# EDGAR Filing Document

**Accession Number:** 0000702340
**File Stem:** 0000940400-25-009799
**Filing Date:** 2025-11
**Character Count:** 11566
**Document Hash:** ad3e88b5bb752a03a1b89c76901ecd86
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-009799.hdr.sgml**: 20251124

**ACCESSION NUMBER**: 0000940400-25-009799

**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:** 251513160

**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

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

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

## Nport-Ex

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

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

#### Moderately Conservative Allocation Fund<br>

---

| | | |
|:---|:---|:---|
|  | **Number of<br> Shares** | &nbsp;&nbsp;**Value†** |
| **AFFILIATED EQUITY FUNDS — 36.0%** | **AFFILIATED EQUITY FUNDS — 36.0%** | **AFFILIATED EQUITY FUNDS — 36.0%** |
| Penn Series Flexibly Managed Fund\* | &nbsp;&nbsp;&nbsp;&nbsp;48553 | &nbsp;&nbsp;&nbsp;&nbsp;$5735022 |
| Penn Series Index 500 Fund\* | &nbsp;&nbsp;&nbsp;&nbsp;153694 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9352272 |
| Penn Series Large Cap Growth Fund\* | &nbsp;&nbsp;&nbsp;&nbsp;14847 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;719633 |
| Penn Series Large Cap Value Fund\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39198 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2147682 |
| Penn Series Large Core Value Fund\* | &nbsp;&nbsp;&nbsp;&nbsp;39760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1439700 |
| Penn Series Mid Core Value Fund\* | &nbsp;&nbsp;&nbsp;&nbsp;52083 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2157284 |
| Penn Series Real Estate Securities Fund\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81817 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2859515 |
| Penn Series Small Cap Index Fund\* | &nbsp;&nbsp;&nbsp;&nbsp;18764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;721082 |
| Penn Series SMID Cap Value Fund\* | &nbsp;&nbsp;&nbsp;&nbsp;16605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;708553 |
| **TOTAL AFFILIATED EQUITY FUNDS<br> (Cost $18,876,268)** |  | &nbsp;&nbsp;&nbsp;&nbsp;**25840743** |
| **AFFILIATED FIXED INCOME FUNDS — 56.2%** | **AFFILIATED FIXED INCOME FUNDS — 56.2%** | **AFFILIATED FIXED INCOME FUNDS — 56.2%** |
| Penn Series High Yield Bond Fund\* | &nbsp;&nbsp;&nbsp;&nbsp;175671 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3557331 |
| Penn Series Limited Maturity Bond Fund\* | &nbsp;&nbsp;&nbsp;&nbsp;282140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4268775 |
| Penn Series Quality Bond Fund\* | 1884037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32574992 |
| **TOTAL AFFILIATED FIXED INCOME FUNDS<br> (Cost $37,293,422)** |  | &nbsp;&nbsp;&nbsp;&nbsp;**40401098** |
| **AFFILIATED INTERNATIONAL EQUITY FUNDS — 6.9%** | **AFFILIATED INTERNATIONAL EQUITY FUNDS — 6.9%** | **AFFILIATED INTERNATIONAL EQUITY FUNDS — 6.9%** |
| Penn Series Developed International Index Fund\* | &nbsp;&nbsp;&nbsp;&nbsp;94977 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2135090 |
| Penn Series International Equity Fund\* | &nbsp;&nbsp;&nbsp;&nbsp;60788 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2821772 |
| **TOTAL AFFILIATED INTERNATIONAL EQUITY FUNDS<br> (Cost $3,940,800)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4956862** |
| **TOTAL INVESTMENTS — 99.1%<br> (Cost $60,110,490)** |  | &nbsp;&nbsp;**$71198703** |
| **Other Assets & Liabilities — 0.9%** | **Other Assets & Liabilities — 0.9%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**641273** |
| **TOTAL NET ASSETS — 100.0%** |  | &nbsp;&nbsp;**$71839976** |

---

------

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

## 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 Moderately Conservative Allocation Fund

- **b. EDGAR series identifier (if any):** S000022077

- **c. LEI of Series:** 549300PRTS3W6KKRQP30

**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:** $72355445.74

**Total Liabilities:** $362785.56

**Net Assets:** $71992660.18

**Cash Not Reported:** $779000.00

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000063368 | 0.09%                | 1.49%                | 1.34%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $120210.14               | $-41876.43                                 |
| Month 2  | $173477.59               | $917485.89                                 |
| Month 3  | $659028.69               | $303179.21                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| LARGE CAP GROWTH FUND                 | LARGE CAP GROWTH FUND                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | RF                | US        |     14925 | NS      | $723406.36    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| SMID CAP VALUE FUND                   | SMID CAP VALUE FUND                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | RF                | US        |     16694 | NS      | $712326.20    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| INDEX 500 FUND                        | INDEX 500 FUND                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | RF                | US        |    154500 | NS      | $9401329.08   | 13.06%            |  |  |  | No            |                  1 | On Loan: No      |
| Penn Series Large Cap Value Fund      | Penn Series Large Cap Value Fund      | CUSIP: 000000000<br>LEI: T4ZMVT2X0OKJVCEE0P88 | Long             | EC               | RF                | US        |     39405 | NS      | $2159002.85   | 3.00%             |  |  |  | No            |                  1 | On Loan: No      |
| MID CORE VALUE FUND                   | MID CORE VALUE FUND                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | RF                | US        |     52356 | NS      | $2168604.82   | 3.01%             |  |  |  | No            |                  1 | On Loan: No      |
| LARGE CORE VALUE FUND                 | LARGE CORE VALUE FUND                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | RF                | US        |     39968 | NS      | $1447247.44   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Penn Series High Yield Bond Fund      | Penn Series High Yield Bond Fund      | CUSIP: 000000000<br>LEI: PYMGCS7VD6DE680QME20 | Long             | EC               | RF                | US        |    176602 | NS      | $3576199.37   | 4.97%             |  |  |  | No            |                  1 | On Loan: No      |
| DEVELOPED INTERNATIONAL INDEX         | DEVELOPED INTERNATIONAL INDEX         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | RF                | US        |     95481 | NS      | $2146411.13   | 2.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Penn Series Quality Bond Fund         | Penn Series Quality Bond Fund         | CUSIP: 000000000<br>LEI: 6EJYQY10X26QDQ79NP61 | Long             | EC               | RF                | US        |   1894076 | NS      | $32748578.81  | 45.49%            |  |  |  | No            |                  1 | On Loan: No      |
| LIMITED MATURITY BOND FUND            | LIMITED MATURITY BOND FUND            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | RF                | US        |    283636 | NS      | $4291416.18   | 5.96%             |  |  |  | No            |                  1 | On Loan: No      |
| SMALL CAP INDEX FUND                  | SMALL CAP INDEX FUND                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | RF                | US        |     18862 | NS      | $724856.01    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| REIT FUND                             | REIT FUND                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | RF                | US        |     82249 | NS      | $2874609.47   | 3.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Penn Series International Equity Fund | Penn Series International Equity Fund | CUSIP: 000000000<br>LEI: 1M74GDLH06HJWJRYBR07 | Long             | EC               | RF                | US        |     61113 | NS      | $2836866.06   | 3.94%             |  |  |  | No            |                  1 | On Loan: No      |
| FLEXIBLY MANAGED FUND                 | FLEXIBLY MANAGED FUND                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | RF                | US        |     48808 | NS      | $5765211.24   | 8.01%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

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

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

**Signature:** Steven Viola

**Name of Signer:** Steven Viola

**Title:** Treasurer