# EDGAR Filing Document

**Accession Number:** 0000702340
**File Stem:** 0000940400-26-020246
**Filing Date:** 2026-5
**Character Count:** 35969
**Document Hash:** 5d2ede5de53691e543057b8d190b3b16
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-020246.hdr.sgml**: 20260521

**ACCESSION NUMBER**: 0000940400-26-020246

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260521

**DATE AS OF CHANGE**: 20260521

**PERIOD START**: 20261231

**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:** 261007336

**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

### Emerging Markets Equity Fund (Series ID: S000022084)

| Class ID   | Class Name                   | Ticker Symbol   |
|:---|:---|:---|
| C000063375 | Emerging Markets Equity Fund |  |

## Nport-Ex

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

#### Schedule of Investments — March 31, 2026 (Unaudited)<br>

#### Emerging Markets Equity Fund<br>

---

| | | |
|:---|:---|:---|
|  | **Number of<br> Shares** | &nbsp;&nbsp;**Value†** |
| **COMMON STOCKS — 99.1%** | **COMMON STOCKS — 99.1%** | **COMMON STOCKS — 99.1%** |
| **Brazil — 3.4%** | **Brazil — 3.4%** | **Brazil — 3.4%** |
| Cia de Saneamento Basico do Estado de Sao Paulo SABESP | &nbsp;&nbsp;&nbsp;&nbsp;52327 | &nbsp;&nbsp;$1602480 |
| TOTVS S.A. | &nbsp;&nbsp;&nbsp;89086 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;602466 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2204946 |
| **China — 14.5%** | **China — 14.5%** | **China — 14.5%** |
| Contemporary Amperex Technology Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;38192 | &nbsp;&nbsp;&nbsp;&nbsp;2259670 |
| Eastroc Beverage Group Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;6158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182979 |
| Eastroc Beverage Group Co., Ltd., Class H\* | &nbsp;&nbsp;&nbsp;&nbsp;12769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;328621 |
| NetEase, Inc. | &nbsp;&nbsp;&nbsp;48285 | &nbsp;&nbsp;&nbsp;&nbsp;1078919 |
| Nongfu Spring Co., Ltd., Class H@ | &nbsp;&nbsp;&nbsp;181811 | &nbsp;&nbsp;&nbsp;&nbsp;1099419 |
| Shenzhen Inovance Technology Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;87720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;859344 |
| Tencent Holdings Ltd. | &nbsp;&nbsp;&nbsp;56947 | &nbsp;&nbsp;&nbsp;&nbsp;3591783 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;9400735 |
| **Greece — 1.6%** | **Greece — 1.6%** | **Greece — 1.6%** |
| Eurobank S.A. | 254785 | &nbsp;&nbsp;&nbsp;&nbsp;1020168 |
| **Hong Kong — 10.9%** | **Hong Kong — 10.9%** | **Hong Kong — 10.9%** |
| AIA Group Ltd. | &nbsp;&nbsp;259214 | &nbsp;&nbsp;&nbsp;&nbsp;2880212 |
| Alibaba Group Holding Ltd. | &nbsp;&nbsp;&nbsp;64063 | &nbsp;&nbsp;&nbsp;&nbsp;1004155 |
| Hong Kong Exchanges & Clearing Ltd. | &nbsp;&nbsp;&nbsp;19854 | &nbsp;&nbsp;&nbsp;&nbsp;1001594 |
| Prudential PLC | &nbsp;&nbsp;&nbsp;62801 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;873129 |
| Techtronic Industries Co., Ltd. | &nbsp;&nbsp;&nbsp;99726 | &nbsp;&nbsp;&nbsp;&nbsp;1324385 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;7083475 |
| **India — 11.0%** | **India — 11.0%** | **India — 11.0%** |
| Bajaj Finance Ltd. | &nbsp;&nbsp;&nbsp;64969 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;555919 |
| Bharat Electronics Ltd. | 400679 | &nbsp;&nbsp;&nbsp;&nbsp;1714606 |
| Bharti Airtel Ltd. | &nbsp;&nbsp;&nbsp;84866 | &nbsp;&nbsp;&nbsp;&nbsp;1612742 |
| Eicher Motors Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;6507 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455611 |
| ICICI Bank Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;51123 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;656279 |
| Max Healthcare Institute Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;19274 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197767 |
| Power Grid Corp. of India Ltd. | &nbsp;&nbsp;516700 | &nbsp;&nbsp;&nbsp;&nbsp;1626722 |
| Titan Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;7390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310400 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;7130046 |
| **Mexico — 2.4%** | **Mexico — 2.4%** | **Mexico — 2.4%** |
| Arca Continental S.A.B. de C.V. | &nbsp;&nbsp;&nbsp;132517 | &nbsp;&nbsp;&nbsp;&nbsp;1526426 |
| **Philippines — 1.4%** | **Philippines — 1.4%** | **Philippines — 1.4%** |
| International Container Terminal Services, Inc. | &nbsp;&nbsp;&nbsp;79383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;899993 |
| **Saudi Arabia — 1.0%** | **Saudi Arabia — 1.0%** | **Saudi Arabia — 1.0%** |
| The Saudi National Bank | &nbsp;&nbsp;&nbsp;57294 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;646782 |
| **Singapore — 2.8%** | **Singapore — 2.8%** | **Singapore — 2.8%** |
| Singapore Technologies Engineering Ltd. | 198806 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1687313 |
| Trip.com Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2781 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137434 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1824747 |
| **South Africa — 5.2%** | **South Africa — 5.2%** | **South Africa — 5.2%** |
| Capitec Bank Holdings Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;8640 | &nbsp;&nbsp;&nbsp;&nbsp;2122797 |

