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Northwestern Mutual Investment Management Company, LLC

13F for the quarter to June 30, 2026, filed August 12, 2026 · SEC CIK 1629649

Reported value
$8.5bn
31% in companies we cover
Positions we cover
841
Largest NVDA 1.8%
Copy, a year
+14.4%
S&P 500 +13.6%
Copy Sharpe ratio
0.65
S&P 500 0.60

How copying its 13F would have done

$10.0k$20.0k$40.0k 201520172019202120232025 $46.5k$42.9k
CopyS&P 500 $10,000 copying Northwestern Mutual Investment Management Company, LLC's filed holdings in companies we cover from May 22, 2015, buying on the first trading day after each 13F was filed and holding until the next, against the S&P 500 (total return). Marked weekly, log scale. Before costs and taxes; misses trading within each quarter and anything 13F does not show (shorts, cash, bonds, non-US holdings).

Biggest drop −41.4% (S&P 500 −31.8%); beta 0.88; alpha +1.8% a year (t = 0.85); last 12 months +12.4% against +12.1%.

Reported value by quarter

Northwestern Mutual Investment Management Company, LLC: 13F reported value Total value of all positions in each quarter's 13F, as filed (values before 2023 were filed in thousands of dollars and are converted).
$0 $50B $100B $150B Reported value, 2015-03-31: $4.9B Reported value, 2015-06-30: $5B Reported value, 2015-09-30: $4.7B Reported value, 2015-12-31: $4.7B Reported value, 2016-03-31: $4.6B Reported value, 2016-06-30: $4.6B Reported value, 2016-09-30: $4.7B Reported value, 2016-12-31: $5B Reported value, 2017-03-31: $5.6B Reported value, 2017-06-30: $5.9B Reported value, 2017-09-30: $6.1B Reported value, 2017-12-31: $6.1B Reported value, 2018-03-31: $6B Reported value, 2018-06-30: $6.7B Reported value, 2018-09-30: $6.6B Reported value, 2018-12-31: $6B Reported value, 2019-03-31: $5.5B Reported value, 2019-06-30: $4.3B Reported value, 2019-09-30: $4.6B Reported value, 2019-12-31: $5.6B Reported value, 2020-03-31: $6.6B Reported value, 2020-06-30: $7.2B Reported value, 2020-09-30: $106.1B Reported value, 2020-12-31: $114B Reported value, 2021-03-31: $114.1B Reported value, 2021-06-30: $110.5B Reported value, 2021-09-30: $105.6B Reported value, 2021-12-31: $105.4B Reported value, 2022-03-31: $126B Reported value, 2022-06-30: $102.3B Reported value, 2022-09-30: $90.7B Reported value, 2022-12-31: $93.3B Reported value, 2023-03-31: $3.8B Reported value, 2023-06-30: $3.7B Reported value, 2023-09-30: $3.6B Reported value, 2023-12-31: $3.7B Reported value, 2024-03-31: $3.8B Reported value, 2024-06-30: $3.9B Reported value, 2024-09-30: $4.3B Reported value, 2024-12-31: $4.5B Reported value, 2025-03-31: $6.3B Reported value, 2025-06-30: $6.5B Reported value, 2025-09-30: $6.9B Reported value, 2025-12-31: $8.6B Reported value, 2026-03-31: $6.6B Reported value, 2026-06-30: $8.5B 2015-03-31 2017-06-30 2019-09-30 2021-12-31 2024-03-31 2026-06-30 $8.5B
View chart data
Period Reported value
2015-03-31 $4.9B
2015-06-30 $5B
2015-09-30 $4.7B
2015-12-31 $4.7B
2016-03-31 $4.6B
2016-06-30 $4.6B
2016-09-30 $4.7B
2016-12-31 $5B
2017-03-31 $5.6B
2017-06-30 $5.9B
2017-09-30 $6.1B
2017-12-31 $6.1B
2018-03-31 $6B
2018-06-30 $6.7B
2018-09-30 $6.6B
2018-12-31 $6B
2019-03-31 $5.5B
2019-06-30 $4.3B
2019-09-30 $4.6B
2019-12-31 $5.6B
2020-03-31 $6.6B
2020-06-30 $7.2B
2020-09-30 $106.1B
2020-12-31 $114B
2021-03-31 $114.1B
2021-06-30 $110.5B
2021-09-30 $105.6B
2021-12-31 $105.4B
2022-03-31 $126B
2022-06-30 $102.3B
2022-09-30 $90.7B
2022-12-31 $93.3B
2023-03-31 $3.8B
2023-06-30 $3.7B
2023-09-30 $3.6B
2023-12-31 $3.7B
2024-03-31 $3.8B
2024-06-30 $3.9B
2024-09-30 $4.3B
2024-12-31 $4.5B
2025-03-31 $6.3B
2025-06-30 $6.5B
2025-09-30 $6.9B
2025-12-31 $8.6B
2026-03-31 $6.6B
2026-06-30 $8.5B

