# EDGAR Filing Document

**Accession Number:** 0000702340
**File Stem:** 0000940400-25-009808
**Filing Date:** 2025-11
**Character Count:** 50857
**Document Hash:** e01033d7574710e5b35e509e0b8bc684
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-009808.hdr.sgml**: 20251124

**ACCESSION NUMBER**: 0000940400-25-009808

**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:** 251513169

**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

### Smid Cap Value Fund (Series ID: S000022080)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000063371 | Smid Cap Value Fund |  |

## Nport-Ex

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

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

#### SMID Cap Value Fund<br>

---

| | | |
|:---|:---|:---|
|  | **Number of<br> Shares** | &nbsp;&nbsp;**Value†** |
| **COMMON STOCKS — 92.8%** | **COMMON STOCKS — 92.8%** | **COMMON STOCKS — 92.8%** |
| **Aerospace & Defense — 1.2%** | **Aerospace & Defense — 1.2%** | **Aerospace & Defense — 1.2%** |
| Hexcel Corp. | &nbsp;&nbsp;&nbsp;8624 | &nbsp;&nbsp;&nbsp;$540725 |
| **Auto Parts & Equipment — 1.4%** | **Auto Parts & Equipment — 1.4%** | **Auto Parts & Equipment — 1.4%** |
| BorgWarner, Inc. | &nbsp;&nbsp;14331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;629991 |
| **Banks — 10.0%** | **Banks — 10.0%** | **Banks — 10.0%** |
| Comerica, Inc. | &nbsp;&nbsp;&nbsp;5742 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;393442 |
| First Bancorp | &nbsp;&nbsp;18234 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;402060 |
| First Citizens BancShares, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;597579 |
| First Hawaiian, Inc. | &nbsp;&nbsp;14477 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;359464 |
| Independent Bank Corp. | &nbsp;&nbsp;&nbsp;6766 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;468004 |
| Texas Capital Bancshares, Inc.\* | &nbsp;&nbsp;&nbsp;4400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;371932 |
| UMB Financial Corp. | &nbsp;&nbsp;&nbsp;5255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;621929 |
| Walker & Dunlop, Inc. | &nbsp;&nbsp;&nbsp;4958 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;414588 |
| Webster Financial Corp. | &nbsp;&nbsp;&nbsp;7405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;440153 |
| Wintrust Financial Corp. | &nbsp;&nbsp;&nbsp;3688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;488439 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;4557590 |
| **Building Materials — 0.3%** | **Building Materials — 0.3%** | **Building Materials — 0.3%** |
| Gibraltar Industries, Inc.\* | &nbsp;&nbsp;&nbsp;2265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142242 |
| **Chemicals — 2.4%** | **Chemicals — 2.4%** | **Chemicals — 2.4%** |
| Avient Corp. | &nbsp;&nbsp;13979 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460608 |
| RPM International, Inc. | &nbsp;&nbsp;&nbsp;5601 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;660246 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1120854 |
| **Commercial Services — 6.4%** | **Commercial Services — 6.4%** | **Commercial Services — 6.4%** |
| ADT, Inc. | &nbsp;&nbsp;70127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;610806 |
| First Advantage Corp.\* | 29029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;446756 |
| GXO Logistics, Inc.\* | 10576 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;559365 |
| Herc Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;2130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;248486 |
| Laureate Education, Inc.\* | 23653 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;746016 |
| WillScot Holdings Corp. | 15995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;337654 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2949083 |
| **Computers — 5.6%** | **Computers — 5.6%** | **Computers — 5.6%** |
| CACI International, Inc., Class A\* | &nbsp;&nbsp;&nbsp;&nbsp;1307 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;651906 |
| Crane NXT Co. | &nbsp;&nbsp;&nbsp;7734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;518719 |
| Globant S.A.\* | &nbsp;&nbsp;&nbsp;4921 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;282367 |
| Lumentum Holdings, Inc.\* | &nbsp;&nbsp;&nbsp;3207 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;521811 |
| NCR Atleos Corp.\* | &nbsp;&nbsp;&nbsp;15119 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;594328 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2569131 |
| **Distribution & Wholesale — 1.1%** | **Distribution & Wholesale — 1.1%** | **Distribution & Wholesale — 1.1%** |
| Core & Main, Inc., Class A\* | &nbsp;&nbsp;&nbsp;&nbsp;9513 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;512085 |
| **Diversified Financial Services — 2.9%** | **Diversified Financial Services — 2.9%** | **Diversified Financial Services — 2.9%** |
| Cboe Global Markets, Inc. | &nbsp;&nbsp;&nbsp;1055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;258739 |
| Invesco Ltd. | 26353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;604538 |
| Stifel Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;3912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;443894 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1307171 |
| **Electric — 1.7%** | **Electric — 1.7%** | **Electric — 1.7%** |
| IDACORP, Inc. | &nbsp;&nbsp;&nbsp;5958 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;787350 |
| **Electronics — 2.1%** | **Electronics — 2.1%** | **Electronics — 2.1%** |
| Avnet, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;7335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;383474 |
| TD SYNNEX Corp. | &nbsp;&nbsp;&nbsp;3593 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;588354 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;971828 |

