<SEC-DOCUMENT>0001752724-20-194586.txt : 20200925
<SEC-HEADER>0001752724-20-194586.hdr.sgml : 20200925
<ACCEPTANCE-DATETIME>20200925150352
ACCESSION NUMBER:		0001752724-20-194586
CONFORMED SUBMISSION TYPE:	NPORT-P
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20200731
FILED AS OF DATE:		20200925
PERIOD START:           	20201031

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DNP SELECT INCOME FUND INC
		CENTRAL INDEX KEY:			0000806628
		IRS NUMBER:				363480989
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		NPORT-P
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-04915
		FILM NUMBER:		201199436

	BUSINESS ADDRESS:	
		STREET 1:		PO BOX 32760
		CITY:			LOUISVILLE
		STATE:			KY
		ZIP:			40232
		BUSINESS PHONE:		3123685510

	MAIL ADDRESS:	
		STREET 1:		PO BOX 32760
		CITY:			LOUISVILLE
		STATE:			KY
		ZIP:			40232

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DUFF & PHELPS SELECTED UTILITIES INC
		DATE OF NAME CHANGE:	19910429
</SEC-HEADER>
<DOCUMENT>
<TYPE>NPORT-P
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
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      <repPdEnd>2020-10-31</repPdEnd>
      <repPdDate>2020-07-31</repPdDate>
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        <name>TC Energy Corp</name>
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      <invstOrSec>
        <name>Enterprise Products Partners L</name>
        <lei>K4CDIF4M54DJZ6TB4Q48</lei>
        <title>Enterprise Products Partners LP</title>
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      <invstOrSec>
        <name>Magellan Midstream Partners LP</name>
        <lei>MZF5TI8NFVZZNUSKDL39</lei>
        <title>Magellan Midstream Partners LP</title>
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          <ticker value="MMP"/>
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        <name>CONNECTICUT LIGHT &amp; PWR</name>
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      <invstOrSec>
        <name>VALERO ENERGY PARTNERS</name>
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        <title>Valero Energy Partners LP</title>
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        <name>AMERICAN WATER CAPITAL C</name>
        <lei>5IDHQUFVC8Q2KIBBFF06</lei>
        <title>American Water Capital Corp</title>
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          <isin value="US03040WAL90"/>
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      <invstOrSec>
        <name>VIRGINIA ELEC &amp; POWER CO</name>
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        <title>Virginia Electric and Power Co</title>
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          <maturityDt>2026-01-15</maturityDt>
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      <invstOrSec>
        <name>ENBRIDGE INC</name>
        <lei>98TPTUM4IVMFCZBCUR27</lei>
        <title>Enbridge Inc</title>
        <cusip>29250NAL9</cusip>
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        <balance>11000000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-12-01</maturityDt>
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          <annualizedRt>4.25000000</annualizedRt>
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      <invstOrSec>
        <name>ENERGY TRANSFER OPERATNG</name>
        <lei>5493008K8W3OKZE54J59</lei>
        <title>Energy Transfer Operating LP</title>
        <cusip>29273RBC2</cusip>
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          <isin value="US29273RBC25"/>
          <other otherDesc="SEDOL" value="BHBFCK6"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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          <maturityDt>2029-11-15</maturityDt>
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      <invstOrSec>
        <name>PLAINS ALL AMER PIPELINE</name>
        <lei>N/A</lei>
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          <maturityDt>2025-10-15</maturityDt>
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          <annualizedRt>4.65000000</annualizedRt>
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        <name>WILLIAMS COMPANIES INC</name>
        <lei>D71FAKCBLFS2O0RBPG08</lei>
        <title>Williams Cos Inc/The</title>
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        <invCountry>US</invCountry>
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          <maturityDt>2022-03-15</maturityDt>
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          <annualizedRt>3.60000000</annualizedRt>
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        <name>CMS ENERGY CORP</name>
        <lei>549300IA9XFBAGNIBW29</lei>
        <title>CMS Energy Corp</title>
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        <name>CMS ENERGY CORP</name>
        <lei>549300IA9XFBAGNIBW29</lei>
        <title>CMS Energy Corp</title>
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        <name>FLORIDA POWER &amp; LIGHT CO</name>
        <lei>A89MY1K3YLIGJMYWVX50</lei>
        <title>Florida Power &amp; Light Co</title>
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        <name>AT&amp;T INC</name>
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        <title>AT&amp;T Inc</title>
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        <name>ENERGY TRANSFER OPERATNG</name>
        <lei>5493008K8W3OKZE54J59</lei>
        <title>Energy Transfer Operating LP</title>
        <cusip>29273RBB4</cusip>
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        <name>DUKE ENERGY CORP</name>
        <lei>I1BZKREC126H0VB1BL91</lei>
        <title>Duke Energy Corp</title>
        <cusip>26441CAX3</cusip>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>DTE Energy Co</name>
        <lei>549300IX8SD6XXD71I78</lei>
        <title>DTE Energy Co</title>
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        <name>Spire Inc</name>
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      <invstOrSec>
        <name>MAGELLAN MIDSTREAM PARTN</name>
        <lei>MZF5TI8NFVZZNUSKDL39</lei>
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      <invstOrSec>
        <name>Ameren Corp</name>
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        <name>Pembina Pipeline Corp</name>
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      <invstOrSec>
        <name>Westlake Chemical Partners LP</name>
        <lei>5493001UJXZP4TJUQM76</lei>
        <title>Westlake Chemical Partners LP</title>
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          <isin value="US9604171036"/>
          <ticker value="WLKP"/>
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      <invstOrSec>
        <name>Pinnacle West Capital Corp</name>
        <lei>TWSEY0NEDUDCKS27AH81</lei>