Holdings and moves

CompanyShare of portfolioValueSharesChange in shares
NVDANVIDIA Corporation1.82%$155.4m776.6K−0.1%
AAPLApple Inc.1.60%$136.3m470.9K+0.2%
MSFTMicrosoft Corporation1.04%$88.8m238.2K+0.2%
AMZNAmazon0.88%$74.8m313.9K+0.4%
GOOGLAlphabet Inc. (Class A)0.79%$67.2m188.0K+0.9% Added
AVGOBroadcom0.67%$57.3m151.8K+0.1%
MUMicron Technology0.49%$41.7m36.2K+0.4%
METAMeta Platforms0.47%$39.7m70.4K+0.6% Added
TSLATesla, Inc.0.45%$38.0m90.3K+0.3%
LLYLilly (Eli)0.36%$30.4m25.4K0.0%
AMDAdvanced Micro Devices0.36%$30.4m52.3K+0.2%
JPMJPMorgan Chase0.33%$28.1m85.9K−0.4%
INTCIntel0.25%$21.2m151.5K+0.8% Added
JNJJohnson & Johnson0.23%$19.6m77.2K+0.1%
AMATApplied Materials0.22%$18.4m25.4K+0.2%
VVisa Inc.0.21%$18.3m53.2K−1.1% Reduced
LRCXLam Research0.20%$17.4m40.1K+0.3%
WMTWalmart0.19%$15.9m140.6K+0.2%
CATCaterpillar Inc.0.18%$15.7m14.8K−0.8% Reduced
CSCOCisco0.17%$14.9m126.6K+0.2%
ABBVAbbVie0.17%$14.3m56.6K+0.2%
COSTCostco0.16%$13.3m14.2K+0.2%
MAMastercard0.16%$13.3m25.9K−0.7% Reduced
KLACKLA Corporation0.15%$12.6m41.9K+898.6% Added
GEGE Aerospace0.15%$12.5m33.5K−0.3%
UNHUnitedHealth Group0.14%$12.1m29.1K+0.5%
BACBank of America0.14%$11.9m209.3K−1.4% Reduced
HDThe Home Depot0.13%$11.3m31.9K+0.3%
PGProcter & Gamble0.13%$10.9m74.7K+0.4%
SNDKSandisk0.13%$10.8m4.7K+0.5% Added
MRKMerck & Co.0.12%$10.2m79.2K−0.3%
GEVGE Vernova0.12%$10.1m8.6K−0.1%
KOThe Coca-Cola Company0.12%$10.1m124.2K+0.2%
CVXChevron Corporation0.12%$9.9m60.0K+0.1%
NFLXNetflix0.11%$9.6m135.0K−0.1%
GSGoldman Sachs0.11%$9.6m9.5K−1.4% Reduced
PANWPalo Alto Networks0.10%$8.9m26.0K+0.6% Added
TXNTexas Instruments0.10%$8.7m29.2K+0.5%
PLTRPalantir Technologies Inc.0.10%$8.6m73.6K+0.7% Added
IBMIBM0.10%$8.5m30.1K+0.8% Added
MRVLMarvell Technology0.10%$8.4m28.1KNew
RTXRTX Corporation0.10%$8.2m43.2K+0.5% Added
WFCWells Fargo0.10%$8.1m98.1K−0.8% Reduced
MSMorgan Stanley0.09%$8.0m38.4K−0.2%
ORCLOracle Corporation0.09%$8.0m54.4K+0.3%
FNVFranco Nevada Corp0.09%$7.7m36.9K0.0%
CCitigroup0.09%$7.7m54.7K−2.2% Reduced
WDCWestern Digital0.08%$7.1m11.1K+1.9% Added
TWLOTwilio Inc0.08%$7.0m34.1K+0.5% Added
APHAmphenol0.08%$7.0m39.4K+0.3%
CRSCarpenter Technology Corp0.08%$6.9m11.2K+0.2%
MKSIMKS Inc0.08%$6.8m15.2K+1.0% Added
GLWCorning Inc.0.07%$6.4m25.1K+0.5% Added
CWCurtiss Wright Corp0.07%$6.3m8.3K+0.6% Added
AMGNAmgen0.07%$6.3m17.3K+0.4%
QCOMQualcomm0.07%$6.2m33.8K−1.0% Reduced
