Penn Series Information
Fund Profiles
| Investment Adviser | |
| Investment Sub-Adviser | |
| Total Annual Fund Operating Expenses1 |
Penn Series Limited Maturity Bond Fund
Seeks to maximize total return consistent with preservation of capital
The Fund invests primarily in short- to intermediate-term investment grade debt securities of the U.S. government and corporate issuers.
| Advisers and Expenses | |
|---|---|
| Investment Adviser | Penn Mutual Asset Management, LLC |
| Investment Sub-Adviser | N/A |
| Total Annual Fund Operating Expenses1 | 0.73% |
| Top 10 Holdings2 |
|---|
| Gs Mortgage-Backed Securities Trust 2021-Pj7 |
| Vista Point Securitization Trust 2020-1 |
| Slm Student Loan Trust 2014-2 |
| Bsprt 2021-Fl6 Issuer Ltd |
| Sba Tower Trust |
| Nelnet Student Loan Trust 2004-4 |
| Ecmc Group Student Loan Trust 2018-2 |
| United States Treasury Bill |
| Regal Rexnord Corp |
| Towd Point Mortgage Trust 2020-4 |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of June 30, 2025.
Investors should consider the investment objectives, risks, charges and expenses of a variable insurance product carefully before investing. There is no guarantee the stated investment strategy will result in a positive return or that investment objective will be met. Please carefully read the prospectuses for the relevant variable insurance product as well as its underlying investment options, which contain this and other information about the product. You can obtain a prospectus from Penn Mutual or a Registered Representative. Penn Mutual's investment options are not available for direct investment, are available only through the Penn Mutual line of variable insurance products and are subject to market risk and may lose value. Penn Mutual's variable products are primarily offered through Hornor, Townsend & Kent, LLC (HTK), Registered Investment Adviser, Member FINRA/SIPC, Eight Tower Bridge, 161 Washington Street, Suite 1111, Conshohocken, PA 19428, 800-873-7637. HTK is a wholly owned subsidiary of The Penn Mutual Life Insurance Company.
Penn Series Quality Bond Fund
Seeks the to maximize total return over the long term consistent with the preservation of capital
The Fund invests primarily in marketable investment grade debt securities that are believed to be undervalued based on their quality, maturity and sector in the marketplace.
| Advisers and Expenses | |
|---|---|
| Investment Adviser | Penn Mutual Asset Management, LLC |
| Investment Sub-Adviser | N/A |
| Total Annual Fund Operating Expenses1 | 0.68% |
| Top 10 Holdings2 |
|---|
| United States Treasury Note/Bond |
| Fannie Mae Pool |
| Freddie Mac Pool |
| Freddie Mac Remics |
| Sequoia Mortgage Trust 2013-3 |
| Fremf 2019-K735 Mortgage Trust |
| Freddie Mac Pool |
| Fremf 2016-K52 Mortgage Trust |
| Fremf 2019-K102 Mortgage Trust |
| Benchmark 2019-B9 Mortgage Trust |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of June 30, 2025.
Investors should consider the investment objectives, risks, charges and expenses of a variable insurance product carefully before investing. There is no guarantee the stated investment strategy will result in a positive return or that investment objective will be met. Please carefully read the prospectuses for the relevant variable insurance product as well as its underlying investment options, which contain this and other information about the product. You can obtain a prospectus from Penn Mutual or a Registered Representative. Penn Mutual's investment options are not available for direct investment, are available only through the Penn Mutual line of variable insurance products and are subject to market risk and may lose value. Penn Mutual's variable products are primarily offered through Hornor, Townsend & Kent, LLC (HTK), Registered Investment Adviser, Member FINRA/SIPC, Eight Tower Bridge, 161 Washington Street, Suite 1111, Conshohocken, PA 19428, 800-873-7637. HTK is a wholly owned subsidiary of The Penn Mutual Life Insurance Company.
Penn Series High Yield Bond Fund
Seeks to realize high current income
The Fund invests primarily in high-yield corporate bonds that are rated below investment grade, as well as income producing convertible securities and preferred stocks.
| Advisers and Expenses | |
|---|---|
| Investment Adviser | Penn Mutual Asset Management, LLC |
| Investment Sub-Adviser | N/A |
| Total Annual Fund Operating Expenses1 | 0.74% |
| Top 10 Holdings2 |
|---|
| Vistra Corp |
| Alumina Pty Ltd |
| Level 3 Financing Inc |
| Whirlpool Corp |
| Energy Transfer Lp |
| Encompass Health Corp |
| Nova Chemicals Corp |
| Expand Energy Corp |
| Service Corp International/Us |
| Cco Holdings Llc / Cco Holdings Capital Corp |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of June 30, 2025.
Investors should consider the investment objectives, risks, charges and expenses of a variable insurance product carefully before investing. There is no guarantee the stated investment strategy will result in a positive return or that investment objective will be met. Please carefully read the prospectuses for the relevant variable insurance product as well as its underlying investment options, which contain this and other information about the product. You can obtain a prospectus from Penn Mutual or a Registered Representative. Penn Mutual's investment options are not available for direct investment, are available only through the Penn Mutual line of variable insurance products and are subject to market risk and may lose value. Penn Mutual's variable products are primarily offered through Hornor, Townsend & Kent, LLC (HTK), Registered Investment Adviser, Member FINRA/SIPC, Eight Tower Bridge, 161 Washington Street, Suite 1111, Conshohocken, PA 19428, 800-873-7637. HTK is a wholly owned subsidiary of The Penn Mutual Life Insurance Company.
Penn Series Flexibly Managed Fund
Seeks to maximize total return (capital apprecaition and income)
The Fund invests in common stocks of well established U.S. companies with above-average potential for capital growth as well as convertible securities, preferred stocks, corporate and governmental debt securities.
| Advisers and Expenses | |
|---|---|
| Investment Adviser | Penn Mutual Asset Management, LLC |
| Investment Sub-Adviser | T. Rowe Price Associates, Inc. |
| Total Annual Fund Operating Expenses1 | 0.87% |
| Top 10 Holdings2 |
|---|
| Microsoft Corp |
| United States Treasury Note/Bond |
| Amazon.Com Inc |
| United States Treasury Note/Bond |
| Nvidia Corp |
| United States Treasury Note/Bond |
| Becton Dickinson & Co |
| Roper Technologies Inc |
| United States Treasury Note/Bond |
| Ptc Inc |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of June 30, 2025.