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        <name>FirstEnergy Corp</name>
        <lei>549300SVYJS666PQJH88</lei>
        <title>FirstEnergy Corp</title>
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        <name>Comcast Corp</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>Comcast Corp</title>
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        <name>Atmos Energy Corp</name>
        <lei>QVLWEGTD2S8GJMO8D383</lei>
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        <name>DCP Midstream LP</name>
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        <cusip>23311P100</cusip>
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        <name>VODAFONE GROUP PLC</name>
        <lei>213800TB53ELEUKM7Q61</lei>
        <title>Vodafone Group PLC</title>
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        <name>ONEOK INC</name>
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        <name>WEC Energy Group Inc</name>
        <lei>549300IGLYTZUK3PVP70</lei>
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        <name>Cheniere Energy Inc</name>
        <lei>MIHC87W9WTYSYZWV1J40</lei>
        <title>Cheniere Energy Inc</title>
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        <name>ENTERPRISE PRODUCTS OPER</name>
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        <name>BCE Inc</name>
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        <name>ENTERGY LOUISIANA LLC</name>
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        <title>Entergy Louisiana LLC</title>
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        <name>TCI COMMUNICATIONS INC</name>
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        <name>VERIZON COMMUNICATIONS</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>Verizon Communications Inc</title>
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        <name>Enbridge Inc</name>
        <lei>98TPTUM4IVMFCZBCUR27</lei>
        <title>Enbridge Inc</title>
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        <name>TRANSCANADA PIPELINES</name>
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        <name>Evergy Inc</name>
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        <name>Equitrans Midstream Corp</name>
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        <name>Public Service Enterprise Grou</name>
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        <name>AT&amp;T Inc</name>
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        <name>American Electric Power Co Inc</name>
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        <name>Kinder Morgan Inc</name>
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        <name>American Water Works Co Inc</name>
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        <name>Plains All American Pipeline L</name>
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        <name>NextEra Energy Partners LP</name>
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        <name>PHILLIPS 66</name>
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        <name>ONEOK Inc</name>
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        <name>Emera Inc</name>
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        <name>Shell Midstream Partners LP</name>
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      <invstOrSec>
        <name>Eversource Energy</name>
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        <name>ARIZONA PUBLIC SERVICE</name>
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        <name>MPLX LP</name>
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          <isin value="US55336V1008"/>
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      <invstOrSec>
        <name>OGE Energy Corp</name>
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        <name>Cheniere Energy Partners LP</name>
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          <isin value="US16411Q1013"/>
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      <invstOrSec>
        <name>PUBLIC SERVICE CO OF NEW</name>
        <lei>OFZN1UT56PNG1CGSR346</lei>
        <title>Public Service Co of New Mexico</title>
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        <name>Dominion Energy Inc</name>
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        <name>Rattler Midstream LP</name>
        <lei>549300I45NRVEEN9M219</lei>
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        <name>NISOURCE INC</name>
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        <title>NiSource Inc</title>
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        <name>OHIO POWER COMPANY</name>
        <lei>06ZODLC132CY1O2Y7D77</lei>
        <title>Ohio Power Co</title>
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        <name>Essential Utilities Inc</name>
        <lei>549300ILTEOF3E3QY357</lei>
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        <name>PUBLIC SERVICE ELECTRIC</name>
        <lei>549300RUHPVD434XUK18</lei>
        <title>Public Service Electric and Gas Co</title>
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        <name>DTE ELECTRIC CO</name>
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        <title>DTE Electric Co</title>
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        <name>CROWN CASTLE INTL CORP</name>
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        <name>ONE Gas Inc</name>
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        <title>ONE Gas Inc</title>
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        <name>PUBLIC SERVICE ELECTRIC</name>
        <lei>549300RUHPVD434XUK18</lei>
        <title>Public Service Electric and Gas Co</title>
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        <name>Williams Cos Inc/The</name>
        <lei>D71FAKCBLFS2O0RBPG08</lei>
        <title>Williams Cos Inc/The</title>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ENTERGY TEXAS INC</name>
        <lei>LWXX58X12AJXISQ28573</lei>
        <title>Entergy Texas Inc</title>
        <cusip>29365TAG9</cusip>
        <identifiers>
          <isin value="US29365TAG94"/>
          <other otherDesc="SEDOL" value="BHZRX16"/>
        </identifiers>
        <balance>4000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4754043.72000000</valUSD>
        <pctVal>0.171523362816</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EDISON INTERNATIONAL</name>
        <lei>549300I7ROF15MAEVP56</lei>
        <title>Edison International</title>
        <cusip>281020AM9</cusip>
        <identifiers>
          <isin value="US281020AM97"/>
          <other otherDesc="SEDOL" value="BF28Y93"/>
        </identifiers>
