Northwestern Mutual Investment Management Company, LLC
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 15, 2024), Northwestern Mutual Investment Management Company, LLC reported 877 stock positions worth $3.8 billion. Its top holding was Vanguard S&P 500 ETF (VOO) at 12.0% of the portfolio, followed by iShares Core S&P Small-Cap E (IJR, 10.2%) and iShares MSCI Eafe ETF (EFA, 9.2%). Compared with Q4 2023, it opened 6 new positions, sold out of 10, added to 673 and reduced 196. The biggest buy was iShares MSCI Eafe ETF (EFA, shares +44%) and the biggest sale iShares Core S&P 500 ETF (IVV, shares −50%).
- Most Recent 13F
- Q2 2026
- Location
- MILWAUKEE, WI
- CIK
- 0001629649
- Portfolio Value
- $3.8B (Q1 2024)
- SEC Filing
- 0001085146-24-002535 ↗ filed May 15, 2024
Holdings Value
Holdings 877 stocks · $3.8B
| VOO Vanguard S&P 500 ETF | 12.05% | 958,896 | $460.9M | Reduce -4.7% |
| IJR iShares Core S&P Small-Cap E | 10.23% | 3,543,123 | $391.6M | Add +3.0% |
| EFA iShares MSCI Eafe ETF | 9.18% | 4,399,906 | $351.4M | Add +44.3% |
| IJH iShares Core S&P Midcap ETF | 7.13% | 4,493,535 | $272.9M | Reduce -13.9% |
| IVV iShares Core S&P 500 ETF | 4.90% | 356,300 | $187.3M | Reduce -49.6% |
| IEFA iShares Core MSCI Eafe ETF | 4.24% | 2,183,538 | $162.1M | Reduce -49.3% |
| MSFT Microsoft Corp. | 2.59% | 235,782 | $99.2M | Add +0.2% |
| AAPL Apple Inc. | 2.06% | 460,598 | $79.0M | Reduce -0.5% |
| NVDA Nvidia Corp. | 1.85% | 78,377 | $70.8M | Add +0.3% |
| AMZN Amazon.com Inc. | 1.37% | 290,057 | $52.3M | Add +0.8% |
| AGG iShares Core U.S. Aggregate | 0.90% | 351,980 | $34.5M | Add +1.4% |
| META Meta Platforms Inc. Class A | 0.89% | 69,812 | $33.9M | Reduce -0.6% |
| GOOGL Alphabet Inc. Class A | 0.74% | 186,995 | $28.2M | Reduce -0.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.63% | 57,734 | $24.3M | Add +0.3% |
| GOOG Alphabet Inc. Class C | 0.62% | 156,558 | $23.8M | Reduce -0.7% |
| LLY Eli Lilly & Co. | 0.51% | 25,303 | $19.7M | Add +0.3% |
| AVGO Broadcom Inc. | 0.48% | 13,964 | $18.5M | Add +0.5% |
| JPM JPMorgan Chase & Co. | 0.48% | 91,736 | $18.4M | Add +0.3% |
| TSLA Tesla Inc. | 0.40% | 87,921 | $15.5M | Add +0.4% |
| XOM Exxon Mobil Corp. | 0.38% | 126,007 | $14.6M | Reduce -0.6% |
| UNH Unitedhealth Group Inc. | 0.38% | 29,349 | $14.5M | Add +0.3% |
| V Visa Inc. Class A | 0.37% | 50,187 | $14.0M | Reduce -0.5% |
| MA Mastercard Inc. Class A | 0.33% | 26,180 | $12.6M | Reduce -0.1% |
| HD Home Depot Inc. | 0.32% | 31,581 | $12.1M | Reduce -0.2% |
| PG The Procter & Gamble Co. | 0.32% | 74,665 | $12.1M | Add +0.1% |
| JNJ Johnson & Johnson | 0.32% | 76,387 | $12.1M | Add +0.3% |
