Active/Passive Balanced Portfolio
NORTHWESTERN MUTUAL SERIES FUND INC
Fund classification
Classified from what the fund holds · as of 2026 Q2
Active/Passive Balanced Portfolio is an actively managed U.S. equity fund.
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Features
- Non-diversified · Fund of funds
Fund profile
As filed in the prospectus · 2026 Q2
The investment objective of the Portfolio is to realize as high a level of total return as is consistent with reasonable investment risk through appreciation and income.
The fund operates as a fund of funds, investing in a combination of actively managed and passive underlying portfolios and exchange-traded funds to allocate assets across equities, fixed income, and cash equivalents according to a balanced target allocation. The adviser adjusts allocations among underlying funds in response to changing market conditions and may concentrate more than 25% of assets in a single underlying fund or ETF. Because underlying portfolios or ETFs may themselves be non-diversified or invest heavily in single issuers, sectors, or geographic regions, the fund's returns depend on the adviser's selection and weighting of those underlying vehicles.
| Share class | Gross | Net |
|---|---|---|
| C000000080 | 0.49% | 0.44% |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 16.00% · as of 2026 Q2
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Stocks | 43.73% |
| Bonds | 35.87% |
| Securitized | 17.39% |
| Cash & short-term | 2.17% |
| 2 smaller | 0.45% |
| Derivatives | -0.04% |
Look-through blends 28 underlying funds; 0.0% of NAV was not looked through and stays direct-classified.
The outer band is exposure held short — written against the portfolio rather than part of it, which is why it sits outside the ring and why the two are never netted into one figure.
Latest quarter
What changed since the fund's previous filing
Largest new: Avantis US Large Cap Value ETF, United States Treasury ×2, iShares Core MSCI Emerging Markets ETF, Citibank NA
Largest exited: iShares MSCI USA Value Factor ETF, United States Treasury ×2, Citibank NA
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
May 2026 and Jun 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-06-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 100.0% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 100.0% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Reported price | Value | Shares |
|---|---|---|---|---|---|
| — | Northwestern Mutual Series Fund, Inc. - Select Bond Portfolio | 24.68% | $1.12 | $499.45M | 446.3M |
| — | iShares Core U.S. Aggregate Bond ETF | 13.68% | $98.98 | $276.90M | 2.8M |
| — | Northwestern Mutual Series Fund, Inc. - Multi-Sector Bond Portfolio | 7.49% | $1.05 | $151.53M | 144.7M |
| — | iShares Core S&P 500 ETF | 5.00% | $748.89 | $101.23M | 135.2K |
| — | State Street SPDR Portfolio Long Term Treasury ETF | 4.82% | $26.23 | $97.46M | 3.7M |
| — | Northwestern Mutual Series Fund, Inc. - International Equity Portfolio | 4.13% | $2.41 | $83.48M | 34.7M |
| — | State Street SPDR Portfolio S&P 400 Mid Cap ETF | 3.54% | $67.56 | $71.70M | 1.1M |
| — | Northwestern Mutual Series Fund, Inc. - Emerging Markets Equity Portfolio | 3.20% | $1.66 | $64.71M | 39.0M |
| — | State Street SPDR Portfolio S&P 600 Small Cap ETF | 3.06% | $57.67 | $61.82M | 1.1M |
| — | Northwestern Mutual Series Fund, Inc. - International Growth Portfolio | 2.55% | $2.47 | $51.59M | 20.9M |
Reported price is the fund's own reported value divided by its own reported shares at 2026-06-30 — not a live quote, and not what the fund paid.
Top 10 positions are 72.14% of net assets, top 25 96.35%, across 30 issuers.
See more of this fund's book
More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.
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