# EDGAR Filing Document

**Accession Number:** 0000702340
**File Stem:** 0000940400-25-009791
**Filing Date:** 2025-11
**Character Count:** 66749
**Document Hash:** be090d843484b3388de74e9b9c47ec0b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-009791.hdr.sgml**: 20251124

**ACCESSION NUMBER**: 0000940400-25-009791

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251124

**DATE AS OF CHANGE**: 20251124

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PENN SERIES FUNDS INC
- **CENTRAL INDEX KEY:** 0000702340

**ORGANIZATION NAME:**
- **EIN:** 232209178
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-03459
- **FILM NUMBER:** 251513150

**BUSINESS ADDRESS:**
- **STREET 1:** 600 DRESHER RD
- **STREET 2:** C3D
- **CITY:** HORSHAM
- **STATE:** PA
- **ZIP:** 19044
- **BUSINESS PHONE:** (215) 956-8835

**MAIL ADDRESS:**
- **STREET 1:** 600 DRESHER ROAD
- **STREET 2:** C3D
- **CITY:** HORSHAM
- **STATE:** PA
- **ZIP:** 19044

## Series and Classes Contracts Data

### High Yield Bond Fund (Series ID: S000006731)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000018294 | High Yield Bond Fund |  |

## Nport-Ex

#### Penn Series Funds, Inc.<br>

#### Schedule of Investments — September 30, 2025 (Unaudited)<br>

#### High Yield Bond Fund<br>

---

| | | |
|:---|:---|:---|
|  | **Par<br> (000)** | &nbsp;&nbsp;**Value†** |
| **ASSET BACKED SECURITIES — 0.5%** | **ASSET BACKED SECURITIES — 0.5%** | **ASSET BACKED SECURITIES — 0.5%** |
| Frontier Issuer LLC, Series 2023-1 Class A2, 144A<br> 6.600%, 08/20/53@<br> **(Cost $578,416)** | $600 | &nbsp;&nbsp;$**609393** |

---

---

| | | |
|:---|:---|:---|
|  | **Number of<br> Shares** |  |
| **COMMON STOCKS — 0.0%** | **COMMON STOCKS — 0.0%** | **COMMON STOCKS — 0.0%** |
| **Entertainment — 0.0%** | **Entertainment — 0.0%** | **Entertainment — 0.0%** |
| New Cotai Participation, Class B(1),\*<br> **(Cost $24,225)** | &nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;**0** |
| **PREFERRED STOCKS — 0.0%** | **PREFERRED STOCKS — 0.0%** | **PREFERRED STOCKS — 0.0%** |
| **Packaging and Containers — 0.0%** | **Packaging and Containers — 0.0%** | **Packaging and Containers — 0.0%** |
| Smurfit-Stone Container Corp. (Escrow) CONV.(1),\*<br> **(Cost $0)** | 725 | &nbsp;&nbsp;**0** |

---

---

| | | |
|:---|:---|:---|
|  | **Par<br> (000)** |  |
| **CORPORATE BONDS — 95.0%** | **CORPORATE BONDS — 95.0%** | **CORPORATE BONDS — 95.0%** |
| **Advertising — 1.7%** | **Advertising — 1.7%** | **Advertising — 1.7%** |
| Clear Channel Outdoor Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;144A, 7.125%, 02/15/31@ | &nbsp;&nbsp;$500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;517034 |
| &nbsp;&nbsp;&nbsp;144A, 7.500%, 03/15/33@ | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;522769 |
| Stagwell Global LLC, 144A<br> 5.625%, 08/15/29@ | &nbsp;&nbsp;&nbsp;1050 | &nbsp;&nbsp;1019880 |
|  |  | &nbsp;&nbsp;2059683 |
| **Aerospace & Defense — 0.8%** | **Aerospace & Defense — 0.8%** | **Aerospace & Defense — 0.8%** |
| Bombardier, Inc., 144A<br> 6.750%, 06/15/33@ | &nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;1043505 |
| **Airlines — 1.1%** | **Airlines — 1.1%** | **Airlines — 1.1%** |
| American Airlines Pass Through Trust, Series 2021-1 Class B<br> 3.950%, 01/11/32 | &nbsp;&nbsp;&nbsp;1095 | &nbsp;&nbsp;&nbsp;1045935 |
| American Airlines, Inc./AAdvantage Loyalty IP Ltd., 144A<br> 5.500%, 04/20/26@ | &nbsp;&nbsp;&nbsp;&nbsp;262 | &nbsp;&nbsp;&nbsp;&nbsp;262545 |
|  |  | &nbsp;&nbsp;1308480 |
| **Auto Parts & Equipment — 3.7%** | **Auto Parts & Equipment — 3.7%** | **Auto Parts & Equipment — 3.7%** |
| Clarios Global LP/Clarios US Finance Co. |  |  |
| &nbsp;&nbsp;&nbsp;144A, 6.750%, 02/15/30@ | &nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;1549515 |
| &nbsp;&nbsp;&nbsp;144A, 6.750%, 09/15/32@ | &nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;1022070 |
| Forvia S.E., 144A<br> 6.750%, 09/15/33@ | &nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;1013926 |
| The Goodyear Tire & Rubber Co.<br> 6.625%, 07/15/30 | &nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;1014063 |
|  |  | &nbsp;&nbsp;4599574 |
| **Banks — 0.9%** | **Banks — 0.9%** | **Banks — 0.9%** |
| Freedom Mortgage Corp., 144A<br> 12.250%, 10/01/30@ | &nbsp;&nbsp;&nbsp;1050 | &nbsp;&nbsp;&nbsp;&nbsp;1171351 |

