CIK: 0001629649
Total reported value
$6.6B
Reporting period: 2026-03-31 · Number of holdings: 874
NORTHWESTERN MUTUAL INVESTMENT MANAGEMENT COMPANY, LLC disclosed 874 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $6.6B and a quarterly turnover rate of 34.1%.
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Northwestern Mutual Investment Management Company, LLC's disclosed holdings carry a Herfindahl concentration index of 0.067 — mathematically equivalent to about 15 equally-sized positions, well below its 874 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 7.59), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 37% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Trim HYG
-89.5% -$422.4M
Trim USHY
-89.5% -$250.5M
Trim VOO
-40.5% -$250.1M
Add LQD
+6.2% $17.9M
Add IJR
-15.6% -$95.2M
Trim EFA
-28.3% -$414.7M
Showing top 200 holdings (of 874 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | EFA | Ishares Msci Eafe ETF | ETF-Other | 16.62% | -1.01% | -28.26% | |
| 2 | IVV | Ishares Core S&p 500 ETF | ETF-Large Cap & Growth | 11.88% | -0.14% | -20.26% | |
| 3 | IJR | Ishares Core S&p Small-cap E | ETF-Small Cap | 9.92% | +1.17% | -15.60% | |
| 4 | IJH | Ishares Core S&p Midcap ETF | ETF-Other | 8.77% | +0.15% | -23.51% | |
| 5 | LQD | Ishr Ibx Usd Invgd Cb Etf-ui | ETF-Corp Bonds | 5.69% | +1.52% | +6.15% | |
| 6 | VOO | Vanguard S&p 500 ETF | ETF-Large Cap & Growth | 4.96% | -1.78% | -40.51% | |
| 7 | NVDA | Nvidia CORP | Stock-Tech | 2.06% | +0.37% | +0.14% | |
| 8 | AAPL | Apple INC | Stock-Tech | 1.81% | +0.31% | -0.50% | |
| 9 | VCLT | Vanguard Long-term CORP Bond | ETF-Corp Bonds | 1.51% | +0.39% | +5.51% | |
| 10 | IGV | Ishares Expanded Tech-softwa | ETF-Tech | 1.38% | +1.38% | NEW | |
| 11 | MSFT | Microsoft CORP | Stock-Tech | 1.33% | -0.01% | +0.05% | |
| 12 | AMZN | Amazon.com INC | Stock-Consumer Disc | 0.99% | +0.15% | +0.56% | |
| 13 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 0.81% | +0.13% | +0.21% | |
| 14 | HYG | Ishr Ibx Usd Hiyld Cb Etf-ui | ETF-High Yield | 0.74% | -4.76% | -89.48% | |
| 15 | AVGO | Broadcom INC | Stock-Tech | 0.71% | +0.10% | +0.54% | |
| 16 | AGG | Ishares Core U.s. Aggregate | ETF-Other | 0.66% | — | -2.14% | |
| 17 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 0.65% | +0.11% | +0.72% | |
| 18 | META | Meta Platforms Inc-class A | Stock-Comm Services | 0.61% | +0.07% | +0.57% | |
| 19 | MINT | Pimco Enhanced Short Maturit | ETF-Other | 0.52% | +0.52% | NEW | |
| 20 | TSLA | Tesla INC | Stock-Consumer Disc | 0.51% | +0.04% | +0.23% | |
| 21 | USHY | Ishares Broad Usd High Yield | ETF-High Yield | 0.44% | -2.82% | -89.52% | |
| 22 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.43% | — | +0.15% | |
| 23 | JPM | Jpmorgan Chase & Co | Stock-Financials | 0.38% | +0.05% | -0.82% | |
| 24 | LLY | Eli Lilly & Co | Stock-Healthcare | 0.35% | +0.03% | -0.07% | |
| 25 | XOM | Exxon Mobil CORP | Stock-Energy | 0.34% | +0.15% | -0.76% | |
| 26 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.29% | +0.10% | +0.17% | |
| 27 | WMT | Walmart INC | Stock-Consumer Staples | 0.26% | — | +0.11% | |
| 28 | V | Visa Inc-class A Shares | Stock-Financials | 0.25% | +0.03% | -0.24% | |
| 29 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 0.21% | — | +0.30% | |
| 30 | MA | Mastercard INC - A | Stock-Financials | 0.20% | — | -0.53% | |