| MRK Merck & Co. Inc. | 0.28% | 80,408 | $10.6M | Add +0.3% |
| COST Costco Wholesale Corp. | 0.27% | 14,081 | $10.3M | Add +0.5% |
| ABBV Abbvie Inc. | 0.27% | 56,023 | $10.2M | Add +0.3% |
| AMD Advanced Micro Devices | 0.24% | 51,272 | $9.3M | Add +0.3% |
| CRM Salesforce Inc. | 0.24% | 30,716 | $9.3M | Reduce -0.3% |
| CVX Chevron Corp. | 0.23% | 55,037 | $8.7M | Reduce -1.0% |
| NFLX Netflix Inc. | 0.22% | 13,732 | $8.3M | Reduce -0.9% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.22% | 218,471 | $8.3M | Add +0.3% |
| WMT Walmart Inc. | 0.21% | 135,832 | $8.2M | Add +0.3% |
| PEP Pepsico Inc. | 0.20% | 43,613 | $7.6M | Add +0.2% |
| CDNS Cadence Design SYS Inc. | 0.20% | 24,396 | $7.6M | Add +0.1% |
| KO The Coca-Cola Co. | 0.20% | 123,470 | $7.6M | Add +0.3% |
| ADBE Adobe Inc. | 0.19% | 14,343 | $7.2M | Reduce -0.5% |
| TMO Thermo Fisher Scientific Inc. | 0.19% | 12,260 | $7.1M | Add +0.3% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.19% | 58,204 | $7.1M | Add +0.5% |
| WFC Wells Fargo & Co. | 0.17% | 114,198 | $6.6M | Reduce -0.7% |
| MCD McDonald's Corp. | 0.17% | 23,017 | $6.5M | Add +0.3% |
| CSCO Cisco Systems Inc. | 0.17% | 128,942 | $6.4M | Add +0.6% |
| MAC The Macerich Co. | 0.17% | 371,908 | $6.4M | Reduce -68.3% |
| ORCL Oracle Corp. | 0.17% | 50,593 | $6.4M | Add +0.6% |
| ABT Abbott Laboratories | 0.16% | 55,088 | $6.3M | Add +0.3% |
| GE General Electric | 0.16% | 34,535 | $6.1M | Add +0.3% |
| QCOM Qualcomm Inc. | 0.16% | 35,412 | $6.0M | Add +0.5% |
| INTC Intel Corp. | 0.15% | 134,161 | $5.9M | Add +0.5% |
| CAT Caterpillar Inc. | 0.15% | 16,154 | $5.9M | Add +0.0% |
| INTU Intuit Inc. | 0.15% | 8,882 | $5.8M | Add +0.1% |
| ADI Analog Devices Inc. | 0.15% | 28,549 | $5.6M | Reduce -4.4% |
| VZ Verizon Communications Inc. | 0.15% | 133,409 | $5.6M | Add +0.3% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.14% | 29,035 | $5.5M | Add +0.5% |
| CMCSA Comcast Corp. Class A | 0.14% | 125,734 | $5.5M | Reduce -1.1% |
| AMAT Applied Materials Inc. | 0.14% | 26,402 | $5.4M | Reduce -0.3% |
| VST Vistra Corp. | 0.14% | 74,966 | $5.2M | Add +0.3% |
| DHR Danaher Corp. | 0.14% | 20,868 | $5.2M | Add +0.3% |
| UBER Uber Technologies Inc. | 0.13% | 65,300 | $5.0M | Add +0.3% |
| TXN Texas Instruments Inc. | 0.13% | 28,853 | $5.0M | Add +0.4% |
| PFE Pfizer Inc. | 0.13% | 179,170 | $5.0M | Add +0.3% |
| NOW ServiceNow Inc. | 0.13% | 6,504 | $5.0M | Add +0.2% |
| AMGN Amgen Inc. | 0.13% | 16,977 | $4.8M | Add +0.2% |
| UNP Union Pacific Corp. | 0.12% | 19,349 | $4.8M | Add +0.3% |
| COP Conocophillips | 0.12% | 37,384 | $4.8M | Reduce -0.5% |
| FNV Franco-Nevada Corp. | 0.12% | 39,781 | $4.7M | Add +4.4% |
