Growth Stock Portfolio
NORTHWESTERN MUTUAL SERIES FUND INC
Expense ratio
Net assets1
$1.31B
Holdings1
58
Category
US Equity
Return

Investment objective & strategy

As of May 2, 2025 · prospectus

Objective. The investment objective of the Portfolio is long-term growth of capital.

Strategy. Normally, the Portfolio invests at least 80% of net assets (plus any borrowings for investment purposes) in stocks of growth companies. Growth companies, as defined by the adviser, are those included in a third-party growth index. For this purpose, a third-party growth index is an index developed, calculated, and maintained by a third-party that measures the performance of growth stocks. For the avoidance of doubt, the Portfolio does not intend to track an index. The adviser generally selects blue chip growth companies, which are, in the adviser's view, well established in their industries and have the potential for above-average earnings growth, for inclusion in the Portfolio. The investment approach reflects the advisers belief that solid company fundamentals (with an emphasis … Normally, the Portfolio invests at least 80% of net assets (plus any borrowings for investment purposes) in stocks of growth companies. Growth companies, as defined by the adviser, are those included in a third-party growth index. For this purpose, a third-party growth index is an index developed, calculated, and maintained by a third-party that measures the performance of growth stocks. For the avoidance of doubt, the Portfolio does not intend to track an index. The adviser generally selects blue chip growth companies, which are, in the adviser's view, well established in their industries and have the potential for above-average earnings growth, for inclusion in the Portfolio. The investment approach reflects the advisers belief that solid company fundamentals (with an emphasis on the potential for strong growth in earnings per share or operating cash flow) combined with a positive outlook for a companys industry will ultimately reward investors with strong investment performance. The Portfolio normally invests in stocks of large and mid-capitalization companies. While the Portfolio does not seek to focus its investments in any particular sector, the Portfolio may at times have a relatively high percentage of its assets invested in a particular sector as a result of the advisers stock selection process. Further, the Portfolio may hold and maintain large positions in a single or small number of securities as a result of the advisers investment strategy. The adviser integrates environmental, social, and governance (ESG) factors into its investment research process for certain investments. While ESG matters vary widely, the adviser generally considers ESG factors such as climate change, resource depletion, labor standards, diversity, human rights issues, and governance structure and practices. For certain types of investments, including, but not limited to, cash, currency positions, and particular types of derivatives, an ESG analysis may not be relevant or possible due to lack of data. Where ESG considerations are integrated into the investment research process, the adviser focuses on the ESG factors that it considers most likely to have a material impact on the performance of the holdings in the Portfolio. The adviser may conclude that other attributes of an investment outweigh ESG considerations when making investment decisions for the Portfolio. In pursuing its investment objective, the Portfolio has the discretion to deviate from its normal investment criteria. These situations might arise when the adviser believes a security could increase in value for a variety of reasons, including an extraordinary corporate event, a new product introduction or innovation, a favorable competitive development, or a change in management. The Portfolio invests primarily in common stocks. In keeping with the Portfolios investment objective, it may also invest up to 20% of net assets in foreign based companies listed on foreign exchanges, either directly or through American Depositary Receipts (ADRs). The Portfolio may sell a security for a variety of reasons, such as a significant adverse change in the companys business fundamentals, to secure gains or limit losses, or to redeploy assets into more promising opportunities.

Top holdings

As of March 31, 2026 · N-PORT
SecurityTickerValue% of fund
NVIDIA CORP $218.85M 16.74%
APPLE INC $120.31M 9.20%
MICROSOFT CORP $107.61M 8.23%
AMAZON.COM INC $87.84M 6.72%
ALPHABET INC CL C $80.60M 6.16%
META PLATFORMS INC CL A $65.52M 5.01%
BROADCOM INC $65.48M 5.01%
CARVANA CO CL A $46.40M 3.55%
LILLY ELI and CO $39.00M 2.98%
VISA INC-CLASS A $36.74M 2.81%
View all holdings →

Allocation by sector

As of March 31, 2026 · N-PORT
View portfolio breakdown →

Portfolio moves

Dec 31, 2025 → Mar 31, 2026
Opened
0
Exited
1
Increased
4
Decreased
35
Unchanged
19

How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.

View portfolio moves →

Similar funds

Funds whose portfolios most overlap this one, by weight
FundOverlapNet exp.
MML Blue Chip Growth Fund 97% 0.77%
T. Rowe Price Blue Chip Growth Portfolio · QAAAJX, QAAGXX 95% 0.74%
T. Rowe Price Blue Chip Growth Fund, Inc. · TRBCX, PABGX, RRBGX, TBCIX, TRZBX 95% 0.00%
View all similar funds →

Advisers

As of December 31, 2025 · N-CEN
FirmRole
T. Rowe Price Associates, Inc. Sub-adviser
Mason Street Advisors, LLC Adviser

Footnotes

  1. Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.

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