Northwestern Mutual Investment Management Company, LLC
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 12, 2026), Northwestern Mutual Investment Management Company, LLC reported 879 stock positions worth $8.5 billion. Its top holding was iShares MSCI Eafe ETF (EFA) at 12.7% of the portfolio, followed by iShares Core S&P 500 ETF (IVV, 12.3%) and iShares Core S&P Small-Cap E (IJR, 8.7%). Compared with Q1 2026, it opened 19 new positions, sold out of 14, added to 463 and reduced 393. The biggest buy was iShares Broad Usd High Yield (USHY, shares +1004%) and the biggest sale iShares MSCI Eafe ETF (EFA, shares −8%).
- Most Recent 13F
- Q2 2026
- Location
- MILWAUKEE, WI
- CIK
- 0001629649
- Portfolio Value
- $8.5B (Q2 2026)
- SEC Filing
- 0001629649-26-000004 ↗ filed Aug 12, 2026
Holdings Value
Holdings 879 stocks · $8.5B
| EFA iShares MSCI Eafe ETF | 12.69% | 10,419,892 | $1.1B | Reduce -7.7% |
| IVV iShares Core S&P 500 ETF | 12.35% | 1,405,896 | $1.1B | Add +17.2% |
| IJR iShares Core S&P Small-Cap E | 8.72% | 5,014,613 | $743.7M | Reduce -4.7% |
| IJH iShares Core S&P Midcap ETF | 7.70% | 8,517,640 | $656.8M | Reduce -0.6% |
| VOO Vanguard S&P 500 ETF | 6.21% | 770,657 | $529.3M | Add +40.7% |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | 5.83% | 4,559,454 | $497.3M | Add +32.4% |
| USHY iShares Broad Usd High Yield | 3.75% | 8,646,000 | $320.1M | Add +1004.2% |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 3.52% | 3,750,000 | $299.9M | Add +509.8% |
| TLT iShares 20+ Year Treasury BD | 2.95% | 2,913,600 | $251.8M | New |
| NVDA Nvidia Corp. | 1.82% | 776,551 | $155.4M | Reduce -0.1% |
| VCLT Vanguard Long-Term Corp. Bond | 1.75% | 1,980,590 | $149.0M | Add +48.3% |
| AAPL Apple Inc. | 1.60% | 470,900 | $136.3M | Add +0.2% |
| MSFT Microsoft Corp. | 1.04% | 238,168 | $88.8M | Add +0.2% |
| AMZN Amazon.com Inc. | 0.88% | 313,851 | $74.8M | Add +0.4% |
| GOOGL Alphabet Inc. Class A | 0.79% | 187,999 | $67.2M | Add +0.9% |
| AVGO Broadcom Inc. | 0.67% | 151,801 | $57.3M | Add +0.1% |
| GOOG Alphabet Inc. Class C | 0.63% | 151,537 | $53.5M | Add +1.3% |
| JNK SS SPDR BB High Yield Bond | 0.59% | 520,000 | $50.1M | New |
| MU Micron Technology Inc. | 0.49% | 36,157 | $41.7M | Add +0.4% |
| AGG iShares Core U.S. Aggregate | 0.48% | 411,464 | $40.7M | Reduce -6.1% |
| META Meta Platforms Inc. Class A | 0.47% | 70,408 | $39.7M | Add +0.6% |
| MINT PIMCO Enhanced Short Maturit | 0.46% | 392,414 | $39.6M | Add +14.4% |
| TSLA Tesla Inc. | 0.45% | 90,265 | $38.0M | Add +0.3% |
| LLY Eli Lilly & Co. | 0.36% | 25,362 | $30.4M | Add +0.0% |
| AMD Advanced Micro Devices | 0.36% | 52,280 | $30.4M | Add +0.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.34% | 58,780 | $29.4M | Add +0.2% |
| JPM JPMorgan Chase & Co. | 0.33% | 85,910 | $28.1M | Reduce -0.4% |
| INTC Intel Corp. | 0.25% | 151,473 | $21.2M | Add +0.8% |
