# EDGAR Filing Document

**Accession Number:** 0000742212
**File Stem:** 0001410368-25-029464
**Filing Date:** 2025-11
**Character Count:** 26579
**Document Hash:** 7a5063fd3e2729e5bb99384be4b5180a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-029464.hdr.sgml**: 20251124

**ACCESSION NUMBER**: 0001410368-25-029464

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251124

**DATE AS OF CHANGE**: 20251124

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NORTHWESTERN MUTUAL SERIES FUND INC
- **CENTRAL INDEX KEY:** 0000742212

**ORGANIZATION NAME:**
- **EIN:** 391603401
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-03990
- **FILM NUMBER:** 251511973

**BUSINESS ADDRESS:**
- **STREET 1:** 720 E WISCONSIN AVE
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202
- **BUSINESS PHONE:** 4142992508

**MAIL ADDRESS:**
- **STREET 1:** 720 EAST WISCONSIN AVE
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NORTHWESTERN MUTUAL VARIABLE LIFE SERIES FUND INC
- **DATE OF NAME CHANGE:** 19940830

## Series and Classes Contracts Data

### Active/Passive Conservative Portfolio (Series ID: S000091982)

| Class ID   | Class Name                            | Ticker Symbol   |
|:---|:---|:---|
| C000259888 | Active/Passive Conservative Portfolio |  |

## Nport-Ex

Active/Passive Conservative Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

SCHEDULE OF INVESTMENTS

**September 30, 2025 (unaudited)** 

---

| | | |
|:---|:---|:---|
| Investment Companies (98.0%) | Shares/Par <sup>+</sup> | Value<br> $(000's) |
|  **Commodities (1.5%)** |  |  |
|  abrdn Bloomberg All Commodity Strategy K-1 Free ETF | 18984 | 409 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total** |  | **409** |
|  **Domestic Equity (16.0%)** |  |  |
|  Invesco S&P 500 Equal Weight ETF | 1412 | 268 |
|  iShares Core S&P 500 ETF | 747 | 500 |
|  iShares MSCI USA Value Factor ETF | 2210 | 277 |
|  Northwestern Mutual Series Fund, Inc., Domestic Equity Portfolio £ | 299613 | 443 |
|  Northwestern Mutual Series Fund, Inc., Focused Appreciation Portfolio £ | 94342 | 445 |
|  Northwestern Mutual Series Fund, Inc., Large Cap Blend Portfolio £ | 402018 | 451 |
|  Northwestern Mutual Series Fund, Inc., Mid Cap Growth Stock Portfolio £ | 62367 | 196 |
|  Northwestern Mutual Series Fund, Inc., Mid Cap Value Portfolio £ | 130711 | 199 |
|  Schwab U.S. REIT ETF | 15730 | 339 |
|  SPDR Dow Jones REIT ETF | 3453 | 346 |
|  SPDR Portfolio S&P 400 Mid Cap ETF | 10941 | 626 |
|  SPDR Portfolio S&P 600 Small Cap ETF | 5835 | 270 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total** |  | **4360** |
|  **Fixed Income (72.2%)** |  |  |
|  iShares Core U.S. Aggregate Bond ETF | 71727 | 7191 |
|  Northwestern Mutual Series Fund, Inc., Multi-Sector Bond Portfolio £ | 2815772 | 2827 |
|  Northwestern Mutual Series Fund, Inc., Select Bond Portfolio £ | 6171702 | 6789 |

