# EDGAR Filing Document

**Accession Number:** 0000742212
**File Stem:** 0001410368-25-029477
**Filing Date:** 2025-11
**Character Count:** 85148
**Document Hash:** 92a2291e6161a0c330d0421f90870a19
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-029477.hdr.sgml**: 20251124

**ACCESSION NUMBER**: 0001410368-25-029477

**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:** 251511986

**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

### Small Cap Value Portfolio (Series ID: S000000049)

| Class ID   | Class Name                | Ticker Symbol   |
|:---|:---|:---|
| C000000084 | Small Cap Value Portfolio |  |

## Nport-Ex

Small Cap Value Portfolio

SCHEDULE OF INVESTMENTS

**September 30, 2025 (unaudited)** 

---

| | | |
|:---|:---|:---|
| Common Stocks<br> (99.2%) | Shares/<br>Par <sup>+</sup> | Value<br>$(000's) |
|  **Communication Services (2.0%)** | **Communication Services (2.0%)** | **Communication Services (2.0%)** |
|  Liberty Media Corp. - Liberty Live - Class C \* | 46373 | 4497 |
|  Madison Square<br> Garden Sports Corp. \* | 11590 | 2631 |
|  The New York Times Co. - Class A | 81153 | 4658 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total** |  | **11786** |
|  **Consumer Discretionary (10.9%)** | **Consumer Discretionary (10.9%)** | **Consumer Discretionary (10.9%)** |
|  Abercrombie & Fitch Co. \* | 24829 | 2124 |
|  Advance Auto Parts, Inc. | 25679 | 1577 |
|  Black Rock Coffee Bar, Inc. - Class A \* | 21329 | 509 |
|  Boot Barn Holdings, Inc. \* | 11018 | 1826 |
|  Carvana Co. \* | 7840 | 2958 |
|  Champion Homes, Inc. \* | 31648 | 2417 |
|  Chewy, Inc. - Class A \* | 56795 | 2297 |
|  Coursera, Inc. \* | 102023 | 1195 |
|  Dorman Products, Inc. \* | 18459 | 2877 |
|  Dutch Bros, Inc. - Class A \* | 37905 | 1984 |
|  FIGS, Inc. - Class A \* | 309649 | 2072 |
|  Kontoor Brands, Inc. | 28937 | 2308 |
|  Marriott Vacations Worldwide Corp. | 34586 | 2302 |
|  Meritage Homes Corp. | 29109 | 2108 |
|  Papa John's International, Inc. | 52797 | 2542 |
|  Peloton Interactive, Inc. - Class A \* | 435179 | 3917 |
|  Savers Value Village, Inc. \* | 192770 | 2554 |
|  Steven Madden, Ltd. | 89150 | 2985 |
|  Strategic Education, Inc. | 65510 | 5635 |
|  Taylor Morrison Home Corp. \* | 90095 | 5947 |
|  Urban Outfitters, Inc. \* | 37099 | 2650 |
|  Victoria's Secret & Co. \* | 87671 | 2379 |
|  Visteon Corp. | 39299 | 4710 |
|  Wingstop, Inc. | 3710 | 934 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total** |  | **62807** |

---

---

| | | |
|:---|:---|:---|
| Common Stocks<br> (99.2%) | Shares/<br>Par <sup>+</sup> | Value<br>$(000's) |
|  **Consumer Staples (1.7%)** | **Consumer Staples (1.7%)** | **Consumer Staples (1.7%)** |
|  Grocery Outlet Holding Corp. \* | 150564 | 2416 |
|  Post Holdings, Inc. \* | 35691 | 3836 |
|  Reynolds Consumer Products, Inc. | 94113 | 2303 |
|  Turning Point Brands, Inc. | 14714 | 1455 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total** |  | **10010** |
|  **Energy (6.8%)** |  |  |
|  Cactus, Inc. - Class A | 58905 | 2325 |
|  Enerflex, Ltd. | 299139 | 3225 |
|  Expro Group Holdings<br>NV \* | 206273 | 2451 |
|  Magnolia Oil & Gas Corp. - Class A | 140007 | 3342 |
|  Matador Resources Co. | 112466 | 5053 |
|  Noble Corp. PLC | 84954 | 2402 |
|  PBF Energy, Inc. - Class A | 120126 | 3624 |
|  Permian Resources Corp. | 290387 | 3717 |
|  Range Resources Corp. | 128345 | 4831 |
|  Scorpio Tankers, Inc. | 54542 | 3057 |
|  TechnipFMC PLC | 127028 | 5011 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total** |  | **39038** |
|  **Financials (27.8%)** |  |  |
|  Accelerant Holdings -<br> Class A \* | 35984 | 536 |
|  Avidia Bancorp, Inc. \* | 137265 | 2051 |
|  Baldwin Insurance Group, Inc. \* | 49877 | 1407 |
|  Banc of California, Inc. | 298115 | 4934 |
|  BankUnited, Inc. | 85546 | 3265 |
|  Bullish \* | 6303 | 401 |
|  Cathay General Bancorp | 69115 | 3318 |
|  Coastal Financial Corp. \* | 48276 | 5222 |
|  Columbia Banking System, Inc. | 367636 | 9463 |
|  Eastern Bankshares, Inc. | 301156 | 5466 |
|  FB Financial Corp. | 118645 | 6613 |
|  Flagstar Financial, Inc. | 429626 | 4962 |
|  Goosehead Insurance, Inc. - Class A | 21343 | 1588 |
|  HA Sustainable Infrastructure Capital, Inc. | 182093 | 5590 |
|  Home BancShares, Inc. | 186604 | 5281 |

---

---

| | | |
|:---|:---|:---|
| Common Stocks<br> (99.2%) | Shares/<br>Par <sup>+</sup> | Value<br>$(000's) |
|  **Financials continued** |  |  |
|  Houlihan Lokey, Inc. | 35993 | 7390 |
|  Live Oak Bancshares, Inc. | 139040 | 4897 |
|  Marqueta, Inc. - Class A \* | 472354 | 2494 |
|  Miami International Holdings, Inc. \* | 10721 | 432 |
|  National Bank Holding Corp. | 56348 | 2177 |
|  Neptune Insurance Holdings, Inc. - Class A \* | 36509 | 730 |
|  Oscar Health, Inc. - Class A \* | 149209 | 2825 |
|  PennyMac Financial Services, Inc. | 71052 | 8802 |
|  PennyMac Mortgage Investment Trust | 201455 | 2470 |
|  Pinnacle Financial Partners, Inc. | 106108 | 9952 |
|  Popular, Inc. | 37339 | 4742 |
|  PRA Group, Inc. \* | 154684 | 2388 |
|  Preferred Bank - Los Angeles | 39331 | 3555 |
|  Primerica, Inc. | 7837 | 2176 |
|  RLI Corp. | 28073 | 1831 |
|  Root, Inc. - Class A \* | 12819 | 1147 |
|  Ryan Specialty Holdings, Inc. | 62901 | 3545 |
|  Sezzle, Inc. \* | 17673 | 1406 |
|  Southern First Bancshares, Inc. \* | 32696 | 1443 |
|  SouthState Bank Corp. | 61539 | 6084 |
|  StepStone Group, Inc. - Class A | 42886 | 2801 |
|  Synovus Financial Corp. | 59940 | 2942 |
|  Texas Capital Bancshares, Inc. \* | 67850 | 5735 |
|  Towne Bank | 142316 | 4920 |
|  Walker & Dunlop, Inc. | 43568 | 3643 |
|  Western Alliance Bancorp | 79606 | 6903 |
|  WSFS Financial Corp. | 56270 | 3035 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total** |  | **160562** |
|  **Health Care (9.4%)** |  |  |
|  10X Genomics, Inc. - Class A \* | 61375 | 717 |
|  Alignment Healthcare, Inc. \* | 163881 | 2860 |
|  Apellis Pharmaceuticals, Inc. \* | 21511 | 487 |
|  Arcellx, Inc. \* | 24645 | 2023 |

