# EDGAR Filing Document

**Accession Number:** 0000702340
**File Stem:** 0000940400-25-009795
**Filing Date:** 2025-11
**Character Count:** 24971
**Document Hash:** b4613178adb2b7793b3bb79438c43ff0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-009795.hdr.sgml**: 20251124

**ACCESSION NUMBER**: 0000940400-25-009795

**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:** 251513156

**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

### Real Estate Securities Fund (Series ID: S000006729)

| Class ID   | Class Name                  | Ticker Symbol   |
|:---|:---|:---|
| C000018292 | Real Estate Securities Fund |  |

## Nport-Ex

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

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

#### Real Estate Securities Fund<br>

---

| | | |
|:---|:---|:---|
|  | **Number of<br> Shares** | &nbsp;&nbsp;**Value†** |
| **COMMON STOCKS — 2.0%** | **COMMON STOCKS — 2.0%** | **COMMON STOCKS — 2.0%** |
| **Entertainment — 1.1%** | **Entertainment — 1.1%** | **Entertainment — 1.1%** |
| Caesars Entertainment, Inc.\* | &nbsp;&nbsp;&nbsp;41419 | &nbsp;&nbsp;&nbsp;&nbsp;$1119348 |
| **Healthcare Services — 0.3%** | **Healthcare Services — 0.3%** | **Healthcare Services — 0.3%** |
| PACS Group, Inc.\* | &nbsp;&nbsp;19587 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;268930 |
| **Lodging — 0.6%** | **Lodging — 0.6%** | **Lodging — 0.6%** |
| Boyd Gaming Corp. | &nbsp;&nbsp;&nbsp;&nbsp;7405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;640162 |
| **TOTAL COMMON STOCKS<br> (Cost $2,748,206)** | **TOTAL COMMON STOCKS<br> (Cost $2,748,206)** | &nbsp;&nbsp;&nbsp;&nbsp;**2028440** |
| **REAL ESTATE INVESTMENT TRUSTS — 96.1%** | **REAL ESTATE INVESTMENT TRUSTS — 96.1%** | **REAL ESTATE INVESTMENT TRUSTS — 96.1%** |
| **Apartments — 10.8%** | **Apartments — 10.8%** | **Apartments — 10.8%** |
| American Homes 4 Rent, Class A | &nbsp;&nbsp;45186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1502434 |
| Equity Residential | &nbsp;&nbsp;&nbsp;11094 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;718114 |
| Essex Property Trust, Inc. | &nbsp;&nbsp;&nbsp;11541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3089064 |
| Invitation Homes, Inc. | 115296 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3381632 |
| UDR, Inc. | &nbsp;&nbsp;52568 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1958684 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;**10649928** |
| **Diversified — 30.7%** | **Diversified — 30.7%** | **Diversified — 30.7%** |
| American Tower Corp. | &nbsp;&nbsp;26596 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5114943 |
| Crown Castle, Inc. | &nbsp;&nbsp;55544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5359440 |
| Digital Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;41691 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7207540 |
| Equinix, Inc. | &nbsp;&nbsp;&nbsp;4805 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3763468 |
| Lamar Advertising Co., Class A | &nbsp;&nbsp;&nbsp;&nbsp;3742 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;458096 |
| Outfront Media, Inc. | &nbsp;&nbsp;28365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;519647 |
| SBA Communications Corp. | &nbsp;&nbsp;22599 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4369517 |
| VICI Properties, Inc. | &nbsp;&nbsp;33703 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1099055 |
| Weyerhaeuser Co. | &nbsp;&nbsp;98522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2442360 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;**30334066** |
| **Healthcare — 16.3%** | **Healthcare — 16.3%** | **Healthcare — 16.3%** |
| CareTrust REIT, Inc. | &nbsp;&nbsp;38762 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1344266 |
| Healthcare Realty Trust, Inc. | 110855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1998716 |
| Omega Healthcare Investors, Inc. | &nbsp;&nbsp;35423 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1495559 |
| Welltower, Inc. | &nbsp;&nbsp;&nbsp;63143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11248294 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;**16086835** |
| **Hotels & Resorts — 2.8%** | **Hotels & Resorts — 2.8%** | **Hotels & Resorts — 2.8%** |
| Host Hotels & Resorts, Inc. | 161549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2749564 |
| **Industrial — 6.6%** | **Industrial — 6.6%** | **Industrial — 6.6%** |
| Americold Realty Trust, Inc. | &nbsp;&nbsp;22501 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275412 |
| EastGroup Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;5545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;938547 |
| Prologis, Inc. | &nbsp;&nbsp;46306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5302963 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6516922** |
| **Manufactured Homes — 3.5%** | **Manufactured Homes — 3.5%** | **Manufactured Homes — 3.5%** |
| Equity LifeStyle Properties, Inc. | &nbsp;&nbsp;&nbsp;12312 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;747338 |
| Sun Communities, Inc. | &nbsp;&nbsp;&nbsp;21453 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2767437 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3514775** |
| **Office Property — 4.5%** | **Office Property — 4.5%** | **Office Property — 4.5%** |
| BXP, Inc. | &nbsp;&nbsp;26391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1961907 |
| Highwoods Properties, Inc. | &nbsp;&nbsp;43858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1395561 |
| Hudson Pacific Properties, Inc.\* | &nbsp;&nbsp;96617 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;266663 |
| Kilroy Realty Corp. | &nbsp;&nbsp;21007 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;887546 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4511677** |

