NORTHWESTERN MUTUAL INVESTMENT MANAGEMENT COMPANY, LLC
Long book
$6.60B
Q1 2026
Positions
874
Top-10 weight
65%
concentration
Last quarter
+12.5%
SPY +14.8%
Turnover
4%
of book per quarter
Strategy in plain words
auto-generated from filingsNORTHWESTERN MUTUAL INVESTMENT MANAGEMENT COMPANY, LLC is an insurance company managing float, running a $6.60B US long book across 874 positions.
The portfolio is concentrated: the top 10 names carry 65% of the portfolio. The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: ISHARES MSCI EAFE ETF, ISHARES CORE S&P 500 ETF, ISHARES CORE S&P SMALL-CAP E, ISHARES CORE S&P MIDCAP ETF, ISHR IBX USD INVGD CB ETF-UI.
Over the last 9 quarters its long book ran on average 0.6pp per quarter behind the S&P 500, beating the index in 3 of 9 quarters. Its holdings are mechanical (indexing / client flows), so position changes carry no stock-picking signal.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+1.2%
Q2 2024
+6.7%
Q3 2024
+0.1%
Q4 2024
-2.7%
Q1 2025
+8.9%
Q2 2025
+6.9%
Q3 2025
+2.6%
Q4 2025
-0.9%
Q1 2026
+12.5%
Sector allocation
Technology 34%
Industrials 14%
Financials 12%
Consumer discretionary 10%
Healthcare 8%
Services media 5%
Utilities 4%
Other 4%
Long book by quarter
What does NORTHWESTERN MUTUAL own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| NVDA NVIDIA CORP | Technology | 777.5K | $135.6M | 2.1% | +0.1% |
| AAPL APPLE INC | Technology | 469.8K | $119.2M | 1.8% | -0.5% |
| MSFT MICROSOFT CORP | Technology | 237.6K | $88.0M | 1.3% | +0.1% |
| AMZN AMAZON.COM INC | Consumer discretionary | 312.6K | $65.1M | 1.0% | +0.6% |
| GOOGL ALPHABET INC-CL A | Technology | 186.3K | $53.6M | 0.8% | +0.2% |
| AVGO BROADCOM INC | Technology | 151.7K | $47.0M | 0.7% | +0.5% |
| GOOG ALPHABET INC-CL C | Technology | 149.6K | $42.9M | 0.7% | +0.7% |
| META META PLATFORMS INC-CLASS A | Technology | 70.0K | $40.0M | 0.6% | +0.6% |
| TSLA TESLA INC | Industrials | 90.0K | $33.5M | 0.5% | +0.2% |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 58.7K | $28.1M | 0.4% | +0.1% |
| JPM JPMORGAN CHASE & CO | Financials | 86.3K | $25.4M | 0.4% | -0.8% |
| LLY ELI LILLY & CO | Healthcare | 25.4K | $23.3M | 0.4% | -0.1% |
| XOM EXXON MOBIL CORP | Energy | 133.7K | $22.7M | 0.3% | -0.8% |
| JNJ JOHNSON & JOHNSON | Healthcare | 77.1K | $18.8M | 0.3% | +0.2% |
| WMT WALMART INC | Consumer discretionary | 140.3K | $17.4M | 0.3% | +0.1% |
| V VISA INC-CLASS A SHARES | Services media | 53.8K | $16.3M | 0.2% | -0.2% |
| COST COSTCO WHOLESALE CORP | Consumer discretionary | 14.2K | $14.2M | 0.2% | +0.3% |
| MA MASTERCARD INC - A | Services media | 26.1K | $13.0M | 0.2% | -0.5% |
| NFLX NETFLIX INC | Services media | 135.1K | $13.0M | 0.2% | -0.2% |
| CVX CHEVRON CORP | Energy | 60.0K | $12.4M | 0.2% | -0.8% |