        <balance>5600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6042859.76000000</valUSD>
        <pctVal>0.218023158412</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Phillips 66 Partners LP</name>
        <lei>549300TL5L4IG0H4FX64</lei>
        <title>Phillips 66 Partners LP</title>
        <cusip>718549207</cusip>
        <identifiers>
          <isin value="US7185492078"/>
          <ticker value="PSXP"/>
        </identifiers>
        <balance>218419.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6072048.20000000</valUSD>
        <pctVal>0.219076261765</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Marathon Petroleum Corp</name>
        <lei>3BNYRYQHD39K4LCKQF12</lei>
        <title>Marathon Petroleum Corp</title>
        <cusip>56585A102</cusip>
        <identifiers>
          <isin value="US56585A1025"/>
          <ticker value="MPC"/>
        </identifiers>
        <balance>185000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7067000.00000000</valUSD>
        <pctVal>0.254973592254</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sempra Energy</name>
        <lei>PBBKGKLRK5S5C0Y4T545</lei>
        <title>Sempra Energy</title>
        <cusip>816851109</cusip>
        <identifiers>
          <isin value="US8168511090"/>
          <ticker value="SRE"/>
        </identifiers>
        <balance>702400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>87420704.00000000</valUSD>
        <pctVal>3.154092392291</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="28003500.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Keyera Corp</name>
        <lei>N/A</lei>
        <title>Keyera Corp</title>
        <cusip>493271100</cusip>
        <identifiers>
          <isin value="CA4932711001"/>
          <ticker value="KEY"/>
          <other otherDesc="SEDOL" value="B3SGMV5"/>
        </identifiers>
        <balance>325000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.33950000"/>
        <valUSD>4939902.95000000</valUSD>
        <pctVal>0.178229064744</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INTERSTATE POWER &amp; LIGHT</name>
        <lei>EF9UQIIO4KY2BWOK3P26</lei>
        <title>Interstate Power and Light Co</title>
        <cusip>461070AL8</cusip>
        <identifiers>
          <isin value="US461070AL87"/>
          <other otherDesc="SEDOL" value="BSQXCH9"/>
        </identifiers>
        <balance>11000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>12129423.68000000</valUSD>
        <pctVal>0.437623139616</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>American Tower Corp</name>
        <lei>5493006ORUSIL88JOE18</lei>
        <title>American Tower Corp</title>
        <cusip>03027X100</cusip>
        <identifiers>
          <isin value="US03027X1000"/>
          <ticker value="AMT"/>
        </identifiers>
        <balance>289000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>75541710.00000000</valUSD>
        <pctVal>2.725504622013</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vodafone Group PLC</name>
        <lei>213800TB53ELEUKM7Q61</lei>
        <title>Vodafone Group PLC</title>
        <cusip>92857W308</cusip>
        <identifiers>
          <isin value="US92857W3088"/>
          <ticker value="VOD"/>
        </identifiers>
        <balance>782200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11889440.00000000</valUSD>
        <pctVal>0.428964656388</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Energy Transfer LP</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>Energy Transfer LP</title>
        <cusip>29273V100</cusip>
        <identifiers>
          <isin value="US29273V1008"/>
          <ticker value="ET"/>
        </identifiers>
        <balance>2954062.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>19349106.10000000</valUSD>
        <pctVal>0.698105432182</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Edison International</name>
        <lei>549300I7ROF15MAEVP56</lei>
        <title>Edison International</title>
        <cusip>281020107</cusip>
        <identifiers>
          <isin value="US2810201077"/>
          <ticker value="EIX"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>55670000.00000000</valUSD>
        <pctVal>2.008543919743</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Golar LNG Ltd</name>
        <lei>213800C2VSFZG3EZLO34</lei>
        <title>Golar LNG Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BMG9456A1009"/>
          <ticker value="GLNG"/>
        </identifiers>
        <balance>515000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3862500.00000000</valUSD>
        <pctVal>0.139356940722</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ENTERPRISE PRODUCTS OPER</name>
        <lei>5493004LGN656HWLDA30</lei>
        <title>Enterprise Products Operating LLC</title>
        <cusip>29379VBV4</cusip>
        <identifiers>
          <isin value="US29379VBV45"/>
          <other otherDesc="SEDOL" value="BHWTW63"/>
        </identifiers>
        <balance>6000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6611465.82000000</valUSD>
        <pctVal>0.238538161906</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KONINKLIJKE KPN NV</name>
        <lei>549300YO0JZHAL7FVP81</lei>
        <title>Koninklijke KPN NV</title>
        <cusip>780641AH9</cusip>
        <identifiers>
          <isin value="US780641AH94"/>
          <other otherDesc="SEDOL" value="2734385"/>
        </identifiers>
        <balance>15000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>22276779.45000000</valUSD>
        <pctVal>0.803734325772</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="18563834.36313700"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Orange SA</name>
        <lei>969500MCOONR8990S771</lei>
        <title>Orange SA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FR0000133308"/>
          <ticker value="ORA"/>
          <other otherDesc="SEDOL" value="5176177"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84566600"/>
        <valUSD>11720939.47000000</valUSD>
        <pctVal>0.422885247101</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2020-09-24</ncom:dateSigned>
      <ncom:nameOfApplicant>DNP Select Income Fund Inc</ncom:nameOfApplicant>
      <ncom:signature>Dianna P. Wengler</ncom:signature>
      <ncom:signerName>Dianna P. Wengler</ncom:signerName>
      <ncom:title>Vice President and Assistant Secretary </ncom:title>
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<FILENAME>1100236DNPSelectIncomeFdInc.htm
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<P STYLE="text-align: center; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 10pt"><B>DNP SELECT INCOME FUND INC.<BR>
SCHEDULE OF INVESTMENTS<BR>
July 31, 2020<BR>
(Unaudited)</B></P>

