Penn Series Funds, Inc.
Schedule of Investments — September 30, 2023 (Unaudited)
Developed International Index Fund
Number of Shares | Value† | |
COMMON STOCKS — 97.2% | ||
Australia — 7.0% | ||
Ampol Ltd. | 1,380 | $29,794 |
ANZ Group Holdings Ltd. | 16,287 | 267,134 |
APA Group | 6,428 | 34,196 |
Aristocrat Leisure Ltd. | 3,234 | 84,493 |
ASX Ltd. | 1,057 | 38,663 |
Aurizon Holdings Ltd. | 8,950 | 20,011 |
BHP Group Ltd. | 27,287 | 766,515 |
BlueScope Steel Ltd. | 2,498 | 30,934 |
Brambles Ltd. | 7,263 | 66,722 |
Cochlear Ltd. | 359 | 58,798 |
Coles Group Ltd. | 7,016 | 70,026 |
Commonwealth Bank of Australia | 8,966 | 572,713 |
Computershare Ltd. | 3,143 | 52,377 |
CSL Ltd. | 2,605 | 419,673 |
Dexus | 5,310 | 24,753 |
EBOS Group Ltd. | 933 | 19,113 |
Endeavour Group Ltd. | 8,189 | 27,648 |
Fortescue Metals Group Ltd. | 8,918 | 118,547 |
Goodman Group | 8,916 | 122,201 |
IDP Education Ltd. | 1,223 | 16,737 |
IGO Ltd. | 3,649 | 29,283 |
Insurance Australia Group Ltd. | 12,718 | 46,135 |
Lendlease Corp. Ltd. | 4,030 | 18,482 |
Macquarie Group Ltd. | 1,943 | 208,072 |
Medibank Pvt. Ltd. | 14,114 | 31,151 |
Mineral Resources Ltd. | 930 | 39,936 |
Mirvac Group | 21,784 | 29,609 |
National Australia Bank Ltd. | 16,988 | 315,371 |
Newcrest Mining Ltd. | 4,938 | 77,806 |
Northern Star Resources Ltd. | 6,358 | 42,219 |
Orica Ltd. | 2,212 | 22,055 |
Origin Energy Ltd. | 8,947 | 50,380 |
Pilbara Minerals Ltd. | 13,602 | 37,109 |
Qantas Airways Ltd.* | 4,237 | 14,027 |
QBE Insurance Group Ltd. | 7,795 | 78,084 |
Ramsay Health Care Ltd. | 1,007 | 33,422 |
REA Group Ltd. | 262 | 25,876 |
Reece Ltd. | 1,201 | 14,296 |
Rio Tinto Ltd. | 1,958 | 141,226 |
Santos Ltd. | 17,329 | 87,356 |
Scentre Group | 29,458 | 46,289 |
SEEK Ltd. | 1,770 | 25,005 |
Sonic Healthcare Ltd. | 2,493 | 47,604 |
South32 Ltd. | 18,110 | 39,103 |
South32 Ltd. | 5,653 | 12,371 |
Stockland | 13,685 | 34,250 |
Suncorp Group Ltd. | 6,492 | 57,841 |
Telstra Group Ltd. | 21,066 | 52,047 |
The GPT Group | 9,446 | 23,523 |
The Lottery Corp. Ltd. | 12,000 | 36,264 |
Transurban Group | 16,251 | 132,050 |
Treasury Wine Estates Ltd. | 3,577 | 28,246 |
Vicinity Ltd. | 18,933 | 20,519 |
Washington H. Soul Pattinson & Co., Ltd. | 1,266 | 26,410 |
Number of Shares | Value† | |
Australia — (continued) | ||
Wesfarmers Ltd. | 6,000 | $203,064 |
Westpac Banking Corp. | 19,020 | 257,104 |
WiseTech Global Ltd. | 856 | 35,533 |
Woodside Energy Group Ltd. | 10,296 | 239,393 |
Woolworths Group Ltd. | 6,435 | 154,062 |
5,653,621 | ||
Austria — 0.2% | ||
Erste Group Bank AG | 1,797 | 62,063 |
OMV AG | 740 | 35,346 |
Verbund AG | 390 | 31,727 |
voestalpine AG | 691 | 18,812 |
147,948 | ||
Belgium — 0.8% | ||
Ageas N.V. | 872 | 35,915 |
Anheuser-Busch InBev N.V. | 4,708 | 260,993 |
D'ieteren Group | 111 | 18,714 |
Elia Group S.A. | 148 | 14,483 |
Groupe Bruxelles Lambert N.V. | 540 | 40,182 |
KBC Group N.V. | 1,371 | 85,354 |
Lotus Bakeries N.V. | 2 | 16,260 |
Sofina S.A. | 94 | 18,999 |
Solvay S.A. | 376 | 41,552 |
UCB S.A. | 649 | 53,159 |
Umicore S.A. | 1,037 | 24,553 |
Warehouses De Pauw CVA | 903 | 22,316 |
632,480 | ||
Bermuda — 0.1% | ||
Aegon Ltd. | 9,039 | 43,565 |
Chile — 0.0% | ||
Antofagasta PLC | 2,107 | 36,577 |
Denmark — 3.2% | ||
A.P. Moller - Maersk A/S, Class A | 15 | 26,545 |
A.P. Moller - Maersk A/S, Class B | 26 | 46,771 |
Carlsberg A/S, Class B | 509 | 64,177 |
Chr Hansen Holding A/S | 572 | 34,991 |
Coloplast A/S, Class B | 756 | 79,998 |
Danske Bank A/S | 3,619 | 83,983 |
Demant A/S* | 596 | 24,610 |
DSV A/S | 984 | 183,359 |
Genmab A/S* | 348 | 123,210 |
Novo Nordisk A/S, Class B | 17,550 | 1,597,950 |
Novozymes A/S, Class B | 1,061 | 42,689 |
Orsted A/S | 991 | 53,914 |
Pandora A/S | 488 | 50,357 |
ROCKWOOL A/S, Class B | 55 | 13,293 |
Tryg A/S | 1,852 | 33,890 |
Vestas Wind Systems A/S* | 5,322 | 113,858 |
2,573,595 | ||
Finland — 1.1% | ||
Elisa OYJ | 733 | 33,991 |
Fortum OYJ | 2,232 | 25,884 |
1
Penn Series Funds, Inc.