---

---

| | | |
|:---|:---|:---|
|  | **Number of<br> Shares** | &nbsp;&nbsp;**Value†** |
| **South Africa — (continued)** | **South Africa — (continued)** | **South Africa — (continued)** |
| Clicks Group Ltd. | &nbsp;&nbsp;&nbsp;10126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$173218 |
| Naspers Ltd., Class N | &nbsp;&nbsp;20240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1046955 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3342970 |
| **South Korea — 15.1%** | **South Korea — 15.1%** | **South Korea — 15.1%** |
| HD Hyundai Electric Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;2067 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1171344 |
| KB Financial Group, Inc. | &nbsp;&nbsp;&nbsp;12613 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1238224 |
| Samsung Electronics Co., Ltd. | &nbsp;&nbsp;33682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3939494 |
| Samsung Fire & Marine Insurance Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;1941 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;581390 |
| SK hynix, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;5016 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2845904 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9776356 |
| **Switzerland — 1.5%** | **Switzerland — 1.5%** | **Switzerland — 1.5%** |
| Coca-Cola HBC AG\* | &nbsp;&nbsp;&nbsp;17006 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;957934 |
| **Taiwan — 20.8%** | **Taiwan — 20.8%** | **Taiwan — 20.8%** |
| Accton Technology Corp. | &nbsp;&nbsp;&nbsp;41215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2033432 |
| Airtac International Group | &nbsp;&nbsp;30244 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;963285 |
| ASPEED Technology, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;2776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;956873 |
| Delta Electronics, Inc. | &nbsp;&nbsp;14646 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;660393 |
| Elite Material Co., Ltd. | &nbsp;&nbsp;26633 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2273032 |
| MediaTek, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;2620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125669 |
| Taiwan Semiconductor Manufacturing Co., Ltd. | &nbsp;&nbsp;111791 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6465379 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13478063 |
| **Thailand — 1.7%** | **Thailand — 1.7%** | **Thailand — 1.7%** |
| Advanced Info Service PCL | &nbsp;&nbsp;&nbsp;97534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1113273 |
| **United Arab Emirates — 1.1%** | **United Arab Emirates — 1.1%** | **United Arab Emirates — 1.1%** |
| Abu Dhabi Commercial Bank PJSC | 168247 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;574430 |
| Emaar Properties PJSC | &nbsp;&nbsp;&nbsp;47259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154652 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;729082 |
| **United Kingdom — 1.1%** | **United Kingdom — 1.1%** | **United Kingdom — 1.1%** |
| Lion Finance Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;5516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;684644 |
| **United States — 3.3%** | **United States — 3.3%** | **United States — 3.3%** |
| PriceSmart, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2127317 |
| **Uruguay — 0.3%** | **Uruguay — 0.3%** | **Uruguay — 0.3%** |
| MercadoLibre, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197108 |
| **TOTAL COMMON STOCKS<br> (Cost $53,855,684)** |  | &nbsp;&nbsp;&nbsp;&nbsp;**64144065** |
| **PREFERRED STOCKS — 2.3%** | **PREFERRED STOCKS — 2.3%** | **PREFERRED STOCKS — 2.3%** |
| **Brazil — 2.3%** | **Brazil — 2.3%** | **Brazil — 2.3%** |
| Itau Unibanco Holding S.A.<br> **(Cost $1,363,761)** | 177054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1486203 |

