# EDGAR Filing Document

**Accession Number:** 0000702340
**File Stem:** 0001193125-26-130526
**Filing Date:** 2026-3
**Character Count:** 9056
**Document Hash:** f3e8ae0356e19dffb447cc2a1f04fe00
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-130526.hdr.sgml**: 20260330

**ACCESSION NUMBER**: 0001193125-26-130526

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20260330

**DATE AS OF CHANGE**: 20260330

**EFFECTIVENESS DATE**: 20260330

**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:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 002-77284
- **FILM NUMBER:** 26810333

**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

### Aggressive Allocation Fund (Series ID: S000022076)

---

|  |  |
|:---|:---|
| Class Name                 | Class ID   |
| Aggressive Allocation Fund | C000063367 |

---

### Moderately Conservative Allocation Fund (Series ID: S000022077)

---

|  |  |
|:---|:---|
| Class Name                              | Class ID   |
| Moderately Conservative Allocation Fund | C000063368 |

---

### Balanced Fund (Series ID: S000022081)

---

|  |  |
|:---|:---|
| Class Name    | Class ID   |
| Balanced Fund | C000063372 |

---

### Conservative Allocation Fund (Series ID: S000022082)

---

|  |  |
|:---|:---|
| Class Name                   | Class ID   |
| Conservative Allocation Fund | C000063373 |

---

### Moderate Allocation Fund (Series ID: S000022087)

---

|  |  |
|:---|:---|
| Class Name               | Class ID   |
| Moderate Allocation Fund | C000063378 |

---

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

---

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

---

## Series and Classes Contracts Data

### Aggressive Allocation Fund (Series ID: S000022076)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000063367 | Aggressive Allocation Fund |  |

### Moderately Conservative Allocation Fund (Series ID: S000022077)

| Class ID   | Class Name                              | Ticker Symbol   |
|:---|:---|:---|
| C000063368 | Moderately Conservative Allocation Fund |  |

### Balanced Fund (Series ID: S000022081)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000063372 | Balanced Fund |  |

### Conservative Allocation Fund (Series ID: S000022082)

| Class ID   | Class Name                   | Ticker Symbol   |
|:---|:---|:---|
| C000063373 | Conservative Allocation Fund |  |

### Moderate Allocation Fund (Series ID: S000022087)

| Class ID   | Class Name               | Ticker Symbol   |
|:---|:---|:---|
| C000063378 | Moderate Allocation Fund |  |

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

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

**PENN SERIES FUNDS, INC.** 

**Supplement dated March 30, 2026** 

**to the Prospectus dated May 1, 2025, as supplemented** 

**This supplement provides new and additional information beyond that contained in the Prospectus and should be read in conjunction with the Prospectus.**

**Balanced Fund and each of the Aggressive Allocation Fund, Moderately Aggressive Allocation Fund, Moderate Allocation Fund, Moderately Conservative Allocation Fund and Conservative Allocation Fund (collectively, the "LifeStyle Funds" and together with the Balanced Fund, the "Funds")** 

Effective March 30, 2026, Hong Mu no longer serves as a portfolio manager of the Funds. In addition, John Swarr and Jennifer Ripper have joined Scott Ellis as portfolio managers for the Funds.

As a result of the foregoing, effective immediately, the information in the Prospectus under the heading entitled "Portfolio Managers" in each Fund's "Fund Summary" section is replaced in its entirety by the following:

**Portfolio Managers** 

The individual members of the team jointly and primarily responsible for the day-to-day management of the Fund's portfolio are described below.

Scott Ellis, CFA, Managing Director, Corporate Credit and Portfolio Manager of PMAM, has served as portfolio manager of the Fund since January 2025.

Jennifer Ripper, Portfolio Manager of PMAM, has served as portfolio manager of the Fund since March 2026.

John Swarr, CFA, Portfolio Manager of PMAM, has served as portfolio manager of the Fund since March 2026.

