Northwestern Mutual Investment Management Company, LLC
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 11, 2025), Northwestern Mutual Investment Management Company, LLC reported 875 stock positions worth $4.5 billion. Its top holding was iShares MSCI Eafe ETF (EFA) at 14.4% of the portfolio, followed by iShares Core S&P Small-Cap E (IJR, 9.5%) and iShares Core S&P 500 ETF (IVV, 7.1%). Compared with Q3 2024, it opened 11 new positions, sold out of 10, added to 518 and reduced 338. The biggest buy was Ishr Ibx Usd Invgd CB ETF-Ui (LQD, shares +2930%) and the biggest sale iShares Core S&P 500 ETF (IVV, shares −26%).
- Most Recent 13F
- Q2 2026
- Location
- MILWAUKEE, WI
- CIK
- 0001629649
- Portfolio Value
- $4.5B (Q4 2024)
- SEC Filing
- 0001085146-25-000993 ↗ filed Feb 11, 2025
Holdings Value
Holdings 875 stocks · $4.5B
| EFA iShares MSCI Eafe ETF | 14.38% | 8,608,551 | $650.9M | Add +30.4% |
| IJR iShares Core S&P Small-Cap E | 9.50% | 3,731,423 | $429.9M | Reduce -1.4% |
| IVV iShares Core S&P 500 ETF | 7.06% | 542,500 | $319.4M | Reduce -26.4% |
| IJH iShares Core S&P Midcap ETF | 6.74% | 4,892,506 | $304.9M | Reduce -7.1% |
| VOO Vanguard S&P 500 ETF | 6.37% | 534,556 | $288.0M | Reduce -8.3% |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | 6.19% | 2,620,567 | $280.0M | Add +2929.6% |
| AAPL Apple Inc. | 2.66% | 479,943 | $120.2M | Reduce -0.4% |
| NVDA Nvidia Corp. | 2.31% | 778,852 | $104.6M | Reduce -0.1% |
| MSFT Microsoft Corp. | 2.20% | 236,066 | $99.5M | Add +0.2% |
| AMZN Amazon.com Inc. | 1.44% | 297,137 | $65.2M | Add +0.4% |
| IEFA iShares Core MSCI Eafe ETF | 1.10% | 711,338 | $50.0M | No change |
| META Meta Platforms Inc. Class A | 0.90% | 69,218 | $40.5M | Reduce -0.0% |
| TSLA Tesla Inc. | 0.79% | 88,672 | $35.8M | Add +0.8% |
| GOOGL Alphabet Inc. Class A | 0.78% | 185,521 | $35.1M | Reduce -0.1% |
| AVGO Broadcom Inc. | 0.76% | 148,296 | $34.4M | Add +0.5% |
| AGG iShares Core U.S. Aggregate | 0.66% | 307,415 | $29.8M | Reduce -5.5% |
| GOOG Alphabet Inc. Class C | 0.64% | 151,111 | $28.8M | Reduce -0.7% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.58% | 58,199 | $26.4M | Add +0.3% |
| JPM JPMorgan Chase & Co. | 0.47% | 89,390 | $21.4M | Reduce -0.9% |
| LLY Eli Lilly & Co. | 0.43% | 25,018 | $19.3M | Add +0.1% |
| V Visa Inc. Class A | 0.38% | 54,869 | $17.3M | Add +3.6% |
| XOM Exxon Mobil Corp. | 0.33% | 139,549 | $15.0M | Reduce -0.9% |
| UNH Unitedhealth Group Inc. | 0.33% | 29,220 | $14.8M | Reduce -0.2% |
| MA Mastercard Inc. Class A | 0.30% | 26,026 | $13.7M | Reduce -0.5% |
| COST Costco Wholesale Corp. | 0.28% | 14,068 | $12.9M | Add +0.1% |
| PG The Procter & Gamble Co. | 0.28% | 74,776 | $12.5M | Add +0.2% |