---

---

| | | |
|:---|:---|:---|
|  | **Par<br> (000)** | &nbsp;&nbsp;**Value†** |
| **Building Materials — 2.9%** | **Building Materials — 2.9%** | **Building Materials — 2.9%** |
| Builders FirstSource, Inc., 144A<br> 6.750%, 05/15/35@ | $1500 | &nbsp;&nbsp;$1566199 |
| CP Atlas Buyer, Inc., 144A<br> 9.750%, 07/15/30@ | &nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;1047190 |
| Standard Building Solutions, Inc., 144A<br> 6.250%, 08/01/33@ | &nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;1012856 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;3626245 |
| **Chemicals — 5.5%** | **Chemicals — 5.5%** | **Chemicals — 5.5%** |
| Methanex US Operations, Inc., 144A<br> 6.250%, 03/15/32@ | &nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;1526257 |
| NOVA Chemicals Corp., 144A<br> 8.500%, 11/15/28@ | &nbsp;&nbsp;&nbsp;&nbsp;1775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1857451 |
| Olin Corp., 144A<br> 6.625%, 04/01/33@ | &nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;1005221 |
| Solstice Advanced Materials, Inc., 144A<br> 5.625%, 09/30/33@ | &nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;1003472 |
| WR Grace Holdings LLC, 144A<br> 6.625%, 08/15/32@ | &nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;1482577 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;6874978 |
| **Commercial Services — 8.1%** | **Commercial Services — 8.1%** | **Commercial Services — 8.1%** |
| Albion Financing 1 Sarl/Aggreko Holdings, Inc., 144A<br> 7.000%, 05/21/30@ | &nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;1032290 |
| Block, Inc., 144A<br> 6.000%, 08/15/33@ | &nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;1024042 |
| Herc Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;144A, 5.500%, 07/15/27@ | &nbsp;&nbsp;&nbsp;&nbsp;1015 | &nbsp;&nbsp;&nbsp;&nbsp;1012478 |
| &nbsp;&nbsp;&nbsp;144A, 7.250%, 06/15/33@ | &nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;1043891 |
| Neptune Bidco US, Inc., 144A<br> 9.290%, 04/15/29@ | &nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1471035 |
| Service Corp. International |  |  |
| &nbsp;&nbsp;&nbsp;7.500%, 04/01/27 | &nbsp;&nbsp;&nbsp;&nbsp;1750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1812563 |
| &nbsp;&nbsp;&nbsp;4.000%, 05/15/31 | &nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;1414398 |
| Williams Scotsman, Inc., 144A<br> 4.625%, 08/15/28@ | &nbsp;&nbsp;&nbsp;&nbsp;1350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1327251 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;10137948 |
| **Diversified Financial Services — 1.7%** | **Diversified Financial Services — 1.7%** | **Diversified Financial Services — 1.7%** |
| EZCORP, Inc., 144A<br> 7.375%, 04/01/32@ | &nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;1065488 |
| Jefferson Capital Holdings LLC, 144A<br> 8.250%, 05/15/30@ | &nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;1046374 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2111862 |
| **Electric — 7.2%** | **Electric — 7.2%** | **Electric — 7.2%** |
| Lightning Power LLC, 144A<br> 7.250%, 08/15/32@ | &nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;1058822 |
| NRG Energy, Inc., 144A<br> 6.250%, 11/01/34@ | &nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1537635 |
| Talen Energy Supply LLC, 144A<br> 8.625%, 06/01/30@ | &nbsp;&nbsp;&nbsp;&nbsp;1300 | &nbsp;&nbsp;&nbsp;&nbsp;1379975 |
| Vistra Corp. (UST Yield Curve CMT 5 Yr + 6.930%), 144A<br> 8.000%@,µ,• | &nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;2045716 |

---

------

#### Penn Series Funds, Inc.<br>

#### Schedule of Investments — September 30, 2025 (Unaudited)<br>

#### High Yield Bond Fund<br>

---

| | | |
|:---|:---|:---|
|  | **Par<br> (000)** | &nbsp;&nbsp;**Value†** |
| **CORPORATE BONDS — (continued)** | **CORPORATE BONDS — (continued)** | **CORPORATE BONDS — (continued)** |
| **Electric — (continued)** | **Electric — (continued)** | **Electric — (continued)** |
| Vistra Operations Co. LLC, 144A<br> 6.875%, 04/15/32@ | $1500 | &nbsp;&nbsp;$1568514 |
| Vistra Operations Co., LLC, 144A<br> 5.000%, 07/31/27@ | &nbsp;&nbsp;&nbsp;1400 | &nbsp;&nbsp;&nbsp;&nbsp;1395364 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;8986026 |
| **Electrical Components & Equipment — 1.0%** | **Electrical Components & Equipment — 1.0%** | **Electrical Components & Equipment — 1.0%** |
| WESCO Distribution, Inc., 144A<br> 7.250%, 06/15/28@ | &nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1215610 |
| **Engineering & Construction — 1.3%** | **Engineering & Construction — 1.3%** | **Engineering & Construction — 1.3%** |
| Arcosa, Inc., 144A<br> 6.875%, 08/15/32@ | &nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;1566723 |
| **Entertainment — 2.5%** | **Entertainment — 2.5%** | **Entertainment — 2.5%** |
| Light & Wonder International, Inc., 144A<br> 6.250%, 10/01/33@ | &nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;1502550 |
| Mohegan Tribal Gaming Authority/MS Digital Entertainment Holdings LLC, 144A<br> 8.250%, 04/15/30@ | &nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;1558640 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;3061190 |
| **Environmental Control — 1.2%** | **Environmental Control — 1.2%** | **Environmental Control — 1.2%** |
| Clean Harbors, Inc., 144A<br> 6.375%, 02/01/31@ | &nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;1535876 |
| **Food — 0.8%** | **Food — 0.8%** | **Food — 0.8%** |
| Viking Baked Goods Acquisition Corp., 144A<br> 8.625%, 11/01/31@ | &nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;1000437 |
| **Healthcare Products — 2.9%** | **Healthcare Products — 2.9%** | **Healthcare Products — 2.9%** |
| Avantor Funding, Inc., 144A<br> 4.625%, 07/15/28@ | &nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp;1082009 |
| Insulet Corp., 144A<br> 6.500%, 04/01/33@ | &nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;1039704 |
| Medline Borrower LP, 144A<br> 5.250%, 10/01/29@ | &nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;1486906 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;3608619 |
| **Healthcare Services — 6.5%** | **Healthcare Services — 6.5%** | **Healthcare Services — 6.5%** |
| Encompass Health Corp.<br> 4.750%, 02/01/30 | &nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;1975800 |
| LifePoint Health, Inc., 144A<br> 8.375%, 02/15/32@ | &nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;1598596 |
| Prime Healthcare Services, Inc., 144A<br> 9.375%, 09/01/29@ | &nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;1560000 |
| Surgery Center Holdings, Inc., 144A<br> 7.250%, 04/15/32@ | &nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;1540763 |
| Tenet Healthcare Corp.<br> 5.125%, 11/01/27 | &nbsp;&nbsp;&nbsp;1400 | &nbsp;&nbsp;&nbsp;&nbsp;1396688 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;8071847 |
| **Home Furnishings — 0.8%** | **Home Furnishings — 0.8%** | **Home Furnishings — 0.8%** |
| Whirlpool Corp.<br> 6.500%, 06/15/33 | &nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;997549 |

