# EDGAR Filing Document

**Accession Number:** 0000702340
**File Stem:** 0000940400-25-009789
**Filing Date:** 2025-11
**Character Count:** 39899
**Document Hash:** f427f1317a791f89de878477988a80ea
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-009789.hdr.sgml**: 20251124

**ACCESSION NUMBER**: 0000940400-25-009789

**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:** 251513148

**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

### Mid Cap Value Fund (Series ID: S000006726)

| Class ID   | Class Name         | Ticker Symbol   |
|:---|:---|:---|
| C000018289 | Mid Cap Value Fund |  |

## Nport-Ex

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

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

#### Mid Cap Value Fund<br>

---

| | | |
|:---|:---|:---|
|  | **Number of<br> Shares** | &nbsp;&nbsp;**Value†** |
| **COMMON STOCKS — 91.9%** | **COMMON STOCKS — 91.9%** | **COMMON STOCKS — 91.9%** |
| **Aerospace & Defense — 2.1%** | **Aerospace & Defense — 2.1%** | **Aerospace & Defense — 2.1%** |
| L3Harris Technologies, Inc. | &nbsp;&nbsp;&nbsp;5981 | &nbsp;&nbsp;$1826657 |
| **Banks — 5.1%** | **Banks — 5.1%** | **Banks — 5.1%** |
| Cullen/Frost Bankers, Inc. | &nbsp;&nbsp;&nbsp;6924 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;877756 |
| The PNC Financial Services Group, Inc. | &nbsp;&nbsp;&nbsp;9037 | &nbsp;&nbsp;&nbsp;&nbsp;1815804 |
| Wintrust Financial Corp. | &nbsp;&nbsp;12827 | &nbsp;&nbsp;&nbsp;&nbsp;1698808 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;4392368 |
| **Beverages — 0.9%** | **Beverages — 0.9%** | **Beverages — 0.9%** |
| Keurig Dr Pepper, Inc. | 29722 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;758208 |
| **Biotechnology — 2.0%** | **Biotechnology — 2.0%** | **Biotechnology — 2.0%** |
| BioMarin Pharmaceutical, Inc.\* | &nbsp;&nbsp;&nbsp;8955 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;485003 |
| Corteva, Inc. | &nbsp;&nbsp;18037 | &nbsp;&nbsp;&nbsp;&nbsp;1219842 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1704845 |
| **Building Materials — 3.8%** | **Building Materials — 3.8%** | **Building Materials — 3.8%** |
| Carlisle Cos., Inc. | &nbsp;&nbsp;&nbsp;4039 | &nbsp;&nbsp;&nbsp;&nbsp;1328670 |
| Martin Marietta Materials, Inc. | &nbsp;&nbsp;&nbsp;1862 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1173581 |
| Owens Corning | &nbsp;&nbsp;&nbsp;&nbsp;5193 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;734602 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;3236853 |
