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 |
| Concentrix Corp |
| Smb Private Education Loan Trust 2021-C |
| Regal Rexnord Corp |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of March 31, 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 |
| Freddie Mac Pool |
| Fremf 2019-K735 Mortgage Trust |
| 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 March 31, 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 |
|---|
| Encino Acquisition Partners Holdings Llc |
| Magnolia Oil & Gas Operating Llc / Magnolia Oil & Gas Finance Corp |
| Level 3 Financing Inc |
| Alumina Pty Ltd |
| Directv Financing Llc / Directv Financing Co-Obligor Inc |
| Nova Chemicals Corp |
| Expand Energy Corp |
| Service Corp International/Us |
| Vt Topco Inc |
| Cco Holdings Llc / Cco Holdings Capital Corp |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of March 31, 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 |
| United States Treasury Note/Bond |
| United States Treasury Note/Bond |
| United States Treasury Note/Bond |
| Amazon.Com Inc |
| Roper Technologies Inc |
| Becton Dickinson & Co |
| Nvidia Corp |
| Revvity Inc |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of March 31, 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 March 31, 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 |
| Alphabet Inc |
| Meta Platforms Inc |
| Eli Lilly & Co |
| Visa Inc |
| Mastercard Inc |
| Netflix Inc |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of March 31, 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 |
| Apple Inc |
| Nvidia Corp |
| Visa Inc |
| Accenture Plc |
| Aon Plc |
| Church & Dwight Co Inc |
| Alphabet Inc |
| Cms Energy Corp |
| Steris Plc |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of March 31, 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 |
| Visa Inc |
| Amazon.Com Inc |
| Unitedhealth Group Inc |
| Intercontinental Exchange Inc |
| Waste Connections Inc |
| Mastercard Inc |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of March 31, 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 |
|---|
| Philip Morris International Inc |
| Berkshire Hathaway Inc |
| Johnson & Johnson |
| Fiserv Inc |
| Walmart Inc |
| Jpmorgan Chase & Co |
| Citigroup Inc |
| S&P Global Inc |
| Accenture Plc |
| Rtx Corp |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of March 31, 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 |
|---|
| Exxon Mobil Corp |
| Unitedhealth Group Inc |
| Wells Fargo & Co |
| Bank Of America Corp |
| American International Group Inc |
| Mcdonald'S Corp |
| The Walt Disney Co |
| Cisco Systems Inc |
| Abbott Laboratories |
| 3m Co |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of March 31, 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 |
|---|
| Apple Inc |
| Microsoft Corp |
| Nvidia Corp |
| Amazon.Com Inc |
| Meta Platforms Inc |
| Berkshire Hathaway Inc |
| Alphabet Inc - Class A |
| Broadcom Inc |
| Alphabet Inc - Class C |
| Tesla Inc |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of March 31, 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 |
|---|
| Costar Group Inc |
| Idexx Laboratories Inc |
| Fastenal Co |
| Insulet Corp |
| Heico Corp |
| Veeva Systems Inc |
| Pool Corp |
| Howmet Aerospace Inc |
| Corpay Inc |
| Cencora Inc |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of March 31, 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 |
|---|
| Alliant Energy Corp |
| Casey'S General Stores Inc |
| Expand Energy Corp |
| Entergy Corp |
| Agree Realty Corp |
| Freeport-Mcmoran Inc |
| The Hartford Insurance Group Inc |
| Ally Financial Inc |
| Lkq Corp |
| Axis Capital Holdings Ltd |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of March 31, 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 |
| Us Bancorp |
| Norfolk Southern Corp |
| Truist Financial Corp |
| Labcorp Holdings Inc |
| Willis Towers Watson Plc |
| Evergy Inc |
| Vici Properties Inc |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of March 31, 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 |
|---|
| Kinsale Capital Group Inc |
| Applied Industrial Technologies Inc |
| Texas Roadhouse Inc |
| Loar Holdings Inc |
| Merit Medical Systems Inc |
| Sprouts Farmers Market Inc |
| Lattice Semiconductor Corp |
| Natera Inc |
| Badger Meter Inc |
| Rpm International Inc |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of March 31, 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 |
| Txnm Energy Inc |
| Ch Robinson Worldwide Inc |
| Encompass Health Corp |
| Idacorp Inc |
| The Hanover Insurance Group Inc |
