A new LLC series resonant converter that has a narrow switching frequency variation and reduced conduction losses is proposed in this paper. In the proposed converter, one leg of the full-bridge diode rectifier is replaced with synchronous rectifier (SR) switches. In the nominal state, the proposed converter is controlled using frequency modulation, and the SR switches are controlled using in-phase switching signals with primary side switches in order that the proposed converter can obtain a reduced conduction loss in its secondary side rectifiers. During the hold-up time which is the condition where the input voltage of the converter decreases, the SR switches are controlled using phase-shifted switching signals in order that the proposed converter can obtain a higher gain without decreasing the switching frequency. Because the proposed converter operates with a narrow switching frequency variation, a small transformer core can be selected, which results in a decreased core size and loss. Furthermore, it is possible for the proposed converter to be designed optimally in the nominal state and this results in the proposed converter exhibiting a maximized efficiency over the entire load condition. The feasibility of the proposed converter is verified with a 400-250 V input and 200 V/1.5 A output prototype.