# EDGAR Filing Document

**Accession Number:** 0000702340
**File Stem:** 0000940400-25-009802
**Filing Date:** 2025-11
**Character Count:** 38807
**Document Hash:** 9d4b9a7cdf0ef8f421dee8b18d020ec6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-009802.hdr.sgml**: 20251124

**ACCESSION NUMBER**: 0000940400-25-009802

**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:** 251513164

**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

### Limited Maturity Bond Fund (Series ID: S000006723)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000018286 | Limited Maturity Bond Fund |  |

## Nport-Ex

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

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

#### Limited Maturity Bond Fund<br>

---

| | | |
|:---|:---|:---|
|  | **Par<br> (000)** | &nbsp;&nbsp;**Value†** |
| **ASSET BACKED SECURITIES — 29.8%** | **ASSET BACKED SECURITIES — 29.8%** | **ASSET BACKED SECURITIES — 29.8%** |
| Domino's Pizza Master Issuer LLC, Series 2021-1A Class A2I, 144A<br> 2.662%, 04/25/51@ | &nbsp;&nbsp;&nbsp;$972 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$919509 |
| ECMC Group Student Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;Series 2018-2A Class A (30 Day Average SOFR + 0.914%, Floor 0.800%), 144A<br> 5.271%, 09/25/68@,• | &nbsp;&nbsp;&nbsp;&nbsp;2114 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2102386 |
| &nbsp;&nbsp;&nbsp;Series 2019-1A Class A1A, 144A<br> 2.720%, 07/25/69@ | &nbsp;&nbsp;&nbsp;&nbsp;1015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;907960 |
| First Eagle BSL CLO Ltd., Series 2019-1A Class B (3 M SOFR + 3.512%, Floor 3.250%), 144A<br> 7.837%, 01/20/33@,• | &nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1504046 |
| Flexential Issuer, Series 2021-1A Class A2, 144A<br> 3.250%, 11/27/51@ | &nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1456192 |
| Navient Private Education Refi Loan Trust, Series 2020-EA Class A, 144A<br> 1.690%, 05/15/69@ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;855628 |
| Nelnet Student Loan Trust, Series 2004-4 Class B (90 Day Average SOFR + 0.562%),<br> 4.902%, 01/25/41• | &nbsp;&nbsp;&nbsp;2285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2249621 |
| SLM Student Loan Trust, Series 2014-2 Class A3 (30 Day Average SOFR + 0.704%),<br> 5.061%, 03/25/55• | &nbsp;&nbsp;&nbsp;2602 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2579996 |
| SMB Private Education Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;Series 2017-A Class B, 144A<br> 3.500%, 06/17/41@ | &nbsp;&nbsp;&nbsp;&nbsp;1763 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1745803 |
| &nbsp;&nbsp;&nbsp;Series 2014-A Class B, 144A<br> 4.000%, 09/15/42@ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;824540 |
| &nbsp;&nbsp;&nbsp;Series 2015-A Class C, 144A<br> 4.500%, 10/15/48@ | &nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;993795 |
| &nbsp;&nbsp;&nbsp;Series 2021-C Class B, 144A<br> 2.300%, 01/15/53@ | &nbsp;&nbsp;&nbsp;1562 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1525227 |
| &nbsp;&nbsp;&nbsp;Series 2020-PTB Class A2A, 144A<br> 1.600%, 09/15/54@ | &nbsp;&nbsp;&nbsp;&nbsp;1714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1622579 |
| TRINITAS CLO IV Ltd., Series 2016-4A Class A2L2 (3 M SOFR + 1.662%, Floor 1.400%), 144A<br> 5.991%, 10/18/31@,• | &nbsp;&nbsp;&nbsp;1550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1550541 |
| **TOTAL ASSET BACKED SECURITIES<br> (Cost $20,976,839)** | **TOTAL ASSET BACKED SECURITIES<br> (Cost $20,976,839)** | &nbsp;&nbsp;&nbsp;**20837823** |
| **COMMERCIAL MORTGAGE BACKED SECURITIES — 6.7%** | **COMMERCIAL MORTGAGE BACKED SECURITIES — 6.7%** | **COMMERCIAL MORTGAGE BACKED SECURITIES — 6.7%** |
| BSPRT Issuer Ltd., Series 2021-FL6 Class B (1 M SOFR + 1.714%, Floor 1.600%), 144A<br> 5.865%, 03/15/36@,• | &nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2497009 |
| FREMF Mortgage Trust, Series 2018-K82 Class C, 144A<br> 4.270%, 09/25/28@,• | &nbsp;&nbsp;&nbsp;&nbsp;1224 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1205589 |

