# EDGAR Filing Document

**Accession Number:** 0000702340
**File Stem:** 0000940400-25-009786
**Filing Date:** 2025-11
**Character Count:** 14044
**Document Hash:** df218809b0ef7d5740f7a9c24d943130
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-009786.hdr.sgml**: 20251124

**ACCESSION NUMBER**: 0000940400-25-009786

**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:** 251513144

**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

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

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

## Nport-Ex

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

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

#### Moderate Allocation Fund<br>

---

| | | |
|:---|:---|:---|
|  | **Number of<br> Shares** | &nbsp;&nbsp;**Value†** |
| **AFFILIATED EQUITY FUNDS — 54.0%** | **AFFILIATED EQUITY FUNDS — 54.0%** | **AFFILIATED EQUITY FUNDS — 54.0%** |
| Penn Series Flexibly Managed Fund\* | &nbsp;&nbsp;&nbsp;&nbsp;145334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$17166873 |
| Penn Series Index 500 Fund\* | &nbsp;&nbsp;&nbsp;&nbsp;629143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38283337 |
| Penn Series Large Cap Growth Fund\* | &nbsp;&nbsp;&nbsp;&nbsp;39505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1914790 |
| Penn Series Large Cap Value Fund\* | &nbsp;&nbsp;&nbsp;&nbsp;104300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5714581 |
| Penn Series Large Core Growth Fund\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1906798 |
| Penn Series Large Core Value Fund\* | &nbsp;&nbsp;&nbsp;&nbsp;105789 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3830632 |
| Penn Series Large Growth Stock Fund\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5712661 |
| Penn Series Mid Cap Growth Fund\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3713658 |
| Penn Series Mid Core Value Fund\* | &nbsp;&nbsp;&nbsp;&nbsp;230971 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9566836 |
| Penn Series Real Estate Securities Fund\* | &nbsp;&nbsp;&nbsp;&nbsp;217708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7608901 |
| Penn Series Small Cap Index Fund\* | &nbsp;&nbsp;&nbsp;&nbsp;99853 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3837335 |
| Penn Series SMID Cap Growth Fund\* | &nbsp;&nbsp;&nbsp;&nbsp;36830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1870229 |
| Penn Series SMID Cap Value Fund\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1885498 |
| **TOTAL AFFILIATED EQUITY FUNDS<br> (Cost $69,722,277)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**103012129** |
| **AFFILIATED FIXED INCOME FUNDS — 36.5%** | **AFFILIATED FIXED INCOME FUNDS — 36.5%** | **AFFILIATED FIXED INCOME FUNDS — 36.5%** |
| Penn Series High Yield Bond Fund\* | &nbsp;&nbsp;&nbsp;&nbsp;373931 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7572098 |
| Penn Series Limited Maturity Bond Fund\* | &nbsp;&nbsp;&nbsp;&nbsp;375349 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5679035 |
| Penn Series Quality Bond Fund\* | 3269370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56527410 |
| **TOTAL AFFILIATED FIXED INCOME FUNDS<br> (Cost $64,039,218)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**69778543** |
| **AFFILIATED INTERNATIONAL EQUITY FUNDS — 8.9%** | **AFFILIATED INTERNATIONAL EQUITY FUNDS — 8.9%** | **AFFILIATED INTERNATIONAL EQUITY FUNDS — 8.9%** |
| Penn Series Developed International Index Fund\* | &nbsp;&nbsp;&nbsp;&nbsp;336979 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7575286 |
| Penn Series Emerging Markets Equity Fund\* | &nbsp;&nbsp;&nbsp;&nbsp;146752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1906302 |
| Penn Series International Equity Fund\* | &nbsp;&nbsp;&nbsp;&nbsp;161756 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7508696 |
| **TOTAL AFFILIATED INTERNATIONAL EQUITY FUNDS<br> (Cost $12,626,371)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**16990284** |
| **TOTAL INVESTMENTS — 99.4%<br> (Cost $146,387,866)** |  | &nbsp;&nbsp;**$189780956** |
| **Other Assets & Liabilities — 0.6%** | **Other Assets & Liabilities — 0.6%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1074968** |
| **TOTAL NET ASSETS — 100.0%** |  | &nbsp;&nbsp;**$190855924** |

