# EDGAR Filing Document

**Accession Number:** 0000702340
**File Stem:** 0000940400-25-009787
**Filing Date:** 2025-11
**Character Count:** 14065
**Document Hash:** 42d5b67a808b657f90181492dda62578
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-009787.hdr.sgml**: 20251124

**ACCESSION NUMBER**: 0000940400-25-009787

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251124

**DATE AS OF CHANGE**: 20251124

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PENN SERIES FUNDS INC
- **CENTRAL INDEX KEY:** 0000702340

**ORGANIZATION NAME:**
- **EIN:** 232209178
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-03459
- **FILM NUMBER:** 251513145

**BUSINESS ADDRESS:**
- **STREET 1:** 600 DRESHER RD
- **STREET 2:** C3D
- **CITY:** HORSHAM
- **STATE:** PA
- **ZIP:** 19044
- **BUSINESS PHONE:** (215) 956-8835

**MAIL ADDRESS:**
- **STREET 1:** 600 DRESHER ROAD
- **STREET 2:** C3D
- **CITY:** HORSHAM
- **STATE:** PA
- **ZIP:** 19044

## Series and Classes Contracts Data

### Moderately Aggressive Allocation Fund (Series ID: S000022088)

| Class ID   | Class Name                            | Ticker Symbol   |
|:---|:---|:---|
| C000063379 | Moderately Aggressive Allocation Fund |  |

## Nport-Ex

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

#### Schedule of Investments — September 30, 2025 (Unaudited)<br>

#### Moderately Aggressive Allocation Fund<br>

---

| | | |
|:---|:---|:---|
|  | **Number of<br> Shares** | &nbsp;&nbsp;**Value†** |
| **AFFILIATED EQUITY FUNDS — 69.9%** | **AFFILIATED EQUITY FUNDS — 69.9%** | **AFFILIATED EQUITY FUNDS — 69.9%** |
| Penn Series Flexibly Managed Fund\* | &nbsp;&nbsp;&nbsp;&nbsp;148121 | &nbsp;&nbsp;&nbsp;&nbsp;$17496083 |
| Penn Series Index 500 Fund\* | &nbsp;&nbsp;&nbsp;&nbsp;769442 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46820517 |
| Penn Series Large Cap Growth Fund\* | &nbsp;&nbsp;&nbsp;&nbsp;40262 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1951499 |
| Penn Series Large Cap Value Fund\* | &nbsp;&nbsp;&nbsp;&nbsp;212603 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11648517 |
| Penn Series Large Core Growth Fund\* | &nbsp;&nbsp;&nbsp;&nbsp;144917 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5830011 |
| Penn Series Large Core Value Fund\* | &nbsp;&nbsp;&nbsp;&nbsp;215638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7808264 |
| Penn Series Large Growth Stock Fund\* | &nbsp;&nbsp;&nbsp;&nbsp;70906 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7762815 |
| Penn Series Mid Cap Growth Fund\* | &nbsp;&nbsp;&nbsp;&nbsp;93089 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3784979 |
| Penn Series Mid Cap Value Fund\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55923 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1928776 |
| Penn Series Mid Core Value Fund\* | &nbsp;&nbsp;&nbsp;&nbsp;235404 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9750426 |
| Penn Series Real Estate Securities Fund\* | &nbsp;&nbsp;&nbsp;&nbsp;277358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9693654 |
| Penn Series Small Cap Index Fund\* | &nbsp;&nbsp;&nbsp;&nbsp;152649 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5866309 |
| Penn Series SMID Cap Growth Fund\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37537 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1906121 |
| Penn Series SMID Cap Value Fund\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90073 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3843426 |
| **TOTAL AFFILIATED EQUITY FUNDS<br> (Cost $92,938,519)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**136091397** |
| **AFFILIATED FIXED INCOME FUNDS — 16.8%** | **AFFILIATED FIXED INCOME FUNDS — 16.8%** | **AFFILIATED FIXED INCOME FUNDS — 16.8%** |
| Penn Series Limited Maturity Bond Fund\* | &nbsp;&nbsp;&nbsp;&nbsp;255037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3858700 |
| Penn Series Quality Bond Fund\* | 1666080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28806531 |
| **TOTAL AFFILIATED FIXED INCOME FUNDS<br> (Cost $29,790,147)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**32665231** |
| **AFFILIATED INTERNATIONAL EQUITY FUNDS — 12.8%** | **AFFILIATED INTERNATIONAL EQUITY FUNDS — 12.8%** | **AFFILIATED INTERNATIONAL EQUITY FUNDS — 12.8%** |
| Penn Series Developed International Index Fund\* | &nbsp;&nbsp;&nbsp;&nbsp;429311 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9650901 |
| Penn Series Emerging Markets Equity Fund\* | &nbsp;&nbsp;&nbsp;&nbsp;149569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1942903 |
| Penn Series International Equity Fund\* | &nbsp;&nbsp;&nbsp;288509 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13392610 |
| **TOTAL AFFILIATED INTERNATIONAL EQUITY FUNDS<br> (Cost $19,123,338)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**24986414** |
| **TOTAL INVESTMENTS — 99.5%<br> (Cost $141,852,004)** |  | &nbsp;&nbsp;**$193743042** |
| **Other Assets & Liabilities — 0.5%** | **Other Assets & Liabilities — 0.5%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1032695** |
| **TOTAL NET ASSETS — 100.0%** |  | &nbsp;&nbsp;**$194775737** |