| **Chemicals — 1.6%** | **Chemicals — 1.6%** | **Chemicals — 1.6%** |
| DuPont de Nemours, Inc. | &nbsp;&nbsp;&nbsp;3868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301317 |
| Westlake Corp. | &nbsp;&nbsp;14382 | &nbsp;&nbsp;&nbsp;&nbsp;1108277 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1409594 |
| **Commercial Services — 3.0%** | **Commercial Services — 3.0%** | **Commercial Services — 3.0%** |
| MarketAxess Holdings, Inc. | &nbsp;&nbsp;&nbsp;5090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;886933 |
| TransUnion | 20326 | &nbsp;&nbsp;&nbsp;&nbsp;1702912 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2589845 |
| **Distribution & Wholesale — 1.4%** | **Distribution & Wholesale — 1.4%** | **Distribution & Wholesale — 1.4%** |
| LKQ Corp. | 40027 | &nbsp;&nbsp;&nbsp;&nbsp;1222425 |
| **Diversified Financial Services — 3.7%** | **Diversified Financial Services — 3.7%** | **Diversified Financial Services — 3.7%** |
| Ally Financial, Inc. | 43687 | &nbsp;&nbsp;&nbsp;&nbsp;1712530 |
| Lazard, Inc. | &nbsp;&nbsp;27257 | &nbsp;&nbsp;&nbsp;&nbsp;1438625 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3151155 |
| **Electric — 6.0%** | **Electric — 6.0%** | **Electric — 6.0%** |
| Alliant Energy Corp. | &nbsp;&nbsp;33423 | &nbsp;&nbsp;&nbsp;&nbsp;2253044 |
| Entergy Corp. | &nbsp;&nbsp;19811 | &nbsp;&nbsp;&nbsp;&nbsp;1846187 |
| PPL Corp. | 27349 | &nbsp;&nbsp;&nbsp;&nbsp;1016289 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;5115520 |
| **Electrical Components & Equipment — 3.2%** | **Electrical Components & Equipment — 3.2%** | **Electrical Components & Equipment — 3.2%** |
| AMETEK, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;7119 | &nbsp;&nbsp;&nbsp;&nbsp;1338372 |
| Littelfuse, Inc. | &nbsp;&nbsp;&nbsp;5362 | &nbsp;&nbsp;&nbsp;&nbsp;1388812 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2727184 |
| **Electronics — 3.6%** | **Electronics — 3.6%** | **Electronics — 3.6%** |
| Arrow Electronics, Inc.\* | &nbsp;&nbsp;&nbsp;4744 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;574024 |
| Keysight Technologies, Inc.\* | &nbsp;&nbsp;&nbsp;3516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;615019 |
| Vontier Corp. | 44433 | &nbsp;&nbsp;&nbsp;&nbsp;1864853 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;3053896 |
| **Engineering & Construction — 0.9%** | **Engineering & Construction — 0.9%** | **Engineering & Construction — 0.9%** |
| TopBuild Corp.\* | &nbsp;&nbsp;&nbsp;2055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;803217 |

