# EDGAR Filing Document

**Accession Number:** 0000702340
**File Stem:** 0000940400-26-020267
**Filing Date:** 2026-5
**Character Count:** 131117
**Document Hash:** 3dcbc6ea0d0e5ab81ba7fdcd4bd14cf1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-020267.hdr.sgml**: 20260521

**ACCESSION NUMBER**: 0000940400-26-020267

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260521

**DATE AS OF CHANGE**: 20260521

**PERIOD START**: 20261231

**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:** 261007358

**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 — March 31, 2026 (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%** |
| **Other ABS — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Domino's Pizza Master Issuer LLCSeries 2017-1A Class A23, 144A<br> 4.118%, 07/25/47@ | $2751 | &nbsp;&nbsp;$2732481 |
| &nbsp;&nbsp;&nbsp;Domino's Pizza Master Issuer LLCSeries 2019-1A Class A2, 144A<br> 3.668%, 10/25/49@ | &nbsp;&nbsp;&nbsp;2127 | &nbsp;&nbsp;&nbsp;&nbsp;2041754 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;4774235 |
| **TOTAL ASSET BACKED SECURITIES<br> (Cost $4,858,662)** | **TOTAL ASSET BACKED SECURITIES<br> (Cost $4,858,662)** | &nbsp;&nbsp;&nbsp;**4774235** |

---

---

| | | |
|:---|:---|:---|
|  | **Number of<br> Shares** |  |
| **COMMON STOCKS — 61.0%** | **COMMON STOCKS — 61.0%** | **COMMON STOCKS — 61.0%** |
| **Aerospace & Defense — 0.1%** | **Aerospace & Defense — 0.1%** | **Aerospace & Defense — 0.1%** |
| General Electric Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20400 | &nbsp;&nbsp;&nbsp;&nbsp;5788908 |
| **Auto Parts & Equipment — 1.1%** | **Auto Parts & Equipment — 1.1%** | **Auto Parts & Equipment — 1.1%** |
| Aurora Innovation, Inc.\* | 12327794 | &nbsp;&nbsp;&nbsp;&nbsp;50790511 |
| **Banks — 0.7%** | **Banks — 0.7%** | **Banks — 0.7%** |
| JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;&nbsp;110000 | &nbsp;&nbsp;&nbsp;32357600 |
| **Beverages — 1.4%** | **Beverages — 1.4%** | **Beverages — 1.4%** |
| Keurig Dr Pepper, Inc. | &nbsp;&nbsp;2445150 | &nbsp;&nbsp;64380800 |
| **Biotechnology — 3.4%** | **Biotechnology — 3.4%** | **Biotechnology — 3.4%** |
| Alnylam Pharmaceuticals, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;121600 | &nbsp;&nbsp;&nbsp;40233792 |
| Apogee Therapeutics, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;375718 | &nbsp;&nbsp;&nbsp;&nbsp;31624184 |
| Arcellx, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;106458 | &nbsp;&nbsp;&nbsp;&nbsp;12223508 |
| BioNTech S.E., ADR\* | &nbsp;&nbsp;&nbsp;&nbsp;166696 | &nbsp;&nbsp;&nbsp;&nbsp;14815940 |
| CG oncology, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;181542 | &nbsp;&nbsp;&nbsp;&nbsp;12286763 |
| Cytokinetics, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;382314 | &nbsp;&nbsp;&nbsp;&nbsp;25198316 |
| Dyne Therapeutics, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;234018 | &nbsp;&nbsp;&nbsp;&nbsp;4242746 |
| Erasca, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;495500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8017190 |
| Kymera Therapeutics, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99000 | &nbsp;&nbsp;&nbsp;&nbsp;8245710 |
|  |  | &nbsp;&nbsp;156888149 |
| **Commercial Services — 0.1%** | **Commercial Services — 0.1%** | **Commercial Services — 0.1%** |
| S&P Global, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11400 | &nbsp;&nbsp;&nbsp;&nbsp;4848876 |
| **Computers — 3.8%** | **Computers — 3.8%** | **Computers — 3.8%** |
| Apple, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;686008 | &nbsp;&nbsp;&nbsp;174101970 |
| **Diversified Financial Services — 1.7%** | **Diversified Financial Services — 1.7%** | **Diversified Financial Services — 1.7%** |
| Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92978 | &nbsp;&nbsp;&nbsp;46457388 |
| Visa, Inc., Class A†† | &nbsp;&nbsp;&nbsp;&nbsp;110643 | &nbsp;&nbsp;&nbsp;33440740 |
|  |  | &nbsp;&nbsp;&nbsp;79898128 |
| **Electric — 4.0%** | **Electric — 4.0%** | **Electric — 4.0%** |
| Ameren Corp. | &nbsp;&nbsp;&nbsp;&nbsp;333382 | &nbsp;&nbsp;&nbsp;36645349 |
| CenterPoint Energy, Inc. | &nbsp;&nbsp;2639124 | &nbsp;&nbsp;113904592 |
| PPL Corp. | &nbsp;&nbsp;&nbsp;&nbsp;922719 | &nbsp;&nbsp;&nbsp;35247866 |
|  |  | &nbsp;&nbsp;185797807 |
| **Gas — 2.2%** | **Gas — 2.2%** | **Gas — 2.2%** |
| NiSource, Inc. | &nbsp;&nbsp;2215466 | &nbsp;&nbsp;103373644 |

---

---

| | | |
|:---|:---|:---|
|  | **Number of<br> Shares** | &nbsp;&nbsp;**Value†** |
| **Healthcare Products — 4.3%** | **Healthcare Products — 4.3%** | **Healthcare Products — 4.3%** |
| Abbott Laboratories | &nbsp;&nbsp;&nbsp;129922 | &nbsp;&nbsp;$13339092 |
| Danaher Corp. | &nbsp;&nbsp;&nbsp;163600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31018560 |
| Revvity, Inc. | 1092312 | &nbsp;&nbsp;&nbsp;&nbsp;95697454 |
| Waters Corp.\* | &nbsp;&nbsp;&nbsp;198358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59071012 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;199126118 |
| **Healthcare Services — 0.8%** | **Healthcare Services — 0.8%** | **Healthcare Services — 0.8%** |
| UnitedHealth Group, Inc. | &nbsp;&nbsp;&nbsp;142755 | &nbsp;&nbsp;&nbsp;&nbsp;38628075 |
| **Insurance — 1.2%** | **Insurance — 1.2%** | **Insurance — 1.2%** |
| Arthur J. Gallagher & Co. | &nbsp;&nbsp;&nbsp;&nbsp;117447 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25436671 |
| Ryan Specialty Holdings, Inc. | &nbsp;&nbsp;&nbsp;162054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5467702 |
| Willis Towers Watson PLC | &nbsp;&nbsp;&nbsp;&nbsp;78446 | &nbsp;&nbsp;&nbsp;&nbsp;22804252 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;53708625 |
| **Internet — 12.7%** | **Internet — 12.7%** | **Internet — 12.7%** |
| Alphabet, Inc., Class A†† | &nbsp;&nbsp;388865 | &nbsp;&nbsp;&nbsp;&nbsp;111822019 |
| Amazon.com, Inc.\*,†† | 1109310 | &nbsp;&nbsp;&nbsp;&nbsp;231035994 |
| DoorDash, Inc., Class A\* | &nbsp;&nbsp;226090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33947414 |
| Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;307561 | &nbsp;&nbsp;&nbsp;&nbsp;175964875 |
| Netflix, Inc.\* | &nbsp;&nbsp;&nbsp;363300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34931295 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;587701597 |
| **Machinery — Diversified — 0.8%** | **Machinery — Diversified — 0.8%** | **Machinery — Diversified — 0.8%** |
| Ingersoll Rand, Inc. | &nbsp;&nbsp;&nbsp;467166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37429340 |
| **Oil & Gas — 1.0%** | **Oil & Gas — 1.0%** | **Oil & Gas — 1.0%** |
| Canadian Natural Resources Ltd. | &nbsp;&nbsp;550028 | &nbsp;&nbsp;&nbsp;&nbsp;26802864 |
| Chevron Corp. | &nbsp;&nbsp;&nbsp;&nbsp;54400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11255360 |
| ConocoPhillips | &nbsp;&nbsp;&nbsp;&nbsp;75100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9913200 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47971424 |
| **Oil & Gas Services — 0.3%** | **Oil & Gas Services — 0.3%** | **Oil & Gas Services — 0.3%** |
| SLB Ltd. | &nbsp;&nbsp;245200 | &nbsp;&nbsp;&nbsp;&nbsp;12600828 |
| **Pharmaceuticals — 4.8%** | **Pharmaceuticals — 4.8%** | **Pharmaceuticals — 4.8%** |
| Ascendis Pharma A/S, ADR\* | &nbsp;&nbsp;&nbsp;194855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44569184 |
| Becton Dickinson & Co. | &nbsp;&nbsp;&nbsp;437655 | &nbsp;&nbsp;&nbsp;&nbsp;68812496 |
| Cencora, Inc. | &nbsp;&nbsp;&nbsp;189471 | &nbsp;&nbsp;&nbsp;&nbsp;59520420 |
| Eli Lilly & Co. | &nbsp;&nbsp;&nbsp;&nbsp;44811 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41215813 |
| Vaxcyte, Inc.\* | &nbsp;&nbsp;184890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10743958 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;224861871 |
| **Retail — 1.8%** | **Retail — 1.8%** | **Retail — 1.8%** |
| Starbucks Corp. | &nbsp;&nbsp;&nbsp;605355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54233755 |
| Yum! Brands, Inc.†† | &nbsp;&nbsp;&nbsp;&nbsp;177932 | &nbsp;&nbsp;&nbsp;&nbsp;27664867 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;81898622 |
| **Semiconductors — 7.7%** | **Semiconductors — 7.7%** | **Semiconductors — 7.7%** |
| Advanced Micro Devices, Inc.\*,†† | &nbsp;&nbsp;&nbsp;332986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67739342 |
| Broadcom, Inc. | &nbsp;&nbsp;278445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86181512 |
| KLA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4417230 |
| Micron Technology, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;22600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7635184 |
| NVIDIA Corp.†† | &nbsp;&nbsp;&nbsp;859162 | &nbsp;&nbsp;&nbsp;&nbsp;149837853 |
| Taiwan Semiconductor Manufacturing Co., Ltd., ADR | &nbsp;&nbsp;&nbsp;124700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42142365 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;357953486 |
| **Software — 6.7%** | **Software — 6.7%** | **Software — 6.7%** |
| Bentley Systems, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp;321817 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11302213 |

