# EDGAR Filing Document

**Accession Number:** 0000751173
**File Stem:** 0000940400-25-009539
**Filing Date:** 2025-11
**Character Count:** 64557
**Document Hash:** 52814725f672cf51bf745a8cfa488e0b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-009539.hdr.sgml**: 20251124

**ACCESSION NUMBER**: 0000940400-25-009539

**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:** MANNING & NAPIER FUND, INC.
- **CENTRAL INDEX KEY:** 0000751173

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04087
- **FILM NUMBER:** 251512433

**BUSINESS ADDRESS:**
- **STREET 1:** 290 WOODCLIFF DRIVE
- **CITY:** FAIRPORT
- **STATE:** NY
- **ZIP:** 14450
- **BUSINESS PHONE:** 585-325-6880

**MAIL ADDRESS:**
- **STREET 1:** 290 WOODCLIFF DRIVE
- **CITY:** FAIRPORT
- **STATE:** NY
- **ZIP:** 14450

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MANNING & NAPIER FUND, INC /NY/
- **DATE OF NAME CHANGE:** 20060929

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** EXETER FUND INC /NY/
- **DATE OF NAME CHANGE:** 19980226

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MANNING & NAPIER FUND INC
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### High Yield Bond Series (Series ID: S000003634)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010100 | Class S      | MNHYX           |
| C000116786 | Class I      | MNHAX           |
| C000206449 | Class Z      | MHYZX           |
| C000206450 | Class W      | MHYWX           |

## Nport-Ex

**Investment Portfolio - September 30, 2025**<br> (unaudited)

---

| | | |
|:---|:---|:---|
| HIGH YIELD BOND SERIES | PRINCIPAL<br> AMOUNT<sup>1</sup>/<br> SHARES | VALUE |
| **LOAN ASSIGNMENTS - 1.2%** |  |  |
| &nbsp;&nbsp;&nbsp;**WestJet Loyalty LP, Initial Term Loan (Canada) (3 mo. U.S. Secured Overnight Financing Rate + 3.250%), 7.252%, 2/14/2031<sup>2</sup>** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Identified Cost $17,838,256) | 17880243 | $**17889898** |
| **CORPORATE BONDS - 98.1%** |  |  |
| **Non-Convertible Corporate Bonds- 98.1%** |  |  |
| **Communication Services - 7.2%** |  |  |
| &nbsp;&nbsp;&nbsp;**Diversified Telecommunication Services - 1.3%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;IHS Holding Ltd. (Nigeria), 6.25%, 11/29/2028<sup>3</sup> | 19640000 | 19677716 |
| &nbsp;&nbsp;&nbsp;**Interactive Media & Services - 1.3%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Ziff Davis, Inc., 4.625%, 10/15/2030<sup>3</sup> | 19895000 | 18776988 |
| &nbsp;&nbsp;&nbsp;**Media - 3.4%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cable One, Inc., 4.00%, 11/15/2030<sup>3</sup> | 18910000 | 16030265 |
| &nbsp;&nbsp;&nbsp;&nbsp;Directv Financing LLC - Directv Financing Co-Obligor, Inc., 10.00%, 2/15/2031<sup>3</sup> | 18055000 | 18062761 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sirius X.M. Radio LLC, 3.875%, 9/1/2031<sup>3</sup> | 18495000 | 16766790 |
|  |  | 50859816 |
| &nbsp;&nbsp;&nbsp;**Wireless Telecommunication Services - 1.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Millicom International Cellular S.A. (Guatemala), 4.50%, 4/27/2031<sup>3</sup> | 19345000 | 18295027 |
| **Total Communication Services** |  | 107609547 |
| **Consumer Discretionary - 8.3%** |  |  |
| &nbsp;&nbsp;&nbsp;**Auto Components - 1.4%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;American Axle & Manufacturing, Inc., 6.375%, 10/15/2032<sup>3</sup> | 21815000 | 21777649 |
| &nbsp;&nbsp;&nbsp;**Automobiles - 1.0%** |  |  |
| &nbsp;&nbsp;&nbsp;Ford Motor Credit Co. LLC, 7.35%, 3/6/2030 | 13565000 | 14517601 |
| &nbsp;&nbsp;&nbsp;**Diversified Consumer Services - 0.6%** |  |  |
| &nbsp;&nbsp;&nbsp;The ADT Security Corp., 5.875%, 10/15/2033 | 8220000 | 8220000 |
| &nbsp;&nbsp;&nbsp;**Hotels, Restaurants & Leisure - 2.9%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Affinity Interactive, 6.875%, 12/15/2027<sup>3</sup> | 28295000 | 15678373 |
| &nbsp;&nbsp;&nbsp;&nbsp;Carnival Corp., 5.875%, 6/15/2031<sup>3</sup> | 13540000 | 13885127 |
| &nbsp;&nbsp;&nbsp;&nbsp;SP Cruises Intermediate Ltd. (Bermuda), 11.50%, 3/14/2030<sup>3</sup> | 14000000 | 13271266 |
|  |  | 42834766 |
| &nbsp;&nbsp;&nbsp;**Household Durables - 2.4%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Adams Homes, Inc., 9.25%, 10/15/2028<sup>3</sup> | 13910000 | 14494608 |
| &nbsp;&nbsp;&nbsp;&nbsp;LGI Homes, Inc., 4.00%, 7/15/2029<sup>3</sup> | 23178000 | 21139161 |
|  |  | 35633769 |
| **Total Consumer Discretionary** |  | 122983785 |