---

---

| | | |
|:---|:---|:---|
|  | **Number of<br> Shares** | &nbsp;&nbsp;**Value†** |
| **Regional Malls — 3.2%** | **Regional Malls — 3.2%** | **Regional Malls — 3.2%** |
| Simon Property Group, Inc. | &nbsp;&nbsp;&nbsp;16715 | &nbsp;&nbsp;&nbsp;$3136904 |
| **Single Tenant — 5.4%** | **Single Tenant — 5.4%** | **Single Tenant — 5.4%** |
| Agree Realty Corp. | &nbsp;&nbsp;46024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3269545 |
| Essential Properties Realty Trust, Inc. | &nbsp;&nbsp;16659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495772 |
| Realty Income Corp. | &nbsp;&nbsp;25881 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1573306 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5338623** |
| **Storage & Warehousing — 9.3%** | **Storage & Warehousing — 9.3%** | **Storage & Warehousing — 9.3%** |
| Extra Space Storage, Inc. | &nbsp;&nbsp;&nbsp;27573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3886139 |
| Iron Mountain, Inc. | &nbsp;&nbsp;&nbsp;32013 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3263405 |
| Public Storage | &nbsp;&nbsp;&nbsp;&nbsp;7027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2029749 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9179293** |
| **Strip Centers — 3.0%** | **Strip Centers — 3.0%** | **Strip Centers — 3.0%** |
| Kimco Realty Corp. | &nbsp;&nbsp;90343 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1973994 |
| Kite Realty Group Trust | &nbsp;&nbsp;43252 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;964520 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2938514** |
| **TOTAL REAL ESTATE INVESTMENT TRUSTS<br> (Cost $89,423,913)** |  | &nbsp;&nbsp;&nbsp;&nbsp;**94957101** |
| **WARRANTS — 0.5%** | **WARRANTS — 0.5%** | **WARRANTS — 0.5%** |
| Hudson Pacific Properties, Inc. Expiration Date 06/13/27\*<br> **(Cost $376,985)** | 169813 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**466986** |

---

**SHORT-TERM INVESTMENTS — 0.6%**

---

| | | |
|:---|:---|:---|
| BlackRock Liquidity FedFund - Institutional Shares (seven-day effective yield 4.027%)<br> **(Cost $632,208)** | 632208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**632208** |
| **TOTAL INVESTMENTS — 99.2%<br> (Cost $93,181,312)** |  | &nbsp;&nbsp;**$98084735** |
| **Other Assets & Liabilities — 0.8%** | **Other Assets & Liabilities — 0.8%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**766317** |
| **TOTAL NET ASSETS — 100.0%** |  | &nbsp;&nbsp;**$98851052** |

---

------

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

REIT— Real Estate Investment Trust.