| Cboe Global Markets Inc |
| Independence Realty Trust Inc |
| Nomad Foods Ltd |
| Jones Lang Lasalle Inc |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of March 31, 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 |
| Osi Systems Inc |
| Cboe Global Markets Inc |
| Crown Holdings Inc |
| The Descartes Systems Group Inc |
| Lpl Financial Holdings Inc |
| Mirion Technologies Inc |
| Globus Medical Inc |
| Sensient Technologies Corp |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of March 31, 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 |
| Southstate Corp |
| Umb Financial Corp |
| Independence Realty Trust Inc |
| Ameris Bancorp |
| Esco Technologies Inc |
| Mr Cooper Group Inc |
| Glacier Bancorp Inc |
| Renasant Corp |
| Arcosa Inc |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of March 31, 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 |
|---|
| Sprouts Farmers Market Inc |
| E-Mini Russ 2000 Jun25 |
| Insmed Inc |
| Ftai Aviation Ltd |
| Corcept Therapeutics Inc |
| Southstate Corp |
| Carpenter Technology Corp |
| Applied Industrial Technologies Inc |
| Mueller Industries Inc |
| Halozyme Therapeutics Inc |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of March 31, 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 Jun25 |
| Sap Se |
| Nestle Sa |
| Asml Holding Nv |
| Roche Holding Ag |
| Astrazeneca Plc |
| Shell Plc |
| Novo Nordisk A/S |
| Novartis Ag |
| Hsbc Holdings Plc |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of March 31, 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 |
| Rheinmetall Ag |
| Coca-Cola Europacific Partners Plc |
| Sap Se |
| Air Liquide Sa |
| Svenska Handelsbanken Ab |
| Games Workshop Group Plc |
| Tencent Holdings Ltd |
| Rb Global Inc |
| Amadeus It Group Sa |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of March 31, 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 |
|---|
| Tencent Holdings Ltd |
| Taiwan Semiconductor Manufacturing Co Ltd |
| Alibaba Group Holding Ltd |
| Aia Group Ltd |
| Icici Bank Ltd |
| President Chain Store Corp |
| Trip.Com Group Ltd |
| Eicher Motors Ltd |
| Meituan |
| Fomento Economico Mexicano Sab De Cv |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of March 31, 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 |
| Crown Castle Inc |
| American Tower Corp |
| Prologis Inc |
| Sba Communications Corp |
| Sun Communities Inc |
| Extra Space Storage Inc |
| Simon Property Group Inc |
| Equinix Inc |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of March 31, 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 |
| Real Estate Securities Fund |
| Mid Core Value Fund |
| Developed International Index |
| Large Core Value Fund |
| Large Core Growth Fund |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of March 31, 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 |
| Real Estate Securities Fund |
| Mid Core Value Fund |
| Developed International Index |
| Large Core Value Fund |
| Large Core Growth Fund |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of March 31, 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 |
| Real Estate Securities Fund |
| High Yield Bond Fund |
| International Equity Fund |
| Developed International Index |
| Large Cap Value Fund |
| Limited Maturity Bond Fund |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of March 31, 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 |
| Real Estate Securities Fund |
| International Equity Fund |
| Large Cap Value Fund |
| Mid Core Value Fund |
| Developed International Index |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of March 31, 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 |
| Flexibly Managed Fund |
| Index 500 Fund |
| High Yield Bond Fund |
| Real Estate Securities Fund |
| Mid Core Value Fund |
| Developed International Index |
| Large Core Value Fund |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of March 31, 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 - 4/16/25 |
| Fannie Mae Discount Notes - 4/29/25 |
| Federal Home Loan Bank Discount Notes - 4/1/25 |
| United States Treasury Bill - 4/3/25 |
| Freddie Mac Discount Notes - 5/1/25 |
| Federal Home Loan Bank Discount Notes - 5/2/25 |
| Freddie Mac Discount Notes - 5/6/25 |
| Federal Home Loan Bank Discount Notes - 5/14/25 |
| Federal Farm Credit Discount Notes - 6/16/25 |
| United States Treasury Bill - 6/24/25 |
1Total Annual Fund Operating Expenses as of May 1, 2025.
2Holdings information as of March 31, 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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