---

---

| | | |
|:---|:---|:---|
|  | **Par<br> (000)** | &nbsp;&nbsp;**Value†** |
| SWCH Commercial Mortgage Trust, Series 2025-DATA Class A (1 M SOFR + 1.443%, Floor 1.443%), 144A<br> 5.593%, 02/15/42@,• | $1000 | &nbsp;&nbsp;&nbsp;&nbsp;$994687 |
| **TOTAL COMMERCIAL MORTGAGE BACKED SECURITIES<br> (Cost $4,701,175)** | **TOTAL COMMERCIAL MORTGAGE BACKED SECURITIES<br> (Cost $4,701,175)** | &nbsp;&nbsp;&nbsp;**4697285** |
| **CORPORATE BONDS — 32.2%** | **CORPORATE BONDS — 32.2%** | **CORPORATE BONDS — 32.2%** |
| **Airlines — 2.8%** | **Airlines — 2.8%** | **Airlines — 2.8%** |
| Delta Air Lines, Inc./SkyMiles IP Ltd., 144A<br> 4.750%, 10/20/28@ | &nbsp;&nbsp;&nbsp;1074 | &nbsp;&nbsp;&nbsp;&nbsp;1080084 |
| United Airlines Pass Through Trust, Series 2020-1 Class B<br> 4.875%, 07/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;839 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;839474 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1919558 |
| **Auto Manufacturers — 1.4%** | **Auto Manufacturers — 1.4%** | **Auto Manufacturers — 1.4%** |
| Ford Motor Credit Co. LLC<br> 5.125%, 11/05/26 | &nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;1003400 |
| **Banks — 5.7%** | **Banks — 5.7%** | **Banks — 5.7%** |
| First Maryland Capital II (3 M SOFR + 1.112%)<br> 5.408%, 02/01/27• | &nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1481467 |
| State Street Corp. (3 M SOFR + 0.822%)<br> 5.033%, 05/15/28• | &nbsp;&nbsp;&nbsp;1305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1276461 |
| Wells Fargo & Co. (3 M SOFR + 1.262%)<br> 5.579%, 04/15/27• | &nbsp;&nbsp;&nbsp;1250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1240742 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;3998670 |
| **Chemicals — 1.4%** | **Chemicals — 1.4%** | **Chemicals — 1.4%** |
| W.R. Grace Holdings LLC, 144A<br> 4.875%, 06/15/27@ | &nbsp;&nbsp;&nbsp;&nbsp;992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;985687 |
| **Electronics — 2.2%** | **Electronics — 2.2%** | **Electronics — 2.2%** |
| Amphenol Corp.<br> 4.750%, 03/30/26 | &nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1504077 |
| **Hand & Machine Tools — 2.7%** | **Hand & Machine Tools — 2.7%** | **Hand & Machine Tools — 2.7%** |
| Regal Rexnord Corp.<br> 6.050%, 02/15/26 | &nbsp;&nbsp;&nbsp;1875 | &nbsp;&nbsp;&nbsp;&nbsp;1884096 |
| **Lodging — 1.1%** | **Lodging — 1.1%** | **Lodging — 1.1%** |
| Las Vegas Sands Corp.<br> 5.625%, 06/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;766836 |
| **Media — 2.1%** | **Media — 2.1%** | **Media — 2.1%** |
| CCO Holdings LLC/CCO Holdings Capital Corp., 144A<br> 5.125%, 05/01/27@ | &nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1489337 |
| **Oil & Gas — 2.9%** | **Oil & Gas — 2.9%** | **Oil & Gas — 2.9%** |
| Helmerich & Payne, Inc.<br> 4.650%, 12/01/27 | &nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1004501 |

