Form NPORT-P NORTHWESTERN MUTUAL SERI For: Mar 31

May 24, 2022 1:40 PM EDT

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        XP Inc
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        Aegon NV
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        Beiersdorf AG
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        Axis Bank Ltd
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        Axis Bank Ltd
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        Millicom International Cellular SA
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        Millicom International Cellular SA
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        HSBC Bank USA N.A.
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        Mitsubishi UFJ Financial Group Inc
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        Schlumberger NV
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              Bank of America N.A.
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        Bank of America N.A.
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        1.00000000
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        11852.95000000
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              Bank of America N.A.
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            654968.81000000
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        Olympus Corp
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        Olympus Corp
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        725100.00000000
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        Bank of America N.A.
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              Bank of America N.A.
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            327640.32000000
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        Holcim Ltd
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        Holcim Ltd
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        830000.00000000
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        BNP Paribas SA
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        Bank of America N.A.
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              Bank of America N.A.
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            327751.85000000
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        Nutrien Ltd
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        Bank of America N.A.
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        Aviva PLC
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        000000000
        
          
        
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              Citibank N.A.
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          N
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        HSBC Bank USA N.A.
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        000000000
        
          
        
        1.00000000
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              HSBC Bank USA N.A.
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            219778371.00000000
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          N
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        HSBC Bank USA N.A.
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        1.00000000
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              HSBC Bank USA N.A.
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            18250000.00000000
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          N
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        HSBC Bank USA N.A.
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        PURCHASED CHF / SOLD USD
        000000000
        
          
        
        1.00000000
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        6303.88000000
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        N/A
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              HSBC Bank USA N.A.
              1IE8VN30JCEQV1H4R804
            
            327109.17000000
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            308002.00000000
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            2022-04-13
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          N
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        Akzo Nobel NV
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        Akzo Nobel NV
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        285000.00000000
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        24486100.12000000
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        Bank of America N.A.
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        PURCHASED CHF / SOLD USD
        000000000
        
          
        
        1.00000000
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        5866.85000000
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        N/A
        DFE
        
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              Bank of America N.A.
              B4TYDEB6GKMZO031MB27
            
            327539.70000000
            USD
            307996.00000000
            CHF
            2022-04-13
            5866.85000000
          
        
        
          N
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        Daito Trust Construction Co Ltd
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        Daito Trust Construction Co Ltd
        000000000
        
          
        
        126000.00000000
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        0.724793693319
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        Roche Holding AG
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        Roche Holding AG
        000000000
        
          
        
        143000.00000000
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        56552969.92000000
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        Long
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        CORP
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        N
        
        2
        
          N
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          N
        
      
      
        Alibaba Group Holding Ltd
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        Alibaba Group Holding Ltd
        01609W102
        
          
        
        320000.00000000
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        CORP
        KY
        
        N
        
        1
        
          N
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        State Street Global Advisors
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        State Street Institutional US Government Money Market Fund
        857492706
        
          
        
        16499977.24000000
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        USD
        16499977.24000000
        0.894568952264
        Long
        STIV
        RF
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        N
        
        1
        
          N
          N
          N
        
      
      
        Standard Chartered Bank
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        PURCHASED USD / SOLD CHF
        000000000
        
          
        
        1.00000000
        NC
        
        -21273.40000000
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        N/A
        DFE
        
        US
        N
        
        2
        
          
            
              Standard Chartered Bank
              RILFO74KP1CM8P6PCT96
            
            1642670.00000000
            CHF
            1761730.19000000
            USD
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            -21273.40000000
          
        
        
          N
          N
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        TotalEnergies SE
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        TotalEnergies SE
        000000000
        
          
        
        755000.00000000
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        38307745.60000000
        2.076907097904
        Long
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        CORP
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        N
        
        2
        
          N
          N
          N
        
      
      
        Itau Unibanco Holding SA
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        Itau Unibanco Holding SA
        000000000
        
          
        
        8543000.00000000
        NS
        
        49308795.33000000
        2.673344134612
        Long
        EP
        CORP
        BR
        N
        
        1
        
          N
          N
          N
        
      
      
        Bank of America N.A.
        B4TYDEB6GKMZO031MB27
        PURCHASED CHF / SOLD USD
        000000000
        
          
        
        1.00000000
        NC
        
        5769.60000000
        0.000312806796
        N/A
        DFE
        
        CH
        N
        
        2
        
          
            
              Bank of America N.A.
              B4TYDEB6GKMZO031MB27
            
            327641.28000000
            USD
            308000.00000000
            CHF
            2022-04-13
            5769.60000000
          
        
        
          N
          N
          N
        
      
      
        Bank of America N.A.
        B4TYDEB6GKMZO031MB27
        PURCHASED CHF / SOLD USD
        000000000
        
          
        
        1.00000000
        NC
        
        6239.47000000
        0.000338281444
        N/A
        DFE
        
        CH
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              Bank of America N.A.
              B4TYDEB6GKMZO031MB27
            
            327172.49000000
            USD
            308001.00000000
            CHF
            2022-04-13
            6239.47000000
          
        
        
          N
          N
          N
        
      
      
        HSBC Bank USA N.A.
        1IE8VN30JCEQV1H4R804
        PURCHASED USD / SOLD CNH
        000000000
        
          
        
        1.00000000
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        -15210.12000000
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        N/A
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        US
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              HSBC Bank USA N.A.
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            18250000.00000000
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            2825383.55000000
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            2023-02-08
            -15210.12000000
          
        
        
          N
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        HSBC Bank USA N.A.
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        000000000
        
          
        
        1.00000000
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              HSBC Bank USA N.A.
              1IE8VN30JCEQV1H4R804
            
            1642666.00000000
            CHF
            1762549.70000000
            USD
            2022-06-15
            -20449.55000000
          
        
        
          N
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        Bank of America N.A.
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        PURCHASED USD / SOLD CHF
        000000000
        
          
        
        1.00000000
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        -200.47000000
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        N/A
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        US
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              Bank of America N.A.
              B4TYDEB6GKMZO031MB27
            
            1474837.00000000
            CHF
            1596314.80000000
            USD
            2022-04-13
            -200.47000000
          
        
        
          N
          N
          N
        
      
      
        Bank of America N.A.
        B4TYDEB6GKMZO031MB27
        PURCHASED USD / SOLD CHF
        000000000
        
          
        
        1.00000000
        NC
        
        -340.42000000
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        N/A
        DFE
        
        US
        N
        
        2
        
          
            
              Bank of America N.A.
              B4TYDEB6GKMZO031MB27
            
            1474834.00000000
            CHF
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            USD
            2022-04-13
            -340.42000000
          
        
        
          N
          N
          N
        
      
      
        Johnson Controls International plc
        549300XQ6S1GYKGBL205
        Johnson Controls International plc
        000000000
        
          
        
        545000.00000000
        NS
        USD
        35735650.00000000
        1.937457398516
        Long
        EC
        CORP
        IE
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Suncor Energy Inc
        549300W70ZOQDVLCHY06
        Suncor Energy Inc
        867224107
        
          
        
        1150000.00000000
        NS
        USD
        37478500.00000000
        2.031948407551
        Long
        EC
        CORP
        CA
        N
        
        1
        
          N
          N
          N
        
      
      
