Northwestern Mutual Investment Management Company, LLC
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 8, 2026), Northwestern Mutual Investment Management Company, LLC reported 873 stock positions worth $6.6 billion. Its top holding was iShares MSCI Eafe ETF (EFA) at 16.6% of the portfolio, followed by iShares Core S&P 500 ETF (IVV, 11.9%) and iShares Core S&P Small-Cap E (IJR, 9.9%). Compared with Q4 2025, it opened 17 new positions, sold out of 21, added to 564 and reduced 287. The biggest buy was Ishr Ibx Usd Invgd CB ETF-Ui (LQD, shares +6%) and the biggest sale Ishr Ibx Usd Hiyld CB ETF-Ui (HYG, shares −89%).
- Most Recent 13F
- Q2 2026
- Location
- MILWAUKEE, WI
- CIK
- 0001629649
- Portfolio Value
- $6.6B (Q1 2026)
- SEC Filing
- 0001629649-26-000002 ↗ filed May 8, 2026
Holdings Value
Holdings 873 stocks · $6.6B
| EFA iShares MSCI Eafe ETF | 16.63% | 11,289,341 | $1.1B | Reduce -28.3% |
| IVV iShares Core S&P 500 ETF | 11.88% | 1,199,600 | $783.6M | Reduce -20.3% |
| IJR iShares Core S&P Small-Cap E | 9.92% | 5,263,528 | $654.3M | Reduce -15.6% |
| IJH iShares Core S&P Midcap ETF | 8.77% | 8,565,258 | $578.4M | Reduce -23.5% |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | 5.69% | 3,443,454 | $375.3M | Add +6.2% |
| VOO Vanguard S&P 500 ETF | 4.96% | 547,798 | $327.3M | Reduce -40.5% |
| NVDA Nvidia Corp. | 2.06% | 777,541 | $135.6M | Add +0.1% |
| AAPL Apple Inc. | 1.81% | 469,760 | $119.2M | Reduce -0.5% |
| VCLT Vanguard Long-Term Corp. Bond | 1.51% | 1,335,590 | $99.8M | Add +5.5% |
| IGV iShares Expanded Tech-Softwa | 1.38% | 1,134,300 | $90.8M | New |
| MSFT Microsoft Corp. | 1.33% | 237,602 | $88.0M | Add +0.1% |
| AMZN Amazon.com Inc. | 0.99% | 312,576 | $65.1M | Add +0.6% |
| GOOGL Alphabet Inc. Class A | 0.81% | 186,290 | $53.6M | Add +0.2% |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 0.74% | 615,000 | $48.9M | Reduce -89.5% |
| AVGO Broadcom Inc. | 0.71% | 151,709 | $47.0M | Add +0.5% |
| AGG iShares Core U.S. Aggregate | 0.66% | 438,042 | $43.5M | Reduce -2.1% |
| GOOG Alphabet Inc. Class C | 0.65% | 149,642 | $42.9M | Add +0.7% |
| META Meta Platforms Inc. Class A | 0.61% | 69,984 | $40.0M | Add +0.6% |
| MINT PIMCO Enhanced Short Maturit | 0.52% | 342,900 | $34.5M | New |
| TSLA Tesla Inc. | 0.51% | 89,992 | $33.5M | Add +0.2% |
| USHY iShares Broad Usd High Yield | 0.44% | 783,000 | $28.8M | Reduce -89.5% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.43% | 58,676 | $28.1M | Add +0.1% |
| JPM JPMorgan Chase & Co. | 0.38% | 86,271 | $25.4M | Reduce -0.8% |
| LLY Eli Lilly & Co. | 0.35% | 25,356 | $23.3M | Reduce -0.1% |