---

------

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

#### Schedule of Investments — March 31, 2026 (Unaudited)<br>

#### Emerging Markets Equity Fund<br>

---

| | | |
|:---|:---|:---|
|  | **Number of<br> Shares** | &nbsp;&nbsp;**Value†** |
| **SHORT-TERM INVESTMENTS — 0.8%** | **SHORT-TERM INVESTMENTS — 0.8%** | **SHORT-TERM INVESTMENTS — 0.8%** |
| BlackRock Liquidity FedFund - Institutional Shares (seven-day effective yield 3.546%)<br> **(Cost $542,651)** | 542651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$**542651** |
| **TOTAL INVESTMENTS — 102.2%<br> (Cost $55,762,096)** |  | &nbsp;&nbsp;**$66172919** |
| **Other Assets & Liabilities — (2.2)%** | **Other Assets & Liabilities — (2.2)%** | &nbsp;&nbsp;&nbsp;&nbsp;**(1453226)** |
| **TOTAL NET ASSETS — 100.0%** |  | &nbsp;&nbsp;**$64719693** |

---

------

---

| | |
|:---|:---|
| † | See Security Valuation Note in the most recent semi-annual or annual report. |
| \* | Non-income producing security. |
| @ | Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. At March 31, 2026, the aggregate value of Rule 144A securities was $1,099,419, which represents 1.7% of the Fund's net assets. |

---

---

| |
|:---|
| AG— Aktiengesellschaft. |
| PCL— Public Company Limited. |
| PJSC— Private Joint Stock Company. |
| PLC— Public Limited Company. |
| S.A.— Societe Anonyme. |
| S.A.B. de C.V.— Sociedad Anonima de Capital Variable. |

---

---

| | |
|:---|:---|
| **Country Weightings as of 3/31/2026††** | **Country Weightings as of 3/31/2026††** |
| Taiwan | &nbsp;&nbsp;&nbsp;20% |
| South Korea | &nbsp;&nbsp;&nbsp;15 |
| China | &nbsp;&nbsp;&nbsp;14 |
| India | &nbsp;&nbsp;&nbsp;&nbsp;11 |
| Hong Kong | &nbsp;&nbsp;&nbsp;&nbsp;11 |
| Brazil | &nbsp;&nbsp;&nbsp;&nbsp;6 |
| South Africa | &nbsp;&nbsp;&nbsp;&nbsp;5 |
| Other | &nbsp;&nbsp;&nbsp;18 |
| Total | 100% |