---

------

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

#### Schedule of Investments — March 31, 2026 (Unaudited)<br>

#### Flexibly Managed Fund<br>

---

| | | |
|:---|:---|:---|
|  | **Number of<br> Shares** | &nbsp;&nbsp;**Value†** |
| **COMMON STOCKS — (continued)** | **COMMON STOCKS — (continued)** | **COMMON STOCKS — (continued)** |
| **Software — (continued)** | **Software — (continued)** | **Software — (continued)** |
| Microsoft Corp.†† | 558946 | &nbsp;&nbsp;&nbsp;&nbsp;$206905041 |
| PTC, Inc.\* | 572099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81518386 |
| Workday, Inc., Class A\* | &nbsp;&nbsp;&nbsp;87829 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11410744 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;311136384 |
| **Telecommunications — 0.4%** | **Telecommunications — 0.4%** | **Telecommunications — 0.4%** |
| Arista Networks, Inc.\* | 105900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13002402 |
| Ciena Corp.\* | &nbsp;&nbsp;&nbsp;12300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4775229 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17777631 |
| **TOTAL COMMON STOCKS<br> (Cost $2,848,858,115)** | **TOTAL COMMON STOCKS<br> (Cost $2,848,858,115)** | &nbsp;&nbsp;&nbsp;**2829020394** |
| **PREFERRED STOCKS — 0.9%** | **PREFERRED STOCKS — 0.9%** | **PREFERRED STOCKS — 0.9%** |
| **Auto Manufacturers — 0.9%** | **Auto Manufacturers — 0.9%** | **Auto Manufacturers — 0.9%** |
| Waymo LLC, Series A-2, CONV(1),\*,#<br> **(Cost $21,086,236)** | 245568 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**41434689** |

---

---

| | | |
|:---|:---|:---|
|  | **Par<br> (000)** |  |
| **CORPORATE BONDS — 8.3%** | **CORPORATE BONDS — 8.3%** | **CORPORATE BONDS — 8.3%** |
| **Aerospace & Defense — 1.5%** | **Aerospace & Defense — 1.5%** | **Aerospace & Defense — 1.5%** |
| TransDigm, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;144A, 6.750%, 08/15/28@ | &nbsp;&nbsp;$2152 | &nbsp;&nbsp;&nbsp;&nbsp;2178218 |
| &nbsp;&nbsp;&nbsp;4.625%, 01/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;3763 | &nbsp;&nbsp;&nbsp;3696836 |
| &nbsp;&nbsp;&nbsp;144A, 6.375%, 03/01/29@ | &nbsp;&nbsp;&nbsp;11499 | &nbsp;&nbsp;11674866 |
| &nbsp;&nbsp;&nbsp;144A, 7.125%, 12/01/31@ | &nbsp;&nbsp;&nbsp;&nbsp;6637 | &nbsp;&nbsp;&nbsp;6849256 |
| &nbsp;&nbsp;&nbsp;144A, 6.625%, 03/01/32@ | &nbsp;&nbsp;&nbsp;16679 | &nbsp;&nbsp;&nbsp;17002122 |
| &nbsp;&nbsp;&nbsp;144A, 6.375%, 05/31/33@ | &nbsp;&nbsp;&nbsp;13220 | &nbsp;&nbsp;13144562 |
| &nbsp;&nbsp;&nbsp;144A, 6.250%, 01/31/34@ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;889391 |
| &nbsp;&nbsp;&nbsp;144A, 6.750%, 01/31/34@ | &nbsp;&nbsp;&nbsp;&nbsp;9848 | &nbsp;&nbsp;&nbsp;9975876 |
| &nbsp;&nbsp;&nbsp;144A, 6.125%, 07/31/34@ | &nbsp;&nbsp;&nbsp;&nbsp;2952 | &nbsp;&nbsp;&nbsp;2903029 |
|  |  | &nbsp;&nbsp;68314156 |
| **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;3352296 |
| 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;473994 |
| &nbsp;&nbsp;&nbsp;3.375%, 08/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;2557 | &nbsp;&nbsp;&nbsp;2358607 |
| &nbsp;&nbsp;&nbsp;5.750%, 10/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;2818 | &nbsp;&nbsp;&nbsp;&nbsp;2810524 |
|  |  | &nbsp;&nbsp;&nbsp;8995421 |
| **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;2172153 |
| &nbsp;&nbsp;&nbsp;5.950%, 08/04/33 | &nbsp;&nbsp;&nbsp;&nbsp;2469 | &nbsp;&nbsp;&nbsp;&nbsp;2521539 |
| Crowdstrike Holdings, Inc.<br> 3.000%, 02/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;572 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;544914 |
|  |  | &nbsp;&nbsp;&nbsp;5238606 |
| **Electric — 1.0%** | **Electric — 1.0%** | **Electric — 1.0%** |
| American Electric Power Co., Inc., |  |  |
| &nbsp;&nbsp;&nbsp;Series C (UST Yield Curve CMT 5 Yr + 2.128%), 5.800%, 03/15/56• | &nbsp;&nbsp;&nbsp;&nbsp;8162 | &nbsp;&nbsp;&nbsp;8061880 |

---

---

| | | |
|:---|:---|:---|
|  | **Par<br> (000)** | &nbsp;&nbsp;**Value†** |
| **Electric — (continued)** | **Electric — (continued)** | **Electric — (continued)** |
| &nbsp;&nbsp;&nbsp;Series D (UST Yield Curve CMT 5 Yr + 1.940%), 6.050%, 03/15/56• | &nbsp;&nbsp;$7090 | &nbsp;&nbsp;$7024470 |
| CenterPoint Energy, Inc. (UST Yield Curve CMT 5 Yr + 2.223%)<br> 5.950%, 04/01/56• | &nbsp;&nbsp;&nbsp;&nbsp;8872 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8787740 |
| Entergy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;(UST Yield Curve CMT 5 Yr + 2.179%), 5.875%, 06/15/56• | &nbsp;&nbsp;&nbsp;&nbsp;8206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8099457 |
| &nbsp;&nbsp;&nbsp;(UST Yield Curve CMT 5 Yr + 2.013%), 6.100%, 06/15/56• | &nbsp;&nbsp;&nbsp;&nbsp;5779 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5702308 |
| The Southern Co. (UST Yield Curve CMT 5 Yr + 1.993%)<br> 6.000%, 04/01/58• | &nbsp;&nbsp;&nbsp;&nbsp;9506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9554214 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;47230069 |
| **Entertainment — 0.1%** | **Entertainment — 0.1%** | **Entertainment — 0.1%** |
| Vail Resorts, Inc., 144A<br> 6.500%, 05/15/32@ | &nbsp;&nbsp;&nbsp;&nbsp;3481 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3514801 |
| VAIL RESORTS, Inc., 144A<br> 5.625%, 07/15/30@ | &nbsp;&nbsp;&nbsp;&nbsp;1555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1542136 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5056937 |
| **Gas — 0.3%** | **Gas — 0.3%** | **Gas — 0.3%** |
| NiSource, Inc. (UST Yield Curve CMT 5 Yr + 2.035%)<br> 5.750%, 07/15/56• | &nbsp;&nbsp;&nbsp;&nbsp;13711 | &nbsp;&nbsp;&nbsp;&nbsp;13494665 |
| **Healthcare Products — 0.0%** | **Healthcare Products — 0.0%** | **Healthcare Products — 0.0%** |
| Hologic, Inc., 144A<br> 3.250%, 02/15/29@ | &nbsp;&nbsp;&nbsp;&nbsp;2541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2538434 |
| **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;4355344 |
| &nbsp;&nbsp;&nbsp;144A, 6.500%, 05/15/30@ | &nbsp;&nbsp;&nbsp;&nbsp;2589 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2642509 |
| Surgery Center Holdings, Inc., 144A<br> 7.250%, 04/15/32@ | &nbsp;&nbsp;&nbsp;&nbsp;2215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2167306 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9165159 |
| **Insurance — 2.2%** | **Insurance — 2.2%** | **Insurance — 2.2%** |
| AmWINS Group, Inc., 144A<br> 6.375%, 02/15/29@ | &nbsp;&nbsp;&nbsp;&nbsp;3277 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3295994 |
| Broadstreet Partners Group LLC, 144A<br> 5.875%, 04/15/29@ | &nbsp;&nbsp;&nbsp;10427 | &nbsp;&nbsp;&nbsp;&nbsp;10149550 |
| HUB International Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;144A, 5.625%, 12/01/29@ | &nbsp;&nbsp;&nbsp;&nbsp;6513 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6308375 |
| &nbsp;&nbsp;&nbsp;144A, 7.250%, 06/15/30@ | &nbsp;&nbsp;&nbsp;&nbsp;40112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41112353 |
| &nbsp;&nbsp;&nbsp;144A, 7.375%, 01/31/32@ | &nbsp;&nbsp;&nbsp;23409 | &nbsp;&nbsp;&nbsp;&nbsp;23874488 |
| Ryan Specialty LLC |  |  |
| &nbsp;&nbsp;&nbsp;144A, 4.375%, 02/01/30@ | &nbsp;&nbsp;&nbsp;&nbsp;2140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2072418 |
| &nbsp;&nbsp;&nbsp;144A, 5.875%, 08/01/32@ | &nbsp;&nbsp;&nbsp;&nbsp;5209 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5148282 |
| USI, Inc., 144A<br> 7.500%, 01/15/32@ | &nbsp;&nbsp;&nbsp;&nbsp;8714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8831656 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;100793116 |

---

------

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

#### Schedule of Investments — March 31, 2026 (Unaudited)<br>

#### Flexibly Managed Fund<br>

---

| | | |
|:---|:---|:---|
|  | **Par<br> (000)** | &nbsp;&nbsp;**Value†** |
| **CORPORATE BONDS — (continued)** | **CORPORATE BONDS — (continued)** | **CORPORATE BONDS — (continued)** |
| **Leisure Time — 0.1%** | **Leisure Time — 0.1%** | **Leisure Time — 0.1%** |
| Life Time, Inc., 144A<br> 6.000%, 11/15/31@ | $2663 | &nbsp;&nbsp;&nbsp;&nbsp;$2682538 |
| **Lodging — 1.0%** | **Lodging — 1.0%** | **Lodging — 1.0%** |
| Hilton Domestic Operating Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;144A, 5.875%, 04/01/29@ | &nbsp;&nbsp;&nbsp;3928 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3966180 |
| &nbsp;&nbsp;&nbsp;144A, 3.750%, 05/01/29@ | &nbsp;&nbsp;&nbsp;8034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7684057 |
| &nbsp;&nbsp;&nbsp;4.875%, 01/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;7217 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7105029 |
| &nbsp;&nbsp;&nbsp;144A, 4.000%, 05/01/31@ | &nbsp;&nbsp;&nbsp;&nbsp;7522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7039419 |
| &nbsp;&nbsp;&nbsp;144A, 3.625%, 02/15/32@ | &nbsp;&nbsp;&nbsp;9652 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8767170 |
| &nbsp;&nbsp;&nbsp;144A, 5.750%, 09/15/33@ | &nbsp;&nbsp;&nbsp;&nbsp;6121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6091876 |
| &nbsp;&nbsp;&nbsp;144A, 5.500%, 03/31/34@ | &nbsp;&nbsp;&nbsp;4880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4766493 |
| Hilton Worldwide Finance LLC/Hilton Worldwide Finance Corp.<br> 4.875%, 04/01/27 | &nbsp;&nbsp;&nbsp;3472 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3469139 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48889363 |
| **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;8504 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8417130 |
| &nbsp;&nbsp;&nbsp;3.125%, 02/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;7128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6754620 |
| SBA Tower Trust, 144A<br> 6.599%, 11/15/52@ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260327 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15432077 |
| **Retail — 0.9%** | **Retail — 0.9%** | **Retail — 0.9%** |
| KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell of America LLC, 144A<br> 4.750%, 06/01/27@ | &nbsp;&nbsp;&nbsp;8757 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8737954 |
| Yum! Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;144A, 4.750%, 01/15/30@ | &nbsp;&nbsp;&nbsp;&nbsp;4113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4043343 |
| &nbsp;&nbsp;&nbsp;3.625%, 03/15/31 | &nbsp;&nbsp;&nbsp;4955 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4575404 |
| &nbsp;&nbsp;&nbsp;4.625%, 01/31/32 | &nbsp;&nbsp;&nbsp;8583 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8181838 |
| &nbsp;&nbsp;&nbsp;5.375%, 04/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;7196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7122290 |
| &nbsp;&nbsp;&nbsp;6.875%, 11/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;3145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3438734 |
| &nbsp;&nbsp;&nbsp;5.350%, 11/01/43 | &nbsp;&nbsp;&nbsp;6180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5842220 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41941783 |
| **Software — 0.4%** | **Software — 0.4%** | **Software — 0.4%** |
| Ellucian Holdings, Inc., 144A<br> 6.500%, 12/01/29@ | &nbsp;&nbsp;&nbsp;4272 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4172436 |
| Fair Isaac Corp., 144A<br> 6.000%, 05/15/33@ | &nbsp;&nbsp;&nbsp;3576 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3508930 |
| MSCI, Inc.<br> 5.250%, 09/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;6771 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6631838 |
| PTC, Inc., 144A<br> 4.000%, 02/15/28@ | &nbsp;&nbsp;&nbsp;&nbsp;3591 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3497770 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17810974 |
| **TOTAL CORPORATE BONDS<br> (Cost $384,610,877)** |  | &nbsp;&nbsp;&nbsp;&nbsp;**387583298** |

