LARGE COMPANY VALUE

Fund Overview

Adviser:

Mason Street Advisors, LLC

Subadviser:

American Century Investment Management, Inc.

Objective/Focus:

Invests primarily in larger companies believed to be undervalued at the time of purchase. The objective is to seek long-term capital growth. Income is a secondary objective.

Asset Class:

Large-Cap Stocks

Style:

Value

Fund Facts as of 03/31/18

Fund Inception

04-30-2007

First Available for Variable Annuity

04-30-2007

First Available for Variable Life

06-30-2011

Net Assets

$191.1 Million

Top 10 Portfolio Holdings % of Net Assets

Schlumberger, Ltd.

3.6%

Pfizer, Inc.

3.1%

Johnson & Johnson

3.0%

Total SA, ADR

2.9%

Verizon Communications, Inc.

2.9%

The Procter & Gamble Co.

2.9%

Medtronic PLC

2.9%

U.S. Bancorp

2.7%

Bank of America Corp.

2.5%

BB&T Corp.

2.5%

Total % of Net Assets

29.0%

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Disclosed Holdings

Sector Weightings % of Equities

Financials

23.7%

Health Care

19.5%

Energy

15.4%

Consumer Staples

12.8%

Information Technology

7.8%

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), Suite 600, 611 E. Wisconsin Avenue, Milwaukee, WI 53202, 1-866-664-7737. Member FINRA and SIPC. NMIS is a subsidiary of Northwestern Mutual.