In addition, Hong Mu's biography is deleted under the heading "Management – Investment Adviser – Penn Mutual Asset Management, LLC." in the Prospectus, and Scott Ellis', Jennifer Ripper's and John Swarr's biographies are hereby replaced with the following:

Scott Ellis, CFA, Managing Director, Corporate Credit and Portfolio Manager of PMAM, has served as co-portfolio manager for the High Yield Bond Fund since June 2021, and the Limited Maturity Bond, Quality Bond, Balanced and Lifestyle Funds since January 2025. Mr. Ellis previously served as an investment specialist for PMAM from 2016 to 2020. Prior to his tenure with PMAM, Mr. Ellis worked for eight years as an investment manager and credit analyst for Aberdeen Asset Management.

Jennifer Ripper, Portfolio Manager of PMAM, has served as co-portfolio manager for the Money Market Fund since August 2024, the Limited Maturity Bond Fund since October 2025, and the Balanced and Lifestyle Funds since March 2026. Ms. Ripper previously served as an investment specialist for PMAM from 2014 to 2024. Prior to joining PMAM as an investment specialist in 2014, Ms. Ripper was a senior analyst for The Kroll Bond Rating Agency. From 2005 to 2013, Jennifer worked at Penn Mutual as director and portfolio manager of structured and municipal securities.

John Swarr, CFA, Portfolio Manager of PMAM, has served as co-portfolio manager for the Money Market and Quality Bond Funds since October 2025, and the Balanced and Lifestyle Funds since March 2026. Mr. Swarr previously served as an investment specialist for PMAM from 2015 to 2025 and an ALM analyst for Penn Mutual from June 2014 to December 2014. Prior to his tenure with PMAM, Mr. Swarr was an actuarial analyst at Penn Mutual from 2012 to 2014.

The changes described above will not result in any change to the investment process for the Funds or to the other disclosures concerning the Funds, including fees, expenses, investment objectives, strategies and risks.

**PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE.** 

PM9257 03/26

------

**PENN SERIES FUNDS, INC.** 

**Supplement dated March 30, 2026** 

**to the Statement of Additional Information ("SAI") dated May 1, 2025,** 

**as supplemented** 

**This supplement provides new and additional information beyond that contained in the SAI and should be read in conjunction with the SAI.**

**Balanced Fund and each of the Aggressive Allocation Fund, Moderately Aggressive Allocation Fund, Moderate Allocation Fund, Moderately Conservative Allocation Fund and Conservative Allocation Fund (collectively, the "LifeStyle Funds" and together with the Balanced Fund, the "Funds")** 

Effective March 30, 2026, Hong Mu no longer serves as a portfolio manager of the Funds. In addition, John Swarr and Jennifer Ripper have joined Scott Ellis as portfolio managers for the Funds.

As a result of the foregoing, effective immediately, the sentence in the paragraph entitled "Fund Shares Owned by Portfolio Managers" under the section "General Information – Portfolio Managers – Penn Mutual Asset Management, LLC" is hereby deleted and replaced with the following:

The portfolio managers did not beneficially own any shares of the Funds as of December 31, 2025.

Additionally, in the same section of the SAI, the following information for Ms. Ripper and Mr. Swarr is added to the "Other Accounts" chart:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Registered<br>Investment Companies** | **Registered<br>Investment Companies** | **Other Pooled<br>Investment Vehicles** | **Other Pooled<br>Investment Vehicles** | **Other Accounts** | **Other Accounts** |
|  | **Number of<br>Accounts** | **Total Assets<br>(in millions)** | **Number of<br>Accounts** | **Total Assets<br>(in millions)** | **Number of<br>Accounts** | **Total Assets<br>(in millions)** |
|  Jennifer Ripper<sup>\*</sup>  | 0 | $0 | 0 | $0 | 6 | $33011.3 |
|  John Swarr<sup>\*</sup>  | 0 | $0 | 0 | $0 | 6 | $33011.3 |

---

\* The information for Ms. Ripper and Mr. Swarr is provided as of December 31, 2025.

The changes described above will not result in any changes to the investment process for the Funds or to the other disclosures concerning the Funds, including fees.

**PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE.** 

PM9258 03/26