# EDGAR Filing Document

**Accession Number:** 0000702340
**File Stem:** 0000940400-25-009784
**Filing Date:** 2025-11
**Character Count:** 146006
**Document Hash:** 36ad9776e589774568439128b1c6733e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-009784.hdr.sgml**: 20251124

**ACCESSION NUMBER**: 0000940400-25-009784

**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:** 251513142

**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

### Flexibly Managed Fund (Series ID: S000006734)

| Class ID   | Class Name            | Ticker Symbol   |
|:---|:---|:---|
| C000018297 | Flexibly Managed Fund |  |

## Nport-Ex

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

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

#### Flexibly Managed Fund<br>

---

| | | |
|:---|:---|:---|
|  | **Par<br> (000)** | &nbsp;&nbsp;**Value†** |
| **ASSET BACKED SECURITIES — 0.1%** | **ASSET BACKED SECURITIES — 0.1%** | **ASSET BACKED SECURITIES — 0.1%** |
| Domino's Pizza Master Issuer LLC, |  |  |
| &nbsp;&nbsp;&nbsp;Series 2017-1A Class A23, 144A<br> 4.118%, 07/25/47@ | $2751 | &nbsp;&nbsp;$2733578 |
| &nbsp;&nbsp;&nbsp;Series 2019-1A Class A2, 144A<br> 3.668%, 10/25/49@ | &nbsp;&nbsp;&nbsp;2127 | &nbsp;&nbsp;&nbsp;&nbsp;2045796 |
| **TOTAL ASSET BACKED SECURITIES<br> (Cost $4,858,015)** | **TOTAL ASSET BACKED SECURITIES<br> (Cost $4,858,015)** | &nbsp;&nbsp;&nbsp;**4779374** |

---

---

| | | |
|:---|:---|:---|
|  | **Number of<br> Shares** |  |
| **COMMON STOCKS — 63.5%** | **COMMON STOCKS — 63.5%** | **COMMON STOCKS — 63.5%** |
| **Aerospace & Defense — 0.4%** | **Aerospace & Defense — 0.4%** | **Aerospace & Defense — 0.4%** |
| Lockheed Martin Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40703 | &nbsp;&nbsp;&nbsp;&nbsp;20319345 |
| **Auto Parts & Equipment — 1.2%** | **Auto Parts & Equipment — 1.2%** | **Auto Parts & Equipment — 1.2%** |
| Aurora Innovation, Inc.\* | 11682036 | &nbsp;&nbsp;&nbsp;&nbsp;62966174 |
| **Biotechnology — 0.7%** | **Biotechnology — 0.7%** | **Biotechnology — 0.7%** |
| Arcellx, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98500 | &nbsp;&nbsp;&nbsp;&nbsp;8086850 |
| BioNTech S.E., ADR\* | &nbsp;&nbsp;&nbsp;&nbsp;128673 | &nbsp;&nbsp;&nbsp;&nbsp;12689731 |
| Cytokinetics, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;189560 | &nbsp;&nbsp;&nbsp;&nbsp;10418218 |
| Ionis Pharmaceuticals, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60528 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3959742 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;35154541 |
| **Building Materials — 0.5%** | **Building Materials — 0.5%** | **Building Materials — 0.5%** |
| Vulcan Materials Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79744 | &nbsp;&nbsp;&nbsp;24530849 |
| **Computers — 4.4%** | **Computers — 4.4%** | **Computers — 4.4%** |
| Apple, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;891001 | &nbsp;&nbsp;226875585 |
| **Diversified Financial Services — 2.1%** | **Diversified Financial Services — 2.1%** | **Diversified Financial Services — 2.1%** |
| Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92167 | &nbsp;&nbsp;&nbsp;&nbsp;52425511 |
| Visa, Inc., Class A†† | &nbsp;&nbsp;&nbsp;&nbsp;169476 | &nbsp;&nbsp;&nbsp;&nbsp;57855717 |
|  |  | &nbsp;&nbsp;&nbsp;110281228 |
| **Electric — 5.3%** | **Electric — 5.3%** | **Electric — 5.3%** |
| Ameren Corp. | &nbsp;&nbsp;&nbsp;&nbsp;726108 | &nbsp;&nbsp;&nbsp;&nbsp;75791153 |
| CenterPoint Energy, Inc. | &nbsp;&nbsp;2421085 | &nbsp;&nbsp;&nbsp;93938098 |
| DTE Energy Co. | &nbsp;&nbsp;&nbsp;&nbsp;287600 | &nbsp;&nbsp;&nbsp;40675268 |
| PPL Corp. | &nbsp;&nbsp;&nbsp;1668715 | &nbsp;&nbsp;&nbsp;62009449 |
|  |  | &nbsp;&nbsp;272413968 |
| **Electronics — 0.7%** | **Electronics — 0.7%** | **Electronics — 0.7%** |
| Amphenol Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;306667 | &nbsp;&nbsp;&nbsp;&nbsp;37950041 |
| **Environmental Control — 0.3%** | **Environmental Control — 0.3%** | **Environmental Control — 0.3%** |
| Veralto Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17391716 |
| **Gas — 1.7%** | **Gas — 1.7%** | **Gas — 1.7%** |
| NiSource, Inc. | &nbsp;&nbsp;2037498 | &nbsp;&nbsp;&nbsp;&nbsp;88223663 |
| **Healthcare Products — 5.6%** | **Healthcare Products — 5.6%** | **Healthcare Products — 5.6%** |
| Abbott Laboratories | &nbsp;&nbsp;&nbsp;&nbsp;850825 | &nbsp;&nbsp;&nbsp;113959501 |
| Danaher Corp. | &nbsp;&nbsp;&nbsp;&nbsp;303947 | &nbsp;&nbsp;&nbsp;&nbsp;60260532 |
| GE HealthCare Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4303230 |
| Hologic, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;142765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9635210 |
| Revvity, Inc. | &nbsp;&nbsp;&nbsp;1109953 | &nbsp;&nbsp;&nbsp;&nbsp;97287380 |
|  |  | &nbsp;&nbsp;285445853 |

---

---

| | | |
|:---|:---|:---|
|  | **Number of<br> Shares** | &nbsp;&nbsp;**Value†** |
| **Healthcare Services — 1.5%** | **Healthcare Services — 1.5%** | **Healthcare Services — 1.5%** |
| The Cigna Group. | &nbsp;&nbsp;&nbsp;&nbsp;177471 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$51156016 |
| UnitedHealth Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78513 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27110539 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78266555 |
| **Insurance — 1.7%** | **Insurance — 1.7%** | **Insurance — 1.7%** |
| Arthur J. Gallagher & Co. | &nbsp;&nbsp;&nbsp;&nbsp;116783 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36172366 |
| Willis Towers Watson PLC | &nbsp;&nbsp;&nbsp;&nbsp;153811 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53134010 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89306376 |
| **Internet — 8.5%** | **Internet — 8.5%** | **Internet — 8.5%** |
| Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;440383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107057107 |
| Amazon.com, Inc.\*,†† | &nbsp;&nbsp;&nbsp;974638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214001266 |
| Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;157492 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115658975 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;436717348 |
| **Machinery — Diversified — 1.0%** | **Machinery — Diversified — 1.0%** | **Machinery — Diversified — 1.0%** |
| Ingersoll Rand, Inc. | &nbsp;&nbsp;&nbsp;429097 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35451994 |
| Otis Worldwide Corp. | &nbsp;&nbsp;&nbsp;&nbsp;152122 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13908515 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49360509 |
| **Oil & Gas — 1.2%** | **Oil & Gas — 1.2%** | **Oil & Gas — 1.2%** |
| Canadian Natural Resources Ltd. | 1944718 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62153187 |
| **Pharmaceuticals — 5.6%** | **Pharmaceuticals — 5.6%** | **Pharmaceuticals — 5.6%** |
| Becton Dickinson & Co.†† | &nbsp;&nbsp;&nbsp;778989 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145803371 |
| Cencora, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;122391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38250859 |
| Eli Lilly & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38989300 |
| McKesson Corp. | &nbsp;&nbsp;&nbsp;&nbsp;75824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58577073 |
| Vaxcyte, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;118983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4285768 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285906371 |
| **Retail — 2.9%** | **Retail — 2.9%** | **Retail — 2.9%** |
| Chipotle Mexican Grill, Inc.\*,†† | &nbsp;&nbsp;&nbsp;947043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37114615 |
| Starbucks Corp.†† | &nbsp;&nbsp;&nbsp;564257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47736142 |
| Yum! Brands, Inc.†† | &nbsp;&nbsp;&nbsp;427746 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65017392 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149868149 |
| **Semiconductors — 7.7%** | **Semiconductors — 7.7%** | **Semiconductors — 7.7%** |
| Advanced Micro Devices, Inc.\*,†† | &nbsp;&nbsp;&nbsp;&nbsp;478163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77361992 |
| Broadcom, Inc. | &nbsp;&nbsp;&nbsp;145340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47949119 |
| NVIDIA Corp. | 1390255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;259393778 |
| Taiwan Semiconductor Manufacturing Co., Ltd., ADR | &nbsp;&nbsp;&nbsp;&nbsp;34000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9495860 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;394200749 |
| **Software — 10.5%** | **Software — 10.5%** | **Software — 10.5%** |
| Intuit, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19723 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13469034 |
| Microsoft Corp.†† | &nbsp;&nbsp;&nbsp;&nbsp;557423 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;288717243 |
| PTC, Inc.\* | &nbsp;&nbsp;&nbsp;528323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107260136 |
| Roper Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;135757 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67700658 |
| Salesforce, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;63803 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15121311 |
| Workday, Inc., Class A\* | &nbsp;&nbsp;&nbsp;&nbsp;192385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46312841 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;538581223 |
| **TOTAL COMMON STOCKS<br> (Cost $2,839,307,293)** | **TOTAL COMMON STOCKS<br> (Cost $2,839,307,293)** | &nbsp;&nbsp;&nbsp;**3265913430** |

---

------

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

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

#### Flexibly Managed Fund<br>

---

| | | |
|:---|:---|:---|
|  | **Number of<br> Shares** | &nbsp;&nbsp;**Value†** |
| **PREFERRED STOCKS — 0.5%** | **PREFERRED STOCKS — 0.5%** | **PREFERRED STOCKS — 0.5%** |
| **Auto Manufacturers — 0.5%** | **Auto Manufacturers — 0.5%** | **Auto Manufacturers — 0.5%** |
| Waymo LLC, Series A-2, CONV(1),\*,# | 245568 | &nbsp;&nbsp;$26017929 |
| **Electric — 0.0%** | **Electric — 0.0%** | **Electric — 0.0%** |
| CMS Energy Corp., 2078\* | &nbsp;&nbsp;&nbsp;&nbsp;17647 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;419646 |
| **TOTAL PREFERRED STOCKS<br> (Cost $21,527,412)** |  | &nbsp;&nbsp;&nbsp;&nbsp;**26437575** |