| JNJ Johnson & Johnson | 0.23% | 77,179 | $19.6M | Add +0.1% |
| AMAT Applied Materials Inc. | 0.22% | 25,445 | $18.4M | Add +0.2% |
| V Visa Inc. Class A | 0.21% | 53,213 | $18.3M | Reduce -1.1% |
| XOM Exxon Mobil Corp. | 0.21% | 132,895 | $18.2M | Reduce -0.6% |
| LRCX Lam Research Corp. | 0.20% | 40,096 | $17.4M | Add +0.3% |
| WMT Walmart Inc. | 0.19% | 140,559 | $15.9M | Add +0.2% |
| CAT Caterpillar Inc. | 0.18% | 14,768 | $15.7M | Reduce -0.8% |
| CSCO Cisco Systems Inc. | 0.17% | 126,640 | $14.9M | Add +0.2% |
| ABBV Abbvie Inc. | 0.17% | 56,647 | $14.3M | Add +0.2% |
| COST Costco Wholesale Corp. | 0.16% | 14,224 | $13.3M | Add +0.1% |
| MA Mastercard Inc. Class A | 0.16% | 25,871 | $13.3M | Reduce -0.7% |
| IGLB iShares 10+ Year Inv GR Corp. | 0.15% | 258,000 | $12.9M | New |
| KLAC KLA Corp. | 0.15% | 41,881 | $12.6M | Reduce -0.1% |
| GE General Electric filed as GE AEROSPACE | 0.15% | 33,452 | $12.5M | Reduce -0.3% |
| UNH Unitedhealth Group Inc. | 0.14% | 29,117 | $12.1M | Add +0.5% |
| BAC Bank of America Corp. | 0.14% | 209,326 | $11.9M | Reduce -1.4% |
| HD Home Depot Inc. | 0.13% | 31,935 | $11.3M | Add +0.3% |
| PG The Procter & Gamble Co. | 0.13% | 74,658 | $10.9M | Add +0.4% |
| SNDK Sandisk Corp. | 0.13% | 4,747 | $10.8M | Add +0.5% |
| MRK Merck & Co. Inc. | 0.12% | 79,187 | $10.2M | Reduce -0.3% |
| GEV GE Vernova Inc. | 0.12% | 8,615 | $10.1M | Reduce -0.1% |
| KO The Coca-Cola Co. | 0.12% | 124,151 | $10.1M | Add +0.2% |
| CVX Chevron Corp. | 0.12% | 60,023 | $9.9M | Add +0.1% |
| NFLX Netflix Inc. | 0.11% | 135,005 | $9.6M | Reduce -0.1% |
| GS Goldman Sachs Group Inc. | 0.11% | 9,458 | $9.6M | Reduce -1.4% |
| PANW Palo Alto Networks Inc. | 0.10% | 26,002 | $8.9M | Add +0.6% |
| TXN Texas Instruments Inc. | 0.10% | 29,180 | $8.7M | Add +0.5% |
| PLTR Palantir Technologies Inc. Class A | 0.10% | 73,616 | $8.6M | Add +0.7% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.10% | 30,135 | $8.5M | Add +0.8% |
| MRVL Marvell Technology Inc. | 0.10% | 28,071 | $8.4M | New |
| RTX RTX Corp. | 0.10% | 43,177 | $8.2M | Add +0.5% |
| WFC Wells Fargo & Co. | 0.10% | 98,116 | $8.1M | Reduce -0.8% |
| MS Morgan Stanley | 0.09% | 38,433 | $8.0M | Reduce -0.2% |
| ORCL Oracle Corp. | 0.09% | 54,405 | $8.0M | Add +0.3% |
| FNV Franco-Nevada Corp. | 0.09% | 36,895 | $7.7M | No change |
| C Citigroup Inc. | 0.09% | 54,684 | $7.7M | Reduce -2.2% |
| WDC Western Digital Corp. | 0.08% | 11,051 | $7.1M | Add +1.9% |
| TWLO Twilio Inc. Class A | 0.08% | 34,141 | $7.0M | Add +0.5% |
| APH Amphenol Corp. Class A | 0.08% | 39,443 | $7.0M | Add +0.3% |
| CRS Carpenter Technology | 0.08% | 11,177 | $6.9M | Add +0.2% |
| MKSI MKS Inc. | 0.08% | 15,195 | $6.8M | Add +1.0% |
| GLW Corning Inc. | 0.08% | 25,110 | $6.4M | Add +0.5% |
| CW Curtiss-Wright Corp. | 0.07% | 8,310 | $6.3M | Add +0.6% |
| AMGN Amgen Inc. | 0.07% | 17,305 | $6.3M | Add +0.4% |