---

---

| | | |
|:---|:---|:---|
|  | **Number of<br> Shares** | &nbsp;&nbsp;**Value†** |
| **Engineering & Construction — 1.2%** | **Engineering & Construction — 1.2%** | **Engineering & Construction — 1.2%** |
| Fluor Corp.\* | &nbsp;&nbsp;13347 | &nbsp;&nbsp;&nbsp;$561508 |
| **Environmental Control — 1.4%** | **Environmental Control — 1.4%** | **Environmental Control — 1.4%** |
| Pentair PLC | &nbsp;&nbsp;&nbsp;5973 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;661569 |
| **Food — 1.0%** | **Food — 1.0%** | **Food — 1.0%** |
| Nomad Foods Ltd. | &nbsp;&nbsp;33192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;436475 |
| **Gas — 1.7%** | **Gas — 1.7%** | **Gas — 1.7%** |
| Chesapeake Utilities Corp. | &nbsp;&nbsp;&nbsp;&nbsp;2161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;291065 |
| ONE Gas, Inc. | &nbsp;&nbsp;&nbsp;6107 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;494301 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;785366 |
| **Healthcare Products — 4.0%** | **Healthcare Products — 4.0%** | **Healthcare Products — 4.0%** |
| Bio-Techne Corp. | &nbsp;&nbsp;&nbsp;3507 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195094 |
| Envista Holdings Corp.\* | 26663 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;543125 |
| Globus Medical, Inc., Class A\* | &nbsp;&nbsp;&nbsp;9087 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520413 |
| Integer Holdings Corp.\* | &nbsp;&nbsp;&nbsp;5752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;594354 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1852986 |
| **Healthcare Services — 4.7%** | **Healthcare Services — 4.7%** | **Healthcare Services — 4.7%** |
| Encompass Health Corp. | &nbsp;&nbsp;&nbsp;5737 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;728714 |
| ICON PLC\* | &nbsp;&nbsp;&nbsp;3687 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;645225 |
| Tenet Healthcare Corp.\* | &nbsp;&nbsp;&nbsp;3853 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;782313 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2156252 |
| **Home Builders — 0.7%** | **Home Builders — 0.7%** | **Home Builders — 0.7%** |
| Taylor Morrison Home Corp.\* | &nbsp;&nbsp;4698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310115 |
| **Home Furnishings — 0.9%** | **Home Furnishings — 0.9%** | **Home Furnishings — 0.9%** |
| MillerKnoll, Inc. | &nbsp;&nbsp;23516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;417174 |
| **Household Products & Wares — 1.0%** | **Household Products & Wares — 1.0%** | **Household Products & Wares — 1.0%** |
| WD-40 Co. | &nbsp;&nbsp;&nbsp;2244 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;443414 |
| **Insurance — 3.1%** | **Insurance — 3.1%** | **Insurance — 3.1%** |
| American Financial Group, Inc. | &nbsp;&nbsp;&nbsp;4635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675412 |
| The Hanover Insurance Group, Inc. | &nbsp;&nbsp;&nbsp;4055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;736510 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1411922 |
| **Internet — 1.8%** | **Internet — 1.8%** | **Internet — 1.8%** |
| Criteo S.A., ADR\* | 15093 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;341102 |
| F5, Inc.\* | &nbsp;&nbsp;&nbsp;1486 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480260 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;821362 |
| **Investment Companies — 1.2%** | **Investment Companies — 1.2%** | **Investment Companies — 1.2%** |
| HA Sustainable Infrastructure Capital, Inc. | &nbsp;&nbsp;17803 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;546552 |
| **Iron & Steel — 1.6%** | **Iron & Steel — 1.6%** | **Iron & Steel — 1.6%** |
| Reliance, Inc. | &nbsp;&nbsp;&nbsp;2582 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725103 |
| **Leisure Time — 1.1%** | **Leisure Time — 1.1%** | **Leisure Time — 1.1%** |
| Brunswick Corp. | &nbsp;&nbsp;&nbsp;7959 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;503327 |
| **Machinery — Construction & Mining — 1.3%** | **Machinery — Construction & Mining — 1.3%** | **Machinery — Construction & Mining — 1.3%** |
| Oshkosh Corp. | &nbsp;&nbsp;&nbsp;4756 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;616853 |
| **Machinery — Diversified — 2.1%** | **Machinery — Diversified — 2.1%** | **Machinery — Diversified — 2.1%** |
| CNH Industrial N.V. | &nbsp;&nbsp;37323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;404954 |