Schedule of Investments — September 30, 2023 (Unaudited)
Developed International Index Fund
Number of Shares | Value† | |
COMMON STOCKS — (continued) | ||
Finland — (continued) | ||
Kesko OYJ, Class B | 1,564 | $28,021 |
Kone OYJ, Class B | 1,763 | 74,293 |
Metso OYJ | 3,773 | 39,567 |
Neste OYJ | 2,329 | 78,880 |
Nokia OYJ | 29,379 | 110,467 |
Nordea Bank Abp | 17,155 | 188,083 |
Orion OYJ, Class B | 570 | 22,393 |
Sampo OYJ, Class A* | 2,539 | 109,765 |
Stora Enso OYJ, Class R | 2,992 | 37,500 |
UPM-Kymmene OYJ | 2,772 | 94,916 |
Wartsila OYJ Abp | 2,745 | 31,112 |
874,872 | ||
France — 11.6% | ||
Accor S.A. | 1,048 | 35,249 |
Aeroports de Paris S.A. | 143 | 16,864 |
Air Liquide S.A. | 2,826 | 475,988 |
Airbus S.E. | 3,201 | 428,449 |
Alstom S.A. | 1,697 | 40,337 |
Amundi S.A. | 290 | 16,288 |
Arkema S.A. | 347 | 34,159 |
AXA S.A. | 9,934 | 294,731 |
BioMerieux | 219 | 21,186 |
BNP Paribas S.A. | 5,582 | 354,939 |
Bollore S.E. | 4,361 | 23,406 |
Bouygues S.A. | 1,091 | 38,146 |
Bureau Veritas S.A. | 1,519 | 37,665 |
Capgemini S.E. | 871 | 151,984 |
Carrefour S.A. | 3,099 | 53,226 |
Cie de Saint-Gobain S.A. | 2,461 | 147,292 |
Cie Generale des Etablissements Michelin SCA | 3,571 | 109,297 |
Covivio SA | 315 | 13,972 |
Credit Agricole S.A. | 6,344 | 77,998 |
Danone S.A. | 3,501 | 193,107 |
Dassault Aviation S.A. | 122 | 22,979 |
Dassault Systemes S.E. | 3,522 | 130,816 |
Edenred SE | 1,309 | 81,886 |
Eiffage S.A. | 393 | 37,303 |
Engie S.A. | 9,643 | 147,887 |
EssilorLuxottica S.A. | 1,596 | 277,617 |
Eurazeo S.E. | 255 | 15,174 |
Gecina S.A. | 271 | 27,631 |
Getlink S.E. | 1,879 | 29,955 |
Hermes International SCA | 171 | 311,704 |
Ipsen S.A. | 217 | 28,432 |
Kering S.A. | 394 | 179,019 |
Klepierre S.A. | 1,098 | 26,885 |
La Francaise des Jeux SAEM | 613 | 19,910 |
Legrand S.A. | 1,407 | 129,284 |
L'Oreal S.A. | 1,301 | 539,150 |
LVMH Moet Hennessy Louis Vuitton S.E. | 1,486 | 1,121,678 |
Orange S.A. | 9,801 | 112,420 |
Pernod Ricard S.A. | 1,092 | 181,807 |
Number of Shares | Value† | |
France — (continued) | ||
Publicis Groupe S.A. | 1,254 | $94,919 |
Remy Cointreau S.A. | 109 | 13,289 |
Renault S.A. | 1,036 | 42,389 |
Safran S.A. | 1,851 | 290,069 |
Sanofi | 6,124 | 657,566 |
Sartorius Stedim Biotech | 155 | 36,875 |
Schneider Electric S.E. | 2,937 | 483,995 |
SEB S.A. | 152 | 14,180 |
Societe Generale S.A. | 3,827 | 92,604 |
Sodexo S.A. | 482 | 49,621 |
STMicroelectronics N.V. | 3,611 | 155,717 |
Teleperformance SE | 336 | 42,187 |
Thales S.A. | 576 | 80,953 |
TotalEnergies S.E. | 12,111 | 796,291 |
Unibail-Rodamco-Westfield* | 1,213 | 2,833 |
Unibail-Rodamco-Westfield* | 544 | 26,751 |
Valeo SE | 999 | 17,143 |
Veolia Environnement S.A. | 3,572 | 103,253 |
Vinci S.A. | 2,875 | 318,064 |
Vivendi S.E. | 3,686 | 32,282 |
Wendel S.E. | 159 | 12,568 |
Worldline S.A.* | 1,310 | 36,773 |
9,386,142 | ||
Germany — 7.6% | ||
adidas AG | 856 | 150,150 |
Allianz S.E. | 2,176 | 517,836 |
BASF S.E. | 4,732 | 214,194 |
Bayer AG | 5,322 | 255,586 |
Bayerische Motoren Werke AG | 1,601 | 162,609 |
Bechtle AG | 394 | 18,349 |
Beiersdorf AG | 527 | 67,977 |
Brenntag S.E. | 795 | 61,514 |
Carl Zeiss Meditec AG | 220 | 19,178 |
Commerzbank AG | 5,556 | 63,057 |
Continental AG | 590 | 41,455 |
Covestro AG* | 1,005 | 54,044 |
Daimler Truck Holding AG | 2,630 | 91,062 |
Delivery Hero S.E.* | 873 | 24,927 |
Deutsche Bank AG | 10,203 | 112,134 |
Deutsche Boerse AG | 1,004 | 173,387 |
Deutsche Lufthansa AG* | 2,966 | 23,471 |
Deutsche Post AG | 5,330 | 216,267 |
Deutsche Telekom AG | 17,517 | 367,451 |
E.ON S.E. | 11,848 | 140,114 |
Evonik Industries AG | 1,156 | 21,086 |
Fresenius Medical Care AG & Co., KGaA | 1,105 | 47,506 |
Fresenius S.E. & Co., KGaA | 2,333 | 72,463 |
GEA Group AG | 840 | 30,958 |
Hannover Rueck S.E. | 315 | 69,117 |
Heidelberg Materials AG | 790 | 61,186 |
HelloFresh S.E.* | 800 | 23,772 |
Henkel AG & Co., KGaA | 536 | 33,796 |
Infineon Technologies AG | 6,915 | 229,030 |
Knorr-Bremse AG | 365 | 23,140 |
2
Penn Series Funds, Inc.
Schedule of Investments — September 30, 2023 (Unaudited)
Developed International Index Fund
Number of Shares | Value† | |
COMMON STOCKS — (continued) | ||
Germany — (continued) | ||
LEG Immobilien S.E.* | 364 | $25,031 |
Mercedes-Benz Group AG | 4,269 | 297,109 |
Merck KGaA | 681 | 113,528 |
MTU Aero Engines AG | 275 | 49,805 |
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | 742 | 288,974 |
Nemetschek S.E. | 277 | 16,858 |
Puma S.E. | 567 | 35,059 |
Rational AG | 30 | 18,981 |
Rheinmetall AG | 238 | 61,226 |
RWE AG | 3,336 | 123,832 |
SAP S.E. | 5,626 | 728,241 |
Scout24 S.E. | 387 | 26,834 |
Siemens AG | 4,098 | 585,640 |
Siemens Energy AG* | 2,682 | 34,954 |
Siemens Healthineers AG | 1,477 | 74,709 |
Symrise AG | 694 | 66,068 |
Talanx AG | 362 | 22,911 |
Telefonica Deutschland Holding AG | 5,808 | 10,388 |
Volkswagen AG | 143 | 18,780 |
Vonovia S.E. | 4,036 | 96,696 |
Wacker Chemie AG | 104 | 14,851 |
Zalando S.E.* | 1,152 | 25,595 |
6,122,886 | ||
Hong Kong — 2.4% | ||
AIA Group Ltd. | 61,800 | 499,786 |
BOC Hong Kong Holdings Ltd. | 19,500 | 53,233 |
Budweiser Brewing Co., APAC, Ltd. | 10,400 | 20,438 |
