NM
Northwestern Mutual Wealth Management Co 13F Filings & AI Analysis
Northwestern Mutual Wealth Management CoCIK: 0001141802
Diversified strategyMomentum followerLong-term holder
Total reported value
$162.4B
Reporting period: 2026-03-31 · Number of holdings: 4113
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO disclosed 4113 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $162.4B and a quarterly turnover rate of 7.4%.
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Personality snowflake
- Concentration
- 14.47
- Portfolio Stability
- 7.39
- Momentum/Contrarian
- 96.44
- Sector conviction
- 56.45
- Diversification
- 100
- Sizing Uniformity
- 0
Northwestern Mutual Wealth Management Co's disclosed holdings carry a Herfindahl concentration index of 0.036 — mathematically equivalent to about 28 equally-sized positions, well below its 4113 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 12.16), 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 9% 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.
Recent moves
Trim IVV
+2.2% -$577.2M
Add IJH
+3.2% $463.2M
Trim SPY
+2.7% -$83.6M
Trim MSFT
+11.5% -$143.0M
Add VEA
+3.7% $244.6M
Add SCHF
+1.5% $323.6M
Holdings Map
New buyAddUnchangedTrim
Institutional Game-State Analysis
Core Intent
Northwestern Mutual Wealth Management deploys fresh capital across IVV, IJH, SCHF, and BND this quarter, confirming a shift from security selection to uniform index allocation. With 4,113 holdings and a turnover ratio of only 7.39%, the fund abandons active stock picking in favor of locked-in beta exposure across global markets. This is a structural diversification play that prioritizes baseline risk parity over directional conviction.
Macro & Fundamentals
The portfolio executes a massive capital rotation into Information Technology and Financials while anchoring developed-market exposure to capture global recovery beta. The opposing thesis bets on domestic mega-cap stagnation; this fund sidesteps crowded thematic trading by absorbing broad liquidity, directly countering the positioning squeeze waiting for overvalued growth names.
Blind Spots / Risks
Extreme position-sizing uniformity (CV of 12.16) creates a structural fragility during macro shocks: rebalancing requires selling the entire basket simultaneously, turning a diversified mandate into a synchronized exit route that amplifies drawdown velocity when correlated risk materializes across thousands of names.
Generated by AI based on public SEC filings. Reflects past holdings only and should not be treated as investment advice.
Top 10 holdings by weight
Full holdings list this quarter
Showing top 200 holdings (of 4113 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | IVV | Ishares Core S&p 500 ETF | ETF-Large Cap & Growth | 13.91% | -0.75% | +2.25% | |
| 2 | BND | Vanguard Total Bond Market | ETF-Other | 6.11% | -0.02% | +2.99% | |
| 3 | IJH | Ishares Core S&p Midcap ETF | ETF-Other | 5.36% | +0.15% | +3.23% | |
| 4 | SCHF | Schwab Intl Equity ETF | ETF-Other | 4.61% | +0.08% | +1.52% | |
| 5 | IJR | Ishares Core S&p Small-cap E | ETF-Small Cap | 3.32% | +0.08% | +2.06% | |
| 6 | RSP | Invesco S&p 500 Equal Weight | ETF-Large Cap & Growth | 3.20% | +0.02% | +3.21% | |
| 7 | FBND | Fidelity Total Bond ETF | ETF-Other | 2.69% | — | +3.69% | |