Investors should consider the investment objectives, risks, charges and expenses of a variable insurance product carefully before investing. There is no guarantee the stated investment strategy will result in a positive return or that investment objective will be met. Please carefully read the prospectuses for the relevant variable insurance product as well as its underlying investment options, which contain this and other information about the product. You can obtain a prospectus from Penn Mutual or a Registered Representative. Penn Mutual's investment options are not available for direct investment, are available only through the Penn Mutual line of variable insurance products and are subject to market risk and may lose value. Penn Mutual's variable products are primarily offered through Hornor, Townsend & Kent, LLC (HTK), Registered Investment Adviser, Member FINRA/SIPC, Eight Tower Bridge, 161 Washington Street, Suite 1111, Conshohocken, PA 19428, 800-873-7637. HTK is a wholly owned subsidiary of The Penn Mutual Life Insurance Company.
Penn Series Balanced Fund
Seeks long-term growth and current income
The Fund invests in a combination of underlying Penn Series Funds with an allocation strategy designed to provide a mix of the growth opportunities of stock investing with the income opportunities of fixed income securities.
| Advisers and Expenses | |
|---|---|
| Investment Adviser | Penn Mutual Asset Management, LLC |
| Investment Sub-Adviser | N/A |
| Total Annual Fund Operating Expenses1 | 0.67% |
| Top 10 Holdings2 |
|---|
| Index 500 Fund |
| Quality Bond Fund |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of June 30, 2025.
Investors should consider the investment objectives, risks, charges and expenses of a variable insurance product carefully before investing. There is no guarantee the stated investment strategy will result in a positive return or that investment objective will be met. Please carefully read the prospectuses for the relevant variable insurance product as well as its underlying investment options, which contain this and other information about the product. You can obtain a prospectus from Penn Mutual or a Registered Representative. Penn Mutual's investment options are not available for direct investment, are available only through the Penn Mutual line of variable insurance products and are subject to market risk and may lose value. Penn Mutual's variable products are primarily offered through Hornor, Townsend & Kent, LLC (HTK), Registered Investment Adviser, Member FINRA/SIPC, Eight Tower Bridge, 161 Washington Street, Suite 1111, Conshohocken, PA 19428, 800-873-7637. HTK is a wholly owned subsidiary of The Penn Mutual Life Insurance Company.
Penn Series Large Growth Stock Fund
Seeks long-term capital growth
The Fund invests in common stocks of well established companies that are believed to have long-term growth potential and an above-average rate of earnings growth.
| Advisers and Expenses | |
|---|---|
| Investment Adviser | Penn Mutual Asset Management, LLC |
| Investment Sub-Adviser | T. Rowe Price Associates, Inc. |
| Total Annual Fund Operating Expenses1 | 0.93% |
| Top 10 Holdings2 |
|---|
| Microsoft Corp |
| Nvidia Corp |
| Apple Inc |
| Amazon.Com Inc |
| Meta Platforms Inc |
| Broadcom Inc |
| Alphabet Inc |
| Netflix Inc |
| Visa Inc |
| Eli Lilly & Co |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of June 30, 2025.
Investors should consider the investment objectives, risks, charges and expenses of a variable insurance product carefully before investing. There is no guarantee the stated investment strategy will result in a positive return or that investment objective will be met. Please carefully read the prospectuses for the relevant variable insurance product as well as its underlying investment options, which contain this and other information about the product. You can obtain a prospectus from Penn Mutual or a Registered Representative. Penn Mutual's investment options are not available for direct investment, are available only through the Penn Mutual line of variable insurance products and are subject to market risk and may lose value. Penn Mutual's variable products are primarily offered through Hornor, Townsend & Kent, LLC (HTK), Registered Investment Adviser, Member FINRA/SIPC, Eight Tower Bridge, 161 Washington Street, Suite 1111, Conshohocken, PA 19428, 800-873-7637. HTK is a wholly owned subsidiary of The Penn Mutual Life Insurance Company.
Penn Series Large Cap Growth Fund
Seeks to achieve long-term capital appreciation
The Fund invests in companies believed to have above average earnings growth potential compared to other growth companies.
| Advisers and Expenses | |
|---|---|
| Investment Adviser | Penn Mutual Asset Management, LLC |
| Investment Sub-Adviser | Massachusetts Financial Services Company |
| Total Annual Fund Operating Expenses1 | 0.86% |
| Top 10 Holdings2 |
|---|
| Microsoft Corp |
| Nvidia Corp |
| Apple Inc |
| Visa Inc |
| Accenture Plc |
| Salesforce Inc |
| Transunion |
| Alphabet Inc |
| Eaton Corp Plc |
| Aon Plc |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of June 30, 2025.
Investors should consider the investment objectives, risks, charges and expenses of a variable insurance product carefully before investing. There is no guarantee the stated investment strategy will result in a positive return or that investment objective will be met. Please carefully read the prospectuses for the relevant variable insurance product as well as its underlying investment options, which contain this and other information about the product. You can obtain a prospectus from Penn Mutual or a Registered Representative. Penn Mutual's investment options are not available for direct investment, are available only through the Penn Mutual line of variable insurance products and are subject to market risk and may lose value. Penn Mutual's variable products are primarily offered through Hornor, Townsend & Kent, LLC (HTK), Registered Investment Adviser, Member FINRA/SIPC, Eight Tower Bridge, 161 Washington Street, Suite 1111, Conshohocken, PA 19428, 800-873-7637. HTK is a wholly owned subsidiary of The Penn Mutual Life Insurance Company.
Penn Series Large Core Growth Fund
Seeks to provide growth of capital
The Fund invests in securities of companies with strong name recognition and sustainable competitive advantages.
| Advisers and Expenses | |
|---|---|
| Investment Adviser | Penn Mutual Asset Management, LLC |
| Investment Sub-Adviser | Delaware Investments Fund Advisers |
| Total Annual Fund Operating Expenses1 | 0.85% |
| Top 10 Holdings2 |
|---|
| Microsoft Corp |
| Nvidia Corp |
| Apple Inc |
| Alphabet Inc |
| Amazon.Com Inc |
| Visa Inc |
| Intercontinental Exchange Inc |
| Mastercard Inc |
| Intuit Inc |
| Salesforce Inc |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of June 30, 2025.