---

---

| | | |
|:---|:---|:---|
|  | **Number of<br> Shares** | &nbsp;&nbsp;**Value†** |
| **Environmental Control — 1.4%** | **Environmental Control — 1.4%** | **Environmental Control — 1.4%** |
| Waste Connections, Inc. | &nbsp;&nbsp;6804 | &nbsp;&nbsp;$1196143 |
| **Food — 1.1%** | **Food — 1.1%** | **Food — 1.1%** |
| Lamb Weston Holdings, Inc. | &nbsp;&nbsp;15772 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;916038 |
| **Hand & Machine Tools — 1.8%** | **Hand & Machine Tools — 1.8%** | **Hand & Machine Tools — 1.8%** |
| Lincoln Electric Holdings, Inc. | &nbsp;&nbsp;6486 | &nbsp;&nbsp;&nbsp;&nbsp;1529593 |
| **Healthcare Products — 2.5%** | **Healthcare Products — 2.5%** | **Healthcare Products — 2.5%** |
| Globus Medical, Inc., Class A\* | &nbsp;&nbsp;15253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;873539 |
| Hologic, Inc.\* | 19053 | &nbsp;&nbsp;&nbsp;&nbsp;1285887 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2159426 |
| **Healthcare Services — 3.4%** | **Healthcare Services — 3.4%** | **Healthcare Services — 3.4%** |
| Humana, Inc. | &nbsp;&nbsp;&nbsp;1265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;329115 |
| ICON PLC\* | &nbsp;&nbsp;&nbsp;7296 | &nbsp;&nbsp;&nbsp;&nbsp;1276800 |
| Labcorp Holdings, Inc. | &nbsp;&nbsp;4698 | &nbsp;&nbsp;&nbsp;&nbsp;1348608 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2954523 |
| **Home Builders — 1.3%** | **Home Builders — 1.3%** | **Home Builders — 1.3%** |
| Toll Brothers, Inc. | &nbsp;&nbsp;&nbsp;8291 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1145319 |
| **Insurance — 7.5%** | **Insurance — 7.5%** | **Insurance — 7.5%** |
| Axis Capital Holdings Ltd. | &nbsp;&nbsp;14813 | &nbsp;&nbsp;&nbsp;&nbsp;1419085 |
| Everest Group Ltd. | &nbsp;&nbsp;&nbsp;5262 | &nbsp;&nbsp;&nbsp;&nbsp;1842910 |
| Selective Insurance Group, Inc. | 20292 | &nbsp;&nbsp;&nbsp;&nbsp;1645073 |
| The Hartford Insurance Group, Inc. | &nbsp;&nbsp;&nbsp;11351 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1514110 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;6421178 |
| **Internet — 0.9%** | **Internet — 0.9%** | **Internet — 0.9%** |
| CDW Corp. | &nbsp;&nbsp;&nbsp;4983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;793692 |
| **Machinery — Construction & Mining — 1.5%** | **Machinery — Construction & Mining — 1.5%** | **Machinery — Construction & Mining — 1.5%** |
| BWX Technologies, Inc. | &nbsp;&nbsp;6924 | &nbsp;&nbsp;&nbsp;&nbsp;1276578 |
| **Media — 1.6%** | **Media — 1.6%** | **Media — 1.6%** |
| Fox Corp., Class B | 23572 | &nbsp;&nbsp;&nbsp;&nbsp;1350440 |
| **Mining — 1.7%** | **Mining — 1.7%** | **Mining — 1.7%** |
| Freeport-McMoRan, Inc. | &nbsp;&nbsp;37981 | &nbsp;&nbsp;&nbsp;&nbsp;1489615 |
| **Miscellaneous Manufacturing — 2.6%** | **Miscellaneous Manufacturing — 2.6%** | **Miscellaneous Manufacturing — 2.6%** |
| 3M Co. | &nbsp;&nbsp;&nbsp;8823 | &nbsp;&nbsp;&nbsp;&nbsp;1369153 |
| Fabrinet\* | &nbsp;&nbsp;&nbsp;2343 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;854305 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2223458 |
| **Oil & Gas — 5.0%** | **Oil & Gas — 5.0%** | **Oil & Gas — 5.0%** |
| ConocoPhillips | &nbsp;&nbsp;15105 | &nbsp;&nbsp;&nbsp;&nbsp;1428782 |
| Expand Energy Corp. | 17800 | &nbsp;&nbsp;&nbsp;&nbsp;1891072 |
| Valero Energy Corp. | &nbsp;&nbsp;&nbsp;5543 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;943751 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;4263605 |
| **Oil & Gas Services — 0.7%** | **Oil & Gas Services — 0.7%** | **Oil & Gas Services — 0.7%** |
| Baker Hughes Co. | &nbsp;&nbsp;12931 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;629998 |
| **Packaging and Containers — 1.8%** | **Packaging and Containers — 1.8%** | **Packaging and Containers — 1.8%** |
| Ball Corp. | 28767 | &nbsp;&nbsp;&nbsp;&nbsp;1450432 |
| Graphic Packaging Holding Co. | &nbsp;&nbsp;&nbsp;4231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82801 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1533233 |

