# EDGAR Filing Document

**Accession Number:** 0000742212
**File Stem:** 0001410368-25-029462
**Filing Date:** 2025-11
**Character Count:** 40453
**Document Hash:** 39ae36c7ce6ca7eac3c266bb96759218
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-029462.hdr.sgml**: 20251124

**ACCESSION NUMBER**: 0001410368-25-029462

**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:** 251511970

**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

### Emerging Markets Equity Portfolio (Series ID: S000018232)

| Class ID   | Class Name                        | Ticker Symbol   |
|:---|:---|:---|
| C000050280 | Emerging Markets Equity Portfolio |  |

## Nport-Ex

Emerging Markets Equity Portfolio

SCHEDULE OF INVESTMENTS

**September 30, 2025 (unaudited)** 

---

| | | | |
|:---|:---|:---|:---|
| Common Stocks (95.8%) | Country | Shares/ Par <sup>+</sup> | Value<br>$(000's) |
|  **Communication Services (11.4%)** | **Communication Services (11.4%)** |  |  |
|  Bharti Airtel, Ltd. | India | 834862 | 17687 |
|  Telkom Indonesia Persero Tbk PT | Indonesia | 93832500 | 17301 |
|  Tencent Holdings, Ltd. | China | 1319600 | 112424 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total** |  |  | **147412** |
|  **Consumer Discretionary (13.8%)** | **Consumer Discretionary (13.8%)** |  |  |
|  Alibaba Group Holding, Ltd. | China | 3212300 | 72006 |
|  ANTA Sports Products, Ltd. | China | 1400600 | 16838 |
|  Indian Hotels Co., Ltd. | India | 1813239 | 14717 |
|  Li Auto, Inc. - Class A \* | China | 490800 | 6248 |
|  Mahindra & Mahindra, Ltd. | India | 484798 | 18717 |
|  MercadoLibre, Inc. \* | Brazil | 4046 | 9455 |
|  Midea Group Co., Ltd.<br> - Class H | China | 2029200 | 21422 |
|  Trip.com Group, Ltd. | China | 245900 | 18642 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total** |  |  | **178045** |
|  **Consumer Staples (3.0%)** |  |  |  |
|  Giant Biogene Holding Co., Ltd. | China | 1667000 | 12129 |
|  Kweichow Moutai Co., Ltd. - Class A | China | 53573 | 10869 |
|  Raia Drogasil SA | Brazil | 2142137 | 7414 |
|  Zabka Group SA \* | Poland | 1353152 | 8735 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total** |  |  | **39147** |
|  **Energy (0.7%)** |  |  |  |
|  NAC Kazatomprom JSC, GDR | Kazakhstan | 72116 | 3844 |
|  PRIO SA \* | Brazil | 661817 | 4741 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total** |  |  | **8585** |
|  **Financials (23.1%)** |  |  |  |
|  Abu Dhabi Islamic Bank PJSC | United Arab Emirates | 3520206 | 20883 |
|  AIA Group, Ltd. | Hong Kong | 1472600 | 14115 |
|  Al Rajhi Bank | Saudi Arabia | 880011 | 25124 |
|  Bank Negara Indonesia Persero Tbk PT | Indonesia | 72341000 | 17901 |
|  China Merchants Bank Co., Ltd. - Class H | China | 2916000 | 17543 |
|  Cholamandalam Investment and Finance Co., Ltd. | India | 692929 | 12575 |
|  Grupo Financiero Banorte SAB de CV | Mexico | 1327153 | 13369 |
|  HDFC Bank, Ltd. | India | 4038942 | 43273 |
|  ICICI Bank, Ltd. | India | 838699 | 12722 |
|  Itausa SA - Preference Shares | Brazil | 8699982 | 18749 |
|  Kaspi.KZ Joint Stock Co., ADR | Kazakhstan | 77564 | 6335 |
|  National Bank of Greece SA | Greece | 1040025 | 15148 |
|  Nu Holdings, Ltd. - Class A \* | Brazil | 1039092 | 16636 |
|  PICC Property & Casualty Co., Ltd. - Class H | China | 7367900 | 16662 |
|  Sanlam, Ltd. | South Africa | 2370818 | 11477 |