---

------

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

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

#### Limited Maturity Bond Fund<br>

---

| | | |
|:---|:---|:---|
|  | **Par<br> (000)** | &nbsp;&nbsp;**Value†** |
| **CORPORATE BONDS — (continued)** | **CORPORATE BONDS — (continued)** | **CORPORATE BONDS — (continued)** |
| **Oil & Gas — (continued)** | **Oil & Gas — (continued)** | **Oil & Gas — (continued)** |
| Repsol E&P Capital Markets US LLC, 144A<br> 4.805%, 09/16/28@ | $1000 | &nbsp;&nbsp;&nbsp;&nbsp;$1004397 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2008898 |
| **Packaging and Containers — 1.4%** | **Packaging and Containers — 1.4%** | **Packaging and Containers — 1.4%** |
| Mauser Packaging Solutions Holding Co., 144A<br> 7.875%, 08/15/26@ | &nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;994140 |
| **Pipelines — 1.4%** | **Pipelines — 1.4%** | **Pipelines — 1.4%** |
| Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp., 144A<br> 6.000%, 03/01/27@ | &nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;999817 |
| **Real Estate Investment Trusts — 3.6%** | **Real Estate Investment Trusts — 3.6%** | **Real Estate Investment Trusts — 3.6%** |
| SBA Tower Trust, 144A<br> 1.884%, 07/15/50@ | &nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2481049 |
| **Software — 3.5%** | **Software — 3.5%** | **Software — 3.5%** |
| Concentrix Corp.<br> 6.650%, 08/02/26 | &nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1015046 |
| Open Text Corp., 144A<br> 3.875%, 02/15/28@ | &nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1459234 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2474280 |
| **TOTAL CORPORATE BONDS<br> (Cost $22,359,315)** |  | &nbsp;&nbsp;&nbsp;&nbsp;**22509845** |
| **RESIDENTIAL MORTGAGE BACKED SECURITIES — 29.1%** | **RESIDENTIAL MORTGAGE BACKED SECURITIES — 29.1%** | **RESIDENTIAL MORTGAGE BACKED SECURITIES — 29.1%** |
| **Collateralized Mortgage Obligations — 27.1%** | **Collateralized Mortgage Obligations — 27.1%** | **Collateralized Mortgage Obligations — 27.1%** |
| Angel Oak Mortgage Trust, Series 2020-1 Class A3, 144A<br> 2.774%, 12/25/59@,• | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;272 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;266391 |
| Bunker Hill Loan Depositary Trust, Series 2019-2 Class A3, 144A<br> 3.185%, 07/25/49@,(1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;681 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;665867 |
| Citigroup Mortgage Loan Trust, Series 2014-J1 Class A1, 144A<br> 3.500%, 06/25/44@,• | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;472 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;444254 |
| Flagstar Mortgage Trust, Series 2020-2 Class A4, 144A<br> 3.000%, 08/25/50@,• | &nbsp;&nbsp;&nbsp;1090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;934982 |
| GS Mortgage-Backed Securities Trust, Series 2021-PJ7 Class A8, 144A<br> 2.500%, 01/25/52@,• | &nbsp;&nbsp;&nbsp;&nbsp;3371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3010726 |
| JP Morgan Mortgage Trust, Series 2019-9 Class A3, 144A<br> 3.500%, 05/25/50@,• | &nbsp;&nbsp;&nbsp;&nbsp;984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;884738 |
| OBX Trust, |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-INV2 Class A5, 144A<br> 4.000%, 05/27/49@,• | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173473 |
| &nbsp;&nbsp;&nbsp;Series 2023-NQM8 Class A1, 144A<br> 7.045%, 09/25/63@,(1) | &nbsp;&nbsp;&nbsp;1926 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1954240 |
| PRKCM Trust, Series 2023-AFC3 Class A2, 144A<br> 6.987%, 09/25/58@,(1) | &nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1009955 |