| WMT Walmart Inc. | 0.28% | 137,820 | $12.5M | Add +0.1% |
| HD Home Depot Inc. | 0.27% | 31,539 | $12.3M | Add +0.3% |
| NFLX Netflix Inc. | 0.27% | 13,572 | $12.1M | Reduce -0.2% |
| JNJ Johnson & Johnson | 0.24% | 76,445 | $11.1M | Add +0.2% |
| CRM Salesforce Inc. | 0.22% | 30,354 | $10.1M | Reduce -1.2% |
| ABBV Abbvie Inc. | 0.22% | 56,109 | $10.0M | Add +0.2% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.21% | 211,951 | $9.3M | Reduce -0.9% |
| ORCL Oracle Corp. | 0.19% | 51,031 | $8.5M | Add +0.7% |
| MRK Merck & Co. Inc. | 0.18% | 80,318 | $8.0M | Reduce -0.0% |
| CVX Chevron Corp. | 0.17% | 53,065 | $7.7M | Reduce -1.6% |
| KO The Coca-Cola Co. | 0.17% | 123,099 | $7.7M | Add +0.1% |
| CSCO Cisco Systems Inc. | 0.17% | 126,560 | $7.5M | Reduce -0.9% |
| WFC Wells Fargo & Co. | 0.16% | 105,715 | $7.4M | Reduce -2.0% |
| NOW ServiceNow Inc. | 0.15% | 6,540 | $6.9M | Add +0.2% |
| PEP Pepsico Inc. | 0.15% | 43,562 | $6.6M | Add +0.1% |
| MCD McDonald's Corp. | 0.15% | 22,754 | $6.6M | Add +0.1% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.14% | 29,359 | $6.5M | Add +0.6% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.14% | 57,500 | $6.4M | Add +0.0% |
| TMO Thermo Fisher Scientific Inc. | 0.14% | 12,144 | $6.3M | Add +0.3% |
| ABT Abbott Laboratories | 0.14% | 55,070 | $6.2M | Reduce -0.1% |
| AMD Advanced Micro Devices | 0.14% | 51,526 | $6.2M | Add +0.5% |
| ADBE Adobe Inc. | 0.14% | 13,976 | $6.2M | Reduce -0.6% |
| ISRG Intuitive Surgical Inc. | 0.13% | 11,309 | $5.9M | Add +0.6% |
| GE General Electric filed as GE AEROSPACE | 0.13% | 34,364 | $5.7M | Reduce -0.0% |
| GS Goldman Sachs Group Inc. | 0.13% | 9,966 | $5.7M | Reduce -0.4% |
| INTU Intuit Inc. | 0.12% | 8,899 | $5.6M | Add +0.5% |
| CAT Caterpillar Inc. | 0.12% | 15,329 | $5.6M | Reduce -0.3% |
| TXN Texas Instruments Inc. | 0.12% | 28,964 | $5.4M | Add +0.1% |
| QCOM Qualcomm Inc. | 0.12% | 35,275 | $5.4M | Reduce -0.1% |
| VZ Verizon Communications Inc. | 0.12% | 133,659 | $5.3M | Add +0.2% |
| ADI Analog Devices Inc. | 0.12% | 24,913 | $5.3M | Add +0.1% |
| AXP American Express Co. | 0.12% | 17,670 | $5.2M | Reduce -0.7% |
| BKNG Booking Holdings Inc. | 0.12% | 1,051 | $5.2M | Reduce -1.1% |
| WSM Williams-Sonoma Inc. | 0.11% | 28,079 | $5.2M | Reduce -1.6% |
| T AT&T Inc. | 0.11% | 227,823 | $5.2M | Add +0.3% |
| FNV Franco-Nevada Corp. | 0.11% | 43,746 | $5.1M | Add +1.3% |
| SPGI S&P Global Inc. | 0.11% | 10,081 | $5.0M | Reduce -0.7% |
| MS Morgan Stanley | 0.11% | 39,386 | $5.0M | Reduce -0.2% |
| PLTR Palantir Technologies Inc. Class A | 0.11% | 65,084 | $4.9M | Add +2.0% |
| RTX RTX Corp. | 0.11% | 42,262 | $4.9M | Add +0.2% |