---

**1** 

------

Small Cap Value Portfolio

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

---

| | | |
|:---|:---|:---|
| Common Stocks<br> (99.2%) | Shares/<br>Par <sup>+</sup> | Value<br>$(000's) |
|  **Health Care continued** | **Health Care continued** | **Health Care continued** |
|  Ascendis Pharma A/S, ADR \* | 8859 | 1761 |
|  Avanos Medical, Inc. \* | 178071 | 2058 |
|  Black Diamond Therapeutics, Inc. \* | 201600 | 764 |
|  BrightSpring Health Services \* | 108418 | 3205 |
|  Concentra Group Holdings Parent, Inc. | 163198 | 3416 |
|  Crinetics Pharmaceuticals, Inc. \* | 27100 | 1129 |
|  CRISPR Therapeutics AG \* | 33247 | 2155 |
|  Cytokinetics, Inc. \* | 121600 | 6683 |
|  Doximity, Inc. - Class A \* | 37589 | 2750 |
|  Elanco Animal Health, Inc. \* | 218219 | 4395 |
|  Ensign Group, Inc. | 22239 | 3842 |
|  Immatics NV \* | 280177 | 2387 |
|  Immunocore Holdings PLC, ADR \* | 70211 | 2551 |
|  Immunovant, Inc. \* | 48710 | 785 |
|  Perrigo Co. PLC | 61948 | 1380 |
|  QuidelOrtho Corp. \* | 96912 | 2854 |
|  Sarepta Therapeutics, Inc. \* | 78949 | 1521 |
|  Sotera Health Co. \* | 180313 | 2836 |
|  Vaxcyte, Inc. \* | 50690 | 1826 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total** |  | **54385** |
|  **Industrials (13.4%)** | **Industrials (13.4%)** | **Industrials (13.4%)** |
|  Aebi Schmidt Holding AG | 144375 | 1800 |
|  Air Lease Corp. | 25515 | 1624 |
|  Alamo Group, Inc. | 7597 | 1450 |
|  Allegiant Travel Co. \* | 51922 | 3155 |
|  Arcosa, Inc. | 40552 | 3800 |
|  Casella Waste Systems, Inc. - Class A \* | 31383 | 2978 |
|  Crane Co. | 14480 | 2666 |
|  EnPro, Inc. | 10898 | 2463 |
|  ESAB Corp. | 19586 | 2189 |
|  ESCO Technologies, Inc. | 12016 | 2537 |
|  Firefly Aerospace Inc. \* | 7889 | 231 |
|  FTI Consulting, Inc. \* | 11397 | 1842 |
|  Hillenbrand, Inc. | 21956 | 594 |
|  JBT Marel Corp. | 18622 | 2615 |
|  Landstar System, Inc. | 12169 | 1491 |
|  Leonardo DRS, Inc. | 36985 | 1679 |
|  Matson, Inc. | 21118 | 2082 |
|  Mercury Systems, Inc. \* | 42215 | 3267 |
|  MSA Safety, Inc. | 11553 | 1988 |
|  NEXTracker, Inc. - Class A \* | 61135 | 4523 |
|  Pitney Bowes, Inc. | 65837 | 751 |

---

---

| | | |
|:---|:---|:---|
| Common Stocks<br> (99.2%) | Shares/<br>Par <sup>+</sup> | Value<br>$(000's) |
|  **Industrials continued** | **Industrials continued** | **Industrials continued** |
|  RBC Bearings, Inc. \* | 11444 | 4467 |
|  Rush Enterprises, Inc. - Class A | 58809 | 3145 |
|  Saia, Inc. \* | 5677 | 1700 |
|  SiteOne Landscape Supply, Inc. \* | 18926 | 2438 |
|  Sunrun, Inc. \* | 98181 | 1698 |
|  UFP Industries, Inc. | 31087 | 2906 |
|  UL Solutions, Inc. - Class A | 52441 | 3716 |
|  UniFirst Corp. | 7111 | 1189 |
|  Valmont Industries, Inc. | 7837 | 3039 |
|  VSE Corp. | 18670 | 3104 |
|  WillScot Holdings Corp. | 59243 | 1251 |
|  Zurn Elkay Water Solutions Corp. | 67477 | 3173 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total** |  | **77551** |
|  **Information Technology (7.8%)** | **Information Technology (7.8%)** | **Information Technology (7.8%)** |
|  Alarm.com Holdings, Inc. \* | 22898 | 1215 |
|  Applied Digital Corp. \* | 54284 | 1245 |
|  Entegris, Inc. | 21243 | 1964 |
|  Hut 8 Corp. \* | 78112 | 2719 |
|  i3 Verticals, Inc. - Class A \* | 55445 | 1800 |
|  Intapp, Inc. \* | 26893 | 1100 |
|  JFrog, Ltd. \* | 51656 | 2445 |
|  Lattice Semiconductor Corp. \* | 46599 | 3417 |
|  Littelfuse, Inc. | 14611 | 3784 |
|  MACOM Technology Solutions Holdings, Inc. \* | 29069 | 3619 |
|  Mirion Technologies, Inc. \* | 251999 | 5861 |
|  nCino, Inc. \* | 107338 | 2910 |
|  PAR Technology Corp. \* | 49234 | 1949 |
|  Sanmina Corp. \* | 9330 | 1074 |
|  Semtech Corp. \* | 17534 | 1253 |
|  TTM Technologies, Inc. \* | 31526 | 1816 |
|  Viavi Solutions, Inc. \* | 376838 | 4782 |
|  Workiva, Inc. \* | 26471 | 2279 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total** |  | **45232** |
|  **Materials (4.4%)** | **Materials (4.4%)** |  |
|  Cabot Corp. | 25227 | 1918 |
|  Commercial Metals Co. | 18744 | 1074 |
|  Constellium SE \* | 179579 | 2672 |
|  Element Solutions, Inc. | 153856 | 3873 |
|  H.B. Fuller Co. | 29587 | 1754 |
|  IAMGOLD Corp. \* | 151996 | 1965 |
|  OR Royalties, Inc. | 53423 | 2141 |
|  Quaker Chemical Corp. | 14149 | 1864 |
|  Reliance, Inc. | 15111 | 4244 |
|  Warrior Met Coal, Inc. | 48007 | 3055 |