---

---

| | | |
|:---|:---|:---|
| Investment Companies (98.0%) | Shares/Par <sup>+</sup> | Value<br> $(000's) |
|  **Fixed Income continued** |  |  |
|  Northwestern Mutual Series Fund, Inc., Short-Term Bond Portfolio £ | 648047 | 673 |
|  SPDR Portfolio Long Term Treasury ETF | 80020 | 2156 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total** |  | **19636** |
|  **Foreign Equity (8.3%)** |  |  |
|  Dimensional International Value ETF | 2987 | 138 |
|  iShares Core MSCI EAFE ETF | 4421 | 386 |
|  iShares Core MSCI Emerging Markets ETF | 220 | 14 |
|  iShares MSCI International Quality Factor ETF | 4623 | 204 |
|  Northwestern Mutual Series Fund, Inc., Emerging Markets Equity Portfolio £ | 421275 | 517 |
|  Northwestern Mutual Series Fund, Inc., International Equity Portfolio £ | 317683 | 645 |
|  Northwestern Mutual Series Fund, Inc., International Growth Portfolio £ | 161652 | 354 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total** |  | **2258** |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies (Cost: $26,645)** | &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies (Cost: $26,645)** | **26663** |
| Short-Term Investments (1.0%) |  |  |
|  **Investment Companies (1.0%)** |  |  |
|  JPMorgan Ultra-Short Income ETF | 5290 | 269 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total** |  | **269** |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Short-Term Investments (Cost: $268)** |  | **269** |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investments (99.0%) (Cost: $26,913)<sup>@</sup>** |  | **26932** |
| &nbsp;&nbsp;&nbsp;&nbsp; **Other Assets, Less Liabilities (1.0%)** |  | **276** |
| &nbsp;&nbsp;&nbsp;&nbsp; **Net Assets (100.0%)** |  | **27208** |

---

+ All par is stated in U.S. Dollar unless otherwise noted.

---

| | |
|:---|:---|
| £| Affiliated Company  |

---

---

| | |
|:---|:---|
| @ | At September 30, 2025, the aggregate cost of investments, including derivatives, for federal tax purposes (in thousands) was $26,913 and the net unrealized appreciation of investments based on that cost was $19 which is comprised of $357 aggregate gross unrealized appreciation and $338 aggregate gross unrealized depreciation. Because tax adjustments are calculated annually, these amounts do not reflect tax adjustments.  |

---

**1** 

------

Active/Passive Conservative Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

The Fair Value Measurements and Disclosures Topic of the FASB Accounting Standards Codification defines fair value as the price that a Fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes and requires disclosure of a fair value hierarchy, separately for each major category of asset and liability, which segregates fair value measurements into levels. A summary of the fair value hierarchy is described below:

Level 1 - fair value is determined by unadjusted quoted prices in active markets for identical securities or derivatives

Level 2 - fair value is determined by other significant observable inputs

Level 3 - fair value is determined by significant unobservable inputs

The categorization of a value determined for a financial instrument within the hierarchy is based upon the pricing transparency of the instrument and does not necessarily correspond to the Portfolio's perceived risk of that instrument.

The following is a summary of the inputs used in valuing the Portfolio's Investments at September 30, 2025.

---

| | | | |
|:---|:---|:---|:---|
| | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Valuation Inputs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Valuation Inputs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Valuation Inputs |
| <br>**Description** | **Level 1 - Quoted**<br> **Prices** | **Level 2 - Other**<br> **Significant**<br> **Observable Inputs** | **Level 3**<br> **- Significant<br> Unobservable <br>Inputs** |
|  | *(Amounts in thousands)* | *(Amounts in thousands)* | *(Amounts in thousands)* |
|  Assets: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investment Companies | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26663 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Investments | 269 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Assets: | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26932 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

---

**Transactions with Affiliated Companies** 

An affiliated company is a company in which a Portfolio has ownership of at least 5% of the voting securities or which the Portfolio controls, is controlled by or with which the Portfolio is under common control. Transactions with affiliated companies during the period ended September 30, 2025 are as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Portfolio | Value at<br>Beginning<br>of Period | Purchases | Sales | Value at<br>9/30/2025 | Change in<br> Unrealized<br>Appreciation/<br>(Depreciation) | Realized<br> Gain (Loss) | Income<br>Dividends | Capital Gain<br>Distributions | Shares at<br>9/30/2025 |
|  | *(amount in thousands)* | *(amount in thousands)* | *(amount in thousands)* | *(amount in thousands)* | *(amount in thousands)* | *(amount in thousands)* | *(amount in thousands)* | *(amount in thousands)* | *(amount in thousands)* |
|  Domestic Equity | $– | $464 | $– | $443 | $(21) | $– | $8 | $38 | 300 |
|  Emerging Markets |  | 499 | 52 | 517 | 64 | 6 | 6 |  | 421 |
|  Focused Appreciation |  | 474 |  | 445 | (29) |  |  | 56 | 94 |
|  International Equity |  | 623 |  | 645 | 22 |  | 15 | 6 | 318 |
|  International Growth |  | 356 |  | 354 | (2) |  | 3 | 13 | 162 |
|  Large Cap Blend |  | 468 |  | 451 | (17) |  | 2 | 51 | 402 |
|  Mid Cap Growth Stock |  | 219 |  | 196 | (23) |  |  | 31 | 62 |
|  Mid Cap Value |  | 205 |  | 199 | (6) |  | 5 | 13 | 131 |
|  Multi-Sector Bond |  | 2898 |  | 2827 | (71) |  | 149 |  | 2816 |
|  Select Bond |  | 6941 |  | 6789 | (152) |  | 288 |  | 6172 |
|  Short-Term Bond |  | 692 |  | 673 | (19) |  | 27 |  | 648 |
|  | $– | $13839 | $52 | $13539 | $(254) | $6 | $503 | $208 | 11525 |