| CDNS Cadence Design SYS Inc. | 0.11% | 16,105 | $4.8M | Reduce -34.1% |
| PFE Pfizer Inc. | 0.11% | 179,932 | $4.8M | Add +0.2% |
| BLK BlackRock Inc. | 0.10% | 4,623 | $4.7M | Add +4.8% |
| ILMN Illumina Inc. | 0.10% | 35,249 | $4.7M | Reduce -0.3% |
| DHR Danaher Corp. | 0.10% | 20,411 | $4.7M | Add +0.2% |
| NEE Nextera Energy Inc. | 0.10% | 65,294 | $4.7M | Add +0.3% |
| HON Honeywell International Inc. | 0.10% | 20,646 | $4.7M | Add +0.0% |
| EXE Expand Energy Corp. | 0.10% | 46,726 | $4.7M | Add +2.3% |
| EME Emcor Group Inc. | 0.10% | 10,224 | $4.6M | Reduce -1.2% |
| CMCSA Comcast Corp. Class A | 0.10% | 121,197 | $4.5M | Reduce -1.0% |
| PGR Progressive Corp. | 0.10% | 18,600 | $4.5M | Add +0.2% |
| AMGN Amgen Inc. | 0.10% | 17,066 | $4.4M | Add +0.2% |
| LOW Lowe's Cos Inc. | 0.10% | 18,012 | $4.4M | Reduce -0.3% |
| UNP Union Pacific Corp. | 0.10% | 19,248 | $4.4M | Reduce -0.3% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.10% | 35,811 | $4.3M | Reduce -0.0% |
| IBKR Interactive Brokers Gro Class A | 0.09% | 24,198 | $4.3M | Add +0.2% |
| AMAT Applied Materials Inc. | 0.09% | 26,175 | $4.3M | Reduce -0.3% |
| P Everpure Inc. Class A filed as PURE STORAGE INC | 0.09% | 69,187 | $4.3M | Add +0.9% |
| C Citigroup Inc. | 0.09% | 60,050 | $4.2M | Reduce -0.7% |
| BA The Boeing Co. | 0.09% | 23,736 | $4.2M | Add +27.9% |
| BSX Boston Scientific Corp. | 0.09% | 46,796 | $4.2M | Add +0.3% |
| COP Conocophillips | 0.09% | 41,071 | $4.1M | Add +11.6% |
| DOCU Docusign Inc. | 0.09% | 45,110 | $4.1M | New |
| UBER Uber Technologies Inc. | 0.09% | 66,859 | $4.0M | Add +0.4% |
| BURL Burlington Stores Inc. | 0.09% | 13,997 | $4.0M | Reduce -0.1% |
| BX Blackstone Inc. | 0.09% | 22,925 | $4.0M | Add +0.5% |
| SYK Stryker Corp. | 0.09% | 10,893 | $3.9M | Add +0.2% |
| ADP Automatic Data Processing | 0.08% | 12,937 | $3.8M | Add +0.1% |
| PANW Palo Alto Networks Inc. | 0.08% | 20,780 | $3.8M | Add +1.2% |
| A Agilent Technologies Inc. | 0.08% | 28,067 | $3.8M | Add +1.8% |
| FISV Fiserv Inc. | 0.08% | 18,064 | $3.7M | Reduce -1.0% |
| CSL Carlisle Cos Inc. | 0.08% | 10,046 | $3.7M | Reduce -1.8% |
| RBA RB Global Inc. | 0.08% | 40,986 | $3.7M | Add +0.3% |
| WSO Watsco Inc. | 0.08% | 7,741 | $3.7M | Add +0.3% |
Portfolio Sells Q3 2024 → Q4 2024
| IVV iShares Core S&P 500 ETF | Reduce -26.4% | 7.06% | −2.86 |
| IJH iShares Core S&P Midcap ETF | Reduce -7.1% | 6.74% | −0.92 |
| IJR iShares Core S&P Small-Cap E | Reduce -1.4% | 9.50% | −0.83 |
| VOO Vanguard S&P 500 ETF | Reduce -8.3% | 6.37% | −0.81 |
| AGG iShares Core U.S. Aggregate | Reduce -5.5% | 0.66% | −0.11 |
| LII Lennox International Inc. | Reduce -85.7% | 0.01% | −0.09 |