| LOW Lowe's Cos Inc. | 0.12% | 18,249 | $4.6M | Reduce -0.1% |
| WSM Williams-Sonoma Inc. | 0.12% | 14,308 | $4.5M | Add +0.3% |
| ISRG Intuitive Surgical Inc. | 0.12% | 11,179 | $4.5M | Add +0.3% |
| SPGI S&P Global Inc. | 0.11% | 10,196 | $4.3M | Reduce -0.6% |
| GS Goldman Sachs Group Inc. | 0.11% | 10,348 | $4.3M | Add +0.2% |
| HON Honeywell International Inc. | 0.11% | 20,920 | $4.3M | Add +0.3% |
| RS Reliance Inc. | 0.11% | 12,819 | $4.3M | Add +0.3% |
| CSL Carlisle Cos Inc. | 0.11% | 10,830 | $4.2M | No change |
| NEE Nextera Energy Inc. | 0.11% | 65,104 | $4.2M | Add +0.3% |
| AXP American Express Co. | 0.11% | 18,145 | $4.1M | Reduce -0.4% |
| MU Micron Technology Inc. | 0.11% | 35,029 | $4.1M | Add +0.8% |
| RTX RTX Corp. | 0.11% | 42,102 | $4.1M | Reduce -7.5% |
| LRCX Lam Research Corp. | 0.11% | 4,160 | $4.0M | Reduce -0.3% |
| BKNG Booking Holdings Inc. | 0.10% | 1,107 | $4.0M | Add +0.3% |
| T AT&T Inc. | 0.10% | 226,882 | $4.0M | Add +0.3% |
| ELV Elevance Health Inc. | 0.10% | 7,455 | $3.9M | Add +0.2% |
| PGR Progressive Corp. | 0.10% | 18,572 | $3.8M | Add +0.3% |
| SYK Stryker Corp. | 0.10% | 10,730 | $3.8M | Add +0.3% |
| BRKR Bruker Corp. | 0.10% | 40,863 | $3.8M | Add +1.3% |
| C Citigroup Inc. | 0.10% | 60,389 | $3.8M | Reduce -0.3% |
| PLD Prologis Inc. | 0.10% | 29,319 | $3.8M | Add +0.3% |
| MS Morgan Stanley | 0.10% | 39,753 | $3.7M | Reduce -0.6% |
| GDDY GoDaddy Inc. Class A | 0.10% | 31,411 | $3.7M | Add +0.3% |
| BLK BlackRock Finance Inc. | 0.10% | 4,437 | $3.7M | Add +0.3% |
| EME Emcor Group Inc. | 0.10% | 10,493 | $3.7M | Add +0.3% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.10% | 36,164 | $3.7M | Reduce -0.1% |
| A Agilent Technologies Inc. | 0.09% | 24,951 | $3.6M | Add +4.2% |
| NKE Nike Inc. Class B | 0.09% | 38,625 | $3.6M | Reduce -0.3% |
| GGG Graco Inc. | 0.09% | 37,647 | $3.5M | Add +0.3% |
| BA The Boeing Co. | 0.09% | 18,199 | $3.5M | Add +1.1% |
| BMY Bristol-Myers Squibb Co. | 0.09% | 64,566 | $3.5M | Add +0.3% |
| LII Lennox International Inc. | 0.09% | 7,143 | $3.5M | Add +0.4% |
| SAIA Saia Inc. | 0.09% | 5,921 | $3.5M | Add +0.3% |
Portfolio Sells Q4 2023 → Q1 2024
| IVV iShares Core S&P 500 ETF | Reduce -49.6% | 4.90% | −3.92 |
| IEFA iShares Core MSCI Eafe ETF | Reduce -49.3% | 4.24% | −3.67 |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | Sold out | 0.00% | −0.54 |
| IJH iShares Core S&P Midcap ETF | Reduce -13.9% | 7.13% | −0.42 |
| MAC The Macerich Co. | Reduce -68.3% | 0.17% | −0.30 |
| AAPL Apple Inc. | Reduce -0.5% | 2.06% | −0.26 |
| DECK Deckers Outdoor Corp. | Reduce -85.8% | 0.02% | −0.08 |
| SRC Spirit Realty Capital Inc. | Sold out | 0.00% | −0.04 |
