Penn Series Funds, Inc.
Schedule of Investments — September 30, 2023 (Unaudited)
Balanced Fund
| Number of Shares | Value† | |
| AFFILIATED EQUITY FUNDS — 59.2% | ||
| Penn Series Index 500 Fund* (Cost $23,476,637) | 1,108,342 | $42,338,657 |
| AFFILIATED FIXED INCOME FUNDS — 40.4% | ||
| Penn Series Quality Bond Fund* (Cost $30,568,266) | 1,938,083 | 28,916,200 |
| TOTAL INVESTMENTS — 99.6% (Cost $54,044,903) | $71,254,857 | |
| Other Assets & Liabilities — 0.4% | 254,243 | |
| TOTAL NET ASSETS — 100.0% | $71,509,100 | |
| † | See Security Valuation Note in the most recent semi-annual or annual report. |
| * | Non-income producing security. |
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