| 31 | NFLX | Netflix INC | Stock-Comm Services | 0.20% | — | -0.21% | |
| 32 | CVX | Chevron CORP | Stock-Energy | 0.19% | +0.08% | -0.82% | |
| 33 | ABBV | Abbvie INC | Stock-Healthcare | 0.19% | — | +0.14% | |
| 34 | MU | Micron Technology INC | Stock-Tech | 0.18% | — | +0.42% | |
| 35 | PG | Procter & Gamble Co/the | Stock-Consumer Staples | 0.16% | — | -0.40% | |
| 36 | PLTR | Palantir Technologies Inc-a | Stock-Tech | 0.16% | +0.01% | +0.14% | |
| 37 | AMD | Advanced Micro Devices | Stock-Tech | 0.16% | — | +0.29% | |
| 38 | CAT | Caterpillar INC | Stock-Industrials | 0.16% | +0.06% | -0.43% | |
| 39 | HD | Home Depot INC | Stock-Consumer Disc | 0.16% | — | +0.16% | |
| 40 | BAC | Bank Of America CORP | Stock-Financials | 0.16% | — | -1.09% | |
| 41 | CSCO | Cisco Systems INC | Stock-Tech | 0.15% | — | +0.41% | |
| 42 | MRK | Merck & Co. INC. | Stock-Healthcare | 0.14% | — | +0.14% | |
| 43 | GE | General Electric | Stock-Industrials | 0.14% | — | -0.43% | |
| 44 | KO | Coca-cola Co/the | Stock-Consumer Staples | 0.14% | — | +0.14% | |
| 45 | FNV | Franco-nevada CORP | Stock-Materials | 0.14% | — | -8.07% | |
| 46 | AMAT | Applied Materials INC | Stock-Tech | 0.13% | +0.05% | -0.22% | |
| 47 | LRCX | Lam Research CORP | Stock-Tech | 0.13% | — | -0.43% | |
| 48 | RTX | Rtx CORP | Stock-Industrials | 0.13% | — | +0.26% | |
| 49 | GS | Goldman Sachs Group INC | Stock-Financials | 0.12% | — | +0.15% | |
| 50 | ORCL | Oracle CORP | Stock-Tech | 0.12% | — | +0.96% |
Performance for Q3 2026
+2.2%
Performance Last 4 Quarters
+5.7%
Based on 50% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 874 | $6.6B | 34 | |
| 2025-12-31 | 877 | $8.6B | 24 | |
| 2025-09-30 | 877 | $6.9B | 20 | |
| 2025-06-30 | 879 | $6.5B | 0 | |
| 2025-03-31 | 877 | $6.3B | 100 | |
| 2024-12-31 | 875 | $4.5B | 0 | |
| 2024-09-30 | 874 | $4.3B | 0 | |
| 2024-06-30 | 876 | $3.9B | 0 | |
| 2024-03-31 | 877 | $3.8B | 0 | |
| 2023-12-31 | 880 | $3.7B | 0 | |
| 2023-09-30 | 879 | $3.6B | 0 | |
| 2023-06-30 | 882 | $3.7B | 0 | |
| 2023-03-31 | 880 | $3.8B | 0 | |
| 2022-12-31 | 883 | $3.8B | 0 | |
| 2022-09-30 | 885 | $3.9B | 0 | |
| 2022-06-30 | 885 | $4.3B | 0 | |
| 2022-03-31 | 897 | $4.4B | 0 | |
| 2021-12-31 | 898 | $5.1B | 0 | |
| 2021-09-30 | 894 | $4.9B | 0 | |
| 2021-06-30 | 900 | $5.7B | 100 | |
| 2021-03-31 | 902 | $5.7B | 30 | |
| 2020-12-31 | 901 | $7.5B | 27 | |
| 2020-09-30 | 919 | $7.2B | 0 | |
| 2020-06-30 | 924 | $7.2B | 30 | |
| 2020-03-31 | 919 | $6.6B | 67 | |
| 2019-12-31 | 916 | $5.6B | 49 | |
| 2019-09-30 | 921 | $4.6B | 17 | |
| 2019-06-30 | 914 | $4.3B | 90 | |
| 2019-03-31 | 908 | $5.5B | 34 | |
| 2018-12-31 | 915 | $6.0B | 37 | |
| 2018-09-30 | 910 | $6.6B | 37 | |
| 2018-06-30 | 914 | $6.7B | 24 | |
| 2018-03-31 | 913 | $6.0B | 39 | |
| 2017-12-31 | 885 | $6.1B | 25 | |
| 2017-09-30 | 893 | $6.1B | 14 | |
| 2017-06-30 | 897 | $5.9B | 21 | |
| 2017-03-31 | 901 | $5.6B | 60 | |
| 2016-12-31 | 899 | $5.1B | 24 | |
| 2016-09-30 | 900 | $4.8B | 89 | |
| 2016-06-30 | 909 | $4.7B | 47 | |
| 2016-03-31 | 907 | $4.6B | 34 | |
| 2015-12-31 | 833 | $4.7B | 24 | |
| 2015-09-30 | 840 | $4.7B | 23 | |
| 2015-06-30 | 862 | $5.0B | 24 | |
| 2015-03-31 | 879 | $4.9B | 0 |