---

---

| | | |
|:---|:---|:---|
|  | **Par<br> (000)** | &nbsp;&nbsp;**Value†** |
| **Insurance — 0.8%** | **Insurance — 0.8%** | **Insurance — 0.8%** |
| Acrisure LLC/Acrisure Finance, Inc., 144A<br> 6.750%, 07/01/32@ | $1000 | &nbsp;&nbsp;$1029684 |
| **Internet — 1.1%** | **Internet — 1.1%** | **Internet — 1.1%** |
| Go Daddy Operating Co., LLC/GD Finance Co., Inc., 144A<br> 5.250%, 12/01/27@ | &nbsp;&nbsp;&nbsp;1400 | &nbsp;&nbsp;&nbsp;&nbsp;1397527 |
| **Leisure Time — 0.8%** | **Leisure Time — 0.8%** | **Leisure Time — 0.8%** |
| Carnival Corp., 144A<br> 5.750%, 08/01/32@ | &nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1017491 |
| **Lodging — 1.2%** | **Lodging — 1.2%** | **Lodging — 1.2%** |
| Boyd Gaming Corp., 144A<br> 4.750%, 06/15/31@ | &nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;1446245 |
| **Media — 4.8%** | **Media — 4.8%** | **Media — 4.8%** |
| CCO Holdings LLC/CCO Holdings Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;144A, 5.125%, 05/01/27@ | &nbsp;&nbsp;&nbsp;&nbsp;1675 | &nbsp;&nbsp;&nbsp;&nbsp;1663093 |
| &nbsp;&nbsp;&nbsp;144A, 4.250%, 01/15/34@ | &nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;1727744 |
| Gray Media, Inc., 144A<br> 10.500%, 07/15/29@ | &nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;1080447 |
| Sirius XM Radio LLC, 144A<br> 5.500%, 07/01/29@ | &nbsp;&nbsp;&nbsp;&nbsp;1550 | &nbsp;&nbsp;&nbsp;&nbsp;1550237 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;6021521 |
| **Mining — 5.4%** | **Mining — 5.4%** | **Mining — 5.4%** |
| Alumina Pty Ltd., 144A<br> 6.375%, 09/15/32@ | &nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;2049997 |
| Capstone Copper Corp., 144A<br> 6.750%, 03/31/33@ | &nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;1545007 |
| First Quantum Minerals Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;144A, 8.000%, 03/01/33@ | &nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;1054883 |
| &nbsp;&nbsp;&nbsp;144A, 7.250%, 02/15/34@ | &nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;1033969 |
| Fortescue Treasury Pty Ltd., 144A<br> 5.875%, 04/15/30@ | &nbsp;&nbsp;&nbsp;1050 | &nbsp;&nbsp;&nbsp;&nbsp;1076314 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;6760170 |
| **Oil & Gas — 10.6%** | **Oil & Gas — 10.6%** | **Oil & Gas — 10.6%** |
| Ascent Resources Utica Holdings LLC/ARU Finance Corp., 144A<br> 6.625%, 10/15/32@ | &nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;1530969 |
| Baytex Energy Corp., 144A<br> 8.500%, 04/30/30@ | &nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;1027596 |
| Chord Energy Corp., 144A<br> 6.750%, 03/15/33@ | &nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;1519783 |
| Civitas Resources, Inc., 144A<br> 9.625%, 06/15/33@ | &nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;1577849 |
| Comstock Resources, Inc., 144A<br> 6.750%, 03/01/29@ | &nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;1497766 |
| Crescent Energy Finance LLC, 144A<br> 7.375%, 01/15/33@ | &nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;974384 |
| Gulfport Energy Operating Corp., 144A<br> 6.750%, 09/01/29@ | &nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;1026789 |
| Occidental Petroleum Corp.<br> 8.500%, 07/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;1491 | &nbsp;&nbsp;&nbsp;&nbsp;1563647 |

