International Equity Portfolio
NORTHWESTERN MUTUAL SERIES FUND INC
Fund classification
Classified from what the fund holds · as of 2026 Q2
International Equity Portfolio is an actively managed developed international equity fund.
- Asset class
- Equity
- Region
- Developed international
- Management
- Actively managed
- Fund type
- Open-end fund
Fund profile
As filed in the prospectus · 2026 Q2
The investment objective of the Portfolio is long-term growth of capital and income.
The fund invests at least 80% of assets in equity securities of issuers from at least three different countries outside the U.S., typically medium-to-large capitalization companies that appear temporarily undervalued with favorable long-term growth prospects. The adviser evaluates companies based on financial fundamentals including earnings, cash flow, and dividends, alongside financial strength, competitive position, management quality, and material ESG factors, while also assessing the political and economic stability of each issuer's home country. Emerging market investments are normally limited to 30% of net assets. The fund may use currency forward contracts to hedge foreign currency exposure.
| Share class | Expense ratio |
|---|---|
| C000000087 | 0.68% |
Portfolio turnover 16.00% · as of 2026 Q2
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Stocks | 98.95% |
| Derivatives | -0.01% |
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.
Derivatives are shown at market value, not notional exposure.
Sector allocation
The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2
| International | 78.1% |
| Financials | 10.6% |
| Consumer Discretionary | 3.4% |
| Health Care | 2.9% |
| 6 smaller | 5.0% |
Government, Securitized and Cash are non-corporate buckets; International is foreign holdings we don’t sector-classify, and Other is the residual (held funds, unresolved names).
Latest quarter
What changed since the fund's previous filing
New: RELX PLC, State Street Bank & Trust Co., Bank of America NA
Largest exited: Holcim AG, Liberty Global Ltd, JPMorgan Chase Bank NA ×2, Citibank NA, Wells Fargo Bank NA, Bank of America 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.
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 |
|---|---|---|---|---|---|
| — | Taiwan Semiconductor Manufacturing Co Ltd | 4.77% | $76.79 | $121.82M | 1.6M |
| — | BNP Paribas SA | 3.61% | $116.88 | $92.26M | 789.4K |
| — | Johnson Controls International plc | 3.50% | $146.11 | $89.46M | 612.3K |
| — | Infineon Technologies AG | 3.03% | $93.36 | $77.51M | 830.3K |
| — | SK hynix Inc | 2.94% | $1,764.32 | $75.16M | 42.6K |
| — | Banco Santander SA | 2.94% | $13.83 | $75.06M | 5.4M |
| — | Barclays PLC | 2.70% | $6.72 | $68.95M | 10.3M |
| — | GSK PLC | 2.45% | $26.24 | $62.54M | 2.4M |
| — | UBS Group AG | 2.36% | $49.54 | $60.20M | 1.2M |
| — | Itau Unibanco Holding SA | 2.25% | $8.17 | $57.53M | 7.0M |
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 30.55% of net assets, top 25 54.76%, across 92 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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