<TABLE CELLSPACING="0" CELLPADDING="1" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; width: 16%; padding-left: 5.5; white-space: nowrap">&nbsp;Shares&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: left; width: 63%; padding-left: 5.5; white-space: nowrap">Description</TD>
    <TD STYLE="padding-right: 5.5; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; width: 21%; padding-left: 5.5; white-space: nowrap">&nbsp;Value&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-right: 5.5; font-weight: bold; padding-left: 5.5; white-space: nowrap">&nbsp;COMMON STOCKS &amp; MLP INTERESTS--115.3%&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; font-weight: bold; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; font-weight: bold; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; font-weight: bold; text-align: left; padding-left: 5.5; white-space: nowrap">ELECTRIC, GAS AND WATER--85.2%</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;1,751,790</TD>
    <TD STYLE="padding-right: 5.5; text-align: left; padding-left: 5.5; white-space: nowrap">Alliant Energy Corp.<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(a)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;&nbsp;$94,333,892</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;1,338,300</TD>
    <TD STYLE="padding-right: 5.5; text-align: left; padding-left: 5.5; white-space: nowrap">Ameren Corp.<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(a)(b)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;107,385,192</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;988,640</TD>
    <TD STYLE="padding-right: 5.5; text-align: left; padding-left: 5.5; white-space: nowrap">American Electric Power Co., Inc.<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(a)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;85,893,043</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;654,090</TD>
    <TD STYLE="padding-right: 5.5; text-align: left; padding-left: 5.5; white-space: nowrap">American Water Works Co.<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(a)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;96,327,834</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;732,000</TD>
    <TD STYLE="padding-right: 5.5; text-align: left; padding-left: 5.5; white-space: nowrap">Atmos Energy Corp.<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(a)(b)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;77,584,680</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;389,700</TD>
    <TD STYLE="padding-right: 5.5; text-align: left; padding-left: 5.5; white-space: nowrap">Black Hills Corp.</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;22,548,042</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;3,071,300</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">CenterPoint Energy, Inc.<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(a)(b)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;58,385,413</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;1,564,820</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">CMS Energy Corp.<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(a)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;100,430,148</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;1,147,000</TD>
    <TD STYLE="padding-right: 5.5; text-align: left; padding-left: 5.5; white-space: nowrap">Dominion Energy, Inc.<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(a)(b)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;92,941,410</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;795,550</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">DTE Energy Co.<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(a)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;91,989,446</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;1,000,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">Edison International<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(a)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;55,670,000</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;1,296,855</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">Emera Inc. (Canada)</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;53,975,115</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;842,110</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">Essential Utilites, Inc.</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;38,189,688</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;1,592,441</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">Evergy, Inc.<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(a)(b)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;103,237,950</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;1,228,500</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">Eversource Energy<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(a)(b)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;110,650,995</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;1,138,500</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">FirstEnergy Corp.</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;33,016,500</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;1,079,800</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">Fortis Inc. (Canada)</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;43,973,938</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;2,557,100</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">National Grid plc (United Kingdom)</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;30,219,159</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;1,081,600</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">New Jersey Resources Corp.</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;33,594,496</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;352,730</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">NextEra Energy, Inc.<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(a)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;99,011,311</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;1,010,250</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">Nextera Energy Partners, LP</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;62,837,550</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;2,655,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">NiSource Inc.<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(a)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;64,914,750</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;800,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">Northwest Natural Holding Co.</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;42,792,000</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;2,300,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">OGE Energy Corp.<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(a)(b)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;75,670,000</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;576,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">ONE Gas, Inc.</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;43,603,200</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;936,100</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">Pinnacle West Capital Corp.<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(a)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;77,771,188</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;1,716,600</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">Public Service Enterprise Group Inc.<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(a)(b)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;96,026,604</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;702,400</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">Sempra Energy<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(a)(b)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;87,420,704</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;1,500,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">South Jersey Industries, Inc.</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;34,995,000</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;1,668,800</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">Southern Co.<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(a)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;91,133,168</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;840,900</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">Spire Inc.</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;51,849,894</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;1,016,200</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">WEC Energy Group, Inc.<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(a)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;96,803,212</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;1,525,300</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">Xcel Energy Inc.<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(a)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;105,306,712</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;2,360,482,234</TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;</P>