CK Asset Holdings Ltd. | 11,034 | 57,957 |
CK Hutchison Holdings Ltd. | 14,128 | 75,007 |
CK Infrastructure Holdings Ltd. | 3,500 | 16,514 |
CLP Holdings Ltd. | 8,500 | 62,763 |
ESR Group Ltd. | 11,600 | 16,216 |
Futu Holdings Ltd., ADR* | 300 | 17,343 |
Galaxy Entertainment Group Ltd. | 12,000 | 71,803 |
Hang Lung Properties Ltd. | 8,000 | 10,945 |
Hang Seng Bank Ltd. | 4,200 | 52,111 |
Henderson Land Development Co., Ltd. | 7,891 | 20,721 |
HKT Trust & HKT Ltd. | 20,240 | 21,106 |
Hong Kong & China Gas Co., Ltd. | 57,112 | 39,738 |
Hong Kong Exchanges & Clearing Ltd. | 6,384 | 236,928 |
Hongkong Land Holdings Ltd. | 5,900 | 21,041 |
Jardine Matheson Holdings Ltd. | 900 | 41,707 |
Link REIT | 13,262 | 64,845 |
MTR Corp. Ltd. | 7,896 | 31,193 |
New World Development Co., Ltd. | 8,458 | 16,399 |
Power Assets Holdings Ltd. | 7,000 | 33,807 |
Prudential PLC | 14,555 | 156,457 |
Sino Land Co., Ltd. | 17,633 | 19,831 |
SITC International Holdings Co., Ltd. | 8,000 | 13,423 |
Sun Hung Kai Properties Ltd. | 7,661 | 81,743 |
Swire Pacific Ltd., Class A | 2,000 | 13,471 |
Swire Properties Ltd. | 7,136 | 14,841 |
Techtronic Industries Co., Ltd. | 7,500 | 72,402 |
Number of Shares | Value† | |
Hong Kong — (continued) | ||
WH Group Ltd. | 43,872 | $22,963 |
Wharf Real Estate Investment Co., Ltd. | 9,000 | 34,685 |
Xinyi Glass Holdings Ltd. | 7,208 | 9,288 |
1,920,705 | ||
Ireland — 1.2% | ||
AerCap Holdings N.V.* | 900 | 56,403 |
AIB Group PLC | 8,306 | 37,229 |
Bank of Ireland Group PLC | 5,881 | 57,490 |
CRH PLC | 3,919 | 214,487 |
DCC PLC | 489 | 27,379 |
Experian PLC | 4,856 | 158,828 |
Flutter Entertainment PLC* | 932 | 152,038 |
James Hardie Industries PLC* | 2,312 | 60,466 |
Kerry Group PLC, Class A | 835 | 69,768 |
Kingspan Group PLC | 842 | 62,883 |
Smurfit Kappa Group PLC | 1,428 | 47,438 |
944,409 | ||
Israel — 0.7% | ||
Azrieli Group Ltd. | 257 | 13,192 |
Bank Hapoalim BM | 6,615 | 58,937 |
Bank Leumi Le-Israel BM | 8,059 | 66,776 |
Check Point Software Technologies Ltd.* | 512 | 68,239 |
CyberArk Software Ltd.* | 200 | 32,754 |
Elbit Systems Ltd. | 135 | 26,758 |
Global-e Online Ltd.* | 500 | 19,870 |
ICL Group Ltd. | 4,391 | 24,230 |
Israel Discount Bank Ltd., Class A | 7,042 | 38,169 |
Mizrahi Tefahot Bank Ltd. | 844 | 30,650 |
Monday.com Ltd.* | 100 | 15,922 |
Nice Ltd.* | 332 | 56,626 |
Teva Pharmaceutical Industries Ltd.* | 5,764 | 58,783 |
Wix.com Ltd.* | 311 | 28,550 |
539,456 | ||
Italy — 2.1% | ||
Amplifon SpA | 601 | 17,790 |
Assicurazioni Generali SpA | 5,334 | 108,880 |
Davide Campari-Milano N.V. | 2,775 | 32,668 |
DiaSorin SpA | 153 | 13,933 |
Enel SpA | 44,044 | 270,111 |
Eni SpA | 12,841 | 206,275 |
Ferrari N.V. | 667 | 196,622 |
FinecoBank Banca Fineco SpA | 3,098 | 37,409 |
Infrastrutture Wireless Italiane SpA | 1,623 | 19,285 |
Intesa Sanpaolo SpA | 85,434 | 218,815 |
Mediobanca Banca di Credito Finanziario SpA | 2,923 | 38,537 |
Moncler SpA | 1,078 | 62,476 |
Nexi SpA* | 3,202 | 19,510 |
Poste Italiane SpA | 2,669 | 28,028 |
Prysmian SpA | 1,469 | 58,963 |
Recordati Industria Chimica e Farmaceutica SpA | 515 | 24,270 |
3
Penn Series Funds, Inc.
Schedule of Investments — September 30, 2023 (Unaudited)
Developed International Index Fund
Number of Shares | Value† | |
COMMON STOCKS — (continued) | ||
Italy — (continued) | ||
Snam SpA | 11,062 | $51,906 |
Telecom Italia SpA* | 60,149 | 18,758 |
Terna - Rete Elettrica Nazionale | 7,216 | 54,275 |
UniCredit SpA | 9,761 | 232,569 |
1,711,080 | ||
Japan — 22.4% | ||
Advantest Corp. | 4,000 | 111,574 |
Aeon Co., Ltd. | 3,400 | 67,348 |
AGC, Inc. | 1,100 | 38,552 |
Aisin Corp. | 900 | 34,007 |
Ajinomoto Co., Inc. | 2,500 | 96,397 |
ANA Holdings, Inc.* | 800 | 16,750 |
Asahi Group Holdings Ltd. | 2,600 | 97,122 |
Asahi Intecc Co., Ltd. | 1,300 | 23,307 |
Asahi Kasei Corp. | 6,900 | 43,432 |
Astellas Pharma, Inc. | 9,600 | 132,880 |
Azbil Corp. | 700 | 21,385 |
Bandai Namco Holdings, Inc. | 3,300 | 67,124 |
BayCurrent Consulting, Inc. | 800 | 26,658 |
Bridgestone Corp. | 3,000 | 116,904 |
Brother Industries Ltd. | 1,100 | 17,719 |
Canon, Inc. | 5,300 | 127,670 |
Capcom Co., Ltd. | 1,000 | 35,992 |
Central Japan Railway Co. | 4,000 | 97,272 |
Chubu Electric Power Co., Inc. | 3,400 | 43,282 |
Chugai Pharmaceutical Co., Ltd. | 3,700 | 114,086 |
Concordia Financial Group Ltd. | 5,200 | 23,689 |
CyberAgent, Inc. | 2,400 | 12,919 |
Dai Nippon Printing Co., Ltd. | 1,200 | 31,222 |
Daifuku Co., Ltd. | 1,500 | 28,315 |
Dai-ichi Life Holdings, Inc. | 4,900 | 101,157 |
Daiichi Sankyo Co., Ltd. | 10,000 | 273,773 |
Daikin Industries Ltd. | 1,400 | 219,480 |
Daito Trust Construction Co., Ltd. | 400 | 42,133 |
Daiwa House Industry Co., Ltd. | 3,100 | 83,202 |
Daiwa House REIT Investment Corp. | 13 | 22,936 |
Daiwa Securities Group, Inc. | 6,900 | 39,789 |
Denso Corp. | 9,200 | 147,622 |
Dentsu Group, Inc. | 1,100 | 32,353 |
Disco Corp. | 500 | 92,378 |
East Japan Railway Co. | 1,600 | 91,563 |
Eisai Co., Ltd. | 1,300 | 72,051 |
ENEOS Holdings, Inc. | 14,990 | 59,003 |
FANUC Corp. | 5,100 | 132,638 |
Fast Retailing Co., Ltd. | 1,000 | 217,815 |
Fuji Electric Co., Ltd. | 700 | 31,525 |
FUJIFILM Holdings Corp. | 2,000 | 115,701 |
