.5%)
RiverSource Disciplined Equity Fund		2,623,283			11,699,842
RiverSource Disciplined Large Cap Growth Fund		1,354,487			10,023,200
RiverSource Diversified Equity Income Fund		1,595,286			13,017,538
RiverSource Partners Fundamental Value Fund		2,370,926			10,123,854
RiverSource Recovery and Infrastructure Fund		348,763	(b)		5,311,665
Seligman Communications & Information Fund		61,211	(b)		2,242,754
Seligman Growth Fund		3,542,490	(b)		13,638,587
Seligman Large Cap Value Fund		119,163	(b)		1,432,338
Total					67,489,778
U.S. Mid Cap (4.2%)
RiverSource Equity Value Fund		120,463			1,039,598
RiverSource Mid Cap Growth Fund		532,884	(b)		4,769,310
RiverSource Mid Cap Value Fund		445,493			2,686,321
RiverSource Partners Aggressive Growth Fund		734,900	(b)		5,041,411
RiverSource Partners Select Value Fund		976,614			3,662,302
Total					17,198,942
U.S. Small Cap (1.3%)
RiverSource Partners Small Cap Growth Fund		821,409	(b)		2,447,798
RiverSource Partners Small Cap Value Fund		647,334	(b)		2,731,750
Total					5,179,548
Total Equity Funds (Cost: $159,876,878)				$	146,572,975
Fixed Income Funds (64.0%)

	Shares		Value(a)
Floating Rate (1.3%)
RiverSource Floating Rate Fund		630,448	$	5,226,412

	Shares			Value(a)
Global Bond (5.7%)
RiverSource Global Bond Fund		3,280,336			23,323,191
High Yield (3.2%)
RiverSource Income Opportunities Fund		1,408,966			13,159,747
Inflation Protected Securities (6.4%)
RiverSource Inflation Protected Securities Fund		2,606,687			26,249,337
Investment Grade (47.4%)
RiverSource Diversified Bond Fund		24,772,407			119,650,725
RiverSource Limited Duration Bond Fund		4,854,884	(c)		46,995,274
RiverSource Short Duration U.S. Government Fund		5,477,178			25,852,278
Total					192,498,277
Total Fixed Income Funds (Cost: $253,051,614)				$	260,456,964
Cash Equivalents (—%)

	Shares		Value(a)
Money Market
RiverSource Cash Management Fund		26	$	26
Total Cash Equivalents (Cost: $26)			$	26
Total Investments in Affiliated Funds (Cost: $412,928,518)(d)			$	407,029,965

Notes to Investments in Affiliated Funds

(a)	Securities are valued by using policies described in Note 2 to the financial statements in the most recent Semiannual Report dated July 31, 2009.
(b)	Non-income producing.
(c)	The fund does not invest in underlying funds for the purpose of exercising management or control. At Oct. 31, 2009, the fund held the following positions, which exceed 5% of the underlying fund’s shares outstanding:

Underlying fund	Percent of shares held
RiverSource Limited Duration Bond Fund		12.07	%

(d) At Oct. 31, 2009, the cost of securities for federal income tax purposes was approximately $412,929,000 and the approximate aggregate gross unrealized appreciation and depreciation based on that cost was:

Unrealized appreciation	$	12,802,000
Unrealized depreciation		(18,701,000	)
Net unrealized depreciation	$	(5,899,000	)

Fair Value Measurements

Generally accepted accounting principles (GAAP) require 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.

The Fund categorizes its fair value measurements according to a three-level hierarchy 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. 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.

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 Oct. 31, 2009:

	Fair value at Oct. 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
Investments in Affiliated Funds	$	407,029,965	$	—	$	—	$	407,029,965

Investments in Affiliated Funds
RiverSource Portfolio Builder Moderate Fund
Oct. 31, 2009 (Unaudited)

(Percentages represent value of investments compared to net assets)

Equity Funds (52.3%)

	Shares			Value(a)
Dividend Income (2.3%)
RiverSource Dividend Opportunity Fund		4,040,823		$	25,861,266
International (16.1%)
RiverSource Disciplined International Equity Fund		2,093,018			14,692,986
RiverSource Partners International Select Growth Fund		8,137,912	(c)		47,688,166
RiverSource Partners International Select Value Fund		7,813,250	(b)		45,551,246
RiverSource Partners International Small Cap Fund		1,536,337	(b,c)		7,958,225
Seligman Global Technology Fund		359,613	(b)		5,940,804
Threadneedle Emerging Markets Fund		2,188,560	(b)		17,596,025
Threadneedle Global Equity Fund		1,548,120			9,536,420
Threadneedle International Opportunity Fund		3,735,766	(c)		29,026,899
Total					177,990,771
Real Estate (1.4%)
RiverSource Real Estate Fund		1,976,273	(c)		15,355,642
U.S. Large Cap (24.4%)
RiverSource Disciplined Equity Fund		10,464,580			46,672,029
RiverSource Disciplined Large Cap Growth Fund		5,403,747	(c)		39,987,729
RiverSource Diversified Equity Income Fund		6,370,361			51,982,142
RiverSource Partners Fundamental Value Fund		9,470,753	(c)		40,440,113
RiverSource Recovery and Infrastructure Fund		1,395,487	(b,c)		21,253,267
Seligman Communications & Information Fund		242,984	(b)		8,902,946
Seligman Growth Fund		14,122,193	(b)		54,370,442
Seligman Large Cap Value Fund		476,172	(b)		5,723,591
Total					269,332,259
U.S. Mid Cap (6.2%)
RiverSource Equity Value Fund		481,430			4,154,744
RiverSource Mid Cap Growth Fund		2,121,592	(b)		18,988,248
RiverSource Mid Cap Value Fund		1,782,493			10,748,431
RiverSource Partners Aggressive Growth Fund		2,930,228	(b,c)		20,101,366
RiverSource Partners Select Value Fund		3,890,153	(c)		14,588,073
Total					68,580,862
U.S. Small Cap (1.9%)
RiverSource Partners Small Cap Growth Fund		3,282,078	(b,c)		9,780,592
RiverSource Partners Small Cap Value Fund		2,565,978	(b)		10,828,425
Total					20,609,017
Total Equity Funds (Cost: $660,491,500)				$	577,729,817
Fixed Income Funds (47.6%)

	Shares		Value(a)
Floating Rate (1.0%)
RiverSource Floating Rate Fund		1,286,659	$	10,666,400

	Shares			Value(a)
Global Bond (4.7%)
RiverSource Global Bond Fund		7,364,409	(c)		52,360,948
High Yield (7.2%)
RiverSource Income Opportunities Fund		8,509,282	(c)		79,476,697
Inflation Protected Securities (4.8%)
RiverSource Inflation Protected Securities Fund		5,253,797	(c)		52,905,738
Investment Grade (29.9%)
RiverSource Diversified Bond Fund		65,198,605	(c)		314,909,261
RiverSource Limited Duration Bond Fund		1,633,006			15,807,493
Total					330,716,754
Total Fixed Income Funds (Cost: $502,622,350)				$	526,126,537
Cash Equivalents (—%)

	Shares		Value(a)
Money Market
RiverSource Cash Management Fund		213	$	213
Total Cash Equivalents (Cost: $213)			$	213
Total Investments in Affiliated Funds (Cost: $1,163,114,063)(d)			$	1,103,856,567

Notes to Investments in Affiliated Funds

(a)	Securities are valued by using policies described in Note 2 to the financial statements in the most recent Semiannual Report dated July 31, 2009.
(b)	Non-income producing.
(c)	The fund does not invest in underlying funds for the purpose of exercising management or control. At Oct. 31, 2009, the fund held the following positions, which exceed 5% of the underlying fund’s shares outstanding:

Underlying fund	Percent of shares held
RiverSource Partners International Small Cap Fund		12.72	%
RiverSource Partners International Select Growth Fund		11.56
RiverSource Income Opportunities Fund		10.83
RiverSource Real Estate Fund		10.45
RiverSource Global Bond Fund		10.08
RiverSource Partners Small Cap Growth Fund		9.71
RiverSource Inflation Protected Securities Fund		8.21
RiverSource Diversified Bond Fund		7.56
Threadneedle International Opportunity Fund		7.13
RiverSource Partners Fundamental Value Fund		6.99
RiverSource Recovery and Infrastructure Fund		6.35
RiverSource Partners Aggressive Growth Fund		6.20
RiverSource Disciplined Large Cap Growth Fund		5.68
RiverSource Partners Select Value Fund		5.09

(d) At Oct. 31, 2009, the cost of securities for federal income tax purposes was approximately $1,163,114,000 and the approximate aggregate gross unrealized appreciation and depreciation based on that cost was:

Unrealized appreciation	$	41,659,000
Unrealized depreciation		(100,916,000	)
Net unrealized depreciation	$	(59,257,000	)

Fair Value Measurements

Generally accepted accounting principles (GAAP) require 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.

The Fund categorizes its fair value measurements according to a three-level hierarchy 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. 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.

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 Oct. 31, 2009:

	Fair value at Oct. 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
Investments in Affiliated Funds	$	1,103,856,567	$	—	$	—	$	1,103,856,567

Investments in Affiliated Funds
RiverSource Portfolio Builder Moderate Aggressive Fund
Oct. 31, 2009 (Unaudited)

(Percentages represent value of investments compared to net assets)

Equity Funds (68.0%)

	Shares			Value(a)
Dividend Income (3.1%)
RiverSource Dividend Opportunity Fund		4,831,304		$	30,920,343
International (21.0%)
RiverSource Disciplined International Equity Fund		2,511,295			17,629,294
RiverSource Partners International Select Growth Fund		9,741,116	(c)		57,082,939
RiverSource Partners International Select Value Fund		9,341,870	(b,c)		54,463,103
RiverSource Partners International Small Cap Fund		1,835,530	(b,c)		9,508,046
Seligman Global Technology Fund		432,901	(b)		7,151,530
Threadneedle Emerging Markets Fund		2,622,646	(b)		21,086,074
Threadneedle Global Equity Fund		1,860,142			11,458,475
Threadneedle International Opportunity Fund		4,482,678	(c)		34,830,412
Total					213,209,873
Real Estate (1.4%)
RiverSource LaSalle Monthly Dividend Real Estate Fund		467,836	(c)		1,473,682
RiverSource Real Estate Fund		1,631,115	(c)		12,673,766
Total					14,147,448
U.S. Large Cap (32.0%)
RiverSource Disciplined Equity Fund		12,542,450			55,939,328
RiverSource Disciplined Large Cap Growth Fund		6,482,078	(c)		47,967,374
RiverSource Diversified Equity Income Fund		7,627,982			62,244,337
RiverSource Partners Fundamental Value Fund		11,308,996	(c)		48,289,415
RiverSource Recovery and Infrastructure Fund		1,667,935	(b,c)		25,402,657
Seligman Capital Fund		45,674	(b)		860,489
Seligman Communications & Information Fund		296,112	(b)		10,849,538
Seligman Growth Fund		16,910,562	(b)		65,105,662
Seligman Large Cap Value Fund		573,641	(b)		6,895,159
Total					323,553,959
U.S. Mid Cap (8.0%)
RiverSource Equity Value Fund		573,996			4,953,584
RiverSource Mid Cap Growth Fund		2,495,719	(b)		22,336,685
RiverSource Mid Cap Value Fund		2,120,912			12,789,099
RiverSource Partners Aggressive Growth Fund		3,440,856	(b,c)		23,604,270
RiverSource Partners Select Value Fund		4,646,203	(c)		17,423,260
Total					81,106,898
U.S. Small Cap (2.5%)
RiverSource Partners Small Cap Growth Fund		3,959,147	(b,c)		11,798,257
RiverSource Partners Small Cap Value Fund		3,084,918	(b)		13,018,355
Total					24,816,612
Total Equity Funds (Cost: $823,980,760)				$	687,755,133