CRWDCrowdStrike0.07%$6.2m8.2K+1.2% Added
ADIAnalog Devices0.07%$6.2m15.7K+0.1%
ENTGEntegris Inc0.07%$6.2m34.3K+0.7% Added
MCDMcDonald's0.07%$6.2m22.8K0.0%
ATIATI Inc0.07%$6.1m30.7K+0.9% Added
ILMNIllumina, Inc.0.07%$6.0m34.0K−0.6% Reduced
TMOThermo Fisher Scientific0.07%$6.0m11.9K−0.9% Reduced
PEPPepsiCo0.07%$5.9m43.8K+0.2%
NEENextEra Energy0.07%$5.9m66.9K+0.3%
STRLSterling Infrastructure, Inc.0.07%$5.8m6.9K+0.3%
AXPAmerican Express0.07%$5.8m17.1K−0.4%
MTZMastec Inc0.07%$5.8m13.9K+0.9% Added
WWDWoodward, Inc.0.07%$5.7m13.4K+0.3%
VZVerizon0.07%$5.7m133.9K−0.8% Reduced
ANETArista Networks0.07%$5.6m33.1K+0.2%
MTSIMacom Technology Solutions Holdings, Inc.0.07%$5.6m14.8K+2.1% Added
PEverpure0.07%$5.6m71.0K+1.0% Added
BABoeing0.06%$5.5m25.3K+0.6% Added
XPOXPO, Inc.0.06%$5.4m26.4K+0.6% Added
TJXTJX Companies0.06%$5.4m35.5K−0.2%
DISThe Walt Disney Company0.06%$5.4m55.7K−1.8% Reduced
UNPUnion Pacific Corporation0.06%$5.2m19.0K+0.3%
UTHRUnited Therapeutics Corp0.06%$5.2m9.5K−1.0% Reduced
OKTAOkta, Inc.0.06%$5.1m37.7K−0.7% Reduced
WELLWelltower0.06%$5.1m22.6K+1.4% Added
DEDeere & Company0.06%$5.1m8.1K−0.2%
ABTAbbott Laboratories0.06%$5.1m55.8K+0.4%
USFDUS Foods Holding Corp.0.06%$5.1m49.5K+0.3%
GILDGilead Sciences0.06%$5.0m39.8K+0.3%
RBARB Global Inc.0.06%$4.9m41.9K+0.7% Added
SCHWCharles Schwab Corporation0.06%$4.8m52.4K−1.9% Reduced
WPMWheaton Precious Metals Corp.0.06%$4.8m42.4K+2.3% Added
LSCCLattice Semiconductor Corp0.06%$4.7m30.8K+0.6% Added
UBERUber0.06%$4.7m65.3K−0.9% Reduced
TAT&T0.05%$4.6m222.8K−0.5% Reduced
HONHoneywell Technologies0.05%$4.5m20.3KNew
ISRGIntuitive Surgical0.05%$4.5m11.4K−0.1%
SNXTD Synnex Corp0.05%$4.5m16.8K+0.1%
BURLBurlington Stores, Inc.0.05%$4.5m14.1K+1.5% Added
BLKBlackRock0.05%$4.5m4.6K+0.2%
APPApplovin Corp0.05%$4.4m8.6K−0.5% Reduced
BKNGBooking Holdings0.05%$4.4m24.8K+2309.7% Added
PFEPfizer0.05%$4.4m182.7K+0.4%
TTMITTM Technologies Inc0.05%$4.4m23.4K+0.9% Added
AAgilent Technologies0.05%$4.3m32.4K+1.7% Added
RSReliance, Inc.0.05%$4.3m11.5K−2.0% Reduced
ONTOOnto Innovation Inc.0.05%$4.2m11.2K+0.6% Added
CVSCVS Health0.05%$4.2m40.9K+0.5%
VRTVertiv0.05%$4.1m12.3K+0.6% Added
CRMSalesforce0.05%$4.1m26.2K−12.5% Reduced
PGRProgressive Corporation0.05%$4.1m18.7K−0.1%
ROKURoku, Inc0.05%$4.1m29.5KNew
COPConocoPhillips0.05%$4.1m39.1K−0.4%
PLDPrologis0.05%$4.0m29.9K+0.5% Added