---

---

| | | | |
|:---|:---|:---|:---|
| Common Stocks (95.8%) | Country | Shares/ Par <sup>+</sup> | Value<br>$(000's) |
|  **Financials continued** |  |  |  |
|  Sberbank of Russia PJSC \* , Æ | Russia | 1471064 |  |
|  SBI Life Insurance Co., Ltd. | India | 861837 | 17391 |
|  Shinhan Financial Group Co., Ltd. | South Korea | 370300 | 18623 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total** |  |  | **298526** |
|  **Health Care (1.9%)** |  |  |  |
|  J.B. Chemicals & Pharmaceuticals, Ltd. | India | 286065 | 5527 |
|  Shenzhen Mindray Bio-Medical Electronics Co., Ltd. - Class A | China | 162215 | 5602 |
|  Torrent Pharmaceuticals, Ltd. | India | 340505 | 13822 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total** |  |  | **24951** |
|  **Industrials (9.3%)** |  |  |  |
|  Contemporary Amperex Technology Co., Ltd. - Class A | China | 569049 | 32181 |
|  Grupo Aeroportuario del Sureste SAB de CV - Class B | Mexico | 317438 | 10251 |
|  Havells India, Ltd. | India | 358864 | 6072 |
|  HD Hyundai Electric Co., Ltd. | South Korea | 25912 | 10808 |
|  HD Korea Shipbuilding & Offshore Engineering Co., Ltd. | South Korea | 45466 | 13375 |
|  InPost SA \* | Poland | 401310 | 4928 |
|  NARI Technology Co., Ltd. - Class A | China | 3495098 | 11270 |
|  Samsung C&T Corp. | South Korea | 85731 | 11344 |
|  Shenzhen Envicool Technology Co., Ltd. - Class A | China | 562096 | 6311 |
|  Techtronic Industries Co., Ltd. | Hong Kong | 1067500 | 13696 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total** |  |  | **120236** |
|  **Information Technology (24.0%)** | **Information Technology (24.0%)** |  |  |
|  Accton Technology Corp. | Taiwan | 388000 | 13433 |
|  ASE Technology Holding Co., Ltd. | Taiwan | 1589000 | 8620 |
|  Delta Electronics, Inc. | Taiwan | 849000 | 23799 |
|  MediaTek, Inc. | Taiwan | 464000 | 20113 |
|  NAURA Technology Group Co., Ltd. | China | 111000 | 7060 |
|  SK Hynix, Inc. | South Korea | 113281 | 28324 |
|  Taiwan Semiconductor Manufacturing Co., Ltd. | Taiwan | 4163290 | 181121 |
|  Tata Consultancy Services, Ltd. | India | 347195 | 11297 |
|  Xiaomi Corp. - Class B \* | China | 2321400 | 16164 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total** |  |  | **309931** |
|  **Materials (5.2%)** |  |  |  |
|  Grupo Mexico SAB de CV | Mexico | 5901766 | 51472 |

---

**1** 

------

Emerging Markets Equity Portfolio

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

---

| | | | |
|:---|:---|:---|:---|
| Common Stocks (95.8%) | Country | Shares/ Par <sup>+</sup> | Value<br> $(000's) |
|  **Materials continued** |  |  |  |
|  UltraTech Cement, Ltd. | India | 110064 | 15154 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total** |  |  | **66626** |
|  **Real Estate (2.4%)** |  |  |  |
|  Aldar Properties PJSC | United Arab<br> Emirates | 4928822 | 12718 |
|  China Resources Land, Ltd. | China | 2490000 | 9735 |
|  Godrej Properties, Ltd. \* | India | 366064 | 8130 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total** |  |  | **30583** |
|  **Utilities (1.0%)** |  |  |  |
|  NTPC, Ltd. | India | 3223684 | 12362 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total** |  |  | **12362** |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Common Stocks (Cost: $882,037)** | &nbsp;&nbsp;&nbsp;&nbsp; **Total Common Stocks (Cost: $882,037)** | &nbsp;&nbsp;&nbsp;&nbsp; **Total Common Stocks (Cost: $882,037)** | **1236404** |