---

---

| | | |
|:---|:---|:---|
|  | PRINCIPAL<br> AMOUNT<sup>1</sup>/<br> SHARES | VALUE |
| **CORPORATE BONDS** (continued) |  |  |
| **Non-Convertible Corporate Bonds** (continued) |  |  |
| **Consumer Staples - 3.0%** |  |  |
| &nbsp;&nbsp;&nbsp;**Consumer Staples Distribution & Retail - 1.4%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;C&S Group Enterprises LLC, 5.00%, 12/15/2028<sup>3</sup> | 23530000 | $21286330 |
| &nbsp;&nbsp;&nbsp;**Food Products - 1.6%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Minerva Luxembourg S.A. (Brazil), 4.375%, 3/18/2031<sup>3</sup> | 25105000 | 22946302 |
| **Total Consumer Staples** |  | 44232632 |
| **Energy - 8.8%** |  |  |
| &nbsp;&nbsp;&nbsp;**Energy Equipment & Services - 2.1%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Borr IHC Ltd. - Borr Finance LLC (Mexico), 10.00%, 11/15/2028<sup>3</sup> | 13710646 | 13642527 |
| &nbsp;&nbsp;&nbsp;&nbsp;SESI LLC, 7.875%, 9/30/2030<sup>3</sup> | 17960000 | 17916387 |
|  |  | 31558914 |
| &nbsp;&nbsp;&nbsp;**Oil, Gas & Consumable Fuels - 6.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Brooge Petroleum and Gas Investment Co. FZE (United Arab Emirates), 8.50%, 11/30/2025 (Acquired 09/10/2020-09/24/2025, cost $10,109,041)<sup>4</sup> | 11220941 | 10672688 |
| &nbsp;&nbsp;&nbsp;&nbsp;Kinetik Holdings LP, 6.625%, 12/15/2028<sup>3</sup> | 11840000 | 12159907 |
| &nbsp;&nbsp;&nbsp;&nbsp;New Fortress Energy, Inc., 8.75%, 3/15/2029 (Acquired 03/21/2024- 09/23/2024, cost $17,399,143)<sup>4</sup> | 19325000 | 3230881 |
| &nbsp;&nbsp;&nbsp;&nbsp;NGL Energy Operating LLC - NGL Energy Finance Corp., 8.375%, 2/15/2032<sup>3</sup> | 20900000 | 21454976 |
| &nbsp;&nbsp;&nbsp;&nbsp;Summit Midstream Holdings LLC, 8.625%, 10/31/2029<sup>3</sup> | 21175000 | 21278647 |
| &nbsp;&nbsp;&nbsp;&nbsp;Venture Global LNG, Inc., 9.50%, 2/1/2029<sup>3</sup> | 27595000 | 30425947 |
|  |  | 99223046 |
| **Total Energy** |  | 130781960 |
| **Financials - 30.4%** |  |  |
| &nbsp;&nbsp;&nbsp;**Banks - 1.6%** |  |  |
| &nbsp;&nbsp;&nbsp;Popular, Inc. (Puerto Rico), 7.25%, 3/13/2028 | 13545000 | 14155678 |
| &nbsp;&nbsp;&nbsp;The Bancorp, Inc., 7.375%, 9/1/2030 | 9950000 | 10210309 |
|  |  | 24365987 |
| &nbsp;&nbsp;&nbsp;**Capital Markets - 7.0%** |  |  |
| &nbsp;&nbsp;&nbsp;BGC Group, Inc., 6.60%, 6/10/2029 | 26035000 | 27111532 |
| &nbsp;&nbsp;&nbsp;&nbsp;Drawbridge Special Opportunities Fund LP - Drawbridge Special Opportunities Finance, 5.95%, 9/17/2030<sup>3</sup> | 22315000 | 21780918 |
| &nbsp;&nbsp;&nbsp;Icahn Enterprises LP - Icahn Enterprises Finance Corp., 9.00%, 6/15/2030 | 21820000 | 21027868 |
| &nbsp;&nbsp;&nbsp;&nbsp;Jane Street Group - JSG Finance, Inc., 6.75%, 5/1/2033<sup>3</sup> | 13325000 | 13846630 |

---

**1** 

**Investment Portfolio - September 30, 2025**<br> (unaudited)

---

| | | |
|:---|:---|:---|
| HIGH YIELD BOND SERIES | PRINCIPAL<br> AMOUNT<sup>1</sup>/<br> SHARES | VALUE |
| **CORPORATE BONDS** (continued) |  |  |
| **Non-Convertible Corporate Bonds** (continued) |  |  |
| **Financials** (continued) |  |  |
| &nbsp;&nbsp;&nbsp;**Capital Markets** (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;StoneX Escrow Issuer LLC, 6.875%, 7/15/2032<sup>3</sup> | 20255000 | $20863616 |
|  |  | 104630564 |
| &nbsp;&nbsp;&nbsp;**Consumer Finance - 5.9%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Jefferson Capital Holdings LLC, 8.25%, 5/15/2030<sup>3</sup> | 19380000 | 20326287 |
| &nbsp;&nbsp;&nbsp;Navient Corp., 7.875%, 6/15/2032 | 19910000 | 20983607 |
| &nbsp;&nbsp;&nbsp;&nbsp;PRA Group, Inc., 8.875%, 1/31/2030<sup>3</sup> | 22035000 | 22742408 |
| &nbsp;&nbsp;&nbsp;SLM Corp., 6.50%, 1/31/2030 | 22390000 | 23338881 |
|  |  | 87391183 |
| &nbsp;&nbsp;&nbsp;**Financial Services - 8.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Burford Capital Global Finance LLC, 7.50%, 7/15/2033<sup>3</sup> | 21175000 | 21578847 |
| &nbsp;&nbsp;&nbsp;&nbsp;Clear Street Holdings LLC, 8.00%, 9/30/2030<sup>3</sup> | 14000000 | 13937421 |
| &nbsp;&nbsp;&nbsp;&nbsp;Encore Capital Group, Inc., 6.625%, 4/15/2031<sup>3</sup> | 22655000 | 22581691 |
| &nbsp;&nbsp;&nbsp;&nbsp;Oxford Finance LLC - Oxford Finance Co-Issuer II, Inc., 6.375%, 2/1/2027<sup>3</sup> | 16690000 | 16691007 |
| &nbsp;&nbsp;&nbsp;&nbsp;PHH Escrow Issuer LLC - PHH Corp., 9.875%, 11/1/2029<sup>3</sup> | 15940000 | 16152464 |
| &nbsp;&nbsp;&nbsp;&nbsp;Provident Funding Associates LP - PFG Finance Corp., 9.75%, 9/15/2029<sup>3</sup> | 13100000 | 13857212 |
| &nbsp;&nbsp;&nbsp;&nbsp;UWM Holdings LLC, 6.625%, 2/1/2030<sup>3</sup> | 16450000 | 16734766 |
| &nbsp;&nbsp;&nbsp;&nbsp;Velocity Portfolio Group, Inc., 9.75%, 3/1/2033 (Acquired 02/07/2025, cost $7,000,000)<sup>4</sup> | 7000000 | 7170678 |
|  |  | 128704086 |
| &nbsp;&nbsp;&nbsp;**Insurance - 4.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;APH Somerset Investor 2 LLC - APH2 Somerset Investor 2 LLC - APH3 Somerset Investor, 7.875%, 11/1/2029<sup>3</sup> | 28095000 | 29314471 |
| &nbsp;&nbsp;&nbsp;F&G Annuities & Life, Inc., 6.50%, 6/4/2029 | 19055000 | 19878433 |
| &nbsp;&nbsp;&nbsp;SiriusPoint Ltd. (Sweden), 7.00%, 4/5/2029 | 19525000 | 20644238 |
|  |  | 69837142 |
| &nbsp;&nbsp;&nbsp;**Mortgage Real Estate Investment Trusts (REITS) - 2.5%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Arbor Realty SR, Inc., <br> 9.00%, 10/15/2027<sup>3</sup> | 6000000 | 5944685 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.875%, 7/15/2030<sup>3</sup> | 15605000 | 16409307 |
| &nbsp;&nbsp;&nbsp;&nbsp;Starwood Property Trust, Inc., <br> 5.25%, 10/15/2028<sup>3</sup> | 12921000 | 12922698 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 1/15/2031<sup>3</sup> | 2370000 | 2363374 |
|  |  | 37640064 |
| **Total Financials** |  | 452569026 |
| **Health Care - 12.4%** |  |  |
| &nbsp;&nbsp;&nbsp;**Health Care Equipment & Supplies - 0.9%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Teleflex, Inc., 4.25%, 6/1/2028<sup>3</sup> | 13585000 | 13265883 |

