NORTHWESTERN MUTUAL INVESTMENT MANAGEMENT COMPANY, LLC — 13F Holdings & Portfolio
CIK 1629649 · latest 13F-HR filed 2026-08-12
NORTHWESTERN MUTUAL INVESTMENT MANAGEMENT COMPANY, LLC manages $8.53B in 13F-reported U.S. long-equity assets across 880 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are EFA (12.69%), IVV (12.34%), IJR (8.72%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 22 new positions and exited 16; 478 existing positions rose in reported value and 191 fell.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
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AUM
$8.53B
Long-equity book
Holdings
880
Distinct positions
Period
2026-06-30
Filed 2026-08-12
Q/Q Activity
+22 / −16 / ↑478 / ↓191
vs 2026-03-31
Portfolio charts
Latest quarter's book, what changed, and how the portfolio has evolved across filings.
Portfolio map
Q2 26EFA12.7% · -8%IVV12.3% · +17%IJR8.7% · -5%IJH7.7% · -1%VOO6.2% · +41%LQD5.8% · +32%USHY3.8% · +1004%HYG3.5% · +510%TLT3.0% · newNVDA1.8% · -0%VCLT1.7% · +48%AAPL1.6% · +0%MSFT1.0% · +0%AMZN0.9% · +0%GOOGL0.8% · +1%AVGO0.7% · +0%GOOG0.6% · +1%JNK0.6% · newMU0.5% · +0%AGG0.5% · -6%META0.5% · +1%MINT0.5% · +14%TSLA0.4% · +0%LLY0.4% · 0%AMD0.4% · +0%BRK.B0.3% · +0%JPM0.3% · -0%INTC0.2% · +1%JNJ0.2% · +0%AMAT0.2% · +0%V0.2% · -1%XOM0.2% · -1%LRCX0.2% · +0%WMT0.2% · +0%CAT0.2% · -1%CSCO0.2% · +0%ABBV0.2% · +0%COST0.2% · +0%MA0.2% · -1%IGLB0.2% · newKLAC0.1% · +899%GE0.1% · -0%UNH0.1% · +0%BAC0.1% · -1%HD0.1% · +0%PG0.1% · +0%SNDK0.1% · +0%MRK0.1% · -0%GEV0.1% · -0%KO0.1% · +0%CVX0.1% · +0%NFLX0.1% · -0%GS0.1% · -1%PANW0.1% · +1%TXN0.1% · +0%PLTR0.1% · +1%IBM0.1% · +1%MRVL0.1% · newRTX0.1% · +0%WFC0.1% · -1%
Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.
Sector mix
% of 13F valueSectors from each company's SIC code; funds and ETFs grouped separately.
Biggest buys and sells
Q1 26 → Q2 26Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.
13F assets and positions
3 quartersTotal reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.
Top positions over time
reported valueThe eight largest current positions, valued at each quarter end.
Concentration
top 10 = 65.5%Cumulative share of the portfolio held in the largest N positions.
Firm Profile & Key People
As of the firm’s regulatory filing dated May 6, 2026.
Assets Under Management
$323.08B
Discretionary
$323.08B
Employees
246
Accounts
32
Address
720 EAST WISCONSIN AVENUE
MILWAUKEE, WI 53202-4797
MILWAUKEE, WI 53202-4797
Phone
(414) 665-1444
This firm reports 5 disclosure items on its registration.
| Name | Title / Status | Ownership | Type |
|---|---|---|---|
| AUTH, RAYMOND, JACOB Control | DIRECTOR; VICE PRESIDENT - INVESTMENT STRATEGY since Jan 2022 | Less than 5% | Individual |
| BENTLEY, JOHN, EMERSON Control | CHAIRMAN & PRESIDENT since Jan 2025 | Less than 5% | Individual |
| JULKA, DANIEL, JOSEPH Control | DIRECTOR; VICE PRESIDENT - PRIVATE SECURITIES since Jan 2021 | Less than 5% | Individual |
| SMITH, JASON, DALE Control | DIRECTOR; VICE PRESIDENT - PUBLIC INVESTMENTS since Nov 2024 | Less than 5% | Individual |
| Schultz, Deborah, Allison Control | DIRECTOR; VICE PRESIDENT - CHIEF RISK OFFICER since Jan 2025 | Less than 5% | Individual |
| THE NORTHWESTERN MUTUAL LIFE INSURANCE COMPANY Control | SOLE MEMBER/PARENT, NORTHWESTERN MUTUAL INVESTMENT MANAGEMENT COMPANY, LLC since Jan 2015 | 75% or more | Domestic Entity |
| ZALE, THOMAS, DAVID Control | DIRECTOR; VICE PRESIDENT - REAL ESTATE since Feb 2015 | Less than 5% | Individual |
| Dodge, Cindy, Marie | TREASURER since Sep 2025 | Less than 5% | Individual |
| FLESCH, DANIEL, MICHAEL | CHIEF OPERATING OFFICER since Dec 2024 | Less than 5% | Individual |
| Gabrys, Matthew, Eugene | CHIEF COMPLIANCE OFFICER since Oct 2025 | Less than 5% | Individual |
Ownership & leadership changes · 7 filings with changes since Nov 10, 2020
From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.
