Form NPORT-P NORTHWESTERN MUTUAL SERI For: Mar 31

May 24, 2022 1:40 PM EDT

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      NORTHWESTERN MUTUAL SERIES FUND INC
      811-03990
      0000742212
      549300T1UBX7MDSNZA55
      720 E WISCONSIN AVE
      MILWAUKEE
      
      53202
      414-271-1444
      Domestic Equity Portfolio
      S000000041
      5493004TKKI7X6F71K84
      2022-12-31
      2022-03-31
      N
    
    
      1081065910.56
      2843646.38
      1078222264.18
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      N
      
        
          
        
        
        
        
      
      
      
      
      
    
    
      
        Honeywell International Inc
        ISRPG12PN4EIEOEMW547
        Honeywell International Inc
        438516106
        
          
        
        157160.00000000
        NS
        USD
        30580192.80000000
        2.836167812139
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Discover Financial Services
        Z1YLO2USPORE63VVUL20
        Discover Financial Services
        254709108
        
          
        
        278613.00000000
        NS
        USD
        30700366.47000000
        2.847313349937
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Cisco Systems Inc
        549300LKFJ962MZ46593
        Cisco Systems Inc
        17275R102
        
          
        
        573500.00000000
        NS
        USD
        31978360.00000000
        2.965841187143
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Dollar General Corp
        OPX52SQVOZI8IVSWYU66
        Dollar General Corp
        256677105
        
          
        
        144440.00000000
        NS
        USD
        32156677.20000000
        2.982379261520
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Equity Residential
        5493008RACSH5EP3PI59
        Equity Residential
        29476L107
        
          
        
        378195.00000000
        NS
        USD
        34007294.40000000
        3.154015227636
        Long
        EC
        
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Viatris Inc
        254900ZZTSW7NL773X71
        Viatris Inc
        92556V106
        
          
        
        1415529.00000000
        NS
        USD
        15400955.52000000
        1.428365563542
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Johnson & Johnson
        549300G0CFPGEF6X2043
        Johnson & Johnson
        478160104
        
          
        
        180700.00000000
        NS
        USD
        32025461.00000000
        2.970209581449
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Cognizant Technology Solutions Corp
        5493006IEVQEFQO40L83
        Cognizant Technology Solutions Corp
        192446102
        
          
        
        417118.00000000
        NS
        USD
        37402971.06000000
        3.468948129024
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Comcast Corp
        51M0QTTNCGUN7KFCFZ59
        Comcast Corp
        20030N101
        
          
        
        598111.00000000
        NS
        USD
        28003557.02000000
        2.597197066905
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Truist Financial Corp
        549300DRQQI75D2JP341
        Truist Financial Corp
        89832Q109
        
          
        
        524300.00000000
        NS
        USD
        29727810.00000000
        2.757113351077
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Archer-Daniels-Midland Co
        549300LO13MQ9HYSTR83
        Archer-Daniels-Midland Co
        039483102
        
          
        
        442900.00000000
        NS
        USD
        39976154.00000000
        3.707598639729
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        State Street Global Advisors
        549300BZ5TGIFZUZDZ37
        State Street Institutional US Government Money Market Fund
        857492706
        
          
        
        11261334.94000000
        NS
        USD
        11261334.94000000
        1.044435392786
        Long
        STIV
        RF
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Edison International
        549300I7ROF15MAEVP56
        Edison International
        281020107
        
          
        
        485700.00000000
        NS
        USD
        34047570.00000000
        3.157750598471
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Dollar Tree Inc
        549300PMSTQITB1WHR43
        Dollar Tree Inc
        256746108
        
          
        
        242800.00000000
        NS
        USD
        38884420.00000000
        3.606345490330
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Cigna Corp
        549300VIWYMSIGT1U456
        Cigna Corp
        125523100
        
          
        
        136803.00000000
        NS
        USD
        32779366.83000000
        3.040130770711
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        CVS Health Corp
        549300EJG376EN5NQE29
        CVS Health Corp
        126650100
        
          
        
        346500.00000000
        NS
        USD
        35069265.00000000
        3.252507962880
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        DuPont de Nemours Inc
        5493004JF0SDFLM8GD76
        DuPont de Nemours Inc
        26614N102
        
          
        
        427484.00000000
        NS
        USD
        31454272.72000000
        2.917234578152
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Walt Disney Co/The
        549300GZKULIZ0WOW665
        Walt Disney Co/The
        254687106
        
          
        
        216136.00000000
        NS
        USD
        29645213.76000000
        2.749452941647
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        TJX Cos Inc/The
        V167QI9I69W364E2DY52
        TJX Cos Inc/The
        872540109
        