| QCOM Qualcomm Inc. | 0.07% | 33,793 | $6.2M | Reduce -1.0% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.07% | 8,160 | $6.2M | Add +1.1% |
| ADI Analog Devices Inc. | 0.07% | 15,652 | $6.2M | Add +0.1% |
| ENTG Entegris Inc. | 0.07% | 34,305 | $6.2M | Add +0.7% |
| MCD McDonald's Corp. | 0.07% | 22,780 | $6.2M | Reduce -0.0% |
| ATI Ati Inc. | 0.07% | 30,698 | $6.1M | Add +0.9% |
| ILMN Illumina Inc. | 0.07% | 34,035 | $6.0M | Reduce -0.6% |
| TMO Thermo Fisher Scientific Inc. | 0.07% | 11,915 | $6.0M | Reduce -0.9% |
| PEP Pepsico Inc. | 0.07% | 43,821 | $5.9M | Add +0.2% |
| NEE Nextera Energy Inc. | 0.07% | 66,860 | $5.9M | Add +0.3% |
| STRL Sterling Infrastructure Inc. | 0.07% | 6,903 | $5.8M | Add +0.3% |
| AXP American Express Co. | 0.07% | 17,064 | $5.8M | Reduce -0.4% |
| MTZ Mastec Inc. | 0.07% | 13,861 | $5.8M | Add +0.9% |
| WWD Woodward Inc. | 0.07% | 13,402 | $5.7M | Add +0.3% |
| VZ Verizon Communications Inc. | 0.07% | 133,876 | $5.7M | Reduce -0.8% |
| ANET Arista Networks Inc. | 0.07% | 33,106 | $5.6M | Add +0.2% |
| MTSI Macom Technology Solutions H | 0.07% | 14,760 | $5.6M | Add +2.1% |
| P Everpure Inc. Class A | 0.07% | 70,980 | $5.6M | Add +1.0% |
| BA The Boeing Co. | 0.06% | 25,274 | $5.5M | Add +0.6% |
| XPO Xpo Inc. | 0.06% | 26,412 | $5.4M | Add +0.6% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.06% | 35,454 | $5.4M | Reduce -0.2% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.06% | 55,676 | $5.4M | Reduce -1.8% |
| UNP Union Pacific Corp. | 0.06% | 19,035 | $5.2M | Add +0.3% |
| UTHR United Therapeutics Corp. | 0.06% | 9,548 | $5.2M | Reduce -1.0% |
| OKTA Okta Inc. | 0.06% | 37,714 | $5.1M | Reduce -0.7% |
| WELL Welltower Inc. | 0.06% | 22,633 | $5.1M | Add +1.4% |
| DE Deere & Co. | 0.06% | 8,054 | $5.1M | Reduce -0.2% |
| ABT Abbott Laboratories | 0.06% | 55,846 | $5.1M | Add +0.4% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $1.9M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| ORACLE CORP (ORCL 6.5 01/15/29 D) | 6.5 DEP CUM SR D | 42,500 | $1.9M | Reduce -41.4% |
Total filed on the 13F, all lines: $8.5B.
Portfolio Sells Q1 2026 → Q2 2026
| EFA iShares MSCI Eafe ETF | Reduce -7.7% | 12.69% | −3.93 |
| IGV iShares Expanded Tech-Softwa | Sold out | 0.00% | −1.38 |
| IJR iShares Core S&P Small-Cap E | Reduce -4.7% | 8.72% | −1.20 |
| IJH iShares Core S&P Midcap ETF | Reduce -0.6% | 7.70% | −1.07 |
| NVDA Nvidia Corp. | Reduce -0.1% | 1.82% | −0.23 |
| AGG iShares Core U.S. Aggregate | Reduce -6.1% | 0.48% | −0.18 |
| XOM Exxon Mobil Corp. | Reduce -0.6% | 0.21% | −0.13 |
| NFLX Netflix Inc. | Reduce -0.1% | 0.11% | −0.08 |
| CASY Casey's General Stores Inc. | Reduce -85.7% | 0.01% | −0.08 |
| JPM JPMorgan Chase & Co. | Reduce -0.4% | 0.33% | −0.06 |
| T AT&T Inc. | Reduce -0.6% | 0.05% | −0.04 |
| MA Mastercard Inc. Class A | Reduce -0.7% | 0.16% | −0.04 |
| CRM Salesforce Inc. | Reduce -12.5% | 0.05% | −0.04 |
