# EDGAR Filing Document

**Accession Number:** 0000702340
**File Stem:** 0000940400-25-009793
**Filing Date:** 2025-11
**Character Count:** 83992
**Document Hash:** c66d41235aa3f56bbc5bdeb0a1c763e5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-009793.hdr.sgml**: 20251124

**ACCESSION NUMBER**: 0000940400-25-009793

**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:** 251513154

**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

### Quality Bond Fund (Series ID: S000006730)

| Class ID   | Class Name        | Ticker Symbol   |
|:---|:---|:---|
| C000018293 | Quality Bond Fund |  |

## Nport-Ex

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

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

#### Quality Bond Fund<br>

---

| | | |
|:---|:---|:---|
|  | **Par<br> (000)** | &nbsp;&nbsp;**Value†** |
| **ASSET BACKED SECURITIES — 8.5%** | **ASSET BACKED SECURITIES — 8.5%** | **ASSET BACKED SECURITIES — 8.5%** |
| Apex Credit CLO Ltd., Series 2024-1A Class B1 (3 M SOFR + 2.400%, Floor 2.400%), 144A<br> 6.725%, 04/20/36@,• | $1000 | &nbsp;&nbsp;&nbsp;$1002388 |
| First Eagle BSL CLO Ltd., Series 2019-1A Class B (3 M SOFR + 3.512%, Floor 3.250%), 144A<br> 7.837%, 01/20/33@,• | &nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4010788 |
| Granite Edvance Corp., Series 2020-1 Class A1A,<br> 1.550%, 09/25/60 | &nbsp;&nbsp;&nbsp;&nbsp;1743 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1603743 |
| ICG US CLO Ltd., Series 2015-2RA Class BR (3 M SOFR + 1.750%, Floor 1.750%), 144A<br> 6.068%, 01/16/33@,• | &nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2002102 |
| Navient Private Education Refi Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-EA Class B, 144A<br> 3.390%, 05/15/68@ | &nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2845471 |
| &nbsp;&nbsp;&nbsp;Series 2019-FA Class B, 144A<br> 3.120%, 08/15/68@ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;760238 |
| &nbsp;&nbsp;&nbsp;Series 2021-EA Class A, 144A<br> 0.970%, 12/16/69@ | &nbsp;&nbsp;&nbsp;&nbsp;1515 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1365625 |
| Navient Student Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;Series 2018-EA Class A2, 144A<br> 4.000%, 12/15/59@ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;452 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;451936 |
| &nbsp;&nbsp;&nbsp;Series 2023-BA Class A1A, 144A<br> 6.480%, 03/15/72@ | &nbsp;&nbsp;&nbsp;&nbsp;1415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1453987 |
| Nelnet Student Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;Series 2004-4 Class B (90 Day Average SOFR + 0.562%),<br> 4.902%, 01/25/41• | &nbsp;&nbsp;&nbsp;2285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2249621 |
| &nbsp;&nbsp;&nbsp;Series 2021-CA Class B, 144A<br> 2.530%, 04/20/62@ | &nbsp;&nbsp;&nbsp;3500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3078892 |
| SLM Student Loan Trust, Series 2014-2 Class A3 (30 Day Average SOFR + 0.704%),<br> 5.061%, 03/25/55• | &nbsp;&nbsp;&nbsp;&nbsp;2277 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2257497 |
| SMB Private Education Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;Series 2014-A Class B, 144A<br> 4.000%, 09/15/42@ | &nbsp;&nbsp;&nbsp;&nbsp;1494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1484172 |
| &nbsp;&nbsp;&nbsp;Series 2015-C Class B, 144A<br> 3.500%, 09/15/43@ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;649 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;646975 |
| Taco Bell Funding LLC, Series 2025-1A Class A2II, 144A<br> 5.049%, 08/25/55@ | &nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3007586 |
| Trysail CLO Ltd., Series 2022-1A Class B (3 M SOFR + 1.850%, Floor 1.850%), 144A<br> 6.175%, 10/20/33@,• | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500582 |
| **TOTAL ASSET BACKED SECURITIES<br> (Cost $29,500,296)** | **TOTAL ASSET BACKED SECURITIES<br> (Cost $29,500,296)** | &nbsp;&nbsp;&nbsp;**29721603** |
| **COMMERCIAL MORTGAGE BACKED SECURITIES — 13.7%** | **COMMERCIAL MORTGAGE BACKED SECURITIES — 13.7%** | **COMMERCIAL MORTGAGE BACKED SECURITIES — 13.7%** |
| BANK, Series 2021-BN37 Class AS,<br> 2.851%, 11/15/64• | &nbsp;&nbsp;&nbsp;&nbsp;1650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1447012 |

---

---

| | | |
|:---|:---|:---|
|  | **Par<br> (000)** | &nbsp;&nbsp;**Value†** |
| BANK5, Series 2024-5YR5 Class C,<br> 7.245%, 02/15/29• | $2550 | &nbsp;&nbsp;&nbsp;$2617243 |
| Benchmark Mortgage Trust, Series 2019-B9 Class A5,<br> 4.016%, 03/15/52 | &nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4904529 |
| FREMF Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-K735 Class B, 144A<br> 4.163%, 05/25/26@,• | &nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5957406 |
| &nbsp;&nbsp;&nbsp;Series 2019-K736 Class B, 144A<br> 3.864%, 07/25/26@,• | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1487373 |
| &nbsp;&nbsp;&nbsp;Series 2018-K82 Class C, 144A<br> 4.270%, 09/25/28@,• | &nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2954875 |
| &nbsp;&nbsp;&nbsp;Series 2016-K52 Class B, 144A<br> 4.145%, 01/25/49@,• | &nbsp;&nbsp;&nbsp;5065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5045993 |
| &nbsp;&nbsp;&nbsp;Series 2016-K53 Class C, 144A<br> 4.183%, 03/25/49@,• | &nbsp;&nbsp;&nbsp;&nbsp;3525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3509626 |
| &nbsp;&nbsp;&nbsp;Series 2017-K70 Class C, 144A<br> 3.942%, 12/25/49@,• | &nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2926203 |
| &nbsp;&nbsp;&nbsp;Series 2017-K63 Class B, 144A<br> 4.012%, 02/25/50@,• | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1483876 |
| &nbsp;&nbsp;&nbsp;Series 2018-K85 Class C, 144A<br> 4.464%, 12/25/50@,• | &nbsp;&nbsp;&nbsp;3500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3408997 |
| &nbsp;&nbsp;&nbsp;Series 2018-K83 Class B, 144A<br> 4.424%, 11/25/51@,• | &nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1987282 |
| &nbsp;&nbsp;&nbsp;Series 2019-K102 Class B, 144A<br> 3.652%, 12/25/51@,• | &nbsp;&nbsp;&nbsp;5320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5108982 |
| &nbsp;&nbsp;&nbsp;Series 2019-K95 Class B, 144A<br> 4.049%, 08/25/52@,• | &nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2411710 |
| Wells Fargo Commercial Mortgage Trust, Series 2019-C51 Class A3,<br> 3.055%, 06/15/52 | &nbsp;&nbsp;&nbsp;2829 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2704034 |
| **TOTAL COMMERCIAL MORTGAGE BACKED SECURITIES<br> (Cost $49,448,031)** | **TOTAL COMMERCIAL MORTGAGE BACKED SECURITIES<br> (Cost $49,448,031)** | &nbsp;&nbsp;&nbsp;**47955141** |
| **CORPORATE BONDS — 24.7%** | **CORPORATE BONDS — 24.7%** | **CORPORATE BONDS — 24.7%** |
| **Aerospace & Defense — 0.5%** | **Aerospace & Defense — 0.5%** | **Aerospace & Defense — 0.5%** |
| The Boeing Co.<br> 3.500%, 03/01/39 | &nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1619641 |
| **Apparel — 0.5%** | **Apparel — 0.5%** | **Apparel — 0.5%** |
| VF Corp.<br> 2.800%, 04/23/27 | &nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1939905 |
| **Auto Manufacturers — 0.6%** | **Auto Manufacturers — 0.6%** | **Auto Manufacturers — 0.6%** |
| Ford Motor Credit Co. LLC<br> 5.303%, 09/06/29 | &nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1995517 |
| **Banks — 4.0%** | **Banks — 4.0%** | **Banks — 4.0%** |
| Allfirst Preferred Capital Trust (3 M SOFR + 1.762%)<br> 6.079%, 07/15/29• | &nbsp;&nbsp;&nbsp;3500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3435925 |
| JPMorgan Chase & Co., Series B (3 M SOFR + 0.762%)<br> 5.058%, 02/01/27• | &nbsp;&nbsp;&nbsp;3200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3168165 |