        Bank of America N.A.
        B4TYDEB6GKMZO031MB27
        PURCHASED USD / SOLD CNH
        000000000
        
          
        
        1.00000000
        NC
        
        -77847.96000000
        -0.00422063418
        N/A
        DFE
        
        US
        N
        
        2
        
          
            
              Bank of America N.A.
              B4TYDEB6GKMZO031MB27
            
            36000000.00000000
            CNY
            5532503.46000000
            USD
            2022-12-07
            -77847.96000000
          
        
        
          N
          N
          N
        
      
      
        Smiths Group PLC
        213800MJL6IPZS3ASA11
        Smiths Group PLC
        000000000
        
          
        
        765000.00000000
        NS
        
        14501215.86000000
        0.786203355905
        Long
        EC
        CORP
        GB
        N
        
        2
        
          N
          N
          N
        
      
      
        Standard Chartered Bank
        RILFO74KP1CM8P6PCT96
        PURCHASED USD / SOLD CHF
        000000000
        
          
        
        1.00000000
        NC
        
        -21969.54000000
        -0.00119110881
        N/A
        DFE
        
        US
        N
        
        2
        
          
            
              Standard Chartered Bank
              RILFO74KP1CM8P6PCT96
            
            1642668.00000000
            CHF
            1761031.88000000
            USD
            2022-06-15
            -21969.54000000
          
        
        
          N
          N
          N
        
      
      
        Standard Chartered Bank
        RILFO74KP1CM8P6PCT96
        PURCHASED USD / SOLD CNH
        000000000
        
          
        
        1.00000000
        NC
        
        -14985.42000000
        -0.00081245514
        N/A
        DFE
        
        US
        N
        
        2
        
          
            
              Standard Chartered Bank
              RILFO74KP1CM8P6PCT96
            
            18100000.00000000
            CNY
            2803680.41000000
            USD
            2023-01-11
            -14985.42000000
          
        
        
          N
          N
          N
        
      
      
        HSBC Bank USA N.A.
        1IE8VN30JCEQV1H4R804
        PURCHASED USD / SOLD CNH
        000000000
        
          
        
        1.00000000
        NC
        
        -15115.70000000
        -0.00081951845
        N/A
        DFE
        
        US
        N
        
        2
        
          
            
              HSBC Bank USA N.A.
              1IE8VN30JCEQV1H4R804
            
            18100000.00000000
            CNY
            2803550.13000000
            USD
            2023-01-11
            -15115.70000000
          
        
        
          N
          N
          N
        
      
      
        TC Energy Corp
        549300UGKOFV2IWJJG27
        TC Energy Corp
        87807B107
        
          
        
        400000.00000000
        NS
        USD
        22568000.00000000
        1.223555149262
        Long
        EC
        CORP
        CA
        N
        
        1
        
          N
          N
          N
        
      
      
        Murata Manufacturing Co Ltd
        529900QZG6DL8ZRI7140
        Murata Manufacturing Co Ltd
        000000000
        
          
        
        205000.00000000
        NS
        
        13551663.87000000
        0.734722089206
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Bank of America N.A.
        B4TYDEB6GKMZO031MB27
        PURCHASED USD / SOLD CHF
        000000000
        
          
        
        1.00000000
        NC
        
        -1295.86000000
        -0.00007025683
        N/A
        DFE
        
        US
        N
        
        2
        
          
            
              Bank of America N.A.
              B4TYDEB6GKMZO031MB27
            
            1699833.00000000
            CHF
            1841279.74000000
            USD
            2022-05-18
            -1295.86000000
          
        
        
          N
          N
          N
        
      
      
        Fresenius Medical Care AG & Co KGaA
        549300CP8NY40UP89Q40
        Fresenius Medical Care AG & Co KGaA
        000000000
        
          
        
        360000.00000000
        NS
        
        24142517.85000000
        1.308919799340
        Long
        EC
        CORP
        DE
        N
        
        2
        
          N
          N
          N
        
      
      
        Bank of America N.A.
        B4TYDEB6GKMZO031MB27
        PURCHASED CHF / SOLD USD
        000000000
        
          
        
        1.00000000
        NC
        
        6124.38000000
        0.000332041682
        N/A
        DFE
        
        CH
        N
        
        2
        
          
            
              Bank of America N.A.
              B4TYDEB6GKMZO031MB27
            
            327286.50000000
            USD
            308000.00000000
            CHF
            2022-04-13
            6124.38000000
          
        
        
          N
          N
          N
        
      
      
        HSBC Bank USA N.A.
        1IE8VN30JCEQV1H4R804
        PURCHASED USD / SOLD CHF
        000000000
        
          
        
        1.00000000
        NC
        
        1700.81000000
        0.000092211752
        N/A
        DFE
        
        US
        N
        
        2
        
          
            
              HSBC Bank USA N.A.
              1IE8VN30JCEQV1H4R804
            
            1474835.00000000
            CHF
            1598213.92000000
            USD
            2022-04-13
            1700.81000000
          
        
        
          N
          N
          N
        
      
      
        Bank of America N.A.
        B4TYDEB6GKMZO031MB27
        PURCHASED USD / SOLD CHF
        000000000
        
          
        
        1.00000000
        NC
        
        -459.25000000
        -0.00002489887
        N/A
        DFE
        
        US
        N
        
        2
        
          
            
              Bank of America N.A.
              B4TYDEB6GKMZO031MB27
            
            1474832.00000000
            CHF
            1596050.61000000
            USD
            2022-04-13
            -459.25000000
          
        
        
          N
          N
          N
        
      
      
        Honda Motor Co Ltd
        549300P7ZYCQJ36CCS16
        Honda Motor Co Ltd
        000000000
        
          
        
        1540000.00000000
        NS
        
        43760970.09000000
        2.372561161393
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Anheuser-Busch InBev SA/NV
        5493008H3828EMEXB082
        Anheuser-Busch InBev SA/NV
        000000000
        
          
        
        475000.00000000
        NS
        
        28490173.22000000
        1.544633912916
        Long
        EC
        CORP
        BE
        N
        
        2
        
          N
          N
          N
        
      
      
        Bank of America N.A.
        B4TYDEB6GKMZO031MB27
        PURCHASED CHF / SOLD USD
        000000000
        
          
        
        1.00000000
        NC
        
        6166.70000000
        0.000334336119
        N/A
        DFE
        
        CH
        N
        
        2
        
          
            
              Bank of America N.A.
              B4TYDEB6GKMZO031MB27
            
            327244.18000000
            USD
            308000.00000000
            CHF
            2022-04-13
            6166.70000000
          
        
        
          N
          N
          N
        
      
      
        Bank of America N.A.
        B4TYDEB6GKMZO031MB27
        PURCHASED CNH / SOLD USD
        000000000
        
          
        
        1.00000000
        NC
        
        -14911.68000000
        -0.00080845723
        N/A
        DFE
        
        XX
        N
        
        2
        
          
            
              Bank of America N.A.
              B4TYDEB6GKMZO031MB27
            
            4006309.15000000
            USD
            25400000.00000000
            CNY
            2022-04-27
            -14911.68000000
          
        
        
          N
          N
          N
        
      
      
        Bank of America N.A.
        B4TYDEB6GKMZO031MB27
        PURCHASED CHF / SOLD USD
        000000000
        
          
        