---

------

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

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

#### SMID Cap Value Fund<br>

---

| | | |
|:---|:---|:---|
|  | **Number of<br> Shares** | &nbsp;&nbsp;**Value†** |
| **COMMON STOCKS — (continued)** | **COMMON STOCKS — (continued)** | **COMMON STOCKS — (continued)** |
| **Machinery — Diversified — (continued)** | **Machinery — Diversified — (continued)** | **Machinery — Diversified — (continued)** |
| Regal Rexnord Corp. | &nbsp;&nbsp;&nbsp;3981 | &nbsp;&nbsp;&nbsp;&nbsp;$571035 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;975989 |
| **Media — 1.3%** | **Media — 1.3%** | **Media — 1.3%** |
| Nexstar Media Group, Inc. | &nbsp;&nbsp;&nbsp;2981 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;589463 |
| **Miscellaneous Manufacturing — 1.2%** | **Miscellaneous Manufacturing — 1.2%** | **Miscellaneous Manufacturing — 1.2%** |
| JBT Marel Corp. | &nbsp;&nbsp;&nbsp;3769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;529356 |
| **Oil & Gas — 3.3%** | **Oil & Gas — 3.3%** | **Oil & Gas — 3.3%** |
| HF Sinclair Corp. | &nbsp;&nbsp;&nbsp;4483 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;234640 |
| Magnolia Oil & Gas Corp., Class A | 19359 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;462100 |
| Matador Resources Co. | &nbsp;&nbsp;10514 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;472394 |
| Northern Oil & Gas, Inc. | 12885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;319548 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1488682 |
| **Oil & Gas Services — 1.4%** | **Oil & Gas Services — 1.4%** | **Oil & Gas Services — 1.4%** |
| TechnipFMC PLC | &nbsp;&nbsp;16781 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;662010 |
| **Packaging and Containers — 2.2%** | **Packaging and Containers — 2.2%** | **Packaging and Containers — 2.2%** |
| Graphic Packaging Holding Co. | 29063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;568763 |
| O-I Glass, Inc.\* | 34418 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;446401 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1015164 |
| **Real Estate — 1.6%** | **Real Estate — 1.6%** | **Real Estate — 1.6%** |
| Jones Lang LaSalle, Inc.\* | &nbsp;&nbsp;&nbsp;2501 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;745998 |
| **Retail — 5.9%** | **Retail — 5.9%** | **Retail — 5.9%** |
| AutoNation, Inc.\* | &nbsp;&nbsp;&nbsp;1470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;321592 |
| Bath & Body Works, Inc. | 20563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;529703 |
| BJ's Wholesale Club Holdings, Inc.\* | &nbsp;&nbsp;&nbsp;7985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;744601 |
| Cracker Barrel Old Country Store, Inc. | &nbsp;&nbsp;&nbsp;5665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249600 |
| Dollar Tree, Inc.\* | &nbsp;&nbsp;&nbsp;5591 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;527623 |
| Group 1 Automotive, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;713 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;311944 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2685063 |
| **Savings & Loans — 0.6%** | **Savings & Loans — 0.6%** | **Savings & Loans — 0.6%** |
| Flagstar Financial, Inc. | 24340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;281127 |
| **Semiconductors — 2.8%** | **Semiconductors — 2.8%** | **Semiconductors — 2.8%** |
| FormFactor, Inc.\* | &nbsp;&nbsp;&nbsp;9838 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358300 |
| IPG Photonics Corp.\* | &nbsp;&nbsp;6508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;515368 |
| ON Semiconductor Corp.\* | &nbsp;&nbsp;&nbsp;8234 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;406019 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1279687 |
| **Software — 2.0%** | **Software — 2.0%** | **Software — 2.0%** |
| ACI Worldwide, Inc.\* | 10430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550391 |
| Nice Ltd., ADR\* | &nbsp;&nbsp;&nbsp;2520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;364846 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;915237 |
| **Telecommunications — 0.9%** | **Telecommunications — 0.9%** | **Telecommunications — 0.9%** |
| Calix, Inc.\* | &nbsp;&nbsp;&nbsp;6693 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;410749 |
| **Transportation — 4.5%** | **Transportation — 4.5%** | **Transportation — 4.5%** |
| ArcBest Corp. | &nbsp;&nbsp;&nbsp;6692 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;467570 |
| C.H. Robinson Worldwide, Inc. | &nbsp;&nbsp;4696 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;621751 |
| Kirby Corp.\* | &nbsp;&nbsp;&nbsp;6229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;519810 |
| Star Bulk Carriers Corp. | &nbsp;&nbsp;25314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470587 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2079718 |