| ADBE Adobe Inc. | Reduce -0.5% | 0.19% | −0.04 |
| SMCI Super Micro Computer Inc. | Reduce -84.5% | 0.04% | −0.03 |
| ANSS Ansys Inc. | Reduce -52.2% | 0.03% | −0.03 |
| RUN Sunrun Inc. | Sold out | 0.00% | −0.02 |
| NARI Inari Medical Inc. | Sold out | 0.00% | −0.02 |
| LTHM Livent Corp. | Sold out | 0.00% | −0.02 |
| PHYSICIANS REALTY TRUST | Sold out | 0.00% | −0.02 |
| MPT Medical Properties Trust Inc. | Sold out | 0.00% | −0.02 |
| NKE Nike Inc. Class B | Reduce -0.3% | 0.09% | −0.01 |
| CALX Calix Inc. | Sold out | 0.00% | −0.01 |
| PDCO Patterson Cos Inc. | Sold out | 0.00% | −0.01 |
| LULU Lululemon Athletica Inc. | Reduce -0.0% | 0.04% | −0.01 |
| HUM Humana Inc. | Reduce -0.4% | 0.04% | −0.01 |
| FIVE Five Below | Reduce -0.6% | 0.06% | −0.01 |
| CCK Crown Holdings Inc. | Reduce -0.5% | 0.06% | −0.01 |
| CNXC Concentrix Corp. | Reduce -0.3% | 0.02% | −0.01 |
| CHTR Charter Communications Inc. Class A | Reduce -1.6% | 0.02% | −0.01 |
| ADI Analog Devices Inc. | Reduce -4.4% | 0.15% | −0.01 |
| PENN Penn Entertainment Inc. | Reduce -1.6% | 0.02% | −0.01 |
| WSO Watsco Inc. | Reduce -7.4% | 0.08% | −0.01 |
| BERY Berry Global Group Inc. | Reduce -1.6% | 0.04% | −0.01 |
| SBUX Starbucks Corp. | Reduce -0.7% | 0.09% | −0.00 |
| SPGI S&P Global Inc. | Reduce -0.6% | 0.11% | −0.00 |
| ON On Semiconductor | Reduce -0.5% | 0.03% | −0.00 |
| VCTR Victory Capital Holding - A | Sold out | 0.00% | −0.00 |
| BLKB Blackbaud Inc. | Reduce -2.2% | 0.02% | −0.00 |
| MDLZ Mondelez International Inc. Class A | Reduce -0.8% | 0.08% | −0.00 |
| AZTA Azenta Inc. | Reduce -7.1% | 0.02% | −0.00 |
| CMCSA Comcast Corp. Class A | Reduce -1.1% | 0.14% | −0.00 |
| PBR.A Petroleo Brasil-SP Pref ADR | Reduce -7.1% | 0.03% | −0.00 |
| RBC RBC Bearings Inc. | Reduce -0.1% | 0.05% | −0.00 |
| AIRC Apartment Income REIT Co. | Reduce -1.5% | 0.03% | −0.00 |
| HTZ Hertz Global Hldgs Inc. | Reduce -0.6% | 0.01% | −0.00 |
| EXPE Expedia Group Inc. | Reduce -1.7% | 0.01% | −0.00 |
| DLTR Dollar Tree Inc. | Reduce -0.7% | 0.02% | −0.00 |
| LMT Lockheed Martin Corp. | Reduce -2.4% | 0.08% | −0.00 |
| EXEL Exelixis Inc. | Reduce -2.3% | 0.04% | −0.00 |
| MSM MSC Industrial Direct Co. Class A | Reduce -1.2% | 0.03% | −0.00 |
| UA Under Armour Inc. Class C | Reduce -1.1% | 0.01% | −0.00 |
| ENPH Enphase Energy Inc. | Reduce -0.3% | 0.01% | −0.00 |
| VRSN Verisign Inc. | Reduce -0.5% | 0.01% | −0.00 |
| TCBI Texas Capital Bancshares Inc. | Reduce -1.4% | 0.02% | −0.00 |
Portfolio Buys Q4 2023 → Q1 2024
| EFA iShares MSCI Eafe ETF | Add +44.3% | 9.18% | +3.18 |
| NVDA Nvidia Corp. | Add +0.3% | 1.85% | +0.84 |
| IJR iShares Core S&P Small-Cap E | Add +3.0% | 10.23% | +0.52 |