## 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 Real Estate Securities Fund

- **b. EDGAR series identifier (if any):** S000006729

- **c. LEI of Series:** UZWBS4K4GGB4DCZL3T29

**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:** $98451164.37

**Total Liabilities:** $145214.64

**Net Assets:** $98305949.73

**Cash Not Reported:** $276416.53

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000018292 | -1.39%               | 2.05%                | 0.32%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-2049465.99             | $-181641.67                                |
| Month 2  | $436455.16               | $1394610.16                                |
| Month 3  | $-282750.66              | $79239.63                                  |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Kite Realty Group Trust               | Kite Realty Group Trust               | CUSIP: 49803T300<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     42150 | NS      | $939945.00    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthcare Realty Trust Inc           | Healthcare Realty Trust Inc           | CUSIP: 42226K105<br>LEI: 549300L0I14L7I0VLX84 | Long             | EC               | CORP              | US        |    110855 | NS      | $1998715.65   | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity LifeStyle Properties In        | Equity LifeStyle Properties Inc       | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               | CORP              | US        |     12312 | NS      | $747338.40    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Prologis Inc                          | Prologis Inc                          | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |     46306 | NS      | $5302963.12   | 5.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Omega Healthcare Investors Inc        | Omega Healthcare Investors Inc        | CUSIP: 681936100<br>LEI: 549300OJ7ENK42CZ8E73 | Long             | EC               | CORP              | US        |     35423 | NS      | $1495559.06   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Outfront Media Inc                    | Outfront Media Inc                    | CUSIP: 69007J304<br>LEI: 549300RZWDYU5722I639 | Long             | EC               | CORP              | US        |     28365 | NS      | $519646.80    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Simon Property Group Inc              | Simon Property Group Inc              | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |     16715 | NS      | $3136904.05   | 3.19%             |  |  |  | No            |                  1 | On Loan: No      |
| UDR Inc                               | UDR Inc                               | CUSIP: 902653104<br>LEI: P3CH2EG5X6Z1XWU1OO74 | Long             | EC               | CORP              | US        |     52568 | NS      | $1958683.68   | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Americold Realty Trust Inc            | Americold Realty Trust Inc            | CUSIP: 03064D108<br>LEI: 894500O3S3W62PQPO460 | Long             | EC               | CORP              | US        |     22501 | NS      | $275412.24    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Crown Castle Inc                      | Crown Castle Inc                      | CUSIP: 22822V101<br>LEI: 54930012H97VSM0I2R19 | Long             | EC               | CORP              | US        |     55544 | NS      | $5359440.56   | 5.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Hudson Pacific Properties Inc         | Hudson Pacific Properties Inc         | CUSIP: 444097109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     96617 | NS      | $266662.92    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| CareTrust REIT Inc                    | CareTrust REIT Inc                    | CUSIP: 14174T107<br>LEI: 5493001NVXE2B9GPLU96 | Long             | EC               | CORP              | US        |     38762 | NS      | $1344266.16   | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Sun Communities Inc                   | Sun Communities Inc                   | CUSIP: 866674104<br>LEI: 549300H5GEOJYN41ZG57 | Long             | EC               | CORP              | US        |     21453 | NS      | $2767437.00   | 2.82%             |  |  |  | No            |                  1 | On Loan: No      |
| HUDSON PACIFIC PROPERTIES INC Warrant | HUDSON PACIFIC PROPERTIES INC Warrant | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    169813 | NS      | $466985.75    | 0.48%             |  |  |  | No            |                  2 | On Loan: No      |
| Boyd Gaming Corp                      | Boyd Gaming Corp                      | CUSIP: 103304101<br>LEI: 254900787YGRYS2A1Z35 | Long             | EC               | CORP              | US        |      7405 | NS      | $640162.25    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Kilroy Realty Corp                    | Kilroy Realty Corp                    | CUSIP: 49427F108<br>LEI: 549300CXXI18B214UN80 | Long             | EC               | CORP              | US        |     23279 | NS      | $983537.75    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Welltower Inc                         | Welltower Inc                         | CUSIP: 95040Q104<br>LEI: 254900F33BIAR82QTA19 | Long             | EC               | CORP              | US        |     63143 | NS      | $11248294.02  | 11.44%            |  |  |  | No            |                  1 | On Loan: No      |
| Equinix Inc                           | Equinix Inc                           | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |      4805 | NS      | $3763468.20   | 3.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity Residential                    | Equity Residential                    | CUSIP: 29476L107<br>LEI: 5493008RACSH5EP3PI59 | Long             | EC               | CORP              | US        |     11094 | NS      | $718114.62    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Lamar Advertising Co                  | Lamar Advertising Co                  | CUSIP: 512816109<br>LEI: 529900Y8WW4MKVPTB543 | Long             | EC               | CORP              | US        |      3742 | NS      | $458095.64    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Digital Realty Trust Inc              | Digital Realty Trust Inc              | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               | CORP              | US        |     41691 | NS      | $7207540.08   | 7.33%             |  |  |  | No            |                  1 | On Loan: No      |
