SMALL CAP GROWTH STOCK FUND

Fund Overview

Adviser:

Mason Street Advisors, LLC

Subadviser:

Wellington Management Company LLP

Objective/Focus:

Invests primarily in stocks of small capitalization and microcap U.S. companies selected for their above-average growth potential. The objective is long-term capital growth.

Asset Class:

Small-Cap Stocks

Style:

Growth

Investing in small company stocks involves a greater degree of risk than investing in medium or large company stocks.

Fund Facts as of 09/30/18

Fund Inception

04-30-1999

First Available for Variable Annuity

04-30-1999

First Available for Variable Life

04-30-1999

Net Assets

$671.2 Million

Top 10 Portfolio Holdings % of Net Assets

John Bean Technologies Corp.

1.2%

Wolverine World Wide, Inc.

1.2%

Omnicell, Inc.

1.2%

Globus Medical, Inc. - Class A

1.1%

Steven Madden, Ltd.

1.1%

Wingstop, Inc.

1.1%

Insulet Corp.

1.1%

Etsy, Inc.

1.1%

Merit Medical Systems, Inc.

1.0%

Loxo Oncology, Inc.

1.0%

Total % of Net Assets

11.1%

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Disclosed Holdings

Sector Weightings % of Equities

Health Care

27.4%

Information Technology

19.1%

Industrials

17.0%

Consumer Discretionary

14.1%

Financials

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