An improved power factor DC power supply in accordance with the present invention (100 or 200) employs a power factor correcting network (120), a full-wave rectifier means (122), a pair of filter capacitors (124 and 126), and three current steering diodes (128, 130 and 132). The power factor correcting network (120) includes both an inductor means (136 and 240) and a capacitor (138), the combination configured to improve the power factor DC power supply (100 or 200) presents to the AC power-line (102) by reducing the level of harmonic currents the DC power supply generates on the AC power-line. The filter capacitors (124 and 126) are configured with the current steering diodes (128, 130 and 132) such that the filter capacitors are charged in series and discharged in parallel. In addition, the filter capacitors (124 and 126) and the current steering diodes (128, 130 and 132) are configured such that during the periods when the level of the voltage being developed across the load (104) exceeds one-half the peak level, the improved power factor DC power supply (100 or 200) functions as though the filter capacitors were not in the circuit.