---

---

| | | | |
|:---|:---|:---|:---|
| Preferred Stocks (4.5%) | Country | Shares/ Par <sup>+</sup> | Value<br> $(000's) |
|  **Information Technology (4.5%)** | **Information Technology (4.5%)** |  |  |
|  Samsung Electronics Co., Ltd. | South Korea | 1232008 | 58571 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total** |  |  | **58571** |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Preferred Stocks (Cost: $51,086)** | &nbsp;&nbsp;&nbsp;&nbsp; **Total Preferred Stocks (Cost: $51,086)** | &nbsp;&nbsp;&nbsp;&nbsp; **Total Preferred Stocks (Cost: $51,086)** | **58571** |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investments (100.3%) (Cost: $933,123)<sup>@</sup>**  | &nbsp;&nbsp;&nbsp;&nbsp; **Total Investments (100.3%) (Cost: $933,123)<sup>@</sup>**  | &nbsp;&nbsp;&nbsp;&nbsp; **Total Investments (100.3%) (Cost: $933,123)<sup>@</sup>**  | **1294975** |
| &nbsp;&nbsp;&nbsp;&nbsp; **Other Assets, Less Liabilities (-0.3%)** | &nbsp;&nbsp;&nbsp;&nbsp; **Other Assets, Less Liabilities (-0.3%)** | &nbsp;&nbsp;&nbsp;&nbsp; **Other Assets, Less Liabilities (-0.3%)** | **(3693)** |
| &nbsp;&nbsp;&nbsp;&nbsp; **Net Assets (100.0%)** |  |  | **1291282** |

---

---

| | |
|:---|:---|
|  Investments by Country of Risk as a Percentage of Net Assets: |  |
|  China | 30.4% |
|  Taiwan | 19.1% |
|  India | 16.2% |
|  South Korea | 10.9% |
|  Mexico | 5.8% |
|  Other | 17.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.3% |

---

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

\* Non income producing

Æ Security valued using significant unobservable inputs.

---

| | |
|:---|:---|
| @ | At September 30, 2025, the aggregate cost of investments, including derivatives, for federal tax purposes (in thousands) was $933,123 and the net unrealized appreciation of investments based on that cost was $361,852 which is comprised of $391,104 aggregate gross unrealized appreciation and $29,252 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.  |

---

**2** 

------

Emerging Markets Equity 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.

---

| | | | |
|:---|:---|:---|:---|
| | Valuation Inputs | Valuation Inputs | 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; Common Stocks |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Discretionary | $9455 | $168590 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Staples | 7414 | 31733 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy | 8585 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financials | 55089 | 243437 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrials | 10251 | 109985 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Materials | 51472 | 15154 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; All Others |  | 525239 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Preferred Stocks |  | 58571 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Assets: | $142266 | $1152709 | $— |

---

Management has determined that the amount of Level 3 securities compared to total net assets is not material; therefore, the reconciliation of Level 3 securities and assumptions is not shown for the period ended September 30, 2025.