Oct 28, 2025 filing
- No longer listedCONMEY, MICHAEL, JORDAN · CHIEF COMPLIANCE OFFICER · Less than 5% · listed since Jun 2020
- No longer listedGORE, TINA, GAYLE · TREASURER · Less than 5% · listed since Apr 2022
- AddedDodge, Cindy, Marie · TREASURER · Less than 5%
- AddedGabrys, Matthew, Eugene · CHIEF COMPLIANCE OFFICER · Less than 5%
Mar 31, 2025 filing
- AddedSchultz, Deborah, Allison · DIRECTOR; VICE PRESIDENT - CHIEF RISK OFFICER · Less than 5% · control person
Dec 18, 2024 filing
- No longer listedKROPP, ROSANNE, LEA · DIRECTOR; VICE PRESIDENT - PUBLIC INVESTMENTS · Less than 5% · control person · listed since Jul 2020
- No longer listedLUEKEN, JEFFREY, JAMES · CHAIRMAN & PRESIDENT · Less than 5% · control person · listed since Jan 2023
- AddedFLESCH, DANIEL, MICHAEL · CHIEF OPERATING OFFICER · Less than 5%
- AddedSMITH, JASON, DALE · DIRECTOR; VICE PRESIDENT - PUBLIC INVESTMENTS · Less than 5% · control person
- Listed againBENTLEY, JOHN, EMERSON · CHAIRMAN & PRESIDENT · Less than 5% · control person
Jan 30, 2023 filing
- No longer listedJOELSON, RONALD, PETER · CHAIRMAN · Less than 5% · control person · listed since Jun 2012
- ChangedLUEKEN, JEFFREY, JAMES · title PRESIDENT → CHAIRMAN & PRESIDENT
Mar 31, 2022 filing
- No longer listedHEISTAD, ANDREW, JOHN · TREASURER · Less than 5% · listed since Jan 2020
- AddedGORE, TINA, GAYLE · TREASURER · Less than 5%
Jan 4, 2022 filing
- No longer listedBENTLEY, JOHN, EMERSON · DIRECTOR; VICE PRESIDENT - PUBLIC INVESTMENTS · Less than 5% · control person · listed since Feb 2016
- AddedAUTH, RAYMOND, JACOB · DIRECTOR; VICE PRESIDENT - INVESTMENT STRATEGY · Less than 5% · control person
- ChangedKROPP, ROSANNE, LEA · title DIRECTOR; VICE PRESIDENT - INVESTMENT STRATEGY → DIRECTOR; VICE PRESIDENT - PUBLIC INVESTMENTS
Jan 7, 2021 filing
- AddedJULKA, DANIEL, JOSEPH · DIRECTOR; VICE PRESIDENT - PRIVATE SECURITIES · Less than 5% · control person
- ChangedBENTLEY, JOHN, EMERSON · title DIRECTOR; SENIOR VICE PRESIDENT - PUBLIC INVESTMENTS → DIRECTOR; VICE PRESIDENT - PUBLIC INVESTMENTS
- ChangedJOELSON, RONALD, PETER · title PRESIDENT AND CHAIRMAN → CHAIRMAN
- ChangedLUEKEN, JEFFREY, JAMES · title DIRECTOR; SENIOR VICE PRESIDENT - PRIVATE SECURITIES → PRESIDENT
Nov 10, 2020 filing (earliest on record)
- ListedBENTLEY, JOHN, EMERSON · DIRECTOR; SENIOR VICE PRESIDENT - PUBLIC INVESTMENTS · Less than 5% · control person
- ListedCONMEY, MICHAEL, JORDAN · CHIEF COMPLIANCE OFFICER · Less than 5%
- ListedHEISTAD, ANDREW, JOHN · TREASURER · Less than 5%
- ListedJOELSON, RONALD, PETER · PRESIDENT AND CHAIRMAN · Less than 5% · control person
- ListedKROPP, ROSANNE, LEA · DIRECTOR; VICE PRESIDENT - INVESTMENT STRATEGY · Less than 5% · control person
- ListedLUEKEN, JEFFREY, JAMES · DIRECTOR; SENIOR VICE PRESIDENT - PRIVATE SECURITIES · Less than 5% · control person
- ListedTHE NORTHWESTERN MUTUAL LIFE INSURANCE COMPANY · SOLE MEMBER/PARENT, NORTHWESTERN MUTUAL INVESTMENT MANAGEMENT COMPANY, LLC · 75% or more · control person
- ListedZALE, THOMAS, DAVID · DIRECTOR; VICE PRESIDENT - REAL ESTATE · Less than 5% · control person
Quarter-over-quarter changes
Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.