---

---

| | | |
|:---|:---|:---|
|  | **Par<br> (000)** | &nbsp;&nbsp;**Value†** |
| **Collateralized Mortgage Obligations — (continued)** | **Collateralized Mortgage Obligations — (continued)** | **Collateralized Mortgage Obligations — (continued)** |
| Sequoia Mortgage Trust, Series 2021-5 Class A5, 144A<br> 2.000%, 07/25/51@,• | $1904 | &nbsp;&nbsp;$1668393 |
| Towd Point Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;Series 2017-4 Class A1, 144A<br> 2.750%, 06/25/57@,• | &nbsp;&nbsp;&nbsp;&nbsp;1481 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1450819 |
| &nbsp;&nbsp;&nbsp;Series 2020-4 Class A2, 144A<br> 2.500%, 10/25/60@ | &nbsp;&nbsp;&nbsp;2240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1842416 |
| Verus Securitization Trust, Series 2023-8 Class A2, 144A<br> 6.664%, 12/25/68@,(1) | &nbsp;&nbsp;&nbsp;&nbsp;1014 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1025949 |
| Vista Point Securitization Trust, Series 2020-1 Class M1, 144A<br> 4.151%, 03/25/65@,• | &nbsp;&nbsp;&nbsp;2800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2775368 |
| Wells Fargo Mortgage Backed Securities Trust, Series 2020-2 Class A1, 144A<br> 3.000%, 12/25/49@,• | &nbsp;&nbsp;&nbsp;&nbsp;980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;847585 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;18955156 |
| **Fannie Mae REMICS — 2.0%** | **Fannie Mae REMICS — 2.0%** | **Fannie Mae REMICS — 2.0%** |
| Series 2012-152 Class TA<br> 2.500%, 09/25/42 | &nbsp;&nbsp;&nbsp;1506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1380160 |
| **TOTAL RESIDENTIAL MORTGAGE BACKED SECURITIES<br> (Cost $22,141,004)** |  | &nbsp;&nbsp;&nbsp;&nbsp;**20335316** |

---

---

| |
|:---|
| **Number of<br> Shares** |
| **SHORT-TERM INVESTMENTS — 1.2%** |

---

---

| | | |
|:---|:---|:---|
| BlackRock Liquidity FedFund - Institutional Shares (seven-day effective yield 4.027%)<br> **(Cost $843,504)** | 843504 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**843504** |
| **TOTAL INVESTMENTS — 99.0%<br> (Cost $71,021,837)** |  | &nbsp;&nbsp;**$69223773** |
| **Other Assets & Liabilities — 1.0%** | **Other Assets & Liabilities — 1.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**665312** |
| **TOTAL NET ASSETS — 100.0%** |  | &nbsp;&nbsp;**$69889085** |

---

------

---

| | |
|:---|:---|
| † | See Security Valuation Note in the most recent semi-annual or annual report. |
| @ | Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. At September 30, 2025, the aggregate value of Rule 144A securities was $50,154,392, which represents 71.8% of the Fund's net assets. |

---

------

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

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

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

(1) Debt obligation initially issued at one coupon which converts to a higher coupon at a speciﬁc date. The rate shown is the rate at September 30, 2025.

---

| |
|:---|
| CLO— Collateralized Loan Obligation. |
| FREMF— Freddie Mac Multifamily Securities. |
| LLC— Limited Liability Company. |
| LP— Limited Partnership. |
| M— Month. |
| REMICS— Real Estate Mortgage Investment Conduits. |
| SOFR— Secured Overnight Financing Rate. |

---

---

| | |
|:---|:---|
| **Country Weightings as of 9/30/2025††** | **Country Weightings as of 9/30/2025††** |
| United States | &nbsp;&nbsp;&nbsp;90% |
| Cayman Islands | &nbsp;&nbsp;&nbsp;&nbsp;8 |
| Canada | &nbsp;&nbsp;&nbsp;&nbsp;2 |
| Total | 100% |

---

---

| | |
|:---|:---|
| †† | % of total investments as of September 30, 2025. |

---

## 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 Limited Maturity Bond Fund

- **b. EDGAR series identifier (if any):** S000006723

- **c. LEI of Series:** 4PEJU9I40YGN3EB70B53

**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:** $69594148.67

**Total Liabilities:** $106169.87

**Net Assets:** $69487978.80

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 151.85185000 | **1-Year:** 5126.36628000 | **5-Year:** 9218.64869000 | **10-Year:** 4579.64579000 | **30-Year:** 0.00000000