| American Homes 4 Rent                 | American Homes 4 Rent                 | CUSIP: 02665T306<br>LEI: 549300ZJUO7A58PNUW40 | Long             | EC               | CORP              | US        |     45186 | NS      | $1502434.50   | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Caesars Entertainment Inc             | Caesars Entertainment Inc             | CUSIP: 12769G100<br>LEI: 549300FA4CTCW903Y781 | Long             | EC               | CORP              | US        |     41419 | NS      | $1119348.48   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Host Hotels & Resorts Inc             | Host Hotels & Resorts Inc             | CUSIP: 44107P104<br>LEI: N6EL63S0K3PB1YFTDI24 | Long             | EC               | CORP              | US        |    161549 | NS      | $2749563.98   | 2.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Extra Space Storage Inc               | Extra Space Storage Inc               | CUSIP: 30225T102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     27573 | NS      | $3886138.62   | 3.95%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock Liquidity FedFund           | BlackRock Liquidity FedFund           | CUSIP: 09248U700<br>LEI: 549300T8K043VZEOVK74 | Long             | STIV             | RF                | US        |    355791 | NS      | $355791.06    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| SBA Communications Corp               | SBA Communications Corp               | CUSIP: 78410G104<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | EC               | CORP              | US        |     22599 | NS      | $4369516.65   | 4.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Essential Properties Realty Tr        | Essential Properties Realty Trust Inc | CUSIP: 29670E107<br>LEI: 2549009LXQLVYCGLZO50 | Long             | EC               | CORP              | US        |     16659 | NS      | $495771.84    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Kimco Realty Corp                     | Kimco Realty Corp                     | CUSIP: 49446R109<br>LEI: 254900ARY41P4V1JL861 | Long             | EC               | CORP              | US        |     90343 | NS      | $1973994.55   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Storage                        | Public Storage                        | CUSIP: 74460D109<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EC               | CORP              | US        |      7027 | NS      | $2029748.95   | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| BXP Inc                               | BXP Inc                               | CUSIP: 101121101<br>LEI: 549300OF70FSEUQBT254 | Long             | EC               | CORP              | US        |     26391 | NS      | $1961906.94   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Agree Realty Corp                     | Agree Realty Corp                     | CUSIP: 008492100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     46024 | NS      | $3269544.96   | 3.33%             |  |  |  | No            |                  1 | On Loan: No      |
| EastGroup Properties Inc              | EastGroup Properties Inc              | CUSIP: 277276101<br>LEI: 31TIGQQZC4P6JMHKSW85 | Long             | EC               | CORP              | US        |      5545 | NS      | $938546.70    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Invitation Homes Inc                  | Invitation Homes Inc                  | CUSIP: 46187W107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    115296 | NS      | $3381631.68   | 3.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Iron Mountain Inc                     | Iron Mountain Inc                     | CUSIP: 46284V101<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | EC               | CORP              | US        |     32013 | NS      | $3263405.22   | 3.32%             |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corp                   | American Tower Corp                   | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |     26596 | NS      | $5114942.72   | 5.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Essex Property Trust Inc              | Essex Property Trust Inc              | CUSIP: 297178105<br>LEI: 549300TR2H2VEFX0NC60 | Long             | EC               | CORP              | US        |     11541 | NS      | $3089064.06   | 3.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Highwoods Properties Inc              | Highwoods Properties Inc              | CUSIP: 431284108<br>LEI: ZIIGTYKL9T0X3HLTDX53 | Long             | EC               | CORP              | US        |     43858 | NS      | $1395561.56   | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Realty Income Corp                    | Realty Income Corp                    | CUSIP: 756109104<br>LEI: 549300CUWDAUZSH43859 | Long             | EC               | CORP              | US        |     25881 | NS      | $1573305.99   | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| PACS Group Inc                        | PACS Group Inc                        | CUSIP: 69380Q107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     19587 | NS      | $268929.51    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Weyerhaeuser Co                       | Weyerhaeuser Co                       | CUSIP: 962166104<br>LEI: 08IRJODWFYBI7QWRGS31 | Long             | EC               | CORP              | US        |     98522 | NS      | $2442360.38   | 2.48%             |  |  |  | No            |                  1 | On Loan: No      |
| VICI Properties Inc                   | VICI Properties Inc                   | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               | CORP              | US        |     33703 | NS      | $1099054.83   | 1.12%             |  |  |  | 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