---

------

#### Penn Series Funds, Inc.<br>

#### Schedule of Investments — September 30, 2025 (Unaudited)<br>

#### High Yield Bond Fund<br>

---

| | | |
|:---|:---|:---|
|  | **Par<br> (000)** | &nbsp;&nbsp;**Value†** |
| **CORPORATE BONDS — (continued)** | **CORPORATE BONDS — (continued)** | **CORPORATE BONDS — (continued)** |
| **Oil & Gas — (continued)** | **Oil & Gas — (continued)** | **Oil & Gas — (continued)** |
| Permian Resources Operating LLC, 144A<br> 6.250%, 02/01/33@ | $1500 | &nbsp;&nbsp;$1527963 |
| Sunoco LP, 144A<br> 5.875%, 03/15/34@ | &nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;991367 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;13238113 |
| **Oil & Gas Services — 1.2%** | **Oil & Gas Services — 1.2%** | **Oil & Gas Services — 1.2%** |
| WBI Operating LLC, 144A<br> 6.250%, 10/15/30@ | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 |
| Weatherford International Ltd., 144A<br> 6.750%, 10/15/33@ | &nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;1000771 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1500771 |
| **Packaging and Containers — 3.7%** | **Packaging and Containers — 3.7%** | **Packaging and Containers — 3.7%** |
| Crown Americas LLC, 144A<br> 5.875%, 06/01/33@ | &nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1515217 |
| Graham Packaging Co., Inc., 144A<br> 7.125%, 08/15/28@ | &nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;1502712 |
| Trivium Packaging Finance BV, 144A<br> 8.250%, 07/15/30@ | &nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;1600399 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;4618328 |
| **Pharmaceuticals — 3.6%** | **Pharmaceuticals — 3.6%** | **Pharmaceuticals — 3.6%** |
| Amneal Pharmaceuticals LLC, 144A<br> 6.875%, 08/01/32@ | &nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;1034806 |
| Elanco Animal Health, Inc.<br> 6.650%, 08/28/28 | &nbsp;&nbsp;&nbsp;1050 | &nbsp;&nbsp;&nbsp;&nbsp;1091857 |
| Jazz Securities DAC, 144A<br> 4.375%, 01/15/29@ | &nbsp;&nbsp;&nbsp;1400 | &nbsp;&nbsp;&nbsp;&nbsp;1363938 |
| Paradigm Parent LLC and Paradigm Parent CO-Issuer, Inc., 144A<br> 8.750%, 04/17/32@ | &nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;971250 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;4461851 |
| **Pipelines — 4.0%** | **Pipelines — 4.0%** | **Pipelines — 4.0%** |
| Energy Transfer LP, Series H (UST Yield Curve CMT 5 Yr + 5.694%)<br> 6.500%µ,• | &nbsp;&nbsp;&nbsp;1975 | &nbsp;&nbsp;&nbsp;&nbsp;1982367 |
| Rockies Express Pipeline LLC, 144A<br> 6.750%, 03/15/33@ | &nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;1565763 |
| Venture Global LNG, Inc. (UST Yield Curve CMT 5 Yr + 5.440%), 144A<br> 9.000%@,µ,• | &nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;1486545 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;5034675 |
| **Real Estate Investment Trusts — 1.7%** | **Real Estate Investment Trusts — 1.7%** | **Real Estate Investment Trusts — 1.7%** |
| Millrose Properties, Inc., 144A<br> 6.250%, 09/15/32@ | &nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;1002308 |
| MPT Operating Partnership LP/MPT Finance Corp., 144A<br> 8.500%, 02/15/32@ | &nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;1062637 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2064945 |
| **Retail — 3.2%** | **Retail — 3.2%** | **Retail — 3.2%** |
| Bath & Body Works, Inc.<br> 6.875%, 11/01/35 | &nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;1560019 |
| Macy's Retail Holdings LLC<br> 4.500%, 12/15/34 | &nbsp;&nbsp;&nbsp;1250 | &nbsp;&nbsp;&nbsp;&nbsp;1095471 |

---

---

| | | |
|:---|:---|:---|
|  | **Par<br> (000)** | &nbsp;&nbsp;**Value†** |
| **Retail — (continued)** | **Retail — (continued)** | **Retail — (continued)** |
| The Gap, Inc., 144A<br> 3.875%, 10/01/31@ | $1500 | &nbsp;&nbsp;&nbsp;&nbsp;$1362971 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4018461 |
| **Semiconductors — 0.4%** | **Semiconductors — 0.4%** | **Semiconductors — 0.4%** |
| Amkor Technology, Inc., 144A<br> 5.875%, 10/01/33@ | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;505080 |
| **Software — 0.6%** | **Software — 0.6%** | **Software — 0.6%** |
| Open Text Corp., 144A<br> 6.900%, 12/01/27@ | &nbsp;&nbsp;&nbsp;&nbsp;675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;703033 |
| **Telecommunications — 1.3%** | **Telecommunications — 1.3%** | **Telecommunications — 1.3%** |
| Windstream Services LLC/Windstream Escrow Finance Corp., 144A<br> 8.250%, 10/01/31@ | &nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1553786 |
| **TOTAL CORPORATE BONDS<br> (Cost $115,060,270)** |  | &nbsp;&nbsp;&nbsp;&nbsp;**118349184** |
| **LOAN AGREEMENTS‡ — 3.2%** | **LOAN AGREEMENTS‡ — 3.2%** | **LOAN AGREEMENTS‡ — 3.2%** |
| **Commercial Services — 0.8%** | **Commercial Services — 0.8%** | **Commercial Services — 0.8%** |
| Aggreko Holdings, Inc.<br> 0.000%, 05/21/31× | &nbsp;&nbsp;&nbsp;&nbsp;993 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;994378 |
| **Leisure Time — 1.2%** | **Leisure Time — 1.2%** | **Leisure Time — 1.2%** |
| MajorDrive Holdings IV LLC (3 M SOFR + 4.260%)<br> 8.263%, 06/01/28• | &nbsp;&nbsp;&nbsp;1488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1449065 |
| **Retail — 1.2%** | **Retail — 1.2%** | **Retail — 1.2%** |
| EG America LLC (3 M SOFR + 3.500%)<br> 7.699%, 02/07/28• | &nbsp;&nbsp;&nbsp;1485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1491919 |
| **TOTAL LOAN AGREEMENTS<br> (Cost $3,839,373)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3935362** |

---

---

| |
|:---|
| **Number of<br> Shares** |
| **SHORT-TERM INVESTMENTS — 1.1%** |

---

---

| | | |
|:---|:---|:---|
| BlackRock Liquidity FedFund - Institutional Shares (seven-day effective yield 4.027%)<br> **(Cost $1,349,248)** | 1349248 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1349248** |
| **TOTAL INVESTMENTS — 99.8%<br> (Cost $120,851,532)** |  | &nbsp;&nbsp;**$124243187** |
| **Other Assets & Liabilities — 0.2%** | **Other Assets & Liabilities — 0.2%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**304089** |
| **TOTAL NET ASSETS — 100.0%** |  | &nbsp;&nbsp;**$124547276** |

---

------

† See Security Valuation Note in the most recent semi-annual or annual report.