---

---

| | | |
|:---|:---|:---|
|  | **Number of<br> Shares** | &nbsp;&nbsp;**Value†** |
| **Trucking and Leasing — 1.2%** | **Trucking and Leasing — 1.2%** | **Trucking and Leasing — 1.2%** |
| GATX Corp. | &nbsp;&nbsp;&nbsp;3042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$531742 |
| **TOTAL COMMON STOCKS<br> (Cost $39,794,216)** | **TOTAL COMMON STOCKS<br> (Cost $39,794,216)** | &nbsp;&nbsp;&nbsp;**42528013** |
| **REAL ESTATE INVESTMENT TRUSTS — 6.6%** | **REAL ESTATE INVESTMENT TRUSTS — 6.6%** | **REAL ESTATE INVESTMENT TRUSTS — 6.6%** |
| **Apartments — 1.1%** | **Apartments — 1.1%** | **Apartments — 1.1%** |
| Independence Realty Trust, Inc. | 30700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;503173 |
| **Diversified — 0.6%** | **Diversified — 0.6%** | **Diversified — 0.6%** |
| Broadstone Net Lease, Inc. | 16099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;287689 |
| **Healthcare — 1.4%** | **Healthcare — 1.4%** | **Healthcare — 1.4%** |
| American Healthcare REIT, Inc. | 14760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;620068 |
| **Hotels & Resorts — 0.6%** | **Hotels & Resorts — 0.6%** | **Hotels & Resorts — 0.6%** |
| Ryman Hospitality Properties, Inc. | &nbsp;&nbsp;&nbsp;2982 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;267158 |
| **Industrial — 0.9%** | **Industrial — 0.9%** | **Industrial — 0.9%** |
| STAG lndustrial, Inc. | 12097 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;426903 |
| **Office Property — 1.4%** | **Office Property — 1.4%** | **Office Property — 1.4%** |
| COPT Defense Properties | &nbsp;&nbsp;21238 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;617176 |
| **Storage & Warehousing — 0.6%** | **Storage & Warehousing — 0.6%** | **Storage & Warehousing — 0.6%** |
| CubeSmart | &nbsp;&nbsp;&nbsp;6750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;274455 |
| **TOTAL REAL ESTATE INVESTMENT TRUSTS<br> (Cost $3,011,020)** |  | &nbsp;&nbsp;&nbsp;&nbsp;**2996622** |

---

**SHORT-TERM INVESTMENTS — 0.7%**

---

| | | |
|:---|:---|:---|
| BlackRock Liquidity FedFund - Institutional Shares (seven-day effective yield 4.027%)<br> **(Cost $340,584)** | 340584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**340584** |
| **TOTAL INVESTMENTS — 100.1%<br> (Cost $43,145,820)** |  | &nbsp;&nbsp;**$45865219** |
| **Other Assets & Liabilities — (0.1)%** | **Other Assets & Liabilities — (0.1)%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(45607)** |
| **TOTAL NET ASSETS — 100.0%** |  | &nbsp;&nbsp;**$45819612** |

---

------

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

---

| |
|:---|
| ADR— American Depositary Receipt. |
| N.V.— Naamloze Vennootschap. |
| PLC— Public Limited Company. |
| REIT— Real Estate Investment Trust. |
| S.A.— Societe Anonyme. |

---

------

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

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

#### SMID Cap Value Fund<br>

---

| | |
|:---|:---|
| **Country Weightings as of 9/30/2025††** | **Country Weightings as of 9/30/2025††** |
| United States | &nbsp;&nbsp;&nbsp;90% |
| United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;5 |
| Ireland | &nbsp;&nbsp;&nbsp;&nbsp;1 |
| Greece | &nbsp;&nbsp;&nbsp;&nbsp;1 |
| Puerto Rico | &nbsp;&nbsp;&nbsp;&nbsp;1 |
| Israel | &nbsp;&nbsp;&nbsp;&nbsp;1 |
| France | &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 SMID Cap Value Fund