Fujitsu Ltd. | 1,000 | 117,611 |
GLP J-Reit | 26 | 23,239 |
GMO Payment Gateway, Inc. | 200 | 10,913 |
Hakuhodo DY Holdings, Inc. | 1,500 | 12,321 |
Hamamatsu Photonics K.K. | 800 | 33,643 |
Hankyu Hanshin Holdings, Inc. | 1,200 | 40,945 |
Hikari Tsushin, Inc. | 100 | 15,230 |
Number of Shares | Value† | |
Japan — (continued) | ||
Hirose Electric Co., Ltd. | 220 | $25,448 |
Hitachi Construction Machinery Co., Ltd. | 500 | 15,173 |
Hitachi Ltd. | 5,000 | 309,888 |
Honda Motor Co., Ltd. | 24,600 | 276,742 |
Hoshizaki Corp. | 600 | 20,829 |
Hoya Corp. | 1,900 | 194,593 |
Hulic Co., Ltd. | 2,300 | 20,624 |
Ibiden Co., Ltd. | 600 | 31,824 |
Idemitsu Kosan Co., Ltd. | 1,056 | 24,209 |
Iida Group Holdings Co., Ltd. | 900 | 14,935 |
Inpex Corp. | 5,300 | 79,491 |
Isuzu Motors Ltd. | 3,000 | 37,715 |
ITOCHU Corp. | 6,300 | 227,518 |
Japan Airlines Co., Ltd. | 800 | 15,543 |
Japan Exchange Group, Inc. | 2,600 | 48,168 |
Japan Metropolitan Fund Invest | 34 | 22,051 |
Japan Post Bank Co., Ltd. | 7,700 | 67,004 |
Japan Post Holdings Co., Ltd. | 12,000 | 96,002 |
Japan Post Insurance Co., Ltd. | 1,100 | 18,500 |
Japan Real Estate Investment Corp. | 7 | 27,277 |
Japan Tobacco, Inc. | 6,300 | 144,951 |
JFE Holdings, Inc. | 2,600 | 38,075 |
JSR Corp.* | 900 | 24,145 |
Kajima Corp. | 2,200 | 35,812 |
Kao Corp. | 2,600 | 96,369 |
Kawasaki Kisen Kaisha Ltd. | 800 | 27,301 |
KDDI Corp. | 8,100 | 247,945 |
Keio Corp. | 600 | 20,627 |
Keisei Electric Railway Co., Ltd. | 700 | 24,247 |
Keyence Corp. | 1,032 | 381,660 |
Kikkoman Corp. | 700 | 36,689 |
Kintetsu Group Holdings Co., Ltd. | 1,000 | 28,353 |
Kirin Holdings Co., Ltd. | 4,000 | 56,002 |
Kobayashi Pharmaceutical Co., Ltd. | 300 | 13,380 |
Kobe Bussan Co., Ltd. | 800 | 18,729 |
Koei Tecmo Holdings Co., Ltd. | 780 | 11,082 |
Koito Manufacturing Co., Ltd. | 1,200 | 18,096 |
Komatsu Ltd. | 4,900 | 132,159 |
Konami Group Corp. | 500 | 26,362 |
Kose Corp. | 200 | 14,496 |
Kubota Corp. | 5,500 | 80,909 |
Kurita Water Industries Ltd. | 600 | 20,879 |
Kyocera Corp. | 1,700 | 86,186 |
Kyowa Kirin Co., Ltd. | 1,300 | 22,603 |
Lasertec Corp. | 400 | 62,205 |
Lixil Corp. | 1,500 | 17,433 |
LY Corp. | 13,800 | 38,283 |
M3, Inc. | 2,400 | 43,533 |
Makita Corp. | 1,200 | 29,591 |
Marubeni Corp. | 8,100 | 126,265 |
MatsukiyoCocokara & Co. | 1,800 | 32,243 |
Mazda Motor Corp. | 2,800 | 31,793 |
McDonald's Holdings Co., Japan Ltd. | 500 | 19,105 |
MEIJI Holdings Co., Ltd. | 1,200 | 29,825 |
4
Penn Series Funds, Inc.
Schedule of Investments — September 30, 2023 (Unaudited)
Developed International Index Fund
Number of Shares | Value† | |
COMMON STOCKS — (continued) | ||
Japan — (continued) | ||
MINEBEA MITSUMI, Inc. | 1,900 | $30,957 |
MISUMI Group, Inc. | 1,400 | 21,801 |
Mitsubishi Chemical Group Corp. | 6,600 | 41,580 |
Mitsubishi Corp. | 6,200 | 295,432 |
Mitsubishi Electric Corp. | 10,200 | 126,016 |
Mitsubishi Estate Co., Ltd. | 6,200 | 80,885 |
Mitsubishi HC Capital, Inc. | 3,900 | 25,986 |
Mitsubishi Heavy Industries Ltd. | 1,700 | 94,821 |
Mitsubishi UFJ Financial Group, Inc. | 61,600 | 522,008 |
Mitsui & Co., Ltd. | 7,000 | 253,890 |
Mitsui Chemicals, Inc. | 900 | 23,317 |
Mitsui Fudosan Co., Ltd. | 4,700 | 103,513 |
Mitsui OSK Lines Ltd. | 1,900 | 52,210 |
Mizuho Financial Group, Inc. | 12,808 | 217,454 |
MonotaRO Co., Ltd. | 1,500 | 15,992 |
MS&AD Insurance Group Holdings, Inc. | 2,290 | 83,801 |
Murata Manufacturing Co., Ltd. | 9,300 | 169,652 |
NEC Corp. | 1,300 | 71,789 |
Nexon Co., Ltd. | 2,200 | 39,311 |
NGK Insulators Ltd. | 1,100 | 14,579 |
NIDEC Corp. | 2,300 | 106,199 |
Nintendo Co., Ltd. | 5,500 | 228,541 |
Nippon Building Fund, Inc. | 8 | 32,396 |
NIPPON EXPRESS HOLDINGS, INC. | 400 | 20,872 |
Nippon Paint Holdings Co., Ltd. | 5,000 | 33,581 |
Nippon Prologis REIT, Inc. | 13 | 24,271 |
Nippon Sanso Holdings Corp. | 1,000 | 23,676 |
Nippon Steel Corp. | 4,717 | 110,511 |
Nippon Telegraph & Telephone Corp. | 157,900 | 186,896 |
Nippon Yusen K.K. | 2,500 | 64,912 |
Nissan Chemical Corp. | 700 | 29,757 |
Nissan Motor Co., Ltd. | 12,500 | 55,166 |
Nissin Foods Holdings Co., Ltd. | 300 | 24,928 |
Nitori Holdings Co., Ltd. | 500 | 55,748 |
Nitto Denko Corp. | 800 | 52,460 |
Nomura Holdings, Inc. | 16,000 | 64,071 |
Nomura Real Estate Holdings, Inc. | 500 | 12,553 |
Nomura Real Estate Master Fund, Inc. | 21 | 23,520 |
Nomura Research Institute Ltd. | 2,130 | 55,362 |
NTT Data Group Corp. | 3,400 | 45,497 |
Obayashi Corp. | 3,200 | 28,160 |
Obic Co., Ltd. | 364 | 55,153 |
Odakyu Electric Railway Co., Ltd. | 1,800 | 26,895 |
Oji Holdings Corp. | 4,700 | 19,774 |
Olympus Corp. | 6,600 | 85,691 |
Omron Corp. | 1,000 | 44,501 |
Ono Pharmaceutical Co., Ltd. | 2,000 | 38,357 |
Open House Group Co., Ltd. | 400 | 13,563 |
Oracle Corp. Japan | 200 | 14,815 |
Oriental Land Co., Ltd. | 5,800 | 190,284 |
ORIX Corp. | 6,200 | 115,769 |
Osaka Gas Co., Ltd. | 2,000 | 32,910 |
Otsuka Corp. | 600 | 25,385 |
Otsuka Holdings Co., Ltd. | 2,100 | 74,561 |
Pan Pacific International Holdings Corp. | 2,000 | 41,974 |
Number of Shares | Value† | |
Japan — (continued) | ||
Panasonic Corp. | 11,600 | $130,938 |
Persol Holdings Co., Ltd. | 10,000 | 16,242 |