---

------

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

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

#### Mid Cap Value Fund<br>

---

| | | |
|:---|:---|:---|
|  | **Number of<br> Shares** | &nbsp;&nbsp;**Value†** |
| **COMMON STOCKS — (continued)** | **COMMON STOCKS — (continued)** | **COMMON STOCKS — (continued)** |
| **Pharmaceuticals — 1.0%** | **Pharmaceuticals — 1.0%** | **Pharmaceuticals — 1.0%** |
| Cardinal Health, Inc. | &nbsp;&nbsp;&nbsp;5598 | &nbsp;&nbsp;&nbsp;&nbsp;$878662 |
| **Real Estate — 1.5%** | **Real Estate — 1.5%** | **Real Estate — 1.5%** |
| CBRE Group, Inc., Class A\* | &nbsp;&nbsp;&nbsp;7926 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1248821 |
| **Retail — 9.4%** | **Retail — 9.4%** | **Retail — 9.4%** |
| AutoZone, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;307 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1317104 |
| Bath & Body Works, Inc. | &nbsp;&nbsp;47148 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1214532 |
| Boot Barn Holdings, Inc.\* | &nbsp;&nbsp;&nbsp;2798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;463685 |
| Burlington Stores, Inc.\* | &nbsp;&nbsp;&nbsp;2693 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;685369 |
| Casey's General Stores, Inc. | &nbsp;&nbsp;&nbsp;4251 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2403175 |
| MSC Industrial Direct Co., Inc., Class A | 10063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;927205 |
| O'Reilly Automotive, Inc.\* | &nbsp;&nbsp;&nbsp;9750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1051147 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8062217 |
| **Semiconductors — 1.0%** | **Semiconductors — 1.0%** | **Semiconductors — 1.0%** |
| Teradyne, Inc. | &nbsp;&nbsp;&nbsp;6233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;857910 |
| **Software — 3.0%** | **Software — 3.0%** | **Software — 3.0%** |
| Electronic Arts, Inc. | &nbsp;&nbsp;&nbsp;5099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1028468 |
| Fidelity National Information Services, Inc. | &nbsp;&nbsp;11447 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;754815 |
| Nice Ltd., ADR\* | &nbsp;&nbsp;&nbsp;5636 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;815980 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2599263 |
| **Transportation — 3.9%** | **Transportation — 3.9%** | **Transportation — 3.9%** |
| Canadian Pacific Kansas City Ltd. | 14069 | &nbsp;&nbsp;&nbsp;&nbsp;1048000 |
| Kirby Corp.\* | 12895 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1076088 |
| Landstar System, Inc. | &nbsp;&nbsp;&nbsp;5287 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;647974 |
| Saia, Inc.\* | &nbsp;&nbsp;&nbsp;1766 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;528670 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3300732 |
| **TOTAL COMMON STOCKS<br> (Cost $61,988,807)** | **TOTAL COMMON STOCKS<br> (Cost $61,988,807)** | &nbsp;&nbsp;&nbsp;**78822211** |
| **REAL ESTATE INVESTMENT TRUSTS — 6.0%** | **REAL ESTATE INVESTMENT TRUSTS — 6.0%** | **REAL ESTATE INVESTMENT TRUSTS — 6.0%** |
| **Diversified — 1.8%** | **Diversified — 1.8%** | **Diversified — 1.8%** |
| Lamar Advertising Co., Class A | &nbsp;&nbsp;12763 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1562446 |
| **Industrial — 1.2%** | **Industrial — 1.2%** | **Industrial — 1.2%** |
| STAG lndustrial, Inc. | 28268 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;997578 |
| **Manufactured Homes — 0.9%** | **Manufactured Homes — 0.9%** | **Manufactured Homes — 0.9%** |
| Equity LifeStyle Properties, Inc. | &nbsp;&nbsp;12841 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;779449 |
| **Single Tenant — 2.1%** | **Single Tenant — 2.1%** | **Single Tenant — 2.1%** |
| Agree Realty Corp. | 25599 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1818553 |
| **TOTAL REAL ESTATE INVESTMENT TRUSTS<br> (Cost $4,343,510)** |  | &nbsp;&nbsp;&nbsp;&nbsp;**5158026** |

---

---

| | |
|:---|:---|
| **Number ofShares** | &nbsp;&nbsp;**Value†** |
| **SHORT-TERM INVESTMENTS — 2.3%** | **SHORT-TERM INVESTMENTS — 2.3%** |

---

---

| | | |
|:---|:---|:---|
| BlackRock Liquidity FedFund - Institutional Shares (seven-day effective yield 4.027%)<br> **(Cost $1,982,741)** | 1982741 | &nbsp;&nbsp;&nbsp;&nbsp;$**1982741** |
| **TOTAL INVESTMENTS — 100.2%<br> (Cost $68,315,058)** |  | &nbsp;&nbsp;**$85962978** |
| **Other Assets & Liabilities — (0.2)%** | **Other Assets & Liabilities — (0.2)%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(168735)** |
| **TOTAL NET ASSETS — 100.0%** |  | &nbsp;&nbsp;**$85794243** |

---

------

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

ADR— American Depositary Receipt. <br> PLC— Public Limited Company.