Investors should consider the investment objectives, risks, charges and expenses of a variable insurance product carefully before investing. There is no guarantee the stated investment strategy will result in a positive return or that investment objective will be met. Please carefully read the prospectuses for the relevant variable insurance product as well as its underlying investment options, which contain this and other information about the product. You can obtain a prospectus from Penn Mutual or a Registered Representative. Penn Mutual's investment options are not available for direct investment, are available only through the Penn Mutual line of variable insurance products and are subject to market risk and may lose value. Penn Mutual's variable products are primarily offered through Hornor, Townsend & Kent, LLC (HTK), Registered Investment Adviser, Member FINRA/SIPC, Eight Tower Bridge, 161 Washington Street, Suite 1111, Conshohocken, PA 19428, 800-873-7637. HTK is a wholly owned subsidiary of The Penn Mutual Life Insurance Company.
Penn Series Large Cap Value Fund
Seeks to achieve long-term growth of capital
The Fund invests in securities of companies it believes possess a structual competitve advantage or durable market leadership position.
| Advisers and Expenses | |
|---|---|
| Investment Adviser | Penn Mutual Asset Management, LLC |
| Investment Sub-Adviser | AllianceBernstein L.P. |
| Total Annual Fund Operating Expenses1 | 0.96% |
| Top 10 Holdings2 |
|---|
| Jpmorgan Chase & Co |
| Berkshire Hathaway Inc |
| Philip Morris International Inc |
| Johnson & Johnson |
| Walmart Inc |
| Rtx Corp |
| Eog Resources Inc |
| Texas Instruments Inc |
| S&P Global Inc |
| Elevance Health Inc |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of June 30, 2025.
Investors should consider the investment objectives, risks, charges and expenses of a variable insurance product carefully before investing. There is no guarantee the stated investment strategy will result in a positive return or that investment objective will be met. Please carefully read the prospectuses for the relevant variable insurance product as well as its underlying investment options, which contain this and other information about the product. You can obtain a prospectus from Penn Mutual or a Registered Representative. Penn Mutual's investment options are not available for direct investment, are available only through the Penn Mutual line of variable insurance products and are subject to market risk and may lose value. Penn Mutual's variable products are primarily offered through Hornor, Townsend & Kent, LLC (HTK), Registered Investment Adviser, Member FINRA/SIPC, Eight Tower Bridge, 161 Washington Street, Suite 1111, Conshohocken, PA 19428, 800-873-7637. HTK is a wholly owned subsidiary of The Penn Mutual Life Insurance Company.
Penn Series Large Core Value Fund
Seeks total return
The Fund invests primarily in dividend-paying value stocks and may also invest in REITs, non-income producing stocks and fixed-income securities such as convertible debt.
| Advisers and Expenses | |
|---|---|
| Investment Adviser | Penn Mutual Asset Management, LLC |
| Investment Sub-Adviser | Eaton Vance Management |
| Total Annual Fund Operating Expenses1 | 0.91% |
| Top 10 Holdings2 |
|---|
| Bank Of America Corp |
| Amazon.Com Inc |
| Wells Fargo & Co |
| The Charles Schwab Corp |
| American International Group Inc |
| 3m Co |
| Abbott Laboratories |
| Reinsurance Group Of America Inc |
| Nextera Energy Inc |
| Cisco Systems Inc |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of June 30, 2025.
Investors should consider the investment objectives, risks, charges and expenses of a variable insurance product carefully before investing. There is no guarantee the stated investment strategy will result in a positive return or that investment objective will be met. Please carefully read the prospectuses for the relevant variable insurance product as well as its underlying investment options, which contain this and other information about the product. You can obtain a prospectus from Penn Mutual or a Registered Representative. Penn Mutual's investment options are not available for direct investment, are available only through the Penn Mutual line of variable insurance products and are subject to market risk and may lose value. Penn Mutual's variable products are primarily offered through Hornor, Townsend & Kent, LLC (HTK), Registered Investment Adviser, Member FINRA/SIPC, Eight Tower Bridge, 161 Washington Street, Suite 1111, Conshohocken, PA 19428, 800-873-7637. HTK is a wholly owned subsidiary of The Penn Mutual Life Insurance Company.
Penn Series Index 500 Fund
Seeks a total return (capital appreciation and income) which corresponds to that of the S&P 500® Index
The Fund invests in securities of the S&P 500 Index in an attempt to replicate the performance of the Index.
| Advisers and Expenses | |
|---|---|
| Investment Adviser | Penn Mutual Asset Management, LLC |
| Investment Sub-Adviser | SSGA Funds Management, Inc. |
| Total Annual Fund Operating Expenses1 | 0.34% |
| Top 10 Holdings2 |
|---|
| Nvidia Corp |
| Microsoft Corp |
| Apple Inc |
| Amazon.Com Inc |
| Meta Platforms Inc |
| Broadcom Inc |
| Alphabet Inc - Class A |
| Berkshire Hathaway Inc |
| Tesla Inc |
| Alphabet Inc - Class C |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of June 30, 2025.
Investors should consider the investment objectives, risks, charges and expenses of a variable insurance product carefully before investing. There is no guarantee the stated investment strategy will result in a positive return or that investment objective will be met. Please carefully read the prospectuses for the relevant variable insurance product as well as its underlying investment options, which contain this and other information about the product. You can obtain a prospectus from Penn Mutual or a Registered Representative. Penn Mutual's investment options are not available for direct investment, are available only through the Penn Mutual line of variable insurance products and are subject to market risk and may lose value. Penn Mutual's variable products are primarily offered through Hornor, Townsend & Kent, LLC (HTK), Registered Investment Adviser, Member FINRA/SIPC, Eight Tower Bridge, 161 Washington Street, Suite 1111, Conshohocken, PA 19428, 800-873-7637. HTK is a wholly owned subsidiary of The Penn Mutual Life Insurance Company.