---

**2** 

------

Abbreviations (unaudited)

**Abbreviations that may be used in the preceding statements** 

---

| | |
|:---|:---|
|  ADR | American Depositary Receipt |
|  AFC | Available Funds Cap security - Security accrues interest at an assumed or uncapped rate. If the interest rate on the underlying loans is lower than the uncapped rate, then the security will pay at the lower rate. |
|  CSTR | Collateral Strip Rate security - interest is based on the weighted net interest rate of the collateral. |
|  IO | Interest Only Security |
|  PO | Principal Only Security |
|  RB | Revenue Bond |
|  CPURNSA | U.S. Consumer Price Index - All Urban Consumers - Not Seasonally Adjusted |
|  IBOR | Interbank Offered Rate |
|  LIBOR | London Interbank Offered Rate |
|  SOFR | Secured Overnight Financing Rate |
|  CME | Chicago Mercantile Exchange |
|  ICE | Intercontinental Exchange |
|  FTSE | Financial Times Stock Exchange |
|  SONIO | Sterling Overnight Interbank Average Rate |
|  MUTKCALM | Bank of Japan Unsecured Overnight Call Rate |
|  DAC | Designated Activity Company |
|  RSC | Restricted Scope Company |
|  KSC | Kuwait Shareholding Company |
|  TBA | To Be Announced |
|  CMT | Constant Maturity Treasury |
|  OIS | Overnight Index Swaps |
|  BBR | Bank Bill Rate |
|  BBSW | Bank Bill Swap Reference Rate |
|  DIFC | Dubai International Financial Centre |
|  EURIBOR | Euro Interbank Offered Rate |
|  PRIBOR | Prague Interbank Offered Rate |
|  SDR | Swedish Depository Receipt |
|  ETF | Exchange Traded Fund |
|  **Currency Abbreviations** | **Currency Abbreviations** |
|  AED | United Arab Emirates Dirham |
|  AUD | Australian Dollar |
|  BRL | Brazilian Real |
|  CAD | Canadian Dollar |
|  CHF | Swiss Franc |
|  CNH | Chinese Yuan Renminbi - Offshore |
|  CNY | Chinese Yuan Renminbi |
|  CZK | Czech Koruna |
|  DKK | Danish Krone |
|  EGP | Egyptian Pound |
|  EUR | Euro |
|  GBP | British Pound |
|  HKD | Hong Kong Dollar |
|  IDR | Indonesian Rupiah |
|  ILS | Israeli Shekel |
|  INR | Indian Rupee |
|  JPY | Japanese Yen |
|  KRW | South Korean Won |
|  MXN | Mexican New Peso |
|  NGN | Nigerian Naira |
|  NOK | Norwegian Krone |
|  NZD | New Zealand Dollar |
|  PEN | Peruvian Sol |
|  PLN | Polish Zloty |
|  RUB | Russian Ruble |
|  SAR | Saudi Riyal |
|  SEK | Swedish Krona |
|  SGD | Singapore Dollar |
|  THB | Thai Baht |
|  TRY | Turkish Lira |
|  TWD | Taiwan Dollar |
|  USD | United States Dollar |
|  ZAR | South African Rand |

---

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** NORTHWESTERN MUTUAL SERIES FUND INC

- **b. Investment Company Act file number:** 811-03990

- **c. CIK number of Registrant:** 0000742212

- **d. LEI of Registrant:** 549300T1UBX7MDSNZA55

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 720 E WISCONSIN AVE

  - **City:** MILWAUKEE

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53202

  - **Telephone number:** 414-271-1444

**Item A.2. Information about the Series.**

- **a. Name of Series:** Active/Passive Conservative Portfolio

- **b. EDGAR series identifier (if any):** S000091982

- **c. LEI of Series:** 2549005F3XTNPU5M6F29

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-09-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $27243111.77