---

------

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

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

#### Quality Bond Fund<br>

---

| | | |
|:---|:---|:---|
|  | **Par<br> (000)** | &nbsp;&nbsp;**Value†** |
| **CORPORATE BONDS — (continued)** | **CORPORATE BONDS — (continued)** | **CORPORATE BONDS — (continued)** |
| **Banks — (continued)** | **Banks — (continued)** | **Banks — (continued)** |
| State Street Corp. (3 M SOFR + 0.822%)<br> 5.033%, 05/15/28• | $3830 | &nbsp;&nbsp;$3746240 |
| The PNC Financial Services Group, Inc. (SOFRRATE + 1.841%)<br> 5.582%, 06/12/29• | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1554567 |
| US Bancorp (UST Yield Curve CMT 5 Yr + 0.950%)<br> 2.491%, 11/03/36• | &nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2155538 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;14060435 |
| **Beverages — 1.0%** | **Beverages — 1.0%** | **Beverages — 1.0%** |
| Constellation Brands, Inc.<br> 4.500%, 05/09/47 | &nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1679257 |
| Keurig Dr Pepper, Inc.<br> 2.250%, 03/15/31 | &nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1763952 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;3443209 |
| **Biotechnology — 0.9%** | **Biotechnology — 0.9%** | **Biotechnology — 0.9%** |
| Amgen, Inc.<br> 5.600%, 03/02/43 | &nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3038545 |
| **Chemicals — 0.6%** | **Chemicals — 0.6%** | **Chemicals — 0.6%** |
| The Sherwin-Williams Co.<br> 4.800%, 09/01/31 | &nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;2042804 |
| **Diversified Financial Services — 0.8%** | **Diversified Financial Services — 0.8%** | **Diversified Financial Services — 0.8%** |
| AerCap Ireland Capital DAC/AerCap Global Aviation Trust<br> 3.000%, 10/29/28 | &nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2891563 |
| **Electric — 3.5%** | **Electric — 3.5%** | **Electric — 3.5%** |
| CMS Energy Corp. (UST Yield Curve CMT 5 Yr + 2.900%)<br> 3.750%, 12/01/50• | &nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1846302 |
| Dominion Energy, Inc., Series A (UST Yield Curve CMT 5 Yr + 2.386%)<br> 6.875%, 02/01/55• | &nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3137501 |
| Duke Energy Carolinas LLC<br> 2.850%, 03/15/32 | &nbsp;&nbsp;&nbsp;2298 | &nbsp;&nbsp;&nbsp;&nbsp;2094799 |
| Northern States Power Co.<br> 3.600%, 09/15/47 | &nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3035757 |
| NRG Energy, Inc., 144A<br> 5.407%, 10/15/35@ | &nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;2007630 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;12121989 |
| **Entertainment — 0.1%** | **Entertainment — 0.1%** | **Entertainment — 0.1%** |
| Warnermedia Holdings, Inc.<br> 5.141%, 03/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;601 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;447369 |
| **Food — 2.3%** | **Food — 2.3%** | **Food — 2.3%** |
| Kraft Heinz Foods Co.<br> 4.625%, 10/01/39 | &nbsp;&nbsp;&nbsp;2440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2223823 |
| Mars, Inc., 144A<br> 5.700%, 05/01/55@ | &nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2026141 |
| The Hershey Co.<br> 1.700%, 06/01/30 | &nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;895243 |

---

---

| | | |
|:---|:---|:---|
|  | **Par<br> (000)** | &nbsp;&nbsp;**Value†** |
| **Food — (continued)** | **Food — (continued)** | **Food — (continued)** |
| The J.M. Smucker Co.<br> 4.250%, 03/15/35 | $3000 | &nbsp;&nbsp;$2833305 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;7978512 |
| **Gas — 0.7%** | **Gas — 0.7%** | **Gas — 0.7%** |
| The Brooklyn Union Gas Co., 144A<br> 3.407%, 03/10/26@ | &nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;2490684 |
| **Healthcare Products — 0.5%** | **Healthcare Products — 0.5%** | **Healthcare Products — 0.5%** |
| Revvity, Inc.<br> 2.250%, 09/15/31 | &nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;1736989 |
| **Healthcare Services — 0.5%** | **Healthcare Services — 0.5%** | **Healthcare Services — 0.5%** |
| Health Care Service Corp. A Mutual Legal Reserve Co., 144A<br> 2.200%, 06/01/30@ | &nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;1808862 |
| **Household Products & Wares — 0.8%** | **Household Products & Wares — 0.8%** | **Household Products & Wares — 0.8%** |
| Church & Dwight Co., Inc.<br> 2.300%, 12/15/31 | &nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;2657944 |
| **Insurance — 1.4%** | **Insurance — 1.4%** | **Insurance — 1.4%** |
| Arthur J Gallagher & Co.<br> 5.000%, 02/15/32 | &nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;2041052 |
| New York Life Global Funding, 144A<br> 4.550%, 01/28/33@ | &nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;2995665 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;5036717 |
| **Investment Companies — 0.5%** | **Investment Companies — 0.5%** | **Investment Companies — 0.5%** |
| Ares Capital Corp.<br> 2.875%, 06/15/28 | &nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;1909709 |
| **Oil & Gas — 0.7%** | **Oil & Gas — 0.7%** | **Oil & Gas — 0.7%** |
| Repsol E&P Capital Markets US LLC, 144A<br> 5.976%, 09/16/35@ | &nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;2545590 |
| **Pharmaceuticals — 1.0%** | **Pharmaceuticals — 1.0%** | **Pharmaceuticals — 1.0%** |
| Bristol-Myers Squibb Co.<br> 3.400%, 07/26/29 | &nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;1462850 |
| Merck & Co., Inc.<br> 3.900%, 03/07/39 | &nbsp;&nbsp;&nbsp;2200 | &nbsp;&nbsp;&nbsp;&nbsp;1966132 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;3428982 |
| **Pipelines — 1.2%** | **Pipelines — 1.2%** | **Pipelines — 1.2%** |
| Energy Transfer LP, Series H (UST Yield Curve CMT 5 Yr + 5.694%)<br> 6.500%µ,• | &nbsp;&nbsp;&nbsp;&nbsp;2185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2193150 |
| Western Midstream Operating LP<br> 5.450%, 11/15/34 | &nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;2002736 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;4195886 |
| **Real Estate Investment Trusts — 0.4%** | **Real Estate Investment Trusts — 0.4%** | **Real Estate Investment Trusts — 0.4%** |
| SBA Tower Trust, 144A<br> 1.884%, 07/15/50@ | &nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;1488630 |
| **Retail — 0.4%** | **Retail — 0.4%** | **Retail — 0.4%** |
| AutoNation, Inc.<br> 1.950%, 08/01/28 | &nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1407183 |