- **b. EDGAR series identifier (if any):** S000022080

- **c. LEI of Series:** D3ZVMHV52Z0PYV1PDK09

**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:** $45974476.15

**Total Liabilities:** $134478.85

**Net Assets:** $45839997.30

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000063371 | 1.68%                | 4.27%                | -1.86%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $650174.71               | $137588.04                                 |
| Month 2  | $351782.85               | $1602063.53                                |
| Month 3  | $435096.33               | $-1339780.12                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Globus Medical Inc             | Globus Medical Inc                        | CUSIP: 379577208<br>LEI: 5299003M2P4CIK0RF205 | Long             | EC               | CORP              | US        |      9087 | NS      | $520412.49    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Group 1 Automotive Inc         | Group 1 Automotive Inc                    | CUSIP: 398905109<br>LEI: 549300US8QAZJLWYAF63 | Long             | EC               | CORP              | US        |       713 | NS      | $311944.63    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Oshkosh Corp                   | Oshkosh Corp                              | CUSIP: 688239201<br>LEI: 549300FEKNPCFSA2B506 | Long             | EC               | CORP              | US        |      4756 | NS      | $616853.20    | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Chesapeake Utilities Corp      | Chesapeake Utilities Corp                 | CUSIP: 165303108<br>LEI: 254900WW0FDCKAOCKE74 | Long             | EC               | CORP              | US        |      2049 | NS      | $275979.81    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| CH Robinson Worldwide Inc      | CH Robinson Worldwide Inc                 | CUSIP: 12541W209<br>LEI: 529900WNWN5L0OVDHA79 | Long             | EC               | CORP              | US        |      4696 | NS      | $621750.40    | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| RPM International Inc          | RPM International Inc                     | CUSIP: 749685103<br>LEI: 549300TJCKW4BRXPJ474 | Long             | EC               | CORP              | US        |      5601 | NS      | $660245.88    | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| IDACORP Inc                    | IDACORP Inc                               | CUSIP: 451107106<br>LEI: N134NUJDWN8UEFA8B673 | Long             | EC               | CORP              | US        |      5958 | NS      | $787349.70    | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| CubeSmart                      | CubeSmart                                 | CUSIP: 229663109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6750 | NS      | $274455.00    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Magnolia Oil & Gas Corp        | Magnolia Oil & Gas Corp                   | CUSIP: 559663109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     19359 | NS      | $462099.33    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| First Advantage Corp           | First Advantage Corp                      | CUSIP: 31846B108<br>LEI: 549300RNJ0PXU8FP7D06 | Long             | EC               | CORP              | US        |     29029 | NS      | $446756.31    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadstone Net Lease Inc       | Broadstone Net Lease Inc                  | CUSIP: 11135E203<br>LEI: 549300U8D7PT70B49V21 | Long             | EC               | CORP              | US        |     16099 | NS      | $287689.13    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Avnet Inc                      | Avnet Inc                                 | CUSIP: 053807103<br>LEI: XJI53DCPL7QABOWK4Z75 | Long             | EC               | CORP              | US        |      7335 | NS      | $383473.80    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| IPG Photonics Corp             | IPG Photonics Corp                        | CUSIP: 44980X109<br>LEI: 5493002KZ51CADQ94G15 | Long             | EC               | CORP              | US        |      6508 | NS      | $515368.52    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Kirby Corp                     | Kirby Corp                                | CUSIP: 497266106<br>LEI: I7NO6FZO5GUCG585T325 | Long             | EC               | CORP              | US        |      6229 | NS      | $519810.05    | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Laureate Education Inc         | Laureate Education Inc                    | CUSIP: 518613203<br>LEI: 5JL7TMOH5TY3IUYSUP91 | Long             | EC               | CORP              | US        |     23653 | NS      | $746015.62    | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock Liquidity FedFund    | BlackRock Liquidity FedFund               | CUSIP: 09248U700<br>LEI: 549300T8K043VZEOVK74 | Long             | STIV             | RF                | US        |    386016 | NS      | $386016.11    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| ACI Worldwide Inc              | ACI Worldwide Inc                         | CUSIP: 004498101<br>LEI: 5493003BPVMZUJ6F5C02 | Long             | EC               | CORP              | US        |     10430 | NS      | $550391.10    | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Pentair PLC                    | Pentair PLC                               | CUSIP: 000000000<br>LEI: 549300EVR9D56WPSRP15 | Long             | EC               | CORP              | GB        |      5973 | NS      | $661569.48    | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| ICON PLC                       | ICON PLC                                  | CUSIP: 000000000<br>LEI: 6354008SRQGEMC4XFI67 | Long             | EC               | CORP              | IE        |      3687 | NS      | $645225.00    | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| STAG Industrial Inc            | STAG Industrial Inc                       | CUSIP: 85254J102<br>LEI: 549300QWYX2W6FASVQ07 | Long             | EC               | CORP              | US        |     12097 | NS      | $426903.13    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Bath & Body Works Inc          | Bath & Body Works Inc                     | CUSIP: 070830104<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | EC               | CORP              | US        |     20563 | NS      | $529702.88    | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Tenet Healthcare Corp          | Tenet Healthcare Corp                     | CUSIP: 88033G407<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | EC               | CORP              | US        |      3853 | NS      | $782313.12    | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Cboe Global Markets Inc        | Cboe Global Markets Inc                   | CUSIP: 12503M108<br>LEI: 529900RLNSGA90UPEH54 | Long             | EC               | CORP              | US        |      1055 | NS      | $258738.75    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| MillerKnoll Inc                | MillerKnoll Inc                           | CUSIP: 600544100<br>LEI: U98HXD3PNK7HYU2MU887 | Long             | EC               | CORP              | US        |     23516 | NS      | $417173.84    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| GXO Logistics Inc              | GXO Logistics Inc                         | CUSIP: 36262G101<br>LEI: 5493007CNWMXN78JRN66 | Long             | EC               | CORP              | US        |     10576 | NS      | $559364.64    | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Nomad Foods Ltd                | Nomad Foods Ltd                           | CUSIP: 000000000<br>LEI: 5493000ZZ1837DS2SI43 | Long             | EC               | CORP              | GB        |     33192 | NS      | $436474.80    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| American Financial Group Inc/O | American Financial Group Inc/OH           | CUSIP: 025932104<br>LEI: 549300AFOM7IVKIU1G39 | Long             | EC               | CORP              | US        |      4635 | NS      | $675412.20    | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Gibraltar Industries Inc       | Gibraltar Industries Inc                  | CUSIP: 374689107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1950 | NS      | $122460.00    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Nexstar Media Group Inc        | Nexstar Media Group Inc                   | CUSIP: 65336K103<br>LEI: 52990083ZRR5UT591988 | Long             | EC               | CORP              | US        |      2981 | NS      | $589462.94    | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Integer Holdings Corp          | Integer Holdings Corp                     | CUSIP: 45826H109<br>LEI: 549300SUD2ED5XG6X569 | Long             | EC               | CORP              | US        |      5752 | NS      | $594354.16    | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| American Healthcare REIT Inc   | American Healthcare REIT Inc              | CUSIP: 398182303<br>LEI: 2549004GGE2APGNT6O92 | Long             | EC               | CORP              | US        |     14760 | NS      | $620067.60    | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Calix Inc                      | Calix Inc                                 | CUSIP: 13100M509<br>LEI: 5299002RQRZ4SXSCSJ58 | Long             | EC               | CORP              | US        |      6693 | NS      | $410749.41    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Comerica Inc                   | Comerica Inc                              | CUSIP: 200340107<br>LEI: I9Q57JVPWHHZ3ZGBW498 | Long             | EC               | CORP              | US        |      5742 | NS      | $393441.84    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| First Hawaiian Inc             | First Hawaiian Inc                        | CUSIP: 32051X108<br>LEI: 5493002DJSH46F5OLV06 | Long             | EC               | CORP              | US        |     14477 | NS      | $359463.91    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Crane NXT Co                   | Crane NXT Co                              | CUSIP: 224441105<br>LEI: 549300EXNPSXEWUD3N21 | Long             | EC               | CORP              | US        |      7734 | NS      | $518719.38    | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Stifel Financial Corp          | Stifel Financial Corp                     | CUSIP: 860630102<br>LEI: 549300E5F07FE5GHJX84 | Long             | EC               | CORP              | US        |      3912 | NS      | $443894.64    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| AutoNation Inc                 | AutoNation Inc                            | CUSIP: 05329W102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1496 | NS      | $327279.92    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Fluor Corp                     | Fluor Corp                                | CUSIP: 343412102<br>LEI: CQ7WZ4NOFWT7FAE6Q943 | Long             | EC               | CORP              | US        |     13347 | NS      | $561508.29    | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Criteo SA                      | Criteo SA                                 | CUSIP: 226718104<br>LEI: 969500EELFB4RDMFHA76 | Long             | EC               | CORP              | FR        |     15093 | NS      | $341101.80    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Encompass Health Corp          | Encompass Health Corp                     | CUSIP: 29261A100<br>LEI: 549300FVRPM9DRQZRG64 | Long             | EC               | CORP              | US        |      5737 | NS      | $728713.74    | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| JBT Marel Corp                 | JBT Marel Corp                            | CUSIP: 477839104<br>LEI: 5493007CT6ATBZ2L6826 | Long             | EC               | CORP              | US        |      3769 | NS      | $529356.05    | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| UMB Financial Corp             | UMB Financial Corp                        | CUSIP: 902788108<br>LEI: 549300MGEH3N3CUCV828 | Long             | EC               | CORP              | US        |      5255 | NS      | $621929.25    | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Star Bulk Carriers Corp        | Star Bulk Carriers Corp                   | CUSIP: 000000000<br>LEI: 549300SO3FMK7H6DDY54 | Long             | EC               | CORP              | GR        |     25314 | NS      | $470587.26    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Graphic Packaging Holding Co   | Graphic Packaging Holding Co              | CUSIP: 388689101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     29063 | NS      | $568762.91    | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Lumentum Holdings Inc          | Lumentum Holdings Inc                     | CUSIP: 55024U109<br>LEI: 549300JLWRRC38DWEF52 | Long             | EC               | CORP              | US        |      3207 | NS      | $521810.97    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| GATX Corp                      | GATX Corp                                 | CUSIP: 361448103<br>LEI: 549300IHYHCQP2PIR591 | Long             | EC               | CORP              | US        |      3042 | NS      | $531741.60    | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Nice