---

---

| | | |
|:---|:---|:---|
|  | **Par<br> (000)** | &nbsp;&nbsp;**Value†** |
| **LOAN AGREEMENTS‡ — 9.8%** | **LOAN AGREEMENTS‡ — 9.8%** | **LOAN AGREEMENTS‡ — 9.8%** |
| **Aerospace & Defense — 0.5%** | **Aerospace & Defense — 0.5%** | **Aerospace & Defense — 0.5%** |
| TransDigm, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;(1 M SOFR + 2.250%), 5.918%, 03/22/30• | $23147 | &nbsp;&nbsp;$23140659 |
| &nbsp;&nbsp;&nbsp;(1 M SOFR + 2.500%), 6.168%, 02/10/33• | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2170412 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25311071 |
| **Apparel — 0.3%** | **Apparel — 0.3%** | **Apparel — 0.3%** |
| Varsity Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;0.000%, 08/26/31×,• | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1721175 |
| &nbsp;&nbsp;&nbsp;(3 M SOFR + 2.750%), 6.450%, 08/26/31• | &nbsp;&nbsp;&nbsp;14043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13968491 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;15689666 |
| **Diversified Financial Services — 0.6%** | **Diversified Financial Services — 0.6%** | **Diversified Financial Services — 0.6%** |
| CPI Holdco B, LLC (1 M SOFR + 2.000%)<br> 5.668%, 05/17/31• | &nbsp;&nbsp;&nbsp;&nbsp;17030 | &nbsp;&nbsp;&nbsp;&nbsp;16900224 |
| EP Wealth Advisors LLC (3 M SOFR + 3.000%)<br> 6.700%, 10/18/32• | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1516000 |
| Mariner Wealth Advisors LLC (3 M SOFR + 2.250%)<br> 5.950%, 12/31/30• | &nbsp;&nbsp;&nbsp;&nbsp;7977 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7945661 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26361885 |
| **Environmental Control — 0.8%** | **Environmental Control — 0.8%** | **Environmental Control — 0.8%** |
| Filtration Group Corp. |  |  |
| &nbsp;&nbsp;&nbsp;(1 M SOFR + 3.500%), 5.392%, 10/21/28• | &nbsp;&nbsp;&nbsp;&nbsp;6874 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7948645 |
| &nbsp;&nbsp;&nbsp;(1 M SOFR + 2.500%), 6.168%, 10/23/28• | &nbsp;&nbsp;&nbsp;28260 | &nbsp;&nbsp;&nbsp;&nbsp;28247826 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36196471 |
| **Healthcare Services — 0.3%** | **Healthcare Services — 0.3%** | **Healthcare Services — 0.3%** |
| Loire US Holdco 1, Inc. (1 M SOFR + 4.000%)<br> 7.668%, 01/21/30• | &nbsp;&nbsp;&nbsp;&nbsp;13463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13427144 |
| **Insurance — 3.4%** | **Insurance — 3.4%** | **Insurance — 3.4%** |
| AmWINS GROUP, Inc. (1 M SOFR + 2.000%)<br> 5.668%, 01/30/32• | &nbsp;&nbsp;&nbsp;33542 | &nbsp;&nbsp;&nbsp;&nbsp;33284780 |
| Broadstreet Partners, Inc. (1 M SOFR + 2.500%)<br> 6.168%, 06/13/31• | &nbsp;&nbsp;&nbsp;&nbsp;33491 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32624736 |
| HUB International Ltd. (3 M SOFR + 2.250%)<br> 5.920%, 06/20/30• | &nbsp;&nbsp;&nbsp;63989 | &nbsp;&nbsp;&nbsp;&nbsp;63804887 |
| Ryan Specialty Group LLC (1 M SOFR + 2.000%)<br> 5.668%, 09/15/31• | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;614778 |
| USI, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;(3 M SOFR + 2.250%), 5.950%, 11/21/29• | &nbsp;&nbsp;&nbsp;13080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13039431 |
| &nbsp;&nbsp;&nbsp;(3 M SOFR + 2.250%), 5.950%, 09/27/30• | &nbsp;&nbsp;&nbsp;&nbsp;13224 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13174273 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;156542885 |

---

------

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

#### Schedule of Investments — March 31, 2026 (Unaudited)<br>

#### Flexibly Managed Fund<br>

---

| | | |
|:---|:---|:---|
|  | **Par<br> (000)** | &nbsp;&nbsp;**Value†** |
| **LOAN AGREEMENTS‡ — (continued)** | **LOAN AGREEMENTS‡ — (continued)** | **LOAN AGREEMENTS‡ — (continued)** |
| **Lodging — 0.5%** | **Lodging — 0.5%** | **Lodging — 0.5%** |
| Hilton Worldwide Finance LLC (1 M SOFR + 1.750%)<br> 5.429%, 11/08/30• | &nbsp;&nbsp;$19717 | &nbsp;&nbsp;&nbsp;&nbsp;$19741702 |
| Wyndham Hotels & Resorts, Inc. (1 M SOFR + 1.750%)<br> 5.418%, 05/24/30• | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2869 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2876225 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22617927 |
| **Real Estate Investment Trusts — 0.2%** | **Real Estate Investment Trusts — 0.2%** | **Real Estate Investment Trusts — 0.2%** |
| SBA Senior Finance II LLC (1 M SOFR + 1.750%)<br> 5.420%, 01/25/31• | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9205508 |
| **Semiconductors — 0.3%** | **Semiconductors — 0.3%** | **Semiconductors — 0.3%** |
| Icon Parent I, Inc. (3 M SOFR + 2.750%)<br> 6.437%, 11/13/31• | &nbsp;&nbsp;&nbsp;&nbsp;13319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12755714 |
| **Software — 2.9%** | **Software — 2.9%** | **Software — 2.9%** |
| Applied Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;(3 M SOFR + 2.250%), 5.950%, 02/24/31• | &nbsp;&nbsp;&nbsp;&nbsp;68571 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67160737 |
| &nbsp;&nbsp;&nbsp;(3 M SOFR + 4.500%), 8.200%, 02/23/32• | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9928 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9775024 |
| Ascend Learning LLC (1 M SOFR + 3.000%)<br> 6.668%, 12/11/28• | &nbsp;&nbsp;&nbsp;&nbsp;8949 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8725355 |
| Bending Spoons US, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;(1 M SOFR + 5.875%), 9.544%, 03/07/31• | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;953 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;867048 |
| &nbsp;&nbsp;&nbsp;(1 M SOFR + 5.875%), 9.544%, 03/07/31• | &nbsp;&nbsp;&nbsp;&nbsp;16022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14580020 |
| Ellucian Holdings, Inc. (1 M SOFR + 2.500%)<br> 6.168%, 10/08/29• | &nbsp;&nbsp;&nbsp;&nbsp;11590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11254630 |
| Epicor Software Corp. (1 M SOFR + 2.500%)<br> 6.168%, 05/30/31• | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9711651 |
| Quartz AcquireCo LLC (3 M SOFR + 2.250%)<br> 5.950%, 06/28/30(1),• | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2789 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2315004 |
| Sophia LP<br> 0.000%, 10/08/29×,• | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1356421 |
| Storable, Inc. (1 M SOFR + 3.250%)<br> 6.918%, 04/17/31• | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6971 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6661212 |
| UKG, Inc. (3 M SOFR + 2.500%)<br> 6.167%, 02/10/31• | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3922849 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136329951 |
| **TOTAL LOAN AGREEMENTS<br> (Cost $460,207,714)** |  | &nbsp;&nbsp;&nbsp;&nbsp;**454438222** |
| **U.S. TREASURY OBLIGATIONS — 17.5%** | **U.S. TREASURY OBLIGATIONS — 17.5%** | **U.S. TREASURY OBLIGATIONS — 17.5%** |
| U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, 09/30/30 | &nbsp;&nbsp;&nbsp;&nbsp;79207 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78232382 |
| &nbsp;&nbsp;&nbsp;3.625%, 10/31/30 | &nbsp;&nbsp;&nbsp;154145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152170017 |
| &nbsp;&nbsp;&nbsp;3.500%, 11/30/30 | &nbsp;&nbsp;&nbsp;130432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128042445 |

---

---

| | | |
|:---|:---|:---|
|  | **Par<br> (000)** | &nbsp;&nbsp;**Value†** |
| &nbsp;&nbsp;&nbsp;3.625%, 12/31/30 | &nbsp;&nbsp;$55375 | &nbsp;&nbsp;$54628736 |
| &nbsp;&nbsp;&nbsp;3.750%, 01/31/31 | &nbsp;&nbsp;&nbsp;&nbsp;78449 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77793215 |
| &nbsp;&nbsp;&nbsp;3.500%, 02/28/31 | &nbsp;&nbsp;&nbsp;127468 | &nbsp;&nbsp;&nbsp;&nbsp;125008952 |
| &nbsp;&nbsp;&nbsp;3.875%, 12/31/32 | &nbsp;&nbsp;&nbsp;&nbsp;62380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61502781 |
| &nbsp;&nbsp;&nbsp;4.000%, 01/31/33 | &nbsp;&nbsp;&nbsp;&nbsp;49616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49259385 |
| &nbsp;&nbsp;&nbsp;3.750%, 02/28/33 | &nbsp;&nbsp;&nbsp;&nbsp;87546 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85589601 |
| **TOTAL U.S. TREASURY OBLIGATIONS<br> (Cost $818,341,622)** | **TOTAL U.S. TREASURY OBLIGATIONS<br> (Cost $818,341,622)** | &nbsp;&nbsp;&nbsp;**812227514** |