---

---

| | | |
|:---|:---|:---|
|  | PRINCIPAL<br> AMOUNT<sup>1</sup>/<br> SHARES | VALUE |
| **CORPORATE BONDS** (continued) |  |  |
| **Non-Convertible Corporate Bonds** (continued) |  |  |
| **Health Care** (continued) |  |  |
| &nbsp;&nbsp;&nbsp;**Health Care Providers & Services - 6.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;AdaptHealth LLC, 4.625%, 8/1/2029<sup>3</sup> | 22175000 | $21062559 |
| &nbsp;&nbsp;&nbsp;&nbsp;Owens & Minor, Inc., 6.625%, 4/1/2030<sup>3</sup> | 31651000 | 26096489 |
| &nbsp;&nbsp;&nbsp;&nbsp;Prime Healthcare Services, Inc., 9.375%, 9/1/2029<sup>3</sup> | 19985000 | 20790688 |
| &nbsp;&nbsp;&nbsp;&nbsp;Radiology Partners, Inc., 8.50%, 7/15/2032<sup>3</sup> | 20480000 | 21301809 |
|  |  | 89251545 |
| &nbsp;&nbsp;&nbsp;**Life Science Tools & Service - 1.4%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Star Parent, Inc., 9.00%, 10/1/2030<sup>3</sup> | 19750000 | 20918736 |
| &nbsp;&nbsp;&nbsp;**Pharmaceuticals - 4.1%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Amneal Pharmaceuticals LLC, 6.875%, 8/1/2032<sup>3</sup> | 10745000 | 11121892 |
| &nbsp;&nbsp;&nbsp;&nbsp;Harrow, Inc., 8.625%, 9/15/2030<sup>3</sup> | 20660000 | 21483558 |
| &nbsp;&nbsp;&nbsp;&nbsp;Organon & Co. - Organon Foreign Debt Co-Issuer B.V., 5.125%, 4/30/2031<sup>3</sup> | 32875000 | 28764520 |
|  |  | 61369970 |
| **Total Health Care** |  | 184806134 |
| **Industrials - 11.5%** |  |  |
| &nbsp;&nbsp;&nbsp;**Commercial Services & Supplies - 3.1%** |  |  |
| &nbsp;&nbsp;&nbsp;CoreCivic, Inc., 4.75%, 10/15/2027 | 17353000 | 17154252 |
| &nbsp;&nbsp;&nbsp;&nbsp;Matthews International Corp., 8.625%, 10/1/2027<sup>3</sup> | 15350000 | 15881849 |
| &nbsp;&nbsp;&nbsp;&nbsp;Prime Security Services Borrower LLC - Prime Finance, Inc., 3.375%, 8/31/2027<sup>3</sup> | 13288000 | 12914838 |
|  |  | 45950939 |
| &nbsp;&nbsp;&nbsp;**Electrical Equipment - 1.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Atkore, Inc., 4.25%, 6/1/2031<sup>3</sup> | 20220000 | 18863980 |
| &nbsp;&nbsp;&nbsp;**Ground Transportation - 1.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Beacon Mobility Corp., 7.25%, 8/1/2030<sup>3</sup> | 14120000 | 14690741 |
| &nbsp;&nbsp;&nbsp;**Machinery - 0.4%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Mueller Water Products, Inc., 4.00%, 6/15/2029<sup>3</sup> | 5884000 | 5669065 |
| &nbsp;&nbsp;&nbsp;**Marine Transportation - 3.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Contships Logistics Corp. (Greece), 9.00%, 2/11/2030 | 14750000 | 14909600 |
| &nbsp;&nbsp;&nbsp;International Seaways, Inc., 7.125%, 9/23/2030 | 21500000 | 21383681 |
| &nbsp;&nbsp;&nbsp;&nbsp;Navios South American Logistics, Inc. (Uruguay), 8.875%, 7/14/2030<sup>3</sup> | 12800000 | 13330563 |
|  |  | 49623844 |
| &nbsp;&nbsp;&nbsp;**Passenger Airlines - 2.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;American Airlines, Inc. - AAdvantage Loyalty IP Ltd., 5.75%, 4/20/2029<sup>3</sup> | 20330000 | 20411501 |
| &nbsp;&nbsp;&nbsp;United Airlines Pass-Through Trust, Series 2018-1, Class B, 4.60%, 3/1/2026 | 8483327 | 8451194 |

