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        <name>Epicor Software Corporation</name>
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        <name>SIX FLAGS ENTERTAINME</name>
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        <name>TRANSDIGM INC</name>
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        <name>Willis Towers Watson PLC</name>
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        <name>INTERCONTINENTAL EXCHANGE, INC.</name>
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        <name>Ascend Learning LLC</name>
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        <name>INTERCONTINENTAL EXCHANGE, INC.</name>
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        <name>INTERCONTINENTAL EXCHANGE, INC.</name>
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        <name>INTERCONTINENTAL EXCHANGE, INC.</name>
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        <name>Arthur J Gallagher &amp; Co</name>
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        <name>BlackRock Liquidity FedFund</name>
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        <name>Dominos Pizza Master Issuer LL</name>
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        <name>Icon Parent I Inc</name>
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        <name>INTERCONTINENTAL EXCHANGE, INC.</name>
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        <name>INTERCONTINENTAL EXCHANGE, INC.</name>
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        <name>INTERCONTINENTAL EXCHANGE, INC.</name>
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        <name>TRANSDIGM INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>KFC HLD/PIZZA HUT/TACO</name>
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        <name>Icon Parent I Inc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>INTERCONTINENTAL EXCHANGE, INC.</name>
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      <invstOrSec>
        <name>Abbott Laboratories</name>
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        <name>HUB INTERNATIONAL LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>INTERCONTINENTAL EXCHANGE, INC.</name>
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        <name>Ameren Corp</name>
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        <name>Broadcom Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>INTERCONTINENTAL EXCHANGE, INC.</name>
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        <name>Meta Platforms Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>INTERCONTINENTAL EXCHANGE, INC.</name>
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        <name>INTERCONTINENTAL EXCHANGE, INC.</name>
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        <name>Alphabet Inc</name>
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        <name>CCO HLDGS LLC/CAP CORP</name>
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        <name>CBOE GLOBAL MARKETS, INC.</name>
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        <name>SIX FLAGS/CANADA WON</name>
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        <name>INTERCONTINENTAL EXCHANGE, INC.</name>
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        <name>CCC Intelligent Solutions Inc.</name>
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        <name>INTERCONTINENTAL EXCHANGE, INC.</name>
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        <name>YUM! BRANDS INC</name>
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        <name>ELLUCIAN HOLDINGS INC</name>
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        <name>HILTON WORLDWIDE FIN LLC</name>
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        <name>INTERCONTINENTAL EXCHANGE, INC.</name>
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        <name>INTERCONTINENTAL EXCHANGE, INC.</name>
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        <name>LIFE TIME INC</name>
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        <name>Dominos Pizza Master Issuer LL</name>
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        <name>Ionis Pharmaceuticals Inc</name>
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        <name>US TREASURY N/B</name>
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        <name>INTERCONTINENTAL EXCHANGE, INC.</name>
        <lei>5493000F4ZO33MV32P92</lei>
        <title>YUM! BRANDS INC</title>
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        <name>Ryan Specialty Group LLC</name>
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        <name>HUB INTERNATIONAL LTD</name>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Azalea TopCo Inc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CMS ENERGY CORP</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Broadstreet Partners Inc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>INTERCONTINENTAL EXCHANGE, INC.</name>
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        <name>DTE Energy Co</name>
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        <name>Transdigm Inc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>APPLIED SYSTEMS INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TRANSDIGM INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>KORN/FERRY INTERNATIONAL</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Yum! Brands Inc</name>
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        <name>INTERCONTINENTAL EXCHANGE, INC.</name>
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        <name>INTERCONTINENTAL EXCHANGE, INC.</name>
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        <name>Cencora Inc</name>
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        <title>Cencora Inc</title>
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        <name>Mariner Wealth Advisors LLC</name>
        <lei>549300XJJOOU336E5R24</lei>