Fixed Income Funds (32.1%)

	Shares			Value(a)
Floating Rate (1.0%)
RiverSource Floating Rate Fund		1,182,547		$	9,803,314
Global Bond (4.5%)
RiverSource Global Bond Fund		6,361,618	(c)		45,231,100
High Yield (5.2%)
RiverSource Income Opportunities Fund		5,603,722	(c)		52,338,761
Inflation Protected Securities (3.2%)
RiverSource Inflation Protected Securities Fund		3,231,962	(c)		32,545,860
Investment Grade (18.2%)
RiverSource Diversified Bond Fund		36,835,866			177,917,234
RiverSource Limited Duration Bond Fund		674,139			6,525,662
Total					184,442,896
Total Fixed Income Funds (Cost: $313,996,294)				$	324,361,931

Cash Equivalents (—%)

	Shares		Value(a)
Money Market
RiverSource Cash Management Fund		25	$	25
Total Cash Equivalents (Cost: $25)			$	25
Total Investments in Affiliated Funds (Cost: $1,137,977,079)(d)			$	1,012,117,089

Notes to Investments in Affiliated Funds
(a)	Securities are valued by using policies described in Note 2 to the financial statements in the most recent Semiannual Report dated July 31, 2009.
(b)	Non-income producing.
(c)	The fund does not invest in underlying funds for the purpose of exercising management or control. At Oct. 31, 2009, the fund held the following positions, which exceed 5% of the underlying fund’s shares outstanding:

Underlying fund	Percent of shares held
RiverSource Partners International Small Cap Fund		15.22	%
RiverSource Partners International Select Growth Fund		13.85
RiverSource Partners Small Cap Growth Fund		11.73
RiverSource Global Bond Fund		8.72
RiverSource Real Estate Fund		8.64
Threadneedle International Opportunity Fund		8.56
RiverSource Partners Fundamental Value Fund		8.35
RiverSource Recovery and Infrastructure Fund		7.60
RiverSource Partners Aggressive Growth Fund		7.29
RiverSource Income Opportunities Fund		7.14
RiverSource Disciplined Large Cap Growth Fund		6.82
RiverSource LaSalle Monthly Dividend Real Estate Fund		6.24
RiverSource Partners Select Value Fund		6.08

Underlying fund	Percent of shares held
RiverSource Partners International Select Value Fund		5.37
RiverSource Inflation Protected Securities Fund		5.05

(d) At Oct. 31, 2009, the cost of securities for federal income tax purposes was approximately $1,137,977,000 and the approximate aggregate gross unrealized appreciation and depreciation based on that cost was:

Unrealized appreciation	$	30,890,000
Unrealized depreciation		(156,750,000	)
Net unrealized depreciation	$	(125,860,000	)

Fair Value Measurements

Generally accepted accounting principles (GAAP) require 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.

The Fund categorizes its fair value measurements according to a three-level hierarchy 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. 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.

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 Oct. 31, 2009:

	Fair value at Oct. 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
Investments in Affiliated Funds	$	1,012,117,089	$	—	$	—	$	1,012,117,089

Investments in Affiliated Funds
RiverSource Portfolio Builder Aggressive Fund
Oct. 31, 2009 (Unaudited)

(Percentages represent value of investments compared to net assets)

Equity Funds (83.5%)

	Shares			Value(a)
Dividend Income (3.8%)
RiverSource Dividend Opportunity Fund		2,921,171		$	18,695,494
International (25.5%)
RiverSource Disciplined International Equity Fund		1,514,537			10,632,050
RiverSource Partners International Select Growth Fund		5,886,249	(c)		34,493,418
RiverSource Partners International Select Value Fund		5,658,006	(b)		32,986,173
RiverSource Partners International Small Cap Fund		1,087,082	(b,c)		5,631,085
Seligman Global Technology Fund		260,769	(b)		4,307,904
Threadneedle Emerging Markets Fund		1,584,892	(b)		12,742,530
Threadneedle Global Equity Fund		727,095			4,478,904
Threadneedle International Opportunity Fund		2,716,421	(c)		21,106,592
Total					126,378,656
Real Estate (1.9%)
RiverSource LaSalle Global Real Estate Fund		695,156	(b,c)		2,314,870
RiverSource Real Estate Fund		904,272			7,026,191
Total					9,341,061
U.S. Large Cap (40.1%)
RiverSource Disciplined Equity Fund		7,598,224			33,888,078
RiverSource Disciplined Large Cap Growth Fund		3,921,627			29,020,039
RiverSource Diversified Equity Income Fund		4,619,681			37,696,595
RiverSource Partners Fundamental Value Fund		6,864,993	(c)		29,313,520
RiverSource Recovery and Infrastructure Fund		1,004,436	(b)		15,297,561
Seligman Capital Fund		214,756	(b)		4,046,001
Seligman Communications & Information Fund		177,821	(b)		6,515,369
Seligman Growth Fund		10,239,785	(b)		39,423,172
Seligman Large Cap Value Fund		336,132	(b)		4,040,309
Total					199,240,644
U.S. Mid Cap (9.2%)
RiverSource Equity Value Fund		347,653			3,000,249
RiverSource Mid Cap Growth Fund		1,307,930	(b)		11,705,977
RiverSource Mid Cap Value Fund		1,291,006			7,784,768
RiverSource Partners Aggressive Growth Fund		1,821,483	(b)		12,495,375
RiverSource Partners Select Value Fund		2,820,947			10,578,550
Total					45,564,919
U.S. Small Cap (3.0%)
RiverSource Partners Small Cap Growth Fund		2,383,981	(b,c)		7,104,263
RiverSource Partners Small Cap Value Fund		1,518,511	(b)		6,408,117
Seligman Smaller-Cap Value Fund		118,471	(b)		1,405,064
Total					14,917,444
Total Equity Funds (Cost: $500,530,686)				$	414,138,218

Fixed Income Funds (16.5%)

	Shares		Value(a)
Floating Rate (0.6%)
RiverSource Floating Rate Fund		349,745	$	2,899,385
Global Bond (2.5%)
RiverSource Global Bond Fund		1,721,095		12,236,987
High Yield (3.3%)
RiverSource Income Opportunities Fund		1,769,924		16,531,090
Inflation Protected Securities (1.7%)
RiverSource Inflation Protected Securities Fund		819,642		8,253,798
Investment Grade (8.4%)
RiverSource Diversified Bond Fund		8,463,326		40,877,867
RiverSource Limited Duration Bond Fund		129,373		1,252,330
Total				42,130,197
Total Fixed Income Funds (Cost: $77,690,515)			$	82,051,457

Cash Equivalents (—%)

	Shares		Value(a)
Money Market
RiverSource Cash Management Fund		134	$	134
Total Cash Equivalents (Cost: $134)			$	134
Total Investments in Affiliated Funds (Cost: $578,221,335)(d)			$	496,189,809

Notes to Investments in Affiliated Funds
(a)	Securities are valued by using policies described in Note 2 to the financial statements in the most recent Semiannual Report dated July 31, 2009.
(b)	Non-income producing.
(c)	The fund does not invest in underlying funds for the purpose of exercising management or control. At Oct. 31, 2009, the fund held the following positions, which exceed 5% of the underlying fund’s shares outstanding:

Underlying fund	Percent of shares held
RiverSource LaSalle Global Real Estate Fund		16.92	%
RiverSource Partners International Small Cap Fund		9.01
RiverSource Partners International Select Growth Fund		8.37
RiverSource Partners Small Cap Growth Fund		7.06
Threadneedle International Opportunity Fund		5.19
RiverSource Partners Fundamental Value Fund		5.07

(d) At Oct. 31, 2009, the cost of securities for federal income tax purposes was approximately $578,221,000 and the approximate aggregate gross unrealized appreciation and depreciation based on that cost was:

Unrealized appreciation	$	14,857,000
Unrealized depreciation		(96,888,000	)
Net unrealized depreciation	$	(82,031,000	)

Fair Value Measurements

Generally accepted accounting principles (GAAP) require 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.

The Fund categorizes its fair value measurements according to a three-level hierarchy 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. 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.

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 Oct. 31, 2009:

	Fair value at Oct. 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
Investments in Affiliated Funds	$	496,189,809	$	—	$	—	$	496,189,809

Investments in Affiliated Funds
RiverSource Portfolio Builder Total Equity Fund
Oct. 31, 2009 (Unaudited)

(Percentages represent value of investments compared to net assets)

Equity Funds (100.0%)

	Shares			Value(a)
Dividend Income (4.5%)
RiverSource Dividend Opportunity Fund		3,012,543		$	19,280,272
International (30.4%)
RiverSource Disciplined International Equity Fund		1,561,247			10,959,953
RiverSource Partners International Select Growth Fund		6,057,400	(c)		35,496,361
RiverSource Partners International Select Value Fund		5,824,139	(b)		33,954,732
RiverSource Partners International Small Cap Fund		1,090,079	(b,c)		5,646,610
Seligman Global Technology Fund		268,284	(b)		4,432,057
Threadneedle Emerging Markets Fund		1,623,832	(b)		13,055,611
Threadneedle Global Equity Fund		626,892			3,861,655
Threadneedle International Opportunity Fund		2,792,759	(c)		21,699,738
Total					129,106,717
Real Estate (2.2%)
RiverSource LaSalle Global Real Estate Fund		927,688	(b,c)		3,089,202
RiverSource Real Estate Fund		780,796			6,066,783
Total					9,155,985
U.S. Large Cap (48.8%)
RiverSource Disciplined Equity Fund		7,816,252			34,860,482
RiverSource Disciplined Large Cap Growth Fund		4,027,929			29,806,678
RiverSource Diversified Equity Income Fund		4,742,851			38,701,661
RiverSource Partners Fundamental Value Fund		7,067,227	(c)		30,177,058
RiverSource Recovery and Infrastructure Fund		1,042,889	(b)		15,883,203
Seligman Capital Fund		320,687	(b)		6,041,741
Seligman Communications & Information Fund		181,903	(b)		6,664,943
Seligman Growth Fund		10,525,440	(b)		40,522,944
Seligman Large Cap Value Fund		346,115	(b)		4,160,301
Total					206,819,011
U.S. Mid Cap (10.6%)
RiverSource Equity Value Fund		360,506			3,111,169
RiverSource Mid Cap Growth Fund		1,238,641	(b)		11,085,840
RiverSource Mid Cap Value Fund		1,324,940			7,989,390
RiverSource Partners Aggressive Growth Fund		1,736,935	(b)		11,915,371
RiverSource Partners Select Value Fund		2,895,604			10,858,517
Total					44,960,287
U.S. Small Cap (3.5%)
RiverSource Partners Small Cap Growth Fund		2,114,885	(b,c)		6,302,357
RiverSource Partners Small Cap Value Fund		872,652	(b)		3,682,593
Seligman Frontier Fund		114,228	(b)	$	994,925
Seligman Smaller-Cap Value Fund		352,676	(b)		4,182,736
Total					15,162,611
Total Equity Funds (Cost: $516,601,431)				$	424,484,883

Cash Equivalents (—%)

	Shares		Value(a)
Money Market
RiverSource Cash Management Fund		28	$	28
Total Cash Equivalents (Cost: $28)			$	28
Total Investments in Affiliated Funds (Cost: $516,601,459)(d)			$	424,484,911

Notes to Investments in Affiliated Funds
(a)	Securities are valued by using policies described in Note 2 to the financial statements in the most recent Semiannual Report dated July 31, 2009.
(b)	Non-income producing.
(c)	The fund does not invest in underlying funds for the purpose of exercising management or control. At Oct. 31, 2009, the fund held the following positions, which exceed 5% of the underlying fund’s shares outstanding:

Underlying fund	Percent of shares held
RiverSource LaSalle Global Real Estate Fund		22.58	%
RiverSource Partners International Small Cap Fund		9.04
RiverSource Partners International Select Growth Fund		8.62
RiverSource Partners Small Cap Growth Fund		6.27
Threadneedle International Opportunity Fund		5.34
RiverSource Partners Fundamental Value Fund		5.22

(d) At Oct. 31, 2009, the cost of securities for federal income tax purposes was approximately $516,601,000 and the approximate aggregate gross unrealized appreciation and depreciation based on that cost was:

Unrealized appreciation	$	9,744,000
Unrealized depreciation		(101,860,000	)
Net unrealized depreciation	$	(92,116,000	)

Fair Value Measurements

Generally accepted accounting principles (GAAP) require 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.