        1.00000000
        NC
        
        6138.31000000
        0.000332796916
        N/A
        DFE
        
        CH
        N
        
        2
        
          
            
              Bank of America N.A.
              B4TYDEB6GKMZO031MB27
            
            327273.65000000
            USD
            308001.00000000
            CHF
            2022-04-13
            6138.31000000
          
        
        
          N
          N
          N
        
      
      
        Goldman Sachs Bank USA
        KD3XUN7C6T14HNAYLU02
        PURCHASED USD / SOLD CNY
        000000000
        
          
        
        1.00000000
        NC
        
        -72156.63000000
        -0.00391207090
        N/A
        DFE
        
        US
        N
        
        2
        
          
            
              Goldman Sachs Bank USA
              KD3XUN7C6T14HNAYLU02
            
            55000000.00000000
            CNY
            8504696.52000000
            USD
            2023-01-11
            -72156.63000000
          
        
        
          N
          N
          N
        
      
      
        Liberty Global PLC
        549300BSGXG3QLIQYT84
        Liberty Global PLC
        000000000
        
          
        
        175000.00000000
        NS
        USD
        4464250.00000000
        0.242035451749
        Long
        EC
        CORP
        GB
        N
        
        1
        
          N
          N
          N
        
      
      
        Bank of America N.A.
        B4TYDEB6GKMZO031MB27
        PURCHASED CNH / SOLD USD
        000000000
        
          
        
        1.00000000
        NC
        
        18341.34000000
        0.000994400966
        N/A
        DFE
        
        XX
        N
        
        2
        
          
            
              Bank of America N.A.
              B4TYDEB6GKMZO031MB27
            
            3863056.98000000
            USD
            24700000.00000000
            CNY
            2022-04-27
            18341.34000000
          
        
        
          N
          N
          N
        
      
      
        Nidec Corp
        353800IF171MZTNL6Y31
        Nidec Corp
        000000000
        
          
        
        90000.00000000
        NS
        
        7130318.49000000
        0.386580020574
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        HSBC Bank USA N.A.
        1IE8VN30JCEQV1H4R804
        PURCHASED CHF / SOLD USD
        000000000
        
          
        
        1.00000000
        NC
        
        6039.82000000
        0.000327457145
        N/A
        DFE
        
        CH
        N
        
        2
        
          
            
              HSBC Bank USA N.A.
              1IE8VN30JCEQV1H4R804
            
            327373.23000000
            USD
            308002.00000000
            CHF
            2022-04-13
            6039.82000000
          
        
        
          N
          N
          N
        
      
      
        Bank of America N.A.
        B4TYDEB6GKMZO031MB27
        PURCHASED CHF / SOLD USD
        000000000
        
          
        
        1.00000000
        NC
        
        6097.11000000
        0.000330563201
        N/A
        DFE
        
        CH
        N
        
        2
        
          
            
              Bank of America N.A.
              B4TYDEB6GKMZO031MB27
            
            327313.77000000
            USD
            308000.00000000
            CHF
            2022-04-13
            6097.11000000
          
        
        
          N
          N
          N
        
      
      
        Mitsubishi Chemical Holdings Corp
        353800YNKX4RQUGAR072
        Mitsubishi Chemical Holdings Corp
        000000000
        
          
        
        3662800.00000000
        NS
        
        24371713.93000000
        1.321345979944
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Standard Chartered Bank
        RILFO74KP1CM8P6PCT96
        PURCHASED USD / SOLD CNH
        000000000
        
          
        
        1.00000000
        NC
        
        -20850.11000000
        -0.00113041738
        N/A
        DFE
        
        US
        N
        
        2
        
          
            
              Standard Chartered Bank
              RILFO74KP1CM8P6PCT96
            
            17500000.00000000
            CNY
            2700950.74000000
            USD
            2023-03-22
            -20850.11000000
          
        
        
          N
          N
          N
        
      
      
        Bank of America N.A.
        B4TYDEB6GKMZO031MB27
        PURCHASED CHF / SOLD USD
        000000000
        
          
        
        1.00000000
        NC
        
        5759.02000000
        0.000312233187
        N/A
        DFE
        
        CH
        N
        
        2
        
          
            
              Bank of America N.A.
              B4TYDEB6GKMZO031MB27
            
            327652.94000000
            USD
            308001.00000000
            CHF
            2022-04-13
            5759.02000000
          
        
        
          N
          N
          N
        
      
      
        Prosus NV
        635400Z5LQ5F9OLVT688
        Prosus NV
        000000000
        
          
        
        605000.00000000
        NS
        
        32027095.94000000
        1.736393041177
        Long
        EC
        CORP
        NL
        
        N
        
        2
        
          N
          N
          N
        
      
      
        Bank of America N.A.
        B4TYDEB6GKMZO031MB27
        PURCHASED USD / SOLD CHF
        000000000
        
          
        
        1.00000000
        NC
        
        374.05000000
        0.000020279635
        N/A
        DFE
        
        US
        N
        
        2
        
          
            
              Bank of America N.A.
              B4TYDEB6GKMZO031MB27
            
            1474832.00000000
            CHF
            1596883.91000000
            USD
            2022-04-13
            374.05000000
          
        
        
          N
          N
          N
        
      
      
        UBS Group AG
        549300SZJ9VS8SGXAN81
        UBS Group AG
        000000000
        
          
        
        3500000.00000000
        NS
        
        68379511.93000000
        3.707289255848
        Long
        EC
        CORP
        CH
        N
        
        2
        
          N
          N
          N
        
      
      
        Standard Chartered PLC
        U4LOSYZ7YG4W3S5F2G91
        Standard Chartered PLC
        000000000
        
          
        
        3510765.00000000
        NS
        
        23281090.21000000
        1.262216315441
        Long
        EC
        CORP
        GB
        N
        
        2
        
          N
          N
          N
        
      
      
        HSBC Bank USA N.A.
        1IE8VN30JCEQV1H4R804
        PURCHASED USD / SOLD CNH
        000000000
        
          
        
        1.00000000
        NC
        
        -15910.83000000
        -0.00086262752
        N/A
        DFE
        
        US
        N
        
        2
        
          
            
              HSBC Bank USA N.A.
              1IE8VN30JCEQV1H4R804
            
            10350000.00000000
            CNY
            1595867.70000000
            USD
            2023-01-11
            -15910.83000000
          
        
        
          N
          N
          N
        
      
      
        Naspers Ltd
        21380044BQ8812EEKT59
        Naspers Ltd
        000000000
        
          
        
        103000.00000000
        NS
        
        11661173.79000000
        0.632226570240
        Long
        EC
        CORP
        ZA
        N
        
        2
        
          N
          N
          N
        
      
      
        Liberty Global PLC
        549300BSGXG3QLIQYT84
        Liberty Global PLC
        000000000
        
          
        
        327000.00000000
        NS
        USD
        8472570.00000000
        0.459352031681
        Long
        EC
        CORP
        GB
        N
        
        1
        
          N
          N
          N
        
      
      
        JD.com Inc
        549300HVTWB0GJZ16V92
        JD.com Inc
        47215P106
        
          
        
        425000.00000000
        NS
        USD
        24594750.00000000
        1.333438187137
        Long
        EC
        CORP
        KY
        
        N
        
        1
        
          N
          N
          N
        
      
      