---

**2** 

**Investment Portfolio - September 30, 2025**<br> (unaudited)

---

| | | |
|:---|:---|:---|
| HIGH YIELD BOND SERIES | PRINCIPAL<br> AMOUNT<sup>1</sup>/<br> SHARES | VALUE |
| **CORPORATE BONDS** (continued) |  |  |
| **Non-Convertible Corporate Bonds** (continued) |  |  |
| **Industrials** (continued) |  |  |
| &nbsp;&nbsp;&nbsp;**Passenger Airlines** (continued) |  |  |
| &nbsp;&nbsp;&nbsp;United Airlines Pass-Through Trust, (continued) Series 2019-2, Class B, 3.50%, 5/1/2028 | 3571944 | $3452896 |
|  |  | 32315591 |
| &nbsp;&nbsp;&nbsp;**Trading Companies & Distributors - 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Airborne Capital USA LLC, 10.50%, 8/2/2029 | 5000000 | 4158674 |
| **Total Industrials** |  | 171272834 |
| **Information Technology - 1.0%** |  |  |
| &nbsp;&nbsp;&nbsp;**Communications Equipment - 1.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Connect Finco S.A.R.L - Connect U.S. Finco LLC (United Kingdom), 9.00%, 9/15/2029<sup>3</sup> | 13535000 | 14225291 |
| **Materials - 9.6%** |  |  |
| &nbsp;&nbsp;&nbsp;**Chemicals - 1.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cerdia Finanz GmbH (Germany), 9.375%, 10/3/2031<sup>3</sup> | 16640000 | 17618642 |
| &nbsp;&nbsp;&nbsp;**Containers & Packaging - 2.4%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Graphic Packaging International LLC, 3.50%, 3/15/2028<sup>3</sup> | 14898000 | 14396406 |
| &nbsp;&nbsp;&nbsp;&nbsp;OI European Group B.V., 4.75%, 2/15/2030<sup>3</sup> | 22185000 | 21177765 |
|  |  | 35574171 |
| &nbsp;&nbsp;&nbsp;**Metals & Mining - 4.8%** |  |  |
| &nbsp;&nbsp;&nbsp;ACG Holdco 1 plc (United Kingdom), 14.75%, 1/13/2029 | 16000000 | 17418525 |
| &nbsp;&nbsp;&nbsp;&nbsp;Alcoa Nederland Holding B.V., 4.125%, 3/31/2029<sup>3</sup> | 11264000 | 10902459 |
| &nbsp;&nbsp;&nbsp;&nbsp;Endeavour Mining plc (CÃ´te d'Ivoire), 7.00%, 5/28/2030<sup>3</sup> | 20540000 | 21187894 |
| &nbsp;&nbsp;&nbsp;&nbsp;Nickel Industries Ltd. (Indonesia), 9.00%, 9/30/2030<sup>3</sup> | 22065000 | 22406175 |
| &nbsp;&nbsp;&nbsp;&nbsp;Northwest Acquisitions ULC - Dominion Finco, Inc., 7.125%, 11/1/2022 (Acquired 10/10/2017-05/15/2020, cost $1,518,841)<sup>4,5</sup> | 6535000 | 66 |
|  |  | 71915119 |
| &nbsp;&nbsp;&nbsp;**Paper & Forest Products - 1.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Magnera Corp., 7.25%, 11/15/2031<sup>3</sup> | 19460000 | 18317895 |
| **Total Materials** |  |  |
|  |  | 143425827 |
| **Real Estate - 2.1%** |  |  |
| &nbsp;&nbsp;&nbsp;**Industrial REITs - 0.4%** |  |  |
| &nbsp;&nbsp;&nbsp;IIP Operating Partnership LP, 5.50%, 5/25/2026 | 5455000 | 5402032 |

---

---

| | | |
|:---|:---|:---|
|  | PRINCIPAL<br> AMOUNT<sup>1</sup>/<br> SHARES | VALUE |
| **CORPORATE BONDS** (continued) |  |  |
| **Non-Convertible Corporate Bonds** (continued) |  |  |
| **Real Estate** (continued) |  |  |
| &nbsp;&nbsp;&nbsp;**Real Estate Management & Development - 1.4%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Five Point Operating Co. LP, 8.00%, 10/1/2030<sup>3</sup> | 21410000 | $21729181 |
| &nbsp;&nbsp;&nbsp;**Specialized REITs - 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Pelorus Fund REIT LLC, 7.00%, 9/30/2026 (Acquired 09/21/2021- 07/08/2022, cost $4,114,250)<sup>4</sup> | 4355000 | 4338561 |
| **Total Real Estate** |  | 31469774 |
| **Utilities - 3.8%** |  |  |
| &nbsp;&nbsp;&nbsp;**Electric Utilities - 2.3%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Alexander Funding Trust II, 7.467%, 7/31/2028<sup>3</sup> | 12540000 | 13408106 |
| &nbsp;&nbsp;&nbsp;&nbsp;Atlantica Sustainable Infrastructure Ltd. (Spain), 4.125%, 6/15/2028<sup>3</sup> | 21326000 | 20836357 |
|  |  | 34244463 |
| &nbsp;&nbsp;&nbsp;**Independent Power and Renewable Electricity Producers - 1.5%** | &nbsp;&nbsp;&nbsp;**Independent Power and Renewable Electricity Producers - 1.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;TerraForm Power Operating LLC, 4.75%, 1/15/2030<sup>3</sup> | 22487000 | 21734537 |
| **Total Utilities** |  | 55979000 |
| **TOTAL CORPORATE BONDS** |  |  |
| &nbsp;&nbsp;&nbsp;(Identified Cost $1,463,447,787) |  | **1459355810** |
| **ASSET-BACKED SECURITIES - 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Oxford Finance Funding Trust, Series 2023-1A, Class A2, 6.716%, 2/15/2031<sup>3</sup> |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Identified Cost $3,168,837) | 3168838 | **3187886** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES - 0.0%##** | **COMMERCIAL MORTGAGE-BACKED SECURITIES - 0.0%##** |  |
| &nbsp;&nbsp;&nbsp;PCG LLC, Series 2023-1, (1 mo. U.S. Secured Overnight Financing Rate + 6.000%), 10.158%, 7/25/2029 (Acquired 07/24/2023, cost $181,192)<sup>2,4</sup> |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Identified Cost $181,192) | 181192 | **181175** |
| **SHORT-TERM INVESTMENT - 3.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Dreyfus Government Cash Management, Institutional Shares, 4.04%<sup>6</sup> |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Identified Cost $48,641,585) | 48641585 | **48641585** |
| **TOTAL INVESTMENTS - 102.8%** |  |  |
| &nbsp;&nbsp;&nbsp;(Identified Cost $1,533,277,657) |  | **1529256354** |
| **LIABILITIES, LESS OTHER ASSETS - (2.8%)** |  | **(42139644)** |
| **NET ASSETS - 100%** |  | $**1487116710** |

---

**3** 

**Investment Portfolio - September 30, 2025**<br> (unaudited)

REIT - Real Estate Investment Trust

## Less than 0.1%.

<sup>1</sup>Amount is stated in USD unless otherwise noted.

<sup>2</sup>Floating rate security. Rate shown is the rate in effect as of September 30, 2025.

<sup>3</sup>Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the "1933 Act") and determined to be liquid under the Fund's Liquidity Risk Management Program. The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at September 30, 2025 was $1,164,711,821, which represented 78.3% of the Series' Net Assets.

<sup>4</sup>Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the "1933 Act") and determined to be illiquid under the Fund's Liquidity Risk Management Program. The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of such securities at September 30, 2025 was $25,594,049, or 1.7% of the Series' Net Assets.

<sup>5</sup>Issuer filed for bankruptcy and/or is in default of interest payments.

<sup>6</sup>Rate shown is the current yield as of September 30, 2025.

The Global Industry Classification Standard (GICS) was developed by and is the exclusive property and a service mark of MSCI Inc. (MSCI) and Standard & Poor's, a division of S&P Global Inc. (S&P), and is licensed for use by Manning & Napier when referencing GICS sectors. Neither MSCI, S&P, nor any third party involved in making or compiling the GICS or any GICS classifications makes any express or implied warranties or representations with respect to such standard or classification, nor shall any such party have any liability therefrom.