---

------

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

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

#### Quality Bond Fund<br>

---

| | | |
|:---|:---|:---|
|  | **Par<br> (000)** | &nbsp;&nbsp;**Value†** |
| **CORPORATE BONDS — (continued)** | **CORPORATE BONDS — (continued)** | **CORPORATE BONDS — (continued)** |
| **Semiconductors — 0.6%** | **Semiconductors — 0.6%** | **Semiconductors — 0.6%** |
| NXP BV/NXP Funding LLC/NXP USA, Inc.<br> 3.150%, 05/01/27 | $2000 | &nbsp;&nbsp;&nbsp;$1969046 |
| **Software — 0.2%** | **Software — 0.2%** | **Software — 0.2%** |
| Roper Technologies, Inc.<br> 1.400%, 09/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;713040 |
| **Telecommunications — 0.5%** | **Telecommunications — 0.5%** | **Telecommunications — 0.5%** |
| T-Mobile USA, Inc.<br> 3.000%, 02/15/41 | &nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1876687 |
| **Transportation — 0.5%** | **Transportation — 0.5%** | **Transportation — 0.5%** |
| BNSF Railway Co. Pass Through Trust, Series 2015-1, 144A<br> 3.442%, 06/16/28@ | &nbsp;&nbsp;&nbsp;&nbsp;1872 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1822221 |
| **TOTAL CORPORATE BONDS<br> (Cost $89,006,210)** |  | &nbsp;&nbsp;&nbsp;&nbsp;**86667659** |
| **MUNICIPAL BONDS — 0.8%** | **MUNICIPAL BONDS — 0.8%** | **MUNICIPAL BONDS — 0.8%** |
| University of Virginia<br> 5.000%, 09/01/40<br> **(Cost $2,761,305)** | &nbsp;&nbsp;&nbsp;2800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2739781** |
| **RESIDENTIAL MORTGAGE BACKED SECURITIES — 44.2%** | **RESIDENTIAL MORTGAGE BACKED SECURITIES — 44.2%** | **RESIDENTIAL MORTGAGE BACKED SECURITIES — 44.2%** |
| **Collateralized Mortgage Obligations — 28.0%** | **Collateralized Mortgage Obligations — 28.0%** | **Collateralized Mortgage Obligations — 28.0%** |
| Agate Bay Mortgage Trust, Series 2015-6 Class B1, 144A<br> 3.558%, 09/25/45@,• | &nbsp;&nbsp;&nbsp;1790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1741075 |
| CIM Trust, |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-INV2 Class B1A, 144A<br> 4.737%, 05/25/49@,• | &nbsp;&nbsp;&nbsp;4328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4179570 |
| &nbsp;&nbsp;&nbsp;Series 2020-INV1 Class A13, 144A<br> 3.000%, 04/25/50@,• | &nbsp;&nbsp;&nbsp;&nbsp;1182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1023852 |
| CSMC Trust, Series 2013-IVR2 Class A2, 144A<br> 3.000%, 04/25/43@,• | &nbsp;&nbsp;&nbsp;3295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2978912 |
| Fannie Mae Pool |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, 08/01/42 | &nbsp;&nbsp;&nbsp;4472 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3886018 |
| &nbsp;&nbsp;&nbsp;5.500%, 12/01/54 | &nbsp;&nbsp;&nbsp;&nbsp;3716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3749138 |
| Freddie Mac Pool |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, 12/01/44 | &nbsp;&nbsp;&nbsp;3826 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3851439 |
| &nbsp;&nbsp;&nbsp;5.500%, 08/01/53 | &nbsp;&nbsp;&nbsp;2878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2907355 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2021-2 Class MBU,<br> 2.500%, 11/25/60 | &nbsp;&nbsp;&nbsp;&nbsp;3100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2170894 |
| Ginnie Mae, |  |  |
| &nbsp;&nbsp;&nbsp;Series 2018-37 Class BY,<br> 3.500%, 03/20/48 | &nbsp;&nbsp;&nbsp;&nbsp;5125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4700115 |
| &nbsp;&nbsp;&nbsp;3.500%, 11/20/52 | &nbsp;&nbsp;&nbsp;2736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2465704 |
| GS Mortgage-Backed Securities Corp. Trust, Series 2020-PJ3 Class A13, 144A<br> 2.500%, 10/25/50@,• | &nbsp;&nbsp;&nbsp;&nbsp;4187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3507630 |