**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:** Emerging Markets Equity Portfolio

- **b. EDGAR series identifier (if any):** S000018232

- **c. LEI of Series:** 549300B2SFS01R9MCJ10

**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:** $1307584455.38

**Total Liabilities:** $7607726.05

**Net Assets:** $1299976729.33

**Cash Not Reported:** $3852667.81

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000050280 | 2.23%                | 3.82%                | 8.77%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $11079864.06             | $11534707.26                               |
| Month 2  | $10001465.87             | $35227240.81                               |
| Month 3  | $11917100.87             | $92327979.75                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Cholamandalam Investment and Finance Co Ltd         | Cholamandalam Investment and Finance Co Ltd         | CUSIP: 000000000<br>LEI: 3358008DNPV45O4EII52 | Long             | EC               | CORP              | IN        |    692929 | NS      | $12575336.57  | 0.97%             |  |  |  | No            |                  2 | On Loan: No      |
| Xiaomi Corp                                         | Xiaomi Corp                                         | CUSIP: 000000000<br>LEI: 2549001ACVFAZRNMKL32 | Long             | EC               | CORP              | KY        |   2321400 | NS      | $16163598.60  | 1.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Contemporary Amperex Technology Co Ltd              | Contemporary Amperex Technology Co Ltd              | CUSIP: 000000000<br>LEI: 300300KINDY1K0E9I032 | Long             | EC               | CORP              | CN        |    569049 | NS      | $32181036.96  | 2.48%             |  |  |  | No            |                  2 | On Loan: No      |
| Grupo Mexico SAB de CV                              | Grupo Mexico SAB de CV                              | CUSIP: 000000000<br>LEI: 529900JWLZAYET2ZGW20 | Long             | EC               | CORP              | MX        |   5901766 | NS      | $51471868.60  | 3.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Kweichow Moutai Co Ltd                              | Kweichow Moutai Co Ltd                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |     53573 | NS      | $10868365.43  | 0.84%             |  |  |  | No            |                  2 | On Loan: No      |
| NAURA Technology Group Co Ltd                       | NAURA Technology Group Co Ltd                       | CUSIP: 000000000<br>LEI: 300300JI5I0B95GO5C39 | Long             | EC               | CORP              | CN        |    111000 | NS      | $7059836.35   | 0.54%             |  |  |  | No            |                  2 | On Loan: No      |
| Abu Dhabi Islamic Bank PJSC                         | Abu Dhabi Islamic Bank PJSC                         | CUSIP: 000000000<br>LEI: 5493006DOLY8O98XHD74 | Long             | EC               | CORP              | AE        |   3520206 | NS      | $20882534.20  | 1.61%             |  |  |  | No            |                  2 | On Loan: No      |
| PICC Property & Casualty Co Ltd                     | PICC Property & Casualty Co Ltd                     | CUSIP: 000000000<br>LEI: 300300F1000311000017 | Long             | EC               | CORP              | CN        |   7367900 | NS      | $16662038.21  | 1.28%             |  |  |  | No            |                  2 | On Loan: No      |
| Grupo Aeroportuario del Sureste SAB de CV           | Grupo Aeroportuario del Sureste SAB de CV           | CUSIP: 000000000<br>LEI: 5299001W7JIDXCUOUC82 | Long             | EC               | CORP              | MX        |    317438 | NS      | $10251235.84  | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| NAC Kazatomprom JSC                                 | NAC Kazatomprom JSC                                 | CUSIP: 63253R201<br>LEI: 5493008JG5TXJP2JSY44 | Long             | EC               | CORP              | KZ        |     68858 | NS      | $3670131.40   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Havells India Ltd                                   | Havells India Ltd                                   | CUSIP: 000000000<br>LEI: 549300U1LOGHTTNT7D47 | Long             | EC               | CORP              | IN        |    358864 | NS      | $6071994.09   | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| Tata Consultancy Services Ltd                       | Tata Consultancy Services Ltd                       | CUSIP: 000000000<br>LEI: 335800ZJKU9GPQRE2U66 | Long             | EC               | CORP              | IN        |    347195 | NS      | $11296538.26  | 0.87%             |  |  |  | No            |                  2 | On Loan: No      |
| Torrent Pharmaceuticals Ltd                         | Torrent Pharmaceuticals Ltd                         | CUSIP: 000000000<br>LEI: 335800NA6HK275RIJE13 | Long             | EC               | CORP              | IN        |    340505 | NS      | $13821801.49  | 1.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Telkom Indonesia Persero Tbk PT                     | Telkom Indonesia Persero Tbk PT                     | CUSIP: 000000000<br>LEI: 529900M5SQZAOKV1PC81 | Long             | EC               | CORP              | ID        |  93832500 | NS      | $17300544.46  | 1.33%             |  |  |  | No            |                  2 | On Loan: No      |