Top Adds (vs prior quarter)
- ISHARES TR$291.2M +1009.6%
- ISHARES TR$269.3M +34.4%
- ISHARES TR$251.0M +512.9%
- VANGUARD INDEX FDS$202.0M +61.7%
- ISHARES TR$122.0M +32.5%
Top Trims
- CASEYS GEN STORES INC-$5.1M -84.4%
- EXXON MOBIL CORP-$4.5M -19.9%
- NETFLIX INC.-$3.4M -25.8%
- ISHARES TR-$2.8M -6.3%
- CHEVRON CORPORATION-$2.5M -19.8%
New Positions
- ISHARES TR$251.8M
- SPDR SERIES TRUST$50.1M
- ISHARES TR$12.9M
- MARVELL TECHNOLOGY INC$8.4M
- HONEYWELL INTL INC$4.5M
Exited Positions
- ISHARES TR$90.8M
- HONEYWELL INTL INC$4.6M
- TOPBUILD COR$2.2M
- MASIMO CORP$1.8M
- CARNIVAL CORP$952.4K
NORTHWESTERN MUTUAL INVESTMENT MANAGEMENT COMPANY, LLC Holdings (2026-06-30)
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | ISHARES TR | EFA | 464287465 | $1.08B | 12.69% | 10,419,892 | SH |
| 2 | ISHARES TR | IVV | 464287200 | $1.05B | 12.34% | 1,405,896 | SH |
| 3 | ISHARES TR | IJR | 464287804 | $743.7M | 8.72% | 5,014,613 | SH |
| 4 | ISHARES TR | IJH | 464287507 | $656.8M | 7.70% | 8,517,640 | SH |
| 5 | VANGUARD INDEX FDS | VOO | 922908363 | $529.3M | 6.21% | 770,657 | SH |
| 6 | ISHARES TR | LQD | 464287242 | $497.3M | 5.83% | 4,559,454 | SH |
| 7 | ISHARES TR | USHY | 46435U853 | $320.1M | 3.75% | 8,646,000 | SH |
| 8 | ISHARES TR | HYG | 464288513 | $299.9M | 3.52% | 3,750,000 | SH |
| 9 | ISHARES TR | TLT | 464287432 | $251.8M | 2.95% | 2,913,600 | SH |
| 10 | NVIDIA CORPORATION | NVDA | 67066G104 | $155.4M | 1.82% | 776,551 | SH |
| 11 | VANGUARD SCOTTSDALE FDS | VCLT | 92206C813 | $149.0M | 1.75% | 1,980,590 | SH |
| 12 | APPLE INC | AAPL | 037833100 | $136.3M | 1.60% | 470,900 | SH |
| 13 | MICROSOFT CORP | MSFT | 594918104 | $88.8M | 1.04% | 238,168 | SH |
| 14 | AMAZON COM INC | AMZN | 023135106 | $74.8M | 0.88% | 313,851 | SH |
| 15 | ALPHABET INC | GOOGL | 02079K305 | $67.2M | 0.79% | 187,999 | SH |
| 16 | BROADCOM INC | AVGO | 11135F101 | $57.3M | 0.67% | 151,801 | SH |
| 17 | ALPHABET INC | GOOG | 02079K107 | $53.5M | 0.63% | 151,537 | SH |
| 18 | SPDR SERIES TRUST | JNK | 78468R622 | $50.1M | 0.59% | 520,000 | SH |
| 19 | MICRON TECHNOLOGY INC | MU | 595112103 | $41.7M | 0.49% | 36,157 | SH |
| 20 | ISHARES TR | AGG | 464287226 | $40.7M | 0.48% | 411,464 | SH |
| 21 | META PLATFORMS INC | META | 30303M102 | $39.7M | 0.46% | 70,408 | SH |
| 22 | PIMCO ETF TR | MINT | 72201R833 | $39.6M | 0.46% | 392,414 | SH |
| 23 | TESLA INC | TSLA | 88160R101 | $38.0M | 0.45% | 90,265 | SH |