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

- **3-Month:** 103.60023000 | **1-Year:** 584.94426000 | **5-Year:** 807.13081000 | **10-Year:** 134.17424000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000018286 | 0.20%                | 0.87%                | 0.47%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $28203.30                | $-127866.76                                |
| Month 2  | $16877.62                | $357088.89                                 |
| Month 3  | $6041.96                 | $61289.86                                  |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CONCENTRIX CORP                | Concentrix Corp                                              | CUSIP: 20602DAA9<br>LEI: 5493000EAJN1KMPVA737 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1015046.12   | 1.46%             | 2026-08-02      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| STATE STREET CORP              | State Street Corp                                            | CUSIP: 857477AX1<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |   1305000 | PA      | $1276460.50   | 1.84%             | 2028-05-15      | Floating      | 5.03%                 | No            |                  2 | On Loan: No      |
| MAUSER PACKAGING SOLUT         | Mauser Packaging Solutions Holding Co                        | CUSIP: 57763RAB3<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $994140.50    | 1.43%             | 2026-08-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust      | Towd Point Mortgage Trust 2017-4                             | CUSIP: 89173UAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1480909 | PA      | $1450819.26   | 2.09%             | 2057-06-25      | Variable      | 2.75%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY          | Wells Fargo & Co                                             | CUSIP: 949746TF8<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1240741.81   | 1.79%             | 2027-04-15      | Floating      | 5.58%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust       | Angel Oak Mortgage Trust 2020-1                              | CUSIP: 03464RAC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    272535 | PA      | $266391.29    | 0.38%             | 2059-12-25      | Variable      | 2.77%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae REMICS                                            | CUSIP: 3136AA6N0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1505810 | PA      | $1380159.73   | 1.99%             | 2042-09-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| OPEN TEXT CORP                 | Open Text Corp                                               | CUSIP: 683715AC0<br>LEI: 549300HP7ONDQODZJV16 | Long             | DBT              | CORP              | CA        |   1500000 | PA      | $1459233.60   | 2.10%             | 2028-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| AMPHENOL CORP                  | Amphenol Corp                                                | CUSIP: 032095AM3<br>LEI: 549300D3L3G0R4U4VT04 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1504077.15   | 2.16%             | 2026-03-30      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Flagstar Mortgage Trust        | Flagstar Mortgage Trust 2020-2                               | CUSIP: 33851KAG1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1090019 | PA      | $934981.53    | 1.35%             | 2050-08-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| DELTA AIR LINES/SKYMILES       | Delta Air Lines Inc / SkyMiles IP Ltd                        | CUSIP: 830867AB3<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   1074000 | PA      | $1080083.73   | 1.55%             | 2028-10-20      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Trinitas CLO Ltd               | TRINITAS CLO IV LTD                                          | CUSIP: 89640XBM7<br>LEI: 635400UFTIJ9NEWTCB16 | Long             | ABS-CBDO         | CORP              | KY        |   1550000 | PA      | $1550540.95   | 2.23%             | 2031-10-18      | Floating      | 5.99%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC       | OBX 2023-NQM8 Trust                                          | CUSIP: 67118CAA9<br>LEI: 254900L7QTAO1E3CDI14 | Long             | ABS-MBS          | CORP              | US        |   1926224 | PA      | $1954240.06   | 2.81%             | 2063-09-25      | Variable      | 7.04%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Tru | SMB Private Education Loan Trust 2015-A                      | CUSIP: 78448PAF7<br>LEI: 549300GMVSOGAWY1JE39 | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $993794.90    | 1.43%             | 2048-10-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ECMC Group Student Loan Trust  | ECMC Group Student Loan Trust 2018-2                         | CUSIP: 26829GAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2113584 | PA      | $2102386.49   | 3.03%             | 2068-09-25      | Floating      | 5.27%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust  | Citigroup Mortgage Loan Trust 2014-J1                        | CUSIP: 17322NAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    472476 | PA      | $444254.06    | 0.64%             | 2044-06-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| FIRST