        JPMorgan Chase Bank N.A.
        7H6GLXDRUGQFU57RNE97
        PURCHASED USD / SOLD CNH
        000000000
        
          
        
        1.00000000
        NC
        
        -16212.08000000
        -0.00087896020
        N/A
        DFE
        
        US
        N
        
        2
        
          
            
              JPMorgan Chase Bank N.A.
              7H6GLXDRUGQFU57RNE97
            
            20150000.00000000
            CNY
            3117747.18000000
            USD
            2023-03-22
            -16212.08000000
          
        
        
          N
          N
          N
        
      
      
        HSBC Bank USA N.A.
        1IE8VN30JCEQV1H4R804
        PURCHASED CHF / SOLD USD
        000000000
        
          
        
        1.00000000
        NC
        
        5959.72000000
        0.000323114413
        N/A
        DFE
        
        CH
        N
        
        2
        
          
            
              HSBC Bank USA N.A.
              1IE8VN30JCEQV1H4R804
            
            327451.16000000
            USD
            308000.00000000
            CHF
            2022-04-13
            5959.72000000
          
        
        
          N
          N
          N
        
      
      
        TE Connectivity Ltd
        894500ZRIX9K13RHXR17
        TE Connectivity Ltd
        000000000
        
          
        
        162000.00000000
        NS
        USD
        21218760.00000000
        1.150404247561
        Long
        EC
        CORP
        CH
        N
        
        1
        
          N
          N
          N
        
      
      
        HSBC Bank USA N.A.
        1IE8VN30JCEQV1H4R804
        PURCHASED CNH / SOLD USD
        000000000
        
          
        
        1.00000000
        NC
        
        -15417.27000000
        -0.00083586849
        N/A
        DFE
        
        XX
        N
        
        2
        
          
            
              HSBC Bank USA N.A.
              1IE8VN30JCEQV1H4R804
            
            4006814.74000000
            USD
            25400000.00000000
            CNY
            2022-04-27
            -15417.27000000
          
        
        
          N
          N
          N
        
      
      
        Baidu Inc
        254900AL64IANZYI1E02
        Baidu Inc
        056752108
        
          
        
        200000.00000000
        NS
        USD
        26460000.00000000
        1.434565280462
        Long
        EC
        CORP
        KY
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Hang Lung Group Ltd
        529900V2T2EPOQYH0981
        Hang Lung Group Ltd
        000000000
        
          
        
        4000000.00000000
        NS
        
        8475295.98000000
        0.459499824435
        Long
        EC
        CORP
        HK
        N
        
        2
        
          N
          N
          N
        
      
      
        Bayer AG
        549300J4U55H3WP1XT59
        Bayer AG
        000000000
        
          
        
        480000.00000000
        NS
        
        32840257.58000000
        1.780479717525
        Long
        EC
        CORP
        DE
        N
        
        2
        
          N
          N
          N
        
      
      
        HSBC Bank USA N.A.
        1IE8VN30JCEQV1H4R804
        PURCHASED CHF / SOLD USD
        000000000
        
          
        
        1.00000000
        NC
        
        5942.32000000
        0.000322171049
        N/A
        DFE
        
        CH
        N
        
        2
        
          
            
              HSBC Bank USA N.A.
              1IE8VN30JCEQV1H4R804
            
            327468.56000000
            USD
            308000.00000000
            CHF
            2022-04-13
            5942.32000000
          
        
        
          N
          N
          N
        
      
      
        Sanofi
        549300E9PC51EN656011
        Sanofi
        000000000
        
          
        
        715000.00000000
        NS
        
        72918740.57000000
        3.953389777655
        Long
        EC
        CORP
        FR
        N
        
        2
        
          N
          N
          N
        
      
      
        Mitsubishi Electric Corp
        549300TRXM9Y6561AX39
        Mitsubishi Electric Corp
        000000000
        
          
        
        3030000.00000000
        NS
        
        34874657.86000000
        1.890777525849
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Barclays PLC
        213800LBQA1Y9L22JB70
        Barclays PLC
        000000000
        
          
        
        18030000.00000000
        NS
        
        35025245.25000000
        1.898941828243
        Long
        EC
        CORP
        GB
        N
        
        2
        
          N
          N
          N
        
      
      
        HSBC Bank USA N.A.
        1IE8VN30JCEQV1H4R804
        PURCHASED USD / SOLD CHF
        000000000
        
          
        
        1.00000000
        NC
        
        1063.54000000
        0.000057661283
        N/A
        DFE
        
        US
        N
        
        2
        
          
            
              HSBC Bank USA N.A.
              1IE8VN30JCEQV1H4R804
            
            1474834.00000000
            CHF
            1597575.57000000
            USD
            2022-04-13
            1063.54000000
          
        
        
          N
          N
          N
        
      
      
        HSBC Bank USA N.A.
        1IE8VN30JCEQV1H4R804
        PURCHASED CNH / SOLD USD
        000000000
        
          
        
        1.00000000
        NC
        
        -16521.26000000
        -0.00089572282
        N/A
        DFE
        
        CN
        N
        
        2
        
          
            
              HSBC Bank USA N.A.
              1IE8VN30JCEQV1H4R804
            
            5626477.54000000
            USD
            35700000.00000000
            CNY
            2022-04-27
            -16521.26000000
          
        
        
          N
          N
          N
        
      
      
        GlaxoSmithKline PLC
        5493000HZTVUYLO1D793
        GlaxoSmithKline PLC
        000000000
        
          
        
        3350000.00000000
        NS
        
        72239178.94000000
        3.916546409540
        Long
        EC
        CORP
        GB
        
        N
        
        2
        
          N
          N
          N
        
      
      
        Banco Santander SA
        5493006QMFDDMYWIAM13
        Banco Santander SA
        000000000
        
          
        
        14630000.00000000
        NS
        
        49639067.00000000
        2.691250267299
        Long
        EC
        CORP
        ES
        N
        
        2
        
          N
          N
          N
        
      
      
        Bank of America N.A.
        B4TYDEB6GKMZO031MB27
        PURCHASED USD / SOLD CHF
        000000000
        
          
        
        1.00000000
        NC
        
        -2505.33000000
        -0.00013582991
        N/A
        DFE
        
        US
        N
        
        2
        
          
            
              Bank of America N.A.
              B4TYDEB6GKMZO031MB27
            
            1699835.00000000
            CHF
            1840072.44000000
            USD
            2022-05-18
            -2505.33000000
          
        
        
          N
          N
          N
        
      
      
        Grupo Televisa SAB
        549300O4AF0C816ILN62
        Grupo Televisa SAB
        40049J206
        
          
        
        1850000.00000000
        NS
        USD
        21645000.00000000
        1.173513435208
        Long
        EC
        CORP
        MX
        N
        
        1
        
          N
          N
          N
        
      
      
        Glencore PLC
        2138002658CPO9NBH955
        Glencore PLC
        000000000
        
          
        
        4350000.00000000
        NS
        
        28269645.63000000
        1.532677706416
        Long
        EC
        CORP
        JE
        
        N
        
        2
        
          N
          N
          N
        
      
      
        Brother Industries Ltd
        549300O5FACQ67KI6R92
        Brother Industries Ltd
        000000000
        
          
        