The Fund categorizes its fair value measurements according to a three-level hierarchy 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. 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.

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 Oct. 31, 2009:

	Fair value at Oct. 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
Investments in Affiliated Funds	$	424,484,911	$	—	$	—	$	424,484,911

Portfolio of Investments
RiverSource S&P 500 Index Fund
Oct. 31, 2009 (Unaudited)

(Percentages represent value of investments compared to net assets)

Investments in Securities

Common Stocks (99.6%)

Issuer	Shares			Value(a)
Aerospace & Defense (2.6%)
Boeing		8,875		$	424,225
General Dynamics		4,402			276,005
Goodrich		2,391			129,951
Honeywell Intl		8,825			316,729
ITT		1,727			87,559
L-3 Communications Holdings		1,795			129,761
Lockheed Martin		3,754			258,238
Northrop Grumman		4,936			247,442
Precision Castparts		2,004			191,442
Raytheon		4,234			191,716
Rockwell Collins		2,848	(e)		143,482
United Technologies		11,630			714,663
Total					3,111,213
Air Freight & Logistics (1.0%)
CH Robinson Worldwide		2,887	(e)		159,103
Expeditors Intl of Washington		3,031	(e)		97,659
FedEx		3,584			260,521
United Parcel Service Cl B		13,750			738,099
Total					1,255,382
Airlines (—%)
Southwest Airlines		5,605			47,082
Auto Components (0.2%)
Goodyear Tire & Rubber		6,369	(b)		82,033
Johnson Controls		7,064			168,971
Total					251,004
Automobiles (0.4%)
Ford Motor		48,385	(b,e)		338,695
Harley-Davidson		4,584	(e)		114,233
Total					452,928
Beverages (2.7%)
Brown-Forman Cl B		804			39,243
Coca-Cola		29,403			1,567,475
Coca-Cola Enterprises		6,449			122,982
Constellation Brands Cl A		5,177	(b)		81,900
Dr Pepper Snapple Group		1,871	(b)		51,003
Molson Coors Brewing Cl B		1,301			63,710
Pepsi Bottling Group		2,904			108,726
PepsiCo		20,488			1,240,548
Total					3,275,587
Biotechnology (1.5%)
Amgen		12,878	(b)		691,936
Biogen Idec		4,768	(b)		200,876

Issuer	Shares			Value(a)
Celgene		5,079	(b)		259,283
Cephalon		897	(b,e)		48,958
Genzyme		2,784	(b)		140,870
Gilead Sciences		10,737	(b)		456,859
Total					1,798,782
Building Products (0.1%)
Masco		8,235	(e)		96,761
Capital Markets (2.9%)
Ameriprise Financial		4,016			139,235
Bank of New York Mellon		14,625			389,903
Charles Schwab		10,334			179,192
E*TRADE Financial		20,713	(b)		30,241
Federated Investors Cl B		640	(e)		16,800
Franklin Resources		2,369			247,868
Goldman Sachs Group		7,009			1,192,722
Invesco		3,809			80,560
Janus Capital Group		5,603	(e)		73,511
Legg Mason		1,987	(e)		57,842
Morgan Stanley		19,278			619,209
Northern Trust		2,571	(e)		129,193
State Street		5,777			242,518
T Rowe Price Group		2,654	(e)		129,329
Total					3,528,123
Chemicals (1.9%)
Air Products & Chemicals		2,655			204,780
Airgas		594			26,350
CF Inds Holdings		381			31,718
Dow Chemical		17,164			403,011
Eastman Chemical		1,770	(e)		92,943
Ecolab		2,597			114,164
EI du Pont de Nemours & Co		12,959			412,355
FMC		537	(e)		27,441
Intl Flavors & Fragrances		1,038			39,537
Monsanto		6,626			445,135
PPG Inds		1,729	(e)		97,567
Praxair		3,566			283,283
Sigma-Aldrich		917	(e)		47,620
Total					2,225,904
Commercial Banks (2.9%)
BB&T		7,512	(e)		179,612
Comerica		1,644	(e)		45,621
Fifth Third Bancorp		15,200			135,888
First Horizon Natl		6,426	(b)		76,020
First Horizon Natl		—	(d)		2
Huntington Bancshares		20,459	(e)		77,949
KeyCorp		9,536			51,399
M&T Bank		633	(e)		39,784
Marshall & Ilsley		12,631			67,197
PNC Financial Services Group		6,787			332,156
Regions Financial		23,358			113,053
SunTrust Banks		4,695	(e)		89,721
US Bancorp		23,833	(e)		553,402
Wells Fargo & Co		62,000			1,706,239
Zions Bancorporation		4,697	(e)		66,510
Total					3,534,553

Issuer	Shares			Value(a)
Commercial Services & Supplies (0.6%)
Avery Dennison		1,264			45,062
Cintas		2,786	(e)		77,144
Iron Mountain		3,986	(b,e)		97,378
Pitney Bowes		4,244	(e)		103,978
Republic Services		2,728			70,682
RR Donnelley & Sons		4,674			93,854
Stericycle		614	(b,e)		32,155
Waste Management		5,127			153,195
Total					673,448
Communications Equipment (2.7%)
Ciena		1,350	(b,e)		15,836
Cisco Systems		73,824	(b)		1,686,879
Harris		2,637			110,016
JDS Uniphase		10,341	(b)		57,806
Juniper Networks		5,259	(b,e)		134,157
Motorola		34,416			294,945
QUALCOMM		20,418			845,509
Tellabs		12,068	(b)		72,649
Total					3,217,797
Computers & Peripherals (5.9%)
Apple		11,957	(b)		2,253,895
Dell		25,214	(b)		365,351
EMC		24,745	(b)		407,550
Hewlett-Packard		30,115			1,429,258
IBM		16,761			2,021,544
Lexmark Intl Cl A		2,657	(b,e)		67,754
NetApp		3,010	(b)		81,421
QLogic		861	(b,e)		15,102
SanDisk		4,963	(b)		101,642
Sun Microsystems		14,669	(b)		119,992
Teradata		1,249	(b)		34,822
Western Digital		4,046	(b)		136,269
Total					7,034,600
Construction & Engineering (0.2%)
Fluor		3,239			143,876
Jacobs Engineering Group		921	(b)		38,949
Quanta Services		1,510	(b)		32,012
Total					214,837
Construction Materials (0.1%)
Vulcan Materials		1,408	(e)		64,810
Consumer Finance (0.8%)
American Express		14,677			511,347
Capital One Financial		4,988			182,561
Discover Financial Services		10,216			144,454
SLM		10,437	(b,e)		101,239
Total					939,601
Containers & Packaging (0.1%)
Ball		1,445			71,282
Bemis		800			20,664
Owens-Illinois		1,250	(b)		39,850
Pactiv		943	(b)		21,774
Sealed Air		1,154			22,191
Total					175,761

Issuer	Shares			Value(a)
Distributors (—%)
Genuine Parts		1,140			39,889
Diversified Consumer Services (0.1%)
Apollo Group Cl A		1,777	(b)		101,467
DeVry		439	(e)		24,272
H&R Block		2,482			45,520
Total					171,259
Diversified Financial Services (4.3%)
Bank of America		118,496			1,727,672
Citigroup		183,492			750,482
CME Group		733			221,813
IntercontinentalExchange		1,376	(b)		137,861
JPMorgan Chase & Co		51,668			2,158,172
Leucadia Natl		1,385	(b,e)		31,121
Moody’s		2,879	(e)		68,175
NASDAQ OMX Group		1,614	(b)		29,149
NYSE Euronext		2,140			55,319
Total					5,179,764
Diversified Telecommunication Services (2.9%)
AT&T		75,640			1,941,679
CenturyTel		5,107			165,772
Frontier Communications		3,782	(e)		27,117
Qwest Communications Intl		30,012	(e)		107,743
Verizon Communications		39,035			1,155,046
Windstream		9,496	(e)		91,541
Total					3,488,898
Electric Utilities (1.9%)
Allegheny Energy		1,271			29,004
American Electric Power		6,270			189,479
Duke Energy		15,714	(e)		248,595
Edison Intl		5,521			175,678
Entergy		2,042			156,662
Exelon		7,779			365,302
FirstEnergy		4,009			173,510
FPL Group		6,216			305,206
Northeast Utilities		1,255			28,928
Pepco Holdings		3,505	(e)		52,330
Pinnacle West Capital		2,175	(e)		68,121
PPL		3,568			105,042
Progress Energy		2,957			110,976
Southern		9,106			284,016
Total					2,292,849
Electrical Equipment (0.4%)
Emerson Electric		8,917			336,617
First Solar		355	(b,e)		43,285
Rockwell Automation		2,284	(e)		93,530
Total					473,432
Electronic Equipment, Instruments & Components (0.5%)
Agilent Technologies		2,970	(b)		73,478
Amphenol Cl A		1,313			52,678

Issuer	Shares			Value(a)
Corning		23,283			340,165
FLIR Systems		1,124	(b,e)		31,258
Jabil Circuit		5,227			69,937
Molex		1,787			33,363
Total					600,879
Energy Equipment & Services (2.0%)
Baker Hughes		4,928	(e)		207,321
BJ Services		5,890			113,088
Cameron Intl		3,989	(b,e)		147,473
Diamond Offshore Drilling		504	(e)		48,006
ENSCO Intl		2,760	(e)		126,380
FMC Technologies		2,375	(b,e)		124,925
Halliburton		11,057			322,975
Nabors Inds		5,606	(b,c)		116,773
Natl Oilwell Varco		4,645	(b)		190,399
Rowan Companies		3,152			73,284
Schlumberger		15,101			939,282
Smith Intl		1,808	(e)		50,136
Total					2,460,042
Food & Staples Retailing (2.9%)
Costco Wholesale		4,967			282,374
CVS Caremark		17,895			631,694
Kroger		10,102			233,659
Safeway		7,020			156,757
SUPERVALU		5,379	(e)		85,365
SYSCO		6,304			166,741
Walgreen		11,861			448,702
Wal-Mart Stores		27,302			1,356,362
Whole Foods Market		3,001	(b)		96,212
Total					3,457,866
Food Products (1.7%)
Archer-Daniels-Midland		9,826			295,959
Campbell Soup		1,382	(e)		43,879
ConAgra Foods		7,490	(e)		157,290
Dean Foods		4,436	(b)		80,868
General Mills		3,614			238,235
Hershey		1,239	(e)		46,822
HJ Heinz		3,073			123,658
Hormel Foods		531	(e)		19,360
JM Smucker		889			46,877
Kellogg		2,543			131,066
Kraft Foods Cl A		20,676			569,003
McCormick & Co		962	(e)		33,680
Sara Lee		12,490			141,012
Tyson Foods Cl A		7,129			89,255
Total					2,016,964
Gas Utilities (0.1%)
EQT		2,189			91,631
Nicor		339	(e)		12,570
Questar		1,284			51,155
Total					155,356
Health Care Equipment & Supplies (1.8%)
Baxter Intl		7,116			384,691
Becton Dickinson & Co		2,535			173,293