---

| | |
|:---|:---|
| **Country Weightings as of 9/30/2025††** | **Country Weightings as of 9/30/2025††** |
| United States | &nbsp;&nbsp;&nbsp;90% |
| Bermuda | &nbsp;&nbsp;&nbsp;&nbsp;4 |
| Canada | &nbsp;&nbsp;&nbsp;&nbsp;3 |
| Ireland | &nbsp;&nbsp;&nbsp;&nbsp;1 |
| Thailand | &nbsp;&nbsp;&nbsp;&nbsp;1 |
| Israel | &nbsp;&nbsp;&nbsp;&nbsp;1 |
| 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 Mid Cap Value Fund

- **b. EDGAR series identifier (if any):** S000006726

- **c. LEI of Series:** 1X7ODXGBP8XNEQCQAA95

**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:** $85744340.39

**Total Liabilities:** $137334.57

**Net Assets:** $85607005.82

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000018289 | 1.14%                | 3.05%                | -0.92%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $573752.97               | $318239.45                                 |
| Month 2  | $525175.81               | $1925461.42                                |
| Month 3  | $385611.02               | $-1237848.36                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Canadian Pacific Kansas City L | Canadian Pacific Kansas City Ltd           | CUSIP: 13646K108<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     14069 | NS      | $1047999.81   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Ally Financial Inc             | Ally Financial Inc                         | CUSIP: 02005N100<br>LEI: 549300JBN1OSM8YNAI90 | Long             | EC               | CORP              | US        |     43687 | NS      | $1712530.40   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Selective Insurance Group Inc  | Selective Insurance Group Inc              | CUSIP: 816300107<br>LEI: 549300R3WGJWLE40R258 | Long             | EC               | CORP              | US        |     20292 | NS      | $1645072.44   | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Teradyne Inc                   | Teradyne Inc                               | CUSIP: 880770102<br>LEI: C3X4YJ278QNZHRJULN75 | Long             | EC               | CORP              | US        |      6233 | NS      | $857910.12    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| CDW Corp/DE                    | CDW Corp/DE                                | CUSIP: 12514G108<br>LEI: 9845001B052ABF0B6755 | Long             | EC               | CORP              | US        |      4447 | NS      | $708318.16    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Axis Capital Holdings Ltd      | Axis Capital Holdings Ltd                  | CUSIP: 000000000<br>LEI: 635400VD2NQBYAHMEM55 | Long             | EC               | CORP              | BM        |     14813 | NS      | $1419085.40   | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Fabrinet                       | Fabrinet                                   | CUSIP: 000000000<br>LEI: 5493004TETZ6IYF7CV44 | Long             | EC               | CORP              | TH        |      2343 | NS      | $854304.66    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Saia Inc                       | Saia Inc                                   | CUSIP: 78709Y105<br>LEI: 549300WNPG4N9GBOYB29 | Long             | EC               | CORP              | US        |      1766 | NS      | $528669.76    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Landstar System Inc            | Landstar System Inc                        | CUSIP: 515098101<br>LEI: 254900CUQXQRL09MEI52 | Long             | EC               | CORP              | US        |      5287 | NS      | $647974.72    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| MarketAxess Holdings Inc       | MarketAxess Holdings Inc                   | CUSIP: 57060D108<br>LEI: 5493002U1CA1XJOVID83 | Long             | EC               | CORP              | US        |      5090 | NS      | $886932.50    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Casey's General Stores Inc     | Casey's General Stores Inc                 | CUSIP: 147528103<br>LEI: 549300CAFWSI86V66Q65 | Long             | EC               | CORP              | US        |      4251 | NS      | $2403175.32   | 2.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Kirby Corp                     | Kirby Corp                                 | CUSIP: 497266106<br>LEI: I7NO6FZO5GUCG585T325 | Long             | EC               | CORP              | US        |     12895 | NS      | $1076087.75   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Agree Realty Corp              | Agree Realty Corp                          | CUSIP: 008492100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     25599 | NS      | $1818552.96   | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Owens Corning                  | Owens Corning                              | CUSIP: 690742101<br>LEI: JO5M6676RDJIZ2U8X907 | Long             | EC               | CORP              | US        |      5193 | NS      | $734601.78    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Westlake Corp                  | Westlake Corp                              | CUSIP: 960413102<br>LEI: GOXNEVUM0LL78B1OS344 | Long             | EC               | CORP              | US        |     14382 | NS      | $1108276.92   | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| STAG Industrial Inc            | STAG Industrial Inc                        | CUSIP: 85254J102<br>LEI: 549300QWYX2W6FASVQ07 | Long             | EC               | CORP              | US        |     28268 | NS      | $997577.72    | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Lamb Weston Holdings Inc       | Lamb Weston Holdings Inc                   | CUSIP: 513272104<br>LEI: 5493005SMYID1D2OY946 | Long             | EC               | CORP              | US        |     15827 | NS      | $919232.16    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Expand Energy Corp             | Expand Energy Corp                         | CUSIP: 165167735<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | EC               | CORP              | US        |     17800 | NS      | $1891072.00   | 2.