MARYLAND CAPTL II        | First Maryland Capital II                                    | CUSIP: 32082CAC1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1481467.23   | 2.13%             | 2027-02-01      | Floating      | 5.41%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Tru | SMB Private Education Loan Trust 2021-C                      | CUSIP: 83208AAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1562048 | PA      | $1525227.24   | 2.19%             | 2053-01-15      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| HELMERICH & PAYNE INC          | Helmerich & Payne Inc                                        | CUSIP: 423452AL5<br>LEI: 254900NAOGHJ88RZ4C73 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1004500.79   | 1.45%             | 2027-12-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| LAS VEGAS SANDS CORP           | Las Vegas Sands Corp                                         | CUSIP: 517834AM9<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |    750000 | PA      | $766835.58    | 1.10%             | 2028-06-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| REPSOL E&P CAP MARKETS         | Repsol E&P Capital Markets US LLC                            | CUSIP: 76026AAA5<br>LEI: 894500D0J12FRZ3Q0M15 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1004397.21   | 1.45%             | 2028-09-16      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust     | Navient Private Education Refi Loan Trust 2020-E             | CUSIP: 63941TAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    910155 | PA      | $855627.90    | 1.23%             | 2069-05-15      | Fixed         | 1.69%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust      | Towd Point Mortgage Trust 2020-4                             | CUSIP: 89179JAB2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2240000 | PA      | $1842415.46   | 2.65%             | 2060-10-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust       | JP Morgan Mortgage Trust 2019-9                              | CUSIP: 46651YAC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    983542 | PA      | $884738.43    | 1.27%             | 2050-05-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| SBA TOWER TRUST                | SBA Tower Trust                                              | CUSIP: 78403DAP5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2481049.25   | 3.57%             | 2026-01-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| Bunker Hill Loan Depositary Tr | Bunker Hill Loan Depositary Trust 2019-2                     | CUSIP: 12061RAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    680676 | PA      | $665866.60    | 0.96%             | 2049-07-25      | Variable      | 3.19%                 | No            |                  2 | On Loan: No      |
| Dominos Pizza Master Issuer LL | Domino's Pizza Master Issuer LLC                             | CUSIP: 25755TAN0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    972500 | PA      | $919509.25    | 1.32%             | 2051-04-25      | Fixed         | 2.66%                 | No            |                  2 | On Loan: No      |
| ECMC Group Student Loan Trust  | ECMC Group Student Loan Trust 2019-1                         | CUSIP: 26829XAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1014907 | PA      | $907960.00    | 1.31%             | 2069-07-25      | Fixed         | 2.72%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities  | GS Mortgage-Backed Securities Trust 2021-PJ7                 | CUSIP: 36262CAJ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3370538 | PA      | $3010726.36   | 4.33%             | 2052-01-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| SWCH Commercial Mortgage Trust | SWCH Commercial Mortgage Trust 2025-DATA                     | CUSIP: 78489CAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $994687.50    | 1.43%             | 2042-02-15      | Floating      | 5.59%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Mortgage Backed Se | Wells Fargo Mortgage Backed Securities 2020-2 Trust          | CUSIP: 95002QAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    980348 | PA      | $847584.79    | 1.22%             | 2049-12-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| Vista Point Securitization Tru | Vista Point Securitization Trust 2020-1                      | CUSIP: 92838WAD6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2800000 | PA      | $2775367.84   | 3.99%             | 2065-03-25      | Variable      | 4.15%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust         | Sequoia Mortgage Trust 2021-5                                | CUSIP: 81748XAE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1904072 | PA      | $1668393.10   | 2.40%             | 2051-07-25      | Variable      | 2.00%                 | No            |                  2 | On Loan: No      |
| PRKCM Trust                    | PRKCM 2023-AFC3 Trust                                        | CUSIP: 693984AB2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    999602 | PA      | $1009955.34   | 1.45%             | 2058-09-25      | Variable      | 6.99%                 | No            |                  2 | On Loan: No      |