---

---

| | | |
|:---|:---|:---|
| Common Stocks<br> (99.2%) | Shares/<br>Par <sup>+</sup> | Value<br> $(000's) |
|  **Materials continued** | **Materials continued** | **Materials continued** |
|  West Fraser Timber Co., Ltd. | 16245 | 1104 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total** |  | **25664** |
|  **Real Estate (9.0%)** |  |  |
|  CareTrust REIT, Inc. | 131338 | 4555 |
|  CubeSmart LP | 78796 | 3204 |
|  Curbline Properties Corp. | 258825 | 5772 |
|  EastGroup Properties, Inc. | 15106 | 2557 |
|  FirstService Corp. | 15633 | 2978 |
|  Highwoods Properties, Inc. | 120491 | 3834 |
|  Hudson Pacific Properties, Inc. \* | 393227 | 1085 |
|  Independence Realty Trust, Inc. | 314079 | 5148 |
|  Kilroy Realty Corp. | 109065 | 4608 |
|  The Macerich Co. | 184982 | 3367 |
|  NETSTREIT Corp. | 165803 | 2994 |
|  Pebblebrook Hotel Trust | 269130 | 3065 |
|  Ryman Hospitality Properties, Inc. | 27569 | 2470 |
|  Safehold, Inc. | 145336 | 2251 |
|  Terreno Realty Corp. | 70582 | 4005 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total** |  | **51893** |
|  **Utilities (6.0%)** |  |  |
|  California Water Service Group | 110834 | 5086 |
|  Chesapeake Utilities Corp. | 39770 | 5357 |
|  Hawaiian Electric Industries, Inc. \* | 227143 | 2508 |
|  IDACORP, Inc. | 34118 | 4509 |
|  MDU Resources Group, Inc. | 135085 | 2406 |
|  OGE Energy Corp. | 79027 | 3656 |
|  Oklo, Inc. \* | 22342 | 2494 |
|  ONE Gas, Inc. | 65885 | 5333 |
|  Southwest Gas Holdings, Inc. | 43122 | 3378 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total** |  | **34727** |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Common Stocks<br>(Cost: $457,881)** | &nbsp;&nbsp;&nbsp;&nbsp; **Total Common Stocks<br>(Cost: $457,881)** | **573655** |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investments (99.2%)<br>(Cost: $457,881)<sup>@</sup>** | &nbsp;&nbsp;&nbsp;&nbsp; **Total Investments (99.2%)<br>(Cost: $457,881)<sup>@</sup>** | **573655** |
| &nbsp;&nbsp;&nbsp;&nbsp; **Other Assets, Less<br>Liabilities (0.8%)** | &nbsp;&nbsp;&nbsp;&nbsp; **Other Assets, Less<br>Liabilities (0.8%)** | **4409** |
| &nbsp;&nbsp;&nbsp;&nbsp; **Net Assets (100.0%)** | &nbsp;&nbsp;&nbsp;&nbsp; **Net Assets (100.0%)** | **578064** |

---

**2** 

------

Small Cap Value Portfolio

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

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

\* Non income producing

---

| | |
|:---|:---|
| @ | At September 30, 2025, the aggregate cost of investments, including derivatives, for federal tax purposes (in thousands) was $457,881 and the net unrealized appreciation of investments based on that cost was $115,774 which is comprised of $141,736 aggregate gross unrealized appreciation and $25,962 aggregate gross unrealized depreciation. Because tax adjustments are calculated annually, these amounts do not reflect tax adjustments. For the previous fiscal year's federal income tax information, please refer to the Notes to the Financial Statements section in the Portfolio's most recent annual report.  |

---

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.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Valuation Inputs | Valuation Inputs | Valuation Inputs |  |
| **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; Common Stocks | $573655 | $— | $— |  |
| &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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;573655 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  |

---

**3** 

------

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:** Small Cap Value Portfolio