---

---

| | | |
|:---|:---|:---|
|  | **Par<br> (000)** |  |
| **CORPORATE BONDS — 7.6%** | **CORPORATE BONDS — 7.6%** | **CORPORATE BONDS — 7.6%** |
| **Advertising — 0.1%** | **Advertising — 0.1%** | **Advertising — 0.1%** |
| Lamar Media Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.750%, 02/15/28 | &nbsp;&nbsp;$2796 | &nbsp;&nbsp;&nbsp;&nbsp;2719594 |
| &nbsp;&nbsp;&nbsp;4.875%, 01/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;528 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;523268 |
| &nbsp;&nbsp;&nbsp;3.625%, 01/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;404806 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;3647668 |
| **Aerospace & Defense — 1.3%** | **Aerospace & Defense — 1.3%** | **Aerospace & Defense — 1.3%** |
| TransDigm, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;144A, 6.750%, 08/15/28@ | &nbsp;&nbsp;&nbsp;&nbsp;2152 | &nbsp;&nbsp;&nbsp;&nbsp;2193073 |
| &nbsp;&nbsp;&nbsp;4.625%, 01/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;3763 | &nbsp;&nbsp;&nbsp;&nbsp;3687640 |
| &nbsp;&nbsp;&nbsp;144A, 6.375%, 03/01/29@ | &nbsp;&nbsp;&nbsp;11499 | &nbsp;&nbsp;&nbsp;11755857 |
| &nbsp;&nbsp;&nbsp;144A, 7.125%, 12/01/31@ | &nbsp;&nbsp;&nbsp;&nbsp;9033 | &nbsp;&nbsp;&nbsp;&nbsp;9414643 |
| &nbsp;&nbsp;&nbsp;144A, 6.625%, 03/01/32@ | &nbsp;&nbsp;&nbsp;16679 | &nbsp;&nbsp;&nbsp;17169643 |
| &nbsp;&nbsp;&nbsp;144A, 6.375%, 05/31/33@ | &nbsp;&nbsp;&nbsp;11680 | &nbsp;&nbsp;&nbsp;11799276 |
| &nbsp;&nbsp;&nbsp;144A, 6.250%, 01/31/34@ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;904140 |
| &nbsp;&nbsp;&nbsp;144A, 6.750%, 01/31/34@ | &nbsp;&nbsp;&nbsp;&nbsp;8169 | &nbsp;&nbsp;&nbsp;&nbsp;8446231 |
|  |  | &nbsp;&nbsp;65370503 |
| **Commercial Services — 0.2%** | **Commercial Services — 0.2%** | **Commercial Services — 0.2%** |
| Korn Ferry, 144A<br> 4.625%, 12/15/27@ | &nbsp;&nbsp;&nbsp;&nbsp;3386 | &nbsp;&nbsp;&nbsp;&nbsp;3362673 |
| Service Corp. International |  |  |
| &nbsp;&nbsp;&nbsp;4.625%, 12/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;479 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476650 |
| &nbsp;&nbsp;&nbsp;3.375%, 08/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;2557 | &nbsp;&nbsp;&nbsp;&nbsp;2370950 |
| &nbsp;&nbsp;&nbsp;5.750%, 10/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;2818 | &nbsp;&nbsp;&nbsp;2854880 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;9065153 |
| **Computers — 0.1%** | **Computers — 0.1%** | **Computers — 0.1%** |
| Booz Allen Hamilton, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;144A, 4.000%, 07/01/29@ | &nbsp;&nbsp;&nbsp;&nbsp;2245 | &nbsp;&nbsp;&nbsp;&nbsp;2191103 |
| &nbsp;&nbsp;&nbsp;5.950%, 08/04/33 | &nbsp;&nbsp;&nbsp;&nbsp;2469 | &nbsp;&nbsp;&nbsp;&nbsp;2592712 |
| Crowdstrike Holdings, Inc.<br> 3.000%, 02/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;572 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;544809 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;5328624 |
| **Electric — 0.1%** | **Electric — 0.1%** | **Electric — 0.1%** |
| CenterPoint Energy, Inc. (UST Yield Curve CMT 5 Yr + 2.223%)<br> 5.950%, 04/01/56 | &nbsp;&nbsp;&nbsp;&nbsp;5158 | &nbsp;&nbsp;&nbsp;&nbsp;5158000 |
| **Entertainment — 0.6%** | **Entertainment — 0.6%** | **Entertainment — 0.6%** |
| Six Flags Entertainment Corp. |  |  |
| &nbsp;&nbsp;&nbsp;144A, 5.500%, 04/15/27@ | &nbsp;&nbsp;&nbsp;&nbsp;7044 | &nbsp;&nbsp;&nbsp;&nbsp;7031862 |
| &nbsp;&nbsp;&nbsp;144A, 7.250%, 05/15/31@ | &nbsp;&nbsp;&nbsp;&nbsp;2592 | &nbsp;&nbsp;&nbsp;&nbsp;2592710 |

---

---

| | | |
|:---|:---|:---|
|  | **Par<br> (000)** | &nbsp;&nbsp;**Value†** |
| **Entertainment — (continued)** | **Entertainment — (continued)** | **Entertainment — (continued)** |
| Six Flags Entertainment Corp./Canada's Wonderland Co./Magnum Management Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.375%, 04/15/27 | &nbsp;&nbsp;$8262 | &nbsp;&nbsp;&nbsp;$8240273 |
| &nbsp;&nbsp;&nbsp;6.500%, 10/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;5484 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5508415 |
| &nbsp;&nbsp;&nbsp;5.250%, 07/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;2749 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2658529 |
| Vail Resorts, Inc., 144A<br> 6.500%, 05/15/32@ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3481 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600012 |
| VAIL RESORTS, Inc., 144A<br> 5.625%, 07/15/30@ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1564719 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31196520 |
| **Healthcare Products — 0.2%** | **Healthcare Products — 0.2%** | **Healthcare Products — 0.2%** |
| Avantor Funding, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;144A, 4.625%, 07/15/28@ | &nbsp;&nbsp;&nbsp;&nbsp;5491 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5401191 |
| &nbsp;&nbsp;&nbsp;144A, 3.875%, 11/01/29@ | &nbsp;&nbsp;&nbsp;&nbsp;3506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3334078 |
| Hologic, Inc., 144A<br> 3.250%, 02/15/29@ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2453267 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11188536 |
| **Healthcare Services — 0.2%** | **Healthcare Services — 0.2%** | **Healthcare Services — 0.2%** |
| IQVIA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;144A, 5.000%, 05/15/27@ | &nbsp;&nbsp;&nbsp;&nbsp;4372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4359857 |
| &nbsp;&nbsp;&nbsp;144A, 6.500%, 05/15/30@ | &nbsp;&nbsp;&nbsp;&nbsp;2589 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2675848 |
| Surgery Center Holdings, Inc., 144A<br> 7.250%, 04/15/32@ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2275193 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9310898 |
| **Insurance — 2.0%** | **Insurance — 2.0%** | **Insurance — 2.0%** |
| AmWINS Group, Inc., 144A<br> 6.375%, 02/15/29@ | &nbsp;&nbsp;&nbsp;&nbsp;3277 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3340698 |
| Broadstreet Partners Group LLC, 144A<br> 5.875%, 04/15/29@ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8348850 |
| HUB International Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;144A, 5.625%, 12/01/29@ | &nbsp;&nbsp;&nbsp;&nbsp;4835 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4829847 |
| &nbsp;&nbsp;&nbsp;144A, 7.250%, 06/15/30@ | &nbsp;&nbsp;&nbsp;41940 | &nbsp;&nbsp;&nbsp;&nbsp;43725638 |
| &nbsp;&nbsp;&nbsp;144A, 7.375%, 01/31/32@ | &nbsp;&nbsp;&nbsp;26096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27175748 |
| Ryan Specialty LLC |  |  |
| &nbsp;&nbsp;&nbsp;144A, 4.375%, 02/01/30@ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2064550 |
| &nbsp;&nbsp;&nbsp;144A, 5.875%, 08/01/32@ | &nbsp;&nbsp;&nbsp;&nbsp;5209 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5269372 |
| USI, Inc., 144A<br> 7.500%, 01/15/32@ | &nbsp;&nbsp;&nbsp;&nbsp;8714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9127715 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;103882418 |
| **Leisure Time — 0.0%** | **Leisure Time — 0.0%** | **Leisure Time — 0.0%** |
| Life Time, Inc., 144A<br> 6.000%, 11/15/31@ | &nbsp;&nbsp;&nbsp;&nbsp;2486 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2523665 |
| **Lodging — 1.1%** | **Lodging — 1.1%** | **Lodging — 1.1%** |
| Hilton Domestic Operating Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;144A, 5.750%, 05/01/28@ | &nbsp;&nbsp;&nbsp;&nbsp;10025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10037241 |
| &nbsp;&nbsp;&nbsp;144A, 5.875%, 04/01/29@ | &nbsp;&nbsp;&nbsp;&nbsp;3928 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4014004 |
| &nbsp;&nbsp;&nbsp;144A, 3.750%, 05/01/29@ | &nbsp;&nbsp;&nbsp;&nbsp;8034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7727748 |
| &nbsp;&nbsp;&nbsp;4.875%, 01/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7217 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7178870 |
| &nbsp;&nbsp;&nbsp;144A, 4.000%, 05/01/31@ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7116635 |
| &nbsp;&nbsp;&nbsp;144A, 3.625%, 02/15/32@ | &nbsp;&nbsp;&nbsp;&nbsp;9652 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8833470 |
| &nbsp;&nbsp;&nbsp;144A, 5.750%, 09/15/33@ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6202470 |

---

------

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

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

#### Flexibly Managed Fund<br>

---

| | | |
|:---|:---|:---|
|  | **Par<br> (000)** | &nbsp;&nbsp;**Value†** |
| **CORPORATE BONDS — (continued)** | **CORPORATE BONDS — (continued)** | **CORPORATE BONDS — (continued)** |
| **Lodging — (continued)** | **Lodging — (continued)** | **Lodging — (continued)** |
| Hilton Worldwide Finance LLC/Hilton Worldwide Finance Corp.<br> 4.875%, 04/01/27 | &nbsp;&nbsp;$3472 | &nbsp;&nbsp;&nbsp;&nbsp;$3469593 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54580031 |
| **Media — 0.2%** | **Media — 0.2%** | **Media — 0.2%** |
| CCO Holdings LLC/CCO Holdings Capital Corp., 144A<br> 5.125%, 05/01/27@ | &nbsp;&nbsp;&nbsp;&nbsp;9067 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9002545 |
| **Real Estate Investment Trusts — 0.3%** | **Real Estate Investment Trusts — 0.3%** | **Real Estate Investment Trusts — 0.3%** |
| SBA Communications Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 02/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;8504 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8376035 |
| &nbsp;&nbsp;&nbsp;3.125%, 02/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;9983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9371928 |
| SBA Tower Trust, 144A<br> 6.599%, 11/15/52@ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262890 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18010853 |
| **Retail — 0.8%** | **Retail — 0.8%** | **Retail — 0.8%** |
| KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell of America LLC, 144A<br> 4.750%, 06/01/27@ | &nbsp;&nbsp;&nbsp;&nbsp;8757 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8724393 |
| Yum! Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;144A, 4.750%, 01/15/30@ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4087485 |
| &nbsp;&nbsp;&nbsp;3.625%, 03/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;4955 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4626514 |
| &nbsp;&nbsp;&nbsp;4.625%, 01/31/32 | &nbsp;&nbsp;&nbsp;&nbsp;8583 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8338870 |
| &nbsp;&nbsp;&nbsp;5.375%, 04/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;7196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7223366 |
| &nbsp;&nbsp;&nbsp;6.875%, 11/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;3145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3489975 |
| &nbsp;&nbsp;&nbsp;5.350%, 11/01/43 | &nbsp;&nbsp;&nbsp;&nbsp;7809 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7537911 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44028514 |
| **Software — 0.4%** | **Software — 0.4%** | **Software — 0.4%** |
| Capstone Borrower, Inc., 144A<br> 8.000%, 06/15/30@ | &nbsp;&nbsp;&nbsp;&nbsp;2323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2429558 |
| Ellucian Holdings, Inc., 144A<br> 6.500%, 12/01/29@ | &nbsp;&nbsp;&nbsp;&nbsp;3541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3597015 |
| Fair Isaac Corp., 144A<br> 6.000%, 05/15/33@ | &nbsp;&nbsp;&nbsp;&nbsp;3576 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3620590 |
| MSCI, Inc.<br> 5.250%, 09/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;6771 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6828752 |
| PTC, Inc., 144A<br> 4.000%, 02/15/28@ | &nbsp;&nbsp;&nbsp;&nbsp;3591 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3515461 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19991376 |
| **TOTAL CORPORATE BONDS<br> (Cost $382,230,662)** |  | &nbsp;&nbsp;&nbsp;&nbsp;**392285304** |
| **LOAN AGREEMENTS — 9.9%** | **LOAN AGREEMENTS — 9.9%** | **LOAN AGREEMENTS — 9.9%** |
| **Aerospace & Defense — 0.5%** | **Aerospace & Defense — 0.5%** | **Aerospace & Defense — 0.5%** |
| TransDigm, Inc. (3 M SOFR + 2.250%)<br> 6.252%, 03/22/30• | &nbsp;&nbsp;&nbsp;23244 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23215980 |