| XOM Exxon Mobil Corp. | 0.34% | 133,718 | $22.7M | Reduce -0.8% |
| JNJ Johnson & Johnson | 0.29% | 77,111 | $18.8M | Add +0.2% |
| WMT Walmart Inc. | 0.26% | 140,265 | $17.4M | Add +0.1% |
| V Visa Inc. Class A | 0.25% | 53,792 | $16.3M | Reduce -0.2% |
| COST Costco Wholesale Corp. | 0.21% | 14,202 | $14.2M | Add +0.3% |
| MA Mastercard Inc. Class A | 0.20% | 26,059 | $13.0M | Reduce -0.5% |
| NFLX Netflix Inc. | 0.20% | 135,100 | $13.0M | Reduce -0.2% |
| CVX Chevron Corp. | 0.19% | 59,981 | $12.4M | Reduce -0.8% |
| ABBV Abbvie Inc. | 0.19% | 56,552 | $12.3M | Add +0.1% |
| MU Micron Technology Inc. | 0.18% | 36,014 | $12.2M | Add +0.4% |
| PG The Procter & Gamble Co. | 0.16% | 74,363 | $10.7M | Reduce -0.4% |
| PLTR Palantir Technologies Inc. Class A | 0.16% | 73,093 | $10.7M | Add +0.1% |
| AMD Advanced Micro Devices | 0.16% | 52,169 | $10.6M | Add +0.3% |
| CAT Caterpillar Inc. | 0.16% | 14,888 | $10.5M | Reduce -0.4% |
| HD Home Depot Inc. | 0.16% | 31,854 | $10.5M | Add +0.2% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.16% | 212,318 | $10.4M | Reduce -1.1% |
| CSCO Cisco Systems Inc. | 0.15% | 126,424 | $9.8M | Add +0.4% |
| MRK Merck & Co. Inc. | 0.14% | 79,418 | $9.6M | Add +0.1% |
| GE General Electric filed as GE AEROSPACE | 0.14% | 33,559 | $9.5M | Reduce -0.4% |
| KO The Coca-Cola Co. | 0.14% | 123,876 | $9.4M | Add +0.1% |
| FNV Franco-Nevada Corp. | 0.14% | 36,895 | $9.1M | Reduce -8.1% |
| AMAT Applied Materials Inc. | 0.13% | 25,398 | $8.7M | Reduce -0.2% |
| LRCX Lam Research Corp. | 0.13% | 39,958 | $8.5M | Reduce -0.4% |
| RTX RTX Corp. | 0.13% | 42,951 | $8.3M | Add +0.3% |
| GS Goldman Sachs Group Inc. | 0.12% | 9,597 | $8.1M | Add +0.1% |
| ORCL Oracle Corp. | 0.12% | 54,258 | $8.0M | Add +1.0% |
| WFC Wells Fargo & Co. | 0.12% | 98,955 | $7.9M | Reduce -1.3% |
| UNH Unitedhealth Group Inc. | 0.12% | 28,985 | $7.8M | Add +0.1% |
| GEV GE Vernova Inc. | 0.11% | 8,624 | $7.5M | Reduce -0.5% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.11% | 29,909 | $7.2M | Add +0.1% |
| MCD McDonald's Corp. | 0.11% | 22,788 | $7.1M | Add +0.1% |
| PEP Pepsico Inc. | 0.10% | 43,730 | $6.8M | Add +0.1% |
| VZ Verizon Communications Inc. | 0.10% | 134,934 | $6.8M | Add +0.2% |
| INTC Intel Corp. | 0.10% | 150,238 | $6.6M | Add +4.9% |
| T AT&T Inc. | 0.10% | 224,001 | $6.5M | Reduce -1.1% |
| C Citigroup Inc. | 0.10% | 55,916 | $6.3M | Reduce -2.2% |
| MS Morgan Stanley | 0.10% | 38,496 | $6.3M | Reduce -0.3% |
| NEE Nextera Energy Inc. | 0.09% | 66,639 | $6.2M | Add +0.1% |
| KLAC KLA Corp. | 0.09% | 4,194 | $6.2M | Reduce -0.1% |
| AMGN Amgen Inc. | 0.09% | 17,230 | $6.1M | Add +0.1% |