| UNH Unitedhealth Group Inc. | Reduce -0.2% | 0.33% | −0.07 |
| TPL Texas Pacific Land Corp. | Reduce -85.7% | 0.01% | −0.07 |
| XOM Exxon Mobil Corp. | Reduce -0.9% | 0.33% | −0.05 |
| CDNS Cadence Design SYS Inc. | Reduce -34.1% | 0.11% | −0.05 |
| MRK Merck & Co. Inc. | Reduce -0.0% | 0.18% | −0.04 |
| ADBE Adobe Inc. | Reduce -0.6% | 0.14% | −0.03 |
| REGN Regeneron Pharmaceuticals | Reduce -0.6% | 0.05% | −0.03 |
| AMAT Applied Materials Inc. | Reduce -0.3% | 0.09% | −0.03 |
| SRCL Stericycle Inc. | Sold out | 0.00% | −0.03 |
| META Meta Platforms Inc. Class A | Reduce -0.0% | 0.90% | −0.03 |
| MDU Mdu Resources Group Inc. | Sold out | 0.00% | −0.03 |
| CSL Carlisle Cos Inc. | Reduce -1.8% | 0.08% | −0.03 |
| GE General Electric | Reduce -0.0% | 0.13% | −0.02 |
| THC Tenet Healthcare Corp. | Reduce -0.6% | 0.06% | −0.02 |
| WING Wingstop Inc. | Reduce -0.1% | 0.04% | −0.02 |
| QCOM Qualcomm Inc. | Reduce -0.1% | 0.12% | −0.02 |
| LMT Lockheed Martin Corp. | Reduce -0.4% | 0.07% | −0.02 |
| TOL Toll Brothers Inc. | Reduce -1.5% | 0.06% | −0.02 |
| BRKR Bruker Corp. | Reduce -7.9% | 0.06% | −0.02 |
| CMCSA Comcast Corp. Class A | Reduce -1.0% | 0.10% | −0.02 |
| BLD Topbuild Corp. | Reduce -2.0% | 0.04% | −0.02 |
| KLAC KLA Corp. | Reduce -0.3% | 0.06% | −0.02 |
| CI The Cigna Group | Reduce -0.3% | 0.05% | −0.02 |
| HCA HCA Healthcare Inc. | Reduce -1.7% | 0.04% | −0.02 |
| CAT Caterpillar Inc. | Reduce -0.3% | 0.12% | −0.02 |
| VRTX Vertex Pharmaceuticals Inc. | Reduce -0.1% | 0.07% | −0.02 |
| LOW Lowe's Cos Inc. | Reduce -0.3% | 0.10% | −0.02 |
| NEM Newmont Corp. | Reduce -0.6% | 0.03% | −0.02 |
| CVX Chevron Corp. | Reduce -1.6% | 0.17% | −0.02 |
| NKE Nike Inc. Class B | Reduce -0.7% | 0.06% | −0.02 |
| UNP Union Pacific Corp. | Reduce -0.3% | 0.10% | −0.01 |
| ZTS Zoetis Inc. | Reduce -0.2% | 0.05% | −0.01 |
| LRCX Lam Research Corp. | Reduce -1.1% | 0.07% | −0.01 |
| CROX Crocs Inc. | Reduce -1.7% | 0.03% | −0.01 |
| DHI D.R. Horton Inc. | Reduce -0.4% | 0.03% | −0.01 |
| AZTA Azenta Inc. | Sold out | 0.00% | −0.01 |
| CRI Carter's Inc. | Sold out | 0.00% | −0.01 |
| RCM R1 RCM Inc. | Sold out | 0.00% | −0.01 |
| SPGI S&P Global Inc. | Reduce -0.7% | 0.11% | −0.01 |
| CCK Crown Holdings Inc. | Reduce -0.7% | 0.05% | −0.01 |
| VSH Vishay Intertechnology Inc. | Sold out | 0.00% | −0.01 |
| MRO Marathon Oil Corp. | Sold out | 0.00% | −0.01 |
| RS Reliance Inc. | Reduce -1.5% | 0.07% | −0.01 |
| LEN Lennar Corp. Class A | Reduce -1.0% | 0.02% | −0.01 |
Portfolio Buys Q3 2024 → Q4 2024
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | Add +2929.6% | 6.19% | +5.96 |
| EFA iShares MSCI Eafe ETF | Add +30.4% | 14.38% | +1.50 |
| TSLA Tesla Inc. | Add +0.8% | 0.79% | +0.25 |