---

---

| | | |
|:---|:---|:---|
|  | **Par<br> (000)** | &nbsp;&nbsp;**Value†** |
| **Collateralized Mortgage Obligations — (continued)** | **Collateralized Mortgage Obligations — (continued)** | **Collateralized Mortgage Obligations — (continued)** |
| GS Mortgage-Backed Securities Trust, Series 2020-PJ1 Class B1, 144A<br> 3.610%, 05/25/50@,• | $4895 | &nbsp;&nbsp;$4379408 |
| JP Morgan Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-INV1 Class B1A, 144A<br> 2.932%, 08/25/50@,• | &nbsp;&nbsp;&nbsp;4410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3710259 |
| &nbsp;&nbsp;&nbsp;Series 2020-INV1 Class A3, 144A<br> 3.500%, 08/25/50@,• | &nbsp;&nbsp;&nbsp;2787 | &nbsp;&nbsp;&nbsp;&nbsp;2504990 |
| &nbsp;&nbsp;&nbsp;Series 2020-4 Class A15, 144A<br> 3.000%, 11/25/50@,• | &nbsp;&nbsp;&nbsp;4108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3567334 |
| &nbsp;&nbsp;&nbsp;Series 2020-8 Class A3, 144A<br> 3.000%, 03/25/51@,• | &nbsp;&nbsp;&nbsp;2589 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2248493 |
| &nbsp;&nbsp;&nbsp;Series 2021-1 Class A3, 144A<br> 2.500%, 06/25/51@,• | &nbsp;&nbsp;&nbsp;4347 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3616325 |
| &nbsp;&nbsp;&nbsp;Series 2021-1 Class A15, 144A<br> 2.500%, 06/25/51@,• | &nbsp;&nbsp;&nbsp;3250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2680437 |
| &nbsp;&nbsp;&nbsp;Series 2021-7 Class A15, 144A<br> 2.500%, 11/25/51@,• | &nbsp;&nbsp;&nbsp;4997 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4115967 |
| &nbsp;&nbsp;&nbsp;Series 2022-1 Class A3, 144A<br> 2.500%, 07/25/52@,• | &nbsp;&nbsp;&nbsp;3887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3221345 |
| JP Morgan Seasoned Mortgage Trust Series, Series 2024-1 Class A3, 144A<br> 4.415%, 01/25/63@,• | &nbsp;&nbsp;&nbsp;3238 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3114920 |
| MFA Trust, Series 2020-NQM1 Class B1, 144A<br> 4.978%, 08/25/49@,• | &nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2495557 |
| Sequoia Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;Series 2013-3 Class A2,<br> 2.500%, 03/25/43• | &nbsp;&nbsp;&nbsp;&nbsp;7353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6435251 |
| &nbsp;&nbsp;&nbsp;Series 2017-5 Class A1, 144A<br> 3.500%, 08/25/47@,• | &nbsp;&nbsp;&nbsp;&nbsp;1563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1416425 |
| &nbsp;&nbsp;&nbsp;Series 2020-4 Class A20, 144A<br> 2.500%, 11/25/50@,• | &nbsp;&nbsp;&nbsp;&nbsp;2514 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2078709 |
| &nbsp;&nbsp;&nbsp;Series 2021-5 Class A5, 144A<br> 2.000%, 07/25/51@,• | &nbsp;&nbsp;&nbsp;2539 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2224524 |
| Towd Point Mortgage Trust, Series 2021-1 Class A2, 144A<br> 2.750%, 11/25/61@,• | &nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2149120 |
| Vista Point Securitization Trust, Series 2020-1 Class M1, 144A<br> 4.151%, 03/25/65@,• | &nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2973608 |
| Wells Fargo Mortgage Backed Securities Trust, |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-3 Class A1, 144A<br> 3.000%, 06/25/50@,• | &nbsp;&nbsp;&nbsp;3789 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3297730 |
| &nbsp;&nbsp;&nbsp;Series 2022-2 Class A2, 144A<br> 2.500%, 12/25/51@,• | &nbsp;&nbsp;&nbsp;3857 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3209097 |
| WinWater Mortgage Loan Trust, Series 2016-1 Class B3, 144A<br> 3.785%, 01/20/46@,• | &nbsp;&nbsp;&nbsp;1489 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1424474 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;98025675 |
| **Fannie Mae Pool — 6.6%** | **Fannie Mae Pool — 6.6%** | **Fannie Mae Pool — 6.6%** |
| 3.500%, 10/01/45 | &nbsp;&nbsp;&nbsp;3946 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3668320 |
| 1.500%, 06/01/51 | &nbsp;&nbsp;&nbsp;3269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2509527 |
| 2.000%, 11/01/51 | &nbsp;&nbsp;&nbsp;3957 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3209045 |
| 2.000%, 12/01/51 | &nbsp;&nbsp;&nbsp;&nbsp;2391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1939338 |

---

------

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

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

#### Quality Bond Fund<br>

---

| | | |
|:---|:---|:---|
|  | **Par<br> (000)** | &nbsp;&nbsp;**Value†** |
| **RESIDENTIAL MORTGAGE BACKED SECURITIES — (continued)** | **RESIDENTIAL MORTGAGE BACKED SECURITIES — (continued)** | **RESIDENTIAL MORTGAGE BACKED SECURITIES — (continued)** |
| **Fannie Mae Pool — (continued)** | **Fannie Mae Pool — (continued)** | **Fannie Mae Pool — (continued)** |
| 3.000%, 03/01/52 | $8888 | &nbsp;&nbsp;&nbsp;&nbsp;$7833643 |
| 6.000%, 07/01/53 | &nbsp;&nbsp;&nbsp;&nbsp;3766 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3858521 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23018394 |
| **Fannie Mae REMICS — 1.0%** | **Fannie Mae REMICS — 1.0%** | **Fannie Mae REMICS — 1.0%** |
| Series 2019-48 Class MA<br> 3.000%, 09/25/49 | &nbsp;&nbsp;&nbsp;&nbsp;3855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3409507 |
| **Freddie Mac Pool — 5.0%** | **Freddie Mac Pool — 5.0%** | **Freddie Mac Pool — 5.0%** |
| 2.500%, 04/01/52 | &nbsp;&nbsp;&nbsp;&nbsp;9255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7841691 |
| 4.000%, 09/01/52 | &nbsp;&nbsp;&nbsp;&nbsp;6104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5777009 |
| 4.000%, 01/01/53 | &nbsp;&nbsp;&nbsp;&nbsp;4257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4023089 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17641789 |
| **Freddie Mac REMICS — 2.9%** | **Freddie Mac REMICS — 2.9%** | **Freddie Mac REMICS — 2.9%** |
| Series 5105 Class JM, 2.000%, 12/25/46 | &nbsp;&nbsp;&nbsp;&nbsp;3949 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2864852 |
| Series 5229 Class AL, 4.000%, 06/25/49 | &nbsp;&nbsp;&nbsp;&nbsp;8018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7333248 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10198100 |
| **Ginnie Mae — 0.7%** | **Ginnie Mae — 0.7%** | **Ginnie Mae — 0.7%** |
| Series 2015-76 Class QB<br> 3.000%, 05/20/45 | &nbsp;&nbsp;&nbsp;&nbsp;2731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2454566 |
| **TOTAL RESIDENTIAL MORTGAGE BACKED SECURITIES<br> (Cost $161,542,562)** |  | &nbsp;&nbsp;&nbsp;&nbsp;**154748031** |
| **U.S. TREASURY OBLIGATIONS — 7.8%** | **U.S. TREASURY OBLIGATIONS — 7.8%** | **U.S. TREASURY OBLIGATIONS — 7.8%** |
| U.S. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;3.250%, 05/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;1700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1427203 |
| &nbsp;&nbsp;&nbsp;2.500%, 02/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;5500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3934863 |
| &nbsp;&nbsp;&nbsp;3.000%, 02/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;2050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1546709 |
| &nbsp;&nbsp;&nbsp;3.000%, 08/15/48 | &nbsp;&nbsp;&nbsp;14700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11042227 |
| &nbsp;&nbsp;&nbsp;4.125%, 08/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;2150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1941719 |
| U.S. Treasury Inflation Indexed Bonds |  |  |
| &nbsp;&nbsp;&nbsp;2.125%, 02/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;1053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;969825 |
| &nbsp;&nbsp;&nbsp;2.375%, 02/15/55 | &nbsp;&nbsp;&nbsp;&nbsp;2559 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2494527 |
| U.S. Treasury Inflation Indexed Notes<br> 1.750%, 01/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;1261 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1266966 |
| U.S. Treasury Notes<br> 2.875%, 05/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2820937 |
| **TOTAL U.S. TREASURY OBLIGATIONS<br> (Cost $27,792,960)** | **TOTAL U.S. TREASURY OBLIGATIONS<br> (Cost $27,792,960)** | &nbsp;&nbsp;&nbsp;**27444976** |

---

---

| | |
|:---|:---|
| **Number of<br> Shares** | &nbsp;&nbsp;**Value†** |
| **SHORT-TERM INVESTMENTS — 0.3%** | **SHORT-TERM INVESTMENTS — 0.3%** |