        <title>MARINER LLC</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-12-31</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.66340000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INTERCONTINENTAL EXCHANGE, INC.</name>
        <lei>5493000F4ZO33MV32P92</lei>
        <title>MCKESSON CORP</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="MCK 1 C760"/>
          <other otherDesc="ID_BB_GLOBAL" value="BBG01LMHSV65"/>
        </identifiers>
        <balance>-51.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-238170.00000000</valUSD>
        <pctVal>-0.00463122117</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>INTERCONTINENTAL EXCHANGE, INC.</counterpartyName>
              <counterpartyLei>5493000F4ZO33MV32P92</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>McKesson Corp</issuerName>
                <issueTitle>McKesson Corp</issueTitle>
                <identifiers>
                  <cusip value="58155Q103"/>
                  <isin value="US58155Q1031"/>
                  <ticker value="MCK"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>100.00000000</shareNo>
            <exercisePrice>760.00000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-01-16</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-87835.11000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BROADSTREET PARTNERS GRP</name>
        <lei>549300BS9N54G8DD0R75</lei>
        <title>Broadstreet Partners Group LLC</title>
        <cusip>11135RAA3</cusip>
        <identifiers>
          <isin value="US11135RAA32"/>
        </identifiers>
        <balance>8371000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8348850.33000000</valUSD>
        <pctVal>0.162343588182</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INTERCONTINENTAL EXCHANGE, INC.</name>
        <lei>5493000F4ZO33MV32P92</lei>
        <title>CENCORA INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="COR 1 C260"/>
          <other otherDesc="ID_BB_GLOBAL" value="BBG01J84TG03"/>
        </identifiers>
        <balance>-165.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-927300.00000000</valUSD>
        <pctVal>-0.01803136999</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>INTERCONTINENTAL EXCHANGE, INC.</counterpartyName>
              <counterpartyLei>5493000F4ZO33MV32P92</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Cencora Inc</issuerName>
                <issueTitle>Cencora Inc</issueTitle>
                <identifiers>
                  <cusip value="03073E105"/>
                  <isin value="US03073E1055"/>
                  <ticker value="COR"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>100.00000000</shareNo>
            <exercisePrice>260.00000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-01-16</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-660495.00000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>YUM! BRANDS INC</name>
        <lei>549300JE8XHZZ7OHN517</lei>
        <title>Yum! Brands Inc</title>
        <cusip>988498AN1</cusip>
        <identifiers>
          <isin value="US988498AN16"/>
        </identifiers>
        <balance>4955000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4626513.53000000</valUSD>
        <pctVal>0.089962662827</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.62500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NiSource Inc</name>
        <lei>549300D8GOWWH0SJB189</lei>
        <title>NiSource Inc</title>
        <cusip>65473P105</cusip>
        <identifiers>
          <isin value="US65473P1057"/>
          <ticker value="NI"/>
        </identifiers>
        <balance>2037498.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>88223663.40000000</valUSD>
        <pctVal>1.715511179725</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INTERCONTINENTAL EXCHANGE, INC.</name>
        <lei>5493000F4ZO33MV32P92</lei>
        <title>ABBOTT LABORATORIES</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="ABT 1 C145"/>
          <other otherDesc="ID_BB_GLOBAL" value="BBG01J7YF3T1"/>
        </identifiers>
        <balance>-244.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-59536.00000000</valUSD>
        <pctVal>-0.00115767889</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>INTERCONTINENTAL EXCHANGE, INC.</counterpartyName>
              <counterpartyLei>5493000F4ZO33MV32P92</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Abbott Laboratories</issuerName>
                <issueTitle>Abbott Laboratories</issueTitle>
                <identifiers>
                  <cusip value="002824100"/>
                  <isin value="US0028241000"/>
                  <ticker value="ABT"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>100.00000000</shareNo>
            <exercisePrice>145.00000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-01-16</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>80454.12000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>YUM! BRANDS INC</name>
        <lei>549300JE8XHZZ7OHN517</lei>
        <title>Yum! Brands Inc</title>
        <cusip>988498AL5</cusip>
        <identifiers>
          <isin value="US988498AL59"/>
        </identifiers>
        <balance>4113000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4087485.42000000</valUSD>
        <pctVal>0.079481248734</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SERVICE CORP INTL</name>
        <lei>549300RKVM2ME20JHZ15</lei>
        <title>Service Corp International/US</title>
        <cusip>817565CF9</cusip>
        <identifiers>
          <isin value="US817565CF96"/>
        </identifiers>
        <balance>2557000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2370949.97000000</valUSD>
        <pctVal>0.046103177122</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2025-11-24</ncom:dateSigned>
      <ncom:nameOfApplicant>Penn Series Funds Inc</ncom:nameOfApplicant>
      <ncom:signature>Steven Viola</ncom:signature>
      <ncom:signerName>Steven Viola</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