| REGAL REXNORD CORP             | Regal Rexnord Corp                                           | CUSIP: 758750AL7<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | DBT              | CORP              | US        |   1875000 | PA      | $1884096.04   | 2.71%             | 2026-02-15      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Tru | SMB Private Education Loan Trust 2017-A                      | CUSIP: 78448WAD7<br>LEI: 5493000RGRVHYZAIY180 | Long             | ABS-O            | CORP              | US        |   1762777 | PA      | $1745802.88   | 2.51%             | 2041-06-17      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Flexential Issuer, LLC         | Flexential Issuer 2021-1                                     | CUSIP: 33938MAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1500000 | PA      | $1456191.90   | 2.10%             | 2051-11-27      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| First Eagle BSL CLO LLC        | First Eagle BSL CLO 2019-1 Ltd                               | CUSIP: 32010FAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1504045.50   | 2.16%             | 2033-01-20      | Floating      | 7.84%                 | No            |                  2 | On Loan: No      |
| UNITED AIR 2020-1 B PTT        | United Airlines 2020-1 Class B Pass Through Trust            | CUSIP: 90932VAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    839442 | PA      | $839474.31    | 1.21%             | 2026-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| WR GRACE HOLDING LLC           | WR Grace Holdings LLC                                        | CUSIP: 92943GAD3<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |    992000 | PA      | $985687.51    | 1.42%             | 2027-06-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| BSPRT Issuer, Ltd.             | BSPRT 2021-FL6 Issuer Ltd                                    | CUSIP: 05601HAE4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2500000 | PA      | $2497008.75   | 3.59%             | 2036-03-15      | Floating      | 5.86%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC       | OBX 2019-INV2 Trust                                          | CUSIP: 67112VAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    185260 | PA      | $173473.38    | 0.25%             | 2049-05-27      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust     | Verus Securitization Trust 2023-8                            | CUSIP: 92540DAB1<br>LEI: 213800DTJD5UKJR53O34 | Long             | ABS-MBS          | CORP              | US        |   1013696 | PA      | $1025948.54   | 1.48%             | 2068-12-25      | Variable      | 6.66%                 | No            |                  2 | On Loan: No      |
| Nelnet Student Loan Trust      | Nelnet Student Loan Trust 2004-4                             | CUSIP: 64031QBL4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2284939 | PA      | $2249621.14   | 3.24%             | 2041-01-25      | Floating      | 4.90%                 | No            |                  2 | On Loan: No      |
| BlackRock Liquidity FedFund    | BlackRock Liquidity FedFund                                  | CUSIP: 09248U700<br>LEI: 549300T8K043VZEOVK74 | Long             | STIV             | RF                | US        |    843504 | NS      | $843504.13    | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| FREMF Mortgage Trust           | FREMF 2018-K082 Mortgage Trust                               | CUSIP: 30297LAG7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1224000 | PA      | $1205589.20   | 1.73%             | 2028-09-25      | Variable      | 4.27%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Tru | SMB Private Education Loan Trust 2014-A                      | CUSIP: 784456AE5<br>LEI: 549300XC4C7GRVLU6076 | Long             | ABS-O            | CORP              | US        |    829874 | PA      | $824539.81    | 1.19%             | 2042-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SLM Student Loan Trust         | SLM Student Loan Trust 2014-2                                | CUSIP: 78448GAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2602335 | PA      | $2579996.16   | 3.71%             | 2055-03-25      | Floating      | 5.06%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC       | Ford Motor Credit Co LLC                                     | CUSIP: 345397F81<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1003400.35   | 1.44%             | 2026-11-05      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP         | CCO Holdings LLC / CCO Holdings Capital Corp                 | CUSIP: 1248EPBT9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1489336.89   | 2.14%             | 2027-05-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Tru | SMB Private Education Loan Trust 2020-PTB                    | CUSIP: 78449DAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1714206 | PA      | $1622578.52   | 2.34%             | 2054-09-15      | Fixed         | 1.60%                 | No            |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN        | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp | CUSIP: 87470LAG6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $999816.80    | 1.44%             | 2027-03-01      | Fixed         | 6.00%                 | No            |                  2 | 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