---

---

| | | |
|:---|:---|:---|
| BlackRock Liquidity FedFund - Institutional Shares (seven-day effective yield 4.027%)<br> **(Cost $1,124,829)** | 1124829 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$**1124829** |
| **TOTAL INVESTMENTS — 100.0%<br> (Cost $361,176,193)** |  | &nbsp;&nbsp;**$350402020** |
| **Other Assets & Liabilities — 0.0%** | **Other Assets & Liabilities — 0.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**63869** |
| **TOTAL NET ASSETS — 100.0%** |  | &nbsp;&nbsp;**$350465889** |

---

------

---

| | |
|:---|:---|
| † | See Security Valuation Note in the most recent semi-annual or annual report. |
| @ | Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. At September 30, 2025, the aggregate value of Rule 144A securities was $144,938,249, which represents 41.4% of the Fund's net assets. |
| • | Variable rate security. The rate disclosed is the rate in effect on the report date. The information in parenthesis represents the benchmark and reference rate for each relevant security and the rate floats based upon the reference rate and spread. The security may be further subject to interest rate floors and caps. For loan agreements, the rate shown may represent a weighted average interest rate. Certain variable rate securities are not based on a published reference rate and spread, but are determined by the issuer or agent and are based on current market conditions, or, for mortgage-backed securities, are impacted by the individual mortgages which are paying off over time. These securities do not indicate a reference rate and spread in their descriptions. |
| µ | Perpetual security with no stated maturity date. |

---

---

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

---

Futures contracts held by the Fund at September 30, 2025 are as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Futures Contracts:<br> Exchange Traded** | **Futures Contracts:<br> Exchange Traded** | **Futures Contracts:<br> Exchange Traded** | **Futures Contracts:<br> Exchange Traded** | **Futures Contracts:<br> Exchange Traded** | **Futures Contracts:<br> Exchange Traded** | **Futures Contracts:<br> Exchange Traded** | **Futures Contracts:<br> Exchange Traded** | **Futures Contracts:<br> Exchange Traded** |
| **Type** | **Futures Contract** | **Expiration<br> Date** | **Numbers<br> of<br> Contracts** | **Units per<br> Contract** | **Closing<br> Price** | **Notional<br> Value** | **Unrealized<br> Appreciation** | **Unrealized<br> Depreciation** |
| Long | U.S. Treasury 10 Year Note | 12/19/25 | 40 | 1000 | $113 | $4500000 | $32427 | $— |
|  |  |  |  |  |  |  | $32427 | $— |

---

## 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 Quality Bond Fund

- **b. EDGAR series identifier (if any):** S000006730

- **c. LEI of Series:** 6EJYQY10X26QDQ79NP61

**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:** $352217257.42

**Total Liabilities:** $2383581.61

**Net Assets:** $349833675.81

**Delayed Delivery Securities:** $1999980.00

**Cash Not Reported:** $75000.00

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 210.62057000 | **1-Year:** 13984.53412000 | **5-Year:** 83299.45445000 | **10-Year:** 76950.16470000 | **30-Year:** 2242.66902000