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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4px solid"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; margin-top: 0; margin-bottom: 10pt">The accompanying note is an integral part of this financial statement.</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; margin-top: 0; margin-bottom: 10pt"><B>DNP SELECT INCOME FUND INC.<BR> SCHEDULE OF INVESTMENTS - (Continued)<BR> July 31, 2020<BR> (Unaudited)</B></P></DIV>
    <!-- Field: /Page -->

<TABLE CELLSPACING="0" CELLPADDING="1" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.5; font-weight: bold; text-align: left; padding-left: 5.5; white-space: nowrap">OIL &amp; GAS STORAGE, TRANSPORTATION AND PRODUCTION--12.8%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; width: 16%; padding-left: 5.5; white-space: nowrap">&nbsp;1,011,419</TD>
    <TD STYLE="padding-right: 5.5; width: 63%; padding-left: 5.5; white-space: nowrap">Antero Midstream Corp.</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; width: 21%; padding-left: 5.5; white-space: nowrap">$5,734,746</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;346,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">Cheniere Energy, Inc.*</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;17,120,080</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;195,941</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">Cheniere Energy Partners, LP</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;6,638,481</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;421,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">DCP Midstream LP</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;4,820,450</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;1,155,945</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">Enbridge Inc. (Canada)</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;36,990,240</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;2,954,062</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">Energy Transfer Equity LP</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;19,349,106</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;1,631,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">Enterprise Products Partners LP</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;28,705,600</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;600,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">Equitrans Midstream Corp.</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;5,790,000</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;475,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">Genesis Energy LP</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;3,168,250</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;515,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">Golar LNG Limited* (Bermuda)</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;3,862,500</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;325,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">Keyera Corp. (Canada)</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;4,939,903</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;1,660,026</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">Kinder Morgan, Inc.<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(a)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;23,406,367</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;427,090</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">Magellan Midstream Partners LP</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;17,292,874</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;185,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">Marathon Petroleum Corp.</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;7,067,000</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;1,006,852</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">MPLX LP</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;18,395,186</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;402,150</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">ONEOK, Inc.</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;11,224,007</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;986,600</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">Pembina Pipeline Corp. (Canada)</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;23,974,490</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;218,419</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">Phillips 66 Partners LP</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;6,072,048</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;1,943,900</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">Plains All American Pipeline, LP</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;14,851,396</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;610,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">Rattler Midstream LP</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;4,800,700</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;200,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">Shell Midstream Partners, LP</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;2,364,000</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;905,120</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">Targa Resources Corp.</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;16,545,594</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;856,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">TC Energy Corp. (Canada)<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(a)(b)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;39,033,600</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;402,020</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">Westlake Chemical Partners LP</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;7,686,622</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;1,273,500</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">The Williams Companies, Inc.</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;24,362,055</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;354,195,295</TD></TR>
</TABLE>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4px solid"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; margin-top: 0; margin-bottom: 10pt">The accompanying note is an integral part of this financial statement.</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; margin-top: 0; margin-bottom: 10pt"><B>DNP SELECT INCOME FUND INC.<BR> SCHEDULE OF INVESTMENTS - (Continued)<BR> July 31, 2020<BR> (Unaudited)</B></P></DIV>
    <!-- Field: /Page -->