        385000.00000000
        NS
        
        7010940.37000000
        0.380107771662
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Citibank N.A.
        E57ODZWZ7FF32TWEFA76
        PURCHASED USD / SOLD CNH
        000000000
        
          
        
        1.00000000
        NC
        
        -15729.61000000
        -0.00085280243
        N/A
        DFE
        
        US
        N
        
        2
        
          
            
              Citibank N.A.
              E57ODZWZ7FF32TWEFA76
            
            20150000.00000000
            CNY
            3118229.65000000
            USD
            2023-03-22
            -15729.61000000
          
        
        
          N
          N
          N
        
      
      
        Bank of America N.A.
        B4TYDEB6GKMZO031MB27
        PURCHASED USD / SOLD CHF
        000000000
        
          
        
        1.00000000
        NC
        
        -2329.42000000
        -0.00012629270
        N/A
        DFE
        
        US
        N
        
        2
        
          
            
              Bank of America N.A.
              B4TYDEB6GKMZO031MB27
            
            1699830.00000000
            CHF
            1840242.93000000
            USD
            2022-05-18
            -2329.42000000
          
        
        
          N
          N
          N
        
      
      
        HSBC Bank USA N.A.
        1IE8VN30JCEQV1H4R804
        PURCHASED USD / SOLD CHF
        000000000
        
          
        
        1.00000000
        NC
        
        -21203.65000000
        -0.00114958503
        N/A
        DFE
        
        US
        N
        
        2
        
          
            
              HSBC Bank USA N.A.
              1IE8VN30JCEQV1H4R804
            
            1642668.00000000
            CHF
            1761797.77000000
            USD
            2022-06-15
            -21203.65000000
          
        
        
          N
          N
          N
        
      
      
        Ovintiv Inc
        N/A
        Ovintiv Inc
        69047Q102
        
          
        
        475500.00000000
        NS
        USD
        25710285.00000000
        1.393918450937
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        HSBC Bank USA N.A.
        1IE8VN30JCEQV1H4R804
        PURCHASED CNH / SOLD USD
        000000000
        
          
        
        1.00000000
        NC
        
        24287.86000000
        0.001316799723
        N/A
        DFE
        
        CN
        N
        
        2
        
          
            
              HSBC Bank USA N.A.
              1IE8VN30JCEQV1H4R804
            
            2882832.34000000
            USD
            18500000.00000000
            CNY
            2022-04-27
            24287.86000000
          
        
        
          N
          N
          N
        
      
      
        Vodafone Group PLC
        213800TB53ELEUKM7Q61
        Vodafone Group PLC
        000000000
        
          
        
        6500000.00000000
        NS
        
        10664334.94000000
        0.578181581411
        Long
        EC
        CORP
        GB
        N
        
        2
        
          N
          N
          N
        
      
      
        Credicorp Ltd
        529900UYAEYQCQ2BKB17
        Credicorp Ltd
        000000000
        
          
        
        135000.00000000
        NS
        USD
        23202450.00000000
        1.257952728332
        Long
        EC
        CORP
        BM
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Seven & i Holdings Co Ltd
        52990037G8JRM3TWGY86
        Seven & i Holdings Co Ltd
        000000000
        
          
        
        195000.00000000
        NS
        
        9278143.20000000
        0.503027290320
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Kyocera Corp
        N/A
        Kyocera Corp
        000000000
        
          
        
        335000.00000000
        NS
        
        18829917.70000000
        1.020889877792
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        HSBC Bank USA N.A.
        1IE8VN30JCEQV1H4R804
        PURCHASED CNH / SOLD USD
        000000000
        
          
        
        1.00000000
        NC
        
        18824.63000000
        0.001020603197
        N/A
        DFE
        
        XX
        N
        
        2
        
          
            
              HSBC Bank USA N.A.
              1IE8VN30JCEQV1H4R804
            
            3862573.69000000
            USD
            24700000.00000000
            CNY
            2022-04-27
            18824.63000000
          
        
        
          N
          N
          N
        
      
      
        ICICI Bank Ltd
        R7RX8ER1V4666J8D1I38
        ICICI Bank Ltd
        000000000
        
          
        
        4729500.00000000
        NS
        
        45333013.22000000
        2.457791641124
        Long
        EC
        CORP
        IN
        N
        
        2
        
          N
          N
          N
        
      
      
        Bank of America N.A.
        B4TYDEB6GKMZO031MB27
        PURCHASED USD / SOLD CHF
        000000000
        
          
        
        1.00000000
        NC
        
        -996.83000000
        -0.00005404450
        N/A
        DFE
        
        US
        N
        
        2
        
          
            
              Bank of America N.A.
              B4TYDEB6GKMZO031MB27
            
            1699833.00000000
            CHF
            1841578.77000000
            USD
            2022-05-18
            -996.83000000
          
        
        
          N
          N
          N
        
      
      
        Prudential PLC
        5493001Z3ZE83NGK8Y12
        Prudential PLC
        000000000
        
          
        
        1110000.00000000
        NS
        
        16396666.67000000
        0.888967827668
        Long
        EC
        CORP
        GB
        N
        
        2
        
          N
          N
          N
        
      
      
        Novartis AG
        5493007HIVTX6SY6XD66
        Novartis AG
        000000000
        
          
        
        715000.00000000
        NS
        
        62706546.14000000
        3.399721615652
        Long
        EC
        CORP
        CH
        N
        
        2
        
          N
          N
          N
        
      
      
        CK Asset Holdings Ltd
        5299006GJZSGP78B8S35
        CK Asset Holdings Ltd
        000000000
        
          
        
        2534900.00000000
        NS
        
        17325332.97000000
        0.939316747967
        Long
        EC
        CORP
        KY
        
        N
        
        2
        
          N
          N
          N
        
      
      
        Teck Resources Ltd
        T8KI5SQ2JRWHL7XY0E11
        Teck Resources Ltd
        878742204
        
          
        
        701000.00000000
        NS
        USD
        28313390.00000000
        1.535049367581
        Long
        EC
        CORP
        CA
        N
        
        1
        
          N
          N
          N
        
      
      
        JPMorgan Chase Bank N.A.
        7H6GLXDRUGQFU57RNE97
        PURCHASED USD / SOLD CNH
        000000000
        
          
        
        1.00000000
        NC
        
        -20975.17000000
        -0.00113719768
        N/A
        DFE
        
        US
        N
        
        2
        
          
            
              JPMorgan Chase Bank N.A.
              7H6GLXDRUGQFU57RNE97
            
            17500000.00000000
            CNY
            2700825.68000000
            USD
            2023-03-22
            -20975.17000000
          
        
        
          N
          N
          N
        
      
      
        Booking Holdings Inc
        FXM8FAOHMYDIPD38UZ17
        Booking Holdings Inc
        09857L108
        
          
        
        7600.00000000
        NS
        USD
        17848220.00000000
        0.967665787228
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        JPMorgan Chase Bank N.A.
        7H6GLXDRUGQFU57RNE97
        PURCHASED USD / SOLD CNH
        000000000
        
          
        
        1.00000000
        NC
        
        -407799.83000000
        -0.02210942847
        N/A
        DFE
        
        US
        N
        
        2
        
          
            
              JPMorgan Chase Bank N.A.
              7H6GLXDRUGQFU57RNE97
            
            219778702.00000000
            CNY
            33958915.00000000
            USD
            2022-08-10
            -407799.83000000
          