---

---

| | | |
|:---|:---|:---|
|  | **Par<br> (000)** | &nbsp;&nbsp;**Value†** |
| **Apparel — 0.3%** | **Apparel — 0.3%** | **Apparel — 0.3%** |
| Varsity Brands, Inc. (1 M SOFR + 3.000%)<br> 7.026%, 08/26/31• | &nbsp;&nbsp;$14114 | &nbsp;&nbsp;&nbsp;$14106571 |
| **Commercial Services — 0.1%** | **Commercial Services — 0.1%** | **Commercial Services — 0.1%** |
| Mister Car Wash Holdings, Inc. (1 M SOFR + 2.500%)<br> 6.663%, 03/27/31• | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2421 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2422890 |
| Trans Union LLC (1 M SOFR + 1.850%)<br> 6.013%, 11/16/26• | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1012 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1012855 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3435745 |
| **Diversified Financial Services — 0.4%** | **Diversified Financial Services — 0.4%** | **Diversified Financial Services — 0.4%** |
| CPI Holdco B, LLC (1 M SOFR + 2.000%)<br> 6.163%, 05/17/31• | &nbsp;&nbsp;&nbsp;&nbsp;13358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13341569 |
| Mariner Wealth Advisors LLC (3 M SOFR + 2.500%)<br> 6.663%, 12/31/30• | &nbsp;&nbsp;&nbsp;&nbsp;7525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7536602 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20878171 |
| **Environmental Control — 0.8%** | **Environmental Control — 0.8%** | **Environmental Control — 0.8%** |
| Filtration Group Corp. |  |  |
| &nbsp;&nbsp;&nbsp;(1 M SOFR + 3.500%), 5.413%, 10/21/28• | &nbsp;&nbsp;&nbsp;&nbsp;6874 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8136028 |
| &nbsp;&nbsp;&nbsp;(1 M SOFR + 2.750%), 6.913%, 10/23/28• | &nbsp;&nbsp;&nbsp;&nbsp;31834 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31953828 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;40089856 |
| **Healthcare Services — 0.4%** | **Healthcare Services — 0.4%** | **Healthcare Services — 0.4%** |
| Loire US Holdco 1, Inc. (3 M SOFR + 4.000%)<br> 8.308%, 01/28/30• | &nbsp;&nbsp;&nbsp;&nbsp;19513 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19522530 |
| **Insurance — 3.2%** | **Insurance — 3.2%** | **Insurance — 3.2%** |
| AmWINS Group, Inc. (3 M SOFR + 2.250%)<br> 6.252%, 01/30/32• | &nbsp;&nbsp;&nbsp;&nbsp;33714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33691618 |
| Broadstreet Partners, Inc. (1 M SOFR + 2.750%)<br> 6.913%, 06/13/31• | &nbsp;&nbsp;&nbsp;37506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37536207 |
| HUB International Ltd. (3 M SOFR + 2.250%)<br> 6.575%, 06/20/30• | &nbsp;&nbsp;&nbsp;68268 | &nbsp;&nbsp;&nbsp;&nbsp;68350929 |
| Ryan Specialty Group LLC (1 M SOFR + 2.000%)<br> 6.163%, 09/15/31• | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;619 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;619248 |
| USI, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;(3 M SOFR + 2.250%), 6.252%, 11/21/29• | &nbsp;&nbsp;&nbsp;&nbsp;13147 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13129153 |
| &nbsp;&nbsp;&nbsp;(3 M SOFR + 2.250%), 6.252%, 09/27/30• | &nbsp;&nbsp;&nbsp;&nbsp;13291 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13269723 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;166596878 |

---

------

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

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

#### Flexibly Managed Fund<br>

---

| | | |
|:---|:---|:---|
|  | **Par<br> (000)** | &nbsp;&nbsp;**Value†** |
| **LOAN AGREEMENTS — (continued)** | **LOAN AGREEMENTS — (continued)** | **LOAN AGREEMENTS — (continued)** |
| **Lodging — 0.4%** | **Lodging — 0.4%** | **Lodging — 0.4%** |
| Hilton Worldwide Finance LLC (1 M SOFR + 1.750%)<br> 5.908%, 11/08/30• | $19717 | &nbsp;&nbsp;$19729674 |
| Wyndham Hotels & Resorts, Inc. (1 M SOFR + 1.750%)<br> 5.913%, 05/24/30• | &nbsp;&nbsp;&nbsp;&nbsp;2883 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2891497 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22621171 |
| **Real Estate Investment Trusts — 0.3%** | **Real Estate Investment Trusts — 0.3%** | **Real Estate Investment Trusts — 0.3%** |
| SBA Senior Finance II LLC (1 M SOFR + 1.750%)<br> 5.920%, 01/25/31• | &nbsp;&nbsp;&nbsp;13024 | &nbsp;&nbsp;&nbsp;&nbsp;13062959 |
| **Semiconductors — 0.4%** | **Semiconductors — 0.4%** | **Semiconductors — 0.4%** |
| Icon Parent I, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;(3 M SOFR + 2.750%), 6.753%, 11/13/31• | &nbsp;&nbsp;&nbsp;&nbsp;18145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18113153 |
| &nbsp;&nbsp;&nbsp;(6 M SOFR + 5.000%), 9.205%, 11/12/32• | &nbsp;&nbsp;&nbsp;&nbsp;4676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4727459 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;22840612 |
| **Software — 3.1%** | **Software — 3.1%** | **Software — 3.1%** |
| Applied Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;(3 M SOFR + 2.250%), 6.252%, 02/24/31• | &nbsp;&nbsp;&nbsp;67763 | &nbsp;&nbsp;&nbsp;&nbsp;67781578 |
| &nbsp;&nbsp;&nbsp;(3 M SOFR + 4.500%), 8.502%, 02/23/32• | &nbsp;&nbsp;&nbsp;&nbsp;9157 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9353628 |
| Ascend Learning LLC (1 M SOFR + 3.000%)<br> 7.163%, 12/11/28• | &nbsp;&nbsp;&nbsp;12453 | &nbsp;&nbsp;&nbsp;&nbsp;12434880 |
| AthenaHealth Group, Inc. (1 M SOFR + 2.750%)<br> 6.913%, 02/15/29• | &nbsp;&nbsp;&nbsp;&nbsp;7517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7498432 |
| Azalea TopCo, Inc. (1 M SOFR + 3.000%)<br> 7.163%, 04/30/31• | &nbsp;&nbsp;&nbsp;&nbsp;1558 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1553641 |
| Bending Spoons US, Inc.<br> 0.000%, 03/07/31× | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167916 |
| CCC Intelligent Solutions, Inc. (1 M SOFR + 2.000%)<br> 6.163%, 01/23/32• | &nbsp;&nbsp;&nbsp;&nbsp;4484 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4476731 |
| ELLUCIAN HOLDING, Inc. (1 M SOFR + 2.750%)<br> 6.913%, 10/09/29• | &nbsp;&nbsp;&nbsp;10805 | &nbsp;&nbsp;&nbsp;&nbsp;10797861 |
| Epicor Software Corp. (1 M SOFR + 2.500%)<br> 6.663%, 05/30/31• | &nbsp;&nbsp;&nbsp;12970 | &nbsp;&nbsp;&nbsp;&nbsp;12980470 |
| Informatica LLC (1 M SOFR + 2.250%)<br> 6.413%, 10/27/28• | &nbsp;&nbsp;&nbsp;&nbsp;4414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4419288 |
| Quartz AcquireCo LLC (3 M SOFR + 2.250%)<br> 6.252%, 06/28/30• | &nbsp;&nbsp;&nbsp;&nbsp;3184 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3169913 |
| Storable, Inc. (1 M SOFR + 3.250%)<br> 7.413%, 04/17/31• | &nbsp;&nbsp;&nbsp;&nbsp;8524 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8539729 |

---

---

| | | |
|:---|:---|:---|
|  | **Par<br> (000)** | &nbsp;&nbsp;**Value†** |
| **Software — (continued)** | **Software — (continued)** | **Software — (continued)** |
| UKG, Inc. (3 M SOFR + 3.000%)<br> 7.320%, 02/10/31• | &nbsp;&nbsp;&nbsp;$15891 | &nbsp;&nbsp;&nbsp;&nbsp;$15870152 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159044219 |
| **TOTAL LOAN AGREEMENTS<br> (Cost $503,995,059)** |  | &nbsp;&nbsp;&nbsp;&nbsp;**505414692** |
| **U.S. TREASURY OBLIGATIONS — 16.6%** | **U.S. TREASURY OBLIGATIONS — 16.6%** | **U.S. TREASURY OBLIGATIONS — 16.6%** |
| U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 04/30/30 | &nbsp;&nbsp;&nbsp;&nbsp;83160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83705738 |
| &nbsp;&nbsp;&nbsp;4.000%, 05/31/30 | &nbsp;&nbsp;&nbsp;178669 | &nbsp;&nbsp;&nbsp;&nbsp;180804652 |
| &nbsp;&nbsp;&nbsp;3.875%, 06/30/30 | &nbsp;&nbsp;&nbsp;173976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175083738 |
| &nbsp;&nbsp;&nbsp;3.875%, 07/31/30 | &nbsp;&nbsp;&nbsp;170750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171817187 |
| &nbsp;&nbsp;&nbsp;3.625%, 08/31/30 | &nbsp;&nbsp;&nbsp;&nbsp;85073 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84660530 |
| &nbsp;&nbsp;&nbsp;4.000%, 06/30/32 | &nbsp;&nbsp;&nbsp;&nbsp;116227 | &nbsp;&nbsp;&nbsp;&nbsp;116848996 |
| &nbsp;&nbsp;&nbsp;4.000%, 07/31/32 | &nbsp;&nbsp;&nbsp;&nbsp;39678 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39870190 |
| **TOTAL U.S. TREASURY OBLIGATIONS<br> (Cost $845,871,110)** | **TOTAL U.S. TREASURY OBLIGATIONS<br> (Cost $845,871,110)** | &nbsp;&nbsp;&nbsp;&nbsp;**852791031** |

---

---

| |
|:---|
| **Number of<br> Shares** |
| **SHORT-TERM INVESTMENTS — 1.8%** |

---

---

| | | |
|:---|:---|:---|
| BlackRock Liquidity FedFund - Institutional Shares (seven-day effective yield 4.027%) | 10360849 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10360849 |
| T. Rowe Price Government Reserve Investment Fund (seven-day effective yield 4.180%)\* | 84736803 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84736803 |
| **TOTAL SHORT-TERM INVESTMENTS<br> (Cost $95,097,652)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**95097652** |
| **TOTAL INVESTMENTS — 100.0%<br> (Cost $4,692,887,203)** |  | &nbsp;&nbsp;**$5142719058** |
| **Other Assets & Liabilities — (0.0)%** | **Other Assets & Liabilities — (0.0)%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1742164)** |
| **TOTAL NET ASSETS — 100.0%** |  | &nbsp;&nbsp;**$5140976894** |

---

---

| | | |
|:---|:---|:---|
|  | **Number of<br> Contracts** |  |
| **WRITTEN OPTIONS — (0.3)%** | **WRITTEN OPTIONS — (0.3)%** | **WRITTEN OPTIONS — (0.3)%** |
| Call Options |  |  |
| **TOTAL WRITTEN OPTIONS** |  |  |
| **(See open written options schedule)** | **(See open written options schedule)** | **(See open written options schedule)** |
| &nbsp;&nbsp;&nbsp;**(Premiums $(12123073))** | 15360 | &nbsp;&nbsp;&nbsp;&nbsp;**$(15673749)** |

---

------

---

| | |
|:---|:---|
| † | See Security Valuation Note in the most recent semi-annual or annual report. |
| @ | 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 $292,882,338, which represents 5.7% of the Fund's net assets. |
| \* | Non-income producing security. |

---

------

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

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

#### Flexibly Managed Fund<br>

---

| | |
|:---|:---|
| †† | At September 30, 2025, all or a portion of this security is pledged as collateral for OTC derivatives. |
| (1) | The value of this security was determined using significant unobservable inputs . |
| # | Restricted Security. These investments are in securities not registered under the Securities Act of 1933, as amended, and have certain restrictions on resale which may limit their liquidity. At September 30, 2025, the aggregate value of restricted securities was $26,017,929 which represented 0.5% of the Fund's net assets. The Fund has various registration rights (exercisable under a variety of circumstances) with respect to these securities. |

---

---

| | | | |
|:---|:---|:---|:---|
| **Investment** | **Date of<br> Acquisition** | **Cost** | **Value** |
| Waymo LLC, Series A-2 | 05/08/20 | $21086237 | $26017929 |

---

• 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.