Issuer	Shares			Value(a)
Boston Scientific		24,966	(b)		202,724
CareFusion		1,831	(b)		40,959
CR Bard		710			53,300
DENTSPLY Intl		1,267	(e)		41,760
Hospira		1,664	(b)		74,281
Intuitive Surgical		649	(b)		159,881
Medtronic		13,220			471,954
St. Jude Medical		5,685	(b)		193,745
Stryker		2,912			133,952
Varian Medical Systems		942	(b,e)		38,603
Zimmer Holdings		3,606	(b)		189,567
Total					2,158,710
Health Care Providers & Services (2.1%)
Aetna		7,236			188,353
AmerisourceBergen		2,367	(e)		52,429
Cardinal Health		6,042			171,230
CIGNA		4,915			136,834
Coventry Health Care		4,082	(b,e)		80,946
DaVita		769	(b)		40,780
Express Scripts		3,124	(b)		249,670
Five Star Quality Care		—	(d)		1
Humana		1,212	(b)		45,547
Laboratory Corp of America Holdings		873	(b,e)		60,141
McKesson		3,857			226,522
Medco Health Solutions		5,533	(b)		310,512
Patterson Companies		689	(b,e)		17,590
Quest Diagnostics		1,355	(e)		75,785
Tenet Healthcare		13,907	(b,e)		71,204
UnitedHealth Group		16,579			430,225
WellPoint		7,065	(b)		330,359
Total					2,488,128
Health Care Technology (—%)
IMS Health		2,844			46,613
Hotels, Restaurants & Leisure (1.4%)
Carnival Unit		4,442			129,351
Darden Restaurants		1,013	(e)		30,704
Intl Game Technology		5,808	(e)		103,615
Marriott Intl Cl A		1,828	(e)		45,810
McDonald’s		13,446			788,069
Starbucks		11,889	(b,e)		225,653
Starwood Hotels & Resorts Worldwide		1,665	(e)		48,385
Wyndham Worldwide		4,453			75,924
Wynn Resorts		497	(b,e)		26,947
Yum! Brands		4,805			158,325
Total					1,632,783
Household Durables (0.5%)
Black & Decker		1,578			74,513
DR Horton		7,122	(e)		78,057
Fortune Brands		1,229			47,870
Harman Intl Inds		1,331			50,059
KB Home		3,442	(e)		48,808
Leggett & Platt		1,179			22,790
Lennar Cl A		5,305			66,843
Newell Rubbermaid		3,002	(e)		43,559
Pulte Homes		8,246			74,296

Issuer	Shares			Value(a)
Snap-On		447	(e)		16,329
Stanley Works		577	(e)		26,098
Whirlpool		555	(e)		39,732
Total					588,954
Household Products (2.6%)
Clorox		2,011			119,112
Colgate-Palmolive		6,451			507,242
Kimberly-Clark		4,699			287,391
Procter & Gamble		37,350			2,166,300
Total					3,080,045
Independent Power Producers & Energy Traders (0.3%)
AES		12,018	(b)		157,076
Constellation Energy Group		3,897			120,495
Dynegy Cl A		12,704	(b,e)		25,408
Total					302,979
Industrial Conglomerates (2.3%)
3M		8,602			632,849
General Electric		142,540			2,032,621
Textron		5,807	(e)		103,248
Total					2,768,718
Insurance (2.7%)
AFLAC		5,355			222,179
Allstate		8,478			250,694
American Intl Group		2,996	(b,e)		100,726
Aon		2,710			104,362
Assurant		2,890			86,498
Chubb		4,449			215,865
Cincinnati Financial		3,206	(e)		81,304
Genworth Financial Cl A		9,641	(b)		102,387
Hartford Financial Services Group		6,893			169,016
Lincoln Natl		5,705			135,950
Loews		3,663			121,245
Marsh & McLennan Companies		5,310			124,573
MBIA		12,075	(b)		49,025
MetLife		10,080			343,022
Principal Financial Group		3,100	(e)		77,624
Progressive		9,723	(b)		155,568
Prudential Financial		5,359			242,388
Torchmark		1,958	(e)		79,495
Travelers Companies		8,318			414,154
Unum Group		2,673			53,326
XL Capital Cl A		7,051	(c)		115,707
Total					3,245,108
Internet & Catalog Retail (0.5%)
Amazon.com		4,045	(b)		480,586
Expedia		4,558	(b,e)		103,330
Total					583,916
Internet Software & Services (1.9%)
Akamai Technologies		1,386	(b,e)		30,492
eBay		16,139	(b)		359,416
Google Cl A		3,079	(b)		1,650,713
VeriSign		1,418	(b,e)		32,345
Yahoo!		12,798	(b)		203,488
Total					2,276,454

Issuer	Shares			Value(a)
IT Services (1.2%)
Affiliated Computer Services Cl A		2,013	(b)		104,857
Automatic Data Processing		5,466			217,547
Cognizant Technology Solutions Cl A		4,921	(b)		190,197
Computer Sciences		2,800	(b)		141,988
Convergys		5,043	(b)		54,717
Fidelity Natl Information Services		5,839			127,057
Fiserv		2,243	(b)		102,886
MasterCard Cl A		1,097			240,265
Paychex		2,671	(e)		75,883
Total System Services		1,432	(e)		22,869
Western Union		7,031			127,753
Total					1,406,019
Leisure Equipment & Products (0.1%)
Eastman Kodak		13,066	(e)		48,998
Hasbro		900	(e)		24,543
Mattel		2,606			49,331
Total					122,872
Life Sciences Tools & Services (0.4%)
Life Technologies		3,153	(b)		148,727
Millipore		415	(b)		27,809
PerkinElmer		869	(e)		16,172
Thermo Fisher Scientific		4,442	(b)		199,891
Waters		745	(b)		42,785
Total					435,384
Machinery (1.6%)
Caterpillar		8,948	(e)		492,676
Cummins		3,483			149,978
Danaher		2,840			193,773
Deere & Co		6,441			293,387
Dover		1,503			56,633
Eaton		2,366			143,025
Flowserve		1,109			108,915
Illinois Tool Works		4,218			193,691
PACCAR		5,889	(e)		220,307
Pall		894			28,376
Parker Hannifin		1,560	(e)		82,618
Total					1,963,379
Media (2.6%)
CBS Cl B		12,453			146,572
Comcast Cl A		35,224			510,748
DIRECTV Group		4,203	(b,e)		110,539
Gannett		7,289	(e)		71,578
Interpublic Group of Companies		3,524	(b,e)		21,214
McGraw-Hill Companies		5,495	(e)		158,146
Meredith		539	(e)		14,585
New York Times Cl A		6,297	(e)		50,187
News Corp Cl A		33,074			381,012
Omnicom Group		2,858			97,972
Scripps Networks Interactive Cl A		649			24,506
Time Warner		16,675			502,251
Time Warner Cable		3,554			140,170
Viacom Cl B		8,172	(b)		225,465

Issuer	Shares			Value(a)
Walt Disney		22,815			624,448
Washington Post Cl B		46			19,872
Total					3,099,265
Metals & Mining (1.1%)
AK Steel Holding		2,680			42,532
Alcoa		14,669	(e)		182,189
Allegheny Technologies		2,457	(e)		75,823
Freeport-McMoRan Copper & Gold		6,036			442,801
Newmont Mining		5,416			235,379
Nucor		4,378			174,463
Titanium Metals		626	(e)		5,384
United States Steel		3,109	(e)		107,229
Total					1,265,800
Multiline Retail (1.0%)
Big Lots		620	(b,e)		15,531
Family Dollar Stores		2,872			81,278
JC Penney		3,237			107,242
Kohl’s		4,594	(b,f)		262,869
Macy’s		5,798			101,871
Nordstrom		3,272	(e)		103,984
Sears Holdings		1,181	(b,e)		80,143
Target		8,905			431,268
Total					1,184,186
Multi-Utilities (1.3%)
Ameren		4,670			113,668
CenterPoint Energy		2,774			34,952
CMS Energy		3,475	(e)		46,218
Consolidated Edison		3,141			127,776
Dominion Resources		6,563			223,733
DTE Energy		3,135			115,932
Integrys Energy Group		552	(e)		19,099
NiSource		6,854			88,554
PG&E		5,778			236,262
Public Service Enterprise Group		5,785			172,393
SCANA		797	(e)		26,970
Sempra Energy		3,646			187,587
TECO Energy		1,993	(e)		28,580
Wisconsin Energy		879			38,386
Xcel Energy		5,176			97,619
Total					1,557,729
Office Electronics (0.1%)
Xerox		16,542			124,396
Oil, Gas & Consumable Fuels (10.3%)
Anadarko Petroleum		5,882			358,390
Apache		3,964			373,092
Cabot Oil & Gas		1,516			58,321
Chesapeake Energy		10,262			251,419
Chevron		26,810			2,052,037
ConocoPhillips		20,273			1,017,299
CONSOL Energy		1,632			69,866
Denbury Resources		5,848	(b,e)		85,381
Devon Energy		6,359			411,491
El Paso		5,608			55,014
EOG Resources		2,858			233,384

Issuer	Shares			Value(a)
Exxon Mobil		64,024			4,588,600
Hess		3,603			197,228
Kinder Morgan Management LLC		1	(b)		28
Marathon Oil		10,623			339,617
Massey Energy		801	(e)		23,301
Murphy Oil		1,866			114,087
Noble Energy		1,720			112,884
Occidental Petroleum		10,204			774,280
Peabody Energy		2,552			101,034
Pioneer Natural Resources		2,387	(e)		98,130
Range Resources		2,807	(e)		140,490
Southwestern Energy		4,394	(b)		191,491
Spectra Energy		8,494			162,405
Sunoco		2,736			84,269
Tesoro		4,412	(e)		62,386
Valero Energy		9,405			170,231
Williams Companies		5,589			105,353
XTO Energy		6,615			274,919
Total					12,506,427
Paper & Forest Products (0.3%)
Intl Paper		7,538			168,173
MeadWestvaco		4,080			93,146
Weyerhaeuser		1,695			61,596
Total					322,915
Personal Products (0.2%)
Avon Products		6,854			219,670
Estee Lauder Companies Cl A		1,113			47,303
Total					266,973
Pharmaceuticals (6.5%)
Abbott Laboratories		19,351			978,580
Allergan		4,398			247,388
Bristol-Myers Squibb		26,185			570,833
Eli Lilly & Co		12,120			412,201
Forest Laboratories		2,370	(b)		65,578
Johnson & Johnson		35,230			2,080,332
King Pharmaceuticals		7,374	(b)		74,699
Merck & Co		28,524			882,247
Mylan		6,289	(b,e)		102,133
Pfizer		108,579			1,849,100
Schering-Plough		22,629			638,138
Watson Pharmaceuticals		2,551	(b,e)		87,805
Total					7,989,034
Professional Services (0.1%)
Dun & Bradstreet		378			28,940
Equifax		910			24,916
Monster Worldwide		929	(b,e)		13,489
Robert Half Intl		3,268	(e)		75,817
Total					143,162
Real Estate Investment Trusts (REITs) (1.0%)
Apartment Investment & Management Cl A		3,730	(e)		46,066
AvalonBay Communities		663	(e)		45,601
Boston Properties		1,419	(e)		86,233
Equity Residential		2,083	(e)		60,157
HCP		2,714	(e)		80,307