| ABBV ABBVIE INC | Healthcare | 56.6K | $12.3M | 0.2% | +0.1% |
| MU MICRON TECHNOLOGY INC | Technology | 36.0K | $12.2M | 0.2% | +0.4% |
| PG PROCTER & GAMBLE CO/THE | Other | 74.4K | $10.7M | 0.2% | -0.4% |
| PLTR PALANTIR TECHNOLOGIES INC-A | Technology | 73.1K | $10.7M | 0.2% | +0.1% |
| AMD ADVANCED MICRO DEVICES | Technology | 52.2K | $10.6M | 0.2% | +0.3% |
| CAT CATERPILLAR INC | Industrials | 14.9K | $10.5M | 0.2% | -0.4% |
| HD HOME DEPOT INC | Consumer discretionary | 31.9K | $10.5M | 0.2% | +0.2% |
| BAC BANK OF AMERICA CORP | Financials | 212.3K | $10.4M | 0.2% | -1.1% |
| CSCO CISCO SYSTEMS INC | Technology | 126.4K | $9.8M | 0.1% | +0.4% |
| MRK MERCK & CO. INC. | Healthcare | 79.4K | $9.6M | 0.1% | +0.1% |
| GE GENERAL ELECTRIC | Industrials | 33.6K | $9.5M | 0.1% | -0.4% |
| KO COCA-COLA CO/THE | Consumer staples | 123.9K | $9.4M | 0.1% | +0.1% |
| FNV FRANCO-NEVADA CORP | Materials | 36.9K | $9.1M | 0.1% | -8.1% |
| AMAT APPLIED MATERIALS INC | Technology | 25.4K | $8.7M | 0.1% | -0.2% |
| LRCX LAM RESEARCH CORP | Industrials | 40.0K | $8.5M | 0.1% | -0.4% |
| RTX RTX CORP | Industrials | 43.0K | $8.3M | 0.1% | +0.3% |
| GS GOLDMAN SACHS GROUP INC | Financials | 9.6K | $8.1M | 0.1% | +0.1% |
| ORCL ORACLE CORP | Technology | 54.3K | $8.0M | 0.1% | +1.0% |
| WFC WELLS FARGO & CO | Financials | 99.0K | $7.9M | 0.1% | -1.3% |
| UNH UNITEDHEALTH GROUP INC | Financials | 29.0K | $7.8M | 0.1% | +0.1% |
| GEV GE VERNOVA INC | Industrials | 8.6K | $7.5M | 0.1% | -0.5% |
| IBM INTL BUSINESS MACHINES CORP | Technology | 29.9K | $7.2M | 0.1% | +0.1% |
| MCD MCDONALD'S CORP | Consumer discretionary | 22.8K | $7.1M | 0.1% | +0.1% |
| PEP PEPSICO INC | Consumer staples | 43.7K | $6.8M | 0.1% | +0.1% |
| VZ VERIZON COMMUNICATIONS INC | Communications | 134.9K | $6.8M | 0.1% | +0.2% |
| INTC INTEL CORP | Technology | 150.2K | $6.6M | 0.1% | +4.9% |
| T AT&T INC | Communications | 224.0K | $6.5M | 0.1% | -1.1% |
| C CITIGROUP INC | Financials | 55.9K | $6.3M | 0.1% | -2.2% |
| MS MORGAN STANLEY | Financials | 38.5K | $6.3M | 0.1% | -0.3% |
| NEE NEXTERA ENERGY INC | Utilities | 66.6K | $6.2M | 0.1% | +0.1% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 8, 2026 | 874 | $6.60B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 5, 2026 | 877 | $8.57B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 7, 2025 | 877 | $6.91B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 12, 2025 | 879 | $6.50B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 14, 2025 | 877 | $6.30B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 11, 2025 | 875 | $4.53B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 13, 2024 | 874 | $4.29B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 15, 2024 | 876 | $3.87B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 877 | $3.83B | canonical | SEC ↗ |