- **b. EDGAR series identifier (if any):** S000000049

- **c. LEI of Series:** 5493006BEZYY47A02J59

**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:** $578702890.75

**Total Liabilities:** $478963.31

**Net Assets:** $578223927.44

**Cash Not Reported:** $5299757.70

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000000084 | -0.41%               | 6.92%                | 0.99%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $9865246.50              | $-12012479.44                              |
| Month 2  | $6041872.73              | $30564599.90                               |
| Month 3  | $3400345.94              | $1997740.09                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| UL Solutions Inc                          | UL Solutions Inc                          | CUSIP: 903731107<br>LEI: 549300F7CUV5ESKV9P71 | Long             | EC               | CORP              | US        |     52441 | NS      | $3715969.26   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| PennyMac Financial Services Inc           | PennyMac Financial Services Inc           | CUSIP: 70932M107<br>LEI: 549300W1D516HBDEU871 | Long             | EC               | CORP              | US        |     71052 | NS      | $8801921.76   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Southern First Bancshares Inc             | Southern First Bancshares Inc             | CUSIP: 842873101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     32696 | NS      | $1442547.52   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Independence Realty Trust Inc             | Independence Realty Trust Inc             | CUSIP: 45378A106<br>LEI: 549300Z3L8NU44NQEB29 | Long             | EC               |  | US        |    314079 | NS      | $5147754.81   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| OR Royalties Inc                          | OR Royalties Inc                          | CUSIP: 68390D106<br>LEI: 549300TJZTXZMPQ6K004 | Long             | EC               | CORP              | CA        |     53423 | NS      | $2141193.84   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Victoria's Secret & Co                    | Victoria's Secret & Co                    | CUSIP: 926400102<br>LEI: 5493006T3O70U3UWVF17 | Long             | EC               | CORP              | US        |     87671 | NS      | $2379390.94   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| 10X Genomics Inc                          | 10X Genomics Inc                          | CUSIP: 88025U109<br>LEI: 5493003Z6741WNLG7H43 | Long             | EC               | CORP              | US        |     61375 | NS      | $717473.75    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Viavi Solutions Inc                       | Viavi Solutions Inc                       | CUSIP: 925550105<br>LEI: 5493006K3E3N1QOBF092 | Long             | EC               | CORP              | US        |    376838 | NS      | $4782074.22   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| TTM Technologies Inc                      | TTM Technologies Inc                      | CUSIP: 87305R109<br>LEI: 549300SC4BDOIS008048 | Long             | EC               | CORP              | US        |     31526 | NS      | $1815897.60   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Hawaiian Electric Industries Inc          | Hawaiian Electric Industries Inc          | CUSIP: 419870100<br>LEI: JJ8FWOCWCV22X7GUPJ23 | Long             | EC               | CORP              | US        |    227143 | NS      | $2507658.72   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Champion Homes Inc                        | Champion Homes Inc                        | CUSIP: 830830105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     31648 | NS      | $2416957.76   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| HB Fuller Co                              | HB Fuller Co                              | CUSIP: 359694106<br>LEI: JSMX3Z5FOYM8V0Q52357 | Long             | EC               | CORP              | US        |     29587 | NS      | $1753917.36   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Hut 8 Corp                                | Hut 8 Corp                                | CUSIP: 44812J104<br>LEI: 98450066FEF9C1D3FC20 | Long             | EC               | CORP              | US        |     78112 | NS      | $2719078.72   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Cabot Corp                                | Cabot Corp                                | CUSIP: 127055101<br>LEI: K05C0SER542GQ6VLRO68 | Long             | EC               | CORP              | US        |     25227 | NS      | $1918513.35   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Meritage Homes Corp                       | Meritage Homes Corp                       | CUSIP: 59001A102<br>LEI: 52990044W9UMFJO2FB97 | Long             | EC               | CORP              | US        |     29109 | NS      | $2108364.87   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Mirion Technologies Inc                   | Mirion Technologies Inc                   | CUSIP: 60471A101<br>LEI: 549300BNTOWVWFNVTJ65 | Long             | EC               | CORP              | US        |    251999 | NS      | $5861496.74   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| EXPRO GROUP HOLDINGS NV                   | Expro Group Holdings NV                   | CUSIP: 000000000<br>LEI: 724500LJYA8QIT73H017 | Long             | EC               | CORP              | NL        |    206273 | NS      | $2450523.24   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Live Oak Bancshares Inc                   | Live Oak Bancshares Inc                   | CUSIP: 53803X105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    139040 | NS      | $4896988.80   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Eastern Bankshares Inc                    | Eastern Bankshares Inc                    | CUSIP: 27627N105<br>LEI: 549300J245MBQU3DO403 | Long             | EC               | CORP              | US        |    301156 | NS      | $5465981.40   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Kontoor Brands Inc                        | Kontoor Brands Inc                        | CUSIP: 50050N103<br>LEI: 549300M0CPXV65RFF271 | Long             | EC               | CORP              | US        |     28937 | NS      | $2308304.49   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Highwoods Properties Inc                  | Highwoods Properties Inc                  | CUSIP: 431284108<br>LEI: ZIIGTYKL9T0X3HLTDX53 | Long             | EC               |  | US        |    120491 | NS      | $3834023.62   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Workiva Inc                               | Workiva Inc                               | CUSIP: 98139A105<br>LEI: 529900RTOQ8GRWHY1O58 | Long             | EC               | CORP              | US        |     26471 | NS      | $2278623.68   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| VSE Corp                                  | VSE Corp                                  | CUSIP: 918284100<br>LEI: 549300QWJYQDH4U5XI15 | Long             | EC               | CORP              | US        |     18670 | NS      | $3103700.80   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| RBC Bearings Inc                          | RBC Bearings Inc                          | CUSIP: 75524B104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11444 | NS      | $4466478.76   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| BrightSpring Health Services Inc          | BrightSpring Health Services Inc          | CUSIP: 10950A106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    108418 | NS      | $3204836.08   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Scorpio Tankers Inc                       | Scorpio Tankers Inc                       | CUSIP: 000000000<br>LEI: 549300NVJUH16NXG8K87 | Long             | EC               | CORP              | MH        |     54542 | NS      | $3057079.10   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Enpro Inc                                 | Enpro Inc                                 | CUSIP: 29355X107<br>LEI: 549300Y5CFT2LKCFDN54 | Long             | EC               | CORP              | US        |     10898 | NS      | $2462948.00   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Southwest Gas Holdings Inc                | Southwest Gas Holdings Inc                | CUSIP: 844895102<br>LEI: 254900LKF9EV0CUKNE09 | Long             | EC               | CORP              | US        |     43122 | NS      | $3378177.48   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Semtech Corp                              | Semtech Corp                              | CUSIP: 816850101<br>LEI: 549300J7WUY317SW6O61 | Long             | EC               | CORP              | US        |     17534 | NS      | $1252804.30   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Walker & Dunlop Inc                       | Walker & Dunlop Inc                       | CUSIP: 93148P102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     43568 | NS      | $3643156.16   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Flagstar Financial Inc                    | Flagstar Financial Inc                    | CUSIP: 649445400<br>LEI: 529900HVXOTLY61GL030 | Long             | EC               | CORP              | US        |    429626 | NS      | $4962180.30   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryan Specialty Holdings Inc               | Ryan Specialty Holdings Inc               | CUSIP: 78351F107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     62901 | NS      | $3545100.36   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Permian Resources Corp                    | Permian Resources Corp                    | CUSIP: 71424F105<br>LEI: 529900NXUJPOKU7OJ511 | Long             | EC               | CORP              | US        |    290387 | NS      | $3716953.60   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| SiteOne Landscape Supply Inc              | SiteOne Landscape Supply Inc              | CUSIP: 82982L103<br>LEI: 5299008LX7SBD4HIAU03 | Long             | EC               | CORP              | US        |     18926 | NS      | $2437668.80   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| MACOM Technology Solutions Holdings Inc   | MACOM Technology Solutions Holdings Inc   | CUSIP: 55405Y100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     29069 | NS      | $3618799.81   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Miami International Holdings Inc          | Miami International Holdings Inc          | CUSIP: 59356Q108<br>LEI: 254900TREUDBWGLAP788 | Long             | EC               | CORP              | US        |     10721 | NS      | $431627.46    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Primerica Inc                             | Primerica Inc                             | CUSIP: 74164M108<br>LEI: 254900621R686KJR7022 | Long             | EC               | CORP              | US        |      7837 | NS      | $2175472.83   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| JFrog Ltd                                 | JFrog Ltd                                 | CUSIP: 000000000<br>LEI: 2549002N8E00AY49G567 | Long             | EC               | CORP              | IL        |     51656 | NS      | $2444878.48   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Columbia Banking System Inc               | Columbia Banking System Inc               | CUSIP: 197236102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    367636 | NS      | $9462950.64   | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| WSFS Financial Corp                       | WSFS Financial Corp                       | CUSIP: 929328102<br>LEI: 549300SU7VQHD6QRG886 | Long             | EC               | CORP              | US        |     56270 | NS      | $3034641.10   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Marqeta Inc                               | Marqeta Inc                               | CUSIP: 57142B104<br>LEI: 254900UZARK0FMZGZE18 | Long             | EC               | CORP              | US        |    472354 | NS      | $2494029.12   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Alignment Healthcare Inc                  | Alignment Healthcare Inc                  | CUSIP: 01625V104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    163881 | NS      | $2859723.45   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Firefly Aerospace Inc                     | Firefly Aerospace Inc                     | CUSIP: 31816X106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7889 | NS      | $231305.48    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| CubeSmart                                 | CubeSmart                                 | CUSIP: 229663109<br>LEI: N/A                  | Long             | EC               |  | US        |     78796 | NS      | $3203845.36   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Air Lease Corp                            | Air Lease Corp                            | CUSIP: 00912X302<br>LEI: 5493004NW4M4P8TMMK63 | Long             | EC               | CORP              | US        |     25515 | NS      | $1624029.75   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Carvana Co                                | Carvana Co                                | CUSIP: 146869102<br>LEI: 5493003WEAK2PJ5WS063 | Long             | EC               | CORP              | US        |      7840 | NS      | $2957561.60   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Madison Square Garden Sports Corp         | Madison Square Garden Sports Corp         | CUSIP: 55825T103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11590 | NS      | $2630930.00   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Intapp Inc                                | Intapp Inc                                | CUSIP: 45827U109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     26893 | NS      | $1099923.70   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| WillScot Holdings Corp                    | WillScot Holdings Corp                    | CUSIP: 971378104<br>LEI: 549300HJ4VIXF476Q166 | Long             | EC               | CORP              | US        |     59243 | NS      | $1250619.73   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Leonardo DRS Inc                          | Leonardo DRS Inc                          | CUSIP: 52661A108<br>LEI: 549300HMMEWVG3PPQU18 | Long             | EC               | CORP              | US        |     36985 | NS      | $1679119.00   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Dutch Bros Inc                            | Dutch Bros Inc                            | CUSIP: 26701L100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     37905 | NS      | $1983947.70   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Synovus Financial Corp                    | Synovus Financial Corp                    | CUSIP: 87161C501<br>LEI: 549300EIUS8UN5JTLE54 | Long             | EC               | CORP              | US        |     59940 | NS      | $2941855.20   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| nCino Inc                                 | nCino Inc                                 | CUSIP: 63947X101<br>LEI: 549300WVRR2WR3L6MZ46 | Long             | EC               | CORP              | US        |    107338 | NS      | $2909933.18   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Range Resources Corp                      | Range Resources Corp                      | CUSIP: 75281A109<br>LEI: H3Y3WLYCX0BTO1TRW162 | Long             | EC               | CORP              | US        |    128345 | NS      | $4830905.80   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Ascendis Pharma A/S                       | Ascendis Pharma A/S                       | CUSIP: 04351P101<br>LEI: 549300B66JN3W3J8GH73 | Long             | EC               | CORP              | DK        |      8859 | NS      | $1761257.79   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Papa John's International Inc             | Papa John's International Inc             | CUSIP: 698813102<br>LEI: HZYLD3DK5XOX0WBVNB56 | Long             | EC               | CORP              | US        |     52797 | NS      | $2542175.55   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Boot Barn Holdings Inc                    | Boot Barn Holdings Inc                    | CUSIP: 099406100<br>LEI: 529900QE1BFMYA3N4E71 | Long             | EC               | CORP              | US        |     11018 | NS      | $1825902.96   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Apellis Pharmaceuticals Inc               | Apellis Pharmaceuticals Inc               | CUSIP: 03753U106<br>LEI: 254900HS0ZFRXXSB9D42 | Long             | EC               | CORP              | US        |     21511 | NS      | $486793.93    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Dorman Products Inc                       | Dorman Products Inc                       | CUSIP: 258278100<br>LEI: 2549000O0BBUX740XR59 | Long             | EC               | CORP              | US        |     18459 | NS      | $2877388.92   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Terreno Realty Corp                       | Terreno Realty Corp                       | CUSIP: 88146M101<br>LEI: N/A                  | Long             | EC               |  | US        |     70582 | NS      | $4005528.50   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Banc of California Inc                    | Banc of California Inc                    | CUSIP: 05990K106<br>LEI: 549300ZKWUJDP6LJ1X87 | Long             | EC               | CORP              | US        |    298115 | NS      | $4933803.25   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Digital Corp                      | Applied Digital Corp                      | CUSIP: 038169207<br>LEI: 2549004NE2B6RYXINZ02 | Long             | EC               | CORP              | US        |     54284 | NS      | $1245274.96   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Oklo Inc                                  | Oklo Inc                                  | CUSIP: 02156V109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     22342 | NS      | $2494037.46   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Safehold Inc                              | Safehold Inc                              | CUSIP: 78646V107<br>LEI: QFFLKWYYS3UPWD86E794 | Long             | EC               |  | US        |    145336 | NS      | $2251254.64   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Sunrun Inc                                | Sunrun Inc                                | CUSIP: 86771W105<br>LEI: 54930007SJ77CI66U531 | Long             | EC               | CORP              | US        |     98181 | NS      | $1697549.49   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Western Alliance Bancorp                  | Western Alliance Bancorp                  | CUSIP: 957638109<br>LEI: 5493003VJXZ5JXT9S762 | Long             | EC               | CORP              | US        |     79606 | NS      | $6903432.32   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| I3 Verticals Inc                          | I3 Verticals Inc                          | CUSIP: 46571Y107<br>LEI: 549300944CYWVP06CJ97 | Long             | EC               | CORP              | US        |     55445 | NS      | $1799744.70   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Arcosa Inc                                | Arcosa Inc                                | CUSIP: 039653100<br>LEI: 549300WFHLTCZV7D6V29 | Long             | EC               | CORP              | US        |     40552 | NS      | $3800127.92   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Houlihan Lokey Inc                        | Houlihan Lokey Inc                        | CUSIP: 441593100<br>LEI: 549300S3CNGTQ1QZVY46 | Long             | EC               | CORP              | US        |     35993 | NS      | $7390082.76   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Bullish                                   | Bullish                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |      6303 | NS      | $400933.83    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Cactus Inc                                | Cactus Inc                                | CUSIP: 127203107<br>LEI: 549300J3T8C9F8QFKV08 | Long             | EC               | CORP              | US        |     58905 | NS      | $2324980.35   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Wingstop Inc                              | Wingstop Inc                              | CUSIP: 974155103<br>LEI: 549300SSH3F8HPIM3Q47 | Long             | EC               | CORP              | US        |      3710 | NS      | $933732.80    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryman Hospitality Properties Inc          | Ryman Hospitality Properties Inc          | CUSIP: 78377T107<br>LEI: 529900GCCWW9SRMPJR11 | Long             | EC               |  | US        |     27569 | NS      | $2469906.71   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Coursera Inc                              | Coursera Inc                              | CUSIP: 22266M104<br>LEI: 984500573CA1QB7DAC30 | Long             | EC               | CORP              | US        |    102023 | NS      | $1194689.33   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Avanos Medical Inc                        | Avanos Medical Inc                        | CUSIP: 05350V106<br>LEI: 549300YCXWOM7NEWMQ58 | Long             | EC               | CORP              | US        |    178071 | NS      | $2058500.76   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Saia Inc                                  | Saia Inc                                  | CUSIP: 78709Y105<br>LEI: 549300WNPG4N9GBOYB29 | Long             | EC               | CORP              | US        |      5677 | NS      | $1699466.72   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| BankUnited Inc                            | BankUnited Inc                            | CUSIP: 06652K103<br>LEI: 96OVUWEW5D4YX6PFXD91 | Long             | EC               | CORP              | US        |     85546 | NS      | $3264435.36   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellium SE                            | Constellium SE                            | CUSIP: 000000000<br>LEI: 724500KRJEMC79KAAU28 | Long             | EC               | CORP              | FR        |    179579 | NS      | $2672135.52   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| CRISPR Therapeutics AG                    | CRISPR Therapeutics AG                    | CUSIP: 000000000<br>LEI: 506700O6IRRIQLT3W370 | Long             | EC               | CORP              | CH        |     33247 | NS      | $2154738.07   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Zurn Elkay Water Solutions Corp           | Zurn Elkay Water Solutions Corp           | CUSIP: 98983L108<br>LEI: 549300AM3633XDFU1Q85 | Long             | EC               | CORP              | US        |     67477 | NS      | $3173443.31   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| SOUTHSTATE BANK CORP                      | SOUTHSTATE BANK CORP                      | CUSIP: 84472E102<br>LEI: 549300JZUANXM0YQ4W53 | Long             | EC               | CORP              | US        |     61539 | NS      | $6084360.93   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Doximity Inc                              | Doximity Inc                              | CUSIP: 26622P107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     37589 | NS      | $2749635.35   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Marriott Vacations Worldwide Corp         | Marriott Vacations Worldwide Corp         | CUSIP: 57164Y107<br>LEI: 549300WA6BT5H4F7IO94 | Long             | EC               | CORP              | US        |     34586 | NS      | $2302044.16   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Sanmina Corp                              | Sanmina Corp                              | CUSIP: 801056102<br>LEI: X5K24XLM8QYRXF00EB42 | Long             | EC               | CORP              | US        |      9330 | NS      | $1073976.30   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Grocery Outlet Holding Corp               | Grocery Outlet Holding Corp               | CUSIP: 39874R101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    150564 | NS      | $2416552.20   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| PennyMac Mortgage Investment Trust        | PennyMac Mortgage Investment Trust        | CUSIP: 70931T103<br>LEI: 549300BSSOQO1ZWDUJ97 | Long             | EC               |  | US        |    201455 | NS      | $2469838.30   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| FB Financial Corp                         | FB Financial Corp                         | CUSIP: 30257X104<br>LEI: 5493000B2LD2C2A6C435 | Long             | EC               | CORP              | US        |    118645 | NS      | $6613272.30   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| PBF Energy Inc                            | PBF Energy Inc                            | CUSIP: 69318G106<br>LEI: 2549003PBEDCSZMZIY02 | Long             | EC               | CORP              | US        |    120126 | NS      | $3624201.42   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Post Holdings Inc                         | Post Holdings Inc                         | CUSIP: 737446104<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | EC               | CORP              | US        |     35691 | NS      | $3836068.68   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Perrigo Co PLC                            | Perrigo Co PLC                            | CUSIP: 000000000<br>LEI: 549300IFOQS6R1QLY196 | Long             | EC               | CORP              | IE        |     61948 | NS      | $1379581.96   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| RLI Corp                                  | RLI Corp                                  | CUSIP: 749607107<br>LEI: 529900AMTJE5ECN9PS55 | Long             | EC               | CORP              | US        |     28073 | NS      | $1830921.06   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| ESCO Technologies Inc                     | ESCO Technologies Inc                     | CUSIP: 296315104<br>LEI: 5493007JJLP5MEWVDH10 | Long             | EC               | CORP              | US        |     12016 | NS      | $2536697.76   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Sezzle Inc                                | Sezzle Inc                                | CUSIP: 78435P105<br>LEI: 9845000CA64541AE3I35 | Long             | EC               | CORP              | US        |     17673 | NS      | $1405533.69   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Immatics NV                               | Immatics NV                               | CUSIP: 000000000<br>LEI: 984500DC691EZ96AF394 | Long             | EC               | CORP              | NL        |    280177 | NS      | $2387108.04   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Pebblebrook Hotel Trust                   | Pebblebrook Hotel Trust                   | CUSIP: 70509V100<br>LEI: 5493004Q1NNH6JXCSI52 | Long             | EC               |  | US        |    269130 | NS      | $3065390.70   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Turning Point Brands Inc                  | Turning Point Brands Inc                  | CUSIP: 90041L105<br>LEI: 549300IYG00QF0VVP302 | Long             | EC               | CORP              | US        |     14714 | NS      | $1454626.04   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| OGE Energy Corp                           | OGE Energy Corp                           | CUSIP: 670837103<br>LEI: CE5OG6JPOZMDSA0LAQ19 | Long             | EC               | CORP              | US        |     79027 | NS      | $3656579.29   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| West Fraser Timber Co Ltd                 | West Fraser Timber Co Ltd                 | CUSIP: 952845105<br>LEI: 5493005WD1ZK6WBVR988 | Long             | EC               | CORP              | CA        |     16245 | NS      | $1104335.10   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| MSA Safety Inc                            | MSA Safety Inc                            | CUSIP: 553498106<br>LEI: 529900DVA3258XK11O39 | Long             | EC               | CORP              | US        |     11553 | NS      | $1987924.71   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Home BancShares Inc/AR                    | Home BancShares Inc/AR                    | CUSIP: 436893200<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    186604 | NS      | $5280893.20   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Matson Inc                                | Matson Inc                                | CUSIP: 57686G105<br>LEI: 549300OI5H3Y0I9I4I12 | Long             | EC               | CORP              | US        |     21118 | NS      | $2082023.62   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Popular Inc                               | Popular Inc                               | CUSIP: 733174700<br>LEI: 5493008CARDZMVQ3LO89 | Long             | EC               | CORP              | PR        |     37339 | NS      | $4742426.39   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Hudson Pacific Properties Inc             | Hudson Pacific Properties Inc             | CUSIP: 444097109<br>LEI: N/A                  | Long             | EC               |  | US        |    393227 | NS      | $1085306.52   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Towne Bank/Portsmouth VA                  | Towne Bank/Portsmouth VA                  | CUSIP: 89214P109<br>LEI: 54930039UO39UJGI7078 | Long             | EC               | CORP              | US        |    142316 | NS      | $4919864.12   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Entegris Inc                              | Entegris Inc                              | CUSIP: 29362U104<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | EC               | CORP              | US        |     21243 | NS      | $1964127.78   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Baldwin Insurance Group Inc/The           | Baldwin Insurance Group Inc/The           | CUSIP: 05589G102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     49877 | NS      | $1407030.17   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Immunocore Holdings PLC                   | Immunocore Holdings PLC                   | CUSIP: 45258D105<br>LEI: 213800IUE3DFS84BVN18 | Long             | EC               | CORP              | GB        |     70211 | NS      | $2550765.63   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Noble Corp PLC                            | Noble Corp PLC                            | CUSIP: 000000000<br>LEI: 549300I3HBUNXO0OG954 | Long             | EC               | CORP              | GB        |     84954 | NS      | $2402499.12   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Rush Enterprises Inc                      | Rush Enterprises Inc                      | CUSIP: 781846209<br>LEI: 529900V3XHTN7A6DFT17 | Long             | EC               | CORP              | US        |     58809 | NS      | $3144517.23   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Curbline Properties Corp                  | Curbline Properties Corp                  | CUSIP: 23128Q101<br>LEI: 529900PGR41LH0I81I15 | Long             | EC               |  | US        |    258825 | NS      | $5771797.50   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Ensign Group Inc/The                      | Ensign Group Inc/The                      | CUSIP: 29358P101<br>LEI: 5493003K4HEEA8Q0BC72 | Long             | EC               | CORP              | US        |     22239 | NS      | $3842232.03   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Pinnacle Financial Partners Inc           | Pinnacle Financial Partners Inc           | CUSIP: 72346Q104<br>LEI: 54930098EZ8JMSAZGS24 | Long             | EC               | CORP              | US        |    106108 | NS      | $9951869.32   | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Vaxcyte Inc                               | Vaxcyte Inc                               | CUSIP: 92243G108<br>LEI: 254900M7NMHTGASX8D95 | Long             | EC               | CORP              | US        |     50690 | NS      | $1825853.80   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Macerich Co/The                           | Macerich Co/The                           | CUSIP: 554382101<br>LEI: 529900PSWCB5KI0JYU46 | Long             | EC               |  | US        |    184982 | NS      | $3366672.40   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Crane Co                                  | Crane Co                                  | CUSIP: 224408104<br>LEI: 5493000CQRQOTHUODL75 | Long             | EC               | CORP              | US        |     14480 | NS      | $2666347.20   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Littelfuse Inc                            | Littelfuse Inc                            | CUSIP: 537008104<br>LEI: 549300MY7HLQFYTPCX75 | Long             | EC               | CORP              | US        |     14611 | NS      | $3784395.11   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Hillenbrand Inc                           | Hillenbrand Inc                           | CUSIP: 431571108<br>LEI: U246OE781574J2BUD366 | Long             | EC               | CORP              | US        |     21956 | NS      | $593690.24    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| TechnipFMC PLC                            | TechnipFMC PLC                            | CUSIP: 000000000<br>LEI: 549300D5I93QWCJTCK36 | Long             | EC               | CORP              | GB        |    127028 | NS      | $5011254.60   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Preferred Bank/Los Angeles CA             | Preferred Bank/Los Angeles CA             | CUSIP: 740367404<br>LEI: 5493007K6HGI9G0ECX16 | Long             | EC               | CORP              | US        |     39331 | NS      | $3555129.09   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Avidia Bancorp Inc                        | Avidia Bancorp Inc                        | CUSIP: 05369T100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    137265 | NS      | $2050739.10   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Goosehead Insurance Inc                   | Goosehead Insurance Inc                   | CUSIP: 38267D109<br>LEI: 549300WH5MBIWHJ9XY95 | Long             | EC               | CORP              | US        |     21343 | NS      | $1588346.06   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Enerflex Ltd                              | Enerflex Ltd                              | CUSIP: 29269R105<br>LEI: 54930014N7872VUS3F89 | Long             | EC               | CORP              | CA        |    299139 | NS      | $3224718.42   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Cathay General Bancorp                    | Cathay General Bancorp                    | CUSIP: 149150104<br>LEI: 549300K1SLJ8C97H5L68 | Long             | EC               | CORP              | US        |     69115 | NS      | $3318211.15   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Arcellx Inc                               | Arcellx Inc                               | CUSIP: 03940C100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     24645 | NS      | $2023354.50   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Taylor Morrison Home Corp                 | Taylor Morrison Home Corp                 | CUSIP: 87724P106<br>LEI: 5299009UDLLGLKOOJE30 | Long             | EC               | CORP              | US        |     90095 | NS      | $5947170.95   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| ONE Gas Inc                               | ONE Gas Inc                               | CUSIP: 68235P108<br>LEI: 549300HXDWI0LATTX840 | Long             | EC               | CORP              | US        |     65885 | NS      | $5332731.90   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Sarepta Therapeutics Inc                  | Sarepta Therapeutics Inc                  | CUSIP: 803607100<br>LEI: 549300IKDPIED8J8IG21 | Long             | EC               | CORP              | US        |     78949 | NS      | $1521347.23   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| UFP Industries Inc                        | UFP Industries Inc                        | CUSIP: 90278Q108<br>LEI: 5493007KB485C9OV5572 | Long             | EC               | CORP              | US        |     31087 | NS      | $2906323.63   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| National Bank Holdings Corp               | National Bank Holdings Corp               | CUSIP: 633707104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     56348 | NS      | $2177286.72   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Esab Corp                                 | Esab Corp                                 | CUSIP: 29605J106<br>LEI: 549300ZNV0SWBXEIWT04 | Long             | EC               | CORP              | US        |     19586 | NS      | $2188539.64   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Landstar System Inc                       | Landstar System Inc                       | CUSIP: 515098101<br>LEI: 254900CUQXQRL09MEI52 | Long             | EC               | CORP              | US        |     12169 | NS      | $1491432.64   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| California Water Service Group            | California Water Service Group            | CUSIP: 130788102<br>LEI: 529900QABDOBU6UVRQ36 | Long             | EC               | CORP              | US        |    110834 | NS      | $5086172.26   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Kilroy Realty Corp                        | Kilroy Realty Corp                        | CUSIP: 49427F108<br>LEI: 549300CXXI18B214UN80 | Long             | EC               |  | US        |    109065 | NS      | $4607996.25   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Black Rock Coffee Bar Inc                 | Black Rock Coffee Bar Inc                 | CUSIP: 092244102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     21329 | NS      | $508909.94    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Advance Auto Parts Inc                    | Advance Auto Parts Inc                    | CUSIP: 00751Y106<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | EC               | CORP              | US        |     25679 | NS      | $1576690.60   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Magnolia Oil & Gas Corp                   | Magnolia Oil & Gas Corp                   | CUSIP: 559663109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    140007 | NS      | $3341967.09   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Savers Value Village Inc                  | Savers Value Village Inc                  | CUSIP: 80517M109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    192770 | NS      | $2554202.50   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Pitney Bowes Inc                          | Pitney Bowes Inc                          | CUSIP: 724479100<br>LEI: 549300N2O26NW4ST6W55 | Long             | EC               | CORP              | US        |     65837 | NS      | $751200.17    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Alamo Group Inc                           | Alamo Group Inc                           | CUSIP: 011311107<br>LEI: 54930080C93RVZRSDV26 | Long             | EC               | CORP              | US        |      7597 | NS      | $1450267.30   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| NETSTREIT Corp                            | NETSTREIT Corp                            | CUSIP: 64119V303<br>LEI: 254900CJL0EDMEQ25Q84 | Long             | EC               |  | US        |    165803 | NS      | $2994402.18   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Allegiant Travel Co                       | Allegiant Travel Co                       | CUSIP: 01748X102<br>LEI: 549300JM9OZXOHWL2K18 | Long             | EC               | CORP              | US        |     51922 | NS      | $3155299.94   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| PRA Group Inc                             | PRA Group Inc                             | CUSIP: 69354N106<br>LEI: 549300Q5HW3JSSB86K27 | Long             | EC               | CORP              | US        |    154684 | NS      | $2388320.96   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| MDU Resources Group Inc                   | MDU Resources Group Inc                   | CUSIP: 552690109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    135085 | NS      | $2405863.85   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Abercrombie & Fitch Co                    | Abercrombie & Fitch Co                    | CUSIP: 002896207<br>LEI: 5493000J7LL72TOGT983 | Long             | EC               | CORP              | US        |     24829 | NS      | $2124120.95   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Figs Inc                                  | Figs Inc                                  | CUSIP: 30260D103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    309649 | NS      | $2071551.81   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Capital Bancshares Inc              | Texas Capital Bancshares Inc              | CUSIP: 88224Q107<br>LEI: 549300466Q2SXRX0YM48 | Long             | EC               | CORP              | US        |     67850 | NS      | $5735360.50   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Casella Waste Systems Inc                 | Casella Waste Systems Inc                 | CUSIP: 147448104<br>LEI: 8EU0XUFVJ48U37IIDH51 | Long             | EC               | CORP              | US        |     31383 | NS      | $2977619.04   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Coastal Financial Corp/WA                 | Coastal Financial Corp/WA                 | CUSIP: 19046P209<br>LEI: 549300XG5L36T6IU0B47 | Long             | EC               | CORP              | US        |     48276 | NS      | $5222014.92   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| IDACORP Inc                               | IDACORP Inc                               | CUSIP: 451107106<br>LEI: N134NUJDWN8UEFA8B673 | Long             | EC               | CORP              | US        |     34118 | NS      | $4508693.70   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Quaker Chemical Corp                      | Quaker Chemical Corp                      | CUSIP: 747316107<br>LEI: 549300PJQ1R3WCWCPS54 | Long             | EC               | CORP              | US        |     14149 | NS      | $1864130.75   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXTracker Inc                            | NEXTracker Inc                            | CUSIP: 65290E101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     61135 | NS      | $4523378.65   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| HA Sustainable Infrastructure Capital Inc | HA Sustainable Infrastructure Capital Inc | CUSIP: 41068X100<br>LEI: 254900ZZRL7MWL1X8E92 | Long             | EC               | CORP              | US        |    182093 | NS      | $5590255.10   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Crinetics Pharmaceuticals Inc             | Crinetics Pharmaceuticals Inc             | CUSIP: 22663K107<br>LEI: 549300Q1CNFXK5P31D28 | Long             | EC               | CORP              | US        |     27100 | NS      | $1128715.00   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Chesapeake Utilities Corp                 | Chesapeake Utilities Corp                 | CUSIP: 165303108<br>LEI: 254900WW0FDCKAOCKE74 | Long             | EC               | CORP              | US        |     39770 | NS      | $5356621.30   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Peloton Interactive Inc                   | Peloton Interactive Inc                   | CUSIP: 70614W100<br>LEI: 5493002YS021166W0339 | Long             | EC               | CORP              | US        |    435179 | NS      | $3916611.00   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Matador Resources Co                      | Matador Resources Co                      | CUSIP: 576485205<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | EC               | CORP              | US        |    112466 | NS      | $5053097.38   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Commercial Metals Co                      | Commercial Metals Co                      | CUSIP: 201723103<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | EC               | CORP              | US        |     18744 | NS      | $1073656.32   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Warrior Met Coal Inc                      | Warrior Met Coal Inc                      | CUSIP: 93627C101<br>LEI: 549300152B1S9YKBYV79 | Long             | EC               | CORP              | US        |     48007 | NS      | $3055165.48   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| EastGroup Properties Inc                  | EastGroup Properties Inc                  | CUSIP: 277276101<br>LEI: 31TIGQQZC4P6JMHKSW85 | Long             | EC               |  | US        |     15106 | NS      | $2556841.56   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Cytokinetics Inc                          | Cytokinetics Inc                          | CUSIP: 23282W605<br>LEI: 549300BE5DY1HW7IHA64 | Long             | EC               | CORP              | US        |    121600 | NS      | $6683136.00   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Concentra Group Holdings Parent Inc       | Concentra Group Holdings Parent Inc       | CUSIP: 20603L102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    163198 | NS      | $3415734.14   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Strategic Education Inc                   | Strategic Education Inc                   | CUSIP: 86272C103<br>LEI: 2549002UYIM8Q5EC8H36 | Long             | EC               | CORP              | US        |     65510 | NS      | $5634515.10   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| UniFirst Corp/MA                          | UniFirst Corp/MA                          | CUSIP: 904708104<br>LEI: 5493003XBTNWBC8UK019 | Long             | EC               | CORP              | US        |      7111 | NS      | $1188888.09   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Chewy Inc                                 | Chewy Inc                                 | CUSIP: 16679L109<br>LEI: 254900NPQSTG9I422879 | Long             | EC               | CORP              | US        |     56795 | NS      | $2297357.75   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| New York Times Co/The                     | New York Times Co/The                     | CUSIP: 650111107<br>LEI: 529900J1WEMMIW7BOH57 | Long             | EC               | CORP              | US        |     81153 | NS      | $4658182.20   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| JBT Marel Corp                            | JBT Marel Corp                            | CUSIP: 477839104<br>LEI: 5493007CT6ATBZ2L6826 | Long             | EC               | CORP              | US        |     18622 | NS      | $2615459.90   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Immunovant Inc                            | Immunovant Inc                            | CUSIP: 45258J102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     48710 | NS      | $785205.20    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Oscar Health Inc                          | Oscar Health Inc                          | CUSIP: 687793109<br>LEI: 254900AE8KDLFDOPKZ19 | Long             | EC               | CORP              | US        |    149209 | NS      | $2824526.37   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| IAMGOLD Corp                              | IAMGOLD Corp                              | CUSIP: 450913108<br>LEI: 254900E7II30XAB9LA72 | Long             | EC               | CORP              | CA        |    151996 | NS      | $1965308.28   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Visteon Corp                              | Visteon Corp                              | CUSIP: 92839U206<br>LEI: 549300MOVLYHRW4GGW78 | Long             | EC               | CORP              | US        |     39299 | NS      | $4710378.14   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Urban Outfitters Inc                      | Urban Outfitters Inc                      | CUSIP: 917047102<br>LEI: 549300N3DUFR5U6NRN38 | Long             | EC               | CORP              | US        |     37099 | NS      | $2649981.57   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| QuidelOrtho Corp                          | QuidelOrtho Corp                          | CUSIP: 219798105<br>LEI: 549300YU8CMO9HF53113 | Long             | EC               | CORP              | US        |     96912 | NS      | $2854058.40   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Accelerant Holdings                       | Accelerant Holdings                       | CUSIP: 000000000<br>LEI: 213800VS4CX9ZONTD965 | Long             | EC               | CORP              | KY        |     35984 | NS      | $535801.76    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Root Inc/OH                               | Root Inc/OH                               | CUSIP: 77664L207<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12819 | NS      | $1147428.69   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| FirstService Corp                         | FirstService Corp                         | CUSIP: 33767E202<br>LEI: 5493000XUDIV75BCF118 | Long             | EC               | CORP              | CA        |     15633 | NS      | $2977930.17   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Aebi Schmidt Holding AG                   | Aebi Schmidt Holding AG                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CH        |    144375 | NS      | $1800356.25   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Elanco Animal Health Inc                  | Elanco Animal Health Inc                  | CUSIP: 28414H103<br>LEI: 549300SHPNDCE059M934 | Long             | EC               | CORP              | US        |    218219 | NS      | $4394930.66   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Valmont Industries Inc                    | Valmont Industries Inc                    | CUSIP: 920253101<br>LEI: 5493009ZGZJJ8F77JN08 | Long             | EC               | CORP              | US        |      7837 | NS      | $3038640.01   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Mercury Systems Inc                       | Mercury Systems Inc                       | CUSIP: 589378108<br>LEI: 549300P3B84SGK7HH679 | Long             | EC               | CORP              | US        |     42215 | NS      | $3267441.00   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Sotera Health Co                          | Sotera Health Co                          | CUSIP: 83601L102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    180313 | NS      | $2836323.49   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Steven Madden Ltd                         | Steven Madden Ltd                         | CUSIP: 556269108<br>LEI: 549300Z9GZ7GYJWSGF43 | Long             | EC               | CORP              | US        |     89150 | NS      | $2984742.00   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| StepStone Group Inc                       | StepStone Group Inc                       | CUSIP: 85914M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     42886 | NS      | $2800884.66   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Lattice Semiconductor Corp                | Lattice Semiconductor Corp                | CUSIP: 518415104<br>LEI: 549300LRBBPZDQ2II567 | Long             | EC               | CORP              | US        |     46599 | NS      | $3416638.68   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| CareTrust REIT Inc                        | CareTrust REIT Inc                        | CUSIP: 14174T107<br>LEI: 5493001NVXE2B9GPLU96 | Long             | EC               |  | US        |    131338 | NS      | $4554801.84   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Media Corp-Liberty Live           | Liberty Media Corp-Liberty Live           | CUSIP: 531229722<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     46373 | NS      | $4496789.81   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Alarm.com Holdings Inc                    | Alarm.com Holdings Inc                    | CUSIP: 011642105<br>LEI: 549300HIH92U1EKIHZ32 | Long             | EC               | CORP              | US        |     22898 | NS      | $1215425.84   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Reliance Inc                              | Reliance Inc                              | CUSIP: 759509102<br>LEI: 549300E287ZOFT3C5Z56 | Long             | EC               | CORP              | US        |     15111 | NS      | $4243622.13   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| FTI Consulting Inc                        | FTI Consulting Inc                        | CUSIP: 302941109<br>LEI: 549300K17GM8EQD0FQ48 | Long             | EC               | CORP              | US        |     11397 | NS      | $1842325.05   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Element Solutions Inc                     | Element Solutions Inc                     | CUSIP: 28618M106<br>LEI: 549300FLGN6P5CU20J91 | Long             | EC               | CORP              | US        |    153856 | NS      | $3872555.52   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Reynolds Consumer Products Inc            | Reynolds Consumer Products Inc            | CUSIP: 76171L106<br>LEI: 894500ZQLNYY77S80A06 | Long             | EC               | CORP              | US        |     94113 | NS      | $2302945.11   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| PAR Technology Corp                       | PAR Technology Corp                       | CUSIP: 698884103<br>LEI: 549300HYPTHBJQINVG57 | Long             | EC               | CORP              | US        |     47533 | NS      | $1881356.14   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Black Diamond Therapeutics Inc            | Black Diamond Therapeutics Inc            | CUSIP: 09203E105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    201600 | NS      | $764064.00    | 0.13%             |  |  |  | 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