GROWTH STOCK FUND

Fund Overview

Adviser:

Mason Street Advisors, LLC

Subadviser:

Mellon Investments Corporation

Objective/Focus:

Invests in a diversified mix of equity securities of well established medium and large capitalization companies with above average earnings growth potential. The objective is long-term capital growth. Current income is a secondary objective.

Asset Class:

Large-Cap Stocks

Style:

Growth

Fund Facts as of 12/31/18

Fund Inception

05-03-1994

First Available for Variable Annuity

05-03-1994

First Available for Variable Life

05-03-1994

Net Assets

$898.6 Million

Top 10 Portfolio Holdings % of Net Assets

Alphabet, Inc., Various

7.6%

Amazon.com, Inc.

6.5%

Microsoft Corp.

5.2%

Apple, Inc.

4.5%

UnitedHealth Group, Inc.

3.6%

Visa, Inc. - Class A

3.2%

Verizon Communications, Inc.

2.2%

Union Pacific Corp.

2.0%

O'Reilly Automotive, Inc.

2.0%

Honeywell International, Inc.

2.0%

Total % of Net Assets

38.8%

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Disclosed Holdings

Sector Weightings % of Equities

Information Technology

31.2%

Health Care

16.6%

Consumer Discretionary

13.8%

Communication Services

12.6%

Industrials

11.3%

Before investing in a variable product, you should carefully consider the objectives, risks and charges associated with its investment options. For this and other information about a Contract, you should obtain the appropriate Contract and underlying fund prospectuses by contacting your Northwestern Mutual Financial Representative. Read the prospectuses carefully before you invest.

Mason Street Advisors, LLC (MSA) is the principal investment adviser for all the Portfolios in the Northwestern Mutual Series Fund (Series Fund). (Portfolios in the Series Fund are identified by the parenthetical next to the portfolio name.) MSA has engaged and oversees sub-advisers who provide day-to-day management for certain of the Series Fund Portfolios. Each sub-adviser may be replaced without the approval of shareholders. Please see the prospectus for more information. Additional fund options are advised by Russell Investments, Fidelity Investments, Neuberger Berman Investment Advisers LLC and Credit Suisse Asset Management, LLC

All securities are offered through Northwestern Mutual Investment Services LLC, (NMIS), 720 E. Wisconsin Avenue, Milwaukee, WI 53202, 1-866-664-7737. Member FINRA and SIPC. NMIS is a subsidiary of Northwestern Mutual.