Northwestern Mutual Investment Management Company, LLC's most significant position changes for 2026-03-31: Sold out: Ss Spdr Bb High Yield Bond (JNK); New buy: Ishares Expanded Tech-softwa (IGV); New buy: Pimco Enhanced Short Maturit (MINT); New buy: Oracle CORP (ORCL 6.5 01-15-29 D); Sold out: Pinnacle Financial Partners, Inc. (PNW).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | LQD | Ishr Ibx Usd Invgd Cb Etf-ui | +1.5% | +6.15% | Add |
| 2 | IJR | Ishares Core S&p Small-cap E | +1.2% | -15.60% | Trim |
| 3 | VCLT | Vanguard Long-term CORP Bond | +0.4% | +5.51% | Add |
| 4 | NVDA | Nvidia CORP | +0.4% | +0.14% | Add |
| 5 | AAPL | Apple INC | +0.3% | -0.50% | Trim |
| 6 | IJH | Ishares Core S&p Midcap ETF | +0.2% | -23.51% | Trim |
| 7 | AMZN | Amazon.com INC | +0.2% | +0.56% | Add |
| 8 | XOM | Exxon Mobil CORP | +0.2% | -0.76% | Trim |
| 9 | GOOGL | Alphabet Inc-cl A | +0.1% | +0.21% | Add |
| 10 | GOOG | Alphabet Inc-cl C | +0.1% | +0.72% | Add |
| 11 | AVGO | Broadcom INC | +0.1% | +0.54% | Add |
| 12 | JNJ | Johnson & Johnson | +0.1% | +0.17% | Add |
| 13 | CVX | Chevron CORP | +0.1% | -0.82% | Trim |
| 14 | META | Meta Platforms Inc-class A | +0.1% | +0.57% | Add |
| 15 | CAT | Caterpillar INC | +0.1% | -0.43% | Trim |
| 16 | JPM | Jpmorgan Chase & Co | +0.1% | -0.82% | Trim |
| 17 | AMAT | Applied Materials INC | +0.1% | -0.22% | Trim |
| 18 | TSLA | Tesla INC | 0% | +0.23% | Add |
| 19 | LLY | Eli Lilly & Co | 0% | -0.07% | Trim |
| 20 | V | Visa Inc-class A Shares | 0% | -0.24% | Trim |
| 21 | PLTR | Palantir Technologies Inc-a | 0% | +0.14% | Add |
| 22 | ORCL | Oracle CORP | — | +0.96% | Add |
| 23 | MSFT | Microsoft CORP | 0% | +0.05% | Add |
| 24 | CRM | Salesforce INC | 0% | -1.44% | Trim |
| 25 | INTU | Intuit INC | 0% | -0.04% | Trim |
| 26 | CDNS | Cadence Design Sys INC | 0% | -45.36% | Trim |
| 27 | APP | Applovin Corp-class A | 0% | +0.27% | Add |
| 28 | ECHO | Echostar Corp-a | 0% | -85.70% | Trim |
| 29 | LITE | Lumentum Holdings INC | -0.1% | -85.60% | Trim |
| 30 | CIEN | Ciena CORP | -0.1% | -85.72% | Trim |
| 31 | COHR | Coherent CORP | -0.1% | -82.94% | Trim |
| 32 | IVV | Ishares Core S&p 500 ETF | -0.1% | -20.26% | Trim |
| 33 | IEFA | Ishares Core Msci Eafe ETF | -0.2% | -89.77% | Trim |
| 34 | EFA | Ishares Msci Eafe ETF | -1% | -28.26% | Trim |
| 35 | VOO | Vanguard S&p 500 ETF | -1.8% | -40.51% | Trim |
| 36 | USHY | Ishares Broad Usd High Yield | -2.8% | -89.52% | Trim |
| 37 | HYG | Ishr Ibx Usd Hiyld Cb Etf-ui | -4.8% | -89.48% | Trim |
| 38 | JNK | Ss Spdr Bb High Yield Bond | — | EXIT | Sold out |
| 39 | IGV | Ishares Expanded Tech-softwa | — | NEW | New buy |
| 40 | MINT | Pimco Enhanced Short Maturit | — | NEW | New buy |
| 41 | ORCL 6.5 01-15-29 D | Oracle CORP | — | NEW | New buy |
| 42 | PNW | Pinnacle Financial Partners, Inc. | — | EXIT | Sold out |
| 43 | VRT | Vertiv Holdings Co-a | — | NEW | New buy |
| 44 | PNFP | Pinnacle Financial Partners | — | NEW | New buy |
| 45 | AEIS | Advanced Energy Industries | — | NEW | New buy |
| 46 | SOLS | Solstice Adv Materials INC | — | NEW | New buy |
| 47 | CMA | Comerica INC | — | EXIT | Sold out |
| 48 | TTMI | Ttm Technologies | — | NEW | New buy |
| 49 | FYBR | Frontier Communications Pare | — | EXIT | Sold out |
