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      <seriesName>Penn Series Moderately Aggressive Allocation Fund</seriesName>
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          <other otherDesc="Internal" value="707599791"/>
        </identifiers>
        <balance>1367457.07650000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>18036758.84000000</valUSD>
        <pctVal>8.985021677488</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HIGH YIELD BOND FUND</name>
        <lei>N/A</lei>
        <title>HIGH YIELD BOND FUND</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="1062T"/>
          <other otherDesc="Internal" value="707593109"/>
        </identifiers>
        <balance>270998.73100000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3962001.45000000</valUSD>
        <pctVal>1.973673276350</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LARGE CAP VALUE FUND</name>
        <lei>N/A</lei>
        <title>LARGE CAP VALUE FUND</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal" value="707613105"/>
        </identifiers>
        <balance>581510.30480000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15747299.05000000</valUSD>
        <pctVal>7.844525980597</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MID CAP GROWTH FUND</name>
        <lei>N/A</lei>
        <title>MID CAP GROWTH FUND</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal" value="707599700"/>
        </identifiers>
        <balance>138665.75110000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4076773.08000000</valUSD>
        <pctVal>2.030846829130</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>QUALITY BOND FUND</name>
        <lei>N/A</lei>
        <title>QUALITY BOND FUND</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal" value="707603106"/>
        </identifiers>
        <balance>592822.34240000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10024625.81000000</valUSD>
        <pctVal>4.993773050389</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INDEX 500 FUND</name>
        <lei>N/A</lei>
        <title>INDEX 500 FUND</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal" value="707599403"/>
        </identifiers>
        <balance>684743.97940000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>18125173.13000000</valUSD>
        <pctVal>9.029065306352</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INTERNATIONAL EQUITY FUND</name>
        <lei>N/A</lei>
        <title>INTERNATIONAL EQUITY FUND</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal" value="707599205"/>
        </identifiers>
        <balance>627999.99810000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>20227879.94000000</valUSD>
        <pctVal>10.07652990001</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LIMITED MATURITY BOND FUND</name>
        <lei>N/A</lei>
        <title>LIMITED MATURITY BOND FUND</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal" value="707599502"/>
        </identifiers>
        <balance>1678952.79120000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>21977492.04000000</valUSD>
        <pctVal>10.94810016300</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EMERGING MARKETS EQUITY FUND</name>
        <lei>N/A</lei>
        <title>EMERGING MARKETS EQUITY FUND</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal" value="707599817"/>
        </identifiers>
        <balance>1048455.66360000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12266931.26000000</valUSD>
        <pctVal>6.110778785982</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SMALL CAP VALUE FUND</name>
        <lei>N/A</lei>
        <title>SMALL CAP VALUE FUND</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal" value="707596706"/>
        </identifiers>
        <balance>133669.17860000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3977994.76000000</valUSD>
        <pctVal>1.981640352826</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SMID CAP GROWTH FUND</name>
        <lei>N/A</lei>
        <title>SMID CAP GROWTH FUND</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="707599833"/>
        </identifiers>
        <balance>53476.37170000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2051353.62000000</valUSD>
        <pctVal>1.021882972844</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LARGE GROWTH STOCK</name>
        <lei>N/A</lei>
        <title>LARGE GROWTH STOCK</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal" value="707563102"/>
        </identifiers>
        <balance>36099.72740000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2043966.57000000</valUSD>
        <pctVal>1.018203109684</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SMALL CAP INDEX FUND</name>
        <lei>N/A</lei>
        <title>SMALL CAP INDEX FUND</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal" value="707599734"/>
        </identifiers>
        <balance>92341.46450000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2022278.07000000</valUSD>
        <pctVal>1.007398971070</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SMALL CAP GROWTH FUND</name>
        <lei>N/A</lei>
        <title>SMALL CAP GROWTH FUND</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal" value="707599385"/>
        </identifiers>
        <balance>89746.39670000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4059229.52000000</valUSD>
        <pctVal>2.022107494735</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LARGE CORE VALUE FUND</name>
        <lei>N/A</lei>
        <title>LARGE CORE VALUE FUND</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal" value="707599841"/>
        </identifiers>
        <balance>824253.37110000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15636086.45000000</valUSD>
        <pctVal>7.789125360636</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <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>2020-08-20</ncom:dateSigned>
      <ncom:nameOfApplicant>Penn Series Funds Inc</ncom:nameOfApplicant>
      <ncom:signature>Steve Viola</ncom:signature>
      <ncom:signerName>Steve Viola</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