| ASE Technology Holding Co Ltd                       | ASE Technology Holding Co Ltd                       | CUSIP: 000000000<br>LEI: 300300GO8QHPMV87NZ73 | Long             | EC               | CORP              | TW        |   1589000 | NS      | $8620240.02   | 0.66%             |  |  |  | No            |                  2 | On Loan: No      |
| MediaTek Inc                                        | MediaTek Inc                                        | CUSIP: 000000000<br>LEI: 254900UEGBK1I4DM4E14 | Long             | EC               | CORP              | TW        |    464000 | NS      | $20113338.42  | 1.55%             |  |  |  | No            |                  2 | On Loan: No      |
| National Bank of Greece SA                          | National Bank of Greece SA                          | CUSIP: 000000000<br>LEI: 5UMCZOEYKCVFAW8ZLO05 | Long             | EC               | CORP              | GR        |   1040025 | NS      | $15148325.70  | 1.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Godrej Properties Ltd                               | Godrej Properties Ltd                               | CUSIP: 000000000<br>LEI: 335800KM3Y5NZWXOE183 | Long             | EC               | CORP              | IN        |    366064 | NS      | $8130278.11   | 0.63%             |  |  |  | No            |                  2 | On Loan: No      |
| HDFC Bank Ltd                                       | HDFC Bank Ltd                                       | CUSIP: 000000000<br>LEI: 335800ZQ6I4E2JXENC50 | Long             | EC               | CORP              | IN        |   4038942 | NS      | $43272998.26  | 3.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Zabka Group SA                                      | Zabka Group SA                                      | CUSIP: 000000000<br>LEI: 549300TU2RZ35E4ET914 | Long             | EC               | CORP              | LU        |   1353152 | NS      | $8735351.26   | 0.67%             |  |  |  | No            |                  2 | On Loan: No      |
| NTPC Ltd                                            | NTPC Ltd                                            | CUSIP: 000000000<br>LEI: 335800Q4TRGJXNLVMB81 | Long             | EC               | CORP              | IN        |   3223684 | NS      | $12361998.36  | 0.95%             |  |  |  | No            |                  2 | On Loan: No      |
| HD Korea Shipbuilding & Offshore Engineering Co Ltd | HD Korea Shipbuilding & Offshore Engineering Co Ltd | CUSIP: 000000000<br>LEI: 988400DPTJ9KH5R6W540 | Long             | EC               | CORP              | KR        |     45466 | NS      | $13374867.17  | 1.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Sanlam Ltd                                          | Sanlam Ltd                                          | CUSIP: 000000000<br>LEI: 37890014418406D9FC23 | Long             | EC               | CORP              | ZA        |   2370818 | NS      | $11477034.39  | 0.88%             |  |  |  | No            |                  2 | On Loan: No      |
| Techtronic Industries Co Ltd                        | Techtronic Industries Co Ltd                        | CUSIP: 000000000<br>LEI: 549300HZW2SBE758OK89 | Long             | EC               | CORP              | HK        |   1067500 | NS      | $13695281.98  | 1.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Shenzhen Envicool Technology Co Ltd                 | Shenzhen Envicool Technology Co Ltd                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |    562096 | NS      | $6311262.56   | 0.49%             |  |  |  | No            |                  2 | On Loan: No      |
| Itausa SA                                           | Itausa SA                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |   8699982 | NS      | $18749362.31  | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| ANTA Sports Products Ltd                            | ANTA Sports Products Ltd                            | CUSIP: 000000000<br>LEI: 529900291XG0CTK4LF95 | Long             | EC               | CORP              | KY        |   1400600 | NS      | $16838400.36  | 1.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Grupo Financiero Banorte SAB de CV                  | Grupo Financiero Banorte SAB de CV                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | MX        |   1327153 | NS      | $13369000.22  | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Shinhan Financial Group Co Ltd                      | Shinhan Financial Group Co Ltd                      | CUSIP: 000000000<br>LEI: 988400EB8A6G49E5KO54 | Long             | EC               | CORP              | KR        |    370300 | NS      | $18622733.14  | 1.43%             |  |  |  | No            |                  2 | On Loan: No      |
| Midea Group Co Ltd                                  | Midea Group Co Ltd                                  | CUSIP: 000000000<br>LEI: 3003003TRPHLHZD2IF61 | Long             | EC               | CORP              | CN        |   2029200 | NS      | $21421977.27  | 1.65%             |  |  |  | No            |                  2 | On Loan: No      |
| Bharti Airtel Ltd                                   | Bharti Airtel Ltd                                   | CUSIP: 000000000<br>LEI: 335800KQ1FPKOQ84OR26 | Long             | EC               | CORP              | IN        |    834862 | NS      | $17686893.11  | 1.36%             |  |  |  | No            |                  2 | On Loan: No      |