**Total Liabilities:** $36466.20

**Net Assets:** $27206645.57

**Cash Not Reported:** $294869.04

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000259888 | 0.00%                | 1.60%                | 1.67%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $-16837.58                                 |
| Month 2  | $965.85                  | $368675.36                                 |
| Month 3  | $13655.70                | $-323615.29                                |

### Schedule of Portfolio Investments

| Name                                                                      | Title                                               | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| JPMorgan Ultra-Short Income ETF                                           | JPMorgan Ultra-Short Income ETF                     | CUSIP: 46641Q837<br>LEI: 549300VN24B8TQAGGX74 | Long             | EC               | RF                | US        |      5290 | NS      | $268361.70    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Northwestern Mutual Series Fund, Inc. - International Growth Portfolio    | International Growth Portfolio                      | CUSIP: 668140684<br>LEI: A7EFFZCFPQNSS1P3HZ68 | Long             | EC               | RF                | US        |    161652 | NS      | $354178.67    | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Northwestern Mutual Series Fund, Inc. - Domestic Equity Portfolio         | DOMESTIC EQUITY PORTFOLIO                           | CUSIP: 668140791<br>LEI: 5493004TKKI7X6F71K84 | Long             | EC               | RF                | US        |    299613 | NS      | $442828.10    | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Northwestern Mutual Series Fund, Inc. - Focused Appreciation Portfolio    | FOCUSED APPRECIATION PORTFOLIO                      | CUSIP: 668140775<br>LEI: 5493007QO6Z6UMWHLZ04 | Long             | EC               | RF                | US        |     94342 | NS      | $445296.38    | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Core U.S. Aggregate Bond ETF                                      | iShares Core U.S. Aggregate Bond ETF                | CUSIP: 464287226<br>LEI: 549300F7VSXTKBGHJE47 | Long             | EC               | RF                | US        |     71727 | NS      | $7190631.75   | 26.43%            |  |  |  | No            |                  1 | On Loan: No      |
| iShares MSCI Intl Quality Factor ETF                                      | iShares MSCI Intl Quality Factor ETF                | CUSIP: 46434V456<br>LEI: 549300NCBUPWCYENVS18 | Long             | EC               | RF                | US        |      4623 | NS      | $204290.37    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Schwab U.S. REIT ETF                                                      | Schwab U.S. REIT ETF                                | CUSIP: 808524847<br>LEI: 549300OLDKO120DR6467 | Long             | EC               |  | US        |     15350 | NS      | $331099.50    | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Northwestern Mutual Series Fund, Inc. - Select Bond Portfolio             | Select Bond Portfolio                               | CUSIP: 668140759<br>LEI: 03DZ35VFRGD62UKLL347 | Long             | EC               | RF                | US        |   6122256 | NS      | $6734481.86   | 24.75%            |  |  |  | No            |                  1 | On Loan: No      |
| abrdn Bloomberg All Commodity Strategy K-1 Free ETF                       | abrdn Bloomberg All Commodity Strategy K-1 Free ETF | CUSIP: 003261104<br>LEI: 549300PWXO8WGDSMS419 | Long             | EC               | RF                | US        |     18984 | NS      | $408915.36    | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Northwestern Mutual Series Fund, Inc. - Multi-Sector Bond Portfolio       | PIMCO MULTI SECTOR BD PORT MUTUAL FUND              | CUSIP: 668140882<br>LEI: P0C14V6IL3O47L1ZG636 | Long             | EC               | RF                | US        |   2815772 | NS      | $2827034.86   | 10.39%            |  |  |  | No            |                  1 | On Loan: No      |