<TABLE CELLSPACING="0" CELLPADDING="1" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; width: 16%; padding-left: 5.5; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; font-weight: bold; text-align: left; width: 63%; padding-left: 5.5; white-space: nowrap">TELECOMMUNICATIONS--17.3%</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; width: 21%; padding-left: 5.5; white-space: nowrap">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;289,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">American Tower Corp.</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;&nbsp;$75,541,710</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;2,290,700</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">AT&amp;T Inc.<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(a)(b)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;67,758,906</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;951,515</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">BCE Inc. (Canada)<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(a)(b)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;39,897,024</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;1,002,350</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">Comcast Corp. Class A</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;42,900,580</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;630,100</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">Crown Castle International Corp.<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(a)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;105,037,670</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;1,000,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">Orange SA (France)</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;11,720,939</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;2,560,600</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">Telus Corp. (Canada)</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;44,406,673</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;1,416,389</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">Verizon Communications Inc.<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(a)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;81,414,040</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;782,200</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">Vodafone Group Plc ADR (United Kingdom)</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;11,889,440</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;480,566,982</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">Total Common Stocks &amp; MLP Interests (Cost $2,498,841,857)</TD>
    <TD STYLE="padding-right: 5.5; border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; padding-left: 5.5; white-space: nowrap">&nbsp;3,195,244,511</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; font-weight: bold; padding-left: 5.5; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; font-weight: bold; text-align: center; padding-left: 5.5; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; font-weight: bold; text-align: center; padding-left: 5.5; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; font-weight: bold; text-align: center; padding-left: 5.5; white-space: nowrap">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; padding-left: 5.5; white-space: nowrap">Par Value</TD>
    <TD STYLE="padding-right: 5.5; font-weight: bold; text-align: center; padding-left: 5.5; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; font-weight: bold; text-align: center; padding-left: 5.5; white-space: nowrap">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; font-weight: bold; padding-left: 5.5; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; font-weight: bold; text-align: left; padding-left: 5.5; white-space: nowrap">BONDS--18.8%</TD>
    <TD STYLE="padding-right: 5.5; font-weight: bold; padding-left: 5.5; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; font-weight: bold; padding-left: 5.5; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; font-weight: bold; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; font-weight: bold; text-align: left; padding-left: 5.5; white-space: nowrap">ELECTRIC, GAS AND WATER--9.7%</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;$12,000,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">American Water Capital Corp.</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">3.40%, 3/01/25<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(a)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;13,455,461</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;22,000,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">Arizona Public Service Co.</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">6 7/8%, 8/01/36<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(a)(b)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;32,247,984</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;9,000,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">CMS Energy Corp.</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">5.05%, 3/15/22<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(a)(b)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;9,524,733</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;6,000,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">CMS Energy Corp.</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">3.45%, 8/15/27</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;6,804,369</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;5,000,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">Connecticut Light &amp; Power Co.</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; text-align: left; padding-left: 5.5; white-space: nowrap">3.20%, 3/15/27</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;5,657,815</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;10,000,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">DPL Capital Trust II</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">8 1/8%, 9/01/31</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;10,999,930</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;6,400,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">DTE Electric Co.</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">3.65%, 3/15/24</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;7,032,328</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;10,000,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">Duke Energy Corp.</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">3.15%, 8/15/2027</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;11,319,317</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;5,600,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">Edison International</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">4 1/8%, 3/15/28</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;6,042,860</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;9,500,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">Entergy Louisiana, LLC</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">5.40%, 11/01/24</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;11,275,736</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;5,000,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">Entergy Louisiana, LLC</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">4.44%, 1/15/26</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;5,780,001</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;4,000,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">Entergy Texas, Inc.</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">4.00%, 3/30/29</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;4,754,044</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;7,000,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">Eversource Energy</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">4 1/4%, 4/01/29</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;8,461,852</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;10,000,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">Florida Power &amp; Light Co.</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">3 1/4%, 6/01/24<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(a)(b)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;10,932,424</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;7,000,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">Indiana Michigan Power Co.</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5; white-space: nowrap">3.20%, 3/15/23</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5; white-space: nowrap">&nbsp;7,405,564</TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0pt">&nbsp;</P>


<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4px solid"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; margin-top: 0; margin-bottom: 10pt">The accompanying note is an integral part of this financial statement.</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; margin-top: 0; margin-bottom: 10pt"><B>DNP SELECT INCOME FUND INC.<BR> SCHEDULE OF INVESTMENTS - (Continued)<BR> July 31, 2020<BR> (Unaudited)</B></P></DIV>
    <!-- Field: /Page -->