Issuer	Shares			Value(a)
Health Care REIT		979	(e)		43,438
Host Hotels & Resorts		6,287	(e)		63,562
Kimco Realty		7,979	(e)		100,855
Plum Creek Timber		2,892	(e)		90,491
ProLogis		9,418	(e)		106,706
Public Storage		1,257			92,515
Simon Property Group		3,289	(e)		223,289
Ventas		1,811	(e)		72,675
Vornado Realty Trust		1,985	(e)		118,227
Total					1,230,122
Real Estate Management & Development (0.1%)
CB Richard Ellis Group Cl A		7,151	(b)		74,013
Road & Rail (0.9%)
Burlington Northern Santa Fe		2,857			215,189
CSX		6,092			256,961
Norfolk Southern		5,538			258,182
Ryder System		1,690	(e)		68,530
Union Pacific		5,827			321,300
Total					1,120,162
Semiconductors & Semiconductor Equipment (2.6%)
Advanced Micro Devices		9,100	(b,e)		41,860
Altera		2,227	(e)		44,072
Analog Devices		4,029			103,263
Applied Materials		14,195			173,179
Broadcom Cl A		7,037	(b)		187,255
Intel		71,086			1,358,454
KLA-Tencor		2,577	(e)		83,778
Linear Technology		1,613	(e)		41,744
LSI		15,445	(b)		79,078
MEMC Electronic Materials		5,651	(b)		70,185
Microchip Technology		1,361	(e)		32,610
Micron Technology		16,648	(b,e)		113,040
Natl Semiconductor		6,164	(e)		79,762
Novellus Systems		709	(b)		14,591
NVIDIA		10,275	(b,e)		122,889
Teradyne		6,396	(b,e)		53,535
Texas Instruments		18,074			423,836
Xilinx		2,065			44,914
Total					3,068,045
Software (4.2%)
Adobe Systems		6,198	(b)		204,162
Autodesk		1,736	(b)		43,278
BMC Software		2,698	(b)		100,258
CA		3,202			66,986
Citrix Systems		1,483	(b)		54,515
Compuware		3,123	(b)		22,048
Electronic Arts		2,928	(b)		53,407
Intuit		5,582	(b)		162,269
McAfee		3,021	(b)		126,519
Microsoft		99,356			2,755,143
Novell		2,575	(b)		10,532
Oracle		48,594			1,025,333
Red Hat		3,877	(b)		100,065
Salesforce.com		2,125	(b,e)		120,594
Symantec		8,407	(b)		147,795
Total					4,992,904

Issuer	Shares			Value(a)
Specialty Retail (1.9%)
Abercrombie & Fitch Cl A		2,333	(e)		76,569
AutoNation		3,317	(b,e)		57,185
AutoZone		586	(b,e)		79,292
Bed Bath & Beyond		2,372	(b)		83,518
Best Buy		3,472			132,561
GameStop Cl A		1,436	(b,e)		34,880
Gap		8,052			171,830
Home Depot		20,827			522,548
Limited Brands		5,803			102,133
Lowe’s Companies		17,667			345,743
Office Depot		10,270	(b)		62,134
O’Reilly Automotive		2,760	(b,e)		102,893
RadioShack		3,956			66,817
Sherwin-Williams		1,290	(e)		73,582
Staples		7,479			162,294
Tiffany & Co		934	(e)		36,697
TJX Companies		4,514			168,598
Total					2,279,274
Textiles, Apparel & Luxury Goods (0.5%)
Coach		5,357			176,620
Nike Cl B		4,427			275,271
Polo Ralph Lauren		422	(e)		31,405
VF		1,240			88,090
Total					571,386
Thrifts & Mortgage Finance (0.1%)
Hudson City Bancorp		3,423			44,978
People’s United Financial		5,159	(e)		82,699
Total					127,677
Tobacco (1.6%)
Altria Group		29,114			527,255
Lorillard		1,598			124,197
Philip Morris Intl		24,659			1,167,849
Reynolds American		3,020	(e)		146,410
Total					1,965,711
Trading Companies & Distributors (0.1%)
Fastenal		982	(e)		33,879
WW Grainger		464	(e)		43,491
Total					77,370
Wireless Telecommunication Services (0.3%)
American Tower Cl A		4,215	(b)		155,196
MetroPCS Communications		2,482	(b,e)		15,463
Sprint Nextel		50,969	(b)		150,868
Total					321,527
Total Common Stocks (Cost: $125,828,861)				$	119,623,511

Money Market Fund (0.1%)

	Shares			Value(a)
RiverSource Short-Term Cash Fund, 0.25%		125,176	(g)	$	125,176
Total Money Market Fund (Cost: $125,176)				$	125,176
Investments of Cash Collateral Received for Securities on Loan (9.2%)

	Shares		Value(a)
Cash Collateral Reinvestment Fund
JPMorgan Prime Money Market Fund		11,012,489	$	11,012,489
Total Investments of Cash Collateral Received for Securities on Loan (Cost: $11,012,489)			$	11,012,489
Total Investments in Securities (Cost: $136,966,526)(h)			$	130,761,176

Investments in Derivatives

Futures Contracts Outstanding at Oct. 31, 2009

	Number of					Unrealized
	contracts		Notional		Expiration	appreciation
Contract description	long (short)		market value		date	(depreciation)
E-Mini S&P 500 Index		10	$	516,500	Dec. 2009	$	(21,500	)

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 July 31, 2009.
(b)	Non-income producing.
(c)	Foreign security values are stated in U.S. dollars. At Oct. 31, 2009, the value of foreign securities, excluding short-term securities, represented 0.2% of net assets.
(d)	Represents fractional shares.
(e)	At Oct. 31, 2009, security was partially or fully on loan.
(f)	At Oct. 31, 2009, investments in securities included securities valued at $68,664 that were partially pledged as collateral to cover initial margin deposits on open stock index futures contracts.
(g)	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 Oct. 31, 2009.
(h)	At Oct. 31, 2009, the cost of securities for federal income tax purposes was approximately $136,967,000 and the approximate aggregate gross unrealized appreciation and depreciation based on that cost was:

Unrealized appreciation	$	13,672,000
Unrealized depreciation		(19,878,000	)
Net unrealized depreciation	$	(6,206,000	)

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

Generally accepted accounting principles (GAAP) require 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.

The Fund categorizes its fair value measurements according to a three-level hierarchy 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. 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 2 to the financial statements — Valuation of securities in the most recent Semiannual Report dated July 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 Oct. 31, 2009:

	Fair value at Oct. 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)	$	119,623,511		$	—	$	—	$	119,623,511
Total Equity Securities		119,623,511			—		—		119,623,511
Other
Affiliated Money Market Fund (b)		125,176			—		—		125,176
Investments of Cash Collateral Received for Securities on Loan		11,012,489			—		—		11,012,489
Total Other		11,137,665			—		—		11,137,665
Investments in Securities		130,761,176			—		—		130,761,176
Other Financial Instruments (c)		(21,500	)		—		—		(21,500	)
Total	$	130,739,676		$	—	$	—	$	130,739,676

(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 Oct. 31, 2009.
(c)	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.

Portfolio of Investments
RiverSource Small Company Index Fund
Oct. 31, 2009 (Unaudited)

(Percentages represent value of investments compared to net assets)

Investments in Securities

Common Stocks (99.2%)

Issuer	Shares			Value(a)
Aerospace & Defense (2.9%)
AAR		45,643	(b,d)	$	895,059
AeroVironment		10,509	(b)		280,170
American Science & Engineering		7,444			492,197
Applied Signal Technology		8,307			170,210
Ceradyne		33,387	(b)		538,198
Cubic		19,096			662,822
Curtiss-Wright		47,275	(d)		1,409,742
Esterline Technologies		30,629	(b)		1,289,787
GenCorp		61,717	(b,d)		459,174
Moog Cl A		46,074	(b,d)		1,150,468
Orbital Sciences		57,848	(b)		745,082
Stanley		17,380	(b,d)		490,985
Teledyne Technologies		38,688	(b)		1,321,583
Triumph Group		19,377	(d)		907,037
Total					10,812,514
Air Freight & Logistics (0.4%)
Forward Air		23,676	(d)		505,246
Hub Group Cl A		33,500	(b,d)		832,810
Total					1,338,056
Airlines (0.2%)
SkyWest		65,054			908,804
Auto Components (0.3%)
Drew Inds		12,240	(b,d)		234,274
Spartan Motors		57,065			284,754
Standard Motor Products		32,670			273,121
Superior Inds Intl		20,972			278,508
Total					1,070,657
Automobiles (0.1%)
Winnebago Inds		20,087	(b,d)		231,001
Beverages (0.1%)
Boston Beer Cl A		8,213	(b)		312,094
Biotechnology (0.9%)
ArQule		19,962	(b)		66,873
Cubist Pharmaceuticals		65,215	(b)		1,104,742
Martek Biosciences		32,532	(b,d)		584,275
Regeneron Pharmaceuticals		57,660	(b,d)		905,262
Savient Pharmaceuticals		55,635	(b,d)		701,001
Total					3,362,153

Issuer	Shares			Value(a)
Building Products (1.0%)
Aaon		19,709	(d)		354,959
Apogee Enterprises		37,271	(d)		493,468
Gibraltar Inds		21,660			234,361
Griffon		57,422	(b)		503,591
NCI Building Systems		66,439	(b)		130,220
Quanex Building Products		30,720			456,806
Simpson Mfg		35,939	(d)		840,614
Universal Forest Products		17,904	(d)		638,815
Total					3,652,834
Capital Markets (1.8%)
Greenhill & Co		19,255			1,660,359
Investment Technology Group		51,479	(b)		1,110,402
LaBranche & Co		39,615	(b)		109,337
optionsXpress Holdings		52,364			818,449
Piper Jaffray Companies		14,357	(b)		666,021
Stifel Financial		29,100	(b,d)		1,512,036
SWS Group		34,792			465,517
TradeStation Group		49,430	(b,d)		381,600
Total					6,723,721
Chemicals (1.9%)
A. Schulman		29,645			514,934
American Vanguard		28,805	(d)		239,082
Arch Chemicals		28,227	(d)		781,606
Balchem		14,390	(d)		397,020
Calgon Carbon		44,331	(b,d)		702,203
HB Fuller		48,036			917,968
NewMarket		11,982			1,120,316
OM Group		35,879	(b)		969,451
Penford		7,211	(d)		42,545
PolyOne		86,749	(b)		484,059
Quaker Chemical		7,214			148,608
Stepan		9,913			567,420
Zep		15,316	(d)		261,904
Total					7,147,116
Commercial Banks (5.7%)
Bank of the Ozarks		18,538	(d)		421,740
Boston Private Financial Holdings		70,783	(d)		421,159
Central Pacific Financial		32,585	(d)		45,945
Columbia Banking System		36,086	(d)		530,464
Community Bank System		39,307	(d)		731,503
East West Bancorp		87,287	(d)		788,202
First BanCorp		86,056	(c,d)		162,646
First Commonwealth Financial		80,159			420,835
First Financial Bancorp		36,145	(d)		458,319
First Financial Bankshares		23,698	(d)		1,148,168
First Midwest Bancorp		40,293	(d)		419,047
Glacier Bancorp		67,905	(d)		888,876
Hancock Holding		24,590			891,879
Hanmi Financial		35,982	(b,d)		55,052
Home BancShares		15,080	(d)		326,180
Independent Bank MA		18,975	(d)		403,598
Independent Bank MI		21,672	(d)		25,573
Nara Bancorp		19,137	(d)		140,848
Natl Penn Bancshares		106,308			597,451
NBT Bancorp		31,260	(d)		681,468