Penn Series Mid Cap Growth Fund
Seeks to maximize capital appreciation
The Fund invests in equity securities believed to have strong earnings growth potential and that are diversified across economic sectors.
| Advisers and Expenses | |
|---|---|
| Investment Adviser | Penn Mutual Asset Management, LLC |
| Investment Sub-Adviser | Delaware Investments Fund Advisers |
| Total Annual Fund Operating Expenses1 | 0.96% |
| Top 10 Holdings2 |
|---|
| Idexx Laboratories Inc |
| Costar Group Inc |
| Royal Caribbean Cruises Ltd |
| Insulet Corp |
| Cloudflare Inc |
| Fastenal Co |
| Datadog Inc |
| Howmet Aerospace Inc |
| Heico Corp |
| Lpl Financial Holdings Inc |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of June 30, 2025.
Investors should consider the investment objectives, risks, charges and expenses of a variable insurance product carefully before investing. There is no guarantee the stated investment strategy will result in a positive return or that investment objective will be met. Please carefully read the prospectuses for the relevant variable insurance product as well as its underlying investment options, which contain this and other information about the product. You can obtain a prospectus from Penn Mutual or a Registered Representative. Penn Mutual's investment options are not available for direct investment, are available only through the Penn Mutual line of variable insurance products and are subject to market risk and may lose value. Penn Mutual's variable products are primarily offered through Hornor, Townsend & Kent, LLC (HTK), Registered Investment Adviser, Member FINRA/SIPC, Eight Tower Bridge, 161 Washington Street, Suite 1111, Conshohocken, PA 19428, 800-873-7637. HTK is a wholly owned subsidiary of The Penn Mutual Life Insurance Company.
Penn Series Mid Cap Value Fund
Seeks to achieve growth of capital
The Fund invests in the equity securities of high quality companies believed to be trading at substantial discount to their intrinsic value where there is a strategic plan or event that is expected to both enhance value and narrow the value/price gap.
| Advisers and Expenses | |
|---|---|
| Investment Adviser | Penn Mutual Asset Management, LLC |
| Investment Sub-Adviser | Janus Henderson Investors US LLC |
| Total Annual Fund Operating Expenses1 | 0.83% |
| Top 10 Holdings2 |
|---|
| Casey'S General Stores Inc |
| Expand Energy Corp |
| Freeport-Mcmoran Inc |
| Alliant Energy Corp |
| The Hartford Insurance Group Inc |
| Bwx Technologies Inc |
| Agree Realty Corp |
| Axis Capital Holdings Ltd |
| Transunion |
| Ally Financial Inc |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of June 30, 2025.
Investors should consider the investment objectives, risks, charges and expenses of a variable insurance product carefully before investing. There is no guarantee the stated investment strategy will result in a positive return or that investment objective will be met. Please carefully read the prospectuses for the relevant variable insurance product as well as its underlying investment options, which contain this and other information about the product. You can obtain a prospectus from Penn Mutual or a Registered Representative. Penn Mutual's investment options are not available for direct investment, are available only through the Penn Mutual line of variable insurance products and are subject to market risk and may lose value. Penn Mutual's variable products are primarily offered through Hornor, Townsend & Kent, LLC (HTK), Registered Investment Adviser, Member FINRA/SIPC, Eight Tower Bridge, 161 Washington Street, Suite 1111, Conshohocken, PA 19428, 800-873-7637. HTK is a wholly owned subsidiary of The Penn Mutual Life Insurance Company.
Penn Series Mid Core Value Fund
Seeks to achieve capital appreciation
The Fund invests in companies whose stock price may not reflect the company's value and hold each stock until its price more accurately reflects the fair value of the company.
| Advisers and Expenses | |
|---|---|
| Investment Adviser | Penn Mutual Asset Management, LLC |
| Investment Sub-Adviser | American Century Investment Management, Inc. |
| Total Annual Fund Operating Expenses1 | 1.04% |
| Top 10 Holdings2 |
|---|
| Zimmer Biomet Holdings Inc |
| Enterprise Products Partners Lp |
| Henry Schein Inc |
| Truist Financial Corp |
| Us Bancorp |
| Willis Towers Watson Plc |
| Northern Trust Corp |
| Labcorp Holdings Inc |
| Kenvue Inc |
| Norfolk Southern Corp |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of June 30, 2025.
Investors should consider the investment objectives, risks, charges and expenses of a variable insurance product carefully before investing. There is no guarantee the stated investment strategy will result in a positive return or that investment objective will be met. Please carefully read the prospectuses for the relevant variable insurance product as well as its underlying investment options, which contain this and other information about the product. You can obtain a prospectus from Penn Mutual or a Registered Representative. Penn Mutual's investment options are not available for direct investment, are available only through the Penn Mutual line of variable insurance products and are subject to market risk and may lose value. Penn Mutual's variable products are primarily offered through Hornor, Townsend & Kent, LLC (HTK), Registered Investment Adviser, Member FINRA/SIPC, Eight Tower Bridge, 161 Washington Street, Suite 1111, Conshohocken, PA 19428, 800-873-7637. HTK is a wholly owned subsidiary of The Penn Mutual Life Insurance Company.
Penn Series SMID Cap Growth Fund
Seeks long-term growth of capital
The Fund invests in small- and medium-sized growth companies believed to have unique business models, sustainable growth and knowledgeable management teams.
| Advisers and Expenses | |
|---|---|
| Investment Adviser | Penn Mutual Asset Management, LLC |
| Investment Sub-Adviser | Goldman Sachs Asset Management, L.P. |
| Total Annual Fund Operating Expenses1 | 1.04% |
| Top 10 Holdings2 |
|---|
| Toast Inc |
| Natera Inc |
| Loar Holdings Inc |
| Texas Roadhouse Inc |
| Credo Technology Group Holding Ltd |
| Guidewire Software Inc |
| Applied Industrial Technologies Inc |
| Sharkninja Hong Kong Co Ltd |
| Shake Shack Inc |
| Kinsale Capital Group Inc |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of June 30, 2025.
Investors should consider the investment objectives, risks, charges and expenses of a variable insurance product carefully before investing. There is no guarantee the stated investment strategy will result in a positive return or that investment objective will be met. Please carefully read the prospectuses for the relevant variable insurance product as well as its underlying investment options, which contain this and other information about the product. You can obtain a prospectus from Penn Mutual or a Registered Representative. Penn Mutual's investment options are not available for direct investment, are available only through the Penn Mutual line of variable insurance products and are subject to market risk and may lose value. Penn Mutual's variable products are primarily offered through Hornor, Townsend & Kent, LLC (HTK), Registered Investment Adviser, Member FINRA/SIPC, Eight Tower Bridge, 161 Washington Street, Suite 1111, Conshohocken, PA 19428, 800-873-7637. HTK is a wholly owned subsidiary of The Penn Mutual Life Insurance Company.