| 8 | VWO | Vanguard Ftse Emerging Marke | ETF-Emerging Markets | 2.67% | +0.01% | +2.47% | |
| 9 | VEA | Vanguard Ftse Developed ETF | ETF-Other | 2.53% | +0.09% | +3.65% | |
| 10 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 2.45% | -0.12% | +2.70% | |
| 11 | TLT | Ishares 20+ Year Treasury Bd | ETF-Gov Bonds | 2.37% | -0.01% | +2.87% | |
| 12 | IEFA | Ishares Core Msci Eafe ETF | ETF-Other | 2.03% | +0.05% | +3.84% | |
| 13 | VLUE | Ishares Msci USA Value Facto | ETF-Other | 2.02% | +0.05% | +1.24% | |
| 14 | IQLT | Ishares Msci International Q | ETF-Other | 1.61% | +0.02% | +2.57% | |
| 15 | VTEB | Vanguard Tax-exempt Bond ETF | ETF-Other | 1.18% | +0.01% | +5.24% | |
| 16 | QQQ | Invesco Qqq Trust Series 1 | ETF-Tech | 1.13% | -0.07% | +2.94% | |
| 17 | VO | Vanguard Mid-cap ETF | ETF-Other | 1.12% | — | +2.07% | |
| 18 | VOO | Vanguard S&p 500 ETF | ETF-Large Cap & Growth | 1.06% | — | +7.66% | |
| 19 | DFIV | Dimensional International Va | ETF-Other | 1.01% | +0.08% | +5.81% | |
| 20 | IUSB | Ishr Cr Unvrse Usd Bd Etf-ui | ETF-Other | 0.86% | +0.02% | +5.99% | |
| 21 | IEMG | Ishares Core Msci Emerging | ETF-Emerging Markets | 0.83% | +0.05% | +6.02% | |
| 22 | AGG | Ishares Core U.s. Aggregate | ETF-Other | 0.79% | +0.01% | +5.58% | |
| 23 | VNQ | Vanguard Real Estate ETF | ETF-Other | 0.70% | +0.03% | +6.98% | |
| 24 | NVDA | Nvidia CORP | Stock-Tech | 0.62% | — | +3.56% | |
| 25 | MUB | Ishares National Muni Bond E | ETF-Other | 0.58% | — | +5.60% | |
| 26 | AAPL | Apple INC | Stock-Tech | 0.57% | -0.07% | -0.95% | |
| 27 | BIV | Vanguard Intermediate-term B | ETF-Other | 0.57% | +0.02% | +7.50% | |
| 28 | SCHX | Schwab US Large-cap ETF | ETF-Other | 0.55% | +0.02% | +12.34% | |
| 29 | VTV | Vanguard Value ETF | ETF-Other | 0.55% | +0.06% | +10.91% | |
| 30 | GSLC | Goldman Activebeta US Lc ETF | ETF-Commodities | 0.55% | -0.04% | +0.11% | |
| 31 | QQQM | Invesco Nasdaq 100 ETF | ETF-Tech | 0.54% | -0.05% | +0.84% | |
| 32 | VV | Vanguard Large-cap ETF | ETF-Other | 0.52% | — | +2.91% | |
| 33 | CGDV | Cap Group Dividend Value | ETF-Other | 0.52% | — | +5.60% | |
| 34 | MSFT | Microsoft CORP | Stock-Tech | 0.51% | -0.11% | +11.48% | |
| 35 | INTF | Ishares International Equity | ETF-Other | 0.49% | +0.02% | +6.05% | |
| 36 | VUG | Vanguard Growth ETF | ETF-Other | 0.48% | -0.06% | +1.39% | |
| 37 | DYNF | Ishrs US E F R A Etf-usd INC | ETF-Other | 0.47% | +0.04% | +18.36% | |
| 38 | AMZN | Amazon.com INC | Stock-Consumer Disc | 0.47% | -0.04% | +3.68% | |
| 39 | VB | Vanguard Small-cap ETF | ETF-Other | 0.45% | — | +2.37% | |
| 40 | IVLU | Ishares Msci International V | ETF-Other | 0.44% | +0.03% | +5.73% | |
| 41 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 0.40% | -0.06% | -3.23% | |
| 42 | IAU | Ishares Gold Trust | ETF-Commodities | 0.35% | — | -2.21% | |
| 43 | MDY | State Street Spdr S&p Midcap | ETF-Other | 0.33% | — | +4.18% | |
| 44 | CGGR | Cap Group Growth Equity | ETF-Other | 0.32% | — | +6.68% | |
| 45 | IWB | Ishares Russell 1000 ETF | ETF-Other | 0.30% | — | +4.38% | |
| 46 | COWZ | Pacer US Cash Cows 100 ETF | ETF-Other | 0.29% | — | -4.20% | |
| 47 | IEF | Ishares 7-10 Year Treasury B | ETF-Gov Bonds | 0.29% | — | +5.25% | |
