NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO
Long book
$162.43B
Q1 2026
Positions
4113
Top-10 weight
47%
concentration
Last quarter
+11.8%
SPY +14.8%
Turnover
23%
of book per quarter
Strategy in plain words
auto-generated from filingsNORTHWESTERN MUTUAL WEALTH MANAGEMENT CO is an insurance company managing float, running a $162.43B US long book across 4113 positions.
The portfolio is moderately concentrated (top 10 ≈ 47% of the book). Turnover is modest: positions are typically held for years. Current anchor positions: ISHARES CORE S&P 500 ETF, VANGUARD TOTAL BOND MARKET, ISHARES CORE S&P MIDCAP ETF, SCHWAB INTL EQUITY ETF, ISHARES CORE S&P SMALL-CAP E.
Over the last 9 quarters its long book ran on average 0.8pp 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
+1.3%
Q2 2024
+6.5%
Q3 2024
-1.5%
Q4 2024
-0.9%
Q1 2025
+8.1%
Q2 2025
+6.4%
Q3 2025
+2.7%
Q4 2025
-0.7%
Q1 2026
+11.8%
Sector allocation
Technology 44%
Financials 11%
Consumer discretionary 11%
Industrials 10%
Healthcare 6%
Services media 5%
Energy 4%
Other 3%
Long book by quarter
What does NORTHWESTERN MUTUAL own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| NVDA NVIDIA CORP | Technology | 5.8M | $1.01B | 0.6% | +3.6% |
| AAPL APPLE INC | Technology | 3.7M | $932.3M | 0.6% | -0.9% |
| MSFT MICROSOFT CORP | Technology | 2.2M | $831.9M | 0.5% | +11.5% |
| AMZN AMAZON.COM INC | Consumer discretionary | 3.6M | $758.6M | 0.5% | +3.7% |
| GOOGL ALPHABET INC-CL A | Technology | 2.3M | $650.0M | 0.4% | -3.2% |
| META META PLATFORMS INC-CLASS A | Technology | 692.6K | $396.3M | 0.2% | +3.1% |
| AVGO BROADCOM INC | Technology | 1.1M | $342.1M | 0.2% | +40.0% |
| JPM JPMORGAN CHASE & CO | Financials | 1.1M | $334.6M | 0.2% | +1.7% |
| GOOG ALPHABET INC-CL C | Technology | 1.1M | $323.3M | 0.2% | +5.9% |
| LLY ELI LILLY & CO | Healthcare | 242.7K | $223.2M | 0.1% | +3.5% |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 441.8K | $211.7M | 0.1% | -1.3% |
| COST COSTCO WHOLESALE CORP | Consumer discretionary | 192.1K | $191.4M | 0.1% | +3.0% |
| V VISA INC-CLASS A SHARES | Services media | 579.3K | $175.1M | 0.1% | +6.3% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 7, 2026 | 4113 | $162.43B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR/ARESTATEMENT | Feb 10, 2026 | 4007 | $158.12B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 5, 2026 | 3869 | $158.12B | SEC ↗ | |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 3789 | $150.02B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 13, 2025 | 3653 | $137.19B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 14, 2025 | 3648 | $122.28B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 11, 2025 | 3588 | $118.52B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 12, 2024 | 3585 | $112.56B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 16, 2024 | 3482 | $101.37B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 3555 | $97.32B | canonical | SEC ↗ |
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