<TABLE CELLSPACING="0" CELLPADDING="1" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; width: 16%; padding-left: 5.5">&nbsp;$11,000,000</TD>
    <TD STYLE="padding-right: 5.5; width: 63%; padding-left: 5.5">Interstate Power &amp; Light</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; width: 21%; padding-left: 5.5">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">3 1/4%, 12/01/24</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;$12,129,424</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;14,000,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">NiSource Finance Corp.</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">3.49%, 5/15/27</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;16,057,342</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;5,000,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">Ohio Power Co.</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">6.60%, 2/15/33</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;7,290,155</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;10,345,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">Oncor Electric Delivery Co. LLC</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">7.00%, 9/01/22<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(a)(b)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;11,738,103</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;5,000,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">Public Service Electric</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">3.00%, 5/15/25</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;5,544,959</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;10,000,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">Public Service Electric</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">3.00%, 5/15/27</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;11,209,135</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;5,000,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">Public Service New Mexico</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">3.85%, 8/01/25</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;5,517,624</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;9,000,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">Sempra Energy</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">3.55%, 6/15/24</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;9,869,825</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;11,300,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">Southern Power Co.</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">4.15%, 12/01/25</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;13,196,861</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;13,000,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">Virginia Electric &amp; Power Co.</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">3.15%, 1/15/26</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;14,684,822</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;8,000,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">Wisconsin Energy Corp.</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">3.55%, 6/15/25</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;8,978,670</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; padding-left: 5.5">&nbsp;267,911,338</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.5; font-weight: bold; text-align: left; padding-left: 5.5">OIL &amp; GAS STORAGE, TRANSPORTATION AND PRODUCTION--4.7%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;11,000,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">Enbridge Inc. (Canada)</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">4 1/4%, 12/01/26</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;12,725,308</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;6,488,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">Energy Transfer Partners</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">7.60%, 2/01/24</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;7,447,370</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;8,850,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">Energy Transfer Partners</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">8 1/4%, 11/15/29</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;11,269,015</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;6,000,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">Enterprise Products Operating LP</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; text-align: left; padding-left: 5.5">5.20%, 9/01/20</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;6,021,763</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;6,000,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">Enterprise Products Operating LP</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; text-align: left; padding-left: 5.5">3.35%, 3/15/23</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;6,380,346</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;6,000,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">Enterprise Products Operating LP</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; text-align: left; padding-left: 5.5">3.13%, 7/31/29</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;6,611,466</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;9,000,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">Magellan Midstream Partners, LP</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">5.00%, 3/1/26</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;10,512,449</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;11,000,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">ONEOK, Inc.</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">6.00%, 6/15/35</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;12,158,237</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;10,000,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">Phillips 66</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">3.90%, 3/15/28</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;11,435,797</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;5,000,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">Plains All American Pipeline, LP&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">4.65%, 10/15/25</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;5,394,385</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;12,210,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">TransCanada PipeLines Ltd. (Canada)</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">3 3/4%, 10/16/23</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;13,348,850</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;9,500,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">Valero Energy Partners LP</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">4 1/2%, 3/15/28</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;11,053,141</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;10,000,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">Williams Partners LP</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">3.60%, 3/15/22</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;10,415,431</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;5,000,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">Williams Partners LP</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">4.55%, 6/24/24</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;5,566,815</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; padding-left: 5.5">&nbsp;130,340,373</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD></TR>
</TABLE>

<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4px solid"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; margin-top: 0; margin-bottom: 10pt">The accompanying note is an integral part of this financial statement.</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; margin-top: 0; margin-bottom: 10pt"><B>DNP SELECT INCOME FUND INC.<BR> SCHEDULE OF INVESTMENTS - (Continued)<BR> July 31, 2020<BR> (Unaudited)</B></P></DIV>
    <!-- Field: /Page -->