**Fair Value Information:**

Various inputs are used in determining the value of the Series' assets or liabilities carried at fair value. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical assets and liabilities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.). Level 3 includes significant unobservable inputs (including the Series' own assumptions in determining the fair value of investments). A financial instrument's level within the fair value hierarchy is based on the lowest level of any input both individually and in aggregate that is significant to the fair value measurement. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The following is a summary of the valuation levels used for major security types as of September 30, 2025 in valuing the Series' assets or liabilities carried at fair value:

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;DESCRIPTION | TOTAL | LEVEL 1 | LEVEL 2 | LEVEL 3 |
| &nbsp;&nbsp;&nbsp;Assets: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Debt securities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loan Assignments | $17889898 | $**—** | $17889898 | $**—** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate debt: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communication Services | 107609547 |  | 107609547 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer Discretionary | 122983785 |  | 122983785 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer Staples | 44232632 |  | 44232632 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Energy | 130781960 |  | 130781960 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financials | 452569026 |  | 452569026 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health Care | 184806134 |  | 184806134 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industrials | 171272834 |  | 171272834 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Information Technology | 14225291 |  | 14225291 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Materials | 143425827 |  | 143425827 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Real Estate | 31469774 |  | 31469774 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Utilities | 55979000 |  | 55979000 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset-backed securities | 3187886 |  | 3187886 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial mortgage-backed securities | 181175 |  | 181175 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-Term Investment | 48641585 | 48641585 |  |  |
| &nbsp;&nbsp;&nbsp;Total assets | $1529256354 | $48641585 | $1480614769 | $— |

---

There were no Level 3 securities held by the Series as of December 31, 2024 or September 30, 2025.

**4** 

**Investment Portfolio - September 30, 2025**

(unaudited)

The Investment Portfolio should be read in conjunction with the financial statements and notes to financial statements, which are included in the Series' audited annual report or unaudited semi-annual report. These reports include additional information about the Series' security valuation policies and about certain security types invested in by the Series.

**5**

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Manning & Napier Fund, Inc.

- **b. Investment Company Act file number:** 811-04087

- **c. CIK number of Registrant:** 0000751173

- **d. LEI of Registrant:** 549300B31SDCBSJSN672

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

  - **Street Address 1:** 290 Woodcliff Drive

  - **City:** Fairport

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 14450

  - **Telephone number:** 585-325-6880

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

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

- **b. EDGAR series identifier (if any):** S000003634

- **c. LEI of Series:** 5493000VQ6DXRDU0N128

**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:** $1566188920.80

**Total Liabilities:** $79278566.87

**Net Assets:** $1486910353.93

**Delayed Delivery Securities:** $41889448.75

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 274.31453000 | **1-Year:** 21018.34261000 | **5-Year:** 37629.02653000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