Penn Series SMID Cap Value Fund
Seeks long-term growth of capital
The Fund invests in small- and medium-sized companies that are believed to be undervalued and have long-term earnings potential.
| Advisers and Expenses | |
|---|---|
| Investment Adviser | Penn Mutual Asset Management, LLC |
| Investment Sub-Adviser | AllianceBernstein L.P. |
| Total Annual Fund Operating Expenses1 | 1.16% |
| Top 10 Holdings2 |
|---|
| Bj'S Wholesale Club Holdings Inc |
| Encompass Health Corp |
| Txnm Energy Inc |
| Jones Lang Lasalle Inc |
| Idacorp Inc |
| Nexstar Media Group Inc |
| The Hanover Insurance Group Inc |
| Tenet Healthcare Corp |
| Pentair Plc |
| Rpm International Inc |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of June 30, 2025.
Investors should consider the investment objectives, risks, charges and expenses of a variable insurance product carefully before investing. There is no guarantee the stated investment strategy will result in a positive return or that investment objective will be met. Please carefully read the prospectuses for the relevant variable insurance product as well as its underlying investment options, which contain this and other information about the product. You can obtain a prospectus from Penn Mutual or a Registered Representative. Penn Mutual's investment options are not available for direct investment, are available only through the Penn Mutual line of variable insurance products and are subject to market risk and may lose value. Penn Mutual's variable products are primarily offered through Hornor, Townsend & Kent, LLC (HTK), Registered Investment Adviser, Member FINRA/SIPC, Eight Tower Bridge, 161 Washington Street, Suite 1111, Conshohocken, PA 19428, 800-873-7637. HTK is a wholly owned subsidiary of The Penn Mutual Life Insurance Company.
Penn Series Small Cap Growth Fund
Seeks capital appreciation
The Fund invests in small capitalization companies with differentiated business models and sustainable competitive advantages; holds these companies to capture more growth potential over a longer period.
| Advisers and Expenses | |
|---|---|
| Investment Adviser | Penn Mutual Asset Management, LLC |
| Investment Sub-Adviser | Janus Henderson Investors US LLC |
| Total Annual Fund Operating Expenses1 | 0.99% |
| Top 10 Holdings2 |
|---|
| Ss&C Technologies Holdings Inc |
| Stride Inc |
| Mirion Technologies Inc |
| Osi Systems Inc |
| Crown Holdings Inc |
| Sensient Technologies Corp |
| Lpl Financial Holdings Inc |
| The Descartes Systems Group Inc |
| Shift4 Payments Inc |
| Casey'S General Stores Inc |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of June 30, 2025.
Investors should consider the investment objectives, risks, charges and expenses of a variable insurance product carefully before investing. There is no guarantee the stated investment strategy will result in a positive return or that investment objective will be met. Please carefully read the prospectuses for the relevant variable insurance product as well as its underlying investment options, which contain this and other information about the product. You can obtain a prospectus from Penn Mutual or a Registered Representative. Penn Mutual's investment options are not available for direct investment, are available only through the Penn Mutual line of variable insurance products and are subject to market risk and may lose value. Penn Mutual's variable products are primarily offered through Hornor, Townsend & Kent, LLC (HTK), Registered Investment Adviser, Member FINRA/SIPC, Eight Tower Bridge, 161 Washington Street, Suite 1111, Conshohocken, PA 19428, 800-873-7637. HTK is a wholly owned subsidiary of The Penn Mutual Life Insurance Company.
Penn Series Small Cap Value Fund
Seeks capital appreciation
The Funds invests in well-positioned cash generating businesses at a price considered low enough to help provide a healthy margin of safety.
| Advisers and Expenses | |
|---|---|
| Investment Adviser | Penn Mutual Asset Management, LLC |
| Investment Sub-Adviser | Goldman Sachs Asset Management, L.P. |
| Total Annual Fund Operating Expenses1 | 0.98% |
| Top 10 Holdings2 |
|---|
| Txnm Energy Inc |
| Ameris Bancorp |
| Umb Financial Corp |
| Glacier Bancorp Inc |
| Renasant Corp |
| Atlantic Union Bankshares Corp |
| Cadence Bank |
| Pennymac Financial Services Inc |
| Gates Industrial Corp Plc |
| Independence Realty Trust Inc |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of June 30, 2025.
Investors should consider the investment objectives, risks, charges and expenses of a variable insurance product carefully before investing. There is no guarantee the stated investment strategy will result in a positive return or that investment objective will be met. Please carefully read the prospectuses for the relevant variable insurance product as well as its underlying investment options, which contain this and other information about the product. You can obtain a prospectus from Penn Mutual or a Registered Representative. Penn Mutual's investment options are not available for direct investment, are available only through the Penn Mutual line of variable insurance products and are subject to market risk and may lose value. Penn Mutual's variable products are primarily offered through Hornor, Townsend & Kent, LLC (HTK), Registered Investment Adviser, Member FINRA/SIPC, Eight Tower Bridge, 161 Washington Street, Suite 1111, Conshohocken, PA 19428, 800-873-7637. HTK is a wholly owned subsidiary of The Penn Mutual Life Insurance Company.
Penn Series Small Cap Index Fund
Seeks a replicate the returns and characteristics of a small cap index
The Fund invests in securities of companies included in the Russell 2000 Index to attempt to replicate the performance of the Index.
| Advisers and Expenses | |
|---|---|
| Investment Adviser | Penn Mutual Asset Management, LLC |
| Investment Sub-Adviser | SSGA Funds Management, Inc. |
| Total Annual Fund Operating Expenses1 | 0.71% |
| Top 10 Holdings2 |
|---|
| Credo Technology Group Holding Ltd |
| E-Mini Russ 2000 Sep25 |
| Fabrinet |
| Ionq Inc |
| Hims & Hers Health Inc |
| Healthequity Inc |
| The Ensign Group Inc |
| Fluor Corp |
| Blueprint Medicines Corp |
| Aerovironment Inc |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of June 30, 2025.