| 48 | VGT | Vanguard Info Tech ETF | ETF-Tech | 0.27% | — | -1.26% | |
| 49 | FENI | Fidelity Enhanced Intl ETF | ETF-Other | 0.27% | +0.05% | +19.66% | |
| 50 | SCHD | Schwab US Dvd Equity ETF | ETF-Other | 0.26% | — | -2.25% |
1–50 of 200
Portfolio Performance
Performance for Q3 2026
+2.6%
Performance Last 4 Quarters
+19.1%
Based on 72% of reported portfolio value with available pricing
- Stdev
- +10.4%
- Beta
- +0.73
- Alpha
- -0.1%
- Max Drawdown
- -6%
- Annualized Perf
- +13.6%
- Batting Avg vs S&P
- +36.1%
- Sortino
- +2.43
- Stutzer
- +0.38
- Treynor
- +0.18
- Sterling
- +0.9
- Calmar
- +2.26
- Information Ratio
- -0.95
- Tracking Error
- +5.4%
- Stdev Down
- +5.5%
- Winning Months %
- +66.7%
- Losing Months %
- +33.3%
- Best 12 Months
- +25.5%
- Worst 12 Months
- +5%
- Efficiency Ratio
- +0.49
- Sharpe
- +1.29
- Stdev Sectors
- +9.4%
- Skewness
- -0.13
- Kurtosis
- -0.4
- Upside Potential
- +4.1
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 4113 | $162.4B | 7 | |
| 2025-12-31 | 4007 | $158.1B | 8 | |
| 2025-09-30 | 3789 | $150.0B | 25 | |
| 2025-06-30 | 3653 | $137.2B | 0 | |
| 2025-03-31 | 3648 | $122.3B | 100 | |
| 2024-12-31 | 3588 | $118.5B | 0 | |
| 2024-09-30 | 3585 | $112.6B | 0 | |
| 2024-06-30 | 3482 | $101.4B | 0 | |
| 2024-03-31 | 3555 | $97.3B | 0 | |
| 2023-12-31 | 3461 | $88.7B | 0 | |
| 2023-09-30 | 3266 | $76.9B | 0 | |
| 2023-06-30 | 3333 | $77.4B | 0 | |
| 2023-03-31 | 3341 | $71.6B | 0 | |
| 2022-12-31 | 3319 | $66.1B | 0 | |
| 2022-09-30 | 3211 | $57.3B | 0 | |
| 2022-06-30 | 3312 | $58.2B | 0 | |
| 2022-03-31 | 3246 | $62.4B | 0 | |
| 2021-12-31 | 3257 | $61.2B | 0 | |
| 2021-09-30 | 3098 | $54.7B | 0 | |
| 2021-06-30 | 3069 | $52.7B | 94 | |
| 2021-03-31 | 2829 | $47.1B | 11 | |
| 2020-12-31 | 2737 | $43.3B | 17 | |
| 2020-09-30 | 2612 | $37.2B | 16 | |
| 2020-06-30 | 2426 | $32.4B | 26 | |
| 2020-03-31 | 2687 | $25.9B | 21 | |
| 2019-12-31 | 2471 | $29.3B | 13 | |
| 2019-09-30 | 2550 | $26.3B | 11 | |
| 2019-06-30 | 2543 | $24.9B | 10 | |
| 2019-03-31 | 2601 | $22.8B | 20 | |
| 2018-12-31 | 2465 | $20.0B | 15 | |
| 2018-09-30 | 2529 | $19.8B | 12 | |
| 2018-06-30 | 2413 | $17.9B | 18 | |
| 2018-03-31 | 2229 | $16.5B | 8 | |
| 2017-12-31 | 2348 | $15.7B | 13 | |
| 2017-09-30 | 2204 | $14.0B | 13 | |
| 2017-06-30 | 2058 | $12.5B | 17 | |
| 2017-03-31 | 2050 | $11.0B | 21 | |
| 2016-12-31 | 2429 | $9.2B | 100 | |
| 2016-09-30 | 178 | $1.5B | 0 | |
| 2016-06-30 | 2106 | $7.0B | 22 | |
| 2016-03-31 | 2186 | $6.2B | 29 | |
| 2015-12-31 | 1647 | $5.0B | 22 | |
| 2015-09-30 | 1732 | $4.2B | 18 | |
| 2015-06-30 | 1494 | $3.9B | 13 | |
| 2015-03-31 | 1580 | $3.6B | 15 | |
| 2014-12-31 | 1721 | $3.2B | 20 | |
| 2014-09-30 | 1391 | $2.9B | 18 | |
| 2014-06-30 | 1266 | $2.6B | 12 | |
| 2014-03-31 | 1288 | $2.4B | 16 | |
| 2013-12-31 | 1393 | $2.2B | 20 | |
| 2013-09-30 | 1368 | $1.9B | 7 | |
| 2013-06-30 | 1710 | $9.1B | 0 |
Holding changes this quarter
Northwestern Mutual Wealth Management Co's most significant position changes for 2026-03-31: Add: Ishares Core S&p 500 ETF (IVV) — shares +2.25%; Add: Ishares Core S&p Midcap ETF (IJH) — shares +3.23%; Add: Ss Spdr S&p 500 ETF Trust-us (SPY) — shares +2.70%; Add: Microsoft CORP (MSFT) — shares +11.48%; Add: Vanguard Ftse Developed ETF (VEA) — shares +3.65%.