Issuer	Shares			Value(a)
Old Natl Bancorp		77,341	(d)		802,026
Pinnacle Financial Partners		26,518	(b,d)		336,779
PrivateBancorp		40,747			372,020
Prosperity Bancshares		49,923			1,786,745
S&T Bancorp		26,610	(d)		419,108
Signature Bank		42,671	(b)		1,346,697
Simmons First Natl Cl A		17,474			511,289
South Financial Group		111,905			89,524
Sterling Bancorp		12,171	(d)		81,911
Sterling Bancshares		83,062	(d)		462,655
Sterling Financial		67,744	(b,d)		54,195
Susquehanna Bancshares		69,106	(d)		380,774
Tompkins Financial		6,689	(d)		290,102
UCBH Holdings		134,316	(d)		131,630
UMB Financial		34,154			1,358,306
Umpqua Holdings		77,478	(d)		767,807
United Bankshares		40,051	(d)		714,910
United Community Banks		54,704	(b)		222,098
Whitney Holding		80,611	(d)		647,306
Wilshire Bancorp		37,054	(d)		260,860
Wintrust Financial		28,983	(d)		817,610
Total					21,413,305
Commercial Services & Supplies (2.4%)
ABM Inds		42,773	(d)		803,277
ATC Technology		26,055	(b)		544,550
Bowne & Co		25,714			167,912
Consolidated Graphics		17,077	(b,d)		342,565
G&K Services Cl A		23,680			524,512
GEO Group		46,610	(b)		985,802
Healthcare Services Group		37,299	(d)		736,655
Interface Cl A		37,221	(d)		288,835
Mobile Mini		28,403	(b,d)		411,844
Standard Register		13,108	(d)		62,525
Sykes Enterprises		40,412	(b)		959,381
Tetra Tech		59,024	(b)		1,518,687
United Stationers		25,043	(b)		1,180,526
Viad		27,161			475,318
Total					9,002,389
Communications Equipment (2.1%)
ARRIS Group		135,621	(b,d)		1,391,472
Bel Fuse Cl B		7,741	(d)		140,112
Black Box		20,651			547,458
Blue Coat Systems		35,862	(b,d)		799,005
Comtech Telecommunications		29,085	(b,d)		934,210
Digi Intl		38,107	(b,d)		302,951
EMS Technologies		17,220	(b,d)		300,145
Harmonic		98,417	(b,d)		516,689
NETGEAR		41,558	(b,d)		757,602
Network Equipment Technologies		27,236	(b,d)		89,879
PC-Tel		17,000	(b,d)		99,620
Symmetricom		34,533	(b)		165,413
Tekelec		68,853	(b)		1,034,172
Tollgrade Communications		19,860	(b)		118,167
ViaSat		28,354	(b,d)		826,519
Total					8,023,414

Issuer	Shares			Value(a)
Computers & Peripherals (0.8%)
Adaptec		95,104	(b,d)		303,382
Avid Technology		20,059	(b,d)		253,345
Hutchinson Technology		15,302	(b,d)		89,058
Intermec		44,273	(b,d)		545,443
Intevac		24,988	(b,d)		254,878
Novatel Wireless		56,108	(b,d)		500,483
Stratasys		13,545	(b,d)		213,740
Synaptics		32,506	(b,d)		731,385
Total					2,891,714
Construction & Engineering (0.8%)
Comfort Systems USA		51,893			565,634
EMCOR Group		72,118	(b)		1,703,427
Insituform Technologies Cl A		33,157	(b)		702,928
Total					2,971,989
Construction Materials (0.5%)
Eagle Materials		39,220	(d)		974,617
Headwaters		32,889	(b)		135,503
Texas Inds		25,384			845,033
Total					1,955,153
Consumer Finance (0.8%)
Cash America Intl		32,911	(d)		995,887
EZCORP Cl A		58,851	(b)		763,297
First Cash Financial Services		26,011	(b,d)		446,869
Rewards Network		14,550			156,558
World Acceptance		21,101	(b,d)		529,424
Total					2,892,035
Containers & Packaging (0.5%)
Myers Inds		18,313			160,605
Rock-Tenn Cl A		42,277	(d)		1,851,733
Total					2,012,338
Distributors (—%)
Audiovox Cl A		12,598	(b)		81,383
Diversified Consumer Services (1.2%)
American Public Education		14,222	(b,d)		453,682
Capella Education		12,959	(b,d)		892,875
Coinstar		31,076	(b,d)		986,352
Hillenbrand		69,169			1,381,997
Pre-Paid Legal Services		10,374	(b)		410,188
Universal Technical Institute		14,102	(b,d)		253,695
Total					4,378,789
Diversified Financial Services (0.3%)
Financial Federal		24,236	(d)		494,899
Portfolio Recovery Associates		14,238	(b,d)		656,941
Total					1,151,840
Diversified Telecommunication Services (0.4%)
Cbeyond		34,184	(b,d)		456,356
General Communication Cl A		27,823	(b,d)		171,111
Iowa Telecommunications Services		21,978	(d)		258,681

Issuer	Shares			Value(a)
Neutral Tandem		29,219	(b,d)		616,230
Total					1,502,378
Electric Utilities (1.1%)
Allete		27,426	(d)		928,370
Central Vermont Public Service		17,728			343,746
El Paso Electric		51,745	(b)		970,219
UIL Holdings		34,809			893,895
Unisource Energy		31,778			917,749
Total					4,053,979
Electrical Equipment (2.5%)
Acuity Brands		43,206	(d)		1,367,901
AO Smith		20,617			817,052
AZZ		16,241	(b,d)		556,417
Baldor Electric		39,802	(d)		1,028,882
Belden		50,127			1,150,415
Brady Cl A		49,493			1,340,269
C&D Technologies		16,650	(b)		30,470
Encore Wire		24,866			515,970
II-VI		20,559	(b,d)		544,197
Magnetek		68,466	(b,d)		85,583
Regal-Beloit		37,527	(d)		1,759,265
Vicor		13,716	(b)		93,543
Total					9,289,964
Electronic Equipment, Instruments & Components (3.5%)
Agilysys		14,829	(d)		69,845
Anixter Intl		32,920	(b,d)		1,377,701
Benchmark Electronics		72,024	(b)		1,210,002
Brightpoint		80,052	(b)		589,983
Checkpoint Systems		31,480	(b)		427,184
Cognex		33,190			534,027
CTS		49,346			442,140
Daktronics		50,849	(d)		382,384
DTS		13,221	(b,d)		373,493
Electro Scientific Inds		31,971	(b,d)		349,763
FARO Technologies		9,456	(b)		146,190
Gerber Scientific		47,211	(b)		218,115
Insight Enterprises		58,846	(b)		619,060
Keithley Instruments		9,626			31,381
Littelfuse		17,716	(b)		488,253
LoJack		35,916	(b)		151,566
Mercury Computer Systems		34,598	(b)		370,199
Methode Electronics		55,930			405,493
MTS Systems		21,682			574,573
Newport		23,166	(b,d)		172,355
Park Electrochemical		15,606			350,823
Plexus		45,197	(b)		1,143,484
RadiSys		30,733	(b)		261,538
Rogers		11,337	(b,d)		294,195
ScanSource		22,589	(b,d)		573,535
SYNNEX		24,885	(b,d)		640,291
Technitrol		26,134			203,584
TTM Technologies		52,589	(b)		534,830
Total					12,935,987

Issuer	Shares			Value(a)
Energy Equipment & Services (3.8%)
Atwood Oceanics		60,085	(b,d)		2,132,417
Basic Energy Services		24,671	(b)		172,697
Bristow Group		32,646	(b,d)		951,631
CARBO Ceramics		17,241			1,006,702
Dril-Quip		28,665	(b,d)		1,392,832
Gulf Island Fabrication		16,195	(d)		309,648
Hornbeck Offshore Services		24,988	(b,d)		607,458
ION Geophysical		115,529	(b,d)		442,476
Lufkin Inds		16,850	(d)		961,293
Matrix Service		31,678	(b)		280,984
NATCO Group Cl A		17,613	(b)		769,336
Oil States Intl		55,712	(b,d)		1,918,721
Pioneer Drilling		35,335	(b)		236,391
SEACOR Holdings		22,066	(b)		1,793,304
Seahawk Drilling		13,620	(b)		367,740
Superior Well Services		11,777	(b,d)		124,954
TETRA Technologies		85,104	(b)		805,084
Total					14,273,668
Food & Staples Retailing (1.2%)
Andersons		22,505			698,330
Casey’s General Stores		54,221			1,709,588
Great Atlantic & Pacific Tea		17,639	(b)		174,802
Nash Finch		13,150	(d)		381,087
Spartan Stores		30,657	(d)		434,103
United Natural Foods		41,014	(b,d)		988,848
Total					4,386,758
Food Products (2.0%)
Cal-Maine Foods		17,117	(d)		464,727
Darling Intl		100,696	(b)		699,837
Diamond Foods		12,885	(d)		388,483
Green Mountain Coffee Roasters		33,237	(b,d)		2,211,923
Hain Celestial Group		37,762	(b,d)		662,345
J&J Snack Foods		17,718			694,014
Lance		30,378	(d)		732,717
Sanderson Farms		18,163	(d)		664,584
TreeHouse Foods		29,110	(b,d)		1,088,714
Total					7,607,344
Gas Utilities (2.0%)
Laclede Group		26,838			824,195
New Jersey Resources		46,013	(d)		1,619,658
Northwest Natural Gas		27,326	(d)		1,142,500
Piedmont Natural Gas		79,414	(d)		1,848,758
South Jersey Inds		29,976	(d)		1,057,853
Southwest Gas		41,953			1,048,405
Total					7,541,369
Health Care Equipment & Supplies (3.8%)
Abaxis		16,808	(b,d)		383,559
Align Technology		59,681	(b)		938,185
American Medical Systems Holdings		74,508	(b)		1,148,913
Analogic		12,957			483,814
Conmed		30,095	(b,d)		637,713
Cooper Companies		50,070			1,402,460
CryoLife		31,921	(b,d)		191,526
Cyberonics		15,243	(b,d)		220,414

Issuer	Shares			Value(a)
Greatbatch		29,209	(b,d)		574,541
Haemonetics		28,076	(b)		1,445,913
ICU Medical		16,205	(b,d)		567,175
Integra LifeSciences Holdings		19,146	(b)		584,719
Invacare		38,356	(d)		860,325
Kensey Nash		11,772	(b,d)		281,469
Meridian Bioscience		35,457	(d)		786,791
Merit Medical Systems		24,986	(b)		424,262
Natus Medical		20,103	(b,d)		279,231
Neogen		11,008	(b,d)		348,954
Osteotech		20,330	(b)		87,826
Palomar Medical Technologies		17,017	(b,d)		172,893
SurModics		12,783	(b,d)		327,373
Symmetry Medical		28,432	(b)		226,603
Theragenics		55,061	(b)		74,332
West Pharmaceutical Services		33,196	(d)		1,310,246
ZOLL Medical		23,890	(b)		463,944
Total					14,223,181
Health Care Providers & Services (5.7%)
Air Methods		12,120	(b,d)		370,145
Almost Family		4,591	(b)		139,337
Amedisys		29,413	(b,d)		1,170,343
AMERIGROUP		59,155	(b,d)		1,304,367
AMN Healthcare Services		51,919	(b)		431,966
AmSurg		29,452	(b,d)		620,554
Bio-Reference Laboratories		8,533	(b,d)		275,872
Catalyst Health Solutions		35,298	(b,d)		1,107,298
Centene		51,120	(b)		911,470
Chemed		23,144			1,048,886
CorVel		4,810	(b)		137,085
Cross Country Healthcare		20,735	(b)		171,271
Genoptix		13,540	(b,d)		471,057
Gentiva Health Services		34,434	(b,d)		826,416
Hanger Orthopedic Group		35,876	(b)		496,524
HealthSpring		57,184	(b)		819,447
Healthways		41,633	(b,d)		669,459
HMS Holdings		21,633	(b,d)		928,705
inVentiv Health		27,509	(b)		467,103
IPC The Hospitalist		9,297	(b,d)		281,699
Landauer		7,376			382,003
LCA-Vision		47,958	(b,d)		215,811
LHC Group		16,730	(b,d)		466,934
Magellan Health Services		37,054	(b)		1,190,545
MedCath		34,190	(b,d)		280,700
MEDNAX		47,921	(b)		2,488,057
Molina Healthcare		19,499	(b,d)		365,021
MWI Veterinary Supply		9,062	(b,d)		320,795
Odyssey HealthCare		33,470	(b)		466,572
PharMerica		27,767	(b,d)		428,445
PSS World Medical		60,126	(b,d)		1,215,748
RehabCare Group		24,906	(b)		466,988
ResCare		35,847	(b)		431,239
Total					21,367,862
Health Care Technology (0.8%)
Computer Programs & Systems		7,063			298,341
Eclipsys		58,519	(b,d)		1,097,232