VRTXVertex Pharmaceuticals0.05%$4.0m8.1K+0.1%
BWXTBWX Technologies, Inc.0.05%$4.0m20.6K+0.6% Added
COFCapital One0.05%$4.0m20.0K−0.2%
DELLDell Technologies0.05%$4.0m9.3K−2.5% Reduced
NXTNextpower Inc.0.05%$4.0m33.4K+0.4%
EWBCEast West Bancorp Inc0.05%$4.0m30.8K0.0%
ITTITT Inc.0.05%$4.0m20.1K+4.4% Added
SPGIS&P Global0.05%$4.0m9.7K−0.7% Reduced
LOWLowe's0.05%$4.0m18.0K0.0%
PHParker Hannifin0.05%$4.0m4.0K+0.1%
PFGCPerformance Food Group Co0.05%$4.0m35.3K+0.4%
TLNTalen Energy Corp0.05%$3.9m10.2K−0.2%
AEMAgnico Eagle Mines LTD0.04%$3.9m24.9K+2.3% Added
DHRDanaher Corporation0.04%$3.8m20.2K+0.3%
NBIXNeurocrine Biosciences Inc0.04%$3.8m22.6K+0.6% Added
CDECoeur Mining, Inc.0.04%$3.8m232.7KNew
WCCWesco International Inc0.04%$3.8m11.0K+0.5% Added
BMYBristol Myers Squibb0.04%$3.8m65.5K+0.5%
SBUXStarbucks0.04%$3.7m36.5K+0.2%
WATWaters Corporation0.04%$3.7m9.9K+1.7% Added
SGISomnigroup International Inc.0.04%$3.7m47.3K+0.6% Added
NLYAnnaly Capital Management Inc0.04%$3.7m164.8K+2.4% Added
APGApi Group Corp0.04%$3.7m86.7K+0.9% Added
RGLDRoyal Gold Inc0.04%$3.7m18.3K+1.0% Added
THCTenet Healthcare Corp0.04%$3.6m19.4K−1.6% Reduced
WPCW. P. Carey Inc.0.04%$3.6m50.1K+2.1% Added
RRXRegal Rexnord Corp0.04%$3.6m15.0K+0.7% Added
TOLToll Brothers, Inc.0.04%$3.5m21.3K+0.4%
SYKStryker Corporation0.04%$3.5m11.1K+0.4%
PWRQuanta Services0.04%$3.5m4.8K+0.8% Added
SOSouthern Company0.04%$3.5m36.1K+2.6% Added
HWMHowmet Aerospace0.04%$3.4m12.8K0.0%
DYDycom Industries Inc0.04%$3.4m6.8K+0.6% Added
PNFPPinnacle Financial Partners, Inc.0.04%$3.4m33.8K+0.3%
SMTCSemtech Corp0.04%$3.4m20.9KNew
DTMDT Midstream, Inc.0.04%$3.4m22.9K+0.7% Added
ARMKAramark0.04%$3.4m59.1K+0.5%
DKSDick's Sporting Goods, Inc.0.04%$3.4m14.8K−0.4%
CLHClean Harbors Inc0.04%$3.3m11.2K−0.7% Reduced
CDNSCadence Design Systems Inc0.04%$3.3m8.8K+1.5% Added
CompanyBought (value)Shares
KLACKLA Corporation$11.4m37.7K
MRVLMarvell Technology$8.4m28.1K
HONHoneywell Technologies$4.5m20.3K
BKNGBooking Holdings$4.2m23.8K
ROKURoku, Inc$4.1m29.5K
CDECoeur Mining, Inc.$3.8m232.7K
SMTCSemtech Corp$3.4m20.9K
SANMSanmina Corp$3.1m12.1K
TOSTToast, Inc.$2.9m105.3K
DOCNDigitalocean Holdings, Inc.$2.9m18.3K
VIAVViavi Solutions Inc.$2.5m52.6K
IESCIES Holdings, Inc.$1.4m2.0K
SIRISirius XM Holdings Inc.$1.3m42.4K
CVNACarvana$1.2m18.4K
VEEVVeeva Systems Inc$854,3414.8K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