---

---

| | |
|:---|:---|
| †† | % of total investments as of March 31, 2026. |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS<br> INDUSTRY DIVERSIFICATION** | **% of Market<br> Value** | **Value†** |
| Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;5.3% | &nbsp;&nbsp;$3401919 |
| Auto Parts & Equipment | &nbsp;&nbsp;&nbsp;&nbsp;3.5 | &nbsp;&nbsp;&nbsp;&nbsp;2259670 |
| Banks | &nbsp;&nbsp;&nbsp;&nbsp;5.6 | &nbsp;&nbsp;&nbsp;&nbsp;3582303 |
| Beverages | &nbsp;&nbsp;&nbsp;&nbsp;6.4 | &nbsp;&nbsp;&nbsp;&nbsp;4095379 |
| Commercial Services | &nbsp;&nbsp;&nbsp;&nbsp;1.4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;899993 |
| Diversified Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;7.7 | &nbsp;&nbsp;&nbsp;&nbsp;4918534 |
| Electric | &nbsp;&nbsp;&nbsp;&nbsp;2.5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1626722 |
| Electrical Components & Equipment | &nbsp;&nbsp;&nbsp;&nbsp;1.0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;660393 |
| Electronics | &nbsp;&nbsp;&nbsp;&nbsp;4.9 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3132376 |
| Hand & Machine Tools | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1324385 |
| Healthcare Services | &nbsp;&nbsp;&nbsp;&nbsp;0.3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197767 |
| Insurance | &nbsp;&nbsp;&nbsp;&nbsp;6.8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4334731 |
| Internet | &nbsp;&nbsp;&nbsp;&nbsp;9.3 | &nbsp;&nbsp;&nbsp;&nbsp;5977435 |
| Leisure Time | &nbsp;&nbsp;&nbsp;&nbsp;0.7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455611 |
| Machinery — Construction & Mining | &nbsp;&nbsp;&nbsp;&nbsp;1.8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1171344 |
| Miscellaneous Manufacturing | &nbsp;&nbsp;&nbsp;&nbsp;1.5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;963285 |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS<br> INDUSTRY DIVERSIFICATION** | **% of Market<br> Value** | **Value†** |
| Real Estate | &nbsp;&nbsp;&nbsp;&nbsp;0.2% | &nbsp;&nbsp;&nbsp;&nbsp;$154652 |
| Retail | &nbsp;&nbsp;&nbsp;&nbsp;4.1 | &nbsp;&nbsp;&nbsp;&nbsp;2610935 |
| Semiconductors | &nbsp;&nbsp;&nbsp;22.4 | &nbsp;&nbsp;&nbsp;&nbsp;14333319 |
| Software | &nbsp;&nbsp;&nbsp;&nbsp;2.6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1681385 |
| Telecommunications | &nbsp;&nbsp;&nbsp;&nbsp;7.4 | &nbsp;&nbsp;&nbsp;&nbsp;4759447 |
| Water | &nbsp;&nbsp;&nbsp;&nbsp;2.5 | &nbsp;&nbsp;&nbsp;&nbsp;1602480 |
|  | 100.0% | $64144065 |