------

#### Penn Series Funds, Inc.<br>

#### Schedule of Investments — September 30, 2025 (Unaudited)<br>

#### High Yield Bond Fund<br>

---

| | |
|:---|:---|
| @ | Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. At September 30, 2025, the aggregate value of Rule 144A securities was $102,008,220, which represents 81.9% of the Fund's net assets. |
| (1) | The value of this security was determined using significant unobservable inputs . |
| \* | Non-income producing security. |
| µ | Perpetual security with no stated maturity date. |
| • | Variable rate security. The rate disclosed is the rate in effect on the report date. The information in parenthesis represents the benchmark and reference rate for each relevant security and the rate floats based upon the reference rate and spread. The security may be further subject to interest rate floors and caps. For loan agreements, the rate shown may represent a weighted average interest rate. Certain variable rate securities are not based on a published reference rate and spread, but are determined by the issuer or agent and are based on current market conditions, or, for mortgage-backed securities, are impacted by the individual mortgages which are paying off over time. These securities do not indicate a reference rate and spread in their descriptions. |
| ‡ | Loan Agreements in which the Fund invests generally pay interest at rates which are periodically predetermined by reference to a base lending rate plus a premium. These base lending rates are generally (i) the Prime Rate offered by one or more major U.S. banks, (ii) the lending rate offered by one or more European banks such as the Secured Overnight Financing Rate ("SOFR") or (iii) the Certificate of Deposit rate. Rate shown represents the actual rate at September 30, 2025. Loan Agreements, while exempt from registration under the Security Act of 1933, as amended (the "1933 Act"), contain certain restrictions on resale and cannot be sold publicly. Floating rate Loan Agreements often require repayments from excess cash flow or permit the borrower to repay at its election. The degree to which borrowers repay, whether as a contractual requirement or at their election, cannot be predicted with accuracy. As a result, the actual remaining maturity may be substantially less than the stated maturity shown. |
| × | This loan will settle after September 30, 2025, at which time the interest rate, based on the SOFR and the agreed upon spread on trade date, will be reflected. |

---

---

| |
|:---|
| CMT— Constant Maturity Treasury. |
| LLC— Limited Liability Company. |
| LP— Limited Partnership. |
| M— Month. |
| S.E.— Societas Europaea. |
| SOFR— Secured Overnight Financing Rate. |
| UST— US Treasury. |
| Yr— Year. |

---

---

| | |
|:---|:---|
| **Country Weightings as of 9/30/2025††** | **Country Weightings as of 9/30/2025††** |
| United States | &nbsp;&nbsp;&nbsp;87% |
| Canada | &nbsp;&nbsp;&nbsp;&nbsp;7 |
| Australia | &nbsp;&nbsp;&nbsp;&nbsp;2 |
| Netherlands | &nbsp;&nbsp;&nbsp;&nbsp;1 |
| Ireland | &nbsp;&nbsp;&nbsp;&nbsp;1 |
| Luxembourg | &nbsp;&nbsp;&nbsp;&nbsp;1 |
| France | &nbsp;&nbsp;&nbsp;&nbsp;1 |
| Total | 100% |

---

---

| | |
|:---|:---|
| †† | % of total investments as of September 30, 2025. |

---

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Penn Series Funds Inc

- **b. Investment Company Act file number:** 811-03459

- **c. CIK number of Registrant:** 0000702340

- **d. LEI of Registrant:** 549300GLJSCMRCVZWX45

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** Eight Tower Bridge

  - **City:** Conshohocken

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 19428

  - **Telephone number:** 215-956-8114

**Item A.2. Information about the Series.**

- **a. Name of Series:** Penn Series High Yield Bond Fund

- **b. EDGAR series identifier (if any):** S000006731

- **c. LEI of Series:** PYMGCS7VD6DE680QME20

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-09-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $129636911.54

**Total Liabilities:** $5502469.62

**Net Assets:** $124134441.92

**Delayed Delivery Securities:** $1500000.00

**Cash Not Reported:** $8.36

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 83.75564000 | **1-Year:** 976.70251000 | **5-Year:** 2757.67580000 | **10-Year:** 397.91346000 | **30-Year:** 0.00000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 206.45054000 | **1-Year:** 9745.67578000 | **5-Year:** 24354.38156000 | **10-Year:** 1361.79969000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000018294 | 0.25%                | 1.21%                | 0.70%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $17883.78                | $-299174.95                                |
| Month 2  | $233198.67               | $634128.49                                 |
| Month 3  | $245428.02               | $-17358.39                                 |