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

- **3-Month:** 0.00000000 | **1-Year:** 952.46486000 | **5-Year:** 1526.86374000 | **10-Year:** 2876.40335000 | **30-Year:** 422.92893000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000018293 | -0.30%               | 1.19%                | 1.17%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-74490.09               | $-1885292.11                               |
| Month 2  | $83357.99                | $2885979.65                                |
| Month 3  | $93721.33                | $2667877.22                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| FREMF Mortgage Trust                        | FREMF 2017-K63 Mortgage Trust                                 | CUSIP: 30300HAG1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1500000 | PA      | $1483876.20   | 0.42%             | 2050-02-25      | Variable      | 4.01%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Mortgage Backed Se              | Wells Fargo Mortgage Backed Securities 2020-3 Trust           | CUSIP: 95002TAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3788961 | PA      | $3297729.85   | 0.94%             | 2050-06-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| HEALTH CARE SERVICE CORP                    | Health Care Service Corp A Mutual Legal Reserve Co            | CUSIP: 42218SAF5<br>LEI: 549300TMJ1FKCKECR148 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1808861.42   | 0.52%             | 2030-06-01      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| Nelnet Student Loan Trust                   | Nelnet Student Loan Trust 2004-4                              | CUSIP: 64031QBL4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2284939 | PA      | $2249621.14   | 0.64%             | 2041-01-25      | Floating      | 4.90%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                            | CUSIP: 3137H7S53<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   8018162 | PA      | $7333248.20   | 2.10%             | 2049-06-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                              | CUSIP: 912810RK6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5500000 | PA      | $3934863.30   | 1.12%             | 2045-02-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                    | JP Morgan Mortgage Trust 2021-7                               | CUSIP: 46592NBP0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4997352 | PA      | $4115966.71   | 1.18%             | 2051-11-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                        | FREMF 2016-K53 Mortgage Trust                                 | CUSIP: 30288LAQ6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   3525000 | PA      | $3509625.71   | 1.00%             | 2049-03-25      | Variable      | 4.18%                 | No            |                  2 | On Loan: No      |
| HERSHEY COMPANY                             | Hershey Co/The                                                | CUSIP: 427866BE7<br>LEI: 21X2CX66SU2BR6QTAD08 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $895243.23    | 0.26%             | 2030-06-01      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                      | Sequoia Mortgage Trust 2021-5                                 | CUSIP: 81748XAE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2538762 | PA      | $2224524.13   | 0.64%             | 2051-07-25      | Variable      | 2.00%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Tru              | SMB Private Education Loan Trust 2015-C                       | CUSIP: 78448RAE6<br>LEI: 549300GD7VLLBVPDNJ81 | Long             | ABS-O            | CORP              | US        |    648989 | PA      | $646974.58    | 0.18%             | 2043-09-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Bank5                                       | BANK5 2024-5YR5                                               | CUSIP: 065931BS5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2550000 | PA      | $2617242.74   | 0.75%             | 2029-02-15      | Variable      | 7.24%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                  | Navient Private Education Refi Loan Trust 2019-F              | CUSIP: 63935CAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    855000 | PA      | $760238.30    | 0.22%             | 2068-08-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| ALLFIRST PFD CAP TRUST                      | Allfirst Preferred Capital Trust                              | CUSIP: 01852FAC7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3435925.12   | 0.98%             | 2029-07-15      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| Winwater Mortgage Loan Trust                | WinWater Mortgage Loan Trust 2016-1                           | CUSIP: 97655JCD2<br>LEI: 5493007FSEV8PHXVE122 | Long             | ABS-MBS          | CORP              | US        |   1489414 | PA      | $1424473.90   | 0.41%             | 2046-01-20      | Variable      | 3.78%                 | No            |                  2 | On Loan: No      |
| TSY INFL IX N/B                             | United States Treasury Inflation Indexed Bonds                | CUSIP: 91282CJY8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1261128 | PA      | $1266966.11   | 0.36%             | 2034-01-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                               | CUSIP: 31418FE37<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3715585 | PA      | $3749137.90   | 1.07%             | 2054-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Vista Point Securitization Tru              | Vista Point Securitization Trust 2020-1                       | CUSIP: 92838WAD6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3000000 | PA      | $2973608.40   | 0.85%             | 2065-03-25      | Variable      | 4.15%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                    | AerCap Ireland Capital DAC / AerCap Global Aviation Trust     | CUSIP: 00774MAW5<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |   3000000 | PA      | $2891563.41   | 0.83%             | 2028-10-29      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| REVVITY INC                                 | Revvity Inc                                                   | CUSIP: 714046AN9<br>LEI: 549300IKL1SDPFI7N655 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1736988.90   | 0.50%             | 2031-09-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| New Hampshire Higher Education              | Granite Edvance Corp                                          | CUSIP: 644622AB8<br>LEI: 254900HSRKF2XFNCHT93 | Long             | ABS-O            | CORP              | US        |   1743504 | PA      | $1603743.38   | 0.46%             | 2060-09-25      | Fixed         | 1.55%                 | No            |                  2 | On Loan: No      |
| ROPER TECHNOLOGIES INC                      | Roper Technologies Inc                                        | CUSIP: 776743AN6<br>LEI: 54930003T4SXCIWVXY35 | Long             | DBT              | CORP              | US        |    750000 | PA      | $713039.79    | 0.20%             | 2027-09-15      | Fixed         | 1.40%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                | CSMC Trust 2013-IVR2                                          | CUSIP: 12646WAH7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3295545 | PA      | $2978912.10   | 0.85%             | 2043-04-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| AMGEN INC                                   | Amgen Inc                                                     | CUSIP: 031162DS6<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3038544.66   | 0.87%             | 2043-03-02      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Apex Credit CLO LLC                         | Apex Credit CLO 2024-I Ltd                                    | CUSIP: 03753AAE0<br>LEI: 2138006ZTCQQWC5OOL40 | Long             | ABS-CBDO         | CORP              | BM        |   1000000 | PA      | $1002388.00   | 0.29%             | 2036-04-20      | Floating      | 6.73%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                               | CUSIP: 3140JBTJ5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3946114 | PA      | $3668320.02   | 1.05%             | 2045-10-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | US 10YR NOTE (CBT)                                            | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        40 | NC      | $32427.20     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Agate Bay Mortgage Loan Trust               | Agate Bay Mortgage Trust 2015-6                               | CUSIP: 00842DAS2<br>LEI: 549300LRONE82VI44B39 | Long             | ABS-MBS          | CORP              | US        |   1790097 | PA      | $1741075.83   | 0.50%             | 2045-09-25      | Variable      | 3.56%                 | No            |                  2 | On Loan: No      |
| TSY INFL IX N/B                             | United States Treasury Inflation Indexed Bonds                | CUSIP: 912810TY4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1052600 | PA      | $969825.27    | 0.28%             | 2054-02-15      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| TSY INFL IX N/B                             | United States Treasury Inflation Indexed Bonds                | CUSIP: 912810UH9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2559400 | PA      | $2494526.79   | 0.71%             | 2055-02-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| Bank                                        | BANK 2021-BNK37                                               | CUSIP: 06540LBN6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1650000 | PA      | $1447011.72   | 0.41%             | 2064-11-15      | Variable      | 2.85%                 | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                        | FREMF 2019-K95 Mortgage Trust                                 | CUSIP: 30311MAS1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   2500000 | PA      | $2411710.25   | 0.69%             | 2052-08-25      | Variable      | 4.05%                 | No            |                  2 | On Loan: No      |
| REPSOL E&P CAP MARKETS                      | Repsol E&P Capital Markets US LLC                             | CUSIP: 76026AAC1<br>LEI: 894500D0J12FRZ3Q0M15 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2545590.28   | 0.73%             | 2035-09-16      | Fixed         | 5.98%                 | No            |                  2 | On Loan: No      |
| CONSTELLATION BRANDS INC                    | Constellation Brands Inc                                      | CUSIP: 21036PAT5<br>LEI: 5493005GKEG8QCVY7037 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1679257.42   | 0.48%             | 2047-05-09      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BNSF RAILWAY CO 2015-1 P                    | BNSF Railway Co 2015-1 Pass Through Trust                     | CUSIP: 05581JAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1871603 | PA      | $1822221.33   | 0.52%             | 2028-06-16      | Fixed         | 3.44%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                    | JP Morgan Mortgage Trust 2020-4                               | CUSIP: 46652FBM1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4107685 | PA      | $3567333.51   | 1.02%             | 2050-11-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| Taco Bell Funding, LLC                      | Taco Bell Funding LLC                                         | CUSIP: 87342RAL8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3000000 | PA      | $3007585.80   | 0.86%             | 2055-08-25      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                              | CUSIP: 3132DWDJ9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   9255069 | PA      | $7841690.42   | 2.24%             | 2052-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                      | Sequoia Mortgage Trust 2020-4                                 | CUSIP: 81748RAV9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2514006 | PA      | $2078709.10   | 0.59%             | 2050-11-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - SCRT                          | Freddie Mac Seasoned Credit Risk Transfer Trust Series 2021-2 | CUSIP: 35563P2U2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   3100000 | PA      | $2170894.35   | 0.62%             | 2060-11-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                      | Sequoia Mortgage