---

## 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 Emerging Markets Equity Fund

- **b. EDGAR series identifier (if any):** S000022084

- **c. LEI of Series:** DT74AQBKRGCSEQFXTZ04

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-12-31

- **b. Date as of which information is reported:** 2026-03-31

**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:** $66884438.19

**Total Liabilities:** $977150.59

**Net Assets:** $65907287.60

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000063375 | 6.86%                | 5.53%                | -8.57%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1233331.30              | $3346618.19                                |
| Month 2  | $1674052.20              | $2355609.37                                |
| Month 3  | $1115327.62              | $-7583947.66                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| TENCENT HOLDINGS LTD                                           | Tencent Holdings Ltd. HKD0.00002                                       | CUSIP: 000000000<br>LEI: 254900N4SLUMW4XUYY11 | Long             | EC               | CORP              | KY        |     56947 | NS      | $3591782.89   | 5.45%             |  |  |  | No            |                  2 | On Loan: No      |
| Contemporary Amperex Technology Co Ltd.                        | Contemporary Amperex Technology Co Ltd. 'A' CNY1                       | CUSIP: 000000000<br>LEI: 300300KINDY1K0E9I032 | Long             | EC               | CORP              | CN        |     38192 | NS      | $2259670.27   | 3.43%             |  |  |  | No            |                  2 | On Loan: No      |
| Bharat Electronics Ltd.                                        | Bharat Electronics Ltd. INR1                                           | CUSIP: 000000000<br>LEI: 335800HS8AOTM9W1F335 | Long             | EC               | CORP              | IN        |    400679 | NS      | $1714606.01   | 2.60%             |  |  |  | No            |                  2 | On Loan: No      |
| Techtronic Industries Co. Ltd.                                 | Techtronic Industries Co. Ltd. NPV                                     | CUSIP: 000000000<br>LEI: 549300HZW2SBE758OK89 | Long             | EC               | CORP              | HK        |     99726 | NS      | $1324384.80   | 2.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Pricesmart Inc                                                 | Pricesmart Inc COM                                                     | CUSIP: 741511109<br>LEI: 549300JVYOSTGVSDZS46 | Long             | EC               | CORP              | US        |     14476 | NS      | $2178638.00   | 3.31%             |  |  |  | No            |                  1 | On Loan: No      |
| HD Hyundai Electric Co Ltd.                                    | HD Hyundai Electric Co Ltd. KRW5000                                    | CUSIP: 000000000<br>LEI: 988400CSDKM9UHLHGB91 | Long             | EC               | CORP              | KR        |      2067 | NS      | $1171344.23   | 1.78%             |  |  |  | No            |                  2 | On Loan: No      |
| Eastroc Beverage Group Co Ltd.                                 | Eastroc Beverage Group Co Ltd. CNY1 H                                  | CUSIP: 000000000<br>LEI: 836800LQ338417RCIL29 | Long             | EC               | CORP              | CN        |     12769 | NS      | $328621.15    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co., Ltd.                   | Taiwan Semiconductor Manufacturing Co., Ltd. TWD10                     | CUSIP: 000000000<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |    111791 | NS      | $6465379.37   | 9.81%             |  |  |  | No            |                  2 | On Loan: No      |
| Max Healthcare Institute Ltd.                                  | Max Healthcare Institute Ltd. INR10                                    | CUSIP: 000000000<br>LEI: 3358005LALYV4GZOYF67 | Long             | EC               | CORP              | IN        |     19274 | NS      | $197767.20    | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Prudential PLC                                                 | Prudential PLC GBP0.05                                                 | CUSIP: 000000000<br>LEI: 5493001Z3ZE83NGK8Y12 | Long             | EC               | CORP              | GB        |     62801 | NS      | $873129.56    | 1.32%             |  |  |  | No            |                  2 | On Loan: No      |
| Nongfu Spring Co Ltd.                                          | Nongfu Spring Co Ltd. CNY1 H                                           | CUSIP: 000000000<br>LEI: 300300P08GGT4SKR9G93 | Long             | EC               | CORP              | CN        |    181811 | NS      | $1099418.88   | 1.67%             |  |  |  | No            |                  2 | On Loan: No      |