| MSFT Microsoft Corp. | Add +0.2% | 2.59% | +0.28 |
| AMZN Amazon.com Inc. | Add +0.8% | 1.37% | +0.23 |
| LLY Eli Lilly & Co. | Add +0.3% | 0.51% | +0.13 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +0.3% | 0.63% | +0.10 |
| P Everpure Inc. Class A | New | 0.09% | +0.09 |
| AVGO Broadcom Inc. | Add +0.5% | 0.48% | +0.08 |
| JPM JPMorgan Chase & Co. | Add +0.3% | 0.48% | +0.07 |
| AMH American Homes 4 Rent- A | New | 0.07% | +0.07 |
| ELF Elf Beauty Inc. | New | 0.06% | +0.06 |
| VST Vistra Corp. | Add +0.3% | 0.14% | +0.06 |
| DIS The Walt Disney Co. | Add +0.5% | 0.19% | +0.05 |
| MRK Merck & Co. Inc. | Add +0.3% | 0.28% | +0.05 |
| AMD Advanced Micro Devices | Add +0.3% | 0.24% | +0.04 |
| AIT Applied Industrial Tech Inc. | New | 0.04% | +0.04 |
| GE General Electric | Add +0.3% | 0.16% | +0.04 |
| WSM Williams-Sonoma Inc. | Add +0.3% | 0.12% | +0.04 |
| ABBV Abbvie Inc. | Add +0.3% | 0.27% | +0.04 |
| CYTK Cytokinetics Inc. | New | 0.04% | +0.04 |
| EME Emcor Group Inc. | Add +0.3% | 0.10% | +0.04 |
| WHR Whirlpool Corp. | Add +606.2% | 0.04% | +0.03 |
| ZION Zions Bancorp NA | Add +604.8% | 0.04% | +0.03 |
| PG The Procter & Gamble Co. | Add +0.1% | 0.32% | +0.03 |
| MU Micron Technology Inc. | Add +0.8% | 0.11% | +0.03 |
| CAT Caterpillar Inc. | Add +0.0% | 0.15% | +0.03 |
| APPF Appfolio Inc. Class A | New | 0.03% | +0.03 |
| SWAV Shockwave Medical Inc. | Add +0.3% | 0.07% | +0.03 |
| COST Costco Wholesale Corp. | Add +0.5% | 0.27% | +0.03 |
| ORCL Oracle Corp. | Add +0.6% | 0.17% | +0.03 |
| WMT Walmart Inc. | Add +0.3% | 0.21% | +0.03 |
| UBER Uber Technologies Inc. | Add +0.3% | 0.13% | +0.03 |
| CDNS Cadence Design SYS Inc. | Add +0.1% | 0.20% | +0.03 |
| BAC Bank of America Corp. | Add +0.3% | 0.22% | +0.02 |
| CNM Core & Main Inc. Class A | Add +25.1% | 0.06% | +0.02 |
| CELH Celsius Holdings Inc. | Add +0.3% | 0.07% | +0.02 |
| KNSL Kinsale Capital Group Inc. | Add +0.3% | 0.07% | +0.02 |
| QCOM Qualcomm Inc. | Add +0.5% | 0.16% | +0.02 |
| XPO Xpo Inc. | Add +0.4% | 0.08% | +0.02 |
| PGR Progressive Corp. | Add +0.3% | 0.10% | +0.02 |
| SAIA Saia Inc. | Add +0.3% | 0.09% | +0.02 |
| BRKR Bruker Corp. | Add +1.3% | 0.10% | +0.02 |
| IBM Intl Business Machines Corp. | Add +0.5% | 0.14% | +0.02 |
| NICE Nice Ltd. - Spon ADR | Add +85.5% | 0.03% | +0.02 |
| WING Wingstop Inc. | Add +0.3% | 0.06% | +0.02 |
| RS Reliance Inc. | Add +0.3% | 0.11% | +0.02 |
| ISRG Intuitive Surgical Inc. | Add +0.3% | 0.12% | +0.02 |
| IBKR Interactive Brokers Gro Class A | Add +0.3% | 0.07% | +0.02 |
| CEG Constellation Energy | Add +0.3% | 0.05% | +0.02 |
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 |