---

---

| |
|:---|
| **Number of<br> Shares** |
| **SHORT-TERM INVESTMENTS — 1.0%** |

---

---

| | | |
|:---|:---|:---|
| T. Rowe Price Government Reserve Investment Fund (seven-day effective yield 3.730%)<br> **(Cost $43,056,104)** | 43056104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**43056104** |
| **TOTAL INVESTMENTS — 98.6%<br> (Cost $4,581,019,330)** |  | &nbsp;&nbsp;**$4572534456** |
| **Other Assets & Liabilities — 1.4%** | **Other Assets & Liabilities — 1.4%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**67212772** |
| **TOTAL NET ASSETS — 100.0%** |  | &nbsp;&nbsp;**$4639747228** |

---

---

| | | |
|:---|:---|:---|
|  | **Number of<br> Contracts** |  |
| **WRITTEN OPTIONS — (0.2)%** | **WRITTEN OPTIONS — (0.2)%** | **WRITTEN OPTIONS — (0.2)%** |
| Call Options |  |  |
| **TOTAL WRITTEN OPTIONS** |  |  |
| **(See open written options schedule)** | **(See open written options schedule)** | **(See open written options schedule)** |
| &nbsp;&nbsp;&nbsp;**(Premiums $(13664983))** | 9655 | &nbsp;&nbsp;&nbsp;&nbsp;**$(10930901)** |

---

------

---

| | |
|:---|:---|
| † | 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 March 31, 2026, the aggregate value of Rule 144A securities was $257,688,143, which represents 5.6% of the Fund's net assets. |
| \* | Non-income producing security. |
| †† | At March 31, 2026, 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 March 31, 2026, the aggregate value of restricted securities was $41,434,689 which represented 0.9% 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 | $21086236 | $41434689 |

---

------

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

#### Schedule of Investments — March 31, 2026 (Unaudited)<br>

#### Flexibly Managed Fund<br>
• Variable rate security. The rate disclosed is the rate in effect on the report date. The information in parenthesis represents the benchmark and reference rate for each relevant security and the rate floats based
upon the reference rate and spread. The security may be further subject to interest rate floors and caps. For loan agreements, the rate shown may represent a weighted average interest rate. Certain variable rate
securities are not based on a published reference rate and spread, but are determined by the issuer or agent and are based on current market conditions, or, for mortgage-backed securities, are impacted by the
individual mortgages which are paying off over time. These securities do not indicate a reference rate and spread in their descriptions.

‡ Loan Agreements in which the Fund invests generally pay interest at rates which are periodically predetermined by reference to a base lending rate plus a premium.
These base lending rates are generally (i) the Prime Rate offered by one or more major U.S. banks, (ii) the lending rate offered by one or more European banks such as the Secured Overnight Financing Rate
("SOFR") or (iii) the Certificate of Deposit rate. Rate shown represents the actual rate at March 31, 2026. Loan Agreements, while exempt from registration under the Security Act of 1933, as amended
(the "1933 Act"), contain certain restrictions on resale and cannot be sold publicly. Floating rate Loan Agreements often require repayments from excess cash flow or permit the borrower to repay at its
election. The degree to which borrowers repay, whether as a contractual requirement or at their election, cannot be predicted with accuracy. As a result, the actual remaining maturity may be substantially less than
the stated maturity shown.

× This loan will settle after March 31, 2026, at which time the interest rate, based on the SOFR and the agreed upon spread on trade date, will be reflected.

---

| |
|:---|
| A/S— Aktieselskab. |
| ABS— Asset-Backed Security. |
| ADR— American Depositary Receipt. |
| CMT— Constant Maturity Treasury. |
| CONV— Convertible Security. |
| LLC— Limited Liability Company. |
| LP— Limited Partnership. |
| M— Month. |
| MSCI— Morgan Stanley Capital International. |
| PLC— Public Limited Company. |
| S&P— Standards & Poor's |
| S.E.— Societas Europaea. |
| SOFR— Secured Overnight Financing Rate. |
| UST— US Treasury. |
| Yr— Year. |

---

Open written options contracts held by the Fund at March 31, 2026 are as follows:

---

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

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Call Options** |  |  |  |  |  |
| **Description** | **# of<br> Contracts** | **Notional** | **Exercise<br> Price** | **Expiration<br> Date** | **Value** |
| Advanced Micro Devices, Inc.,<sup>(5)</sup> | &nbsp;&nbsp;&nbsp;120 | $3720000 | &nbsp;&nbsp;&nbsp;$310 | &nbsp;&nbsp;01/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;$(165000) |
| Advanced Micro Devices, Inc.,<sup>(5)</sup> | &nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp;&nbsp;3840000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320 | &nbsp;&nbsp;01/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(145920) |
| Alphabet, Inc.,<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;99 | &nbsp;&nbsp;&nbsp;&nbsp;3366000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340 | &nbsp;&nbsp;01/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(188595) |
| Alphabet, Inc.,<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;99 | &nbsp;&nbsp;&nbsp;&nbsp;3465000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;01/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(165330) |
| Alphabet, Inc.,<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;99 | &nbsp;&nbsp;&nbsp;&nbsp;3564000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp;01/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(139590) |
| Alphabet, Inc.,<sup>(5)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;96 | &nbsp;&nbsp;&nbsp;&nbsp;3456000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp;01/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(135360) |
| Alphabet, Inc.,<sup>(5)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;96 | &nbsp;&nbsp;&nbsp;&nbsp;3552000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370 | &nbsp;&nbsp;01/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(115200) |
| Alphabet, Inc.,<sup>(5)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;96 | &nbsp;&nbsp;&nbsp;&nbsp;3648000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380 | &nbsp;&nbsp;01/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(99840) |
| Alphabet, Inc.,<sup>(5)</sup> | &nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp;&nbsp;7200000 | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;01/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(136800) |
| Alphabet, Inc.,<sup>(5)</sup> | &nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp;&nbsp;7470000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;415 | &nbsp;&nbsp;01/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(109980) |
| Apple, Inc.,<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;291 | &nbsp;&nbsp;&nbsp;&nbsp;8730000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;01/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(327375) |
| Broadcom, Inc.,<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;182 | &nbsp;&nbsp;&nbsp;&nbsp;7098000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390 | &nbsp;&nbsp;01/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(504686) |
| Broadcom, Inc.,<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;182 | &nbsp;&nbsp;&nbsp;&nbsp;7462000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;410 | &nbsp;&nbsp;01/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(406952) |
| Cencora, Inc.,<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;72 | &nbsp;&nbsp;&nbsp;&nbsp;2808000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390 | &nbsp;&nbsp;01/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(57600) |
| Cencora, Inc.,<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;72 | &nbsp;&nbsp;&nbsp;&nbsp;2880000 | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;01/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(47520) |
| DoorDash, Inc.,<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;122 | &nbsp;&nbsp;&nbsp;&nbsp;2806000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230 | &nbsp;&nbsp;01/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(113460) |
| General Electric Co.,<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;102 | &nbsp;&nbsp;&nbsp;&nbsp;3366000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp;01/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(232050) |
| General Electric Co.,<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;102 | &nbsp;&nbsp;&nbsp;&nbsp;3468000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340 | &nbsp;&nbsp;01/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(176460) |
| Ingersoll Rand, Inc.,<sup>(4)</sup> | &nbsp;&nbsp;294 | &nbsp;&nbsp;&nbsp;&nbsp;2793000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95 | &nbsp;&nbsp;01/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(132300) |
| Ingersoll Rand, Inc.,<sup>(4)</sup> | &nbsp;&nbsp;294 | &nbsp;&nbsp;&nbsp;&nbsp;2940000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;01/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(57330) |
| JPMorgan Chase & Co.,<sup>(8)</sup> | &nbsp;&nbsp;&nbsp;183 | &nbsp;&nbsp;&nbsp;&nbsp;6039000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp;01/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(284748) |
| JPMorgan Chase & Co.,<sup>(8)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;81 | &nbsp;&nbsp;&nbsp;&nbsp;2835000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;01/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(85455) |
| KLA Corp.,<sup>(2)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp;&nbsp;2760000 | &nbsp;&nbsp;&nbsp;1840 | &nbsp;&nbsp;01/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(225150) |

---

------

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

#### Schedule of Investments — March 31, 2026 (Unaudited)<br>

#### Flexibly Managed Fund<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Call Options** |  |  |  |  |  |
| **Description** | **# of<br> Contracts** | **Notional** | **Exercise<br> Price** | **Expiration<br> Date** | **Value** |
| KLA Corp.,<sup>(2)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;15 | $2850000 | $1900 | &nbsp;&nbsp;01/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;$(201000) |
| Mastercard, Inc.,<sup>(2)</sup> | &nbsp;&nbsp;&nbsp;102 | &nbsp;&nbsp;&nbsp;&nbsp;6834000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;670 | 06/18/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1938) |
| Mastercard, Inc.,<sup>(2)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;47 | &nbsp;&nbsp;&nbsp;&nbsp;2679000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570 | &nbsp;&nbsp;01/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(106690) |
| Mastercard, Inc.,<sup>(2)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;78 | &nbsp;&nbsp;&nbsp;&nbsp;4524000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;580 | &nbsp;&nbsp;01/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(159900) |
| Mastercard, Inc.,<sup>(2)</sup> | &nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;7500000 | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;01/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(216375) |
| Netflix, Inc.,<sup>(5)</sup> | 1211 | &nbsp;&nbsp;&nbsp;11625600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96 | &nbsp;&nbsp;01/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1713565) |
| Netflix, Inc.,<sup>(5)</sup> | 1211 | &nbsp;&nbsp;&nbsp;11867800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98 | &nbsp;&nbsp;01/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1623951) |
| Netflix, Inc.,<sup>(5)</sup> | 1211 | &nbsp;&nbsp;&nbsp;&nbsp;12110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;01/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;(1494374) |
| S&P Global, Inc.,<sup>(2)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;57 | &nbsp;&nbsp;&nbsp;&nbsp;3363000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;590 | &nbsp;&nbsp;01/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(28500) |
| S&P Global, Inc.,<sup>(2)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;57 | &nbsp;&nbsp;&nbsp;&nbsp;3477000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;610 | &nbsp;&nbsp;01/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(37392) |
| Starbucks Corp.,<sup>(7)</sup> | &nbsp;&nbsp;580 | &nbsp;&nbsp;&nbsp;6090000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp;01/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(344520) |
| Starbucks Corp.,<sup>(7)</sup> | &nbsp;&nbsp;580 | &nbsp;&nbsp;&nbsp;&nbsp;6380000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110 | &nbsp;&nbsp;01/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(255200) |
| Starbucks Corp.,<sup>(7)</sup> | &nbsp;&nbsp;208 | &nbsp;&nbsp;&nbsp;&nbsp;2392000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115 | &nbsp;&nbsp;01/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(59072) |
| Visa, Inc.,<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;153 | &nbsp;&nbsp;&nbsp;&nbsp;6043500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395 | 06/18/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2754) |
| Visa, Inc.,<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;61 | &nbsp;&nbsp;&nbsp;&nbsp;2104500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345 | &nbsp;&nbsp;01/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(92110) |
| Visa, Inc.,<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;110 | &nbsp;&nbsp;&nbsp;&nbsp;3960000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp;01/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(116600) |
| Visa, Inc.,<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;61 | &nbsp;&nbsp;&nbsp;&nbsp;2226500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365 | &nbsp;&nbsp;01/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(56974) |
| Visa, Inc.,<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;110 | &nbsp;&nbsp;&nbsp;&nbsp;4125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp;01/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(74800) |
| Yum! Brands, Inc.,<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;199 | &nbsp;&nbsp;&nbsp;&nbsp;3283500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;01/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(189050) |
| Yum! Brands, Inc.,<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;151 | &nbsp;&nbsp;&nbsp;&nbsp;2718000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;01/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(67950) |
| Yum! Brands, Inc.,<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;151 | &nbsp;&nbsp;&nbsp;&nbsp;2793500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185 | &nbsp;&nbsp;01/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(35485) |
| **Total Written Options** |  |  |  |  | $(10930901) |

---

(1) Counterparty - Bank of America

(2) Counterparty - Barclays

(3) Counterparty - Citigroup

(4) Counterparty - Goldman Sachs

(5) Counterparty - JP Morgan

(6) Counterparty - Nomura Securities International, Inc.