Trust 2017-5                                 | CUSIP: 81746DAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1563327 | PA      | $1416425.43   | 0.40%             | 2047-08-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| VF CORP                                     | VF Corp                                                       | CUSIP: 918204BB3<br>LEI: CWAJJ9DJ5Z7P057HV541 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1939905.20   | 0.55%             | 2027-04-23      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                    | Ford Motor Credit Co LLC                                      | CUSIP: 345397G23<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1995517.12   | 0.57%             | 2029-09-06      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag              | Wells Fargo Commercial Mortgage Trust 2019-C51                | CUSIP: 95001VAT7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2828772 | PA      | $2704034.01   | 0.77%             | 2052-06-15      | Fixed         | 3.06%                 | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                        | FREMF 2019-K735 Mortgage Trust                                | CUSIP: 30298FAJ3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   6000000 | PA      | $5957406.00   | 1.70%             | 2026-05-25      | Variable      | 4.16%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                               | CUSIP: 31418ECA6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   8887932 | PA      | $7833643.01   | 2.24%             | 2052-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CIM Trust                                   | CIM Trust 2019-INV2                                           | CUSIP: 12554TBA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4328192 | PA      | $4179569.68   | 1.19%             | 2049-05-25      | Variable      | 4.74%                 | No            |                  2 | On Loan: No      |
| ARES CAPITAL CORP                           | Ares Capital Corp                                             | CUSIP: 04010LBB8<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1909709.16   | 0.55%             | 2028-06-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| MARS INC                                    | Mars Inc                                                      | CUSIP: 571676BC8<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2026140.74   | 0.58%             | 2055-05-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES                      | PNC Financial Services Group Inc/The                          | CUSIP: 693475BR5<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1554566.72   | 0.44%             | 2029-06-12      | Fixed         | 5.58%                 | No            |                  2 | On Loan: No      |
| UNIV OF VIRGINIA VA UNIV REVEN              | University of Virginia                                        | CUSIP: 915217SB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2800000 | PA      | $2739780.96   | 0.78%             | 2040-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KEURIG DR PEPPER INC                        | Keurig Dr Pepper Inc                                          | CUSIP: 49271VAN0<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1763951.58   | 0.50%             | 2031-03-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| SBA TOWER TRUST                             | SBA Tower Trust                                               | CUSIP: 78403DAP5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1488629.55   | 0.43%             | 2026-01-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities               | GS Mortage-Backed Securities Trust 2020-PJ1                   | CUSIP: 36258FAR0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4894825 | PA      | $4379408.50   | 1.25%             | 2050-05-25      | Variable      | 3.61%                 | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                        | FREMF 2016-K52 Mortgage Trust                                 | CUSIP: 30294DAN3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   5065000 | PA      | $5045992.57   | 1.44%             | 2049-01-25      | Variable      | 4.15%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                               | CUSIP: 3140XQE45<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4472029 | PA      | $3886018.25   | 1.11%             | 2042-08-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| CIM Trust                                   | CIM Trust 2020-INV1                                           | CUSIP: 12560AAN4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1182206 | PA      | $1023851.68   | 0.29%             | 2050-04-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| SLM Student Loan Trust                      | SLM Student Loan Trust 2014-2                                 | CUSIP: 78448GAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2277043 | PA      | $2257496.65   | 0.65%             | 2055-03-25      | Floating      | 5.06%                 | No            |                  2 | On Loan: No      |
| ICG US CLO Ltd                              | ICG US CLO 2015-2R Ltd                                        | CUSIP: 44933WAQ2<br>LEI: 25490037AMBNS8P47972 | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2002102.00   | 0.57%             | 2033-01-16      | Floating      | 6.07%                 | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                        | FREMF 2018-K082 Mortgage Trust                                | CUSIP: 30297LAG7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   3000000 | PA      | $2954875.50   | 0.84%             | 2028-09-25      | Variable      | 4.27%                 | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                        | FREMF 2019-K102 Mortgage Trust                                | CUSIP: 30312WAE9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   5320000 | PA      | $5108982.20   | 1.46%             | 2051-12-25      | Variable      | 3.65%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                               | CUSIP: 31418D6B3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3956840 | PA      | $3209044.60   | 0.92%             | 2051-11-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                              | CUSIP: 3132DWER0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   6103712 | PA      | $5777008.91   | 1.65%             | 2052-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                               | CUSIP: 31418D7E6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2391278 | PA      | $1939338.38   | 0.55%             | 2051-12-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                             | CUSIP: 3136B5D36<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3855131 | PA      | $3409507.41   | 0.97%             | 2049-09-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| JP Morgan Seasoned Mortgage Tr              | JP Morgan Seasoned Mortgage Trust Series 2024-1               | CUSIP: 61777HAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3238200 | PA      | $3114919.99   | 0.89%             | 2063-01-25      | Variable      | 4.41%                 | No            |                  2 | On Loan: No      |
| AUTONATION INC                              | AutoNation Inc                                                | CUSIP: 05329WAR3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1407183.21   | 0.40%             | 2028-08-01      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                              | CUSIP: 91282CEP2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3000000 | PA      | $2820937.50   | 0.81%             | 2032-05-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                    | Benchmark 2019-B9 Mortgage Trust                              | CUSIP: 08160JAE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5000000 | PA      | $4904529.50   | 1.40%             | 2052-03-15      | Fixed         | 4.02%                 | No            |                  2 | On Loan: No      |
| Nelnet Student Loan Trust                   | Nelnet Student Loan Trust 2021-C                              | CUSIP: 64035GAC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3500000 | PA      | $3078891.90   | 0.88%             | 2062-04-20      | Fixed         | 2.53%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                            | T-Mobile USA Inc                                              | CUSIP: 87264ABL8<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $1876687.15   | 0.54%             | 2041-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ARTHUR J GALLAGHER & CO                     | Arthur J Gallagher & Co                                       | CUSIP: 04316JAM1<br>LEI: 54930049QLLMPART6V29 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2041051.86   | 0.58%             | 2032-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                        | FREMF 2019-K736 Mortgage Trust                                | CUSIP: 30298MAA7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1500000 | PA      | $1487372.55   | 0.43%             | 2026-07-25      | Variable      | 3.86%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                    | Western Midstream Operating LP                                | CUSIP: 958667AG2<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2002735.68   | 0.57%             | 2034-11-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| DOMINION ENERGY INC                         | Dominion Energy Inc                                           | CUSIP: 25746UDT3<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3137501.31   | 0.90%             | 2055-02-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                              | CUSIP: 912810SD1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  14700000 | PA      | $11042226.64  | 3.16%             | 2048-08-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| STATE STREET CORP                           | State Street Corp                                             | CUSIP: 857477AX1<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |   3830000 | PA      | $3746240.39   | 1.07%             | 2028-05-15      | Floating      | 5.03%                 | No            |                  2 | On Loan: No      |
| BROOKLYN UNION GAS CO                       | Brooklyn Union Gas Co/The                                     | CUSIP: 114259AN4<br>LEI: 83BQ1DXS6VA5GZFK8S35 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2490684.20   | 0.71%             | 2026-03-10      | Fixed         | 3.41%                 | No            |                  2 | On Loan: No      |
| US BANCORP                                  | US Bancorp                                                    | CUSIP: 91159HJB7<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2155538.40   | 0.62%             | 2036-11-03      | Fixed         | 2.49%                 | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                        | FREMF 2018-K83 Mortgage Trust                                 | CUSIP: 302958AN3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   2000000 | PA      | $1987282.20   | 0.57%             | 2051-11-25      | Variable      | 4.42%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae II Pool                                            | CUSIP: 3622ACCU2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2735633 | PA      | $2465703.74   | 0.70%             | 2052-11-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                        | FREMF 2017-K70 Mortgage Trust                                 | CUSIP: 35708VAU6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   3000000 | PA      | $2926202.70   | 0.84%             | 2049-12-25      | Variable      | 3.94%                 | No            |                  2 | On Loan: No      |
| NEW YORK LIFE GLOBAL FDG                    | New York Life Global Funding                                  | CUSIP: 64952WEZ2<br>LEI: 635400DPNHEAUHB7ZI15 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2995664.88   | 0.86%             | 2033-01-28      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                      | CUSIP: 38380VVW8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   5125000 | PA      | $4700114.95   | 1.34%             | 2048-03-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                  | Navient Private Education Refi Loan Trust 2021-E              | CUSIP: 63942EAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1514820 | PA      | $1365625.41   | 0.39%             | 2069-12-16      | Fixed         | 0.97%                 | No            |                  2 | On Loan: No      |