Rakuten Group, Inc. | 8,500 | 34,925 |
Recruit Holdings Co., Ltd. | 7,800 | 238,641 |
Renesas Electronics Corp.* | 6,700 | 102,342 |
Resona Holdings, Inc. | 11,100 | 61,374 |
Ricoh Co., Ltd. | 2,800 | 24,158 |
Rohm Co., Ltd. | 2,000 | 37,598 |
SBI Holdings, Inc. | 1,210 | 25,465 |
SCSK Corp. | 700 | 12,204 |
Secom Co., Ltd. | 1,100 | 74,625 |
Seiko Epson Corp. | 1,700 | 26,698 |
Sekisui Chemical Co., Ltd. | 1,900 | 27,335 |
Sekisui House Ltd. | 3,400 | 67,665 |
Seven & i Holdings Co., Ltd. | 4,000 | 156,601 |
SG Holdings Co., Ltd. | 1,700 | 21,763 |
Sharp Corp.* | 1,200 | 7,471 |
Shimadzu Corp. | 1,200 | 31,830 |
Shimano, Inc. | 400 | 53,538 |
Shimizu Corp. | 2,600 | 18,060 |
Shin-Etsu Chemical Co., Ltd. | 9,700 | 281,743 |
Shionogi & Co., Ltd. | 1,400 | 62,446 |
Shiseido Co., Ltd. | 2,100 | 73,593 |
Shizuoka Financial Group, Inc. | 2,800 | 22,819 |
SMC Corp. | 302 | 135,375 |
SoftBank Corp. | 15,200 | 172,038 |
SoftBank Group Corp. | 5,600 | 235,903 |
Sompo Holdings, Inc. | 1,625 | 69,642 |
Sony Group Corp. | 6,800 | 556,074 |
Square Enix Holdings Co., Ltd. | 500 | 17,133 |
Subaru Corp. | 3,400 | 66,111 |
SUMCO Corp. | 1,700 | 22,122 |
Sumitomo Chemical Co., Ltd. | 7,900 | 21,487 |
Sumitomo Corp. | 5,900 | 117,752 |
Sumitomo Electric Industries Ltd. | 3,800 | 45,778 |
Sumitomo Metal Mining Co., Ltd. | 1,300 | 38,176 |
Sumitomo Mitsui Financial Group, Inc. | 6,900 | 338,970 |
Sumitomo Mitsui Trust Holdings, Inc. | 1,843 | 69,383 |
Sumitomo Realty & Development Co., Ltd. | 1,500 | 38,942 |
Suntory Beverage & Food Ltd. | 800 | 24,346 |
Suzuki Motor Corp. | 2,000 | 80,442 |
Sysmex Corp. | 900 | 42,765 |
T&D Holdings, Inc. | 2,700 | 44,401 |
Taisei Corp. | 900 | 31,676 |
Takeda Pharmaceutical Co., Ltd. | 8,395 | 260,216 |
TDK Corp. | 2,100 | 77,638 |
Terumo Corp. | 3,600 | 95,295 |
The Chiba Bank Ltd. | 2,500 | 18,163 |
The Kansai Electric Power Co., Inc. | 3,700 | 51,225 |
TIS, Inc. | 1,100 | 24,188 |
Tobu Railway Co., Ltd. | 1,100 | 28,272 |
Toho Co., Ltd. | 600 | 20,469 |
Tokio Marine Holdings, Inc. | 9,800 | 226,906 |
5
Penn Series Funds, Inc.
Schedule of Investments — September 30, 2023 (Unaudited)
Developed International Index Fund
Number of Shares | Value† | |
COMMON STOCKS — (continued) | ||
Japan — (continued) | ||
Tokyo Electric Power Co. Holdings, Inc.* | 7,800 | $34,793 |
Tokyo Electron Ltd. | 2,500 | 341,481 |
Tokyo Gas Co., Ltd. | 2,200 | 49,880 |
Tokyu Corp. | 2,700 | 31,130 |
TOPPAN Holdings, Inc. | 1,200 | 28,706 |
Toray Industries, Inc. | 7,500 | 39,023 |
Toshiba Corp.* | 500 | 15,396 |
Tosoh Corp. | 1,600 | 20,514 |
TOTO Ltd. | 800 | 20,644 |
Toyota Industries Corp. | 800 | 62,972 |
Toyota Motor Corp. | 57,040 | 1,023,316 |
Toyota Tsusho Corp. | 1,100 | 64,698 |
Trend Micro, Inc. | 700 | 26,497 |
Unicharm Corp. | 2,200 | 77,787 |
USS Co., Ltd. | 1,000 | 16,531 |
Welcia Holdings Co., Ltd. | 600 | 10,361 |
West Japan Railway Co. | 1,200 | 49,657 |
Yakult Honsha Co., Ltd. | 1,400 | 34,002 |
Yamaha Corp. | 800 | 21,849 |
Yamaha Motor Co., Ltd. | 1,600 | 42,059 |
Yamato Holdings Co., Ltd. | 1,600 | 26,042 |
Yaskawa Electric Corp. | 1,200 | 43,213 |
Yokogawa Electric Corp. | 1,100 | 21,231 |
Zensho Holdings Co., Ltd. | 500 | 21,712 |
ZOZO, Inc. | 600 | 10,987 |
18,124,640 | ||
Jordan — 0.0% | ||
Hikma Pharmaceuticals PLC | 864 | 21,940 |
Luxembourg — 0.2% | ||
ArcelorMittal S.A. | 2,636 | 65,995 |
Eurofins Scientific S.E. | 738 | 41,592 |
Tenaris S.A. | 2,440 | 38,542 |
146,129 | ||
Macao — 0.0% | ||
Sands China Ltd.* | 13,200 | 40,141 |
Netherlands — 4.4% | ||
ABN AMRO Bank N.V. | 2,159 | 30,512 |
Adyen N.V.* | 114 | 84,523 |
Akzo Nobel N.V. | 930 | 67,052 |
Argenx S.E.* | 294 | 143,715 |
ASM International N.V. | 247 | 103,145 |
ASML Holding N.V. | 2,169 | 1,277,000 |
ASR Nederland N.V. | 850 | 31,805 |
BE Semiconductor Industries N.V. | 410 | 40,101 |
Euronext N.V. | 460 | 31,997 |
EXOR N.V. | 590 | 52,185 |
Heineken Holding N.V. | 690 | 51,999 |
Heineken N.V. | 1,532 | 135,063 |
IMCD N.V. | 310 | 39,195 |
ING Groep N.V. | 19,614 | 258,514 |
JDE Peet's N.V. | 767 | 21,424 |
Number of Shares | Value† | |
Netherlands — (continued) | ||
Koninklijke Ahold Delhaize N.V. | 5,156 | $155,400 |
Koninklijke KPN N.V. | 16,843 | 55,492 |
Koninklijke Philips N.V.* | 4,900 | 97,766 |
NN Group N.V. | 1,342 | 43,022 |
OCI NV | 619 | 17,213 |
Prosus N.V.* | 8,132 | 239,618 |
QIAGEN N.V.* | 1,255 | 50,639 |
Randstad N.V. | 579 | 31,987 |
Stellantis N.V. | 4,149 | 79,498 |
Stellantis N.V. | 7,754 | 148,477 |
Universal Music Group N.V. | 4,312 | 112,527 |
Wolters Kluwer N.V. | 1,360 | 164,663 |
3,564,532 | ||
New Zealand — 0.2% | ||
Auckland International Airport Ltd. | 6,706 | 31,792 |
Fisher & Paykel Healthcare Corp. Ltd. | 3,178 | 40,974 |
Mercury NZ Ltd. | 4,492 | 16,413 |
Meridian Energy Ltd. | 6,255 | 19,237 |
Spark New Zealand Ltd. | 10,047 | 28,924 |
Xero Ltd.* | 777 | 55,880 |
193,220 | ||
Norway — 0.7% | ||
Adevinta ASA* | 1,674 | 16,492 |
Aker BP ASA | 1,791 | 49,453 |
DNB Bank ASA | 4,840 | 97,244 |
Equinor ASA | 5,030 | 164,843 |
Gjensidige Forsikring ASA | 1,242 | 18,225 |
Kongsberg Gruppen ASA | 500 | 20,607 |
Mowi ASA | 2,508 | 44,330 |