| NARI Technology Co Ltd                              | NARI Technology Co Ltd                              | CUSIP: 000000000<br>LEI: 3003006IGH1W58MAQM05 | Long             | EC               | CORP              | CN        |   3495098 | NS      | $11269600.78  | 0.87%             |  |  |  | No            |                  2 | On Loan: No      |
| Mahindra & Mahindra Ltd                             | Mahindra & Mahindra Ltd                             | CUSIP: 000000000<br>LEI: 3358003B573EV4KB4Z02 | Long             | EC               | CORP              | IN        |    484798 | NS      | $18716726.06  | 1.44%             |  |  |  | No            |                  2 | On Loan: No      |
| Aldar Properties PJSC                               | Aldar Properties PJSC                               | CUSIP: 000000000<br>LEI: 98450048CD8AEF13B480 | Long             | EC               | CORP              | AE        |   4928822 | NS      | $12718388.35  | 0.98%             |  |  |  | No            |                  2 | On Loan: No      |
| Trip.com Group Ltd                                  | Trip.com Group Ltd                                  | CUSIP: 000000000<br>LEI: 2549004RMYDSRQL4KW41 | Long             | EC               | CORP              | KY        |    245900 | NS      | $18641540.17  | 1.43%             |  |  |  | No            |                  2 | On Loan: No      |
| HD Hyundai Electric Co Ltd                          | HD Hyundai Electric Co Ltd                          | CUSIP: 000000000<br>LEI: 988400CSDKM9UHLHGB91 | Long             | EC               | CORP              | KR        |     25912 | NS      | $10808140.63  | 0.83%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank Negara Indonesia Persero Tbk PT                | Bank Negara Indonesia Persero Tbk PT                | CUSIP: 000000000<br>LEI: 549300HZ8J3MLVXQ8F85 | Long             | EC               | CORP              | ID        |  72341000 | NS      | $17901016.81  | 1.38%             |  |  |  | No            |                  2 | On Loan: No      |
| Delta Electronics Inc                               | Delta Electronics Inc                               | CUSIP: 000000000<br>LEI: 529900UVZWNWGDLJSM52 | Long             | EC               | CORP              | TW        |    849000 | NS      | $23798841.58  | 1.83%             |  |  |  | No            |                  2 | On Loan: No      |
| Giant Biogene Holding Co ltd                        | Giant Biogene Holding Co ltd                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |   1667000 | NS      | $12128996.63  | 0.93%             |  |  |  | No            |                  2 | On Loan: No      |
| Accton Technology Corp                              | Accton Technology Corp                              | CUSIP: 000000000<br>LEI: 529900M1YRZ0GWMDF920 | Long             | EC               | CORP              | TW        |    388000 | NS      | $13433220.52  | 1.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Samsung C&T Corp                                    | Samsung C&T Corp                                    | CUSIP: 000000000<br>LEI: 988400GFRE4IDFPE9E64 | Long             | EC               | CORP              | KR        |     85731 | NS      | $11344123.19  | 0.87%             |  |  |  | No            |                  2 | On Loan: No      |
| Sberbank of Russia PJSC                             | Sberbank of Russia PJSC                             | CUSIP: 000000000<br>LEI: 549300WE6TAF5EEWQS81 | Long             | EC               | CORP              | RU        |   1471064 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Kaspi.KZ JSC                                        | Kaspi.KZ JSC                                        | CUSIP: 48581R205<br>LEI: 2549003YU6FARG8OAZ13 | Long             | EC               | CORP              | KZ        |     77564 | NS      | $6335427.52   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Alibaba Group Holding Ltd                           | Alibaba Group Holding Ltd                           | CUSIP: 000000000<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | KY        |   3320000 | NS      | $74420379.71  | 5.72%             |  |  |  | No            |                  2 | On Loan: No      |
| SK Hynix Inc                                        | SK Hynix Inc                                        | CUSIP: 000000000<br>LEI: 988400XAIK6XISWQV045 | Long             | EC               | CORP              | KR        |    113281 | NS      | $28323967.83  | 2.18%             |  |  |  | No            |                  2 | On Loan: No      |