Ltd                       | Nice Ltd                                  | CUSIP: 653656108<br>LEI: 254900YTY4EF5Z4W0A51 | Long             | EC               | CORP              | IL        |      2520 | NS      | $364845.60    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| NCR Atleos Corp                | NCR Atleos Corp                           | CUSIP: 63001N106<br>LEI: 9845005FC3S0VA714741 | Long             | EC               | CORP              | US        |     15119 | NS      | $594327.89    | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| WillScot Holdings Corp         | WillScot Holdings Corp                    | CUSIP: 971378104<br>LEI: 549300HJ4VIXF476Q166 | Long             | EC               | CORP              | US        |     15995 | NS      | $337654.45    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| FormFactor Inc                 | FormFactor Inc                            | CUSIP: 346375108<br>LEI: 549300YCEEO6SZD1ZR61 | Long             | EC               | CORP              | US        |      9838 | NS      | $358299.96    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryman Hospitality Properties I | Ryman Hospitality Properties Inc          | CUSIP: 78377T107<br>LEI: 529900GCCWW9SRMPJR11 | Long             | EC               | CORP              | US        |      3323 | NS      | $297707.57    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| WD-40 Co                       | WD-40 Co                                  | CUSIP: 929236107<br>LEI: 549300UZHTN0CNKBOB19 | Long             | EC               | CORP              | US        |      2244 | NS      | $443414.40    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Taylor Morrison Home Corp      | Taylor Morrison Home Corp                 | CUSIP: 87724P106<br>LEI: 5299009UDLLGLKOOJE30 | Long             | EC               | CORP              | US        |      4698 | NS      | $310114.98    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Brunswick Corp/DE              | Brunswick Corp/DE                         | CUSIP: 117043109<br>LEI: YM4O38W15AX4YLLQKU27 | Long             | EC               | CORP              | US        |      7959 | NS      | $503327.16    | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Ltd                    | Invesco Ltd                               | CUSIP: 000000000<br>LEI: ECPGFXU8A2SHKVVGJI15 | Long             | EC               | CORP              | US        |     26353 | NS      | $604537.82    | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| ADT Inc                        | ADT Inc                                   | CUSIP: 00090Q103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     70127 | NS      | $610806.17    | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Hexcel Corp                    | Hexcel Corp                               | CUSIP: 428291108<br>LEI: S6Q7LW43WUBUHXY2QP69 | Long             | EC               | CORP              | US        |      8624 | NS      | $540724.80    | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Flagstar Financial Inc         | Flagstar Financial Inc                    | CUSIP: 649445400<br>LEI: 529900HVXOTLY61GL030 | Long             | EC               | CORP              | US        |     24340 | NS      | $281127.00    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Wintrust Financial Corp        | Wintrust Financial Corp                   | CUSIP: 97650W108<br>LEI: Q774KI4AW80FHFW33O61 | Long             | EC               | CORP              | US        |      3688 | NS      | $488438.72    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Core & Main Inc                | Core & Main Inc                           | CUSIP: 21874C102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9513 | NS      | $512084.79    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| TD SYNNEX Corp                 | TD SYNNEX Corp                            | CUSIP: 87162W100<br>LEI: 5493004HI6PFLF46NS53 | Long             | EC               | CORP              | US        |      3593 | NS      | $588353.75    | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Cracker Barrel Old Country Sto | Cracker Barrel Old Country Store Inc      | CUSIP: 22410J106<br>LEI: 8P4PHQIUWPIECBFBW745 | Long             | EC               | CORP              | US        |      5665 | NS      | $249599.90    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| ArcBest Corp                   | ArcBest Corp                              | CUSIP: 03937C105<br>LEI: 5493006S3KBNE8ZS3J23 | Long             | EC               | CORP              | US        |      6692 | NS      | $467570.04    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Herc Holdings Inc              | Herc Holdings Inc                         | CUSIP: 42704L104<br>LEI: 549300TP80QLITMSBP82 | Long             | EC               | CORP              | US        |      2150 | NS      | $250819.00    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| First BanCorp/Puerto Rico      | First BanCorp/Puerto Rico                 | CUSIP: 318672706<br>LEI: N/A                  | Long             | EC               | CORP              | PR        |     18234 | NS      | $402059.70    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Capital Bancshares Inc   | Texas Capital Bancshares Inc              | CUSIP: 88224Q107<br>LEI: 549300466Q2SXRX0YM48 | Long             | EC               | CORP              | US        |      4400 | NS      | $371932.00    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| HF Sinclair Corp               | HF Sinclair Corp                          | CUSIP: 403949100<br>LEI: 2549009G116AM01XHN24 | Long             | EC               | CORP              | US        |      4483 | NS      | $234640.22    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| ONE Gas Inc                    | ONE Gas Inc                               | CUSIP: 68235P108<br>LEI: 549300HXDWI0LATTX840 | Long             | EC               | CORP              | US        |      6107 | NS      | $494300.58    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Reliance Inc                   | Reliance Inc                              | CUSIP: 759509102<br>LEI: 549300E287ZOFT3C5Z56 | Long             | EC               | CORP              | US        |      2582 | NS      | $725103.06    | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| ON Semiconductor Corp          | ON Semiconductor Corp                     | CUSIP: 682189105<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | EC               | CORP              | US        |      8234 | NS      | $406018.54    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| HA Sustainable