| 24 | ELI LILLY & CO | LLY | 532457108 | $30.4M | 0.36% | 25,362 | SH |
| 25 | ADVANCED MICRO DEVICES INC | AMD | 007903107 | $30.4M | 0.36% | 52,280 | SH |
| 26 | BERKSHIRE HATHAWAY INC DEL | BRK.B | 084670702 | $29.4M | 0.34% | 58,780 | SH |
| 27 | JPMORGAN CHASE & CO | JPM | 46625H100 | $28.1M | 0.33% | 85,910 | SH |
| 28 | INTEL CORP | INTC | 458140100 | $21.2M | 0.25% | 151,473 | SH |
| 29 | JOHNSON & JOHNSON | JNJ | 478160104 | $19.6M | 0.23% | 77,179 | SH |
| 30 | APPLIED MATLS INC | AMAT | 038222105 | $18.4M | 0.22% | 25,445 | SH |
| 31 | VISA INC | V | 92826C839 | $18.3M | 0.21% | 53,213 | SH |
| 32 | EXXON MOBIL CORP | XOM | 30231G102 | $18.2M | 0.21% | 132,895 | SH |
| 33 | LAM RESEARCH CORP | LRCX | 512807306 | $17.4M | 0.20% | 40,096 | SH |
| 34 | WALMART INC | WMT | 931142103 | $15.9M | 0.19% | 140,559 | SH |
| 35 | CATERPILLAR INC | CAT | 149123101 | $15.7M | 0.18% | 14,768 | SH |
| 36 | CISCO SYS INC | CSCO | 17275R102 | $14.9M | 0.17% | 126,640 | SH |
| 37 | ABBVIE INC | ABBV | 00287Y109 | $14.3M | 0.17% | 56,647 | SH |
| 38 | COSTCO WHOLESALE CORPORATION | COST | 22160K105 | $13.3M | 0.16% | 14,224 | SH |
| 39 | MASTERCARD INCORPORATED | MA | 57636Q104 | $13.3M | 0.16% | 25,871 | SH |
| 40 | ISHARES TR | IGLB | 464289511 | $12.9M | 0.15% | 258,000 | SH |
| 41 | KLA CORP | KLAC | 482480100 | $12.6M | 0.15% | 41,881 | SH |
| 42 | GE AEROSPACE | GE | 369604301 | $12.5M | 0.15% | 33,452 | SH |
| 43 | UNITEDHEALTH GROUP INC | UNH | 91324P102 | $12.1M | 0.14% | 29,117 | SH |
| 44 | BANK OF AMER CORP | BAC | 060505104 | $11.9M | 0.14% | 209,326 | SH |
| 45 | HOME DEPOT INC | HD | 437076102 | $11.3M | 0.13% | 31,935 | SH |
| 46 | PROCTER & GAMBLE CO | PG | 742718109 | $10.9M | 0.13% | 74,658 | SH |
| 47 | SANDISK CORP | SNDK | 80004C200 | $10.8M | 0.13% | 4,747 | SH |
| 48 | MERCK & CO INC | MRK | 58933Y105 | $10.2M | 0.12% | 79,187 | SH |
| 49 | GE VERNOVA INC | GEV | 36828A101 | $10.1M | 0.12% | 8,615 | SH |
| 50 | COCA COLA CO | KO | 191216100 | $10.1M | 0.12% | 124,151 | SH |
Filing History
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-06-30 | 2026-08-12 | $8.53B | 880 | 0001629649-26-000004 |
| 2026-03-31 | 2026-05-08 | $6.60B | 874 | 0001629649-26-000002 |
| 2025-12-31 | 2026-02-05 | $8.57B | 877 | 0001629649-26-000001 |
Filer Information
Address
720 EAST WISCONSIN AVENUEMILWAUKEE, WI 53202
Phone
(414) 665-1444
Filing Manager
NORTHWESTERN MUTUAL INVESTMENT MANAGEMENT COMPANY, LLC
MILWAUKEE, WI
Signatory
JOHN E BENTLEY
President