| NU Holdings Ltd/Cayman Islands                      | NU Holdings Ltd/Cayman Islands                      | CUSIP: 000000000<br>LEI: 5493002DG1RHWK9W2X27 | Long             | EC               | CORP              | KY        |   1039092 | NS      | $16635862.92  | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Raia Drogasil SA                                    | Raia Drogasil SA                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |   2142137 | NS      | $7413812.49   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Indian Hotels Co Ltd/The                            | Indian Hotels Co Ltd/The                            | CUSIP: 000000000<br>LEI: 33580076CH5SBY5HWA22 | Long             | EC               | CORP              | IN        |   1813239 | NS      | $14716973.27  | 1.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Al Rajhi Bank                                       | Al Rajhi Bank                                       | CUSIP: 000000000<br>LEI: 558600BQZS4Y1DTU8589 | Long             | EC               | CORP              | SA        |    880011 | NS      | $25123870.78  | 1.93%             |  |  |  | No            |                  2 | On Loan: No      |
| SBI Life Insurance Co Ltd                           | SBI Life Insurance Co Ltd                           | CUSIP: 000000000<br>LEI: 335800WMVIESQUO95586 | Long             | EC               | CORP              | IN        |    861837 | NS      | $17390999.22  | 1.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co Ltd           | Taiwan Semiconductor Manufacturing Co Ltd           | CUSIP: 000000000<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |   4163290 | NS      | $181121238.38 | 13.93%            |  |  |  | No            |                  2 | On Loan: No      |
| UltraTech Cement Ltd                                | UltraTech Cement Ltd                                | CUSIP: 000000000<br>LEI: 335800PC9O9B4BQHG814 | Long             | EC               | CORP              | IN        |    110064 | NS      | $15153774.55  | 1.17%             |  |  |  | No            |                  2 | On Loan: No      |
| JB Chemicals & Pharmaceuticals Ltd                  | JB Chemicals & Pharmaceuticals Ltd                  | CUSIP: 000000000<br>LEI: 335800EZQUJ9BB5YBV04 | Long             | EC               | CORP              | IN        |    286065 | NS      | $5526912.80   | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| MercadoLibre Inc                                    | MercadoLibre Inc                                    | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | US        |      4046 | NS      | $9455259.24   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| ICICI Bank Ltd                                      | ICICI Bank Ltd                                      | CUSIP: 000000000<br>LEI: R7RX8ER1V4666J8D1I38 | Long             | EC               | CORP              | IN        |    838699 | NS      | $12721576.94  | 0.98%             |  |  |  | No            |                  2 | On Loan: No      |
| China Merchants Bank Co Ltd                         | China Merchants Bank Co Ltd                         | CUSIP: 000000000<br>LEI: 549300MKO5B60FFIHF58 | Long             | EC               | CORP              | CN        |   2916000 | NS      | $17542881.50  | 1.35%             |  |  |  | No            |                  2 | On Loan: No      |
| InPost SA                                           | InPost SA                                           | CUSIP: 000000000<br>LEI: 2221003M23QLERR89585 | Long             | EC               | CORP              | LU        |    401310 | NS      | $4928128.47   | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| AIA Group Ltd                                       | AIA Group Ltd                                       | CUSIP: 000000000<br>LEI: ZP5ILWVSYE4LJGMMVD57 | Long             | EC               | CORP              | HK        |   1472600 | NS      | $14115222.26  | 1.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Tencent Holdings Ltd                                | Tencent Holdings Ltd                                | CUSIP: 000000000<br>LEI: 254900N4SLUMW4XUYY11 | Long             | EC               | CORP              | KY        |   1353900 | NS      | $115346582.52 | 8.87%             |  |  |  | No            |                  2 | On Loan: No      |
| Shenzhen Mindray Bio-Medical Electronics Co Ltd     | Shenzhen Mindray Bio-Medical Electronics Co Ltd     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |    162215 | NS      | $5602459.48   | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| PRIO SA/Brazil                                      | PRIO SA/Brazil                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |    661817 | NS      | $4741431.20   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Electronics Co Ltd                          | Samsung Electronics Co Ltd                          | CUSIP: 000000000<br>LEI: 9884007ER46L6N7EI764 | Long             | EP               | CORP              | KR        |   1282360 | NS      | $60965027.68  | 4.69%             |  |  |  | No            |                  2 | On Loan: No      |
| China Resources Land Ltd                            | China Resources Land Ltd                            | CUSIP: 000000000<br>LEI: 5299001HL0TU7X15HK51 | Long             | EC               | CORP              | KY        |   2490000 | NS      | $9734703.79   | 0.75%             |  |  |  | No            |                  2 | On Loan: No      |
| Li Auto Inc                                         | Li Auto Inc                                         | CUSIP: 000000000<br>LEI: 2549003R73Q70J5H4I65 | Long             | EC               | CORP              | KY        |    490800 | NS      | $6248384.55   | 0.48%             |  |  |  | No            |                  2 | 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