| CASY Casey's General Stores Inc. | 0.09% | 8,304 | $6.0M | Reduce -0.2% |
| TMO Thermo Fisher Scientific Inc. | 0.09% | 12,022 | $5.9M | Add +0.1% |
| UTHR United Therapeutics Corp. | 0.09% | 9,646 | $5.7M | Add +0.1% |
| ABT Abbott Laboratories | 0.09% | 55,639 | $5.7M | Add +0.1% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.09% | 35,532 | $5.7M | Reduce -0.1% |
| TXN Texas Instruments Inc. | 0.09% | 29,039 | $5.6M | Add +0.0% |
| CW Curtiss-Wright Corp. | 0.09% | 8,261 | $5.6M | Add +0.1% |
| CRM Salesforce Inc. | 0.08% | 29,982 | $5.6M | Reduce -1.4% |
| GILD Gilead Sciences Inc. | 0.08% | 39,698 | $5.5M | Add +0.1% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.08% | 56,685 | $5.5M | Reduce -0.6% |
| WPM Wheaton Precious Metals Corp. | 0.08% | 41,435 | $5.4M | Add +6.2% |
| ISRG Intuitive Surgical Inc. | 0.08% | 11,363 | $5.2M | Add +0.3% |
| AXP American Express Co. | 0.08% | 17,137 | $5.2M | Reduce -0.2% |
| COP Conocophillips | 0.08% | 39,203 | $5.2M | Reduce -0.7% |
| PFE Pfizer Inc. | 0.08% | 181,929 | $5.1M | Add +0.1% |
| XPO Xpo Inc. | 0.08% | 26,244 | $5.1M | Reduce -0.1% |
| SCHW Schwab (charles) Corp. | 0.08% | 53,446 | $5.0M | Add +0.1% |
| BA The Boeing Co. | 0.08% | 25,128 | $5.0M | Add +0.4% |
| ADI Analog Devices Inc. | 0.08% | 15,635 | $5.0M | Reduce -0.5% |
| APH Amphenol Corp. Class A | 0.08% | 39,332 | $5.0M | Add +0.6% |
| AEM Agnico Eagle Mines Ltd. | 0.07% | 24,370 | $4.9M | Add +6.2% |
| WWD Woodward Inc. | 0.07% | 13,356 | $4.8M | Reduce -0.5% |
| UBER Uber Technologies Inc. | 0.07% | 65,855 | $4.7M | Reduce -0.8% |
| RGLD Royal Gold Inc. | 0.07% | 18,151 | $4.6M | Add +0.1% |
| UNP Union Pacific Corp. | 0.07% | 18,987 | $4.6M | Add +0.2% |
| HON Honeywell International Inc. | 0.07% | 20,314 | $4.6M | Add +0.1% |
| USFD US Foods Holding Corp. | 0.07% | 49,408 | $4.6M | Reduce -0.9% |
| DE Deere & Co. | 0.07% | 8,067 | $4.5M | Add +0.4% |
| BURL Burlington Stores Inc. | 0.07% | 13,930 | $4.5M | Reduce -0.0% |
| BLK BlackRock Inc. | 0.07% | 4,617 | $4.4M | Add +0.1% |
| ATI Ati Inc. | 0.07% | 30,437 | $4.4M | Add +0.1% |
| MTZ Mastec Inc. | 0.07% | 13,742 | $4.4M | Add +0.1% |
| WELL Welltower Inc. | 0.07% | 22,326 | $4.4M | Add +1.8% |
| CRS Carpenter Technology | 0.07% | 11,158 | $4.4M | Add +0.1% |
| QCOM Qualcomm Inc. | 0.07% | 34,142 | $4.4M | Reduce -0.2% |
| BKNG Booking Holdings Inc. | 0.07% | 1,031 | $4.3M | Add +0.2% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $3.3M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| ORACLE CORP (ORCL 6.5 01/15/29 D) | 6.5 DEP CUM SR D | 72,500 | $3.3M | New |
Total filed on the 13F, all lines: $6.6B.