| Northwestern Mutual Series Fund, Inc. - International Equity Portfolio    | International Equity Portfolio                      | CUSIP: 668140692<br>LEI: 5493009J2EF7GK480170 | Long             | EC               | RF                | US        |    317683 | NS      | $644579.51    | 2.37%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR Portfolio Long Term Treasury ETF                                     | SPDR Portfolio Long Term Treasury ETF               | CUSIP: 78464A664<br>LEI: 549300GYQKAMF6JUVI06 | Long             | EC               | RF                | US        |     80020 | NS      | $2156539.00   | 7.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Dimensional International Value ETF                                       | Dimensional International Value ETF                 | CUSIP: 25434V807<br>LEI: 549300F3EUNKP4DGBS58 | Long             | EC               | RF                | US        |      2987 | NS      | $137760.44    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco S&P 500 Equal Weight ETF                                          | Invesco S&P 500 Equal Weight ETF                    | CUSIP: 46137V357<br>LEI: 549300F8VBQFIX481R47 | Long             | EC               | RF                | US        |      1412 | NS      | $267856.40    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR Portfolio S&P 400 Mid Cap ETF                                        | SPDR Portfolio S&P 400 Mid Cap ETF                  | CUSIP: 78464A847<br>LEI: 549300TKUU0ZLRVSLJ96 | Long             | EC               | RF                | US        |     10751 | NS      | $614849.69    | 2.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Northwestern Mutual Series Fund, Inc. - Short-Term Bond Portfolio.        | Short Term Bond Portolio                            | CUSIP: 668140601<br>LEI: BEEDB5U9NNUVQYFFEL15 | Long             | EC               | RF                | US        |    648047 | NS      | $673321.32    | 2.47%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares MSCI USA Value Factor ETF                                         | iShares MSCI USA Value Factor ETF                   | CUSIP: 46432F388<br>LEI: 549300QCMVXVCAPD3O82 | Long             | EC               | RF                | US        |      2210 | NS      | $276360.50    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Northwestern Mutual Series Fund, Inc. - Mid Cap Value Portfolio           | MID CAP VALUE PORTFOLIO                             | CUSIP: 668140783<br>LEI: 8TRVIGMWHSWZVXP7PI34 | Long             | EC               | RF                | US        |    130711 | NS      | $198942.51    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Northwestern Mutual Series Fund, Inc. - Emerging Markets Equity Portfolio | MFS EMERGING MKTS PORT                              | CUSIP: 668140502<br>LEI: 549300B2SFS01R9MCJ10 | Long             | EC               | RF                | US        |    463386 | NS      | $568574.43    | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR Dow Jones REIT ETF                                                   | SPDR Dow Jones REIT ETF                             | CUSIP: 78464A607<br>LEI: 54930077YVRJPO64VF50 | Long             | EC               |  | US        |      3373 | NS      | $338278.17    | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Core MSCI EAFE ETF                                                | iShares Core MSCI EAFE ETF                          | CUSIP: 46432F842<br>LEI: 5493009FT582MI7Y3I36 | Long             | EC               | RF                | US        |      4291 | NS      | $374647.21    | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Core MSCI Emerging Markets ETF                                    | iShares Core MSCI Emerging Markets ETF              | CUSIP: 46434G103<br>LEI: 5493007C24Z3ZDJ0VD06 | Long             | EC               | RF                | US        |       220 | NS      | $14502.40     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Core S&P 500 ETF                                                  | iShares Core S&P 500 ETF                            | CUSIP: 464287200<br>LEI: 5493007M4YMN8XL48C14 | Long             | EC               | RF                | US        |       817 | NS      | $546818.10    | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR Portfolio S&P 600 Small Cap ETF                                      | SPDR Portfolio S&P 600 Small Cap ETF                | CUSIP: 78468R853<br>LEI: 549300NYZX301TBLUJ08 | Long             | EC               | RF                | US        |      5835 | NS      | $270277.20    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Northwestern Mutual Series Fund, Inc. - Large Cap Blend Portfolio         | LARGE CAP BLEND PORT                                | CUSIP: 668140205<br>LEI: 549300J8IDGQV6XROU84 | Long             | EC               | RF                | US        |    402018 | NS      | $450662.50    | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Northwestern Mutual Series Fund, Inc. - Mid Cap Growth Stock Portfolio    | MID CAP GROWTH PORTFOLIO                            | CUSIP: 668140866<br>LEI: LIP0ME8UWTR611J45283 | Long             | EC               | RF                | US        |     62367 | NS      | $196269.91    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-28

**Name of Applicant:** NORTHWESTERN MUTUAL SERIES FUND INC

**Signature:** Linda Wisniewski

**Name of Signer:** Linda Wisniewski

**Title:** Controller and Chief Accounting Officer