Norsk Hydro ASA | 7,369 | 46,114 |
Orkla ASA | 3,735 | 27,896 |
Salmar ASA | 343 | 17,372 |
Telenor ASA | 3,766 | 42,709 |
Yara International ASA | 895 | 33,795 |
579,080 | ||
Portugal — 0.2% | ||
EDP - Energias de Portugal S.A. | 17,400 | 72,348 |
Galp Energia SGPS S.A. | 2,701 | 40,008 |
Jeronimo Martins SGPS S.A. | 1,517 | 34,069 |
146,425 | ||
Singapore — 1.4% | ||
CapitaLand Ascendas REIT | 21,190 | 42,500 |
CapitaLand Integrated Commercial Trust | 29,400 | 39,676 |
CapitaLand Investment Ltd. | 14,107 | 31,876 |
CDL Hospitality Trusts | 477 | 362 |
City Developments Ltd. | 2,500 | 12,065 |
DBS Group Holdings Ltd. | 9,848 | 241,863 |
Genting Singapore Ltd. | 36,200 | 22,348 |
Grab Holdings Ltd., Class A* | 10,700 | 37,878 |
Jardine Cycle & Carriage Ltd. | 600 | 13,989 |
Keppel Corp. Ltd. | 7,500 | 37,244 |
Mapletree Logistics Trust | 20,077 | 24,613 |
6
Penn Series Funds, Inc.
Schedule of Investments — September 30, 2023 (Unaudited)
Developed International Index Fund
Number of Shares | Value† | |
COMMON STOCKS — (continued) | ||
Singapore — (continued) | ||
Mapletree Pan Asia Commercial Trust | 12,700 | $13,254 |
Oversea-Chinese Banking Corp. Ltd. | 17,891 | 167,318 |
Sea Ltd., ADR* | 2,000 | 87,900 |
Seatrium Ltd.* | 262,539 | 25,671 |
Sembcorp Industries Ltd. | 4,800 | 17,841 |
Singapore Airlines Ltd. | 8,500 | 40,096 |
Singapore Exchange Ltd. | 4,300 | 30,590 |
Singapore Technologies Engineering Ltd. | 7,600 | 21,689 |
Singapore Telecommunications Ltd. | 43,200 | 76,468 |
United Overseas Bank Ltd. | 6,637 | 138,236 |
UOL Group Ltd. | 2,407 | 11,259 |
Wilmar International Ltd. | 10,300 | 28,029 |
1,162,765 | ||
Spain — 2.6% | ||
Acciona S.A. | 148 | 18,849 |
ACS Actividades de Construccion y Servicios S.A. | 1,136 | 40,839 |
Aena SME S.A. | 411 | 61,846 |
Amadeus IT Group S.A. | 2,379 | 143,698 |
Banco Bilbao Vizcaya Argentaria S.A. | 31,933 | 258,431 |
Banco Santander S.A. | 87,249 | 332,250 |
CaixaBank S.A. | 21,428 | 85,369 |
Cellnex Telecom S.A. | 2,975 | 103,476 |
Corp. ACCIONA Energias Renovables S.A. | 397 | 10,226 |
EDP Renovaveis S.A. | 1,789 | 29,299 |
Enagas S.A. | 1,204 | 19,938 |
Endesa S.A. | 1,591 | 32,379 |
Ferrovial S.E. | 2,641 | 80,701 |
Grifols S.A.* | 1,529 | 19,803 |
Iberdrola S.A. | 32,902 | 367,991 |
Industria de Diseno Textil S.A. | 5,772 | 214,788 |
Naturgy Energy Group S.A. | 633 | 17,221 |
Redeia Corp. S.A. | 2,108 | 33,162 |
Repsol S.A. | 6,984 | 114,880 |
Telefonica S.A. | 28,674 | 117,143 |
2,102,289 | ||
Sweden — 2.8% | ||
Alfa Laval AB | 1,578 | 54,059 |
Assa Abloy AB, Class B | 5,279 | 114,705 |
Atlas Copco AB, Class A | 14,200 | 190,716 |
Atlas Copco AB, Class B | 8,112 | 94,870 |
Beijer Ref AB | 1,927 | 20,275 |
Boliden AB | 1,554 | 44,595 |
Epiroc AB, Class A | 3,574 | 67,861 |
Epiroc AB, Class B | 2,199 | 35,178 |
EQT AB | 2,023 | 39,859 |
Essity AB, Class B | 3,191 | 68,821 |
Evolution AB | 1,014 | 102,322 |
Fastighets AB Balder, Class B* | 3,781 | 16,950 |
Getinge AB, Class B | 1,344 | 23,617 |
H & M Hennes & Mauritz AB, Class B | 3,540 | 50,198 |
Hexagon AB, Class B | 11,349 | 96,588 |
Number of Shares | Value† | |
Sweden — (continued) | ||
Holmen AB, Class B | 551 | $21,418 |
Husqvarna AB, Class B | 2,510 | 19,154 |
Industrivarden AB, Class A | 694 | 18,300 |
Industrivarden AB, Class C | 848 | 22,346 |
Indutrade AB | 1,349 | 24,915 |
Investment AB Latour, Class B | 921 | 16,187 |
Investor AB, Class B | 9,147 | 175,115 |
L E Lundbergforetagen AB, Class B | 471 | 19,639 |
Lifco AB, Class B | 1,359 | 23,773 |
Nibe Industrier AB, Class B | 7,900 | 51,648 |
Saab AB, Class B | 458 | 23,310 |
Sagax AB, Class B | 919 | 17,457 |
Sandvik AB | 5,885 | 108,286 |
Securitas AB, Class B | 2,542 | 20,100 |
Skandinaviska Enskilda Banken AB, Class A | 8,409 | 100,251 |
Skanska AB, Class B | 1,869 | 30,690 |
SKF AB, Class B | 1,796 | 29,816 |
Svenska Cellulosa AB SCA, Class B | 3,289 | 45,033 |
Svenska Handelsbanken AB, Class A | 7,620 | 67,802 |
Swedbank AB, Class A | 4,396 | 80,805 |
Swedish Orphan Biovitrum AB* | 1,123 | 22,931 |
Tele2 AB, Class B | 2,749 | 21,023 |
Telefonaktiebolaget LM Ericsson, Class B | 15,286 | 74,470 |
Telia Co., AB | 12,823 | 26,450 |
Volvo AB, Class A | 971 | 20,164 |
Volvo AB, Class B | 7,972 | 164,204 |
Volvo Car AB, Class B* | 3,803 | 15,383 |
2,281,284 | ||
Switzerland — 10.3% | ||
ABB Ltd. | 8,658 | 309,032 |
Adecco Group AG | 908 | 37,294 |
Alcon, Inc. | 2,644 | 204,031 |
Bachem Holding AG | 200 | 14,752 |
Baloise Holding AG | 248 | 35,905 |
Banque Cantonale Vaudoise | 182 | 19,045 |
Barry Callebaut AG | 18 | 28,624 |
BKW AG | 127 | 22,357 |
Chocoladefabriken Lindt & Spruengli AG | 1 | 109,496 |
Chocoladefabriken Lindt & Spruengli AG, Participation Certificates | 3 | 33,338 |
Cie Financiere Richemont S.A., Class A | 2,821 | 343,551 |
Clariant AG* | 1,199 | 18,904 |
Coca-Cola HBC AG* | 1,222 | 33,414 |
DSM-Firmenich AG | 1,028 | 86,869 |
Dufry AG* | 564 | 21,413 |
EMS-Chemie Holding AG | 37 | 25,073 |
Geberit AG | 179 | 89,263 |
Givaudan S.A. | 49 | 159,536 |
Glencore PLC | 56,576 | 322,173 |
Helvetia Holding AG | 212 | 29,614 |
Holcim AG* | 2,773 | 177,497 |
7
Penn Series Funds, Inc.