| 50 | ARWR | Arrowhead Pharmaceuticals In | — | NEW | New buy |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-08 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-05 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-07 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-12 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-14 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-11 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-13 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-15 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-15 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-06-20 | Amendment | View on EDGAR |
| 2023-12-31 | 2024-02-13 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2024-06-20 | Amendment | View on EDGAR |
| 2023-09-30 | 2023-11-14 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2024-06-20 | Amendment | View on EDGAR |
| 2023-06-30 | 2023-08-14 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2024-06-20 | Amendment | View on EDGAR |
| 2023-03-31 | 2023-05-15 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2024-06-20 | Amendment | View on EDGAR |
| 2022-12-31 | 2023-02-21 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2024-06-20 | Amendment | View on EDGAR |
| 2022-09-30 | 2022-11-14 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2024-06-20 | Amendment | View on EDGAR |
| 2022-06-30 | 2022-08-04 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2024-06-20 | Amendment | View on EDGAR |
| 2022-03-31 | 2022-05-09 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2024-06-20 | Amendment | View on EDGAR |
| 2021-12-31 | 2022-02-03 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2024-06-20 | Amendment | View on EDGAR |
| 2021-09-30 | 2021-11-15 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2024-06-20 | Amendment | View on EDGAR |
| 2021-06-30 | 2021-08-13 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2024-06-20 | Amendment | View on EDGAR |
| 2021-03-31 | 2021-05-14 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2024-06-20 | Amendment | View on EDGAR |
| 2020-12-31 | 2021-02-12 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2024-06-20 | Amendment | View on EDGAR |
| 2020-09-30 | 2020-11-13 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-14 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-05-08 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-07 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-06 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-12 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-10 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-13 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-11-13 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-14 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-14 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-13 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-13 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-14 | Amendment | View on EDGAR |
| 2017-06-30 | 2017-08-09 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-05-09 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-02-14 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-11-14 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-08-30 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-05-16 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-02-16 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-11-16 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-08-14 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-05-15 | 13F-HR | View on EDGAR |
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