        
        
          N
          N
          N
        
      
      
        Entain PLC
        213800GNI3K45LQR8L28
        Entain PLC
        000000000
        
          
        
        559154.00000000
        NS
        
        11993016.60000000
        0.650217884443
        Long
        EC
        CORP
        IM
        
        N
        
        2
        
          N
          N
          N
        
      
      
        Bank of America N.A.
        B4TYDEB6GKMZO031MB27
        PURCHASED USD / SOLD CHF
        000000000
        
          
        
        1.00000000
        NC
        
        -1714.61000000
        -0.00009295993
        N/A
        DFE
        
        US
        N
        
        2
        
          
            
              Bank of America N.A.
              B4TYDEB6GKMZO031MB27
            
            1699830.00000000
            CHF
            1840857.74000000
            USD
            2022-05-18
            -1714.61000000
          
        
        
          N
          N
          N
        
      
      
        Bank of America N.A.
        B4TYDEB6GKMZO031MB27
        PURCHASED USD / SOLD CHF
        000000000
        
          
        
        1.00000000
        NC
        
        -1638.04000000
        -0.00008880859
        N/A
        DFE
        
        US
        N
        
        2
        
          
            
              Bank of America N.A.
              B4TYDEB6GKMZO031MB27
            
            1699832.00000000
            CHF
            1840936.47000000
            USD
            2022-05-18
            -1638.04000000
          
        
        
          N
          N
          N
        
      
      
        ENGIE SA
        N/A
        ENGIE SA
        000000000
        
          
        
        700000.00000000
        NS
        
        9241389.23000000
        0.501034623303
        Long
        EC
        CORP
        FR
        N
        
        2
        
          N
          N
          N
        
      
      
        Schneider Electric SE
        969500A1YF1XUYYXS284
        Schneider Electric SE
        000000000
        
          
        
        98000.00000000
        NS
        
        16361731.58000000
        0.887073773730
        Long
        EC
        CORP
        FR
        
        N
        
        2
        
          N
          N
          N
        
      
      
        Equinor ASA
        OW6OFBNCKXC4US5C7523
        Equinor ASA
        000000000
        
          
        
        425000.00000000
        NS
        
        15947337.25000000
        0.864606815369
        Long
        EC
        CORP
        NO
        N
        
        2
        
          N
          N
          N
        
      
      
        Credit Suisse Group AG
        549300506SI9CRFV9Z86
        Credit Suisse Group AG
        000000000
        
          
        
        3700000.00000000
        NS
        
        29193414.43000000
        1.582761102019
        Long
        EC
        CORP
        CH
        N
        
        2
        
          N
          N
          N
        
      
      
        HSBC Bank USA N.A.
        1IE8VN30JCEQV1H4R804
        PURCHASED USD / SOLD CHF
        000000000
        
          
        
        1.00000000
        NC
        
        1443.66000000
        0.000078270011
        N/A
        DFE
        
        US
        N
        
        2
        
          
            
              HSBC Bank USA N.A.
              1IE8VN30JCEQV1H4R804
            
            1474836.00000000
            CHF
            1597957.85000000
            USD
            2022-04-13
            1443.66000000
          
        
        
          N
          N
          N
        
      
      
        Bank of America N.A.
        B4TYDEB6GKMZO031MB27
        PURCHASED CHF / SOLD USD
        000000000
        
          
        
        1.00000000
        NC
        
        6232.64000000
        0.000337911147
        N/A
        DFE
        
        CH
        N
        
        2
        
          
            
              Bank of America N.A.
              B4TYDEB6GKMZO031MB27
            
            327178.24000000
            USD
            308000.00000000
            CHF
            2022-04-13
            6232.64000000
          
        
        
          N
          N
          N
        
      
      
        Linde PLC
        8945002PAZHZLBGKGF02
        Linde PLC
        000000000
        
          
        
        55000.00000000
        NS
        
        17723252.50000000
        0.960890502394
        Long
        EC
        CORP
        IE
        
        N
        
        2
        
          N
          N
          N
        
      
      
        Bank of America N.A.
        B4TYDEB6GKMZO031MB27
        PURCHASED CHF / SOLD USD
        000000000
        
          
        
        1.00000000
        NC
        
        6055.12000000
        0.000328286656
        N/A
        DFE
        
        CH
        N
        
        2
        
          
            
              Bank of America N.A.
              B4TYDEB6GKMZO031MB27
            
            327355.76000000
            USD
            308000.00000000
            CHF
            2022-04-13
            6055.12000000
          
        
        
          N
          N
          N
        
      
      
        Samsung Electronics Co Ltd
        9884007ER46L6N7EI764
        Samsung Electronics Co Ltd
        000000000
        
          
        
        835000.00000000
        NS
        
        43189397.26000000
        2.341572554546
        Long
        EP
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        Bank of America N.A.
        B4TYDEB6GKMZO031MB27
        PURCHASED USD / SOLD CHF
        000000000
        
          
        
        1.00000000
        NC
        
        -2133.36000000
        -0.00011566304
        N/A
        DFE
        
        US
        N
        
        2
        
          
            
              Bank of America N.A.
              B4TYDEB6GKMZO031MB27
            
            1699832.00000000
            CHF
            1840441.15000000
            USD
            2022-05-18
            -2133.36000000
          
        
        
          N
          N
          N
        
      
      
        HSBC Bank USA N.A.
        1IE8VN30JCEQV1H4R804
        PURCHASED USD / SOLD CHF
        000000000
        
          
        
        1.00000000
        NC
        
        1475.69000000
        0.000080006562
        N/A
        DFE
        
        US
        N
        
        2
        
          
            
              HSBC Bank USA N.A.
              1IE8VN30JCEQV1H4R804
            
            1474834.00000000
            CHF
            1597987.72000000
            USD
            2022-04-13
            1475.69000000
          
        
        
          N
          N
          N
        
      
      
        Standard Chartered Bank
        RILFO74KP1CM8P6PCT96
        PURCHASED USD / SOLD CHF
        000000000
        
          
        
        1.00000000
        NC
        
        -21428.50000000
        -0.00116177559
        N/A
        DFE
        
        US
        N
        
        2
        
          
            
              Standard Chartered Bank
              RILFO74KP1CM8P6PCT96
            
            1642669.00000000
            CHF
            1761574.01000000
            USD
            2022-06-15
            -21428.50000000
          
        
        
          N
          N
          N
        
      
    
    
      
    
    
      2022-04-28
      NORTHWESTERN MUTUAL SERIES FUND INC
      Phillip Rinzel
      Phillip Rinzel
      Controller and Chief Accounting Officer
    
  
  XXXX



International Equity Portfolio

SCHEDULE OF INVESTMENTS

March 31, 2022 (unaudited)

 

Common Stocks (93.3%)   Country    Shares/Par +     

Value

$ (000’s)

 

Communication Services (5.2%)

     

Baidu, Inc., ADR *

  China      200,000        26,460  

Grupo Televisa SA, ADR

  Mexico      1,850,000        21,645  

Liberty Global PLC - Class A *

  United Kingdom      175,000        4,464  

Liberty Global PLC - Class C *

  United Kingdom      327,000        8,473  

Millicom International Cellular, SDR *

  Colombia      220,000        5,560  

NetEase, Inc., ADR

  China      207,000        18,566  

Vodafone Group PLC

  United Kingdom      6,421,300        10,535  
       

 

 

 

Total

          95,703  
       

 

 

 

Consumer Discretionary (9.8%)

 

Alibaba Group Holding, Ltd., ADR *

  China      320,000        34,816  

Booking Holdings, Inc. *

  United States      7,600        17,848  

Entain PLC *

  United Kingdom      570,259        12,231  

Honda Motor Co., Ltd.