Schedule of Investments — September 30, 2023 (Unaudited)
Developed International Index Fund
Number of Shares | Value† | |
COMMON STOCKS — (continued) | ||
Switzerland — (continued) | ||
Julius Baer Group Ltd. | 1,120 | $71,689 |
Kuehne + Nagel International AG | 282 | 80,125 |
Logitech International S.A. | 886 | 60,955 |
Lonza Group AG | 394 | 182,244 |
Nestle S.A. | 14,359 | 1,625,382 |
Novartis AG | 11,031 | 1,126,581 |
Partners Group Holding AG | 120 | 134,711 |
Roche Holding AG | 3,781 | 1,032,217 |
Roche Holding AG | 164 | 48,181 |
Schindler Holding AG | 125 | 24,051 |
Schindler Holding AG, Participation Certificates | 207 | 41,234 |
SGS S.A. | 785 | 65,882 |
SIG Group AG* | 1,646 | 40,550 |
Sika AG | 795 | 201,422 |
Sonova Holding AG | 284 | 67,216 |
Straumann Holding AG | 611 | 77,767 |
Swiss Life Holding AG | 169 | 105,148 |
Swiss Prime Site AG | 413 | 37,810 |
Swiss Re AG | 1,593 | 163,602 |
Swisscom AG | 136 | 80,755 |
Temenos AG | 314 | 21,961 |
The Swatch Group AG | 158 | 40,467 |
The Swatch Group AG | 298 | 14,554 |
UBS Group AG | 17,756 | 437,369 |
VAT Group AG | 147 | 52,456 |
Zurich Insurance Group AG | 813 | 371,993 |
8,327,503 | ||
United Arab Emirates — 0.0% | ||
NMC Health PLC* | 538 | 0 |
United Kingdom — 14.0% | ||
3i Group PLC | 5,130 | 129,125 |
abrdn PLC | 11,339 | 21,424 |
Admiral Group PLC | 1,092 | 31,558 |
Anglo American PLC | 6,715 | 184,391 |
Ashtead Group PLC | 2,316 | 140,448 |
Associated British Foods PLC | 1,882 | 47,283 |
AstraZeneca PLC | 8,341 | 1,125,072 |
Auto Trader Group PLC | 4,893 | 36,766 |
Aviva PLC | 14,575 | 68,986 |
BAE Systems PLC | 16,150 | 196,252 |
Barclays PLC | 82,087 | 158,217 |
Barratt Developments PLC | 5,409 | 29,001 |
Berkeley Group Holdings PLC | 623 | 31,112 |
BP PLC | 93,559 | 603,075 |
British American Tobacco PLC | 11,482 | 360,520 |
BT Group PLC | 38,077 | 54,072 |
Bunzl PLC | 1,861 | 66,277 |
Burberry Group PLC | 2,050 | 47,509 |
Centrica PLC | 29,109 | 54,751 |
CNH Industrial N.V. | 5,354 | 64,996 |
Coca-Cola Europacific Partners PLC | 1,134 | 71,031 |
Compass Group PLC | 9,237 | 224,843 |
Croda International PLC | 769 | 45,934 |
Number of Shares | Value† | |
United Kingdom — (continued) | ||
Diageo PLC | 12,129 | $447,173 |
Endeavour Mining PLC | 1,062 | 20,501 |
Entain PLC | 3,405 | 38,619 |
GSK PLC | 22,122 | 400,271 |
Haleon PLC | 30,358 | 125,837 |
Halma PLC | 2,077 | 48,936 |
Hargreaves Lansdown PLC | 2,149 | 20,211 |
HSBC Holdings PLC | 106,158 | 830,728 |
Imperial Brands PLC | 4,838 | 98,146 |
Informa PLC | 7,588 | 69,290 |
InterContinental Hotels Group PLC | 944 | 69,813 |
Intertek Group PLC | 877 | 43,858 |
J. Sainsbury PLC | 8,379 | 25,803 |
JD Sports Fashion PLC | 12,768 | 23,193 |
Johnson Matthey PLC | 879 | 17,402 |
Kingfisher PLC | 10,488 | 28,471 |
Land Securities Group PLC | 3,485 | 24,981 |
Legal & General Group PLC | 31,357 | 84,612 |
Lloyds Banking Group PLC | 350,377 | 188,291 |
London Stock Exchange Group PLC | 2,304 | 230,921 |
M&G PLC | 11,743 | 28,135 |
Melrose Industries PLC | 7,190 | 40,986 |
Mondi PLC | 2,643 | 44,090 |
National Grid PLC | 19,967 | 238,792 |
NatWest Group PLC | 30,926 | 88,466 |
Next PLC | 660 | 58,536 |
Ocado Group PLC* | 3,089 | 22,460 |
Pearson PLC | 3,239 | 34,174 |
Persimmon PLC | 1,547 | 20,260 |
Phoenix Group Holdings PLC | 3,684 | 21,590 |
Reckitt Benckiser Group PLC | 3,888 | 274,185 |
RELX PLC | 6,467 | 218,196 |
RELX PLC | 3,621 | 122,405 |
Rentokil Initial PLC | 13,823 | 102,630 |
Rio Tinto PLC | 6,084 | 382,030 |
Rolls-Royce Holdings PLC* | 45,897 | 122,976 |
Schroders PLC | 4,151 | 20,511 |
Segro PLC | 6,202 | 54,231 |
Severn Trent PLC | 1,298 | 37,454 |
Shell PLC | 36,079 | 1,143,496 |
Smith & Nephew PLC | 4,804 | 59,620 |
Smiths Group PLC | 1,814 | 35,714 |
Spirax-Sarco Engineering PLC | 418 | 48,385 |
SSE PLC | 5,742 | 112,522 |
St. James's Place PLC | 3,047 | 30,741 |
Standard Chartered PLC | 12,680 | 116,625 |
Taylor Wimpey PLC | 17,417 | 24,840 |
Tesco PLC | 38,561 | 124,031 |
The Sage Group PLC | 5,350 | 64,381 |
Unilever PLC | 7,276 | 359,920 |
Unilever PLC | 6,278 | 310,807 |
United Utilities Group PLC | 3,526 | 40,743 |
Vodafone Group PLC | 120,761 | 113,201 |
Whitbread PLC | 1,086 | 45,713 |
Wise PLC, Class A* | 3,518 | 29,338 |
8
Penn Series Funds, Inc.