Portfolio Sells Q4 2025 → Q1 2026
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Reduce -89.5% | 0.74% | −4.76 |
| USHY iShares Broad Usd High Yield | Reduce -89.5% | 0.44% | −2.82 |
| JNK SS SPDR BB High Yield Bond | Sold out | 0.00% | −2.04 |
| VOO Vanguard S&P 500 ETF | Reduce -40.5% | 4.96% | −1.77 |
| EFA iShares MSCI Eafe ETF | Reduce -28.3% | 16.63% | −1.01 |
| IEFA iShares Core MSCI Eafe ETF | Reduce -89.8% | 0.03% | −0.20 |
| IVV iShares Core S&P 500 ETF | Reduce -20.3% | 11.88% | −0.14 |
| CIEN Ciena Corp. | Reduce -85.7% | 0.03% | −0.06 |
| COHR Coherent Corp. | Reduce -82.9% | 0.02% | −0.05 |
| LITE Lumentum Holdings Inc. | Reduce -85.6% | 0.02% | −0.04 |
| PNFP Pinnacle Financial Partners | Sold out | 0.00% | −0.04 |
| ECHO Echostar Corp. Class A | Reduce -85.7% | 0.01% | −0.03 |
| CMA Comerica Inc. | Sold out | 0.00% | −0.03 |
| FYBR Frontier Communications Pare | Sold out | 0.00% | −0.02 |
| CDNS Cadence Design SYS Inc. | Reduce -45.4% | 0.04% | −0.02 |
| CADE Cadence Bank | Sold out | 0.00% | −0.02 |
| KVUE Kenvue Inc. | Reduce -63.8% | 0.02% | −0.02 |
| INTU Intuit Inc. | Reduce -0.0% | 0.06% | −0.01 |
| CRM Salesforce Inc. | Reduce -1.4% | 0.08% | −0.01 |
| PCH Potlatchdeltic Corp. | Sold out | 0.00% | −0.01 |
| GTM Zoominfo Technologies Inc. | Sold out | 0.00% | −0.01 |
| ADBE Adobe Inc. | Reduce -1.8% | 0.05% | −0.01 |
| KMPR Kemper Corp. | Sold out | 0.00% | −0.01 |
| EFOR Everforth Inc. | Sold out | 0.00% | −0.01 |
| CIVI Civitas Resources Inc. | Sold out | 0.00% | −0.01 |
| DOCS Doximity Inc. Class A | Reduce -2.5% | 0.01% | −0.01 |
| DAY Dayforce Inc. | Sold out | 0.00% | −0.00 |
| WDAY Workday Inc. Class A | Reduce -1.7% | 0.01% | −0.00 |
| PINS Pinterest Inc. Class A | Reduce -1.6% | 0.04% | −0.00 |
| DOCU Docusign Inc. | Reduce -0.3% | 0.03% | −0.00 |
| MOH Molina Healthcare Inc. | Sold out | 0.00% | −0.00 |
| PAYC Paycom Software Inc. | Sold out | 0.00% | −0.00 |
| CVLT Commvault Systems Inc. | Reduce -0.1% | 0.01% | −0.00 |
| MTCH Match Group Inc. | Sold out | 0.00% | −0.00 |
| BRBR Bellring Brands Inc. | Reduce -6.8% | 0.01% | −0.00 |
| LW Lamb Weston Holdings Inc. | Sold out | 0.00% | −0.00 |
| COF Capital One Financial Corp. | Reduce -1.5% | 0.06% | −0.00 |
| CPB The Campbell's Company | Sold out | 0.00% | −0.00 |
| BF.B Brown-Forman Corp. Class B | Sold out | 0.00% | −0.00 |
| NTNX Nutanix Inc. Class A | Reduce -0.0% | 0.03% | −0.00 |
| PSKY Paramount Skydance Class B | Sold out | 0.00% | −0.00 |
| QCOM Qualcomm Inc. | Reduce -0.2% | 0.07% | −0.00 |
| DVA Davita Inc. | Sold out | 0.00% | −0.00 |
| PCTY Paylocity Holding Corp. | Reduce -0.8% | 0.02% | −0.00 |
| BLKB Blackbaud Inc. | Reduce -2.3% | 0.00% | −0.00 |
| IT Gartner Inc. | Reduce -2.1% | 0.01% | −0.00 |
| NWS News Corp. Class B | Sold out | 0.00% | −0.00 |
| EXLS Exlservice Holdings Inc. | Reduce -0.8% | 0.02% | −0.00 |
| ANF Abercrombie & Fitch Co. Class A | Reduce -2.5% | 0.01% | −0.00 |
| BILL Bill Holdings Inc. | Reduce -1.1% | 0.01% | −0.00 |