  Japan      1,540,000        43,761  

JD.com, Inc., ADR *

  China      425,000        24,595  

Naspers, Ltd. - Class N

  South Africa      103,000        11,661  

Prosus NV *

  China      605,000        32,027  

Yamaha Motor Co., Ltd.

  Japan      180,000        4,034  
       

 

 

 

Total

          180,973  
       

 

 

 

Consumer Staples (4.7%)

       

Anheuser-Busch InBev SA/NVBelgium

     475,000        28,491  

Beiersdorf AG

  Germany      137,000        14,396  

Imperial Brands PLC

  United Kingdom      1,625,000        34,216  

Magnit PJSC Æ

  Russia      135,000         

Seven & i Holdings Co., Ltd.

  Japan      195,000        9,278  
       

 

 

 

Total

          86,381  
       

 

 

 

Energy (7.8%)

       

Equinor ASA

  Norway      395,000        14,822  

Ovintiv, Inc.

  United States      475,500        25,710  

Schlumberger, Ltd.

  United States      145,000        5,990  

Suncor Energy, Inc.

  Canada      1,120,000        36,501  

TC Energy Corp.

  Canada      400,000        22,568  

TotalEnergies SE

  France      755,000        38,308  
       

 

 

 

Total

          143,899  
       

 

 

 

Financials (25.1%)

       

Aegon NV

  Netherlands      2,450,000        12,930  

Aviva PLC

  United Kingdom      5,660,000        33,411  

Axis Bank, Ltd. *

  India      3,900,000        38,763  

Banco Santander SA

  Spain      14,630,000        49,639  

Barclays PLC

  United Kingdom      18,030,000        35,025  

BNP Paribas SA

  France      897,500        51,101  

Credicorp, Ltd.

  Peru      135,000        23,202  

Credit Suisse Group AG

  Switzerland      3,700,000        29,193  

ICICI Bank, Ltd.

  India      4,729,500        45,333  

Mitsubishi UFJ Financial Group, Inc.

  Japan      3,595,000        22,315  

Prudential PLC

  United Kingdom      1,110,900        16,410  

Standard Chartered PLC

  United Kingdom      3,553,865        23,567  

UBS Group AG

  Switzerland      3,500,000        68,380  

XP, Inc. - Class A *

  Brazil      460,000        13,846  
       

 

 

 

Total

          463,115  
       

 

 

 
Common Stocks (93.3%)   Country   Shares/Par +    

Value

$ (000’s)

 

Health Care (18.2%)

     

Bayer AG

  Germany     480,000       32,840  

Fresenius Medical Care AG & Co.

  Germany     360,000       24,142  

GlaxoSmithKline PLC

  United States     3,350,000       72,239  

Novartis AG

  Switzerland     715,000       62,707  

Olympus Corp.

  Japan     725,100       13,776  

Roche Holding AG

  Switzerland     143,000       56,553  

Sanofi

  France     715,000       72,919  
     

 

 

 

Total

        335,176  
     

 

 

 

Industrials (5.8%)

     

Johnson Controls

     

International PLC

  United States     545,000       35,735  

Mitsubishi Electric Corp.

  Japan     3,030,000       34,875  

Nidec Corp.

  Japan     80,000       6,338  

Schneider Electric SE

  United States     98,000       16,362  

Smiths Group PLC

  United Kingdom     765,000       14,501  
     

 

 

 

Total

        107,811  
     

 

 

 

Information Technology (3.4%)

   

Brother Industries, Ltd.

  Japan     385,000       7,011  

Kyocera Corp.

  Japan     335,000       18,830  

Micro Focus International PLC

  United Kingdom     515,000       2,730  

Murata Manufacturing Co., Ltd.

  Japan     205,000       13,551  

TE Connectivity, Ltd.

  Switzerland     162,000       21,219  
     

 

 

 

Total

        63,341  
     

 

 

 

Materials (10.7%)

     

Akzo Nobel NV

  Netherlands     286,000       24,572  

Glencore PLC *

  Australia     4,225,000       27,457  

Holcim, Ltd. *

  Switzerland     830,000       40,522  

Linde PLC

  United Kingdom     55,000       17,723  

Mitsubishi Chemical Holdings Corp.

  Japan     3,667,300       24,402  

Nutrien, Ltd.

  Canada     325,000       33,797  

Teck Resources, Ltd.

  Canada     701,000       28,313  
     

 

 

 

Total

        196,786  
     

 

 

 

Real Estate (2.1%)

     

CK Asset Holdings, Ltd.

  Hong Kong     2,534,900       17,325  

Daito Trust Construction Co., Ltd.

  Japan     126,000       13,369  

Hang Lung Group, Ltd.

  Hong Kong     4,000,000       8,475  
     

 

 

 

Total

        39,169  
     

 

 

 

Utilities (0.5%)

     

Engie SA *

  France     700,000       9,241  
     

 

 

 

Total

        9,241  
     

 

 

 

Total Common Stocks (Cost: $1,789,369)

 

    1,721,595  
     

 

 

 
Preferred Stocks (5.0%)                   

Financials (2.7%)

     

Itau Unibanco Holding SA

  Brazil     8,543,000       49,309  
     

 

 

 

Total

        49,309  
     

 

 

 
 


International Equity Portfolio

 

 

Preferred Stocks (5.0%)   Country   Shares/ Par +    

Value

$ (000’s)

 

Information Technology (2.3%)

   

Samsung Electronics Co., Ltd.

  South Korea     835,000       43,189  
     

 

 

 

Total

        43,189  
     

 

 

 

Total Preferred Stocks (Cost: $83,684)

 

    92,498  
     

 

 

 

Short-Term Investments

(0.9%)

                   

Money Market Funds (0.9%)

   

State Street Institutional U.S. Government Money Market Fund - Premier Class

   

Short-Term Investments

(0.9%)

  Country   Shares/ Par     

Value

$ (000’s)

 

Money Market Funds continued

   

0.250%#

  United States     16,499,977       16,500  
     

 

 

 

Total

        16,500  
     

 

 

 

Total Short-Term Investments (Cost: $16,500)

 

    16,500  
     

 

 

 

Total Investments (99.2%) (Cost: $1,889,553)@

 

    1,830,593  
     

 

 

 

Other Assets, Less Liabilities (0.8%)

 

    13,847  
     

 

 

 

Net Assets (100.0%)

        1,844,440  
     

 

 

 
 

 

Investments by Country of Risk as a Percentage on Net Assets:

  

Switzerland

     15.2%  

United Kingdom

     11.7%  

Japan

     11.3%  

United States

     10.3%  

France

     9.4%  

China

     7.3%  

Canada

     6.6%  

Other

     27.4%  
  

 

 

 

Total

                 99.2%  
  

 

 

 