### Schedule of Portfolio Investments

| Name                         | Title                                                                   | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| VISTRA OPERATIONS CO LLC     | Vistra Operations Co LLC                                                | CUSIP: 92840VAF9<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |   1400000 | PA      | $1395363.90   | 1.12%             | 2027-07-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WHIRLPOOL CORP               | Whirlpool Corp                                                          | CUSIP: 963320BE5<br>LEI: WHENKOULSSK7WUM60H03 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $997548.70    | 0.80%             | 2033-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MOHEGAN TRIBAL / MS DIG      | Mohegan Tribal Gaming Authority / MS Digital Entertainment Holdings LLC | CUSIP: 60832QAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1558639.50   | 1.26%             | 2030-04-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| ENCOMPASS HEALTH CORP        | Encompass Health Corp                                                   | CUSIP: 29261AAB6<br>LEI: 549300FVRPM9DRQZRG64 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1975800.00   | 1.59%             | 2030-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NEPTUNE BIDCO US INC         | Neptune Bidco US Inc                                                    | CUSIP: 640695AA0<br>LEI: 549300VG15T3VCYZ4531 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1471035.00   | 1.19%             | 2029-04-15      | Fixed         | 9.29%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR     | Occidental Petroleum Corp                                               | CUSIP: 674599DZ5<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   1491000 | PA      | $1563647.48   | 1.26%             | 2027-07-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| ARCOSA INC                   | Arcosa Inc                                                              | CUSIP: 039653AC4<br>LEI: 549300WFHLTCZV7D6V29 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1566723.00   | 1.26%             | 2032-08-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                | Carnival Corp                                                           | CUSIP: 143658CA8<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |   1000000 | PA      | $1017490.46   | 0.82%             | 2032-08-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ACRISURE LLC / FIN INC       | Acrisure LLC / Acrisure Finance Inc                                     | CUSIP: 004961AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1029684.00   | 0.83%             | 2032-07-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| INSULET CORPORATION          | Insulet Corp                                                            | CUSIP: 45784PAL5<br>LEI: 549300TZTYD2PYN92D43 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1039704.00   | 0.84%             | 2033-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO     | Clear Channel Outdoor Holdings Inc                                      | CUSIP: 18453HAG1<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |    500000 | PA      | $517033.93    | 0.42%             | 2031-02-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| TRIVIUM PACKAGING FIN        | Trivium Packaging Finance BV                                            | CUSIP: 89686QAD8<br>LEI: 724500GMZWW3PVYET548 | Long             | DBT              | CORP              | NL        |   1500000 | PA      | $1600399.50   | 1.29%             | 2030-07-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO LLC          | Sirius XM Radio LLC                                                     | CUSIP: 82967NBC1<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |   1550000 | PA      | $1550237.15   | 1.25%             | 2029-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| OLIN CORP                    | Olin Corp                                                               | CUSIP: 680665AN6<br>LEI: 549300GKK294V7W57P06 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1005220.55   | 0.81%             | 2033-04-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC       | Venture Global LNG Inc                                                  | CUSIP: 92332YAF8<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1486545.30   | 1.20%             | N/A             | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC     | Vistra Operations Co LLC                                                | CUSIP: 92840VAR3<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1568514.00   | 1.26%             | 2032-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC               | NRG Energy Inc                                                          | CUSIP: 629377CX8<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1537635.68   | 1.24%             | 2034-11-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| LIGHT & WONDER INTL INC      | Light & Wonder International Inc                                        | CUSIP: 531968AB1<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1502550.00   | 1.21%             | 2033-10-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CAPSTONE COPPER CORP         | Capstone Copper Corp                                                    | CUSIP: 14071LAA6<br>LEI: 549300III6KGKKC42W63 | Long             | DBT              | CORP              | CA        |   1500000 | PA      | $1545007.50   | 1.24%             | 2033-03-31      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BlackRock Liquidity FedFund  | BlackRock Liquidity FedFund                                             | CUSIP: 09248U700<br>LEI: 549300T8K043VZEOVK74 | Long             | STIV             | RF                | US        |   1349248 | NS      | $1349247.69   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO     | Clear Channel Outdoor Holdings Inc                                      | CUSIP: 18453HAH9<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |    500000 | PA      | $522769.00    | 0.42%             | 2033-03-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| BLOCK INC                    | Block Inc                                                               | CUSIP: 852234AU7<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1024042.47   | 0.82%             | 2033-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CIVITAS RESOURCES INC        | Civitas Resources Inc                                                   | CUSIP: 17888HAD5<br>LEI: IIVIHPH28S64K95M2381 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1577849.10   | 1.27%             | 2033-06-15      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| ELANCO ANIMAL HEALTH INC     | Elanco Animal Health Inc                                                | CUSIP: 28414HAG8<br>LEI: 549300SHPNDCE059M934 | Long             | DBT              | CORP              | US        |   1050000 | PA      | $1091857.20   | 0.88%             | 2028-08-28      | Variable      | 6.65%                 | No            |                  2 | On Loan: No      |
| WINDSTREAM SERVICES/ESCR     | Windstream Services LLC / Windstream Escrow Finance Corp                | CUSIP: 97381AAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1553785.50   | 1.25%             | 2031-10-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| GULFPORT ENERGY OP CORP      | Gulfport Energy Operating Corp                                          | CUSIP: 402635AT3<br>LEI: 549300FJX18IDUFPHD40 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1026789.00   | 0.83%             | 2029-09-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN     | Clarios Global LP / Clarios US Finance Co                               | CUSIP: 18060TAD7<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   1500000 | PA      | $1549515.00   | 1.25%             | 2030-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| FORVIA SE                    | Forvia SE                                                               | CUSIP: 31209DAC9<br>LEI: 969500F0VMZLK2IULV85 | Long             | DBT              | CORP              | FR        |   1000000 | PA      | $1013926.39   | 0.82%             | 2033-09-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| LIFEPOINT HEALTH INC         | LifePoint Health Inc                                                    | CUSIP: 53219LAY5<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1598596.50   | 1.29%             | 2032-02-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| TALEN ENERGY SUPPLY LLC      | Talen Energy Supply LLC                                                 | CUSIP: 87422VAK4<br>LEI: K5K33XN0PQAU1XF7NN66 | Long             | DBT              | CORP              | US        |   1300000 | PA      | $1379974.70   | 1.11%             | 2030-06-01      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| JAZZ SECURITIES DAC          | Jazz Securities DAC                                                     | CUSIP: 47216FAA5<br>LEI: 6354009DV8VV7K6KOO02 | Long             | DBT              | CORP              | IE        |   1400000 | PA      | $1363938.04   | 1.10%             | 2029-01-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| CROWN AMERICAS LLC           | Crown Americas LLC                                                      | CUSIP: 228180AC9<br>LEI: RPPGGRL1J75WGF2DFO04 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1515216.51   | 1.22%             | 2033-06-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| GRAY MEDIA INC               | Gray Media Inc                                                          | CUSIP: 389375AM8<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1080447.00   | 0.87%             | 2029-07-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| VISTRA CORP                  | Vistra Corp                                                             | CUSIP: 92840MAB8<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2045716.00   | 1.65%             | N/A             | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC            | Herc Holdings Inc                                                       | CUSIP: 42704LAA2<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |   1015000 | PA      | $1012478.03   | 0.82%             | 2027-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP           | Energy Transfer LP                                                      | CUSIP: 29273VAN0<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   1975000 | PA      | $1982366.75   | 1.60%             | N/A             | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FIRST QUANTUM MINERALS L     | First Quantum Minerals Ltd                                              | CUSIP: 335934AW5<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |   1000000 | PA      | $1054883.00   | 0.85%             | 2033-03-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| JEFFERSON CAPITAL HOLDIN     | Jefferson Capital Holdings LLC                                          | CUSIP: 472481AC4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1046374.00   | 0.84%             | 2030-05-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| WR GRACE HOLDING LLC         | WR Grace Holdings LLC                                                   | CUSIP: 92943GAF8<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1482577.50   | 1.19%             | 2032-08-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| SERVICE CORP INTL            | Service Corp International/US                                           | CUSIP: 817565BT0<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |   1750000 | PA      | $1812562.50   | 1.46%             | 2027-04-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ALUMINA PTY LTD              | Alumina Pty Ltd                                                         | CUSIP: 02220AAB3<br>LEI: 2138002VD9MW2WT8HR38 | Long             | DBT              | CORP              | AU        |   2000000 | PA      | $2049996.70   | 1.65%             | 2032-09-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER LP          | Medline Borrower LP                                                     | CUSIP: 62482BAB8<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1486905.90   | 1.20%             | 2029-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ASCENT RESOURCES/ARU FIN     | Ascent Resources Utica Holdings LLC / ARU Finance Corp                  | CUSIP: 04364VAX1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1530969.00   | 1.23%             | 2032-10-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| AMKOR TECHNOLOGY INC         | Amkor Technology Inc                                                    | CUSIP: 031652BL3<br>LEI: 529900VHLRTKPWZJBM84 | Long             | DBT              | CORP              | US        |    500000 | PA      | $505080.43    | 0.41%             | 2033-10-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Frontier Issuer LLC          | Frontier Issuer LLC                                                     | CUSIP: 35910EAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    600000 | PA      | $609393.06    | 0.49%             | 2053-08-20      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| CLEAN HARBORS INC            | Clean Harbors Inc                                                       | CUSIP: 184496AR8<br>LEI: 5493000SJVZVZJKHJF48 | Long             | DBT              | CORP              | US        |    500000 | PA      | $504365.93    | 0.41%             | 2033-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| STANDARD BUILDING SOLUTI     | Standard Building Solutions Inc                                         | CUSIP: 853191AC8<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1012856.00   | 0.82%             | 2033-08-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| VIKING BAKED GOODS ACQUI     | Viking Baked Goods Acquisition Corp                                     | CUSIP: 92676AAA5<br>LEI: 254900DBFD2H1FJK0893 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1000437.00   | 0.81%             | 2031-11-01      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| CHORD ENERGY CORP            | Chord Energy Corp                                                       | CUSIP: 674215AN8<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1519783.05   | 1.22%             | 2033-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| MIDAS OPCO HOLDINGS LLC      | Stagwell Global LLC                                                     | CUSIP: 59565JAA9<br>LEI: 984500904E015Z0C1F82 | Long             | DBT              | CORP              | US        |   1050000 | PA      | $1019880.44   | 0.82%             | 2029-08-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN     | Clarios Global LP / Clarios US Finance Co                               | CUSIP: 18060TAE5<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   1000000 | PA      | $1022070.00   | 0.82%             | 2032-09-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| OPEN TEXT CORP               | Open Text Corp                                                          | CUSIP: 683715AF3<br>LEI: 549300HP7ONDQODZJV16 | Long             | DBT              | CORP              | CA        |    675000 | PA      | $703033.01    | 0.57%             | 2027-12-01      | Fixed         | 6.90%                 | No            |                  2 | On Loan: No      |
| NOVA CHEMICALS CORP          | NOVA Chemicals Corp                                                     | CUSIP: 66977WAT6<br>LEI: 549300ZOD6N7RI2FJP09 | Long             | DBT              | CORP              | CA        |   1775000 | PA      | $1857450.72   | 1.50%             | 2028-11-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| SERVICE CORP INTL            | Service Corp International/US                                           | CUSIP: 817565CG7<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1414398.45   | 1.14%             | 2031-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COMSTOCK RESOURCES INC       | Comstock Resources Inc                                                  | CUSIP: 205768AS3<br>LEI: I03QQGEA4SS774AURI46 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1497766.35   | 1.21%             | 2029-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| EG America LLC               | EG AMERICA LLC                                                          | CUSIP: 000000000<br>LEI: 549300BY1CRYVPEG9R57 | Long             | LON              | CORP              | US        |   1485028 | PA      | $1491918.65   | 1.20%             | 2028-02-07      | Floating      | 7.70%                 | No            |                  2 | On Loan: No      |
| AVANTOR FUNDING INC          | Avantor Funding Inc                                                     | CUSIP: 05352TAA7<br>LEI: 5493003VM0XB4U8YD238 | Long             | DBT              | CORP              | US        |   1100000 | PA      | $1082008.84   | 0.87%             | 2028-07-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| MajorDrive Holdings IV LLC   | MajorDrive Holdings IV LLC                                              | CUSIP: 56085UAB9<br>LEI: 25490044R1FR5N8FIT62 | Long             | LON              | CORP              | US        |   1492228 | PA      | $1452848.08   | 1.17%             | 2028-06-01      | Floating      | 8.26%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC            | Herc Holdings Inc                                                       | CUSIP: 42704LAG9<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1043890.72   | 0.84%             | 2033-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| ROCKIES EXPRESS PIPELINE     | Rockies Express Pipeline LLC                                            | CUSIP: 77340RAU1<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1565763.00   | 1.26%             | 2033-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| GAP INC/THE                  | Gap Inc/The                                                             | CUSIP: 364760AQ1<br>LEI: T2ZG1WRWZ4BUCMQL9224 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1362970.95   | 1.10%             | 2031-10-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP       | CCO Holdings LLC / CCO Holdings Capital Corp                            | CUSIP: 1248EPCP6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1727744.40   | 1.39%             | 2034-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| SOLSTICE ADVANCED MATERI     | Solstice Advanced Materials Inc                                         | CUSIP: 83443QAA1<br>LEI: 2138004GZ4H9TW6HK435 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1003472.15   | 0.81%             | 2033-09-30      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC               | Bombardier Inc                                                          | CUSIP: 097751CD1<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |   1000000 | PA      | $1043505.00   | 0.84%             | 2033-06-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| PERMIAN RESOURC OPTG LLC     | Permian Resources Operating LLC                                         | CUSIP: 71424VAB6<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1527962.97   | 1.23%             | 2033-02-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| PRIME HEALTHCARE SERVICE     | Prime Healthcare Services Inc                                           | CUSIP: 74165HAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1560000.00   | 1.26%             | 2029-09-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| EZCORP INC                   | EZCORP Inc                                                              | CUSIP: 302301AJ5<br>LEI: 5493003K6PG3ZQ7TUQ63 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1065488.00   | 0.86%             | 2032-04-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| FORTESCUE TREASURY PTY L     | Fortescue Treasury Pty Ltd                                              | CUSIP: 30251GBD8<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |   1050000 | PA      | $1076314.05   | 0.87%             | 2030-04-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| NEW COTAI PARTICIPATION CL B | NEW COTAI PARTICIPATION CL B                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         1 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| AMNEAL PHARMACEUTICALS L     | Amneal Pharmaceuticals LLC                                              | CUSIP: 03168LAA3<br>LEI: 54930037VIXE7LRZ1M66 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1034806.00   | 0.83%             | 2032-08-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CRESCENT ENERGY FINANCE      | Crescent Energy Finance LLC                                             | CUSIP: 45344LAE3<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $974383.90    | 0.78%             | 2033-01-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| ALBION FINANCING 1SARL /     | Albion Financing 1 SARL / Aggreko Holdings Inc                          | CUSIP: 01330AAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |   1000000 | PA      | $1032290.00   | 0.83%             | 2030-05-21      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| GRAHAM PACKAGING/GPC CAP     | Graham Packaging Co Inc                                                 | CUSIP: 384701AA6<br>LEI: 549300YS0ZFT826HIK72 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1502712.00   | 1.21%             | 2028-08-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| FIRST QUANTUM MINERALS L     | First Quantum Minerals Ltd                                              | CUSIP: 335934AX3<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |   1000000 | PA      | $1033969.00   | 0.83%             | 2034-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES/AADVAN     | American Airlines Inc/AAdvantage Loyalty IP Ltd                         | CUSIP: 00253XAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    262500 | PA      | $262544.58    | 0.21%             | 2026-04-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Albion Financing 3 SARL      | AGGREKO HOLDINGS INC                                                    | CUSIP: 01330EAD0<br>LEI: 213800VFJ5CIN2NUQ821 | Long             | LON              | CORP              | US        |    992512 | PA      | $994378.42    | 0.80%             | 2031-05-21      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| AMER AIRLINE 21-1B PTT       | American Airlines 2021-1 Class B Pass Through Trust                     | CUSIP: 02376LAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1095000 | PA      | $1045935.35   | 0.84%             | 2030-07-11      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| PARADIGM PRNT/CO-ISSUER      | Paradigm Parent LLC and Paradigm Parent CO-Issuer Inc                   | CUSIP: 69902PAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $971250.00    | 0.78%             | 2032-04-17      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| BOYD GAMING CORP             | Boyd Gaming Corp                                                        | CUSIP: 103304BV2<br>LEI: 254900787YGRYS2A1Z35 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1446244.95   | 1.17%             | 2031-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP        | Tenet Healthcare Corp                                                   | CUSIP: 88033GDB3<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |   1400000 | PA      | $1396688.44   | 1.13%             | 2027-11-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE CORP        | Freedom Mortgage Corp                                                   | CUSIP: 35640YAL1<br>LEI: 549300LYRWPSYPK6S325 | Long             | DBT              | CORP              | US        |   1050000 | PA      | $1171351.00   | 0.94%             | 2030-10-01      | Fixed         | 12.25%                | No            |                  2 | On Loan: No      |
| CLEAN HARBORS INC            | Clean Harbors Inc                                                       | CUSIP: 184496AQ0<br>LEI: 5493000SJVZVZJKHJF48 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1535875.50   | 1.24%             | 2031-02-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| BUILDERS FIRSTSOURCE INC     | Builders FirstSource Inc                                                | CUSIP: 12008RAT4<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1566198.81   | 1.26%             | 2035-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| WEATHERFORD INTERNATIONA     | Weatherford International Ltd                                           | CUSIP: 947075AW7<br>LEI: 549300A2JKMG5PGOGF82 | Long             | DBT              | CORP              | BM        |   1000000 | PA      | $1000771.22   | 0.81%             | 2033-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CP ATLAS BUYER INC           | CP Atlas Buyer Inc                                                      | CUSIP: 12597YAC3<br>LEI: 2549006ZZ07G0NDDCR36 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1047190.00   | 0.84%             | 2030-07-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| BAYTEX ENERGY CORP           | Baytex Energy Corp                                                      | CUSIP: 07317QAJ4<br>LEI: 549300R5LTV2H7I1I079 | Long             | DBT              | CORP              | CA        |   1000000 | PA      | $1027596.00   | 0.83%             | 2030-04-30      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| BATH & BODY WORKS INC        | Bath & Body Works Inc                                                   | CUSIP: 501797AL8<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1560019.50   | 1.26%             | 2035-11-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| WILLIAMS SCOTSMAN INC        | Williams Scotsman Inc                                                   | CUSIP: 96950GAE2<br>LEI: 549300DAKDS8SCO1OT57 | Long             | DBT              | CORP              | US        |   1350000 | PA      | $1327251.15   | 1.07%             | 2028-08-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP                    | Sunoco LP                                                               | CUSIP: 86765KAG4<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $991366.56    | 0.80%             | 2034-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| WESCO DISTRIBUTION INC       | WESCO Distribution Inc                                                  | CUSIP: 95081QAP9<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1215609.60   | 0.98%             | 2028-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| EXPAND ENERGY CORP           | Expand Energy Corp                                                      | CUSIP: 165167DG9<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |   1850000 | PA      | $1856909.25   | 1.50%             | 2029-02-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| MPT OPER PARTNERSP/FINL      | MPT Operating Partnership LP / MPT Finance Corp                         | CUSIP: 55342UAQ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1062636.87   | 0.86%             | 2032-02-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| METHANEX US OPERATIONS       | Methanex US Operations Inc                                              | CUSIP: 59151LAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1526257.50   | 1.23%             | 2032-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| SURGERY CENTER HOLDINGS      | Surgery Center Holdings Inc                                             | CUSIP: 86881WAF9<br>LEI: 54930054EVI5HWPPW113 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1540762.50   | 1.24%             | 2032-04-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| SMURFIT-STONE ESCROW EQUITY  | SMURFIT-STONE ESCROW EQUITY                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |       725 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| GO DADDY OPCO/FINCO          | Go Daddy Operating Co LLC / GD Finance Co Inc                           | CUSIP: 38016LAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1400000 | PA      | $1397526.48   | 1.13%             | 2027-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MACY'S RETAIL HLDGS LLC      | Macy's Retail Holdings LLC                                              | CUSIP: 55616XAM9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1095470.63   | 0.88%             | 2034-12-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| MILLROSE PROPERTIES INC      | Millrose Properties Inc                                                 | CUSIP: 601137AB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1002307.90   | 0.81%             | 2032-09-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| GOODYEAR TIRE & RUBBER       | Goodyear Tire & Rubber Co/The                                           | CUSIP: 382550BS9<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1014063.00   | 0.82%             | 2030-07-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP       | CCO Holdings LLC / CCO Holdings Capital Corp                            | CUSIP: 1248EPBT9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1675000 | PA      | $1663092.86   | 1.34%             | 2027-05-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| LIGHTNING POWER LLC          | Lightning Power LLC                                                     | CUSIP: 53229KAA7<br>LEI: 254900BWCHJ03XRL8K59 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1058822.00   | 0.85%             | 2032-08-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-24

**Name of Applicant:** Penn Series Funds Inc

**Signature:** Steven Viola

**Name of Signer:** Steven Viola

**Title:** Treasurer