Investors should consider the investment objectives, risks, charges and expenses of a variable insurance product carefully before investing. There is no guarantee the stated investment strategy will result in a positive return or that investment objective will be met. Please carefully read the prospectuses for the relevant variable insurance product as well as its underlying investment options, which contain this and other information about the product. You can obtain a prospectus from Penn Mutual or a Registered Representative. Penn Mutual's investment options are not available for direct investment, are available only through the Penn Mutual line of variable insurance products and are subject to market risk and may lose value. Penn Mutual's variable products are primarily offered through Hornor, Townsend & Kent, LLC (HTK), Registered Investment Adviser, Member FINRA/SIPC, Eight Tower Bridge, 161 Washington Street, Suite 1111, Conshohocken, PA 19428, 800-873-7637. HTK is a wholly owned subsidiary of The Penn Mutual Life Insurance Company.
Penn Series Developed International Index Fund
Seeks to replicate the returns and characteristics of an international index composed of securities from developed countries
The Fund invests in securities listed in the Morgan Stanley Capital International Europe, Australia, Far East (MSCI EAFE) Index in an attempt to replicate the Index.
| Advisers and Expenses | |
|---|---|
| Investment Adviser | Penn Mutual Asset Management, LLC |
| Investment Sub-Adviser | SSGA Funds Management, Inc. |
| Total Annual Fund Operating Expenses1 | 0.94% |
| Top 10 Holdings2 |
|---|
| Msci Eafe Sep25 |
| Sap Se |
| Asml Holding Nv |
| Nestle Sa |
| Novartis Ag |
| Roche Holding Ag |
| Novo Nordisk A/S |
| Astrazeneca Plc |
| Hsbc Holdings Plc |
| Shell Plc |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of June 30, 2025.
Investors should consider the investment objectives, risks, charges and expenses of a variable insurance product carefully before investing. There is no guarantee the stated investment strategy will result in a positive return or that investment objective will be met. Please carefully read the prospectuses for the relevant variable insurance product as well as its underlying investment options, which contain this and other information about the product. You can obtain a prospectus from Penn Mutual or a Registered Representative. Penn Mutual's investment options are not available for direct investment, are available only through the Penn Mutual line of variable insurance products and are subject to market risk and may lose value. Penn Mutual's variable products are primarily offered through Hornor, Townsend & Kent, LLC (HTK), Registered Investment Adviser, Member FINRA/SIPC, Eight Tower Bridge, 161 Washington Street, Suite 1111, Conshohocken, PA 19428, 800-873-7637. HTK is a wholly owned subsidiary of The Penn Mutual Life Insurance Company.
Penn Series International Equity Fund
Seeks to achieve capital appreciation
The Fund invests primarily in higher quality growth companies with consistent operating histories, financial performance and long-term prospects operating in Europe and the Pacific Basin.
| Advisers and Expenses | |
|---|---|
| Investment Adviser | Penn Mutual Asset Management, LLC |
| Investment Sub-Adviser | Vontobel Asset Management, Inc. |
| Total Annual Fund Operating Expenses1 | 1.05% |
| Top 10 Holdings2 |
|---|
| Philip Morris International Inc |
| Capcom Co Ltd |
| Rheinmetall Ag |
| Svenska Handelsbanken Ab |
| Galderma Group Ag |
| Tencent Holdings Ltd |
| Games Workshop Group Plc |
| Universal Music Group Nv |
| Deutsche Boerse Ag |
| Chocoladefabriken Lindt & Spruengli Ag |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of June 30, 2025.
Investors should consider the investment objectives, risks, charges and expenses of a variable insurance product carefully before investing. There is no guarantee the stated investment strategy will result in a positive return or that investment objective will be met. Please carefully read the prospectuses for the relevant variable insurance product as well as its underlying investment options, which contain this and other information about the product. You can obtain a prospectus from Penn Mutual or a Registered Representative. Penn Mutual's investment options are not available for direct investment, are available only through the Penn Mutual line of variable insurance products and are subject to market risk and may lose value. Penn Mutual's variable products are primarily offered through Hornor, Townsend & Kent, LLC (HTK), Registered Investment Adviser, Member FINRA/SIPC, Eight Tower Bridge, 161 Washington Street, Suite 1111, Conshohocken, PA 19428, 800-873-7637. HTK is a wholly owned subsidiary of The Penn Mutual Life Insurance Company.
Penn Series Emerging Markets Equity Fund
Seeks to achieve capital appreciation
The Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in equity securities (or equity-linked instruments) of issuers of any capitalization located in emerging market countries.
| Advisers and Expenses | |
|---|---|
| Investment Adviser | Penn Mutual Asset Management, LLC |
| Investment Sub-Adviser | Vontobel Asset Management, Inc. |
| Total Annual Fund Operating Expenses1 | 1.32% |
| Top 10 Holdings2 |
|---|
| Taiwan Semiconductor Manufacturing Co Ltd |
| Tencent Holdings Ltd |
| Aia Group Ltd |
| Sk Hynix Inc |
| Eurobank Ergasias Services And Holdings Sa |
| Mercadolibre Inc |
| Hong Kong Exchanges & Clearing Ltd |
| Bharti Airtel Ltd |
| Netease Inc |
| Bajaj Finance Ltd |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of June 30, 2025.
Investors should consider the investment objectives, risks, charges and expenses of a variable insurance product carefully before investing. There is no guarantee the stated investment strategy will result in a positive return or that investment objective will be met. Please carefully read the prospectuses for the relevant variable insurance product as well as its underlying investment options, which contain this and other information about the product. You can obtain a prospectus from Penn Mutual or a Registered Representative. Penn Mutual's investment options are not available for direct investment, are available only through the Penn Mutual line of variable insurance products and are subject to market risk and may lose value. Penn Mutual's variable products are primarily offered through Hornor, Townsend & Kent, LLC (HTK), Registered Investment Adviser, Member FINRA/SIPC, Eight Tower Bridge, 161 Washington Street, Suite 1111, Conshohocken, PA 19428, 800-873-7637. HTK is a wholly owned subsidiary of The Penn Mutual Life Insurance Company.