| BRISTOL-MYERS SQUIBB CO                     | Bristol-Myers Squibb Co                                       | CUSIP: 110122CP1<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1462850.03   | 0.42%             | 2029-07-26      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                   | Towd Point Mortgage Trust 2021-1                              | CUSIP: 89179YAW3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2500000 | PA      | $2149120.50   | 0.61%             | 2061-11-25      | Variable      | 2.75%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                              | CUSIP: 912810TH1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1700000 | PA      | $1427203.13   | 0.41%             | 2042-05-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                    | JP Morgan Mortgage Trust 2021-1                               | CUSIP: 46592EAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4346587 | PA      | $3616325.20   | 1.03%             | 2051-06-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                              | NRG Energy Inc                                                | CUSIP: 629377DB5<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2007630.00   | 0.57%             | 2035-10-15      | Fixed         | 5.41%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CAROLINAS                       | Duke Energy Carolinas LLC                                     | CUSIP: 26442CBG8<br>LEI: MWIUSDMN17TCR56VW396 | Long             | DBT              | CORP              | US        |   2298000 | PA      | $2094799.21   | 0.60%             | 2032-03-15      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                                  | MFA 2020-NQM1 Trust                                           | CUSIP: 552754AE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2500000 | PA      | $2495556.75   | 0.71%             | 2049-08-25      | Variable      | 4.98%                 | No            |                  2 | On Loan: No      |
| NXP BV/NXP FDG/NXP USA                      | NXP BV / NXP Funding LLC / NXP USA Inc                        | CUSIP: 62954HAX6<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   2000000 | PA      | $1969045.84   | 0.56%             | 2027-05-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| KRAFT HEINZ FOODS CO                        | Kraft Heinz Foods Co                                          | CUSIP: 50077LAX4<br>LEI: 5493003STKEZ2S0RNU91 | Long             | DBT              | CORP              | US        |   2440000 | PA      | $2223822.61   | 0.64%             | 2039-10-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                               | CUSIP: 31418ET75<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3766121 | PA      | $3858521.27   | 1.10%             | 2053-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                        | FREMF 2018-K85 Mortgage Trust                                 | CUSIP: 30308KAC5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   3500000 | PA      | $3408997.20   | 0.97%             | 2050-12-25      | Variable      | 4.46%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                    | JP Morgan Mortgage Trust 2020-INV1                            | CUSIP: 46591VAC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2786988 | PA      | $2504990.20   | 0.72%             | 2050-08-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| NORTHERN STATES PWR-MINN                    | Northern States Power Co/MN                                   | CUSIP: 665772CQ0<br>LEI: 3S1GHB0TEH85KX44SB51 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $3035757.28   | 0.87%             | 2047-09-15      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                  | Navient Student Loan Trust                                    | CUSIP: 63942TAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1414804 | PA      | $1453986.78   | 0.42%             | 2072-03-15      | Fixed         | 6.48%                 | No            |                  2 | On Loan: No      |
| JM SMUCKER CO                               | J M Smucker Co/The                                            | CUSIP: 832696AM0<br>LEI: 5493000WDH6A0LHDJD55 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2833305.57   | 0.81%             | 2035-03-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Tru              | SMB Private Education Loan Trust 2014-A                       | CUSIP: 784456AE5<br>LEI: 549300XC4C7GRVLU6076 | Long             | ABS-O            | CORP              | US        |   1493773 | PA      | $1484171.65   | 0.42%             | 2042-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                    | JP Morgan Mortgage Trust 2021-1                               | CUSIP: 46592EBM7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3249784 | PA      | $2680436.72   | 0.77%             | 2051-06-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                    | JP Morgan Mortgage Trust 2020-INV1                            | CUSIP: 46591VBR9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4410093 | PA      | $3710259.08   | 1.06%             | 2050-08-25      | Variable      | 2.93%                 | No            |                  2 | On Loan: No      |
| MERCK & CO INC                              | Merck & Co Inc                                                | CUSIP: 58933YAV7<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | DBT              | CORP              | US        |   2200000 | PA      | $1966131.38   | 0.56%             | 2039-03-07      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                    | J.P. Morgan Mortgage Trust 2022-1                             | CUSIP: 46654WAE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3886561 | PA      | $3221345.29   | 0.92%             | 2052-07-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                          | Energy Transfer LP                                            | CUSIP: 29273VAN0<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   2185000 | PA      | $2193150.05   | 0.63%             | N/A             | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities               | GS Mortgage-Backed Securities Corp Trust 2020-PJ3             | CUSIP: 36258WAR3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4187255 | PA      | $3507630.02   | 1.00%             | 2050-10-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                  | Navient Private Education Refi Loan Trust 2019-E              | CUSIP: 63941MAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3000000 | PA      | $2845470.90   | 0.81%             | 2068-05-15      | Fixed         | 3.39%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                               | CUSIP: 3140L8JK7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3268980 | PA      | $2509526.63   | 0.72%             | 2051-06-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                      | Sequoia Mortgage Trust 2013-3                                 | CUSIP: 81745RAB6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   7353298 | PA      | $6435251.11   | 1.84%             | 2043-03-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| BlackRock Liquidity FedFund                 | BlackRock Liquidity FedFund                                   | CUSIP: 09248U700<br>LEI: 549300T8K043VZEOVK74 | Long             | STIV             | RF                | US        |   1124829 | NS      | $1124828.57   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                      | CUSIP: 38379LN36<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2730568 | PA      | $2454565.74   | 0.70%             | 2045-05-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CHURCH & DWIGHT CO INC                      | Church & Dwight Co Inc                                        | CUSIP: 17136MAA0<br>LEI: POOXSI30AWAQGYJZC921 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2657943.42   | 0.76%             | 2031-12-15      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                              | CUSIP: 3132DWH22<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2877962 | PA      | $2907354.75   | 0.83%             | 2053-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CMS ENERGY CORP                             | CMS Energy Corp                                               | CUSIP: 125896BV1<br>LEI: 549300IA9XFBAGNIBW29 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1846301.40   | 0.53%             | 2050-12-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                   | Boeing Co/The                                                 | CUSIP: 097023CE3<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1619641.36   | 0.46%             | 2039-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| SHERWIN-WILLIAMS CO                         | Sherwin-Williams Co/The                                       | CUSIP: 824348BT2<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2042803.84   | 0.58%             | 2031-09-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                              | CUSIP: 912810SA7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2050000 | PA      | $1546708.99   | 0.44%             | 2048-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                    | Warnermedia Holdings Inc                                      | CUSIP: 55903VBU6<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |    601000 | PA      | $447369.38    | 0.13%             | 2052-03-15      | Fixed         | 5.14%                 | No            |                  2 | On Loan: No      |
| Trysail CLO Ltd                             | Trysail CLO 2022-1 Ltd                                        | CUSIP: 89856JAC0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   1500000 | PA      | $1500582.00   | 0.43%             | 2033-10-20      | Floating      | 6.18%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                              | CUSIP: 3132DWF32<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4256851 | PA      | $4023089.34   | 1.15%             | 2053-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                         | JPMorgan Chase & Co                                           | CUSIP: 161480AB4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   3200000 | PA      | $3168164.51   | 0.91%             | 2027-02-01      | Floating      | 5.06%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                  | Navient Student Loan Trust 2018-EA                            | CUSIP: 63890BAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    452479 | PA      | $451936.39    | 0.13%             | 2059-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| First Eagle BSL CLO LLC                     | First Eagle BSL CLO 2019-1 Ltd                                | CUSIP: 32010FAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4000000 | PA      | $4010788.00   | 1.15%             | 2033-01-20      | Floating      | 7.84%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                              | CUSIP: 912810TT5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2150000 | PA      | $1941718.75   | 0.56%             | 2053-08-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                    | JP Morgan Mortgage Trust 2020-8                               | CUSIP: 46652TAC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2588725 | PA      | $2248493.32   | 0.64%             | 2051-03-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                              | CUSIP: 3133KY4H9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3825731 | PA      | $3851438.74   | 1.10%             | 2044-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Mortgage Backed Se              | Wells Fargo Mortgage Backed Securities 2022-2 Trust           | CUSIP: 949930AB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3857356 | PA      | $3209096.58   | 0.92%             | 2051-12-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                            | CUSIP: 3137H07B8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3949000 | PA      | $2864851.41   | 0.82%             | 2046-12-25      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |

### Signature

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

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

**Signature:** Steven Viola

**Name of Signer:** Steven Viola

**Title:** Treasurer