---

------

† See Security Valuation Note in the most recent semi-annual or annual report. <br> \* Non-income producing security.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Penn Series Funds Inc

- **b. Investment Company Act file number:** 811-03459

- **c. CIK number of Registrant:** 0000702340

- **d. LEI of Registrant:** 549300GLJSCMRCVZWX45

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

  - **Street Address 1:** Eight Tower Bridge

  - **City:** Conshohocken

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 19428

  - **Telephone number:** 215-956-8114

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

- **a. Name of Series:** Penn Series Moderately Aggressive Allocation Fund

- **b. EDGAR series identifier (if any):** S000022088

- **c. LEI of Series:** 549300ZHYPEVYWYMOQ42

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-09-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $195149083.08

**Total Liabilities:** $384984.51

**Net Assets:** $194764098.57

**Cash Not Reported:** $1248000.00

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000063379 | 0.53%                | 1.92%                | 1.74%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1096580.72              | $-61070.54                                 |
| Month 2  | $833194.59               | $2902396.73                                |
| Month 3  | $2750715.04              | $681791.76                                 |

### Schedule of Portfolio Investments

| Name                                  | Title                                 | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| LARGE CORE VALUE FUND                 | LARGE CORE VALUE FUND                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | RF                | US        |    215813 | NS      | $7814578.01   | 4.01%             |  |  |  | No            |                  1 | On Loan: No      |
| SMID CAP GROWTH FUND                  | SMID CAP GROWTH FUND                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | RF                | US        |     37568 | NS      | $1907699.49   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| MID CORE VALUE FUND                   | MID CORE VALUE FUND                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | RF                | US        |    235594 | NS      | $9758317.56   | 5.01%             |  |  |  | No            |                  1 | On Loan: No      |
| MID CAP GROWTH FUND                   | MID CAP GROWTH FUND                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | RF                | US        |     93166 | NS      | $3788135.74   | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| MID CAP VALUE FUND                    | MID CAP VALUE FUND                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | RF                | US        |     55969 | NS      | $1930354.50   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Penn Series Large Cap Value Fund      | Penn Series Large Cap Value Fund      | CUSIP: 000000000<br>LEI: T4ZMVT2X0OKJVCEE0P88 | Long             | EC               | RF                | US        |    212776 | NS      | $11657987.78  | 5.99%             |  |  |  | No            |                  1 | On Loan: No      |
| REIT FUND                             | REIT FUND                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | RF                | US        |    277584 | NS      | $9701546.16   | 4.98%             |  |  |  | No            |                  1 | On Loan: No      |
| SMID CAP VALUE FUND                   | SMID CAP VALUE FUND                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | RF                | US        |     90147 | NS      | $3846582.52   | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| FLEXIBLY MANAGED FUND                 | FLEXIBLY MANAGED FUND                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | RF                | US        |    148242 | NS      | $17510288.58  | 8.99%             |  |  |  | No            |                  1 | On Loan: No      |
| LARGE GROWTH STOCK                    | LARGE GROWTH STOCK                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | RF                | US        |     70964 | NS      | $7769128.65   | 3.99%             |  |  |  | No            |                  1 | On Loan: No      |
| EMERGING MARKETS EQUITY FUND          | EMERGING MARKETS EQUITY FUND          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | RF                | US        |    149691 | NS      | $1944481.41   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| LIMITED MATURITY BOND FUND            | LIMITED MATURITY BOND FUND            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | RF                | US        |    255245 | NS      | $3861857.09   | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| LARGE CAP GROWTH FUND                 | LARGE CAP GROWTH FUND                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | RF                | US        |     40295 | NS      | $1953076.89   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| LARGE CORE GROWTH FUND                | LARGE CORE GROWTH FUND                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | RF                | US        |    145035 | NS      | $5834745.74   | 3.00%             |  |  |  | No            |                  1 | On Loan: No      |
| DEVELOPED INTERNATIONAL INDEX         | DEVELOPED INTERNATIONAL INDEX         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | RF                | US        |    429662 | NS      | $9658792.86   | 4.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Penn Series International Equity Fund | Penn Series International Equity Fund | CUSIP: 000000000<br>LEI: 1M74GDLH06HJWJRYBR07 | Long             | EC               | RF                | US        |    288747 | NS      | $13403658.35  | 6.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Penn Series Quality Bond Fund         | Penn Series Quality Bond Fund         | CUSIP: 000000000<br>LEI: 6EJYQY10X26QDQ79NP61 | Long             | EC               | RF                | US        |   1667450 | NS      | $28830206.85  | 14.80%            |  |  |  | No            |                  1 | On Loan: No      |
| INDEX 500 FUND                        | INDEX 500 FUND                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | RF                | US        |    770064 | NS      | $46858398.17  | 24.06%            |  |  |  | No            |                  1 | On Loan: No      |
| SMALL CAP INDEX FUND                  | SMALL CAP INDEX FUND                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | RF                | US        |    152772 | NS      | $5871044.48   | 3.01%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

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

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

**Signature:** Steven Viola

**Name of Signer:** Steven Viola

**Title:** Treasurer