Penn Series Real Estate Securities Fund
Seeks to achieve a high total return consistent with reasonable investment risks
The Fund invests in common stocks and other equity securities issued by real estate companies of any market capitalization, including real estate investment trusts (REITs).
| Advisers and Expenses | |
|---|---|
| Investment Adviser | Penn Mutual Asset Management, LLC |
| Investment Sub-Adviser | Cohen & Steers Capital Management, Inc. |
| Total Annual Fund Operating Expenses1 | 0.97% |
| Top 10 Holdings2 |
|---|
| Welltower Inc |
| Digital Realty Trust Inc |
| American Tower Corp |
| Crown Castle Inc |
| Sba Communications Corp |
| Prologis Inc |
| Sun Communities Inc |
| Invitation Homes Inc |
| Extra Space Storage Inc |
| Equinix Inc |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of June 30, 2025.
Investors should consider the investment objectives, risks, charges and expenses of a variable insurance product carefully before investing. There is no guarantee the stated investment strategy will result in a positive return or that investment objective will be met. Please carefully read the prospectuses for the relevant variable insurance product as well as its underlying investment options, which contain this and other information about the product. You can obtain a prospectus from Penn Mutual or a Registered Representative. Penn Mutual's investment options are not available for direct investment, are available only through the Penn Mutual line of variable insurance products and are subject to market risk and may lose value. Penn Mutual's variable products are primarily offered through Hornor, Townsend & Kent, LLC (HTK), Registered Investment Adviser, Member FINRA/SIPC, Eight Tower Bridge, 161 Washington Street, Suite 1111, Conshohocken, PA 19428, 800-873-7637. HTK is a wholly owned subsidiary of The Penn Mutual Life Insurance Company.
Penn Series Aggressive Allocation Fund
Seeks to achieve long-term capital growth consistent with its asset allocation strategy
The Fund invests using a fund-of-funds strategy investing in a combination of other portfolios of Penn Series Funds, Inc. in accordance with its target asset allocations (85%-100% of its assets in equity funds and 0%-15% of its assets in fixed income and money market funds).
| Advisers and Expenses | |
|---|---|
| Investment Adviser | Penn Mutual Asset Management, LLC |
| Investment Sub-Adviser | N/A |
| Total Annual Fund Operating Expenses1 | 1.13% |
| Top 10 Holdings2 |
|---|
| Index 500 Fund |
| Flexibly Managed Fund |
| International Equity Fund |
| Large Cap Value Fund |
| Quality Bond Fund |
| Large Growth Stock |
| Developed International Index |
| Mid Core Value Fund |
| Real Estate Securities Fund |
| Large Core Growth Fund |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of June 30, 2025.
Investors should consider the investment objectives, risks, charges and expenses of a variable insurance product carefully before investing. There is no guarantee the stated investment strategy will result in a positive return or that investment objective will be met. Please carefully read the prospectuses for the relevant variable insurance product as well as its underlying investment options, which contain this and other information about the product. You can obtain a prospectus from Penn Mutual or a Registered Representative. Penn Mutual's investment options are not available for direct investment, are available only through the Penn Mutual line of variable insurance products and are subject to market risk and may lose value. Penn Mutual's variable products are primarily offered through Hornor, Townsend & Kent, LLC (HTK), Registered Investment Adviser, Member FINRA/SIPC, Eight Tower Bridge, 161 Washington Street, Suite 1111, Conshohocken, PA 19428, 800-873-7637. HTK is a wholly owned subsidiary of The Penn Mutual Life Insurance Company.
Penn Series Moderately Aggressive Allocation Fund
Seeks to achieve long-term capital growth and current income consistent with its asset allocation strategy
The Fund invests using a fund-of-funds strategy investing in a combination of other portfolios of Penn Series Funds, Inc. in accordance with its target asset allocations (70%-100% of its assets in equity funds and 0%-30% of its assets in fixed income and money market funds).
| Advisers and Expenses | |
|---|---|
| Investment Adviser | Penn Mutual Asset Management, LLC |
| Investment Sub-Adviser | N/A |
| Total Annual Fund Operating Expenses1 | 1.08% |
| Top 10 Holdings2 |
|---|
| Index 500 Fund |
| Quality Bond Fund |
| Flexibly Managed Fund |
| International Equity Fund |
| Large Cap Value Fund |
| Developed International Index |
| Mid Core Value Fund |
| Real Estate Securities Fund |
| Large Core Value Fund |
| Large Growth Stock |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of June 30, 2025.
Investors should consider the investment objectives, risks, charges and expenses of a variable insurance product carefully before investing. There is no guarantee the stated investment strategy will result in a positive return or that investment objective will be met. Please carefully read the prospectuses for the relevant variable insurance product as well as its underlying investment options, which contain this and other information about the product. You can obtain a prospectus from Penn Mutual or a Registered Representative. Penn Mutual's investment options are not available for direct investment, are available only through the Penn Mutual line of variable insurance products and are subject to market risk and may lose value. Penn Mutual's variable products are primarily offered through Hornor, Townsend & Kent, LLC (HTK), Registered Investment Adviser, Member FINRA/SIPC, Eight Tower Bridge, 161 Washington Street, Suite 1111, Conshohocken, PA 19428, 800-873-7637. HTK is a wholly owned subsidiary of The Penn Mutual Life Insurance Company.
Penn Series Moderate Allocation Fund
Seeks to achieve long-term capital growth and current income consistent with its asset allocation strategy
The Fund invests using a fund-of-funds strategy investing in a combination of other portfolios of Penn Series Funds, Inc. in accordance with its target asset allocations (50%-70% of its assets in equity funds and 30%-50% of its assets in fixed income and money market funds).
| Advisers and Expenses | |
|---|---|
| Investment Adviser | Penn Mutual Asset Management, LLC |
| Investment Sub-Adviser | N/A |
| Total Annual Fund Operating Expenses1 | 1.05% |
| Top 10 Holdings2 |
|---|
| Quality Bond Fund |
| Index 500 Fund |
| Flexibly Managed Fund |
| Mid Core Value Fund |
| Developed International Index |
| International Equity Fund |
| High Yield Bond Fund |
| Real Estate Securities Fund |
| Large Cap Value Fund |
| Limited Maturity Bond Fund |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of June 30, 2025.