---

------

† 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 Moderate Allocation Fund

- **b. EDGAR series identifier (if any):** S000022087

- **c. LEI of Series:** 549300T0ZXOAXTMKBR43

**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:** $191159132.75

**Total Liabilities:** $292948.86

**Net Assets:** $190866183.89

**Cash Not Reported:** $1165000.00

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000063378 | 0.52%                | 1.71%                | 1.65%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1151048.82              | $-157207.69                                |
| Month 2  | $828364.72               | $2502329.97                                |
| Month 3  | $2176954.47              | $972955.62                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| LIMITED MATURITY BOND FUND            | LIMITED MATURITY BOND FUND            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | RF                | US        |    375771 | NS      | $5685422.14   | 2.98%             |  |  |  | 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        |    374351 | NS      | $7580613.85   | 3.97%             |  |  |  | No            |                  1 | On Loan: No      |
| SMALL CAP INDEX FUND                  | SMALL CAP INDEX FUND                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | RF                | US        |     99963 | NS      | $3841592.81   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| MID CORE VALUE FUND                   | MID CORE VALUE FUND                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | RF                | US        |    231228 | NS      | $9577481.07   | 5.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Penn Series Quality Bond Fund         | Penn Series Quality Bond Fund         | CUSIP: 000000000<br>LEI: 6EJYQY10X26QDQ79NP61 | Long             | EC               | RF                | US        |   3273064 | NS      | $56591281.92  | 29.65%            |  |  |  | No            |                  1 | On Loan: No      |
| LARGE CORE GROWTH FUND                | LARGE CORE GROWTH FUND                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | RF                | US        |     47450 | NS      | $1908927.38   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| DEVELOPED INTERNATIONAL INDEX         | DEVELOPED INTERNATIONAL INDEX         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | RF                | US        |    337358 | NS      | $7583802.02   | 3.97%             |  |  |  | No            |                  1 | On Loan: No      |
| MID CAP GROWTH FUND                   | MID CAP GROWTH FUND                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | RF                | US        |     91439 | NS      | $3717916.20   | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| LARGE GROWTH STOCK                    | LARGE GROWTH STOCK                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | RF                | US        |     52238 | NS      | $5719047.77   | 3.00%             |  |  |  | No            |                  1 | On Loan: No      |
| SMID CAP VALUE FUND                   | SMID CAP VALUE FUND                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | RF                | US        |     44238 | NS      | $1887626.84   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| LARGE CAP GROWTH FUND                 | LARGE CAP GROWTH FUND                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | RF                | US        |     39549 | NS      | $1916919.38   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| SMID CAP GROWTH FUND                  | SMID CAP GROWTH FUND                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | RF                | US        |     36872 | NS      | $1872358.43   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| REIT FUND                             | REIT FUND                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | RF                | US        |    217952 | NS      | $7617417.30   | 3.99%             |  |  |  | No            |                  1 | On Loan: No      |
| LARGE CORE VALUE FUND                 | LARGE CORE VALUE FUND                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | RF                | US        |    105907 | NS      | $3834890.15   | 2.01%             |  |  |  | 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        |    104416 | NS      | $5720967.98   | 3.00%             |  |  |  | No            |                  1 | On Loan: No      |
| INDEX 500 FUND                        | INDEX 500 FUND                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | RF                | US        |    629843 | NS      | $38325918.68  | 20.08%            |  |  |  | No            |                  1 | On Loan: No      |
| Penn Series International Equity Fund | Penn Series International Equity Fund | CUSIP: 000000000<br>LEI: 1M74GDLH06HJWJRYBR07 | Long             | EC               | RF                | US        |    161939 | NS      | $7517212.09   | 3.94%             |  |  |  | No            |                  1 | On Loan: No      |
| FLEXIBLY MANAGED FUND                 | FLEXIBLY MANAGED FUND                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | RF                | US        |    145496 | NS      | $17186034.41  | 9.00%             |  |  |  | No            |                  1 | On Loan: No      |
| EMERGING MARKETS EQUITY FUND          | EMERGING MARKETS EQUITY FUND          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | RF                | US        |    146915 | NS      | $1908431.18   | 1.00%             |  |  |  | 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