          
        
        438500.00000000
        NS
        USD
        26564330.00000000
        2.463715588381
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Broadcom Inc
        549300WV6GIDOZJTV909
        Broadcom Inc
        11135F101
        
          
        
        53000.00000000
        NS
        USD
        33373040.00000000
        3.095191140889
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        US Bancorp
        N1GZ7BBF3NP8GI976H15
        US Bancorp
        902973304
        
          
        
        577100.00000000
        NS
        USD
        30672865.00000000
        2.844762719060
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Conagra Brands Inc
        54930035UDEIH090K650
        Conagra Brands Inc
        205887102
        
          
        
        968233.00000000
        NS
        USD
        32503581.81000000
        3.014553018409
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Fidelity National Information Services Inc
        6WQI0GK1PRFVBA061U48
        Fidelity National Information Services Inc
        31620M106
        
          
        
        279427.00000000
        NS
        USD
        28060059.34000000
        2.602437389042
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        MetLife Inc
        C4BXATY60WC6XEOZDX54
        MetLife Inc
        59156R108
        
          
        
        488532.00000000
        NS
        USD
        34334028.96000000
        3.184318308072
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Verizon Communications Inc
        2S72QS2UO2OESLG6Y829
        Verizon Communications Inc
        92343V104
        
          
        
        576800.00000000
        NS
        USD
        29382192.00000000
        2.725058921162
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Oracle Corp
        1Z4GXXU7ZHVWFCD8TV52
        Oracle Corp
        68389X105
        
          
        
        387700.00000000
        NS
        USD
        32074421.00000000
        2.974750389187
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Raytheon Technologies Corp
        I07WOS4YJ0N7YRFE7309
        Raytheon Technologies Corp
        75513E101
        
          
        
        353779.00000000
        NS
        USD
        35048885.53000000
        3.250617863716
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Dover Corp
        549300FMC2ALGA7N9E80
        Dover Corp
        260003108
        
          
        
        193642.00000000
        NS
        USD
        30382429.80000000
        2.817826232062
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Northrop Grumman Corp
        RIMU48P07456QXSO0R61
        Northrop Grumman Corp
        666807102
        
          
        
        84700.00000000
        NS
        USD
        37879534.00000000
        3.513147080932
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Merck & Co Inc
        4YV9Y5M8S0BRK1RP0397
        Merck & Co Inc
        58933Y105
        
          
        
        409500.00000000
        NS
        USD
        33599475.00000000
        3.116191912949
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Motorola Solutions Inc
        6S552MUG6KGJVEBSEC55
        Motorola Solutions Inc
        620076307
        
          
        
        125900.00000000
        NS
        USD
        30492980.00000000
        2.828079238670
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Hologic Inc
        549300DYP6F5ZJL0LB74
        Hologic Inc
        436440101
        
          
        
        118691.00000000
        NS
        USD
        9117842.62000000
        0.845636648667
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Baxter International Inc
        J5OIVXX3P24RJRW5CK77
        Baxter International Inc
        071813109
        
          
        
        382100.00000000
        NS
        USD
        29628034.00000000
        2.747859600407
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        American International Group Inc
        ODVCVCQG2BP6VHV36M30
        American International Group Inc
        026874784
        
          
        
        534100.00000000
        NS
        USD
        33525457.00000000
        3.109327094585
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        State Street Global Advisors
        549300BZ5TGIFZUZDZ37
        State Street Institutional US Government Money Market Fund
        857492706
        
          
        
        370271.37000000
        NS
        USD
        370271.37000000
        0.034340913028
        Long
        STIV
        RF
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        ConocoPhillips
        WPTL2Z3FIYTHSP5V2253
        ConocoPhillips
        20825C104
        
          
        
        367400.00000000
        NS
        USD
        36740000.00000000
        3.407460708292
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
    
    
      
    
    
      2022-04-27
      NORTHWESTERN MUTUAL SERIES FUND INC
      Phillip Rinzel
      Phillip Rinzel
      Controller and Chief Accounting Officer
    
  
  XXXX



Domestic Equity Portfolio

SCHEDULE OF INVESTMENTS

March 31, 2022 (unaudited)

 

Common Stocks
(99.0%)
   Shares/
Par +
    

Value

$ (000’s)

 

Communication Services (8.1%)

 

Comcast Corp. - Class A

     598,111        28,004  

Verizon Communications, Inc.

     576,800        29,382  

The Walt Disney Co. *

     216,136        29,645  
     

 

 

 

Total

 

     87,031  
     

 

 

 

Consumer Discretionary (9.0%)

 

Dollar General Corp.