Schedule of Investments — September 30, 2023 (Unaudited)
Developed International Index Fund
Number of Shares | Value† | |
COMMON STOCKS — (continued) | ||
United Kingdom — (continued) | ||
WPP PLC | 5,591 | $49,812 |
11,271,696 | ||
TOTAL COMMON STOCKS (Cost $61,065,360) | 78,548,980 | |
PREFERRED STOCKS — 0.5% | ||
Germany — 0.5% | ||
Bayerische Motoren Werke AG | 341 | 31,741 |
Dr. Ing. h.c. F. Porsche AG | 628 | 58,923 |
Henkel AG & Co., KGaA | 924 | 65,798 |
Porsche Automobil Holding S.E. | 835 | 41,073 |
Sartorius AG | 146 | 49,449 |
Volkswagen AG | 1,088 | 125,011 |
TOTAL PREFERRED STOCKS (Cost $396,260) | 371,995 | |
SHORT-TERM INVESTMENTS — 1.1% | ||
BlackRock Liquidity FedFund - Institutional Shares (seven-day effective yield 5.236%) (Cost $907,944) | 907,944 | 907,944 |
TOTAL INVESTMENTS — 98.8% (Cost $62,369,564) | $79,828,919 | |
Other Assets & Liabilities — 1.2% | 948,962 | |
TOTAL NET ASSETS — 100.0% | $80,777,881 |
† | See Security Valuation Note in the most recent semi-annual or annual report. |
* | Non-income producing security. |
A/S— Aktieselskab. |
AB— Aktiebolag. |
ADR— American Depositary Receipt. |
AG— Aktiengesellschaft. |
ASA— Allmennaksjeselskap. |
K.K.— Kabushiki Kaisha |
KGaA— Kommanditgesellschaft auf Aktien. |
MSCI— Morgan Stanley Capital International. |
N.V.— Naamloze Vennootschap. |
OYJ— Julkinen Osakeyhtiö. |
PLC— Public Limited Company. |
REIT— Real Estate Investment Trust. |
S.A.— Societe Anonyme. |
S.E.— Societas Europaea. |
SpA— Società per Azioni. |
Country Weightings as of 9/30/2023†† | |
Japan | 23% |
United Kingdom | 14 |
France | 12 |
Switzerland | 10 |
Germany | 8 |
Australia | 7 |
Netherlands | 5 |
Other | 21 |
Total | 100% |
†† | % of total investments as of September 30, 2023. |
COMMON STOCKS INDUSTRY DIVERSIFICATION | % of Market Value | Value† |
Advertising | 0.2% | $189,405 |
Aerospace & Defense | 1.7 | 1,365,452 |
Agriculture | 0.8 | 631,646 |
Airlines | 0.1 | 109,887 |
Apparel | 2.3 | 1,845,119 |
Auto Manufacturers | 3.6 | 2,807,582 |
Auto Parts & Equipment | 0.8 | 607,853 |
Banks | 11.1 | 8,753,111 |
Beverages | 2.0 | 1,566,840 |
Biotechnology | 0.9 | 724,281 |
Building Materials | 1.8 | 1,446,054 |
Chemicals | 2.8 | 2,192,267 |
Commercial Services | 2.5 | 1,990,879 |
Computers | 1.0 | 784,127 |
Cosmetics & Personal Care | 2.2 | 1,734,757 |
Distribution & Wholesale | 1.5 | 1,209,741 |
Diversified | 0.0 | 29,609 |
Diversified Financial Services | 1.7 | 1,316,344 |
Electric | 2.7 | 2,100,818 |
Electrical Components & Equipment | 0.9 | 689,961 |
Electronics | 1.6 | 1,269,616 |
Energy-Alternate Sources | 0.2 | 124,084 |
Engineering & Construction | 1.3 | 983,803 |
Entertainment | 1.0 | 779,274 |
Environmental Control | 0.0 | 20,879 |
Food | 4.4 | 3,418,932 |
Food Service | 0.4 | 274,464 |
Forest Products & Paper | 0.3 | 227,636 |
Gas | 0.3 | 266,344 |
Hand & Machine Tools | 0.3 | 198,803 |
Healthcare Products | 2.1 | 1,612,993 |
Healthcare Services | 0.6 | 477,168 |
Holding Companies | 0.1 | 55,178 |
Home Builders | 0.4 | 311,913 |
Home Furnishings | 1.0 | 748,473 |
Household Products & Wares | 0.4 | 307,981 |
Insurance | 5.1 | 4,038,491 |
Internet | 0.9 | 707,106 |
Investment Companies | 0.5 | 385,744 |
Iron & Steel | 0.5 | 422,810 |
Leisure Time | 0.2 | 117,446 |
Lodging | 0.4 | 274,784 |
Machinery — Construction & Mining | 1.2 | 963,903 |
Machinery — Diversified | 1.9 | 1,517,958 |
Media | 0.4 | 323,815 |
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Penn Series Funds, Inc.
Schedule of Investments — September 30, 2023 (Unaudited)
Developed International Index Fund
COMMON STOCKS INDUSTRY DIVERSIFICATION | % of Market Value | Value† |
Metal Fabricate/Hardware | 0.2% | $142,615 |
Mining | 2.8 | 2,220,189 |
Miscellaneous Manufacturing | 1.1 | 825,401 |
Office & Business Equipment | 0.2 | 178,526 |
Oil & Gas | 4.8 | 3,779,172 |
Oil & Gas Services | 0.0 | 25,671 |
Packaging and Containers | 0.1 | 78,050 |
Pharmaceuticals | 9.8 | 7,667,875 |
Pipelines | 0.0 | 34,196 |
Private Equity | 0.4 | 350,745 |
Real Estate | 1.1 | 837,300 |
COMMON STOCKS INDUSTRY DIVERSIFICATION | % of Market Value | Value† | |
Real Estate Investment Trusts | 1.1% | $832,075 | |
Retail | 2.1 | 1,627,720 | |
Semiconductors | 3.3 | 2,608,336 | |
Shipbuilding | 0.0 | 20,607 | |
Software | 1.6 | 1,258,345 | |
Telecommunications | 3.0 | 2,331,973 | |
Toys, Games & Hobbies | 0.4 | 295,665 | |
Transportation | 1.7 | 1,327,738 | |
Water | 0.2 | 181,450 | |
100.0% | $78,548,980 |
Open forward foreign currency contracts held at September 30, 2023 are as follows:
Open forward foreign currency contracts | |||||||||||||||||
Currency | Counterparty | Settlement Date | Foreign Currency Contract | Forward Rate | U.S. Contract Amount | U.S. Contract Value | Unrealized Foreign Exchange Gain | Unrealized Foreign Exchange Loss | |||||||||
Sell | Swiss Franc | Deutsche Bank AG | 12/14/23 | (205,000) | 0.90752 | $(232,148) | $(225,891) | $6,257 | $— | ||||||||
Sell | Euro | JPMorgan | 12/14/23 | (200,000) | 0.94246 | (215,536) | (212,211) | 3,325 | — | ||||||||
Total | $9,582 | $— |
Futures contracts held by the Fund at September 30, 2023 are as follows:
Futures Contracts: Exchange Traded | ||||||||||||||||
Type | Futures Contract | Expiration Date | Numbers of Contracts | Units per Contract | Closing Price | Notional Value | Unrealized Appreciation | Unrealized Depreciation | ||||||||
Long | MSCI EAFE Index | 12/15/23 | 19 | 50 | $2,042 | $1,939,425 | $— | $(50,625) | ||||||||
$— | $(50,625) |
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