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

- **3-Month:** 912.68276000 | **1-Year:** 145407.99606000 | **5-Year:** 243204.90254000 | **10-Year:** 112.12154000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000206450 | 0.54%                | 1.45%                | 0.73%                |
| Class ID C000116786 | 0.39%                | 1.40%                | 0.69%                |
| Class ID C000206449 | 0.50%                | 1.41%                | 0.70%                |
| Class ID C000010100 | 0.36%                | 1.37%                | 0.66%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $2691216.47              | $-5565999.07                               |
| Month 2  | $-35084.46               | $11598819.24                               |
| Month 3  | $4286705.78              | $-2706036.21                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| MILLICOM INTL CELLULAR             | Millicom International Cellular SA                                               | CUSIP: 600814AR8<br>LEI: 549300CTHC1CP86P2G96 | Long             | DBT              | CORP              | LU        |  19345000 | PA      | $18295026.88  | 1.23%             | 2031-04-27      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ALCOA NEDERLAND HOLDING            | Alcoa Nederland Holding BV                                                       | CUSIP: 013822AG6<br>LEI: 5493000UL1QLQLT1VQ42 | Long             | DBT              | CORP              | NL        |  11264000 | PA      | $10902459.32  | 0.73%             | 2029-03-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| ACG HOLDCO 1 PLC                   | ACG Holdco 1 PLC                                                                 | CUSIP: 000000000<br>LEI: 9845008FS09985054W54 | Long             | DBT              | CORP              | GB        |  16000000 | PA      | $17418525.20  | 1.17%             | 2029-01-13      | Fixed         | 14.75%                | No            |                  2 | On Loan: No      |
| WESTJET LOYALTY LP                 | WESTJET LOYALTY LP                                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | CA        |  17880243 | PA      | $17889898.68  | 1.20%             | 2031-02-14      | Floating      | 7.45%                 | No            |                  2 | On Loan: No      |
| IIP OPERATING PARTNER              | IIP Operating Partnership LP                                                     | CUSIP: 44988FAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5455000 | PA      | $5402031.68   | 0.36%             | 2026-05-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MAGNERA CORP                       | Magnera Corp                                                                     | CUSIP: 55939AAA5<br>LEI: 549300LDQLQBT38QDY28 | Long             | DBT              | CORP              | US        |  19460000 | PA      | $18317894.50  | 1.23%             | 2031-11-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| PHH ESCROW ISS LCC/PHH C           | PHH Escrow Issuer LLC/PHH Corp                                                   | CUSIP: 716964AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  15940000 | PA      | $16152463.80  | 1.09%             | 2029-11-01      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| ORGANON & CO/ORGANON FOR           | Organon & Co / Organon Foreign Debt Co-Issuer BV                                 | CUSIP: 68622TAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  32875000 | PA      | $28764520.41  | 1.93%             | 2031-04-30      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC           | Ford Motor Credit Co LLC                                                         | CUSIP: 345397C68<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |  13565000 | PA      | $14517601.09  | 0.98%             | 2030-03-06      | Fixed         | 7.35%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC             | Venture Global LNG Inc                                                           | CUSIP: 92332YAC5<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |  27595000 | PA      | $30425946.96  | 2.05%             | 2029-02-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| F&G ANNUITIES & LIFE INC           | F&G Annuities & Life Inc                                                         | CUSIP: 30190AAF1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  19055000 | PA      | $19878432.93  | 1.34%             | 2029-06-04      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| AMNEAL PHARMACEUTICALS L           | Amneal Pharmaceuticals LLC                                                       | CUSIP: 03168LAA3<br>LEI: 54930037VIXE7LRZ1M66 | Long             | DBT              | CORP              | US        |  13745000 | PA      | $14227120.50  | 0.96%             | 2032-08-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| OWENS & MINOR INC                  | Owens & Minor Inc                                                                | CUSIP: 690732AG7<br>LEI: 549300LMT5KQQXCEZ733 | Long             | DBT              | CORP              | US        |  31651000 | PA      | $26096488.43  | 1.76%             | 2030-04-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| DRAWBRIDGE SPEC OPPOR FU           | Drawbridge Special Opportunities Fund LP / Drawbridge Special Opportunities Fin  | CUSIP: 26150TAF6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  22315000 | PA      | $21780917.66  | 1.46%             | 2030-09-17      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| PCG LLC                            | PCG 2023-1 LLC                                                                   | CUSIP: 70461JAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    181192 | PA      | $181175.10    | 0.01%             | 2029-07-25      | Floating      | 10.16%                | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST            | Starwood Property Trust Inc                                                      | CUSIP: 85571BBF1<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |  15291000 | PA      | $15293010.25  | 1.03%             | 2028-10-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BEACON MOBILITY CORP               | Beacon Mobility Corp                                                             | CUSIP: 073644AA4<br>LEI: 254900EBTYFG24UQEM31 | Long             | DBT              | CORP              | US        |  14120000 | PA      | $14690741.56  | 0.99%             | 2030-08-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| GRAPHIC PACKAGING INTERN           | Graphic Packaging International LLC                                              | CUSIP: 38869AAB3<br>LEI: SO75N4VY5NXGQSK8YQ65 | Long             | DBT              | CORP              | US        |  14898000 | PA      | $14396406.51  | 0.97%             | 2028-03-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| AFFINITY INTERACTIVE               | Affinity Interactive                                                             | CUSIP: 00842XAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  28295000 | PA      | $15678373.42  | 1.05%             | 2027-12-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| BGC GROUP INC                      | BGC Group Inc                                                                    | CUSIP: 05555LAB7<br>LEI: 2549001IGRCG4F0RLD36 | Long             | DBT              | CORP              | US        |  26035000 | PA      | $27111532.21  | 1.82%             | 2029-06-10      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| UNITED AIR 2018-1 B PTT            | United Airlines 2018-1 Class B Pass Through Trust                                | CUSIP: 90932NAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8483327 | PA      | $8451193.69   | 0.57%             | 2026-03-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| PELORUS FUND REIT LLC              | Pelorus Fund REIT LLC                                                            | CUSIP: 70615PAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4355000 | PA      | $4338560.50   | 0.29%             | 2026-09-30      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| NORTHWEST ACQ/DOMINION             | Northwest Acquisitions ULC / Dominion Finco Inc                                  | CUSIP: 66727WAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   6535000 | PA      | $65.35        | 0.00%             | 2022-11-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| THE BANCORP INC                    | Bancorp Inc/The                                                                  | CUSIP: 05969AAB1<br>LEI: 894500FP2ICT1B019Y71 | Long             | DBT              | CORP              | US        |   9950000 | PA      | $10210308.71  | 0.69%             | 2030-09-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| HARROW INC                         | Harrow Inc                                                                       | CUSIP: 415858AC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  20660000 | PA      | $21483557.65  | 1.44%             | 2030-09-15      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| CORECIVIC INC                      | CoreCivic Inc                                                                    | CUSIP: 21871NAA9<br>LEI: 529900JFA3K6PTLT8B15 | Long             | DBT              | CORP              | US        |  17353000 | PA      | $17154252.25  | 1.15%             | 2027-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ALEXANDER FUND TRUST II            | Alexander Funding Trust II                                                       | CUSIP: 014916AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  12540000 | PA      | $13408106.14  | 0.90%             | 2028-07-31      | Fixed         | 7.47%                 | No            |                  2 | On Loan: No      |