<TABLE CELLSPACING="0" CELLPADDING="1" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; width: 16%; padding-left: 5.5">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; font-weight: bold; text-align: left; width: 63%; padding-left: 5.5">TELECOMMUNICATIONS--4.4%</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; width: 21%; padding-left: 5.5">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;$4,500,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">American Tower Corp.</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">5.00%, 2/15/24</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;$5,172,135</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;5,500,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">American Tower Corp.</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">3.00%, 6/15/23</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;5,881,860</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;5,000,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">AT&amp;T Inc.</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">4.45%, 4/01/24</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;5,638,222</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;7,000,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">AT&amp;T Inc.</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">3.55%, 6/01/24</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;7,748,887</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;15,000,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">CenturyLink Inc.</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">6 7/8%, 1/15/28</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;16,395,150</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;5,900,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">Comcast Corp.</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">7.05%, 3/15/33</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;9,295,730</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;10,190,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">Crown Castle International Corp.</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">4.45%, 2/15/26</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;11,934,861</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;15,000,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">Koninklijke KPN NV (Netherlands)</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">8 3/8%, 10/01/30<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(a)(b)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;22,276,779</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;5,000,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">TCI Communications Inc.</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">7 1/8%, 2/15/28</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;7,043,544</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;15,500,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">Verizon Global Funding Corp.</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">7 3/4%, 12/01/30</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;24,303,294</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;5,000,000</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">Vodafone Group Plc (United Kingdom)</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">7 7/8%, 2/15/30</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;7,363,476</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; padding-left: 5.5">&nbsp;123,053,938</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">Total Bonds (Cost $457,269,048)</TD>
    <TD STYLE="padding-right: 5.5; border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; padding-left: 5.5">&nbsp;521,305,649</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.5; font-weight: bold; padding-left: 5.5">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; padding-left: 5.5">&nbsp;</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-right: 5.5; font-weight: bold; padding-left: 5.5">TOTAL INVESTMENTS--134.1% (Cost $2,956,110,905)</TD>
    <TD STYLE="padding-right: 5.5; border-bottom: Black 0.5pt solid; text-align: right; padding-left: 5.5">&nbsp;$3,716,550,160</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-right: 5.5; padding-left: 5.5">Secured borrowings--(14.5)%</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;(400,000,000)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-right: 5.5; padding-left: 5.5">Secured notes--(10.8)%</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;(300,000,000)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-right: 5.5; padding-left: 5.5">Mandatory Redeemable Preferred Shares at liquidation value--(10.8)%</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;(300,000,000)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-right: 5.5; padding-left: 5.5">Other assets less other liabilities--2.0%</TD>
    <TD STYLE="padding-right: 5.5; text-align: right; padding-left: 5.5">&nbsp;55,484,736</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-right: 5.5; font-weight: bold; padding-left: 5.5">NET ASSETS APPLICABLE TO COMMON STOCK--100.0%</TD>
    <TD STYLE="padding-right: 5.5; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; padding-left: 5.5">&nbsp;$2,772,034,896</TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0pt">&nbsp;</P>

<!-- Field: Page; Sequence: 5 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4px solid"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; margin-top: 0; margin-bottom: 10pt">The accompanying note is an integral part of this financial statement.</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; margin-top: 0; margin-bottom: 10pt"><B>DNP SELECT INCOME FUND INC.<BR> SCHEDULE OF INVESTMENTS - (Continued)<BR> July 31, 2020<BR> (Unaudited)</B></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt">(a) All or a portion of this security has been pledged as collateral for borrowings and made available for loan.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: right; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt">(b) All or a portion of this security has been loaned.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt">(c) Rate shown represents yield-to-maturity.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;* Non-income producing.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt">The percentage shown for each investment
category is the total value of that category as a percentage of the net assets applicable to common stock of the Fund.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt">Note 1. Investment Valuation</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt">The Fund's investments are carried at
fair value which is defined as the price that the Fund might reasonably expect to receive upon selling an investment in a
timely transaction to an independent buyer in the principal or most advantageous market of the investment.&nbsp;The
three-tier hierarchy of inputs established to classify fair value measurements for disclosure purposes is summarized in the
three broad levels listed below.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt">Level 1 - quoted prices in active markets for identical securities</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt">Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates,</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt">prepayment speeds, credit risks, etc.)</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt">Level 3 - significant unobservable inputs (including the Fund's own assumptions in determining fair value of</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt">investments)</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt">The inputs or methodology used for valuing
securities are not necessarily an indication of the risk associated with investing in these securities.&nbsp;For more information
about the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's
most recent financial statements contained in its semi-annual report.&nbsp;The following is a summary of the inputs used
to value each of the Fund's investments at July 31, 2020: &nbsp; &nbsp;</P>



<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 53%">&nbsp;</TD>
    <TD STYLE="padding-left: 5.4; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; width: 18%">&nbsp;Level 1&nbsp;</TD>
    <TD STYLE="padding-left: 5.4; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; width: 15%">&nbsp;Level 2&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2">Common stocks &amp; MLP interests</TD>
    <TD STYLE="text-align: right">$3,195,244,511</TD>
    <TD STYLE="text-align: right">&nbsp;-</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>Bonds</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;-</TD>
    <TD STYLE="text-align: right">$521,305,649</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;Total</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">$3,195,244,511</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">$521,305,649</TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 5.4pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt">There were no Level 3 priced securities held and there were no transfers into or out of Level 3.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt">Other information regarding the Fund
is available on the Fund's website at www.dpimc.com/dnp or the Securities and Exchange Commission's website at www.sec.gov.
&nbsp;</P>



<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

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