× 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.

---

| |
|:---|
| ADR— American Depositary Receipt. |
| CMT— Constant Maturity Treasury. |
| CONV— Convertible Security. |
| LLC— Limited Liability Company. |
| M— Month. |
| MSCI— Morgan Stanley Capital International. |
| PLC— Public Limited Company. |
| S.E.— Societas Europaea. |
| SOFR— Secured Overnight Financing Rate. |
| UST— US Treasury. |
| Yr— Year. |

---

Open written options contracts held by the Fund at September 30, 2025 are as follows:

---

| |
|:---|
| **Open Written Options** |
| **Over-the-counter** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Call Options** |  |  |  |  |  |
| **Description** | **# of<br> Contracts** | **Notional** | **Exercise<br> Price** | **Expiration<br> Date** | **Value** |
| Abbott Laboratories,<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;493 | $6409000 | $130 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;$(456518) |
| Abbott Laboratories,<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;258 | &nbsp;&nbsp;&nbsp;&nbsp;3612000 | &nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(107070) |
| Abbott Laboratories,<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;244 | &nbsp;&nbsp;&nbsp;&nbsp;3538000 | &nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(59536) |
| Advanced Micro Devices, Inc.,<sup>(2)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;258 | &nbsp;&nbsp;&nbsp;&nbsp;4515000 | &nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(318114) |
| Advanced Micro Devices, Inc.,<sup>(2)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;258 | &nbsp;&nbsp;&nbsp;&nbsp;4644000 | &nbsp;&nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(278640) |
| Alphabet, Inc.,<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;258 | &nbsp;&nbsp;&nbsp;&nbsp;5289000 | &nbsp;&nbsp;&nbsp;&nbsp;205 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1123590) |
| Alphabet, Inc.,<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;258 | &nbsp;&nbsp;&nbsp;&nbsp;5547000 | &nbsp;&nbsp;&nbsp;&nbsp;215 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(915900) |
| Amazon.com, Inc.,<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;258 | &nbsp;&nbsp;&nbsp;&nbsp;6450000 | &nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(148350) |
| Amazon.com, Inc.,<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;258 | &nbsp;&nbsp;&nbsp;&nbsp;6708000 | &nbsp;&nbsp;&nbsp;260 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(101910) |
| Amphenol Corp.,<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;149 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1713500 | &nbsp;&nbsp;&nbsp;&nbsp;115 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(222010) |
| Amphenol Corp.,<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;149 | &nbsp;&nbsp;&nbsp;&nbsp;1788000 | &nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(184760) |
| Apple, Inc.,<sup>(2)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;258 | &nbsp;&nbsp;&nbsp;&nbsp;6063000 | &nbsp;&nbsp;&nbsp;&nbsp;235 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(719820) |
| Apple, Inc.,<sup>(2)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;258 | &nbsp;&nbsp;&nbsp;&nbsp;6321000 | &nbsp;&nbsp;&nbsp;&nbsp;245 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(537930) |
| Canadian Natural Resources Ltd.,<sup>(2)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;776 | &nbsp;&nbsp;&nbsp;&nbsp;2522000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(124160) |
| Canadian Natural Resources Ltd.,<sup>(2)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;776 | &nbsp;&nbsp;&nbsp;&nbsp;2716000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(65960) |
| Cencora, Inc.,<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;&nbsp;&nbsp;4290000 | &nbsp;&nbsp;&nbsp;260 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(927300) |
| Cencora, Inc.,<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;127 | &nbsp;&nbsp;&nbsp;&nbsp;3429000 | &nbsp;&nbsp;&nbsp;&nbsp;270 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(605790) |
| CenterPoint Energy, Inc.,<sup>(1)</sup> | 1304 | &nbsp;&nbsp;&nbsp;&nbsp;4564000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp;12/19/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(560720) |
| Danaher Corp.,<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;207 | &nbsp;&nbsp;&nbsp;&nbsp;4554000 | &nbsp;&nbsp;&nbsp;&nbsp;220 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(117990) |
| Danaher Corp.,<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;288 | &nbsp;&nbsp;&nbsp;&nbsp;9504000 | &nbsp;&nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24480) |
| DTE Energy Co.,<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6191500 | &nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(145180) |
| Eli Lilly & Co.,<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;1700000 | &nbsp;&nbsp;&nbsp;850 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(59000) |
| Eli Lilly & Co.,<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;1780000 | &nbsp;&nbsp;&nbsp;890 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(39300) |

---

------

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

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

#### Flexibly Managed Fund<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Call Options** |  |  |  |  |  |
| **Description** | **# of<br> Contracts** | **Notional** | **Exercise<br> Price** | **Expiration<br> Date** | **Value** |
| GE HealthCare Technologies, Inc.,<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;299 | &nbsp;&nbsp;&nbsp;$2915250 | &nbsp;&nbsp;$98 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(5980) |
| GE HealthCare Technologies, Inc.,<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;274 | &nbsp;&nbsp;&nbsp;&nbsp;2740000 | &nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1370) |
| Ingersoll Rand, Inc.,<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;362 | &nbsp;&nbsp;&nbsp;&nbsp;3439000 | &nbsp;&nbsp;&nbsp;&nbsp;95 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(39820) |
| Ingersoll Rand, Inc.,<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;362 | &nbsp;&nbsp;&nbsp;&nbsp;3620000 | &nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5430) |
| Intuit, Inc.,<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51 | &nbsp;&nbsp;&nbsp;&nbsp;4284000 | &nbsp;&nbsp;&nbsp;840 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23460) |
| Intuit, Inc.,<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51 | &nbsp;&nbsp;&nbsp;&nbsp;4386000 | &nbsp;&nbsp;&nbsp;860 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19380) |
| Lockheed Martin Corp.,<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp;&nbsp;&nbsp;3250000 | &nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(167700) |
| Lockheed Martin Corp.,<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;99 | &nbsp;&nbsp;&nbsp;&nbsp;5148000 | &nbsp;&nbsp;&nbsp;&nbsp;520 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(166815) |
| Lockheed Martin Corp.,<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;109 | &nbsp;&nbsp;&nbsp;&nbsp;5232000 | &nbsp;&nbsp;&nbsp;480 | 06/18/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(552630) |
| Lockheed Martin Corp.,<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;108 | &nbsp;&nbsp;&nbsp;&nbsp;5400000 | &nbsp;&nbsp;&nbsp;500 | 06/18/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(447552) |
| Mastercard, Inc.,<sup>(2)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;109 | &nbsp;&nbsp;&nbsp;&nbsp;6322000 | &nbsp;&nbsp;&nbsp;580 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(276642) |
| Mastercard, Inc.,<sup>(2)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;103 | &nbsp;&nbsp;&nbsp;&nbsp;6025500 | &nbsp;&nbsp;&nbsp;&nbsp;585 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(229175) |
| Mastercard, Inc.,<sup>(2)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;103 | &nbsp;&nbsp;&nbsp;&nbsp;6283000 | &nbsp;&nbsp;&nbsp;&nbsp;610 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(136475) |
| Mastercard, Inc.,<sup>(2)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;54 | &nbsp;&nbsp;&nbsp;&nbsp;3348000 | &nbsp;&nbsp;&nbsp;620 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(56160) |
| Mastercard, Inc.,<sup>(2)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;102 | &nbsp;&nbsp;&nbsp;&nbsp;6528000 | &nbsp;&nbsp;&nbsp;640 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(62730) |
| Mastercard, Inc.,<sup>(2)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;102 | &nbsp;&nbsp;&nbsp;&nbsp;6834000 | &nbsp;&nbsp;&nbsp;670 | 06/18/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(136170) |
| McKesson Corp.,<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41 | &nbsp;&nbsp;&nbsp;&nbsp;2706000 | &nbsp;&nbsp;&nbsp;660 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(504300) |
| McKesson Corp.,<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;&nbsp;2720000 | &nbsp;&nbsp;&nbsp;680 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(424000) |
| McKesson Corp.,<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51 | &nbsp;&nbsp;&nbsp;&nbsp;3876000 | &nbsp;&nbsp;&nbsp;760 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(238170) |
| McKesson Corp.,<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51 | &nbsp;&nbsp;&nbsp;&nbsp;3978000 | &nbsp;&nbsp;&nbsp;780 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(207672) |
| Meta Platforms, Inc.,<sup>(5)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;103 | &nbsp;&nbsp;&nbsp;&nbsp;7982500 | &nbsp;&nbsp;&nbsp;&nbsp;775 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(417665) |
| Meta Platforms, Inc.,<sup>(5)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;103 | &nbsp;&nbsp;&nbsp;&nbsp;8343000 | &nbsp;&nbsp;&nbsp;&nbsp;810 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(293138) |
| Microsoft Corp.,<sup>(5)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;103 | &nbsp;&nbsp;&nbsp;&nbsp;5819500 | &nbsp;&nbsp;&nbsp;&nbsp;565 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(108871) |
| Microsoft Corp.,<sup>(5)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;103 | &nbsp;&nbsp;&nbsp;&nbsp;6077000 | &nbsp;&nbsp;&nbsp;590 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(57680) |
| NVIDIA Corp.,<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;284 | &nbsp;&nbsp;&nbsp;&nbsp;5396000 | &nbsp;&nbsp;&nbsp;&nbsp;190 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(448720) |
| NVIDIA Corp.,<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;284 | &nbsp;&nbsp;&nbsp;&nbsp;5680000 | &nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(329440) |
| Salesforce, Inc.,<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;58 | &nbsp;&nbsp;&nbsp;&nbsp;1682000 | &nbsp;&nbsp;&nbsp;290 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(26970) |
| Salesforce, Inc.,<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;58 | &nbsp;&nbsp;&nbsp;&nbsp;1740000 | &nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20590) |
| Starbucks Corp.,<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;414 | &nbsp;&nbsp;&nbsp;&nbsp;4140000 | &nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(65826) |
| Starbucks Corp.,<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;978 | &nbsp;&nbsp;&nbsp;10269000 | &nbsp;&nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(97800) |
| Starbucks Corp.,<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;235 | &nbsp;&nbsp;&nbsp;&nbsp;2937500 | &nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(940) |
| The Cigna Group,<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;103 | &nbsp;&nbsp;&nbsp;&nbsp;3399000 | &nbsp;&nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(56650) |
| Veralto Corp.,<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp;&nbsp;1705000 | &nbsp;&nbsp;&nbsp;&nbsp;110 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20925) |
| Visa, Inc.,<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;164 | &nbsp;&nbsp;&nbsp;&nbsp;5904000 | &nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(169904) |
| Visa, Inc.,<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp;&nbsp;5735000 | &nbsp;&nbsp;&nbsp;&nbsp;370 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(103850) |
| Visa, Inc.,<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;153 | &nbsp;&nbsp;&nbsp;&nbsp;5814000 | &nbsp;&nbsp;&nbsp;380 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(70380) |
| Visa, Inc.,<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;178 | &nbsp;&nbsp;&nbsp;&nbsp;6942000 | &nbsp;&nbsp;&nbsp;390 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(64970) |
| Visa, Inc.,<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp;&nbsp;6200000 | &nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(31155) |
| Visa, Inc.,<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;153 | &nbsp;&nbsp;&nbsp;&nbsp;6043500 | &nbsp;&nbsp;&nbsp;&nbsp;395 | 06/18/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(148716) |
| Vulcan Materials Co.,<sup>(5)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3741000 | &nbsp;&nbsp;&nbsp;290 | &nbsp;&nbsp;12/19/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(336690) |
| Vulcan Materials Co.,<sup>(5)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;129 | &nbsp;&nbsp;&nbsp;&nbsp;3870000 | &nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;12/19/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(231555) |
| Willis Towers Watson PLC,<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;1650000 | &nbsp;&nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(135000) |
| Willis Towers Watson PLC,<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;1700000 | &nbsp;&nbsp;&nbsp;&nbsp;340 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(101000) |
| Workday, Inc.,<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;207 | &nbsp;&nbsp;&nbsp;&nbsp;5382000 | &nbsp;&nbsp;&nbsp;260 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(223560) |
| Workday, Inc.,<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;207 | &nbsp;&nbsp;&nbsp;&nbsp;5589000 | &nbsp;&nbsp;&nbsp;&nbsp;270 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(158355) |
| Yum! Brands, Inc.,<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;192 | &nbsp;&nbsp;&nbsp;&nbsp;2784000 | &nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(238080) |
| Yum! Brands, Inc.,<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;351 | &nbsp;&nbsp;&nbsp;&nbsp;5616000 | &nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(143910) |
| Yum! Brands, Inc.,<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;103 | &nbsp;&nbsp;&nbsp;&nbsp;1699500 | &nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;01/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25750) |
| **Total Written Options** |  |  |  |  | $(15673749) |