| VZ Verizon Communications Inc. | Reduce -0.8% | 0.07% | −0.04 |
| MCD McDonald's Corp. | Reduce -0.0% | 0.07% | −0.04 |
| BLD Topbuild Corp. | Sold out | 0.00% | −0.03 |
| V Visa Inc. Class A | Reduce -1.1% | 0.21% | −0.03 |
| INTU Intuit Inc. | Reduce -0.4% | 0.03% | −0.03 |
| COP Conocophillips | Reduce -0.4% | 0.05% | −0.03 |
| MASI Masimo Corp. | Sold out | 0.00% | −0.03 |
| ISRG Intuitive Surgical Inc. | Reduce -0.1% | 0.05% | −0.03 |
| UTHR United Therapeutics Corp. | Reduce -1.0% | 0.06% | −0.03 |
| MRK Merck & Co. Inc. | Reduce -0.3% | 0.12% | −0.03 |
| WFC Wells Fargo & Co. | Reduce -0.8% | 0.10% | −0.02 |
| TJX TJX Companies Inc. | Reduce -0.2% | 0.06% | −0.02 |
| DIS The Walt Disney Co. | Reduce -1.8% | 0.06% | −0.02 |
| NEM Newmont Corp. | Reduce -2.0% | 0.04% | −0.02 |
| TMO Thermo Fisher Scientific Inc. | Reduce -0.9% | 0.07% | −0.02 |
| SCHW Schwab (charles) Corp. | Reduce -1.9% | 0.06% | −0.02 |
| TMUS T-Mobile US Inc. | Reduce -1.6% | 0.03% | −0.02 |
| OVV Ovintiv Inc. | Reduce -0.4% | 0.04% | −0.02 |
| ADBE Adobe Inc. | Reduce -1.3% | 0.03% | −0.02 |
| IEFA iShares Core MSCI Eafe ETF | Reduce -46.4% | 0.01% | −0.02 |
| MCK McKesson Corp. | Reduce -1.7% | 0.03% | −0.02 |
| ICE Intercontinental Exchange Inc. | Reduce -0.2% | 0.03% | −0.02 |
| BAC Bank of America Corp. | Reduce -1.4% | 0.14% | −0.02 |
| CMCSA Comcast Corp. Class A | Reduce -0.5% | 0.03% | −0.02 |
| SPGI S&P Global Inc. | Reduce -0.7% | 0.05% | −0.02 |
| UBER Uber Technologies Inc. | Reduce -0.9% | 0.06% | −0.02 |
| GWRE Guidewire Software Inc. | Reduce -0.0% | 0.03% | −0.02 |
| NOW ServiceNow Inc. | Reduce -1.2% | 0.04% | −0.01 |
| BJ Bj's Wholesale Club Holdings | Reduce -2.0% | 0.03% | −0.01 |
| CCL Carnival Corp. | Sold out | 0.00% | −0.01 |
| REGN Regeneron Pharmaceuticals | Reduce -0.7% | 0.02% | −0.01 |
| BKNG Booking Holdings Inc. | Reduce -3.6% | 0.05% | −0.01 |
| THC Tenet Healthcare Corp. | Reduce -1.6% | 0.04% | −0.01 |
| ACM Aecom | Reduce -0.2% | 0.02% | −0.01 |
| HCA HCA Healthcare Inc. | Reduce -0.6% | 0.02% | −0.01 |
| RRC Range Resources Corp. | Reduce -0.1% | 0.02% | −0.01 |
| CTRA Coterra Energy Inc. | Sold out | 0.00% | −0.01 |
Portfolio Buys Q1 2026 → Q2 2026
| USHY iShares Broad Usd High Yield | Add +1004.2% | 3.75% | +3.32 |
| TLT iShares 20+ Year Treasury BD | New | 2.95% | +2.95 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Add +509.8% | 3.52% | +2.77 |
| VOO Vanguard S&P 500 ETF | Add +40.7% | 6.21% | +1.24 |
| JNK SS SPDR BB High Yield Bond | New | 0.59% | +0.59 |
| IVV iShares Core S&P 500 ETF | Add +17.2% | 12.35% | +0.46 |
| MU Micron Technology Inc. | Add +0.4% | 0.49% | +0.30 |
| VCLT Vanguard Long-Term Corp. Bond | Add +48.3% | 1.75% | +0.23 |
| AMD Advanced Micro Devices | Add +0.2% | 0.36% | +0.20 |
| IGLB iShares 10+ Year Inv GR Corp. | New | 0.15% | +0.15 |