Infrastructure  | HA Sustainable Infrastructure Capital Inc | CUSIP: 41068X100<br>LEI: 254900ZZRL7MWL1X8E92 | Long             | EC               | CORP              | US        |     17803 | NS      | $546552.10    | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Walker & Dunlop Inc            | Walker & Dunlop Inc                       | CUSIP: 93148P102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4958 | NS      | $414587.96    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| BJ's Wholesale Club Holdings I | BJ's Wholesale Club Holdings Inc          | CUSIP: 05550J101<br>LEI: 549300UCIWH1C93V0J03 | Long             | EC               | CORP              | US        |      7985 | NS      | $744601.25    | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Dollar Tree Inc                | Dollar Tree Inc                           | CUSIP: 256746108<br>LEI: 549300PMSTQITB1WHR43 | Long             | EC               | CORP              | US        |      5591 | NS      | $527622.67    | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| First Citizens BancShares Inc/ | First Citizens BancShares Inc/NC          | CUSIP: 31946M103<br>LEI: 549300N3Z00ZHE2XC526 | Long             | EC               | CORP              | US        |       334 | NS      | $597579.44    | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Northern Oil & Gas Inc         | Northern Oil & Gas Inc                    | CUSIP: 665531307<br>LEI: OKFF0PIZDDMNH4UCYE51 | Long             | EC               | CORP              | US        |     12885 | NS      | $319548.00    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Bio-Techne Corp                | Bio-Techne Corp                           | CUSIP: 09073M104<br>LEI: 54930073RLKQ51TILZ35 | Long             | EC               | CORP              | US        |      2949 | NS      | $164052.87    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Jones Lang LaSalle Inc         | Jones Lang LaSalle Inc                    | CUSIP: 48020Q107<br>LEI: 6SYKCME112RT8TQUO411 | Long             | EC               | CORP              | US        |      2501 | NS      | $745998.28    | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| O-I Glass Inc                  | O-I Glass Inc                             | CUSIP: 67098H104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     34418 | NS      | $446401.46    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| CACI International Inc         | CACI International Inc                    | CUSIP: 127190304<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | EC               | CORP              | US        |      1307 | NS      | $651905.46    | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| F5 Inc                         | F5 Inc                                    | CUSIP: 315616102<br>LEI: 54930015FPK9KT966303 | Long             | EC               | CORP              | US        |      1486 | NS      | $480260.34    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Matador Resources Co           | Matador Resources Co                      | CUSIP: 576485205<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | EC               | CORP              | US        |     10514 | NS      | $472394.02    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Webster Financial Corp         | Webster Financial Corp                    | CUSIP: 947890109<br>LEI: KMRURHT0VWKYS6Z5KU67 | Long             | EC               | CORP              | US        |      7405 | NS      | $440153.20    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Independent Bank Corp          | Independent Bank Corp                     | CUSIP: 453836108<br>LEI: 549300C5K3W8THR3GE10 | Long             | EC               | CORP              | US        |      6766 | NS      | $468004.22    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| COPT Defense Properties        | COPT Defense Properties                   | CUSIP: 22002T108<br>LEI: YY1J47X6LF9TYY8JY420 | Long             | EC               | CORP              | US        |     21238 | NS      | $617176.28    | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| CNH Industrial NV              | CNH Industrial NV                         | CUSIP: 000000000<br>LEI: 549300WGC2HZ5J67V817 | Long             | EC               | CORP              | GB        |     37323 | NS      | $404954.55    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Globant SA                     | Globant SA                                | CUSIP: 000000000<br>LEI: 2221008DCMSPYS42DS88 | Long             | EC               | CORP              | LU        |      4921 | NS      | $282366.98    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| BorgWarner Inc                 | BorgWarner Inc                            | CUSIP: 099724106<br>LEI: 549300DSFX2IE88NSX47 | Long             | EC               | CORP              | US        |     14959 | NS      | $657597.64    | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Envista Holdings Corp          | Envista Holdings Corp                     | CUSIP: 29415F104<br>LEI: 549300BX623VURJZ5269 | Long             | EC               | CORP              | US        |     26663 | NS      | $543125.31    | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Avient Corp                    | Avient Corp                               | CUSIP: 05368V106<br>LEI: SM8L9RZYIB34LNTWO040 | Long             | EC               | CORP              | US        |     13979 | NS      | $460608.05    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Hanover Insurance Group Inc/Th | Hanover Insurance Group Inc/The           | CUSIP: 410867105<br>LEI: JJYR6MFKFF6CF8DBZ078 | Long             | EC               | CORP              | US        |      4055 | NS      | $736509.65    | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Regal Rexnord Corp             | Regal Rexnord Corp                        | CUSIP: 758750103<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | EC               | CORP              | US        |      3981 | NS      | $571034.64    | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Independence Realty Trust Inc  | Independence Realty Trust Inc             | CUSIP: 45378A106<br>LEI: 549300Z3L8NU44NQEB29 | Long             | EC               | CORP              | US        |     30700 | NS      | $503173.00    | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| TechnipFMC PLC                 | TechnipFMC PLC                            | CUSIP: 000000000<br>LEI: 549300D5I93QWCJTCK36 | Long             | EC               | CORP              | GB        |     16781 | NS      | $662010.45    | 1.44%             |  |  |  | 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