Filing History
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-07 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-10 | Amendment | View on EDGAR |
| 2025-12-31 | 2026-02-05 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-14 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-13 | 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 | 2024-11-12 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-16 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-15 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-13 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-14 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-14 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-15 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-21 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-14 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-04 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-09 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-03 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-15 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-13 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-14 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-12 | 13F-HR | 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 | 2020-02-13 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-12 | 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 | 2019-02-12 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-11-01 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-10 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-14 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-01-31 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-07 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-10 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-05-09 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-02-15 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2017-02-23 | Amendment | View on EDGAR |
| 2016-09-30 | 2017-02-23 | Amendment | View on EDGAR |
| 2016-09-30 | 2016-11-14 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-08-29 | 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 | 2015-09-30 | Amendment | 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 |
| 2014-12-31 | 2015-02-13 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-11-14 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-08-05 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-05-15 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-02-14 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2013-11-14 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-08-21 | Amendment | View on EDGAR |
| 2013-06-30 | 2013-08-14 | 13F-HR | View on EDGAR |
FAQ
What is Northwestern Mutual Wealth Management Co and what type of investor is it?
Northwestern Mutual Wealth Management Co is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-03-31), the firm manages a tracked equity portfolio valued at approximately $162.4B, spread across 4113 disclosed positions.
What are Northwestern Mutual Wealth Management Co's largest equity positions?
Based on the latest 13F filing, Northwestern Mutual Wealth Management Co's top holdings by market value are:
1. Ishares Core S&p 500 ETF (IVV) — $22.6B (13.9%)
2. Vanguard Total Bond Market (BND) — $9.9B (6.1%)
3. Ishares Core S&p Midcap ETF (IJH) — $8.7B (5.4%)
4. Schwab Intl Equity ETF (SCHF) — $7.5B (4.6%)
5. Ishares Core S&p Small-cap E (IJR) — $5.4B (3.3%)
What changes did Northwestern Mutual Wealth Management Co make in its most recent portfolio filing?
In the latest reported quarter, Northwestern Mutual Wealth Management Co made 50 notable position adjustments: 0 new positions were initiated, 42 existing holdings were added to, 8 positions were partially reduced, and 0 were completely exited. The largest of these moves: Add: Ishares Core S&p 500 ETF (IVV) — shares +2.25%; Add: Ishares Core S&p Midcap ETF (IJH) — shares +3.23%; Add: Ss Spdr S&p 500 ETF Trust-us (SPY) — shares +2.70%; Add: Microsoft CORP (MSFT) — shares +11.48%; Add: Vanguard Ftse Developed ETF (VEA) — shares +3.65%
What sectors does Northwestern Mutual Wealth Management Co focus on?
Northwestern Mutual Wealth Management Co is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 36.0%
• Financials: 13.1%
• Communication Services: 11.9%
• Consumer Discretionary: 10.0%
• Industrials: 8.7%
• Health Care: 7.5%
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