| INTC Intel Corp. | Add +0.8% | 0.25% | +0.15 |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | Add +32.4% | 5.83% | +0.14 |
| MRVL Marvell Technology Inc. | New | 0.10% | +0.10 |
| AMAT Applied Materials Inc. | Add +0.2% | 0.22% | +0.08 |
| SNDK Sandisk Corp. | Add +0.5% | 0.13% | +0.08 |
| LRCX Lam Research Corp. | Add +0.3% | 0.20% | +0.07 |
| ROKU Roku Inc. | New | 0.05% | +0.05 |
| CDE Coeur Mining Inc. | New | 0.04% | +0.04 |
| PANW Palo Alto Networks Inc. | Add +0.6% | 0.10% | +0.04 |
| SMTC Semtech Corp. | New | 0.04% | +0.04 |
| WDC Western Digital Corp. | Add +1.9% | 0.08% | +0.04 |
| SANM Sanmina Corp. | New | 0.04% | +0.04 |
| TOST Toast Inc. Class A | New | 0.03% | +0.03 |
| DOCN Digitalocean Holdings Inc. | New | 0.03% | +0.03 |
| VIAV Viavi Solutions Inc. | New | 0.03% | +0.03 |
| MKSI MKS Inc. | Add +1.0% | 0.08% | +0.03 |
| CSCO Cisco Systems Inc. | Add +0.2% | 0.17% | +0.03 |
| STRL Sterling Infrastructure Inc. | Add +0.3% | 0.07% | +0.03 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +1.1% | 0.07% | +0.03 |
| GLW Corning Inc. | Add +0.5% | 0.08% | +0.02 |
| UNH Unitedhealth Group Inc. | Add +0.5% | 0.14% | +0.02 |
| TWLO Twilio Inc. Class A | Add +0.5% | 0.08% | +0.02 |
| SITM Sitime Corp. | Add +0.8% | 0.04% | +0.02 |
| MTSI Macom Technology Solutions H | Add +2.1% | 0.07% | +0.02 |
| IESC Ies Holdings Inc. | New | 0.02% | +0.02 |
| TTMI TTM Technologies | Add +0.9% | 0.05% | +0.02 |
| TXN Texas Instruments Inc. | Add +0.5% | 0.10% | +0.02 |
| ONTO Onto Innovation Inc. | Add +0.6% | 0.05% | +0.02 |
| SIRI Sirius XM Holdings Inc. | New | 0.01% | +0.01 |
| CRS Carpenter Technology | Add +0.2% | 0.08% | +0.01 |
| DDOG Datadog Inc. Class A | Add +1.0% | 0.03% | +0.01 |
| LSCC Lattice Semiconductor Corp. | Add +0.6% | 0.06% | +0.01 |
| ENTG Entegris Inc. | Add +0.7% | 0.07% | +0.01 |
| VICR Vicor Corp. | Add +3.3% | 0.02% | +0.01 |
| VEEV Veeva Systems Inc. Class A | New | 0.01% | +0.01 |
| SNX TD Synnex Corp. | Add +0.1% | 0.05% | +0.01 |
| ALGM Allegro Microsystems Inc. | Add +0.4% | 0.02% | +0.01 |
| AMKR Amkor Technology Inc. | Add +0.6% | 0.03% | +0.01 |
| AAL American Airlines Group Inc. | Add +0.6% | 0.03% | +0.01 |
| COHR Coherent Corp. | Add +4.5% | 0.03% | +0.01 |
Notes & Other Activity Q1 2026 → Q2 2026
| ORACLE CORP (ORCL 6.5 01/15/29 D) | 6.5 DEP CUM SR D | Reduce -41.4% | 42,500 | $1.9M |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 879 | $8.5B | EFA, IVV, IJR, IJH, VOO |
| Q1 2026 | 873 | $6.6B | EFA, IVV, IJR, IJH, LQD |
| Q4 2025 | 877 | $8.6B | EFA, IVV, IJR, IJH, VOO |
| Q3 2025 | 877 | $6.9B | EFA, IVV, IJH, VOO, IJR |
| Q2 2025 | 879 | $6.5B | EFA, IVV, IJR, IJH, VOO |
| Q1 2025 | 876 | $6.3B | EFA, IVV, IJR, IJH, VOO |
| Q4 2024 | 875 | $4.5B | EFA, IJR, IVV, IJH, VOO |
| Q3 2024 | 874 | $4.3B | EFA, IJR, IVV, IJH, VOO |
| Q2 2024 | 876 | $3.9B | VOO, IJR, EFA, IJH, IEFA |
| Q1 2024 | 877 | $3.8B | VOO, IJR, EFA, IJH, IVV |