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Toll Brothers Inc              | Toll Brothers Inc                          | CUSIP: 889478103<br>LEI: 529900JB6IS9MSZGVR44 | Long             | EC               | CORP              | US        |      8291 | NS      | $1145318.74   | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Martin Marietta Materials Inc  | Martin Marietta Materials Inc              | CUSIP: 573284106<br>LEI: 5299005MZ4WZECVATV08 | Long             | EC               | CORP              | US        |      1862 | NS      | $1173581.36   | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| L3Harris Technologies Inc      | L3Harris Technologies Inc                  | CUSIP: 502431109<br>LEI: 549300UTE50ZMDBG8A20 | Long             | EC               | CORP              | US        |      5981 | NS      | $1826657.21   | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| MSC Industrial Direct Co Inc   | MSC Industrial Direct Co Inc               | CUSIP: 553530106<br>LEI: 0XVKH0LN6YGOWO2EGO17 | Long             | EC               | CORP              | US        |     10063 | NS      | $927204.82    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Everest Group Ltd              | Everest Group Ltd                          | CUSIP: 000000000<br>LEI: 549300N24XF2VV0B3570 | Long             | EC               | CORP              | BM        |      5262 | NS      | $1842910.26   | 2.15%             |  |  |  | No            |                  1 | On Loan: No      |
| ICON PLC                       | ICON PLC                                   | CUSIP: 000000000<br>LEI: 6354008SRQGEMC4XFI67 | Long             | EC               | CORP              | IE        |      7296 | NS      | $1276800.00   | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Graphic Packaging Holding Co   | Graphic Packaging Holding Co               | CUSIP: 388689101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8637 | NS      | $169026.09    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Lamar Advertising Co           | Lamar Advertising Co                       | CUSIP: 512816109<br>LEI: 529900Y8WW4MKVPTB543 | Long             | EC               | CORP              | US        |     12763 | NS      | $1562446.46   | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| PNC Financial Services Group I | PNC Financial Services Group Inc/The       | CUSIP: 693475105<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | EC               | CORP              | US        |      9037 | NS      | $1815804.41   | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Ball Corp                      | Ball Corp                                  | CUSIP: 058498106<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | EC               | CORP              | US        |     28767 | NS      | $1450432.14   | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| 3M Co                          | 3M Co                                      | CUSIP: 88579Y101<br>LEI: LUZQVYP4VS22CLWDAR65 | Long             | EC               | CORP              | US        |      8823 | NS      | $1369153.14   | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Littelfuse Inc                 | Littelfuse Inc                             | CUSIP: 537008104<br>LEI: 549300MY7HLQFYTPCX75 | Long             | EC               | CORP              | US        |      5362 | NS      | $1388811.62   | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Bath & Body Works Inc          | Bath & Body Works Inc                      | CUSIP: 070830104<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | EC               | CORP              | US        |     47148 | NS      | $1214532.48   | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Hartford Insurance Group Inc/T | Hartford Insurance Group Inc/The           | CUSIP: 416515104<br>LEI: IU7C3FTM7Y3BQM112U94 | Long             | EC               | CORP              | US        |     11351 | NS      | $1514109.89   | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Globus Medical Inc             | Globus Medical Inc                         | CUSIP: 379577208<br>LEI: 5299003M2P4CIK0RF205 | Long             | EC               | CORP              | US        |     15253 | NS      | $873539.31    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Cardinal Health Inc            | Cardinal Health Inc                        | CUSIP: 14149Y108<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | EC               | CORP              | US        |      5598 | NS      | $878662.08    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Corteva