(7) Counterparty - UBS Securities

(8) 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:** 2026-12-31

- **b. Date as of which information is reported:** 2026-03-31

**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:** $4647571438.88

**Total Liabilities:** $8745584.89

**Net Assets:** $4638825853.99

**Cash Not Reported:** $6183505.16

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 137.53943000 | **1-Year:** 10670.52480000 | **5-Year:** 34348.17077000 | **10-Year:** 9155.23005000 | **30-Year:** 0.00000000

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

- **3-Month:** 430.96728000 | **1-Year:** 70165.96002000 | **5-Year:** 73344.25870000 | **10-Year:** 38743.47067000 | **30-Year:** 67967.70669000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000018297 | 0.25%                | -0.67%               | -3.45%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $46795892.90             | $-48902203.19                              |
| Month 2  | $34085652.74             | $-73548469.84                              |
| Month 3  | $-2534708.72             | $-177176903.17                             |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Quartz AcquireCo LLC                                              | Qualtrics Term Loan B 225 2030-06-01                           | CUSIP: 74773KAE5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2789162 | PA      | $2315004.09   | 0.05%             | 2030-06-28      | Floating      | 5.95%                 | No            |                  3 | On Loan: No      |
| HUB International Ltd.                                            | HBGCN 7.375 01/31/32 144A                                      | CUSIP: 44332PAJ0<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |  23409000 | PA      | $23874487.97  | 0.51%             | 2032-01-31      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| HUB International Ltd                                             | Hub International Term Loan B 250 2030-06-01                   | CUSIP: 44332EAZ9<br>LEI: 549300JQT6ATTUNS5E06 | Long             | LON              | CORP              | US        |  63988534 | PA      | $63804887.18  | 1.38%             | 2030-06-20      | Floating      | 5.92%                 | No            |                  2 | On Loan: No      |
| Storable Inc                                                      | Storable Term Loan B 325 2031-04-01                            | CUSIP: 86210LAD0<br>LEI: 2549000AWFN27KOH3F59 | Long             | LON              | CORP              | US        |   6971441 | PA      | $6661211.64   | 0.14%             | 2031-04-17      | Floating      | 6.92%                 | No            |                  2 | On Loan: No      |
| Danaher Corporation                                               | Danaher Corporation COM                                        | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |    163600 | NS      | $31018560.00  | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION                                  | GE A 2027-01-15 CALL 330                                       | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |      -102 | NC      | $-232050.00   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Kymera Therapeutics Inc                                           | Kymera Therapeutics Inc COM                                    | CUSIP: 501575104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     99000 | NS      | $8245710.00   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| CG ONCOLOGY INC                                                   | CG Oncology Inc. COM                                           | CUSIP: 156944100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    181542 | NS      | $12286762.56  | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Life Time Fitness                                                 | LTH 6 11/15/31 144A                                            | CUSIP: 53190FAE5<br>LEI: 549300PALKE96VYH4X17 | Long             | DBT              | CORP              | US        |   2663000 | PA      | $2682538.43   | 0.06%             | 2031-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Becton, Dickinson and Company                                     | Becton, Dickinson and Company COM                              | CUSIP: 075887109<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | EC               | CORP              | US        |    437655 | NS      | $68812495.65  | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Hilton Worldwide Finance LLC                                      | HLT 4.875 04/01/27                                             | CUSIP: 432891AK5<br>LEI: 549300406TN7EY0NPH20 | Long             | DBT              | CORP              | US        |   3472000 | PA      | $3469139.07   | 0.07%             | 2027-04-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Yum! Brands Inc.                                                  | YUM 4.625 01/31/32                                             | CUSIP: 988498AP6<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |   8583000 | PA      | $8181838.30   | 0.18%             | 2032-01-31      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION                                  | AVGO A 2027-01-15 CALL 390                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |      -182 | NC      | $-504686.00   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Fair Isaac Corporation                                            | FAIRIC 6 05/15/33 144A                                         | CUSIP: 303250AG9<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | DBT              | CORP              | US        |   3576000 | PA      | $3508929.87   | 0.08%             | 2033-05-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Ciena Corporation                                                 | Ciena Corporation COM NEW                                      | CUSIP: 171779309<br>LEI: W0CZ7N0GH8UIGXDM1H41 | Long             | EC               | CORP              | US        |     12300 | NS      | $4775229.00   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Natural Resources Limited                                | Canadian Natural Resources Limited COM                         | CUSIP: 136385101<br>LEI: 549300T15RIMIKZC5Q38 | Long             | EC               | CORP              | CA        |    550028 | NS      | $26802864.44  | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryan Specialty LLC                                                | RYASPE 4.375 02/01/30 144A                                     | CUSIP: 78351MAA0<br>LEI: 549300K52N7QBO3PYY45 | Long             | DBT              | CORP              | US        |   2140000 | PA      | $2072417.94   | 0.04%             | 2030-02-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION                                  | V A 2027-01-15 CALL 345                                        | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |       -61 | NC      | $-92110.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Entergy Corporation                                               | ETR V5.875 06/15/56 ..                                         | CUSIP: 29364GAR4<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | DBT              | CORP              | US        |   8206000 | PA      | $8099456.58   | 0.17%             | 2056-06-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Entergy Corporation                                               | ETR V6.1 06/15/56                                              | CUSIP: 29364GAS2<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | DBT              | CORP              | US        |   5779000 | PA      | $5702308.05   | 0.12%             | 2056-06-15      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| UKG Inc                                                           | UKG Term Loan B 350 2031-01-20                                 | CUSIP: 89841EAB1<br>LEI: 529900FKHWSTQ1GXK240 | Long             | LON              | CORP              | US        |   4787348 | PA      | $4567752.51   | 0.10%             | 2031-02-10      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| HUB International Ltd.                                            | HBGCN 5.625 12/01/29 144A                                      | CUSIP: 44332PAG6<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |   6513000 | PA      | $6308374.96   | 0.14%             | 2029-12-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Varsity Brands, Inc.                                              | VARSITY BRANDS INC                                             | CUSIP: 000000000<br>LEI: 254900PLBJA0I5NSTT38 | Long             | LON              | CORP              | US        |   1732000 | PA      | $1721175.00   | 0.04%             | 2031-08-26      | Floating      | 6.67%                 | No            |                  2 | On Loan: No      |
| Aurora Innovation Inc                                             | Aurora Innovation Inc CLASS A COM                              | CUSIP: 051774107<br>LEI: 984500AB2E0D9F7D9D76 | Long             | EC               | CORP              | US        |  12327794 | NS      | $50790511.28  | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Varsity Brands, Inc.                                              | Varsity Brands Term Loan B 300 2031-08-01                      | CUSIP: 92227QAG1<br>LEI: 254900PLBJA0I5NSTT38 | Long             | LON              | CORP              | US        |  14043059 | PA      | $13968490.71  | 0.30%             | 2031-08-26      | Floating      | 6.45%                 | No            |                  2 | On Loan: No      |
| Yum! Brands Inc.                                                  | YUM 6.875 11/15/37                                             | CUSIP: 988498AD3<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |   3145000 | PA      | $3438733.57   | 0.07%             | 2037-11-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| TransDigm, Inc.                                                   | TDG 7.125 12/01/31 144A                                        | CUSIP: 893647BT3<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   6637000 | PA      | $6849256.37   | 0.15%             | 2031-12-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Filtration Group Corporation                                      | Filtration Group Term Loan B 275 2028-10-01                    | CUSIP: 31732FAX4<br>LEI: 549300ZA0D9WN5ECE978 | Long             | LON              | CORP              | US        |  28259695 | PA      | $28247825.91  | 0.61%             | 2028-10-23      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| Ryan Specialty Holdings Inc                                       | Ryan Specialty Holdings Inc CL A                               | CUSIP: 78351F107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    162054 | NS      | $5467701.96   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION                                  | JPM A 2027-01-15 CALL 350                                      | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |       -81 | NC      | $-85455.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION                                  | GOOGL A 2027-01-15 CALL 380                                    | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |       -96 | NC      | $-99840.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION                                  | GOOGL A 2027-01-15 CALL 415                                    | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |      -180 | NC      | $-109980.00   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| CHEVRON CORP                                                      | Chevron Corp. COM                                              | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     54400 | NS      | $11255360.00  | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Centerpoint Energy Inc                                            | Centerpoint Energy Inc COM                                     | CUSIP: 15189T107<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | EC               | CORP              | US        |   2639124 | NS      | $113904591.84 | 2.46%             |  |  |  | No            |                  1 | On Loan: No      |
| NiSource Inc.                                                     | NiSource Inc. COM                                              | CUSIP: 65473P105<br>LEI: 549300D8GOWWH0SJB189 | Long             | EC               | CORP              | US        |   2215466 | NS      | $103373643.56 | 2.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Ameren Corp.                                                      | Ameren Corp. COM                                               | CUSIP: 023608102<br>LEI: XRZQ5S7HYJFPHJ78L959 | Long             | EC               | CORP              | US        |    333382 | NS      | $36645349.44  | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc.                                                     | Alphabet Inc. CAP STK CL A                                     | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |    388865 | NS      | $111822019.40 | 2.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Keurig Dr Pepper Inc                                              | Keurig Dr Pepper Inc COM                                       | CUSIP: 49271V100<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | EC               | CORP              | US        |   2445150 | NS      | $64380799.50  | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury Notes                                      | T 3.5 11/30/30                                                 | CUSIP: 91282CPN5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 141902000 | PA      | $139302311.37 | 3.00%             | 2030-11-30      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| KFC Holding Co., Pizza Hut Holdings, LLC Taco Bell of America LLC | YUM 4.75 06/01/27 144A                                         | CUSIP: 48250NAC9<br>LEI: 549300G2LG4YUB3MM115 | Long             | DBT              | CORP              | US        |   8757000 | PA      | $8737954.40   | 0.19%             | 2027-06-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| USI Inc                                                           | USI Inc Term Loan B 225 2029-11-01                             | CUSIP: 90351NAR6<br>LEI: 2549006D7UF7072T7I27 | Long             | LON              | CORP              | US        |  13080241 | PA      | $13039430.68  | 0.28%             | 2029-11-21      | Floating      | 5.95%                 | No            |                  2 | 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        |  42564646 | NS      | $42564645.97  | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| DOMINO'S PIZZA MASTER ISSUER LLC                                  | DPABS 2017-1A A23                                              | CUSIP: 25755TAH3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2751380 | PA      | $2732481.32   | 0.06%             | 2047-07-25      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| NVIDIA Corp.                                                      | NVIDIA Corp. COM                                               | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |    859162 | NS      | $149837852.80 | 3.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Icon Parent I Inc                                                 | ICON PARENT INC                                                | CUSIP: 45115DAC2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  13352438 | PA      | $12787763.15  | 0.28%             | 2031-11-13      | Floating      | 6.44%                 | No            |                  2 | On Loan: No      |