---

------

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

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

#### Flexibly Managed Fund<br>
(1) Counterparty - Bank of America

(2) Counterparty - Barclays

(3) Counterparty - Citigroup

(4) Counterparty - Goldman Sachs

(5) Counterparty - JP Morgan

(6) Counterparty - UBS Securities

(7) Counterparty - Wells Fargo

## 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 Flexibly Managed Fund

- **b. EDGAR series identifier (if any):** S000006734

- **c. LEI of Series:** PSPNMU185GM5CXHXXK14

**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:** $5153906055.98

**Total Liabilities:** $11201977.88

**Net Assets:** $5142704078.10

**Cash Not Reported:** $2469850.49

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.00000000 | **1-Year:** 7335.92423000 | **5-Year:** 11382.54551000 | **10-Year:** 3296.72441000 | **30-Year:** 0.00000000

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

- **3-Month:** 1763.60469000 | **1-Year:** 77376.24172000 | **5-Year:** 65851.78630000 | **10-Year:** 28267.20869000 | **30-Year:** 45454.82270000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000018297 | 2.33%                | 0.47%                | 1.25%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $44794412.92             | $68214372.36                               |
| Month 2  | $54024154.32             | $-37434096.28                              |
| Month 3  | $131617860.08            | $-72912529.32                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Storable Inc                                    | STORABLE INC                                                                   | CUSIP: 86210LAD0<br>LEI: 2549000AWFN27KOH3F59 | Long             | LON              | CORP              | US        |   8523704 | PA      | $8539728.91   | 0.17%             | 2031-04-17      | Floating      | 7.41%                 | No            |                  2 | On Loan: No      |
| Vaxcyte Inc                                     | Vaxcyte Inc                                                                    | CUSIP: 92243G108<br>LEI: 254900M7NMHTGASX8D95 | Long             | EC               | CORP              | US        |    111421 | NS      | $4013384.42   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| USI Inc                                         | USI INC/NY                                                                     | CUSIP: 90351NAQ8<br>LEI: 2549006D7UF7072T7I27 | Long             | LON              | CORP              | US        |  13290989 | PA      | $13269722.95  | 0.26%             | 2030-09-27      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                 | United States Treasury Note/Bond                                               | CUSIP: 91282CNK3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 173976000 | PA      | $175083738.25 | 3.40%             | 2030-06-30      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | MCKESSON CORP                                                                  | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |       -51 | NC      | $-207672.00   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| CPI Holdco B, LLC                               | CREATIVE PLANNING LLC                                                          | CUSIP: 1261MAAB6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  13358267 | PA      | $13341569.18  | 0.26%             | 2031-05-17      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | META PLATFORMS INC                                                             | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -103 | NC      | $-293138.00   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| AMWINS GROUP INC                                | AmWINS Group Inc                                                               | CUSIP: 031921AC3<br>LEI: 549300SJE7MUB8NMRG61 | Long             | DBT              | CORP              | US        |   3277000 | PA      | $3340698.33   | 0.06%             | 2029-02-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Otis Worldwide Corp                             | Otis Worldwide Corp                                                            | CUSIP: 68902V107<br>LEI: 549300ZLBKR8VSU25153 | Long             | EC               | CORP              | US        |    152122 | NS      | $13908514.46  | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                                 | United States Treasury Note/Bond                                               | CUSIP: 91282CMZ1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  83160000 | PA      | $83705737.50  | 1.63%             | 2030-04-30      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | AMPHENOL CORP                                                                  | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -149 | NC      | $-222010.00   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| CROWDSTRIKE HOLDINGS INC                        | Crowdstrike Holdings Inc                                                       | CUSIP: 22788CAA3<br>LEI: 549300YBY08K9KM4HX32 | Long             | DBT              | CORP              | US        |    572000 | PA      | $544809.18    | 0.01%             | 2029-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| LAMAR MEDIA CORP                                | Lamar Media Corp                                                               | CUSIP: 513075BW0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    528000 | PA      | $523267.69    | 0.01%             | 2029-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| AVANTOR FUNDING INC                             | Avantor Funding Inc                                                            | CUSIP: 05352TAA7<br>LEI: 5493003VM0XB4U8YD238 | Long             | DBT              | CORP              | US        |   5629000 | PA      | $5536934.33   | 0.11%             | 2028-07-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | CANADIAN NATURAL RESOURCES LTD                                                 | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -776 | NC      | $-124160.00   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Epicor Software Corporation                     | EPICOR SOFTWARE CORP                                                           | CUSIP: 29426NAZ7<br>LEI: JGNXVGGGXR4O1L5I7S73 | Long             | LON              | CORP              | US        |  12970483 | PA      | $12980470.16  | 0.25%             | 2031-05-30      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| SIX FLAGS ENTERTAINME                           | Six Flags Entertainment Corp                                                   | CUSIP: 83001AAD4<br>LEI: 529900AS2CYWYFHRS781 | Long             | DBT              | CORP              | US        |   2592000 | PA      | $2592710.21   | 0.05%             | 2031-05-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| RYAN SPECIALTY GROUP                            | Ryan Specialty LLC                                                             | CUSIP: 78351MAA0<br>LEI: 549300K52N7QBO3PYY45 | Long             | DBT              | CORP              | US        |   2140000 | PA      | $2064550.02   | 0.04%             | 2030-02-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | AMPHENOL CORP                                                                  | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -149 | NC      | $-184760.00   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | DANAHER CORP                                                                   | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -207 | NC      | $-117990.00   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| PTC INC                                         | PTC Inc                                                                        | CUSIP: 69370CAC4<br>LEI: 54930050SSMU8SKDJ030 | Long             | DBT              | CORP              | US        |   3591000 | PA      | $3515461.16   | 0.07%             | 2028-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Informatica LLC                                 | INFORMATICA LLC                                                                | CUSIP: 45673YAL0<br>LEI: 5493007SV33RZV7RPS40 | Long             | LON              | CORP              | US        |   4413771 | PA      | $4419288.24   | 0.09%             | 2028-10-27      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                   | TransDigm Inc                                                                  | CUSIP: 893647BR7<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   2152000 | PA      | $2193073.50   | 0.04%             | 2028-08-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Cigna Group/The                                 | Cigna Group/The                                                                | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |    177471 | NS      | $51156015.75  | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| SBA TOWER TRUST                                 | SBA Tower Trust                                                                | CUSIP: 78403DAZ3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    256000 | PA      | $262889.93    | 0.01%             | 2028-01-15      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| Arcellx Inc                                     | Arcellx Inc                                                                    | CUSIP: 03940C100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     98500 | NS      | $8086850.00   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Transdigm Inc                                   | TRANSDIGM INC                                                                  | CUSIP: 89364MCC6<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |    752458 | PA      | $751555.50    | 0.01%             | 2028-08-24      | Floating      | 7.08%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | STARBUCKS CORP                                                                 | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -235 | NC      | $-940.00      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| T Rowe Price Government Reserve Investment Fund | T Rowe Price Government Reserve Investment Fund                                | CUSIP: 76105Y109<br>LEI: 5493007QR86JJLYO6D96 | Long             | STIV             | RF                | US        |  84362853 | NS      | $84362852.37  | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | SALESFORCE INC                                                                 | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |       -58 | NC      | $-20590.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Salesforce Inc                                  | Salesforce Inc                                                                 | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |     63803 | NS      | $15121311.00  | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Becton Dickinson & Co                           | Becton Dickinson & Co                                                          | CUSIP: 075887109<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | EC               | CORP              | US        |    785092 | NS      | $146945669.64 | 2.86%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | LOCKHEED MARTIN CORP                                                           | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -109 | NC      | $-552630.00   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | APPLE INC                                                                      | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -258 | NC      | $-537930.00   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | NVIDIA CORP                                                                    | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -284 | NC      | $-448720.00   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| HUB International Ltd                           | HUB INTERNATIONAL LTD                                                          | CUSIP: 44332EAZ9<br>LEI: 549300JQT6ATTUNS5E06 | Long             | LON              | CORP              | US        |  68267643 | PA      | $68350929.33  | 1.33%             | 2030-06-20      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| Wyndham Hotels & Resorts Inc                    | WYNDHAM HOTELS & RESORTS                                                       | CUSIP: 98310CAF9<br>LEI: 549300FE3MQ4RVXXC673 | Long             | LON              | CORP              | US        |   2883250 | PA      | $2891496.60   | 0.06%             | 2030-05-24      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                        | Hilton Domestic Operating Co Inc                                               | CUSIP: 432833AP6<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |   3928000 | PA      | $4014003.56   | 0.08%             | 2029-04-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CAPSTONE BORROWER INC                           | Capstone Borrower Inc                                                          | CUSIP: 140944AA7<br>LEI: 254900YSP2BAI3YKIX08 | Long             | DBT              | CORP              | US        |   2323000 | PA      | $2429558.33   | 0.05%             | 2030-06-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | ABBOTT LABORATORIES                                                            | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -493 | NC      | $-456518.00   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                        | Hilton Domestic Operating Co Inc                                               | CUSIP: 432833AJ0<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |   8034000 | PA      | $7727747.94   | 0.15%             | 2029-05-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                 | United States Treasury Note/Bond                                               | CUSIP: 91282CNG2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 178669000 | PA      | $180804652.00 | 3.52%             | 2030-05-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MSCI INC                                        | MSCI Inc                                                                       | CUSIP: 55354GAR1<br>LEI: 549300HTIN2PD78UB763 | Long             | DBT              | CORP              | US        |   6771000 | PA      | $6828751.42   | 0.13%             | 2035-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Loire US Holdco 1 Inc                           | LOIRE FINCO LUXEMBOURG                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | LU        |  19512134 | PA      | $19521889.90  | 0.38%             | 2030-01-28      | Floating      | 8.31%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | MASTERCARD INC                                                                 | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |       -54 | NC      | $-56160.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Quartz AcquireCo LLC                            | QUARTZ ACQUIRECO LLC                                                           | CUSIP: 74773KAE5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3184498 | PA      | $3169912.56   | 0.06%             | 2030-06-28      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                 | United States Treasury Note/Bond                                               | CUSIP: 91282CNJ6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 116227000 | PA      | $116848995.76 | 2.27%             | 2032-06-30      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SBA Senior Finance II LLC                       | SBA SENIOR FINANCE II LLC                                                      | CUSIP: 78404XAJ4<br>LEI: 549300PVT2ADFWMYEW87 | Long             | LON              | CORP              | US        |  13024537 | PA      | $13062959.26  | 0.25%             | 2031-01-25      | Floating      | 5.92%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                   | TransDigm Inc                                                                  | CUSIP: 893647CA3<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   8169000 | PA      | $8446231.35   | 0.16%             | 2034-01-31      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Willis Towers Watson PLC                        | Willis Towers Watson PLC                                                       | CUSIP: 000000000<br>LEI: 549300WHC56FF48KL350 | Long             | EC               | CORP              | GB        |    153811 | NS      | $53134009.95  | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | MASTERCARD INC                                                                 | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -109 | NC      | $-276642.00   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| McKesson Corp                                   | McKesson Corp                                                                  | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |     75824 | NS      | $58577072.96  | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | VISA INC                                                                       | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -155 | NC      | $-103850.00   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| USI INC/NY                                      | USI Inc/NY                                                                     | CUSIP: 90346KAB5<br>LEI: 2549006D7UF7072T7I27 | Long             | DBT              | CORP              | US        |   8714000 | PA      | $9127714.58   | 0.18%             | 2032-01-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CBOE GLOBAL MARKETS, INC.                       | MICROSOFT CORP                                                                 | CUSIP: 000000000<br>LEI: 529900RLNSGA90UPEH54 | N/A              | DE               | CORP              | US        |      -103 | NC      | $-108871.00   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | ELI LILLY & CO                                                                 | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |       -20 | NC      | $-59000.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Chipotle Mexican Grill Inc                      | Chipotle Mexican Grill Inc                                                     | CUSIP: 169656105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    947043 | NS      | $37114615.17  | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Workday Inc                                     | Workday Inc                                                                    | CUSIP: 98138H101<br>LEI: 549300J0DYC0N31V7G13 | Long             | EC               | CORP              | US        |    192385 | NS      | $46312841.05  | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                                 | United States Treasury Note/Bond                                               | CUSIP: 91282CNX5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  85072600 | PA      | $84660529.59  | 1.65%             | 2030-08-31      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                 | United States Treasury Note/Bond                                               | CUSIP: 91282CNR8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  39678000 | PA      | $39870190.31  | 0.78%             | 2032-07-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Ascend Learning LLC                             | ASCEND LEARNING LLC                                                            | CUSIP: 04349HAN4<br>LEI: 549300T466HKRLVCD610 | Long             | LON              | CORP              | US        |  12319665 | PA      | $12301678.29  | 0.24%             | 2028-12-11      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| Advanced Micro Devices Inc                      | Advanced Micro Devices Inc                                                     | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |    478163 | NS      | $77361991.77  | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| WAYMO LLC SER A-2 CVT PFD UNITS PP              | WAYMO LLC SER A-2 CVT PFD UNITS PP                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    245568 | NS      | $26017929.60  | 0.51%             |  |  |  | No            |                  3 | On Loan: No      |
| AVANTOR FUNDING INC                             | Avantor Funding Inc                                                            | CUSIP: 05352TAB5<br>LEI: 5493003VM0XB4U8YD238 | Long             | DBT              | CORP              | US        |   3506000 | PA      | $3334077.68   | 0.06%             | 2029-11-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | AMAZON.COM INC                                                                 | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -258 | NC      | $-101910.00   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Starbucks Corp                                  | Starbucks Corp                                                                 | CUSIP: 855244109<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | EC               | CORP              | US        |    564257 | NS      | $47736142.20  | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc                          | UnitedHealth Group Inc                                                         | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |     78513 | NS      | $27110538.90  | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | ALPHABET INC                                                                   | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -258 | NC      | $-1123590.00  | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | VISA INC                                                                       | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -155 | NC      | $-31155.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | INGERSOLL RAND INC                                                             | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -362 | NC      | $-39820.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | LOCKHEED MARTIN CORP                                                           | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -108 | NC      | $-447552.00   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Aurora Innovation Inc                           | Aurora Innovation Inc                                                          | CUSIP: 051774107<br>LEI: 984500AB2E0D9F7D9D76 | Long             | EC               | CORP              | US        |  11682036 | NS      | $62966174.04  | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| TRANSDIGM INC                                   | TransDigm Inc                                                                  | CUSIP: 893647BU0<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |  11499000 | PA      | $11755856.61  | 0.23%             | 2029-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| UKG INC                                         | UKG INC                                                                        | CUSIP: 89841EAB1<br>LEI: 529900FKHWSTQ1GXK240 | Long             | LON              | CORP              | US        |  15890651 | PA      | $15870151.66  | 0.31%             | 2031-02-10      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| HUB INTERNATIONAL LTD                           | HUB International Ltd                                                          | CUSIP: 44332PAH4<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |  41940000 | PA      | $43725637.44  | 0.85%             | 2030-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | ADVANCED MICRO DEVICES INC                                                     | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -258 | NC      | $-278640.00   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| CBOE GLOBAL MARKETS, INC.                       | WILLIS TOWERS WATSON PLC                                                       | CUSIP: 000000000<br>LEI: 529900RLNSGA90UPEH54 | N/A              | DE               | CORP              | US        |       -50 | NC      | $-135000.00   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | LOCKHEED MARTIN CORP                                                           | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |       -65 | NC      | $-167700.00   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Intuit Inc                                      | Intuit Inc                                                                     | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |     19723 | NS      | $13469033.93  | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | AMAZON.COM INC                                                                 | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -258 | NC      | $-148350.00   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| BOOZ ALLEN HAMILTON INC                         | Booz Allen Hamilton Inc                                                        | CUSIP: 09951LAB9<br>LEI: 549300D7XCH2480XU542 | Long             | DBT              | CORP              | US        |   2245000 | PA      | $2191103.16   | 0.04%             | 2029-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LAMAR MEDIA CORP                                | Lamar Media Corp                                                               | CUSIP: 513075BZ3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    435000 | PA      | $404806.04    | 0.01%             | 2031-01-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | ALPHABET INC                                                                   | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -258 | NC      | $-915900.00   | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Ingersoll Rand Inc                              | Ingersoll Rand Inc                                                             | CUSIP: 45687V106<br>LEI: 5299004C02FMZCUOIR50 | Long             | EC               | CORP              | US        |    429097 | NS      | $35451994.14  | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                        | Hilton Domestic Operating Co Inc                                               | CUSIP: 432833AL5<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |   7522000 | PA      | $7116634.91   | 0.14%             | 2031-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                        | HILTON DOMESTIC OPERATING CO INC                                               | CUSIP: 43289DAK9<br>LEI: 5493003EG7H0N1E4XV50 | Long             | LON              | CORP              | US        |  19717055 | PA      | $19729674.23  | 0.38%             | 2030-11-08      | Floating      | 5.90%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | MCKESSON CORP                                                                  | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |       -41 | NC      | $-504300.00   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Arthur J Gallagher & Co                         | Arthur J Gallagher & Co                                                        | CUSIP: 363576109<br>LEI: 54930049QLLMPART6V29 | Long             | EC               | CORP              | US        |    107686 | NS      | $33354661.64  | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock Liquidity FedFund                     | BlackRock Liquidity FedFund                                                    | CUSIP: 09248U700<br>LEI: 549300T8K043VZEOVK74 | Long             | STIV             | RF                | US        |  11433154 | NS      | $11433153.76  | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| CBOE GLOBAL MARKETS, INC.                       | VERALTO CORP                                                                   | CUSIP: 000000000<br>LEI: 529900RLNSGA90UPEH54 | N/A              | DE               | CORP              | US        |      -155 | NC      | $-20925.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                                        | Visa Inc                                                                       | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |    169476 | NS      | $57855716.88  | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | CENCORA INC                                                                    | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -127 | NC      | $-605790.00   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Dominos Pizza Master Issuer LL                  | Domino's Pizza Master Issuer LLC                                               | CUSIP: 25755TAL4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2126400 | PA      | $2045796.04   | 0.04%             | 2049-10-25      | Fixed         | 3.67%                 | No            |                  2 | On Loan: No      |
| VAIL RESORTS INC                                | Vail Resorts Inc                                                               | CUSIP: 91879QAQ2<br>LEI: 529900PSZHRNU9HKH870 | Long             | DBT              | CORP              | US        |   1555000 | PA      | $1564718.75   | 0.03%             | 2030-07-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| VAIL RESORTS INC                                | Vail Resorts Inc                                                               | CUSIP: 91879QAP4<br>LEI: 529900PSZHRNU9HKH870 | Long             | DBT              | CORP              | US        |   3481000 | PA      | $3600011.91   | 0.07%             | 2032-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ELLUCIAN HOLDINGS INC                           | ELLUCIAN HOLDINGS INC                                                          | CUSIP: 28917XAB6<br>LEI: 549300RP8NIJ7FY7OS79 | Long             | LON              | CORP              | US        |  10804560 | PA      | $10797861.53  | 0.21%             | 2029-10-09      | Floating      | 6.92%                 | No            |                  2 | On Loan: No      |
| Icon Parent I Inc                               | ICON PARENT INC                                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  18144362 | PA      | $18113153.70  | 0.35%             | 2031-11-13      | Floating      | 6.75%                 | No            |                  2 | On Loan: No      |
| Roper Technologies Inc                          | Roper Technologies Inc                                                         | CUSIP: 776696106<br>LEI: 54930003T4SXCIWVXY35 | Long             | EC               | CORP              | US        |    135757 | NS      | $67700658.33  | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Danaher Corp                                    | Danaher Corp                                                                   | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |    303947 | NS      | $60260532.22  | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Filtration Group Corporation                    | FILTRATION GROUP CORP                                                          | CUSIP: 31732FAW6<br>LEI: 549300ZA0D9WN5ECE978 | Long             | LON              | CORP              | US        |   6873996 | PA      | $8136027.67   | 0.16%             | 2028-10-21      | Floating      | 5.41%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | WORKDAY INC                                                                    | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -207 | NC      | $-158355.00   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                        | Hilton Domestic Operating Co Inc                                               | CUSIP: 432833AS0<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |   6121000 | PA      | $6202470.51   | 0.12%             | 2033-09-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| AmWINS Group Inc                                | AMWINS GROUP INC                                                               | CUSIP: 03234TBA5<br>LEI: 549300SJE7MUB8NMRG61 | Long             | LON              | CORP              | US        |  33713869 | PA      | $33691618.17  | 0.66%             | 2032-01-30      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | VISA INC                                                                       | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -164 | NC      | $-169904.00   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | VISA INC                                                                       | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -153 | NC      | $-70380.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                                  | Amazon.com Inc                                                                 | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |    977419 | NS      | $214611889.83 | 4.17%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | STARBUCKS CORP                                                                 | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -414 | NC      | $-65826.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | VULCAN MATERIALS CO                                                            | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -129 | NC      | $-336690.00   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | STARBUCKS CORP                                                                 | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -978 | NC      | $-97800.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | NVIDIA CORP                                                                    | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -284 | NC      | $-329440.00   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| HOLOGIC INC                                     | Hologic Inc                                                                    | CUSIP: 436440AP6<br>LEI: 549300DYP6F5ZJL0LB74 | Long             | DBT              | CORP              | US        |   2541000 | PA      | $2453266.64   | 0.05%             | 2029-02-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| SIX FLAGS/CANADA WON                            | Six Flags Entertainment Corp / Canada's Wonderland Co / Magnum Management Corp | CUSIP: 150190AB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8262000 | PA      | $8240273.42   | 0.16%             | 2027-04-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| SIX FLAGS/CANADA WON                            | Six Flags Entertainment Corp / Canada's Wonderland Co / Magnum Management Corp | CUSIP: 150190AE6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2749000 | PA      | $2658528.49   | 0.05%             | 2029-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Transdigm Inc                                   | TRANSDIGM INC                                                                  | CUSIP: 89364MCF9<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |  21718771 | PA      | $21692708.76  | 0.42%             | 2030-03-22      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | MCKESSON CORP                                                                  | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |       -40 | NC      | $-424000.00   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| GE HealthCare Technologies Inc                  | GE HealthCare Technologies Inc                                                 | CUSIP: 36266G107<br>LEI: 549300OI9J7XOWZMUN85 | Long             | EC               | CORP              | US        |     57300 | NS      | $4303230.00   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| LAMAR MEDIA CORP                                | Lamar Media Corp                                                               | CUSIP: 513075BR1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2796000 | PA      | $2719594.55   | 0.05%             | 2028-02-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| CBOE GLOBAL MARKETS, INC.                       | CENTERPOINT ENERGY INC                                                         | CUSIP: 000000000<br>LEI: 529900RLNSGA90UPEH54 | N/A              | DE               | CORP              | US        |     -1304 | NC      | $-560720.00   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| YUM! BRANDS INC                                 | Yum! Brands Inc                                                                | CUSIP: 988498AR2<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |   7196000 | PA      | $7223366.39   | 0.14%             | 2032-04-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | GE HEALTHCARE TECHNOLOGIES INC                                                 | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -274 | NC      | $-1370.00     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                        | Hilton Domestic Operating Co Inc                                               | CUSIP: 432833AN1<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |   9652000 | PA      | $8833469.86   | 0.17%             | 2032-02-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| IQVIA INC                                       | IQVIA Inc                                                                      | CUSIP: 46266TAA6<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |   4372000 | PA      | $4359857.21   | 0.08%             | 2027-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                   | TransDigm Inc                                                                  | CUSIP: 893647BP1<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   3763000 | PA      | $3687640.43   | 0.07%             | 2029-01-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | APPLE INC                                                                      | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -258 | NC      | $-719820.00   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| CBOE GLOBAL MARKETS, INC.                       | MICROSOFT CORP                                                                 | CUSIP: 000000000<br>LEI: 529900RLNSGA90UPEH54 | N/A              | DE               | CORP              | US        |      -103 | NC      | $-57680.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| SERVICE CORP INTL                               | Service Corp International/US                                                  | CUSIP: 817565CD4<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |    479000 | PA      | $476650.03    | 0.01%             | 2027-12-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Eli Lilly & Co                                  | Eli Lilly & Co                                                                 | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |     51100 | NS      | $38989300.00  | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | INTUIT INC                                                                     | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |       -51 | NC      | $-23460.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| SURGERY CENTER HOLDINGS                         | Surgery Center Holdings Inc                                                    | CUSIP: 86881WAF9<br>LEI: 54930054EVI5HWPPW113 | Long             | DBT              | CORP              | US        |   2215000 | PA      | $2275192.63   | 0.04%             | 2032-04-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Trans Union LLC (f/k/a TransUnion Corp          | Trans Union LLC                                                                | CUSIP: 89334GAX2<br>LEI: X8NPN6PWJOM1QCTYFV34 | Long             | LON              | CORP              | US        |   1012217 | PA      | $1012854.71   | 0.02%             | 2026-11-16      | Floating      | 6.01%                 | No            |                  2 | On Loan: No      |
| MISTER CAR WASH HOLDINGS IN                     | MISTER CAR WASH HOLDINGS INC                                                   | CUSIP: 60646CAK3<br>LEI: 549300BARUQU0U2GQE05 | Long             | LON              | CORP              | US        |   2420736 | PA      | $2422889.99   | 0.05%             | 2031-03-27      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| Varsity Brands, Inc.                            | VARSITY BRANDS INC                                                             | CUSIP: 92227QAF3<br>LEI: 254900PLBJA0I5NSTT38 | Long             | LON              | CORP              | US        |  14113628 | PA      | $14106570.69  | 0.27%             | 2031-08-26      | Floating      | 7.82%                 | No            |                  2 | On Loan: No      |
| SIX FLAGS ENTERTAINME                           | Six Flags Entertainment Corp                                                   | CUSIP: 83001AAC6<br>LEI: 529900AS2CYWYFHRS781 | Long             | DBT              | CORP              | US        |   7044000 | PA      | $7031862.34   | 0.14%             | 2027-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | YUM! BRANDS INC                                                                | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -103 | NC      | $-25750.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                        | Hilton Domestic Operating Co Inc                                               | CUSIP: 432833AH4<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |  10025000 | PA      | $10037240.53  | 0.20%             | 2028-05-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NVIDIA Corp                                     | NVIDIA Corp                                                                    | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |   1396824 | NS      | $260619421.92 | 5.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Cytokinetics Inc                                | Cytokinetics Inc                                                               | CUSIP: 23282W605<br>LEI: 549300BE5DY1HW7IHA64 | Long             | EC               | CORP              | US        |    189560 | NS      | $10418217.60  | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | CANADIAN NATURAL RESOURCES LTD                                                 | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -776 | NC      | $-65960.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Veralto Corp                                    | Veralto Corp                                                                   | CUSIP: 92338C103<br>LEI: 635400FJE6GSOJUSNY27 | Long             | EC               | CORP              | US        |    163134 | NS      | $17391715.74  | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                        | Hilton Domestic Operating Co Inc                                               | CUSIP: 432833AF8<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |   7217000 | PA      | $7178870.42   | 0.14%             | 2030-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Lockheed Martin Corp                            | Lockheed Martin Corp                                                           | CUSIP: 539830109<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | EC               | CORP              | US        |     40703 | NS      | $20319344.63  | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| PTC Inc                                         | PTC Inc                                                                        | CUSIP: 69370C100<br>LEI: 54930050SSMU8SKDJ030 | Long             | EC               | CORP              | US        |    539730 | NS      | $109575984.60 | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp                                  | Microsoft Corp                                                                 | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |    559722 | NS      | $289908009.90 | 5.64%             |  |  |  | No            |                  1 | On Loan: No      |
| BioNTech SE                                     | BioNTech SE                                                                    | CUSIP: 09075V102<br>LEI: 894500UZJ5LG1F8J1U58 | Long             | EC               | CORP              | DE        |    128673 | NS      | $12689731.26  | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | DTE ENERGY CO                                                                  | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -427 | NC      | $-145180.00   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Natural Resources Ltd                  | Canadian Natural Resources Ltd                                                 | CUSIP: 136385101<br>LEI: 549300T15RIMIKZC5Q38 | Long             | EC               | CORP              | CA        |   1973420 | NS      | $63070503.20  | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| YUM! BRANDS INC                                 | Yum! Brands Inc                                                                | CUSIP: 988498AP6<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |   8583000 | PA      | $8338870.30   | 0.16%             | 2032-01-31      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | DANAHER CORP                                                                   | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -288 | NC      | $-24480.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| SERVICE CORP INTL                               | Service Corp International/US                                                  | CUSIP: 817565CH5<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |   2818000 | PA      | $2854879.79   | 0.06%             | 2032-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | INTUIT INC                                                                     | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |       -51 | NC      | $-19380.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | CIGNA GROUP/THE                                                                | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -103 | NC      | $-56650.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| TRANSDIGM INC                                   | TransDigm Inc                                                                  | CUSIP: 893647BZ9<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    880000 | PA      | $904139.86    | 0.02%             | 2034-01-31      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| KFC HLD/PIZZA HUT/TACO                          | KFC Holding Co/Pizza Hut Holdings LLC/Taco Bell of America LLC                 | CUSIP: 48250NAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8757000 | PA      | $8724392.43   | 0.17%             | 2027-06-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Icon Parent I Inc                               | ICON PARENT INC                                                                | CUSIP: 45115MAB4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4676300 | PA      | $4727458.72   | 0.09%             | 2032-11-12      | Floating      | 9.21%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | MASTERCARD INC                                                                 | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -102 | NC      | $-62730.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| YUM! BRANDS INC                                 | Yum! Brands Inc                                                                | CUSIP: 988498AK7<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |   7809000 | PA      | $7537911.35   | 0.15%             | 2043-11-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | VULCAN MATERIALS CO                                                            | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -129 | NC      | $-231555.00   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | MASTERCARD INC                                                                 | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -103 | NC      | $-229175.00   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| RYAN SPECIALTY                                  | Ryan Specialty LLC                                                             | CUSIP: 78351GAA3<br>LEI: 549300K52N7QBO3PYY45 | Long             | DBT              | CORP              | US        |   5209000 | PA      | $5269372.15   | 0.10%             | 2032-08-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Abbott Laboratories                             | Abbott Laboratories                                                            | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |    854532 | NS      | $114456016.08 | 2.23%             |  |  |  | No            |                  1 | On Loan: No      |
| HUB INTERNATIONAL LTD                           | HUB International Ltd                                                          | CUSIP: 44332PAG6<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |   4835000 | PA      | $4829847.34   | 0.09%             | 2029-12-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| SBA COMMUNICATIONS CORP                         | SBA Communications Corp                                                        | CUSIP: 78410GAD6<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | DBT              | CORP              | US        |   8504000 | PA      | $8376035.04   | 0.16%             | 2027-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | LOCKHEED MARTIN CORP                                                           | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |       -99 | NC      | $-166815.00   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Ameren Corp                                     | Ameren Corp                                                                    | CUSIP: 023608102<br>LEI: XRZQ5S7HYJFPHJ78L959 | Long             | EC               | CORP              | US        |    733589 | NS      | $76572019.82  | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                                    | Broadcom Inc                                                                   | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |    145340 | NS      | $47949119.40  | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | ABBOTT LABORATORIES                                                            | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -258 | NC      | $-107070.00   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc                              | Meta Platforms Inc                                                             | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |    158330 | NS      | $116274385.40 | 2.26%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | META PLATFORMS INC                                                             | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -103 | NC      | $-417665.00   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | MASTERCARD INC                                                                 | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -103 | NC      | $-136475.00   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                                    | Alphabet Inc                                                                   | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |    440383 | NS      | $107057107.30 | 2.08%             |  |  |  | No            |                  1 | 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        |   9067000 | PA      | $9002545.05   | 0.18%             | 2027-05-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| CBOE GLOBAL MARKETS, INC.                       | WILLIS TOWERS WATSON PLC                                                       | CUSIP: 000000000<br>LEI: 529900RLNSGA90UPEH54 | N/A              | DE               | CORP              | US        |       -50 | NC      | $-101000.00   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| SIX FLAGS/CANADA WON                            | Six Flags Entertainment Corp / Canada's Wonderland Co / Magnum Management Corp | CUSIP: 150190AK2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5484000 | PA      | $5508414.77   | 0.11%             | 2028-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | VISA INC                                                                       | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -178 | NC      | $-64970.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Revvity Inc                                     | Revvity Inc                                                                    | CUSIP: 714046109<br>LEI: 549300IKL1SDPFI7N655 | Long             | EC               | CORP              | US        |   1109953 | NS      | $97287380.45  | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| BOOZ ALLEN HAMILTON INC                         | Booz Allen Hamilton Inc                                                        | CUSIP: 09951LAC7<br>LEI: 549300D7XCH2480XU542 | Long             | DBT              | CORP              | US        |   2469000 | PA      | $2592711.39   | 0.05%             | 2033-08-04      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Apple Inc                                       | Apple Inc                                                                      | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |    896008 | NS      | $228150517.04 | 4.44%             |  |  |  | No            |                  1 | On Loan: No      |