Investors should consider the investment objectives, risks, charges and expenses of a variable insurance product carefully before investing. There is no guarantee the stated investment strategy will result in a positive return or that investment objective will be met. Please carefully read the prospectuses for the relevant variable insurance product as well as its underlying investment options, which contain this and other information about the product. You can obtain a prospectus from Penn Mutual or a Registered Representative. Penn Mutual's investment options are not available for direct investment, are available only through the Penn Mutual line of variable insurance products and are subject to market risk and may lose value. Penn Mutual's variable products are primarily offered through Hornor, Townsend & Kent, LLC (HTK), Registered Investment Adviser, Member FINRA/SIPC, Eight Tower Bridge, 161 Washington Street, Suite 1111, Conshohocken, PA 19428, 800-873-7637. HTK is a wholly owned subsidiary of The Penn Mutual Life Insurance Company.
Penn Series Moderately Conservative Allocation Fund
Seeks to achieve long-term capital growth and current income consistent with its asset allocation strategy
The Fund invests using a fund-of-funds strategy investing in a combination of other portfolios of Penn Series Funds, Inc. in accordance with its target asset allocations (30%-50% of its assets in equity funds and 50%-70% of its assets in fixed income and money market funds).
| Advisers and Expenses | |
|---|---|
| Investment Adviser | Penn Mutual Asset Management, LLC |
| Investment Sub-Adviser | N/A |
| Total Annual Fund Operating Expenses1 | 1.05% |
| Top 10 Holdings2 |
|---|
| Quality Bond Fund |
| Index 500 Fund |
| Flexibly Managed Fund |
| Limited Maturity Bond Fund |
| High Yield Bond Fund |
| International Equity Fund |
| Real Estate Securities Fund |
| Large Cap Value Fund |
| Developed International Index |
| Mid Core Value Fund |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of June 30, 2025.
Investors should consider the investment objectives, risks, charges and expenses of a variable insurance product carefully before investing. There is no guarantee the stated investment strategy will result in a positive return or that investment objective will be met. Please carefully read the prospectuses for the relevant variable insurance product as well as its underlying investment options, which contain this and other information about the product. You can obtain a prospectus from Penn Mutual or a Registered Representative. Penn Mutual's investment options are not available for direct investment, are available only through the Penn Mutual line of variable insurance products and are subject to market risk and may lose value. Penn Mutual's variable products are primarily offered through Hornor, Townsend & Kent, LLC (HTK), Registered Investment Adviser, Member FINRA/SIPC, Eight Tower Bridge, 161 Washington Street, Suite 1111, Conshohocken, PA 19428, 800-873-7637. HTK is a wholly owned subsidiary of The Penn Mutual Life Insurance Company.
Penn Series Conservative Allocation Fund
Seeks to achieve long-term capital growth and current income consistent with its asset allocation strategy
The Fund invests using a fund-of-funds strategy investing in a combination of other portfolios of Penn Series Funds, Inc. in accordance with its target asset allocations (20%-40% of its assets in equity funds and 60%-80% of its assets in fixed income and money market funds).
| Advisers and Expenses | |
|---|---|
| Investment Adviser | Penn Mutual Asset Management, LLC |
| Investment Sub-Adviser | N/A |
| Total Annual Fund Operating Expenses1 | 1.04% |
| Top 10 Holdings2 |
|---|
| Quality Bond Fund |
| Limited Maturity Bond Fund |
| Index 500 Fund |
| Flexibly Managed Fund |
| High Yield Bond Fund |
| Developed International Index |
| Mid Core Value Fund |
| Real Estate Securities Fund |
| Large Core Value Fund |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of June 30, 2025.
Investors should consider the investment objectives, risks, charges and expenses of a variable insurance product carefully before investing. There is no guarantee the stated investment strategy will result in a positive return or that investment objective will be met. Please carefully read the prospectuses for the relevant variable insurance product as well as its underlying investment options, which contain this and other information about the product. You can obtain a prospectus from Penn Mutual or a Registered Representative. Penn Mutual's investment options are not available for direct investment, are available only through the Penn Mutual line of variable insurance products and are subject to market risk and may lose value. Penn Mutual's variable products are primarily offered through Hornor, Townsend & Kent, LLC (HTK), Registered Investment Adviser, Member FINRA/SIPC, Eight Tower Bridge, 161 Washington Street, Suite 1111, Conshohocken, PA 19428, 800-873-7637. HTK is a wholly owned subsidiary of The Penn Mutual Life Insurance Company.
Penn Series Money Market Fund
Government money market fund that seeks current income, while preserving capital and liquidity
Invests only in U.S. dollar-denominated securities that are determined to present minimal credit risk and meet certain other criteria, including relating to maturity, diversification, liquidity and credit quality.
| Advisers and Expenses | |
|---|---|
| Investment Adviser | Penn Mutual Asset Management, LLC |
| Investment Sub-Adviser | N/A |
| Total Annual Fund Operating Expenses1 | 0.61% |
| Top 10 Holdings2 |
|---|
| Fannie Mae Discount Notes - 7/16/25 |
| Federal National Mortgage Association - 8/21/25 |
| Federal Farm Credit Discount Notes - 7/9/25 |
| Tennessee Valley Authority Discount Notes - 7/9/25 |
| Freddie Mac Discount Notes - 7/11/25 |
| Federal Farm Credit Discount Notes - 7/14/25 |
| United States Treasury Bill - 7/31/25 |
| Federal Farm Credit Discount Notes - 8/7/25 |
| United States Treasury Bill - 8/14/25 |
| United States Treasury Bill - 8/19/25 |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of June 30, 2025.
Investors should consider the investment objectives, risks, charges and expenses of a variable insurance product carefully before investing. There is no guarantee the stated investment strategy will result in a positive return or that investment objective will be met. Please carefully read the prospectuses for the relevant variable insurance product as well as its underlying investment options, which contain this and other information about the product. You can obtain a prospectus from Penn Mutual or a Registered Representative. Penn Mutual's investment options are not available for direct investment, are available only through the Penn Mutual line of variable insurance products and are subject to market risk and may lose value. Penn Mutual's variable products are primarily offered through Hornor, Townsend & Kent, LLC (HTK), Registered Investment Adviser, Member FINRA/SIPC, Eight Tower Bridge, 161 Washington Street, Suite 1111, Conshohocken, PA 19428, 800-873-7637. HTK is a wholly owned subsidiary of The Penn Mutual Life Insurance Company.
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