CompanySold (value)Shares
CASYCasey's−$5.7m−7.1K
CRMSalesforce−$588,102−3.8K
PINSPinterest, Inc.−$479,337−22.8K
BRBRBellring Brands, Inc.−$422,716−26.3K
FLOFlowers Foods Inc−$385,585−47.3K
BLKBBlackbaud Inc−$309,614−8.0K
CNXCConcentrix Corp−$268,046−9.8K
FLRFluor Corp−$245,709−4.7K
CAGConagra Brands Inc.−$240,610−15.3K
EPAMEPAM Systems, Inc.−$239,252−1.8K
POOLPool Corp−$212,244−1.0K
VVisa Inc.−$198,649−579
NVDANVIDIA Corporation−$198,089−990
CARTMaplebear Inc.−$197,118−4.2K
MIDDMiddleby Corp−$176,310−1.0K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

CompanyValue last quarterShares
BRBRBellring Brands, Inc.$422,71626.3K
FLOFlowers Foods Inc$385,58547.3K
BLKBBlackbaud Inc$309,6148.0K
CNXCConcentrix Corp$268,0469.8K
CAGConagra Brands Inc.$240,61015.3K
EPAMEPAM Systems, Inc.$239,2521.8K
POOLPool Corp$212,2441.0K
COTYCoty Inc.$166,43082.8K
  • Technology33.9%
  • Industrials13.2%
  • Financials11.6%
  • Consumer Discretionary10.0%
  • Health Care9.3%
  • Communication Services5.8%
  • Consumer Staples4.1%
  • Materials3.5%
  • Real Estate3.4%
  • Utilities2.6%
  • Energy2.6%

Share of the value held in companies we cover, by sector.

PeriodCopy, a yearS&P 500SharpeS&P 500Biggest dropBeta
Whole backtestMay 22, 2015 to November 2, 2026+14.4%+13.6%0.650.60−41.4%0.88
2018 onwardsJanuary 5, 2018 to November 2, 2026+14.9%+13.9%0.590.54−41.4%0.87
Last three yearsNovember 3, 2023 to November 2, 2026+30.5%+21.8%1.150.63−17.6%0.55
Last yearNovember 7, 2025 to November 2, 2026+14.0%+14.2%0.850.84−8.0%0.92

From SEC Form 13F data sets. A 13F lists long positions in US-listed shares at the quarter's end, filed up to 45 days later; it does not show shorts, cash, bonds, non-US holdings or trades within the quarter. Positions in companies outside our coverage are not listed here. Research, not investment advice.