| AmWINS Group Inc                                                  | AmWINS Group Term Loan B 200 2032-01-01                        | CUSIP: 03234TBB3<br>LEI: 549300SJE7MUB8NMRG61 | Long             | LON              | CORP              | US        |  33627303 | PA      | $33369045.20  | 0.72%             | 2032-01-30      | Floating      | 5.67%                 | No            |                  2 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION                                  | YUM A 2027-01-15 CALL 180                                      | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |      -151 | NC      | $-67950.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Arista Networks Inc                                               | Arista Networks Inc COM SHS                                    | CUSIP: 040413205<br>LEI: 635400H1WKBLOQERUU95 | Long             | EC               | CORP              | US        |    105900 | NS      | $13002402.00  | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Workday Inc                                                       | Workday Inc CL A                                               | CUSIP: 98138H101<br>LEI: 549300J0DYC0N31V7G13 | Long             | EC               | CORP              | US        |     87829 | NS      | $11410743.68  | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION                                  | KLAC A 2027-01-15 CALL 1840                                    | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |       -15 | NC      | $-225150.00   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION                                  | GOOGL A 2027-01-15 CALL 370                                    | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |       -96 | NC      | $-115200.00   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Service Corporation International                                 | SCI 3.375 08/15/30                                             | CUSIP: 817565CF9<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |   2557000 | PA      | $2358607.23   | 0.05%             | 2030-08-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| EP Wealth Advisors LLC                                            | EP Wealth Advisors Term Loan B 300 2032-09-22                  | CUSIP: 29416NAB2<br>LEI: 254900EMIFA00FZWU856 | Long             | LON              | CORP              | US        |   1516000 | PA      | $1516000.00   | 0.03%             | 2032-10-18      | Floating      | 6.70%                 | No            |                  2 | On Loan: No      |
| MasterCard Incorporated                                           | MasterCard Incorporated CL A                                   | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |     92978 | NS      | $46457387.48  | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Hilton Domestic Operating Co Inc.                                 | HLT 3.625 02/15/32 144A                                        | CUSIP: 432833AN1<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |   9652000 | PA      | $8767170.27   | 0.19%             | 2032-02-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| TransDigm, Inc.                                                   | TDG 6.375 05/31/33 144A                                        | CUSIP: 893647BY2<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |  13220000 | PA      | $13144561.39  | 0.28%             | 2033-05-31      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Bentley Systems Incorporated                                      | Bentley Systems Incorporated COM CL B                          | CUSIP: 08265T208<br>LEI: 549300WVEHPGE0Z56F71 | Long             | EC               | CORP              | US        |    321817 | NS      | $11302213.04  | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION                                  | KLAC A 2027-01-15 CALL 1900                                    | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |       -15 | NC      | $-201000.00   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| GE Aerospace                                                      | GE Aerospace COM NEW                                           | CUSIP: 369604301<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | EC               | CORP              | US        |     20400 | NS      | $5788908.00   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Loire US Holdco 1 Inc                                             | LGC Ltd Term Loan B 400 2030-01-01                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  13463631 | PA      | $13427144.53  | 0.29%             | 2030-01-21      | Floating      | 7.67%                 | No            |                  2 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION                                  | GOOGL A 2027-01-15 CALL 400                                    | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |      -180 | NC      | $-136800.00   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Arcellx Inc                                                       | Arcellx Inc COMMON STOCK                                       | CUSIP: 03940C100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    106458 | NS      | $12223507.56  | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION                                  | SPGI A 2027-01-15 CALL 610                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |       -57 | NC      | $-37392.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Broadstreet Partners Inc                                          | BroadStreet Partners Term Loan B-4 300 2031-06-01              | CUSIP: 11132VAY5<br>LEI: 549300BS9N54G8DD0R75 | Long             | LON              | CORP              | US        |  33491152 | PA      | $32624735.92  | 0.70%             | 2031-06-13      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| Broadstreet Partners Inc                                          | BROPAR 5.875 04/15/29 144A                                     | CUSIP: 11135RAA3<br>LEI: 549300BS9N54G8DD0R75 | Long             | DBT              | CORP              | US        |  10427000 | PA      | $10149550.04  | 0.22%             | 2029-04-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Applied Systems Inc                                               | APPLIED SYSTEMS INC                                            | CUSIP: 000000000<br>LEI: 549300NSKGF0SY5SWQ62 | Long             | LON              | CORP              | US        |  68570548 | PA      | $67160737.58  | 1.45%             | 2031-02-24      | Floating      | 5.95%                 | No            |                  2 | On Loan: No      |
| Ingersoll Rand Inc                                                | Ingersoll Rand Inc COM                                         | CUSIP: 45687V106<br>LEI: 5299004C02FMZCUOIR50 | Long             | EC               | CORP              | US        |    467166 | NS      | $37429339.92  | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| APOGEE THERAPEUTICS INC                                           | Apogee Therapeutics Inc. COM                                   | CUSIP: 03770N101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    375718 | NS      | $31624184.06  | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION                                  | AMD A 2027-01-15 CALL 320                                      | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |      -120 | NC      | $-145920.00   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION                                  | IR A 2027-01-15 CALL 95                                        | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |      -294 | NC      | $-132300.00   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury Notes                                      | T 4 01/31/33                                                   | CUSIP: 91282CPY1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  49616000 | PA      | $49259385.00  | 1.06%             | 2033-01-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MSCI Inc.                                                         | MSCI 5.25 09/01/35                                             | CUSIP: 55354GAR1<br>LEI: 549300HTIN2PD78UB763 | Long             | DBT              | CORP              | US        |   6771000 | PA      | $6631838.41   | 0.14%             | 2035-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| KLA Corp.                                                         | KLA Corp. COM NEW                                              | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               | CORP              | US        |      6036 | NS      | $8887466.76   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION                                  | NFLX A 2027-01-15 CALL 96                                      | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |     -1211 | NC      | $-1713565.00  | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| SLB LTD                                                           | SLB Ltd. COM STK                                               | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | CW        |    245200 | NS      | $12600828.00  | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury Notes                                      | T 3.5 02/28/31                                                 | CUSIP: 91282CQD6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 127468700 | PA      | $125008951.79 | 2.69%             | 2031-02-28      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Broadcom Inc                                                      | Broadcom Inc COM                                               | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |    278445 | NS      | $86181511.95  | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION                                  | IR A 2027-01-15 CALL 100                                       | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |      -294 | NC      | $-57330.00    | -0.00%            |  |  |  | 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      | $41434688.64  | 0.89%             |  |  |  | No            |                  3 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION                                  | SBUX A 2027-01-15 CALL 110                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |      -580 | NC      | $-255200.00   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc.                                                        | Apple Inc. COM                                                 | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |    686008 | NS      | $174101970.32 | 3.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Vaxcyte Inc                                                       | Vaxcyte Inc COM                                                | CUSIP: 92243G108<br>LEI: 254900M7NMHTGASX8D95 | Long             | EC               | CORP              | US        |    184890 | NS      | $10743957.90  | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| CPI Holdco B, LLC                                                 | Creative Planning Term Loan B 200 2031-05-05                   | CUSIP: 1261MAAE0<br>LEI: 254900A9E6SC2CI8V842 | Long             | LON              | CORP              | US        |  17029821 | PA      | $16900224.29  | 0.36%             | 2031-05-17      | Floating      | 5.67%                 | No            |                  2 | On Loan: No      |
| Ryan Specialty LLC                                                | RYASPE 5.875 08/01/32 144A                                     | CUSIP: 78351GAA3<br>LEI: 549300K52N7QBO3PYY45 | Long             | DBT              | CORP              | US        |   5209000 | PA      | $5148282.33   | 0.11%             | 2032-08-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Erasca Inc                                                        | Erasca Inc COM                                                 | CUSIP: 29479A108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    495500 | NS      | $8017190.00   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| NiSource Inc.                                                     | NI V5.75 07/15/56                                              | CUSIP: 65473PAY1<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |  13711000 | PA      | $13494665.10  | 0.29%             | 2056-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Filtration Group Corporation                                      | FILGRO L 10/23/28 11                                           | CUSIP: 31732FAW6<br>LEI: 549300ZA0D9WN5ECE978 | Long             | LON              | CORP              | US        |   6873996 | PA      | $7948645.49   | 0.17%             | 2028-10-21      | Floating      | 5.39%                 | No            |                  2 | On Loan: No      |
| Revvity Inc                                                       | Revvity Inc COM                                                | CUSIP: 714046109<br>LEI: 549300IKL1SDPFI7N655 | Long             | EC               | CORP              | US        |   1092312 | NS      | $95697454.32  | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Bending Spoons US Inc.                                            | Bending Spoons Term Loan B (Add-on) 525 2031-03-01             | CUSIP: 08167PAB2<br>LEI: 9845008E9B4A982B2F23 | Long             | LON              | CORP              | US        |    952800 | PA      | $867047.76    | 0.02%             | 2031-03-07      | Floating      | 9.54%                 | No            |                  2 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION                                  | SBUX A 2027-01-15 CALL 115                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |      -208 | NC      | $-59072.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock Liquidity Funds                                         | BlackRock Liquidity Funds FEDFUND INSTL                        | CUSIP: 09248U700<br>LEI: 5493007YVNX55LTRQ706 | Long             | STIV             | RF                | US        |   9611045 | NS      | $9611045.20   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Service Corporation International                                 | SCI 5.75 10/15/32                                              | CUSIP: 817565CH5<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |   2818000 | PA      | $2810523.56   | 0.06%             | 2032-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION                                  | V A 2026-06-18 CALL 395                                        | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |      -153 | NC      | $-2754.00     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| TransDigm Inc.                                                    | TransDigm Term Loan N 250 2033-02-07                           | CUSIP: 89364MCG7<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |   2170000 | PA      | $2170412.30   | 0.05%             | 2033-02-10      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION                                  | NFLX A 2027-01-15 CALL 98                                      | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |     -1211 | NC      | $-1623951.00  | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Vail Resorts, Inc.                                                | MTN 6.5 05/15/32 144A                                          | CUSIP: 91879QAP4<br>LEI: 529900PSZHRNU9HKH870 | Long             | DBT              | CORP              | US        |   3481000 | PA      | $3514800.51   | 0.08%             | 2032-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION                                  | SPGI A 2027-01-15 CALL 590                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |       -57 | NC      | $-28500.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION                                  | AVGO A 2027-01-15 CALL 410                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |      -182 | NC      | $-406952.00   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Wyndham Hotels & Resorts Inc                                      | Wyndham Hotels & Resorts Term Loan B 175 2030-05-01            | CUSIP: 98310CAF9<br>LEI: 549300FE3MQ4RVXXC673 | Long             | LON              | CORP              | US        |   2868652 | PA      | $2876225.00   | 0.06%             | 2030-05-24      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| Gallagher Aj &Co                                                  | Gallagher Aj &Co COM                                           | CUSIP: 363576109<br>LEI: 54930049QLLMPART6V29 | Long             | EC               | CORP              | US        |    117447 | NS      | $25436671.26  | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Hilton Domestic Operating Co Inc.                                 | HLT 5.75 09/15/33 144A                                         | CUSIP: 432833AS0<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |   6121000 | PA      | $6091876.28   | 0.13%             | 2033-09-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| TransDigm, Inc.                                                   | TDG 6.25 01/31/34 144A                                         | CUSIP: 893647BZ9<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    880000 | PA      | $889391.36    | 0.02%             | 2034-01-31      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co., Ltd.                      | Taiwan Semiconductor Manufacturing Co., Ltd. SPONSORED ADS     | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |    124700 | NS      | $42142365.00  | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Yum! Brands Inc.                                                  | YUM 5.35 11/01/43                                              | CUSIP: 988498AK7<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |   6180000 | PA      | $5842219.74   | 0.13%             | 2043-11-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| SBA Communications Corp.                                          | SBAC 3.125 02/01/29                                            | CUSIP: 78410GAG9<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | DBT              | CORP              | US        |   7128000 | PA      | $6754619.61   | 0.15%             | 2029-02-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION                                  | V A 2027-01-15 CALL 360                                        | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |      -110 | NC      | $-116600.00   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Netflix, Inc.                                                     | Netflix, Inc. COM                                              | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |    363300 | NS      | $34931295.00  | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| TransDigm, Inc.                                                   | TDG 6.75 01/31/34 144a                                         | CUSIP: 893647CA3<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   9848000 | PA      | $9975876.28   | 0.22%             | 2034-01-31      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| HUB International Ltd.                                            | HBGCN 7.25 06/15/30 144A                                       | CUSIP: 44332PAH4<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |  40112000 | PA      | $41112353.17  | 0.89%             | 2030-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Transdigm Inc                                                     | TransDigm Term Loan K 225 2030-03-01                           | CUSIP: 89364MCF9<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |  23146909 | PA      | $23140658.93  | 0.50%             | 2030-03-22      | Floating      | 5.92%                 | No            |                  2 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION                                  | MA A 2026-06-18 CALL 670                                       | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |      -102 | NC      | $-1938.00     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION                                  | YUM A 2027-01-15 CALL 185                                      | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |      -151 | NC      | $-35485.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| DYNE THERAPEUTICS INC                                             | Dyne Therapeutics Inc. COM                                     | CUSIP: 26818M108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    234018 | NS      | $4242746.34   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Waters Corporation                                                | Waters Corporation COM                                         | CUSIP: 941848103<br>LEI: 5T547R1474YC9HOD8Q74 | Long             | EC               | CORP              | US        |    198358 | NS      | $59071012.40  | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION                                  | MA A 2027-01-15 CALL 570                                       | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |       -47 | NC      | $-106690.00   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Booz Allen Hamilton Inc                                           | BAH 5.95 08/04/33                                              | CUSIP: 09951LAC7<br>LEI: 549300D7XCH2480XU542 | Long             | DBT              | CORP              | US        |   2469000 | PA      | $2521539.48   | 0.05%             | 2033-08-04      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Korn Ferry                                                        | KFY 4.625 12/15/27 144A                                        | CUSIP: 50067PAA7<br>LEI: 549300FOD20OM0GT5G40 | Long             | DBT              | CORP              | US        |   3386000 | PA      | $3352295.76   | 0.07%             | 2027-12-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Iqvia Inc                                                         | IQV 5 05/15/27 144A                                            | CUSIP: 46266TAA6<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |   4372000 | PA      | $4355343.99   | 0.09%             | 2027-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SBA Tower Trust                                                   | SBATOW 6.599 01/15/28 144A                                     | CUSIP: 78403DAZ3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    256000 | PA      | $260327.48    | 0.01%             | 2028-01-15      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| Cencora Inc                                                       | Cencora Inc COM                                                | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | EC               | CORP              | US        |    205687 | NS      | $64614514.18  | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION                                  | MA A 2027-01-15 CALL 580                                       | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |       -78 | NC      | $-159900.00   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Applied Systems Inc                                               | Applied Systems Second-lien Term Loan 450 2031-02-01           | CUSIP: 03827FBC4<br>LEI: 549300NSKGF0SY5SWQ62 | Long             | LON              | CORP              | US        |   9928116 | PA      | $9775024.45   | 0.21%             | 2032-02-23      | Floating      | 8.20%                 | No            |                  2 | On Loan: No      |
| Hologic Inc                                                       | HOLX 3.25 02/15/29 144A                                        | CUSIP: 436440AP6<br>LEI: 549300DYP6F5ZJL0LB74 | Long             | DBT              | CORP              | US        |   2541000 | PA      | $2538433.59   | 0.05%             | 2029-02-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION                                  | GOOGL A 2027-01-15 CALL 360                                    | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |       -99 | NC      | $-139590.00   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Alnylam Pharmaceuticals Inc.                                      | Alnylam Pharmaceuticals Inc. COM                               | CUSIP: 02043Q107<br>LEI: 529900S3ZI14OWRJII50 | Long             | EC               | CORP              | US        |    121600 | NS      | $40233792.00  | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| TransDigm, Inc.                                                   | TDG 4.625 01/15/29                                             | CUSIP: 893647BP1<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   3763000 | PA      | $3696835.92   | 0.08%             | 2029-01-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Cytokinetics Inc                                                  | Cytokinetics Inc COM NEW                                       | CUSIP: 23282W605<br>LEI: 549300BE5DY1HW7IHA64 | Long             | EC               | CORP              | US        |    382314 | NS      | $25198315.74  | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Amwins Group Inc                                                  | AMWINS 6.375 02/15/29 144A                                     | CUSIP: 031921AC3<br>LEI: 549300SJE7MUB8NMRG61 | Long             | DBT              | CORP              | US        |   3277000 | PA      | $3295993.49   | 0.07%             | 2029-02-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION                                  | GOOGL A 2027-01-15 CALL 360                                    | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |       -96 | NC      | $-135360.00   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Service Corporation International                                 | SCI 4.625 12/15/27                                             | CUSIP: 817565CD4<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |    479000 | PA      | $473994.02    | 0.01%             | 2027-12-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| DoorDash Inc                                                      | DoorDash Inc CL A                                              | CUSIP: 25809K105<br>LEI: 549300NUQ43FGGSK5051 | Long             | EC               | CORP              | US        |    226090 | NS      | $33947413.50  | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION                                  | AAPL A 2027-01-15 CALL 300                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |      -291 | NC      | $-327375.00   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com, Inc.                                                  | Amazon.com, Inc. COM                                           | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |   1109310 | NS      | $231035993.70 | 4.98%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co.                                              | JPMorgan Chase & Co. COM                                       | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |    110000 | NS      | $32357600.00  | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION                                  | NFLX A 2027-01-15 CALL 100                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |     -1211 | NC      | $-1494374.00  | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| TransDigm, Inc.                                                   | TDG 6.75 08/15/28 144A                                         | CUSIP: 893647BR7<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   2152000 | PA      | $2178217.82   | 0.05%             | 2028-08-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Dominos Pizza Inc.                                                | DPABS 2019-1A A2                                               | CUSIP: 25755TAL4<br>LEI: 25490005ZWM1IF9UXU57 | Long             | ABS-O            | CORP              | US        |   2126400 | PA      | $2041753.97   | 0.04%             | 2049-10-25      | Fixed         | 3.67%                 | No            |                  2 | On Loan: No      |
| SBA Communications Corp.                                          | SBAC 3.875 02/15/27                                            | CUSIP: 78410GAD6<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | DBT              | CORP              | US        |   8504000 | PA      | $8417130.11   | 0.18%             | 2027-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Eli Lilly & Co.                                                   | Eli Lilly & Co. COM                                            | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |     44811 | NS      | $41215813.47  | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Micron Technology Inc.                                            | Micron Technology Inc. COM                                     | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |     22600 | NS      | $7635184.00   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION                                  | DASH A 2027-01-15 CALL 230                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |      -122 | NC      | $-113460.00   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION                                  | GOOGL A 2027-01-15 CALL 350                                    | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |       -99 | NC      | $-165330.00   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Hilton Worldwide Finance LLC                                      | Hilton Worldwide Term Loan B-4 175 2030-11-01                  | CUSIP: 43289DAK9<br>LEI: 5493003EG7H0N1E4XV50 | Long             | LON              | CORP              | US        |  19717055 | PA      | $19741701.63  | 0.43%             | 2030-11-08      | Floating      | 5.43%                 | No            |                  2 | On Loan: No      |
| Centerpoint Energy Inc                                            | CNP V5.95 04/01/56                                             | CUSIP: 15189TBS5<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | DBT              | CORP              | US        |   8872000 | PA      | $8787739.95   | 0.19%             | 2056-04-01      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| American Electric Power Co, Inc.                                  | AEP V6.05 03/15/56 D                                           | CUSIP: 02557TAF6<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |   7090000 | PA      | $7024470.18   | 0.15%             | 2056-03-15      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION                                  | SBUX A 2027-01-15 CALL 105                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |      -580 | NC      | $-344520.00   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Ellucian Holdings Inc.                                            | DAEL 6.5 12/01/29 144A                                         | CUSIP: 289178AA3<br>LEI: 549300RP8NIJ7FY7OS79 | Long             | DBT              | CORP              | US        |   4272000 | PA      | $4172435.49   | 0.09%             | 2029-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| USI Inc                                                           | USI Inc Term Loan B 225 2030-09-01                             | CUSIP: 90351NAQ8<br>LEI: 2549006D7UF7072T7I27 | Long             | LON              | CORP              | US        |  13198926 | PA      | $13149430.39  | 0.28%             | 2030-09-27      | Floating      | 5.95%                 | No            |                  2 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION                                  | V A 2027-01-15 CALL 365                                        | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |       -61 | NC      | $-56974.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Hilton Domestic Operating Co Inc.                                 | HLT 5.875 04/01/29 144A                                        | CUSIP: 432833AP6<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |   3928000 | PA      | $3966180.16   | 0.09%             | 2029-04-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION                                  | JPM A 2027-01-15 CALL 330                                      | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |      -183 | NC      | $-284748.00   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Hilton Domestic Operating Co Inc.                                 | HLT 5.5 03/31/34 144A                                          | CUSIP: 432833AT8<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |   4880000 | PA      | $4766492.66   | 0.10%             | 2034-03-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PPL Corporation                                                   | PPL Corporation COM                                            | CUSIP: 69351T106<br>LEI: 9N3UAJSNOUXFKQLF3V18 | Long             | EC               | CORP              | US        |    922719 | NS      | $35247865.80  | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Ascend Learning LLC                                               | Ascend Learning First-lien Term Loan 300 2028-12-01            | CUSIP: 04349HAN4<br>LEI: 549300T466HKRLVCD610 | Long             | LON              | CORP              | US        |   9226297 | PA      | $8995639.78   | 0.19%             | 2028-12-11      | Floating      | 6.67%                 | No            |                  2 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION                                  | COR A 2027-01-15 CALL 390                                      | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |       -72 | NC      | $-57600.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Southern Co.                                                      | SO V6 04/01/58                                                 | CUSIP: 842587EJ2<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |   9506000 | PA      | $9554214.43   | 0.21%             | 2058-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Ascendis Pharma A/S                                               | Ascendis Pharma A/S SPONSORED ADR                              | CUSIP: 04351P101<br>LEI: 549300B66JN3W3J8GH73 | Long             | EC               | CORP              | DK        |    194855 | NS      | $44569184.15  | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Bending Spoons US Inc.                                            | Bending Spoons Term Loan B (Incremental) 587.5 2031-03-01      | CUSIP: 08167PAD8<br>LEI: 9845008E9B4A982B2F23 | Long             | LON              | CORP              | US        |  16022000 | PA      | $14580020.00  | 0.31%             | 2031-03-07      | Floating      | 9.54%                 | No            |                  2 | On Loan: No      |
