Asset Allocation Portfolio
Data updated: 2026-08-20
C000000079 — Asset Allocation Portfolio. United States Multi-Cap / All-Cap Blend / Core Equity · $320.05M AUM. Holdings, fees, performance and SEC filings.
C000000079 Fund Overview
Asset Allocation Portfolio is a US mutual fund managed by Northwestern Mutual Series Fund INC, categorised as United States Multi-Cap / All-Cap Blend / Core Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Northwestern Mutual Series Fund INC
- Category: United States Multi-Cap / All-Cap Blend / Core Equity
- Assets under management: $320.05M
- 1-year return: 17.2%
- SEC CIK: 0000742212
- SEC series ID: S000000044
- Share class ID: C000000079
C000000079 Investment Objective and Strategy
Asset Allocation Portfolio describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Northwestern Mutual Series Fund INC.
Investment objective
The investment objective of the Portfolio is to realize as high a level of total return as is consistent with moderate investment risk through capital appreciation and secondarily through income.
Principal investment strategy
Investing in multiple investment asset classes, the Portfolio attempts to capitalize on the variation in return potential produced by the interaction of changing financial markets and economic conditions while maintaining a balance over time between investment opportunities and their associated potential risks by following a flexible policy of allocating assets. The Portfolio is one of the Northwestern Mutual Series Fund, Inc. Allocation Portfolios (Active/Passive Allocation Suite) and operates primarily as a fund of funds. The Portfolio invests in a combination of both actively managed and passive (i.e., index-tracking) underlying Portfolios of Northwestern Mutual Series Fund, Inc. (each, an Underlying Portfolio) and exchange-traded funds (ETFs) which are not portfolios of Northwestern Mutual Series Fund, Inc.
As a moderate Portfolio, the adviser will allocate the Portfolios assets to a combination of underlying funds that is expected to have a higher level of investment risk relative to a conservative or balanced fund and lower investment risk relative to an aggressive fund. The Portfolio is designed primarily for investors comfortable with volatility associated with seeking the growth potential of equities, but who also seek some income potential from bonds. The Portfolio has a target asset allocation as indicated below: Equity and Other* Exposure Fixed Income or Debt Exposure Cash Equivalents Active/Passive Moderate 60 80% 20 40% 0 10% *Other exposure includes REIT and commodity-related investments. These foregoing percentage target ranges are not intended to establish minimum and maximum limits.
The adviser may deviate from the asset class target ranges in pursuit of total return and in response to changing market and economic conditions, and, may invest a greater or lesser percentage in any strategic asset class component when the adviser deems it favorable to do so in order to achieve the Portfolios investment objective. Equity and Other Exposure : The Portfolio may obtain equity exposure by investing in one or more Underlying Portfolios or ETFs, which may hold a wide range of equity securities including small, mid and large cap U.S. and non-U.S. stocks. Equity securities could include common and preferred stocks, securities convertible into stocks and depositary receipts for those securities. Other exposure includes both real estate investment trusts (REITs) and commodities. The Portfolio may obtain exposure to REITs by investing in ETFs that hold REITs.
The Portfolio may obtain commodity exposure through the purchase of swaps on physical commodities or commodity indices, including those which are traded in over-the-counter markets (OTC), and by investing in ETFs that provide exposure to commodities markets. Fixed Income or Debt Exposure : The Portfolio may obtain fixed income exposure by investing in one or more fixed income Underlying Portfolios or ETFs, which may hold a wide range of fixed income securities with varying durations and maturities. The fixed income securities will consist of investment grade and non-investment grade debt securities (sometimes referred to as high yield securities or junk bonds) of corporate or government issuers as well as mortgage-backed and asset-backed securities, and inflation-indexed debt securities. Investment grade securities generally are securities rated investment grade by at least two of the three credit rating agencies (BBB- or higher by S&P; Baa3 or higher by Moodys; BBB- or higher by Fitch) and non-investment grade securities generally are securities rated below investment grade by at least two of the three credit ratings agencies (BB+ or lower by S&P; Ba1 or lower by Moodys; BB+ or lower by Fitch).