| CCC Intelligent Solutions Inc.                  | CCC INTELLIGENT SOLUTIONS INC                                                  | CUSIP: 12511BAC6<br>LEI: 5493006JEEL9RIWY5T17 | Long             | LON              | CORP              | US        |   4483725 | PA      | $4476730.71   | 0.09%             | 2032-01-16      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | MASTERCARD INC                                                                 | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -102 | NC      | $-136170.00   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | WORKDAY INC                                                                    | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -207 | NC      | $-223560.00   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| YUM! BRANDS INC                                 | Yum! Brands Inc                                                                | CUSIP: 988498AD3<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |   3145000 | PA      | $3489975.05   | 0.07%             | 2037-11-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ELLUCIAN HOLDINGS INC                           | Ellucian Holdings Inc                                                          | CUSIP: 289178AA3<br>LEI: 549300RP8NIJ7FY7OS79 | Long             | DBT              | CORP              | US        |   3541000 | PA      | $3597015.08   | 0.07%             | 2029-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| HILTON WORLDWIDE FIN LLC                        | Hilton Worldwide Finance LLC / Hilton Worldwide Finance Corp                   | CUSIP: 432891AK5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3472000 | PA      | $3469592.86   | 0.07%             | 2027-04-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | INGERSOLL RAND INC                                                             | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -362 | NC      | $-5430.00     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | GE HEALTHCARE TECHNOLOGIES INC                                                 | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -299 | NC      | $-5980.00     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| LIFE TIME INC                                   | Life Time Inc                                                                  | CUSIP: 53190FAE5<br>LEI: 549300PALKE96VYH4X17 | Long             | DBT              | CORP              | US        |   2486000 | PA      | $2523665.39   | 0.05%             | 2031-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Dominos Pizza Master Issuer LL                  | Domino's Pizza Master Issuer LLC                                               | CUSIP: 25755TAH3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2751380 | PA      | $2733577.75   | 0.05%             | 2047-07-25      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Ionis Pharmaceuticals Inc                       | Ionis Pharmaceuticals Inc                                                      | CUSIP: 462222100<br>LEI: 549300SI4ZGLG0BLUZ92 | Long             | EC               | CORP              | US        |     53581 | NS      | $3505269.02   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                                 | United States Treasury Note/Bond                                               | CUSIP: 91282CNN7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 170750000 | PA      | $171817187.50 | 3.34%             | 2030-07-31      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | YUM! BRANDS INC                                                                | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -351 | NC      | $-143910.00   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| AthenaHealth Group Inc                          | ATHENAHEALTH GROUP INC                                                         | CUSIP: 04686RAB9<br>LEI: 254900AA3KZN4Q7A5Z33 | Long             | LON              | CORP              | US        |   7517225 | PA      | $7498431.94   | 0.15%             | 2029-02-15      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | ADVANCED MICRO DEVICES INC                                                     | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -258 | NC      | $-318114.00   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| TRANSDIGM INC                                   | TransDigm Inc                                                                  | CUSIP: 893647BT3<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   9033000 | PA      | $9414642.71   | 0.18%             | 2031-12-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Applied Systems Inc                             | APPLIED SYSTEMS INC                                                            | CUSIP: 03827FBC4<br>LEI: 549300NSKGF0SY5SWQ62 | Long             | LON              | CORP              | US        |   9157116 | PA      | $9353627.71   | 0.18%             | 2040-01-02      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| SBA COMMUNICATIONS CORP                         | SBA Communications Corp                                                        | CUSIP: 78410GAG9<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | DBT              | CORP              | US        |   9983000 | PA      | $9371927.59   | 0.18%             | 2029-02-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Ryan Specialty Group LLC                        | RYAN SPECIALTY                                                                 | CUSIP: 78350UAJ4<br>LEI: 549300K52N7QBO3PYY45 | Long             | LON              | CORP              | US        |    619440 | PA      | $619247.67    | 0.01%             | 2031-09-15      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| HUB INTERNATIONAL LTD                           | HUB International Ltd                                                          | CUSIP: 44332PAJ0<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |  26096000 | PA      | $27175748.10  | 0.53%             | 2032-01-31      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Mastercard Inc                                  | Mastercard Inc                                                                 | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |     92167 | NS      | $52425511.27  | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| PPL Corp                                        | PPL Corp                                                                       | CUSIP: 69351T106<br>LEI: 9N3UAJSNOUXFKQLF3V18 | Long             | EC               | CORP              | US        |   1668715 | NS      | $62009449.40  | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Vulcan Materials Co                             | Vulcan Materials Co                                                            | CUSIP: 929160109<br>LEI: 549300Q8LSNHAVWBNI21 | Long             | EC               | CORP              | US        |     79744 | NS      | $24530849.28  | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | VISA INC                                                                       | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -153 | NC      | $-148716.00   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| TSMC                                            | Taiwan Semiconductor Manufacturing Co Ltd                                      | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |     34000 | NS      | $9495860.00   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Filtration Group Corporation                    | FILTRATION GROUP CORP                                                          | CUSIP: 31732FAX4<br>LEI: 549300ZA0D9WN5ECE978 | Long             | LON              | CORP              | US        |  31834449 | PA      | $31953828.56  | 0.62%             | 2028-10-23      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| USI Inc                                         | USI INC/NY                                                                     | CUSIP: 90351NAR6<br>LEI: 2549006D7UF7072T7I27 | Long             | LON              | CORP              | US        |  13146638 | PA      | $13129153.18  | 0.26%             | 2029-11-21      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| FAIR ISAAC CORP                                 | Fair Isaac Corp                                                                | CUSIP: 303250AG9<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | DBT              | CORP              | US        |   3576000 | PA      | $3620589.82   | 0.07%             | 2033-05-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Amphenol Corp                                   | Amphenol Corp                                                                  | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |    306667 | NS      | $37950041.25  | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| CenterPoint Energy Inc                          | CenterPoint Energy Inc                                                         | CUSIP: 15189T107<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | EC               | CORP              | US        |   2421085 | NS      | $93938098.00  | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Hologic Inc                                     | Hologic Inc                                                                    | CUSIP: 436440101<br>LEI: 549300DYP6F5ZJL0LB74 | Long             | EC               | CORP              | US        |    159983 | NS      | $10797252.67  | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Azalea TopCo Inc                                | AZALEA TOPCO INC                                                               | CUSIP: 05477JAE1<br>LEI: 549300HC42NZULO53062 | Long             | LON              | CORP              | US        |   1558192 | PA      | $1553329.97   | 0.03%             | 2031-04-30      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| CMS ENERGY CORP                                 | CMS Energy Corp                                                                | CUSIP: 125896852<br>LEI: 549300IA9XFBAGNIBW29 | Long             | EP               | CORP              | US        |     18105 | NS      | $430536.90    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadstreet Partners Inc                        | BROADSTREET PARTNERS INC                                                       | CUSIP: 11132VAY5<br>LEI: 549300BS9N54G8DD0R75 | Long             | LON              | CORP              | US        |  37506576 | PA      | $37536206.62  | 0.73%             | 2031-06-13      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | ELI LILLY & CO                                                                 | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |       -20 | NC      | $-39300.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| DTE Energy Co                                   | DTE Energy Co                                                                  | CUSIP: 233331107<br>LEI: 549300IX8SD6XXD71I78 | Long             | EC               | CORP              | US        |    287600 | NS      | $40675268.00  | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Transdigm Inc                                   | TRANSDIGM INC                                                                  | CUSIP: 89364MCB8<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |    772643 | PA      | $771715.73    | 0.02%             | 2030-03-22      | Floating      | 7.05%                 | No            |                  2 | On Loan: No      |
| APPLIED SYSTEMS INC                             | APPLIED SYSTEMS INC                                                            | CUSIP: 03827FBD2<br>LEI: 549300NSKGF0SY5SWQ62 | Long             | LON              | CORP              | US        |  67788140 | PA      | $67807120.44  | 1.32%             | 2031-02-24      | Floating      | 6.45%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                   | TransDigm Inc                                                                  | CUSIP: 893647BV8<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |  16679000 | PA      | $17169642.64  | 0.33%             | 2032-03-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| KORN/FERRY INTERNATIONAL                        | Korn Ferry                                                                     | CUSIP: 50067PAA7<br>LEI: 549300FOD20OM0GT5G40 | Long             | DBT              | CORP              | US        |   3386000 | PA      | $3362673.51   | 0.07%             | 2027-12-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                   | TransDigm Inc                                                                  | CUSIP: 893647BY2<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |  11680000 | PA      | $11799276.16  | 0.23%             | 2033-05-31      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Yum! Brands Inc                                 | Yum! Brands Inc                                                                | CUSIP: 988498101<br>LEI: 549300JE8XHZZ7OHN517 | Long             | EC               | CORP              | US        |    427746 | NS      | $65017392.00  | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | SALESFORCE INC                                                                 | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |       -58 | NC      | $-26970.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | YUM! BRANDS INC                                                                | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -192 | NC      | $-238080.00   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| IQVIA INC                                       | IQVIA Inc                                                                      | CUSIP: 46266TAD0<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |   2589000 | PA      | $2675848.01   | 0.05%             | 2030-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Cencora Inc                                     | Cencora Inc                                                                    | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | EC               | CORP              | US        |    122391 | NS      | $38250859.23  | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Mariner Wealth Advisors LLC                     | MARINER LLC                                                                    | CUSIP: 56846TAH9<br>LEI: 549300XJJOOU336E5R24 | Long             | LON              | CORP              | US        |   7524337 | PA      | $7536601.70   | 0.15%             | 2030-12-31      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | MCKESSON CORP                                                                  | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |       -51 | NC      | $-238170.00   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| BROADSTREET PARTNERS GRP                        | Broadstreet Partners Group LLC                                                 | CUSIP: 11135RAA3<br>LEI: 549300BS9N54G8DD0R75 | Long             | DBT              | CORP              | US        |   8371000 | PA      | $8348850.33   | 0.16%             | 2029-04-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | CENCORA INC                                                                    | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -165 | NC      | $-927300.00   | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| YUM! BRANDS INC                                 | Yum! Brands Inc                                                                | CUSIP: 988498AN1<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |   4955000 | PA      | $4626513.53   | 0.09%             | 2031-03-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| NiSource Inc                                    | NiSource Inc                                                                   | CUSIP: 65473P105<br>LEI: 549300D8GOWWH0SJB189 | Long             | EC               | CORP              | US        |   2037498 | NS      | $88223663.40  | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                 | ABBOTT LABORATORIES                                                            | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -244 | NC      | $-59536.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| YUM! BRANDS INC                                 | Yum! Brands Inc                                                                | CUSIP: 988498AL5<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |   4113000 | PA      | $4087485.42   | 0.08%             | 2030-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| SERVICE CORP INTL                               | Service Corp International/US                                                  | CUSIP: 817565CF9<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |   2557000 | PA      | $2370949.97   | 0.05%             | 2030-08-15      | Fixed         | 3.38%                 | 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