Inc                    | Corteva Inc                                | CUSIP: 22052L104<br>LEI: 549300WZN9I2QKLS0O94 | Long             | EC               | CORP              | US        |     18037 | NS      | $1219842.31   | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Electronic Arts Inc            | Electronic Arts Inc                        | CUSIP: 285512109<br>LEI: 549300O7A67PUEYKDL45 | Long             | EC               | CORP              | US        |      5099 | NS      | $1028468.30   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Lincoln Electric Holdings Inc  | Lincoln Electric Holdings Inc              | CUSIP: 533900106<br>LEI: BIMGBY40SIN95O01BN93 | Long             | EC               | CORP              | US        |      6486 | NS      | $1529593.38   | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Fox Corp                       | Fox Corp                                   | CUSIP: 35137L204<br>LEI: 549300DDU6FDRBIELS05 | Long             | EC               | CORP              | US        |     23572 | NS      | $1350439.88   | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Burlington Stores Inc          | Burlington Stores Inc                      | CUSIP: 122017106<br>LEI: 5299003Z37DVGKKC1W09 | Long             | EC               | CORP              | US        |      2693 | NS      | $685368.50    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Alliant Energy Corp            | Alliant Energy Corp                        | CUSIP: 018802108<br>LEI: 5493009ML300G373MZ12 | Long             | EC               | CORP              | US        |     33423 | NS      | $2253044.43   | 2.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity LifeStyle Properties In | Equity LifeStyle Properties Inc            | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               | CORP              | US        |     12841 | NS      | $779448.70    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| ConocoPhillips                 | ConocoPhillips                             | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |     15105 | NS      | $1428781.95   | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Lazard Inc                     | Lazard Inc                                 | CUSIP: 52110M109<br>LEI: 254900RIBCDJSUFG1A11 | Long             | EC               | CORP              | US        |     27257 | NS      | $1438624.46   | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Arrow Electronics Inc          | Arrow Electronics Inc                      | CUSIP: 042735100<br>LEI: 549300YNNLBXT8N8R512 | Long             | EC               | CORP              | US        |      4744 | NS      | $574024.00    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Nice Ltd                       | Nice Ltd                                   | CUSIP: 653656108<br>LEI: 254900YTY4EF5Z4W0A51 | Long             | EC               | CORP              | IL        |      5636 | NS      | $815980.08    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Vontier Corp                   | Vontier Corp                               | CUSIP: 928881101<br>LEI: 549300VVSQLG4P5K4639 | Long             | EC               | CORP              | US        |     44433 | NS      | $1864853.01   | 2.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Entergy Corp                   | Entergy Corp                               | CUSIP: 29364G103<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | EC               | CORP              | US        |     19811 | NS      | $1846187.09   | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| AutoZone Inc                   | AutoZone Inc                               | CUSIP: 053332102<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | EC               | CORP              | US        |       307 | NS      | $1317103.68   | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| CBRE Group Inc                 | CBRE Group Inc                             | CUSIP: 12504L109<br>LEI: 52990016II9MJ2OSWA10 | Long             | EC               | CORP              | US        |      7926 | NS      | $1248820.56   | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| PPL Corp                       | PPL Corp                                   | CUSIP: 69351T106<br>LEI: 9N3UAJSNOUXFKQLF3V18 | Long             | EC               | CORP              | US        |     27349 | NS      | $1016288.84   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity National Information  | Fidelity National Information Services Inc | CUSIP: 31620M106<br>LEI: 6WQI0GK1PRFVBA061U48 | Long             | EC               | CORP              | US        |     11447 | NS      | $754815.18    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Humana Inc                     | Humana Inc                                 | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Long             | EC               | CORP              | US        |      1265 | NS      | $329115.05    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| TransUnion                     | TransUnion                                 | CUSIP: 89400J107<br>LEI: 549300ZS772LUNUMRB03 | Long             | EC               | CORP              | US        |     20326 | NS      | $1702912.28   | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Wintrust