Cash Equivalents : The cash equivalent portion of the Portfolio may include, but is not limited to, investments in Underlying Portfolios or ETFs that hold debt securities issued or guaranteed by the U.S. government or its agencies or instrumentalities as well as commercial paper, bankers acceptances, certificates of deposit and time deposits. In order to enhance short duration returns, the adviser may purchase ultra-short bond ETFs. The adviser considers a number of factors when making purchase and sales decisions with respect to the Underlying Portfolios and ETFs. With respect to the equity Underlying Portfolios and ETFs, the adviser considers their investment focus on small, mid or large market capitalizations, domestic or foreign investments, whether the Underlying Portfolio or ETF is diversified or non-diversified and whether it employs a particular style of investing, among other characteristics.
With respect to fixed income Underlying Portfolios and ETFs, the adviser considers their focus on investment grade or non-investment grade securities, domestic or foreign investments, whether the issuer is a government or government agency, the duration (that is, a measure of the sensitivity to changes in interest rates) and maturity of the securities, and other characteristics. The adviser regularly reviews and adjusts the allocation among the Underlying Portfolios and ETFs to favor investments in those Underlying Portfolios and ETFs that the adviser believes provide the most favorable position for achieving the Portfolios investment objective. In connection with the allocation process, the Portfolio may invest more than 25% of its assets in one Underlying Portfolio or one ETF. An Underlying Portfolio or ETF may invest a large percentage of its assets in a single issuer, security, market or sector (or a limited group thereof) or in the case of an international Underlying Portfolio or ETF, may invest in emerging markets, a small number of countries or a particular geographic region.
C000000079 Holdings
Top 10 holdings of Asset Allocation Portfolio by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Northwestern Mutual Series Fund, Inc. - Select Bond Portfolio | 17.48% |
| iShares Core S&P 500 ETF | 9.20% |
| iShares Core U.S. Aggregate Bond ETF | 7.57% |
| Northwestern Mutual Series Fund, Inc. - International Equity Portfolio | 6.24% |
| State Street SPDR Portfolio S&P 400 Mid Cap ETF | 4.86% |
| Northwestern Mutual Series Fund, Inc. - Multi-Sector Bond Portfolio | 4.80% |
| Northwestern Mutual Series Fund, Inc. - Large Cap Blend Portfolio | 3.82% |
| Northwestern Mutual Series Fund, Inc. - Domestic Equity Portfolio | 3.77% |
| Northwestern Mutual Series Fund, Inc. - Focused Appreciation Portfolio | 3.66% |
| Northwestern Mutual Series Fund, Inc. - International Growth Portfolio | 3.60% |
C000000079 Portfolio Allocation
Asset-class allocation of Asset Allocation Portfolio by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 97.0% |
| Fixed Income | 0.7% |
| Cash & Equivalents | 0.7% |
C000000079 Performance
Total returns for C000000079 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 9.0% |
| 1 year | 17.2% |
| 3 years (annualised) | 13.2% |
| 5 years (annualised) | 6.7% |
C000000079 Risk Information
Risk metrics for C000000079, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 8.4%
C000000079 Costs and Fees
C000000079 costs about $49 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.49%
- Gross expense ratio: 0.54%
- Portfolio turnover: 22%
- Brokerage commissions: 0.27 bps of average net assets (SEC N-CEN)
C000000079 Cashflows
Over the 12 months to 2026-06, Asset Allocation Portfolio had net inflows of $4.99M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | $61.02K |
| 2026-05 | −$1.62M |
| 2026-04 | $267.39K |
| 2026-03 | −$1.72M |
| 2026-02 | $241.79K |
| 2026-01 | −$2.64M |
C000000079 Debt Constituents
Largest debt holdings of Asset Allocation Portfolio by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| United States Treasury | 0.72% |
C000000079 Prospectus and SEC Filings
Official Asset Allocation Portfolio filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-04-24
- Prospectus (485BPOS) — filed 2025-04-25
- Prospectus supplement (497) — filed 2024-04-30
- Portfolio holdings (N-PORT) — filed 2026-08-20
- Portfolio holdings (N-PORT) — filed 2026-05-27
- Portfolio holdings (N-PORT) — filed 2026-02-23
- Annual census (N-CEN) — filed 2026-03-12
- Annual census (N-CEN) — filed 2025-03-11
Related Funds
Other United States Multi-Cap / All-Cap Blend / Core Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.