| APH/APH2/APH3/AQUARIAN             | APH Somerset Investor 2 LLC / APH2 Somerset Investor 2 LLC / APH3 Somerset Inves | CUSIP: 00188QAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  28095000 | PA      | $29314471.35  | 1.97%             | 2029-11-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| KINETIK HOLDINGS LP                | Kinetik Holdings LP                                                              | CUSIP: 49461MAB6<br>LEI: 549300RD6AJIMYC0HY12 | Long             | DBT              | CORP              | US        |  13800000 | PA      | $14172864.23  | 0.95%             | 2028-12-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| PRIME HEALTHCARE SERVICE           | Prime Healthcare Services Inc                                                    | CUSIP: 74165HAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  19985000 | PA      | $20790688.00  | 1.40%             | 2029-09-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| ENCORE CAPITAL GROUP INC           | Encore Capital Group Inc                                                         | CUSIP: 292554AS1<br>LEI: 5493000UVC6H49CIH830 | Long             | DBT              | CORP              | US        |  22655000 | PA      | $22581691.18  | 1.52%             | 2031-04-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| SUMMIT MIDSTREAM HOLDING           | Summit Midstream Holdings LLC                                                    | CUSIP: 86614JAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  21175000 | PA      | $21278646.46  | 1.43%             | 2029-10-31      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| BROOGE PETROLEUM AND GAS           | Brooge Petroleum and Gas Investment Co FZE                                       | CUSIP: 000000000<br>LEI: 213800T6YBVV45KTOC07 | Long             | DBT              | CORP              | AE        |  11220941 | PA      | $10672687.67  | 0.72%             | 2025-11-30      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO LLC                | Sirius XM Radio LLC                                                              | CUSIP: 82967NBM9<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |  18495000 | PA      | $16766790.53  | 1.13%             | 2031-09-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| ARBOR REALTY SR INC                | Arbor Realty SR Inc                                                              | CUSIP: 03881NAJ6<br>LEI: 549300TW7RTL2CI3CN08 | Long             | DBT              | CORP              | US        |  15605000 | PA      | $16409307.00  | 1.10%             | 2030-07-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| PRA GROUP INC                      | PRA Group Inc                                                                    | CUSIP: 69354NAF3<br>LEI: 549300Q5HW3JSSB86K27 | Long             | DBT              | CORP              | US        |  22035000 | PA      | $22742408.12  | 1.53%             | 2030-01-31      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| CERDIA FINANZ GMBH                 | Cerdia Finanz GmbH                                                               | CUSIP: 15679GAC6<br>LEI: 391200KURNDJSX9GX570 | Long             | DBT              | CORP              | DE        |  16640000 | PA      | $17618642.31  | 1.18%             | 2031-10-03      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| STONEX ESCROW ISSUER LLC           | Stonex Escrow Issuer LLC                                                         | CUSIP: 86189AAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  20255000 | PA      | $20863616.02  | 1.40%             | 2032-07-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CONTSHIPS LOGISTICS CORP           | Contships Logistics Corp                                                         | CUSIP: 000000000<br>LEI: 5299008CWR6YALKEN578 | Long             | DBT              | CORP              | MH        |  14750000 | PA      | $14909599.77  | 1.00%             | 2030-02-11      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES/AADVAN           | American Airlines Inc/AAdvantage Loyalty IP Ltd                                  | CUSIP: 00253XAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |  20330000 | PA      | $20411500.85  | 1.37%             | 2029-04-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NEW FORTRESS ENERGY INC            | New Fortress Energy Inc                                                          | CUSIP: 644393AC4<br>LEI: 254900EICTYTCHA5X705 | Long             | DBT              | CORP              | US        |  19325000 | PA      | $3230881.21   | 0.22%             | 2029-03-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| AIRBORNE CAPITAL USA LLC           | Airborne Capital USA LLC                                                         | CUSIP: 009263AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4158673.70   | 0.28%             | 2029-08-02      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| VELOCITY PORTFOLIO GROUP           | Velocity Portfolio Group Inc                                                     | CUSIP: 92257EAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7000000 | PA      | $7170677.46   | 0.48%             | 2033-03-01      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| MINERVA LUXEMBOURG SA              | Minerva Luxembourg SA                                                            | CUSIP: 603374AF6<br>LEI: 222100NM3G3RCPGZ2Z17 | Long             | DBT              | CORP              | LU        |  25105000 | PA      | $22946302.10  | 1.54%             | 2031-03-18      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| MUELLER WATER PRODUCTS             | Mueller Water Products Inc                                                       | CUSIP: 624758AF5<br>LEI: 549300F7ZU4P1F8V8L60 | Long             | DBT              | CORP              | US        |   7384000 | PA      | $7114271.46   | 0.48%             | 2029-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RADIOLOGY PARTNERS INC             | Radiology Partners Inc                                                           | CUSIP: 75041VAE4<br>LEI: 549300SFTAG2177WUZ08 | Long             | DBT              | CORP              | US        |  20480000 | PA      | $21301808.98  | 1.43%             | 2032-07-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| SLM CORP                           | SLM Corp                                                                         | CUSIP: 78442PGF7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  22390000 | PA      | $23338880.36  | 1.57%             | 2030-01-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| NICKEL INDUSTRIES LTD              | Nickel Industries Ltd                                                            | CUSIP: 653890AB9<br>LEI: 54930007K0WX53TSIK16 | Long             | DBT              | CORP              | AU        |  14690000 | PA      | $14917140.83  | 1.00%             | 2030-09-30      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| CONNECT FINCO SARL/CONNE           | Connect Finco SARL / Connect US Finco LLC                                        | CUSIP: 20752TAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |  19535000 | PA      | $20531294.30  | 1.38%             | 2029-09-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| ATKORE INC                         | Atkore Inc                                                                       | CUSIP: 047649AA6<br>LEI: 52990002TI38AM4RPV48 | Long             | DBT              | CORP              | US        |  20220000 | PA      | $18863979.64  | 1.27%             | 2031-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CLEAR STREET HOLDINGS              | CLEAR STREET HOLDINGS LLC                                                        | CUSIP: 18469LAE9<br>LEI: 254900NQWA30C6L3G919 | Long             | DBT              | CORP              | US        |  14000000 | PA      | $13937421.33  | 0.94%             | 2030-09-30      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| ADAMS HOMES INC                    | Adams Homes Inc                                                                  | CUSIP: 00623PAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  13910000 | PA      | $14494607.98  | 0.97%             | 2028-10-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| ENDEAVOUR MINING PLC               | Endeavour Mining PLC                                                             | CUSIP: 29261HAB1<br>LEI: 529900NI5MXQ91GHXR07 | Long             | DBT              | CORP              | GB        |  20540000 | PA      | $21187893.82  | 1.42%             | 2030-05-28      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| OI EUROPEAN GROUP BV               | OI European Group BV                                                             | CUSIP: 67777LAD5<br>LEI: 72450053F5WRDY8CDZ66 | Long             | DBT              | CORP              | NL        |  22185000 | PA      | $21177764.89  | 1.42%             | 2030-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| TERRAFORM POWER OPERATIN           | TerraForm Power Operating LLC                                                    | CUSIP: 88104LAG8<br>LEI: 5493000S2OLR3UT5BE13 | Long             | DBT              | CORP              | US        |  22487000 | PA      | $21734537.61  | 1.46%             | 2030-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Dreyfus Government Cash Management | Dreyfus Government Cash Management                                               | CUSIP: 262006208<br>LEI: 5493000Q69I5Q3QZIA91 | Long             | STIV             | RF                | US        |  62776807 | NS      | $62776807.17  | 4.22%             |  |  |  | No            |                  1 | On Loan: No      |