Issuer	Shares			Value(a)
Omnicell		25,086	(b)		246,846
Phase Forward		33,173	(b)		434,898
Quality Systems		16,715			1,019,949
Total					3,097,266
Hotels, Restaurants & Leisure (2.9%)
BJ’s Restaurants		27,715	(b,d)		442,331
Buffalo Wild Wings		15,420	(b,d)		632,374
California Pizza Kitchen		32,719	(b,d)		425,020
CEC Entertainment		24,916	(b,d)		727,796
CKE Restaurants		61,985			542,369
Cracker Barrel Old Country Store		25,400			842,010
DineEquity		9,548	(d)		202,036
Interval Leisure Group		51,326	(b,d)		572,798
Jack in the Box		63,711	(b,d)		1,195,219
Landry’s Restaurants		14,099	(b)		153,679
Marcus		13,714	(d)		160,454
Monarch Casino & Resort		7,370	(b,d)		51,148
Multimedia Games		18,101	(b)		88,876
O’Charley’s		11,379	(b,d)		79,767
Papa John’s Intl		21,068	(b)		474,030
Peet’s Coffee & Tea		11,018	(b)		374,612
PF Chang’s China Bistro		26,990	(b,d)		787,838
Pinnacle Entertainment		49,475	(b)		418,064
Red Robin Gourmet Burgers		22,764	(b,d)		380,386
Ruby Tuesday		82,381	(b,d)		548,657
Ruth’s Hospitality Group		13,058	(b,d)		40,610
Shuffle Master		38,475	(b,d)		300,490
SONIC		54,731	(b,d)		511,735
Steak n Shake		15,248	(b,d)		177,639
Texas Roadhouse		64,937	(b)		614,953
Total					10,744,891
Household Durables (0.8%)
Ethan Allen Interiors		21,864	(d)		272,425
Helen of Troy		26,409	(b,c)		603,181
Kid Brands		12,126	(b)		60,266
La-Z-Boy		39,185			278,214
M/I Homes		12,670	(b)		141,524
Meritage Homes		29,014	(b)		529,215
Natl Presto Inds		6,213	(d)		540,096
Skyline		4,097	(d)		71,657
Standard Pacific		56,343	(b)		169,029
Universal Electronics		18,948	(b,d)		390,329
Total					3,055,936
Household Products (0.3%)
Central Garden & Pet Cl A		83,882	(b)		793,524
WD-40		13,159	(d)		414,377
Total					1,207,901
Industrial Conglomerates (0.2%)
Standex Intl		18,887			332,034
Tredegar		21,924			298,824
Total					630,858
Insurance (3.1%)
American Physicians Capital		14,527			410,823

Issuer	Shares			Value(a)
Amerisafe		25,603	(b,d)		474,680
Delphi Financial Group Cl A		53,267			1,155,894
eHealth		16,261	(b,d)		231,394
Employers Holdings		53,668	(d)		795,360
Infinity Property & Casualty		10,821			418,448
Natl Financial Partners		59,118	(b)		481,812
Navigators Group		12,618	(b,d)		669,637
Presidential Life		12,846	(d)		119,853
ProAssurance		35,738	(b)		1,796,906
RLI		18,938	(d)		946,900
Safety Insurance Group		19,466			651,527
Selective Insurance Group		61,922			948,645
Stewart Information Services		9,166	(d)		81,944
Tower Group		36,419			895,179
United Fire & Casualty		16,141			282,145
Zenith Natl Insurance		40,534	(d)		1,156,435
Total					11,517,582
Internet & Catalog Retail (0.8%)
Blue Nile		12,677	(b)		761,254
HSN		32,250	(b,d)		481,815
NutriSystem		37,223	(d)		801,038
PetMed Express		22,537	(d)		353,606
Stamps.com		8,880	(b,d)		89,155
Ticketmaster Entertainment		51,383	(b)		495,846
Total					2,982,714
Internet Software & Services (0.9%)
comScore		17,433	(b,d)		267,248
DealerTrack Holdings		34,418	(b,d)		567,209
Infospace		23,098	(b)		197,950
j2 Global Communications		51,719	(b,d)		1,057,654
Knot		18,526	(b,d)		197,672
Perficient		27,667	(b,d)		225,209
United Online		102,006	(d)		816,048
Total					3,328,990
IT Services (1.9%)
CACI Intl Cl A		29,889	(b)		1,423,314
Ciber		106,348	(b)		342,441
CSG Systems Intl		43,091	(b)		704,107
CyberSource		63,023	(b,d)		1,032,317
Forrester Research		10,424	(b)		264,040
Heartland Payment Systems		47,490	(d)		583,652
Integral Systems		32,491	(b,d)		272,924
MAXIMUS		14,994			693,622
StarTek		27,092	(b)		157,134
TeleTech Holdings		33,782	(b)		604,360
Wright Express		43,012	(b,d)		1,200,465
Total					7,278,376
Leisure Equipment & Products (1.2%)
Arctic Cat		30,968			183,950
Brunswick		76,031	(d)		720,774
JAKKS Pacific		36,827	(b,d)		524,048
Nautilus		21,887	(b)		39,178
Polaris Inds		36,039	(d)		1,516,160
Pool		42,099	(d)		824,298

Issuer	Shares			Value(a)
RC2		19,560	(b)		255,454
Sturm, Ruger & Co		28,045	(d)		297,838
Total					4,361,700
Life Sciences Tools & Services (0.8%)
Cambrex		52,636	(b,d)		315,816
Dionex		15,643	(b,d)		1,061,847
Enzo Biochem		22,121	(b)		121,887
eResearchTechnology		25,648	(b,d)		189,795
Kendle Intl		22,214	(b)		374,972
PAREXEL Intl		62,714	(b,d)		785,179
Total					2,849,496
Machinery (4.2%)
Actuant Cl A		63,757	(d)		995,247
Albany Intl Cl A		35,448			590,564
Astec Inds		22,363	(b,d)		514,349
Badger Meter		11,532	(d)		429,798
Barnes Group		37,831	(d)		599,621
Briggs & Stratton		57,185	(d)		1,069,360
Cascade		5,828	(d)		144,768
CIRCOR Intl		17,373			473,414
Clarcor		47,665	(d)		1,402,781
EnPro Inds		26,166	(b,d)		590,828
ESCO Technologies		23,623	(b,d)		927,911
Gardner Denver		53,151	(b)		1,908,652
John Bean Technologies		36,177			594,026
Kaydon		28,240	(d)		988,118
Lindsay		9,792			321,471
Lydall		36,713	(b)		183,565
Mueller Inds		43,700			1,033,942
Robbins & Myers		38,622	(d)		896,030
Toro		35,029	(d)		1,296,774
Watts Water Technologies Cl A		26,202	(d)		740,207
Total					15,701,426
Media (0.3%)
Arbitron		20,351	(d)		441,210
EW Scripps Cl A		50,222	(b,d)		319,412
Live Nation		66,173	(b,d)		440,712
Total					1,201,334
Metals & Mining (0.7%)
AM Castle & Co		18,439	(d)		207,808
AMCOL Intl		20,998	(d)		546,788
Brush Engineered Materials		17,863	(b,d)		329,572
Century Aluminum		62,766	(b,d)		544,181
Olympic Steel		13,708	(d)		346,812
RTI Intl Metals		36,289	(b,d)		751,546
Total					2,726,707
Multiline Retail (0.2%)
Fred’s Cl A		45,335			536,767
Tuesday Morning		63,680	(b)		205,686
Total					742,453

Issuer	Shares			Value(a)
Multi-Utilities (0.5%)
Avista		60,777			1,152,332
CH Energy Group		13,284	(d)		550,090
Total					1,702,422
Oil, Gas & Consumable Fuels (2.2%)
Holly		47,164	(d)		1,368,228
Penn Virginia		40,642			823,001
Petroleum Development		27,083	(b)		452,286
PetroQuest Energy		36,221	(b,d)		222,035
St. Mary Land & Exploration		65,846	(d)		2,245,348
Stone Energy		50,306	(b,d)		771,191
Swift Energy		43,921	(b)		930,247
World Fuel Services		29,309	(d)		1,490,362
Total					8,302,698
Paper & Forest Products (0.8%)
Buckeye Technologies		51,480	(b)		461,261
Clearwater Paper		14,212	(b)		643,377
Deltic Timber		8,710	(d)		370,175
Neenah Paper		8,952	(d)		92,653
Schweitzer-Mauduit Intl		13,568			700,787
Wausau Paper		63,963			560,956
Total					2,829,209
Personal Products (0.3%)
Chattem		17,318	(b,d)		1,097,442
Mannatech		12,800	(d)		43,520
Total					1,140,962
Pharmaceuticals (0.6%)
Par Pharmaceutical Companies		41,127	(b)		862,433
Salix Pharmaceuticals		42,593	(b)		783,285
ViroPharma		91,070	(b)		686,668
Total					2,332,386
Professional Services (0.9%)
Administaff		27,644	(d)		686,124
CDI		22,973			279,811
Exponent		9,095	(b,d)		236,561
Heidrick & Struggles Intl		21,966	(d)		600,990
On Assignment		31,358	(b)		189,402
School Specialty		11,103	(b)		247,042
Spherion		75,781	(b)		375,116
TrueBlue		54,225	(b)		656,123
Volt Information Sciences		17,540	(b,d)		142,249
Total					3,413,418
Real Estate Investment Trusts (REITs) (6.7%)
Acadia Realty Trust		36,804			585,184
BioMed Realty Trust		89,092	(d)		1,208,978
Cedar Shopping Centers		50,470	(d)		306,353
Colonial Properties Trust		57,283			603,190
DiamondRock Hospitality		113,079	(b,d)		860,531
EastGroup Properties		28,669	(d)		1,055,306
Entertainment Properties Trust		39,331	(d)		1,338,041
Extra Space Storage		96,990	(d)		928,194
Franklin Street Properties		60,081			647,673