Financial Corp        | Wintrust Financial Corp                    | CUSIP: 97650W108<br>LEI: Q774KI4AW80FHFW33O61 | Long             | EC               | CORP              | US        |     12827 | NS      | $1698807.88   | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Baker Hughes Co                | Baker Hughes Co                            | CUSIP: 05722G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12931 | NS      | $629998.32    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| TopBuild Corp                  | TopBuild Corp                              | CUSIP: 89055F103<br>LEI: 5493007YSKHOL4RWII46 | Long             | EC               | CORP              | US        |      2055 | NS      | $803217.30    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Keysight Technologies Inc      | Keysight Technologies Inc                  | CUSIP: 49338L103<br>LEI: 549300GLKVIO8YRCYN02 | Long             | EC               | CORP              | US        |      3516 | NS      | $615018.72    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| BWX Technologies Inc           | BWX Technologies Inc                       | CUSIP: 05605H100<br>LEI: 549300NP85N265KWMS58 | Long             | EC               | CORP              | US        |      6924 | NS      | $1276577.88   | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Freeport-McMoRan Inc           | Freeport-McMoRan Inc                       | CUSIP: 35671D857<br>LEI: 549300IRDTHJQ1PVET45 | Long             | EC               | CORP              | US        |     37981 | NS      | $1489614.82   | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock Liquidity FedFund    | BlackRock Liquidity FedFund                | CUSIP: 09248U700<br>LEI: 549300T8K043VZEOVK74 | Long             | STIV             | RF                | US        |   2002145 | NS      | $2002144.54   | 2.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Hologic Inc                    | Hologic Inc                                | CUSIP: 436440101<br>LEI: 549300DYP6F5ZJL0LB74 | Long             | EC               | CORP              | US        |     19053 | NS      | $1285886.97   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| AMETEK Inc                     | AMETEK Inc                                 | CUSIP: 031100100<br>LEI: 549300WZDEF9KKE40E98 | Long             | EC               | CORP              | US        |      7119 | NS      | $1338372.00   | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Keurig Dr Pepper Inc           | Keurig Dr Pepper Inc                       | CUSIP: 49271V100<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | EC               | CORP              | US        |     29722 | NS      | $758208.22    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Valero Energy Corp             | Valero Energy Corp                         | CUSIP: 91913Y100<br>LEI: 549300XTO5VR8SKV1V74 | Long             | EC               | CORP              | US        |      5543 | NS      | $943751.18    | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Cullen/Frost Bankers Inc       | Cullen/Frost Bankers Inc                   | CUSIP: 229899109<br>LEI: 529900V2E9G9AY665O34 | Long             | EC               | CORP              | US        |      6924 | NS      | $877755.48    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| LKQ Corp                       | LKQ Corp                                   | CUSIP: 501889208<br>LEI: DS830JTTZQN6GK0I2E41 | Long             | EC               | CORP              | US        |     40027 | NS      | $1222424.58   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Labcorp Holdings Inc           | Labcorp Holdings Inc                       | CUSIP: 504922105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4698 | NS      | $1348607.88   | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| O'Reilly Automotive Inc        | O'Reilly Automotive Inc                    | CUSIP: 67103H107<br>LEI: 549300K2RLMQL149Q332 | Long             | EC               | CORP              | US        |      9750 | NS      | $1051147.50   | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Carlisle Cos Inc               | Carlisle Cos Inc                           | CUSIP: 142339100<br>LEI: XR64VGX1ZPX6G7ZN7Z11 | Long             | EC               | CORP              | US        |      4039 | NS      | $1328669.44   | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Boot Barn Holdings Inc         | Boot Barn Holdings Inc                     | CUSIP: 099406100<br>LEI: 529900QE1BFMYA3N4E71 | Long             | EC               | CORP              | US        |      2798 | NS      | $463684.56    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Waste Connections Inc          | Waste Connections Inc                      | CUSIP: 94106B101<br>LEI: 549300HDLRTPBQU69P29 | Long             | EC               | CORP              | CA        |      6804 | NS      | $1196143.20   | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| BioMarin Pharmaceutical Inc    | BioMarin Pharmaceutical Inc                | CUSIP: 09061G101<br>LEI: NSLL8ITTRR0J5HEMR848 | Long             | EC               | CORP              | US        |      8955 | NS      | $485002.80    | 0.57%             |  |  |  | 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