| ELLUCIAN HOLDING Inc                                              | Ellucian Term Loan B 300 2029-10-01                            | CUSIP: 28917XAB6<br>LEI: 549300RP8NIJ7FY7OS79 | Long             | LON              | CORP              | US        |  11590284 | PA      | $11254629.69  | 0.24%             | 2029-10-08      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| Yum! Brands Inc.                                                  | YUM 5.375 04/01/32                                             | CUSIP: 988498AR2<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |   7196000 | PA      | $7122289.93   | 0.15%             | 2032-04-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Crowdstrike Holdings Inc                                          | CRWD 3 02/15/29                                                | CUSIP: 22788CAA3<br>LEI: 549300YBY08K9KM4HX32 | Long             | DBT              | CORP              | US        |    572000 | PA      | $544913.80    | 0.01%             | 2029-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION                                  | GE A 2027-01-15 CALL 340                                       | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |      -102 | NC      | $-176460.00   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Vail Resorts, Inc.                                                | MTN 5.625 07/15/30 144A                                        | CUSIP: 91879QAQ2<br>LEI: 529900PSZHRNU9HKH870 | Long             | DBT              | CORP              | US        |   1555000 | PA      | $1542136.26   | 0.03%             | 2030-07-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| PTC Inc                                                           | PTC Inc COM                                                    | CUSIP: 69370C100<br>LEI: 54930050SSMU8SKDJ030 | Long             | EC               | CORP              | US        |    572099 | NS      | $81518386.51  | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Sophia LP                                                         | Ellucian Term Loan B 300 2029-10-01                            | CUSIP: 28917XAB6<br>LEI: 549300RP8NIJ7FY7OS79 | Long             | LON              | CORP              | US        |   1399000 | PA      | $1358484.96   | 0.03%             | 2029-10-08      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| SBA Senior Finance II LLC                                         | SBA Communications Term Loan B 175 2031-01-01                  | CUSIP: 78404XAJ4<br>LEI: 549300PVT2ADFWMYEW87 | Long             | LON              | CORP              | US        |   9178707 | PA      | $9205508.55   | 0.20%             | 2031-01-25      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION                                  | AMD A 2027-01-15 CALL 310                                      | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |      -120 | NC      | $-165000.00   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| TransDigm, Inc.                                                   | TDG 6.625 03/01/32 144A                                        | CUSIP: 893647BV8<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |  16679000 | PA      | $17002122.27  | 0.37%             | 2032-03-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                      | T 3.75 02/28/33                                                | CUSIP: 91282CQC8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  87545700 | PA      | $85589600.77  | 1.85%             | 2033-02-28      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Abbott Laboratories                                               | Abbott Laboratories COM                                        | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |    129922 | NS      | $13339091.74  | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION                                  | GOOGL A 2027-01-15 CALL 340                                    | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |       -99 | NC      | $-188595.00   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury Notes                                      | T 3.625 10/31/30                                               | CUSIP: 91282CPD7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 176847000 | PA      | $174581147.81 | 3.76%             | 2030-10-31      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION                                  | MA A 2027-01-15 CALL 600                                       | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |      -125 | NC      | $-216375.00   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                                                          | Visa Inc COM CL A                                              | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |    110643 | NS      | $33440740.32  | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Mariner Wealth Advisors LLC                                       | Mariner Wealth Advisors Term Loan B (Add-on) 225 2030-12-01    | CUSIP: 56846TAJ5<br>LEI: 549300XJJOOU336E5R24 | Long             | LON              | CORP              | US        |   7977250 | PA      | $7945660.42   | 0.17%             | 2030-12-31      | Floating      | 5.95%                 | No            |                  2 | On Loan: No      |
| Iqvia Inc                                                         | IQV 6.5 05/15/30 144A                                          | CUSIP: 46266TAD0<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |   2589000 | PA      | $2642509.45   | 0.06%             | 2030-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                      | T 3.875 12/31/32                                               | CUSIP: 91282CPQ8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  62380000 | PA      | $61502781.25  | 1.33%             | 2032-12-31      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                      | T 3.625 09/30/30                                               | CUSIP: 91282CPA3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  79207000 | PA      | $78232382.42  | 1.69%             | 2030-09-30      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Usi Inc                                                           | COMINV 7.5 01/15/32 144A                                       | CUSIP: 90346KAB5<br>LEI: 2549006D7UF7072T7I27 | Long             | DBT              | CORP              | US        |   8714000 | PA      | $8831656.43   | 0.19%             | 2032-01-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION                                  | YUM A 2027-01-15 CALL 165                                      | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |      -199 | NC      | $-189050.00   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury Notes                                      | T 3.625 12/31/30                                               | CUSIP: 91282CPR6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  55375000 | PA      | $54628735.49  | 1.18%             | 2030-12-31      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Starbucks Corp.                                                   | Starbucks Corp. COM                                            | CUSIP: 855244109<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | EC               | CORP              | US        |    605355 | NS      | $54233754.45  | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc.                                           | UnitedHealth Group Inc. COM                                    | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |    142755 | NS      | $38628075.45  | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| ConocoPhillips                                                    | ConocoPhillips COM                                             | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |     75100 | NS      | $9913200.00   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Booz Allen Hamilton Inc                                           | BAH 4 07/01/29 144A                                            | CUSIP: 09951LAB9<br>LEI: 549300D7XCH2480XU542 | Long             | DBT              | CORP              | US        |   2245000 | PA      | $2172152.74   | 0.05%             | 2029-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Advanced Micro Devices Inc.                                       | Advanced Micro Devices Inc. COM                                | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |    332986 | NS      | $67739341.98  | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| WILLIS TOWERS WATSON PLC                                          | Willis Towers Watson Public Limited Company COM USD0.000304635 | CUSIP: 000000000<br>LEI: 549300WHC56FF48KL350 | Long             | EC               | CORP              | IE        |     78446 | NS      | $22804252.20  | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Surgery Center Holdings, Inc.                                     | SURCEN 7.25 04/15/32 144A                                      | CUSIP: 86881WAF9<br>LEI: 54930054EVI5HWPPW113 | Long             | DBT              | CORP              | US        |   2215000 | PA      | $2167305.73   | 0.05%             | 2032-04-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Hilton Domestic Operating Co Inc.                                 | HLT 4.875 01/15/30                                             | CUSIP: 432833AF8<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |   7217000 | PA      | $7105028.97   | 0.15%             | 2030-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Ryan Specialty Group LLC                                          | Ryan Specialty Group Term Loan B 225 2031-09-04                | CUSIP: 78350UAJ4<br>LEI: 549300K52N7QBO3PYY45 | Long             | LON              | CORP              | US        |    616319 | PA      | $614778.30    | 0.01%             | 2031-09-15      | Floating      | 5.67%                 | No            |                  2 | On Loan: No      |
| Yum! Brands Inc.                                                  | Yum! Brands Inc. COM                                           | CUSIP: 988498101<br>LEI: 549300JE8XHZZ7OHN517 | Long             | EC               | CORP              | US        |    177932 | NS      | $27664867.36  | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| PTC Inc                                                           | PTC 4 02/15/28 144A                                            | CUSIP: 69370CAC4<br>LEI: 54930050SSMU8SKDJ030 | Long             | DBT              | CORP              | US        |   3591000 | PA      | $3497769.74   | 0.08%             | 2028-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Yum! Brands Inc.                                                  | YUM 3.625 03/15/31                                             | CUSIP: 988498AN1<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |   4955000 | PA      | $4575403.69   | 0.10%             | 2031-03-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| BioNTech SE                                                       | BioNTech SE SPONSORED ADS                                      | CUSIP: 09075V102<br>LEI: 894500UZJ5LG1F8J1U58 | Long             | EC               | CORP              | DE        |    166696 | NS      | $14815940.48  | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| S&P Global Inc                                                    | S&P Global Inc COM                                             | CUSIP: 78409V104<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | EC               | CORP              | US        |     11400 | NS      | $4848876.00   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury Notes                                      | T 3.75 01/31/31                                                | CUSIP: 91282CPW5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  78449000 | PA      | $77793215.00  | 1.68%             | 2031-01-31      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Meta Platforms Inc                                                | Meta Platforms Inc CL A                                        | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |    307561 | NS      | $175964874.93 | 3.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Hilton Domestic Operating Co Inc.                                 | HLT 4 05/01/31 144A                                            | CUSIP: 432833AL5<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |   7522000 | PA      | $7039419.32   | 0.15%             | 2031-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TransDigm, Inc.                                                   | TDG 6.375 03/01/29 144A                                        | CUSIP: 893647BU0<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |  11499000 | PA      | $11674865.71  | 0.25%             | 2029-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| TransDigm, Inc.                                                   | TDG 6.125 07/31/34 144A                                        | CUSIP: 893647CB1<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   2952000 | PA      | $2903028.68   | 0.06%             | 2034-07-31      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Epicor Software Corporation                                       | Epicor Term Loan B 325 2031-05-14                              | CUSIP: 29426NAZ7<br>LEI: JGNXVGGGXR4O1L5I7S73 | Long             | LON              | CORP              | US        |   9912376 | PA      | $9711650.78   | 0.21%             | 2031-05-30      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| American Electric Power Co, Inc.                                  | AEP V5.8 03/15/56 C                                            | CUSIP: 02557TAE9<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |   7170000 | PA      | $7082048.33   | 0.15%             | 2056-03-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION                                  | V A 2027-01-15 CALL 375                                        | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |      -110 | NC      | $-74800.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Yum! Brands Inc.                                                  | YUM 4.75 01/15/30 144A                                         | CUSIP: 988498AL5<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |   4113000 | PA      | $4043343.05   | 0.09%             | 2030-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Hilton Domestic Operating Co Inc.                                 | HLT 3.75 05/01/29 144A                                         | CUSIP: 432833AJ0<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |   8034000 | PA      | $7684056.63   | 0.17%             | 2029-05-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION                                  | COR A 2027-01-15 CALL 400                                      | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |       -72 | NC      | $-47520.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp.                                                   | Microsoft Corp. COM                                            | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |    558946 | NS      | $206905040.82 | 4.46%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-21

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

**Signature:** Steven Viola

**Name of Signer:** Steven Viola

**Title:** Treasurer