| ZIFF DAVIS INC                     | Ziff Davis Inc                                                                   | CUSIP: 48123VAF9<br>LEI: 5493008OJYGLHD7MXA18 | Long             | DBT              | CORP              | US        |  19895000 | PA      | $18776988.02  | 1.26%             | 2030-10-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| PRIME SECSRVC BRW/FINANC           | Prime Security Services Borrower LLC / Prime Finance Inc                         | CUSIP: 74166MAF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  13288000 | PA      | $12914837.95  | 0.87%             | 2027-08-31      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| FIVE POINT OPERATING CO            | Five Point Operating Co LP                                                       | CUSIP: 33834YAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  21410000 | PA      | $21729181.37  | 1.46%             | 2030-10-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN AXLE & MFG INC            | American Axle & Manufacturing Inc                                                | CUSIP: 02406PBC3<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |  21815000 | PA      | $21777649.26  | 1.46%             | 2032-10-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| NAVIENT CORP                       | Navient Corp                                                                     | CUSIP: 63938CAQ1<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |  19910000 | PA      | $20983606.82  | 1.41%             | 2032-06-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                      | Carnival Corp                                                                    | CUSIP: 143658BZ4<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |  13540000 | PA      | $13885127.08  | 0.93%             | 2031-06-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| INTERNATIONAL SEAWAYS IN           | International Seaways Inc                                                        | CUSIP: 46032VAC0<br>LEI: 549300YUFDGFRNGBWF46 | Long             | DBT              | CORP              | MH        |  21500000 | PA      | $21383681.54  | 1.44%             | 2030-09-23      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| C&S GROUP ENTERPRISES LL           | C&S Group Enterprises LLC                                                        | CUSIP: 12467AAF5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  23530000 | PA      | $21286330.18  | 1.43%             | 2028-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SP CRUISES INTERMEDIATE            | SP Cruises Intermediate Ltd                                                      | CUSIP: 000000000<br>LEI: 2549001UGAS65A7Y0678 | Long             | DBT              | CORP              | BM        |  14000000 | PA      | $13271265.96  | 0.89%             | 2030-03-14      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| CABLE ONE INC                      | Cable One Inc                                                                    | CUSIP: 12685JAC9<br>LEI: 549300648QS85T0XSH18 | Long             | DBT              | CORP              | US        |  18910000 | PA      | $16030264.60  | 1.08%             | 2030-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OXFORD FIN LLC/CO-ISS II           | Oxford Finance LLC / Oxford Finance Co-Issuer II Inc                             | CUSIP: 69145LAC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  17190000 | PA      | $17191037.38  | 1.16%             | 2027-02-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| SIRIUSPOINT LTD                    | SiriusPoint Ltd                                                                  | CUSIP: 82969BAA0<br>LEI: 549300OGXFI85N3YZZ51 | Long             | DBT              | CORP              | BM        |  19525000 | PA      | $20644238.02  | 1.39%             | 2029-04-05      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| MATTHEWS INTERNATIONAL C           | Matthews International Corp                                                      | CUSIP: 577128AC5<br>LEI: 549300ZVC5O0ATML6U61 | Long             | DBT              | CORP              | US        |  15350000 | PA      | $15881849.12  | 1.07%             | 2027-10-01      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| ADAPTHEALTH LLC                    | AdaptHealth LLC                                                                  | CUSIP: 00653VAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  22175000 | PA      | $21062559.33  | 1.42%             | 2029-08-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| ARBOR REALTY SR INC                | Arbor Realty SR Inc                                                              | CUSIP: 03881NAG2<br>LEI: 549300TW7RTL2CI3CN08 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $5944684.56   | 0.40%             | 2027-10-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| IHS HOLDING LTD                    | IHS Holding Ltd                                                                  | CUSIP: 44963HAB1<br>LEI: 213800CLGMKL63VKTD94 | Long             | DBT              | CORP              | KY        |  19640000 | PA      | $19677715.46  | 1.32%             | 2028-11-29      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| JEFFERSON CAPITAL HOLDIN           | Jefferson Capital Holdings LLC                                                   | CUSIP: 472481AC4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  19380000 | PA      | $20326287.20  | 1.37%             | 2030-05-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| POPULAR INC                        | Popular Inc                                                                      | CUSIP: 733174AL0<br>LEI: 5493008CARDZMVQ3LO89 | Long             | DBT              | CORP              | US        |  13545000 | PA      | $14155677.72  | 0.95%             | 2028-03-13      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| UNITED AIR 2019-2 B PTT            | United Airlines 2019-2 Class B Pass Through Trust                                | CUSIP: 90932KAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3571944 | PA      | $3452896.27   | 0.23%             | 2028-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| JANE STREET GRP/JSG FIN            | Jane Street Group / JSG Finance Inc                                              | CUSIP: 47077WAE8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  13325000 | PA      | $13846630.62  | 0.93%             | 2033-05-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BURFORD CAPITAL GLBL FIN           | Burford Capital Global Finance LLC                                               | CUSIP: 12116LAG4<br>LEI: 549300JVAOO67CSCH406 | Long             | DBT              | CORP              | US        |  21175000 | PA      | $21578846.90  | 1.45%             | 2033-07-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| PROVIDENT FDG/PFG FIN              | Provident Funding Associates LP / PFG Finance Corp                               | CUSIP: 74387UAK7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  13100000 | PA      | $13857212.20  | 0.93%             | 2029-09-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| UWM HOLDINGS LLC                   | UWM Holdings LLC                                                                 | CUSIP: 903522AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  16450000 | PA      | $16734765.88  | 1.13%             | 2030-02-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Oxford Finance Funding Trust       | Oxford Finance Funding Trust 2023-1                                              | CUSIP: 69145CAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3168838 | PA      | $3187885.71   | 0.21%             | 2031-02-15      | Fixed         | 6.72%                 | No            |                  2 | On Loan: No      |
| DIRECTV FIN LLC/COINC              | Directv Financing LLC / Directv Financing Co-Obligor Inc                         | CUSIP: 25461LAD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  18055000 | PA      | $18062761.14  | 1.21%             | 2031-02-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| ATLANTICA SUSTAIN INFRA            | Atlantica Sustainable Infrastructure Ltd                                         | CUSIP: 04916WAA2<br>LEI: 549300ITBBGKJ651R879 | Long             | DBT              | CORP              | GB        |  21326000 | PA      | $20836356.69  | 1.40%             | 2028-06-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| ICAHN ENTERPRISES/FIN              | Icahn Enterprises LP / Icahn Enterprises Finance Corp                            | CUSIP: 451102CJ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  21820000 | PA      | $21027867.76  | 1.41%             | 2030-06-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| NAVIOS SOUTH AMERICAN L            | Navios South American Logistics Inc                                              | CUSIP: 000000000<br>LEI: 89450079LEE5QGJRM678 | Long             | DBT              | CORP              | MH        |  12800000 | PA      | $13330562.64  | 0.90%             | 2030-07-14      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| STAR PARENT INC                    | Star Parent Inc                                                                  | CUSIP: 855170AA4<br>LEI: 254900GRGCJYRMDRWT73 | Long             | DBT              | CORP              | US        |  19750000 | PA      | $20918735.93  | 1.41%             | 2030-10-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| MRT MID PART/MRT MID FIN           | Martin Midstream Partners LP / Martin Midstream Finance Corp                     | CUSIP: 573334AK5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  12630000 | PA      | $13436083.64  | 0.90%             | 2028-02-15      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| NGL ENRGY OP/FIN CORP              | NGL Energy Operating LLC / NGL Energy Finance Corp                               | CUSIP: 62922LAD0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  20900000 | PA      | $21454976.39  | 1.44%             | 2032-02-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| TELEFLEX INC                       | Teleflex Inc                                                                     | CUSIP: 879369AG1<br>LEI: UUL85LWXB4NGSWWXIQ25 | Long             | DBT              | CORP              | US        |  13585000 | PA      | $13265883.07  | 0.89%             | 2028-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| LGI HOMES INC                      | LGI Homes Inc                                                                    | CUSIP: 50187TAF3<br>LEI: 549300W02B4WNV8CV109 | Long             | DBT              | CORP              | US        |  23178000 | PA      | $21139160.52  | 1.42%             | 2029-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BORR IHC LTD / BORR FIN            | Borr IHC Ltd / Borr Finance LLC                                                  | CUSIP: 100018AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |  13710646 | PA      | $13642527.52  | 0.92%             | 2028-11-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |

### Signature

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

**Name of Applicant:** Manning & Napier Fund, Inc.

**Signature:** Jill Peeper

**Name of Signer:** Jill Peeper

**Title:** Principal Financial Officer and Treasurer