| KB Financial Group Inc.                                        | KB Financial Group Inc. KRW5000                                        | CUSIP: 000000000<br>LEI: 529900TKE4MXG3Q6GW86 | Long             | EC               | CORP              | KR        |     12613 | NS      | $1238224.04   | 1.88%             |  |  |  | No            |                  2 | On Loan: No      |
| Samsung Electronics Co Ltd.                                    | Samsung Electronics Co Ltd. KRW100                                     | CUSIP: 000000000<br>LEI: 9884007ER46L6N7EI764 | Long             | EC               | CORP              | KR        |     33682 | NS      | $3939493.59   | 5.98%             |  |  |  | No            |                  2 | On Loan: No      |
| Bajaj Finance Ltd.                                             | Bajaj Finance Ltd. INR1(POST SUBD)                                     | CUSIP: 000000000<br>LEI: 335800YTEXC3DO4Z6F68 | Long             | EC               | CORP              | IN        |     64969 | NS      | $555919.20    | 0.84%             |  |  |  | No            |                  2 | On Loan: No      |
| Accton Technology Corp.                                        | Accton Technology Corp. TWD10                                          | CUSIP: 000000000<br>LEI: 529900M1YRZ0GWMDF920 | Long             | EC               | CORP              | TW        |     41215 | NS      | $2033431.63   | 3.09%             |  |  |  | No            |                  2 | On Loan: No      |
| BlackRock Liquidity Funds                                      | BlackRock Liquidity Funds FEDFUND INSTL                                | CUSIP: 09248U700<br>LEI: 5493007YVNX55LTRQ706 | Long             | STIV             | RF                | US        |   1031909 | NS      | $1031909.18   | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Fire & Marine Insurance Co Ltd                         | Samsung Fire & Marine Insurance Co Ltd KRW500                          | CUSIP: 000000000<br>LEI: 988400JMBDK47EW0Z936 | Long             | EC               | CORP              | KR        |      1941 | NS      | $581390.39    | 0.88%             |  |  |  | No            |                  2 | On Loan: No      |
| Power Grid Corporation of India Ltd.                           | Power Grid Corporation of India Ltd. INR10                             | CUSIP: 000000000<br>LEI: 3358009SHWZ3DZEQ4Z56 | Long             | EC               | NUSS              | IN        |    516700 | NS      | $1626721.93   | 2.47%             |  |  |  | No            |                  2 | On Loan: No      |
| SHENZHEN INOVANCE TECHNOLOGY CO LTD                            | Shenzhen Inovance Technology Co Ltd. 'A'CNY1                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |     87720 | NS      | $859343.91    | 1.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Titan Co Ltd.                                                  | Titan Co Ltd. INR1                                                     | CUSIP: 000000000<br>LEI: 549300RO9VJWPK37FE54 | Long             | EC               | CORP              | IN        |      7390 | NS      | $310400.00    | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| Companhia de Saneamento Basico do Estado de Sao Paulo - SABESP | Companhia de Saneamento Basico do Estado de Sao Paulo - SABESP COM NPV | CUSIP: 000000000<br>LEI: 254900UOXRZRS2TNWP19 | Long             | EC               | CORP              | BR        |     52327 | NS      | $1602480.05   | 2.43%             |  |  |  | No            |                  1 | On Loan: No      |
| ALIBABA GROUP HOLDING LTD                                      | Alibaba Group Holding Ltd. USD0.000003125                              | CUSIP: 000000000<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | KY        |     64063 | NS      | $1004154.81   | 1.52%             |  |  |  | No            |                  2 | On Loan: No      |
| TCOM/TRIP.COM GROUP LTD                                        | Trip.com Group Ltd. USD0.00125                                         | CUSIP: 000000000<br>LEI: 2549004RMYDSRQL4KW41 | Long             | EC               | CORP              | KY        |      2781 | NS      | $137433.48    | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Emaar Properties PJSC                                          | Emaar Properties PJSC AED1                                             | CUSIP: 000000000<br>LEI: 254900YWYEXYXK1BMP81 | Long             | EC               | CORP              | AE        |     47259 | NS      | $154652.14    | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Delta Electronics Inc.                                         | Delta Electronics Inc. TWD10                                           | CUSIP: 000000000<br>LEI: 529900UVZWNWGDLJSM52 | Long             | EC               | CORP              | TW        |     14646 | NS      | $660393.58    | 1.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ICICI Bank Ltd.                                                | ICICI Bank Ltd. INR2                                                   | CUSIP: 000000000<br>LEI: R7RX8ER1V4666J8D1I38 | Long             | EC               | CORP              | IN        |     51123 | NS      | $656278.92    | 1.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Mercadolibre Inc                                               | Mercadolibre Inc COM                                                   | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | US        |       122 | NS      | $210940.44    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| International Container Terminal Services Inc.                 | International Container Terminal Services Inc. PHP1                    | CUSIP: 000000000<br>LEI: 254900FU1MWK0I0Q4J61 | Long             | EC               | CORP              | PH        |     79383 | NS      | $899992.57    | 1.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Eicher Motors Ltd.                                             | Eicher Motors Ltd. INR1                                                | CUSIP: 000000000<br>LEI: 25490059S64CN2OY7239 | Long             | EC               | CORP              | IN        |      6507 | NS      | $455610.59    | 0.69%             |  |  |  | No            |                  2 | On Loan: No      |
| Naspers Limited                                                | Naspers Limited NPV(POST SPLT)                                         | CUSIP: 000000000<br>LEI: 21380044BQ8812EEKT59 | Long             | EC               | CORP              | ZA        |     20240 | NS      | $1046954.65   | 1.59%             |  |  |  | No            |                  2 | On Loan: No      |
| Clicks Group Ltd.                                              | Clicks Group Ltd. ZAR0.01                                              | CUSIP: 000000000<br>LEI: 378900E967958A677472 | Long             | EC               | CORP              | ZA        |     10126 | NS      | $173218.41    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Arca Continental S.A.B. de C.V.                                | Arca Continental S.A.B. de C.V. COM NPV                                | CUSIP: 000000000<br>LEI: 254900U2BSJCQHJCXN24 | Long             | EC               | CORP              | MX        |    132517 | NS      | $1526426.08   | 2.32%             |  |  |  | No            |                  1 | On Loan: No      |
| MediaTek Inc.                                                  | MediaTek Inc. TWD10                                                    | CUSIP: 000000000<br>LEI: 254900UEGBK1I4DM4E14 | Long             | EC               | CORP              | TW        |      2620 | NS      | $125668.76    | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Singapore Technologies Engineering Ltd.                        | Singapore Technologies Engineering Ltd. NPV                            | CUSIP: 000000000<br>LEI: 254900OEXGGWCR24DG90 | Long             | EC               | CORP              | SG        |    198806 | NS      | $1687313.24   | 2.56%             |  |  |  | No            |                  2 | On Loan: No      |
| Lion Finance Group PLC                                         | Lion Finance Group PLC ORD GBP0.01                                     | CUSIP: 000000000<br>LEI: 213800XKDG12NQG8VC53 | Long             | EC               | CORP              | GB        |      5516 | NS      | $684643.71    | 1.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Hong Kong Exchanges & Clearing Ltd.                            | Hong Kong Exchanges & Clearing Ltd. NPV                                | CUSIP: 000000000<br>LEI: 213800YTVSXYQN17BW16 | Long             | EC               | CORP              | HK        |     19854 | NS      | $1001594.56   | 1.52%             |  |  |  | No            |                  2 | On Loan: No      |
| Capitec Bank Holdings Ltd                                      | Capitec Bank Holdings Ltd ZAR0.01                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | ZA        |      8640 | NS      | $2122797.29   | 3.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Totvs SA                                                       | Totvs SA COM NPV                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |     89086 | NS      | $602465.82    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Itau Unibanco Holding SA                                       | Itau Unibanco Holding SA PRF NPV                                       | CUSIP: 000000000<br>LEI: 5493002W2IVG62O3ZJ94 | Long             | EP               | CORP              | BR        |    177054 | NS      | $1486202.87   | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Eurobank S.A.                                                  | Eurobank S.A. EUR0.22                                                  | CUSIP: 000000000<br>LEI: 213800KGF4EFNUQKAT69 | Long             | EC               | CORP              | GR        |    254785 | NS      | $1020167.88   | 1.55%             |  |  |  | No            |                  2 | On Loan: No      |