     144,440        32,157  

Dollar Tree, Inc. *

     231,900        37,139  

The TJX Cos., Inc.

     438,500        26,564  
     

 

 

 

Total

 

     95,860  
     

 

 

 

Consumer Staples (6.4%)

 

Archer-Daniels-Midland Co.

     398,000        35,923  

Conagra Brands, Inc.

     968,233        32,504  
     

 

 

 

Total

 

     68,427  
     

 

 

 

Energy (3.4%)

 

ConocoPhillips

     367,400        36,740  
     

 

 

 

Total

 

     36,740  
     

 

 

 

Financials (14.9%)

 

American International Group, Inc.

     534,100        33,525  

Discover Financial Services

     278,613        30,700  

MetLife, Inc.

     488,532        34,334  

Truist Financial Corp.

     524,300        29,728  

U.S. Bancorp

     577,100        30,673  
     

 

 

 

Total

 

     158,960  
     

 

 

 

Health Care (17.5%)

 

Baxter International, Inc.

     382,100        29,628  

Cigna Corp.

     136,803        32,779  

CVS Health Corp.

     346,500        35,069  

Hologic, Inc. *

     121,641        9,345  

Johnson & Johnson

     180,700        32,025  

Merck & Co., Inc.

     409,500        33,600  

Viatris, Inc.

     1,346,769        14,653  
     

 

 

 

Total

 

     187,099  
     

 

 

 

Industrials (12.3%)

 

Dover Corp.

     193,642        30,383  

Honeywell International, Inc.

     157,160        30,580  

Northrop Grumman Corp.

     82,000        36,672  
Common Stocks
(99.0%)
  

Shares/

Par +

    

Value

$ (000’s)

 

Industrials continued

 

  

Raytheon Technologies Corp.

     344,879        34,167  
     

 

 

 

Total

        131,802  
     

 

 

 

Information Technology (18.1%)

 

Broadcom, Inc.

     53,000        33,373  

Cisco Systems, Inc.

     573,500        31,978  

Cognizant Technology Solutions Corp. - Class A

     417,118        37,403  

Fidelity National Information Services, Inc.

     279,427        28,060  

Motorola Solutions, Inc.

     125,900        30,493  

Oracle Corp.

     387,700        32,075  
     

 

 

 

Total

        193,382  
     

 

 

 

Materials (2.9%)

 

  

DuPont de Nemours, Inc.

     427,484        31,454  
     

 

 

 

Total

        31,454  
     

 

 

 

Real Estate (3.2%)

 

  

Equity Residential

     378,195        34,007  
     

 

 

 

Total

        34,007  
     

 

 

 

Utilities (3.2%)

 

  

Edison International

     485,700        34,048  
     

 

 

 

Total

        34,048  
     

 

 

 

Total Common Stocks
(Cost: $772,591)

 

     1,058,810  
     

 

 

 

Short-Term

Investments (1.1%)

               

Money Market Funds (1.1%)

 

  

State Street
Institutional U.S. Government Money Market Fund - Premier Class 0.250% #

     11,631,606        11,632  
     

 

 

 

Total

        11,632  
     

 

 

 

Total Short-Term Investments
(Cost: $11,632)

 

     11,632  
     

 

 

 

 

Short-Term
Investments (1.1%)
  

Shares/

Par +

  

Value

$ (000’s)

 

Money Market Funds continued

 

Total Investments (100.1%)
(Cost: $784,223)@

     1,070,442  
     

 

 

 

Other Assets, Less
Liabilities (-0.1%)

     (575)  
     

 

 

 

Net Assets (100.0%)

     1,069,867  
     

 

 

 
 


Domestic Equity Portfolio

 

+

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

*

Non income producing

#

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 $784,223 and the net unrealized appreciation of investments based on that cost was $286,219 which is comprised of $310,295 aggregate gross unrealized appreciation and $24,076 aggregate gross unrealized depreciation. Because tax adjustments are calculated annually, these amounts do not reflect tax adjustments. For the previous fiscal year’s federal income tax information, please refer to the Notes to the Financial Statements section in the Portfolio’s most recent annual report.

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

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

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

Level 3 - fair value is determined by significant unobservable inputs

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

The following is a summary of the inputs used in valuing the Portfolio’s Investments at 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:

           

Common Stocks

        $ 1,058,810      $      $ —      

Short-Term Investments

        11,632               —      
     

 

 

      

Total Assets:

        $ 1,070,442      $      $ —           
     

 

 

      


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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