Over the Counter Derivatives

Forward Foreign Currency Contracts

Type    Counterparty    Currency   

Foreign Principal

Amount

Covered by

Contract (000s)

 

USD Principal

Amount

Covered by

Contract (000’s)

  

Settlement

Date

  

Unrealized

 Appreciation 

(000’s)

 

Unrealized

(Depreciation)

(000’s)

 

Net

Unrealized

Appreciation/

(Depreciation)

(000’s)

Buy  

   Bank of America NA    CHF      4,004       4,330        4/13/22      $ 78     $             —     $ 78  

Buy

   Bank of America, NA    CHF      308       333        4/13/22        6             6  

Buy

   Citibank NA    CHF      308       333        4/13/22        6             6  

Buy

   HSBC Bank USA    CHF      1,232       1,333        4/13/22        24             24  

Buy

   JP Morgan Chase Bank NA    CHF      308       333        4/13/22        6             6  

Sell

   Bank of America NA    CHF      4,425       4,788        4/13/22        π       π       π  

Sell

   Bank of America, NA    CHF      2,950       3,192        4/13/22        π       π       π  

Sell

   HSBC Bank USA    CHF      7,374       7,980        4/13/22        7             7  

Sell

   Bank of America NA    CHF      16,998       18,420        5/18/22              (20     (20

Sell

   HSBC Bank USA    CHF      3,285       3,566        6/15/22              (41     (41

Sell

   Standard Chartered Bank    CHF      4,928       5,349        6/15/22              (64     (64

Buy

   Bank of America NA    CNH      50,100       7,872        4/27/22        18       (15     3  

Buy

   HSBC Bank USA    CNH      104,300       16,389        4/27/22        43       (32     11  

Sell

   Bank of America NA    CNH      219,779       34,536        4/27/22              (296     (296

Sell

   JP Morgan Chase Bank NA    CNH      219,779       34,367        8/10/22              (408     (408

Sell

   Bank of America NA    CNH      36,000       5,610        12/7/22              (78     (78

Sell

   HSBC Bank USA    CNH      219,778       34,251        12/7/22              (570     (570

Sell

   HSBC Bank USA    CNH      28,450       4,431        1/11/23              (31     (31

Sell

   JP Morgan Chase Bank NA    CNH      10,350       1,612        1/11/23              (15     (15

Sell

   Standard Chartered Bank    CNH      18,100       2,819        1/11/23              (15     (15

Sell

   HSBC Bank USA    CNH      36,500       5,682        2/8/23              (30     (30

Sell

   Citibank NA    CNH      20,150       3,134        3/22/23              (16     (16

Sell

   JP Morgan Chase Bank NA    CNH      37,650       5,856        3/22/23              (37     (37

Sell

   Standard Chartered Bank    CNH      17,500       2,722        3/22/23              (21     (21

Sell

   Goldman Sachs Bank USA    CNY      55,000        8,577        1/11/23              (72     (72
                 $         188      $ (1,761   $         (1,573


International Equity Portfolio

 

     Financial Derivative Assets (000’s)             Financial Derivative Liabilities (000’s)          
    

Forward

Foreign

Currency

Contracts

     Swaps    Total     

Forward
Foreign

Currency

Contracts

     Options    Swaps    Total  
  

 

 

 

Total Over the Counter

Derivatives

    $ 188           $ 188          $ (1,761)            $ (1,761)      
  

 

 

 

 

+

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

*

Non income producing

Æ

Security valued using significant unobservable inputs.

#

7-Day yield as of 3/31/2022.

@

At March 31, 2022, the aggregate cost of investments, including derivatives, for federal tax purposes (in thousands) was $1,889,553 and the net unrealized depreciation of investments based on that cost was $60,533 which is comprised of $119,262 aggregate gross unrealized appreciation and $179,795 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.

π

Amount is less than one thousand.


International Equity Portfolio

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 March 31, 2022.

 

         Valuation Inputs                                        
 

 

 
Description       

Level 1 - Quoted

Prices

         

Level 2 - Other

Significant

Observable Inputs

         

Level 3

- Significant   

Unobservable    

Inputs

 

 

 
              (Amounts in thousands)                

Assets:

                

Preferred Stocks

                

All Others

      $ 49,309                      $ 43,189                      $ —      

Common Stocks

                

Communication Services

       79,608           16,095           —      

Consumer Discretionary

       77,259           103,714           —      

Consumer Staples

                 86,381           —      

Energy

       90,769           53,130           —      

Financials

       37,048           426,067           —      

Industrials

       35,735           72,076           —      

Information Technology

       21,219           42,122           —      

Materials

       62,110           134,676           —      

All Others

                 383,586           —      

Short-Term Investments

       16,500                     —      

Other Financial Instruments^

                

Forward Foreign Currency Contracts

                 188           —      
    

 

 

 

Total Assets:

      $ 469,557         $ 1,361,224         $ —      
    

 

 

 

Liabilities:

                

Other Financial Instruments^

                

Forward Foreign Currency Contracts

                 (1,761)           —      
    

 

 

 

Total Liabilities:

      $         $ (1,761)         $ —      
    

 

 

 

^ Other financial instruments are derivative instruments such as futures and forward foreign currency contracts, which are valued at the unrealized appreciation (depreciation) on the instrument, and securities sold short, reverse repurchase agreements, written options and swaps contracts, which are valued at market value.

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 March 31, 2022.

For the period ended March 31, 2022, there was a transfer from Level 2 to Level 3 in the amount of $0 (in thousands). This transfer was the result of the third party vendor not being able to provide a daily price due to the liquidity and current market conditions in Russia.

 


Abbreviations

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.
EXE    Security receives collateral principal and interest paid which exceeds the amount of principal and income obligated to all bonds in the deal.
IO    Interest Only Security
PO    Principal Only Security
GDR    Global Depositary Receipt
GO    General Obligation
RB    Revenue Bond
CPURNSA    U.S. Consumer Price Index - All Urban Consumers - Not Seasonally Adjusted
LIBOR    London Interbank Offered Rate
SOFR    Secured Overnight Financing Rate
ICE    Intercontinental Exchange
SONIO    Sterling Overnight Interbank Average Rate
DAC    Designated Activity Company
TBA    To Be Announced
OIS    Overnight Index Swaps
DIFC    Dubai International Financial Centre
EURIBOR    Euro Interbank Offered Rate
SDR    Swedish Depository Receipt
ETF    Exchange Traded Fund
Currency Abbreviations
ARS    Argentine Peso
AUD    Australian Dollar
BRL    Brazilian Real
CAD    Canadian Dollar
CHF    Swiss Franc
CNH    Chinese Yuan Renminbi - Offshore
CNY    Chinese Yuan Renminbi
DKK    Danish Krone
EUR    Euro
GBP    British Pound
HKD    Hong Kong Dollar
IDR    Indonesian Rupiah
INR    Indian Rupee
JPY    Japanese Yen
KES    Kenyan Shilling
KRW    South Korean Won
MXN    Mexican New Peso
NOK    Norwegian Krone
NZD    New Zealand Dollar
PHP    Philippines Peso
PLN    Polish Zloty
RUB    Russian Ruble
SEK    Swedish Krona
THB    Thai Baht
TWD    Taiwan Dollar
USD    United States Dollar
ZAR    South African Rand


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