| SK Hynix Inc.                                                  | SK Hynix Inc. KRW5000                                                  | CUSIP: 000000000<br>LEI: 988400XAIK6XISWQV045 | Long             | EC               | CORP              | KR        |      5016 | NS      | $2845903.47   | 4.32%             |  |  |  | No            |                  2 | On Loan: No      |
| Bharti Airtel Ltd.                                             | Bharti Airtel Ltd. INR5                                                | CUSIP: 000000000<br>LEI: 335800KQ1FPKOQ84OR26 | Long             | EC               | CORP              | IN        |     84866 | NS      | $1612741.96   | 2.45%             |  |  |  | No            |                  2 | On Loan: No      |
| Coca-Cola HBC AG                                               | Coca-Cola HBC AG ORD CHF6.70(CDI)                                      | CUSIP: 000000000<br>LEI: 549300EFP3TNG7JGVE49 | Long             | EC               | CORP              | CH        |     17006 | NS      | $957934.44    | 1.45%             |  |  |  | No            |                  2 | On Loan: No      |
| Airtac International Group                                     | Airtac International Group TWD10                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     30244 | NS      | $963285.25    | 1.46%             |  |  |  | No            |                  2 | On Loan: No      |
| Abu Dhabi Commercial Bank PJSC                                 | Abu Dhabi Commercial Bank PJSC AED1                                    | CUSIP: 000000000<br>LEI: 213800RWVKKIRX1AUH58 | Long             | EC               | CORP              | AE        |    168247 | NS      | $574429.42    | 0.87%             |  |  |  | No            |                  2 | On Loan: No      |
| NETEASE INC                                                    | NetEase Inc. USD0.0001                                                 | CUSIP: 000000000<br>LEI: 5299004AF4DSJDB0PA32 | Long             | EC               | CORP              | KY        |     48285 | NS      | $1078919.30   | 1.64%             |  |  |  | No            |                  2 | On Loan: No      |
| ELITE MATERIAL COMPANY LTD                                     | Elite Material Co Ltd. TWD10                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     26633 | NS      | $2273032.05   | 3.45%             |  |  |  | No            |                  2 | On Loan: No      |
| Advanced Info Service Public Co Ltd.                           | Advanced Info Service Public Co Ltd. THB1(ALIEN)                       | CUSIP: 000000000<br>LEI: 529900DU2YW1NO5RMU78 | Long             | EC               | CORP              | TH        |     97534 | NS      | $1113272.62   | 1.69%             |  |  |  | No            |                  2 | On Loan: No      |
| ASPEED TECHNOLOGY INC                                          | ASPEED Technology Inc. TWD10                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |      2776 | NS      | $956872.65    | 1.45%             |  |  |  | No            |                  2 | On Loan: No      |
| Eastroc Beverage Group Co Ltd.                                 | Eastroc Beverage Group Co Ltd. A CNY1                                  | CUSIP: 000000000<br>LEI: 836800LQ338417RCIL29 | Long             | EC               | CORP              | CN        |      6158 | NS      | $182978.58    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Saudi National Bank (the)                                      | Saudi National Bank (the) SAR10                                        | CUSIP: 000000000<br>LEI: 5586006ZEFQ542K7CY16 | Long             | EC               | CORP              | SA        |     57294 | NS      | $646782.49    | 0.98%             |  |  |  | No            |                  2 | On Loan: No      |
| AIA Group Ltd, Hong Kong                                       | AIA Group Ltd, Hong Kong NPV                                           | CUSIP: 000000000<br>LEI: ZP5ILWVSYE4LJGMMVD57 | Long             | EC               | CORP              | HK        |    259214 | NS      | $2880211.74   | 4.37%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-21

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

**Signature:** Steven Viola

**Name of Signer:** Steven Viola

**Title:** Treasurer