Portfolio Buys Q4 2025 → Q1 2026
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | Add +6.2% | 5.69% | +1.52 |
| IGV iShares Expanded Tech-Softwa | New | 1.38% | +1.38 |
| MINT PIMCO Enhanced Short Maturit | New | 0.52% | +0.52 |
| VCLT Vanguard Long-Term Corp. Bond | Add +5.5% | 1.51% | +0.39 |
| NVDA Nvidia Corp. | Add +0.1% | 2.06% | +0.37 |
| AMZN Amazon.com Inc. | Add +0.6% | 0.99% | +0.15 |
| GOOGL Alphabet Inc. Class A | Add +0.2% | 0.81% | +0.13 |
| GOOG Alphabet Inc. Class C | Add +0.7% | 0.65% | +0.11 |
| AVGO Broadcom Inc. | Add +0.5% | 0.71% | +0.10 |
| JNJ Johnson & Johnson | Add +0.2% | 0.29% | +0.10 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +0.1% | 0.43% | +0.08 |
| WMT Walmart Inc. | Add +0.1% | 0.26% | +0.08 |
| COST Costco Wholesale Corp. | Add +0.3% | 0.21% | +0.07 |
| META Meta Platforms Inc. Class A | Add +0.6% | 0.61% | +0.07 |
| MU Micron Technology Inc. | Add +0.4% | 0.18% | +0.07 |
| MRK Merck & Co. Inc. | Add +0.1% | 0.14% | +0.05 |
| VRT Vertiv Holdings Co. Class A | New | 0.05% | +0.05 |
| PNFP Pinnacle Financial Partners | New | 0.04% | +0.04 |
| KO The Coca-Cola Co. | Add +0.1% | 0.14% | +0.04 |
| AEIS Advanced Energy Industries | New | 0.04% | +0.04 |
| SOLS Solstice Adv Materials Inc. | New | 0.04% | +0.04 |
| INTC Intel Corp. | Add +4.9% | 0.10% | +0.04 |
| VZ Verizon Communications Inc. | Add +0.2% | 0.10% | +0.04 |
| TSLA Tesla Inc. | Add +0.2% | 0.51% | +0.04 |
| ABBV Abbvie Inc. | Add +0.1% | 0.19% | +0.04 |
| CSCO Cisco Systems Inc. | Add +0.4% | 0.15% | +0.04 |
| TTMI TTM Technologies | New | 0.03% | +0.03 |
| RTX RTX Corp. | Add +0.3% | 0.13% | +0.03 |
| SNDK Sandisk Corp. | Add +6.1% | 0.05% | +0.03 |
| CW Curtiss-Wright Corp. | Add +0.1% | 0.09% | +0.03 |
| MTZ Mastec Inc. | Add +0.1% | 0.07% | +0.03 |
| UTHR United Therapeutics Corp. | Add +0.1% | 0.09% | +0.03 |
| NEE Nextera Energy Inc. | Add +0.1% | 0.09% | +0.03 |
| HD Home Depot Inc. | Add +0.2% | 0.16% | +0.03 |
| AMD Advanced Micro Devices | Add +0.3% | 0.16% | +0.03 |
| OVV Ovintiv Inc. | Add +9.8% | 0.06% | +0.03 |
| ARWR Arrowhead Pharmaceuticals Inc. | New | 0.03% | +0.03 |
| PEP Pepsico Inc. | Add +0.1% | 0.10% | +0.03 |
| AEM Agnico Eagle Mines Ltd. | Add +6.2% | 0.07% | +0.03 |
| WPM Wheaton Precious Metals Corp. | Add +6.2% | 0.08% | +0.03 |
| AHR American Healthcare REIT Inc. | New | 0.03% | +0.03 |
| MOG.A Moog Inc. Class A | New | 0.03% | +0.03 |
| PR Permian Resources Corp. Class A | Add +6.8% | 0.05% | +0.03 |
| CTRE Caretrust REIT Inc. | New | 0.03% | +0.03 |
| ENTG Entegris Inc. | Add +0.4% | 0.06% | +0.03 |
| GILD Gilead Sciences Inc. | Add +0.1% | 0.08% | +0.03 |
| NXT Nextpower Inc. | Add +0.2% | 0.06% | +0.03 |
| TXN Texas Instruments Inc. | Add +0.0% | 0.09% | +0.03 |
| ATI Ati Inc. | Add +0.1% | 0.07% | +0.03 |
| IDCC Interdigital Inc. | New | 0.03% | +0.03 |
Notes & Other Activity Q4 2025 → Q1 2026
| ORACLE CORP (ORCL 6.5 01/15/29 D) | 6.5 DEP CUM SR D | New | 72,500 | $3.3M |
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 |