| AVGO Broadcom Inc. | Add +0.5% | 0.76% | +0.17 |
| AMZN Amazon.com Inc. | Add +0.4% | 1.44% | +0.15 |
| DOCU Docusign Inc. | New | 0.09% | +0.09 |
| PLTR Palantir Technologies Inc. Class A | Add +2.0% | 0.11% | +0.05 |
| APO Apollo Global Management Inc. | New | 0.05% | +0.05 |
| MLI Mueller Industries Inc. | New | 0.04% | +0.04 |
| V Visa Inc. Class A | Add +3.6% | 0.38% | +0.04 |
| CRS Carpenter Technology | New | 0.04% | +0.04 |
| CMA Comerica Inc. | New | 0.04% | +0.04 |
| BILL Bill Holdings Inc. | New | 0.04% | +0.04 |
| WDAY Workday Inc. Class A | New | 0.04% | +0.04 |
| FOUR SHIFT4 Payments Inc. Class A | New | 0.04% | +0.04 |
| KVUE Kenvue Inc. | Add +135.6% | 0.07% | +0.03 |
| CHWY Chewy Inc. Class A | New | 0.03% | +0.03 |
| BA The Boeing Co. | Add +27.9% | 0.09% | +0.03 |
| WAT Waters Corp. | Add +124.5% | 0.03% | +0.02 |
| AAL American Airlines Group Inc. | Add +0.2% | 0.06% | +0.02 |
| NOW ServiceNow Inc. | Add +0.2% | 0.15% | +0.02 |
| GME Gamestop Corp. Class A | Add +4.9% | 0.06% | +0.02 |
| IBKR Interactive Brokers Gro Class A | Add +0.2% | 0.09% | +0.02 |
| WMT Walmart Inc. | Add +0.1% | 0.28% | +0.02 |
| EXE Expand Energy Corp. | Add +2.3% | 0.10% | +0.02 |
| CIEN Ciena Corp. | Add +0.7% | 0.06% | +0.01 |
| P Everpure Inc. Class A | Add +0.9% | 0.09% | +0.01 |
| DIS The Walt Disney Co. | Add +0.0% | 0.14% | +0.01 |
| GTLS Chart Industries Inc. | Add +0.2% | 0.04% | +0.01 |
| KD Kyndryl Holdings Inc. | Add +0.6% | 0.04% | +0.01 |
| GEV GE Vernova Inc. | Add +0.5% | 0.06% | +0.01 |
| JEF Jefferies Financial Group Inc. | Add +0.2% | 0.06% | +0.01 |
| SMCI Super Micro Computer Inc. | New | 0.01% | +0.01 |
| XPO Xpo Inc. | Add +0.2% | 0.07% | +0.01 |
| AXON Axon Enterprise Inc. | Add +1.1% | 0.03% | +0.01 |
| UAL United Airlines Holdings Inc. | Add +0.2% | 0.02% | +0.01 |
| EXEL Exelixis Inc. | Add +0.3% | 0.05% | +0.01 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +1.0% | 0.06% | +0.01 |
| DTM DT Midstream Inc. | Add +0.2% | 0.05% | +0.01 |
| NBIX Neurocrine Biosciences Inc. | Add +0.4% | 0.07% | +0.01 |
| BRBR Bellring Brands Inc. | Add +0.2% | 0.05% | +0.01 |
| AR Antero Resources Corp. | Add +0.2% | 0.05% | +0.01 |
| ANET Arista Networks Inc. | Add +0.4% | 0.08% | +0.01 |
| BLK BlackRock Inc. | Add +4.8% | 0.10% | +0.01 |
| LITE Lumentum Holdings Inc. | Add +1.4% | 0.03% | +0.01 |
| SCHW Schwab (charles) Corp. | Add +0.3% | 0.08% | +0.01 |
| BX Blackstone Inc. | Add +0.5% | 0.09% | +0.01 |
| EWBC East West Bancorp Inc. | Add +0.2% | 0.07% | +0.01 |
| FTNT Fortinet Inc. | Add +0.4% | 0.04% | +0.01 |
| DUOL Duolingo | Add +1.4% | 0.06% | +0.01 |
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 |