Issuer	Shares			Value(a)
Healthcare Realty Trust		63,500	(d)		1,322,705
Home Properties		34,307	(d)		1,344,148
Inland Real Estate		65,470	(d)		561,733
Kilroy Realty		42,858	(d)		1,183,738
Kite Realty Group Trust		43,113	(d)		159,949
LaSalle Hotel Properties		68,850	(d)		1,181,466
Lexington Realty Trust		122,203			512,031
LTC Properties		29,002	(d)		688,798
Medical Properties Trust		68,191			545,528
Mid-America Apartment Communities		25,795	(d)		1,130,337
Natl Retail Properties		81,263	(d)		1,574,877
Parkway Properties		23,445	(d)		413,804
Pennsylvania Real Estate Investment Trust		31,366	(d)		229,913
Post Properties		50,125	(d)		826,561
PS Business Parks		16,508	(d)		808,397
Senior Housing Properties Trust		122,888	(d)		2,369,280
Sovran Self Storage		23,390	(d)		704,039
Tanger Factory Outlet Centers		39,488			1,503,308
Urstadt Biddle Properties Cl A		29,324	(d)		433,115
Total					25,027,177
Real Estate Management & Development (0.1%)
Forestar Group		29,617	(b,d)		437,147
Road & Rail (0.8%)
Arkansas Best		29,829	(d)		770,185
Heartland Express		44,973	(d)		611,633
Knight Transportation		51,084	(d)		819,387
Old Dominion Freight Line		26,317	(b,d)		683,979
Total					2,885,184
Semiconductors & Semiconductor Equipment (4.8%)
Actel		18,419	(b,d)		219,554
Advanced Energy Inds		27,840	(b,d)		339,926
ATMI		25,429	(b)		385,249
Brooks Automation		72,115	(b)		496,151
Cabot Microelectronics		22,710	(b,d)		726,266
Cohu		15,524	(d)		176,663
Cymer		34,060	(b)		1,166,214
Cypress Semiconductor		171,862	(b,d)		1,448,797
Diodes		40,097	(b)		656,789
DSP Group		20,451	(b)		118,207
Exar		30,115	(b,d)		207,794
FEI		36,720	(b,d)		874,303
Hittite Microwave		21,760	(b,d)		800,768
Kopin		86,916	(b,d)		385,907
Kulicke & Soffa Inds		94,819	(b,d)		440,908
Micrel		33,676			251,560
Microsemi		90,009	(b)		1,198,020
MKS Instruments		46,898	(b,d)		733,485
Pericom Semiconductor		17,819	(b,d)		167,677
Rudolph Technologies		34,225	(b)		216,987
Sigma Designs		37,290	(b)		447,853
Skyworks Solutions		176,139	(b)		1,837,130
Standard Microsystems		21,280	(b)		409,853
Supertex		11,873	(b,d)		287,920
TriQuint Semiconductor		126,645	(b,d)		682,617
Ultratech		18,608	(b,d)		240,415

Issuer	Shares			Value(a)
Varian Semiconductor Equipment Associates		73,566	(b,d)		2,088,538
Veeco Instruments		32,004	(b)		779,297
Total					17,784,848
Software (2.9%)
Blackbaud		39,998	(d)		887,556
CommVault Systems		35,617	(b,d)		701,655
Concur Technologies		41,246	(b,d)		1,470,007
Ebix		7,427	(b)		457,503
Epicor Software		63,797	(b)		492,513
EPIQ Systems		23,367	(b,d)		294,658
JDA Software Group		31,020	(b)		615,437
Manhattan Associates		22,355	(b,d)		513,047
NetScout Systems		36,104	(b,d)		443,718
Phoenix Technologies		26,857	(b,d)		62,845
Progress Software		45,671	(b)		1,055,000
Radiant Systems		31,275	(b)		307,746
Smith Micro Software		32,087	(b,d)		291,350
Sonic Solutions		24,813	(b,d)		120,591
Take-Two Interactive Software		94,973	(b,d)		1,041,854
Taleo Cl A		25,882	(b)		562,675
THQ		43,559	(b,d)		227,814
Tyler Technologies		21,891	(b,d)		416,367
Websense		51,050	(b)		819,863
Total					10,782,199
Specialty Retail (4.7%)
Big 5 Sporting Goods		26,924	(d)		397,129
Brown Shoe		54,980	(d)		570,143
Buckle		22,718	(d)		681,767
Cabela’s		34,014	(b,d)		427,556
Cato Cl A		26,893	(d)		530,061
Children’s Place Retail Stores		31,381	(b,d)		986,932
Christopher & Banks		56,293	(d)		342,824
Dress Barn		39,377	(b)		710,755
Finish Line Cl A		67,225			681,662
Genesco		27,701	(b)		722,165
Group 1 Automotive		29,840	(d)		758,533
Gymboree		27,070	(b,d)		1,152,370
Haverty Furniture Companies		11,572	(b,d)		140,137
Hibbett Sports		22,059	(b,d)		413,386
Hot Topic		60,995	(b,d)		469,662
Jo-Ann Stores		31,183	(b,d)		830,091
Jos A Bank Clothiers		21,302	(b)		872,956
Lithia Motors Cl A		36,346	(b)		303,126
MarineMax		14,553	(b)		99,106
Men’s Wearhouse		58,571			1,357,089
Midas		8,904	(b,d)		71,766
Monro Muffler Brake		15,598			483,382
OfficeMax		81,599	(b)		932,677
Pep Boys — Manny, Moe & Jack		35,461	(d)		310,993
Sonic Automotive Cl A		53,174			475,376
Stage Stores		36,136			426,405
Stein Mart		16,376	(b)		155,572
Tractor Supply		33,596	(b,d)		1,501,740
Tween Brands		40,570	(b)		344,034
Zale		17,922	(b,d)		84,771
Zumiez		12,973	(b,d)		174,746
Total					17,408,912

Issuer	Shares			Value(a)
Textiles, Apparel & Luxury Goods (2.6%)
Carter’s		55,252	(b)		1,303,947
Crocs		107,568	(b)		654,013
Deckers Outdoor		14,770	(b,d)		1,324,426
Iconix Brand Group		62,959	(b)		734,102
K-Swiss Cl A		34,587	(d)		282,230
Liz Claiborne		117,951	(d)		677,039
Maidenform Brands		13,910	(b)		195,296
Movado Group		16,518	(d)		173,109
Oxford Inds		15,663	(d)		303,079
Perry Ellis Intl		6,704	(b)		91,644
Quiksilver		191,005	(b)		380,100
Skechers USA Cl A		39,606	(b,d)		864,203
True Religion Apparel		22,565	(b,d)		581,500
UniFirst		14,284	(d)		600,928
Volcom		11,359	(b,d)		188,673
Wolverine World Wide		54,776			1,401,170
Total					9,755,459
Thrifts & Mortgage Finance (0.4%)
Bank Mutual		34,465			241,944
Brookline Bancorp		46,795	(d)		458,123
Dime Community Bancshares		19,435	(d)		213,591
Trustco Bank NY		86,062			512,069
Total					1,425,727
Tobacco (0.1%)
Alliance One Intl		118,159	(b,d)		521,081
Trading Companies & Distributors (0.8%)
Applied Industrial Technologies		44,217	(d)		894,510
Kaman		28,884	(d)		596,743
Lawson Products		3,326			51,719
Watsco		29,628	(d)		1,517,547
Total					3,060,519
Water Utilities (0.1%)
American States Water		14,957	(d)		495,825
Wireless Telecommunication Services (0.1%)
USA Mobility		34,187			372,638
Total Common Stocks (Cost: $418,741,598)				$	370,621,230
Money Market Fund (0.4%)

	Shares			Value(a)
RiverSource Short-Term Cash Fund, 0.25%		1,503,506	(e)	$	1,503,506
Total Money Market Fund (Cost: $1,503,506)				$	1,503,506
Investments of Cash Collateral Received for Securities on Loan (28.5%)

	Shares		Value(a)
Cash Collateral Reinvestment Fund (6.2%)
JPMorgan Prime Money Market Fund		22,945,900	$	22,945,900

	Coupon			Principal
Issuer	rate			amount		Value(a)
Asset-Backed Commercial Paper (6.6%)
Belmont Funding LLC
11-03-09		0.52	%	$	2,999,697	$	2,999,697
Cancara Asset Securitisation LLC
01-20-10		0.28			4,996,461		4,996,461
Ebbets Funding LLC
11-20-09		0.50			1,499,354		1,499,354
Elysian Funding LLC
11-05-09		0.45			1,999,825		1,999,825
Grampian Funding LLC
12-01-09		0.29			4,998,711		4,998,711
Rheingold Securitization
12-16-09		0.38			3,996,749		3,996,749
Scaldis Capital LLC
11-19-09		0.26			3,999,220		3,999,220
Total							24,490,017
Certificates of Deposit (9.6%)
Bank of Tokyo UFJ London
12-21-09		0.37			3,000,039		3,000,039
Bayrische Hypo-Und Vereinsbank NY
02-01-10		0.43			2,000,000		2,000,000
Clydesdale Bank
12-01-09		0.38			4,996,783		4,996,783
Dexia Credit Local du France
11-09-09		0.43			4,998,149		4,998,149
Fortis Bank NY
12-31-09		0.24			4,000,000		4,000,000
Natixis NY
12-21-09		0.30			4,000,000		4,000,000
NyKredit
01-05-10		0.45			5,000,000		5,000,000
Sumitomo Mitsui Banking Corp Brussels
01-22-10		0.32			4,000,000		4,000,000
Ulster Bank Ireland
12-15-09		0.53			4,000,000		4,000,000
Total							35,994,971
Commercial Paper (2.9%)
BTM Capital
11-06-09		0.38			1,999,261		1,999,261
Citigroup Funding
11-09-09		0.33			3,998,717		3,998,717
KBC Financial Products
11-02-09		0.48			4,997,691		4,997,691
Total							10,995,669
Repurchase Agreements (3.2%)
Morgan Stanley
11-02-09		0.25			2,000,000		2,000,000
11-02-09		0.32			5,000,000		5,000,000
RBS Securities
11-02-09		0.42			5,000,000		5,000,000
Total							12,000,000

	Coupon	Principal
Issuer	rate	amount	Value(a)
Total Investments of Cash Collateral Received for Securities on Loan
(Cost: $106,426,557)			$	106,426,557
Total Investments in Securities
(Cost: $526,671,661)(f)			$	478,551,293

Investments of Derivatives

At Oct. 31, 2009, $208,000 was held in a margin deposit account as collateral to cover initial margin requirements on open stock index futures contracts.

Futures Contracts Outstanding at Oct. 31, 2009

	Number of					Unrealized
	contracts		Notional		Expiration	appreciation
Contract description	long (short)		market value		date	(depreciation)
Russell 2000 Mini Index		52	$	2,921,360	Dec. 2009	$	(230,707	)

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 July 31, 2009.

(b)  Non-income producing.

(c)  Foreign security values are stated in U.S. dollars. At Oct. 31, 2009, the value of foreign securities, excluding short-term securities, represented 0.2% of net assets.

(d)  At Oct. 31, 2009, security was partially or fully on loan.

(e)  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 Oct. 31, 2009.

(f)  At Oct. 31, 2009, the cost of securities for federal income tax purposes was approximately $526,672,000 and the approximate aggregate gross unrealized appreciation and depreciation based on that cost was:

Unrealized appreciation	$	43,646,000
Unrealized depreciation		(91,767,000	)
Net unrealized depreciation	$	(48,121,000	)

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

Generally accepted accounting principles (GAAP) require 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.

The Fund categorizes its fair value measurements according to a three-level hierarchy 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. 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 2 to the financial statements - Valuation of securities in the most recent Semiannual Report dated July 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 Oct. 31, 2009:

	Fair value at Oct. 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)	$	370,621,230		$	—	$	—	$	370,621,230
Total Equity Securities		370,621,230			—		—		370,621,230
Other
Affiliated Money Market Fund (b)		1,503,506			—		—		1,503,506
Investments of Cash Collateral Received for Securities on Loan (c)		22,945,900			83,480,657		—		106,426,557
Total Other		24,449,406			83,480,657		—		107,930,063
Investments in Securities		395,070,636			83,480,657		—		478,551,293
Other Financial Instruments (d)		(230,707	)		—		—		(230,707	)
Total	$	394,839,929		$	83,480,657	$	—	$	478,320,586

(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 Oct. 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 Market Advantage Series, Inc.

By	/s/ Patrick T. Bannigan
	Patrick T. Bannigan
	President and Principal Executive Officer
Date	December 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	December 29, 2009

By	/s/ Jeffrey P. Fox
	Jeffrey P. Fox
	Treasurer and Principal Financial Officer
Date	December 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 Market Advantage 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:	December 21, 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 Market Advantage 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:	December 21, 2009
	/s/ Jeffrey P. Fox
Name:	Jeffrey P. Fox
Title:	Treasurer and Principal Financial Officer