Institutional Manager · CIK 0001629649

NORTHWESTERN MUTUAL INVESTMENT MANAGEMENT COMPANY, LLC

MILWAUKEE, WI · File #028-16929

Latest AUM

$8.57B

Positions

877

Top-10 Concentration

84.6%

Filings

Portfolio Value Over Time

2024-03

2024-06

2024-09

2024-12

2025-03

2025-06

2025-09

2025-12

Biggest QoQ Changes

Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.

Action	Issuer	Ticker / CUSIP	Δ Shares	Flow ($)	Price Effect
NEW	ISHARES TR	464288513	+5,845,000	+$471.3M	$0
ADD	ISHARES TR	46435U853	+6,920,000	+$258.8M	-$211,750
ADD	ISHARES TR	464287804	+1,617,116	+$194.3M	+$6.2M
ADD	ISHARES TR	464287465	+1,922,902	+$184.7M	+$36.7M
NEW	SPDR SERIES TRUST	78468R622	+1,800,000	+$175.0M	$0
ADD	ISHARES TR	464287507	+1,191,305	+$78.6M	+$7.4M
ADD	ISHARES TR	464287200	+97,400	+$66.7M	+$22.0M
ADD	ISHARES TR	464287242	+573,700	+$63.2M	-$3.4M
ADD	ISHARES TR	464287226	+179,556	+$17.9M	-$99,183
ADD	NETFLIX INC	NFLX	+121,847	+$11.4M	-$15.0M

Sector Allocation

Technology

8.1%$693.6M

Consumer Discretionary

2.7%$230.2M

Healthcare

2.5%$211.3M

Industrials

2.4%$208.7M

Financials

1.3%$114.2M

Communication Services

1.0%$89.8M

0.8%$70.3M

0.8%$69.3M

0.6%$49.0M

0.4%$36.3M

0.4%$31.5M

Filing History

Feb 5, 202613F HOLDINGS REPORTQ/E Dec 2025877 pos · $8.57B
Nov 7, 202513F HOLDINGS REPORTQ/E Sep 2025877 pos · $6.91B
Aug 12, 202513F HOLDINGS REPORTQ/E Jun 2025879 pos · $6.50B
May 14, 202513F COMBINATION REPORTQ/E Mar 2025877 pos · $6.30B
Feb 11, 202513F COMBINATION REPORTQ/E Dec 2024875 pos · $4.53B
Nov 13, 202413F COMBINATION REPORTQ/E Sep 2024874 pos · $4.29B
Aug 15, 202413F COMBINATION REPORTQ/E Jun 2024876 pos · $3.87B
Jun 20, 202413F HOLDINGS REPORT (Amended)Q/E Jun 20246 pos · $93.3M
Jun 20, 202413F HOLDINGS REPORT (Amended)Q/E Jun 20246 pos · $84.5M
Jun 20, 202413F HOLDINGS REPORT (Amended)Q/E Jun 20246 pos · $92.9M
Jun 20, 202413F HOLDINGS REPORT (Amended)Q/E Jun 20249 pos · $106.1M
Jun 20, 202413F HOLDINGS REPORT (Amended)Q/E Jun 20248 pos · $105.4M
Jun 20, 202413F HOLDINGS REPORT (Amended)Q/E Jun 20246 pos · $107.7M
Jun 20, 202413F HOLDINGS REPORT (Amended)Q/E Jun 20248 pos · $126.0M
Jun 20, 202413F HOLDINGS REPORT (Amended)Q/E Jun 20248 pos · $114.1M
Jun 20, 202413F HOLDINGS REPORT (Amended)Q/E Jun 20249 pos · $114.0M
Jun 20, 202413F HOLDINGS REPORT (Amended)Q/E Jun 20246 pos · $105.1M
Jun 20, 202413F HOLDINGS REPORT (Amended)Q/E Jun 20248 pos · $110.5M
Jun 20, 202413F HOLDINGS REPORT (Amended)Q/E Jun 20246 pos · $90.7M
Jun 20, 202413F HOLDINGS REPORT (Amended)Q/E Jun 20246 pos · $102.3M

Top 20 Holdings — Dec 2025

#	Issuer	Ticker	Shares	Value	% of Portfolio
1	ISHARES TR	464287465	15,736,766	$1.51B	21.18%
2	ISHARES TR	464287200	1,504,300	$1.03B	14.44%
3	ISHARES TR	464287804	6,236,257	$749.5M	10.50%
4	ISHARES TR	464287507	11,197,934	$739.1M	10.36%
5	VANGUARD INDEX FDS	922908363	920,788	$577.5M	8.09%
6	ISHARES TR	464288513	5,845,000	$471.3M	6.60%
7	ISHARES TR	464287242	3,243,904	$357.4M	5.01%
8	ISHARES TR	46435U853	7,470,000	$279.3M	3.91%
9	SPDR SERIES TRUST	78468R622	1,800,000	$175.0M	2.45%
10	NVIDIA CORPORATION	NVDA	776,429	$144.8M	2.03%
11	APPLE INC	AAPL	472,133	$128.4M	1.80%
12	MICROSOFT CORP	MSFT	237,477	$114.8M	1.61%
13	VANGUARD SCOTTSDALE FDS	92206C813	1,265,890	$96.0M	1.35%
14	AMAZON COM INC	AMZN	310,831	$71.7M	1.01%
15	ALPHABET INC	GOOG	185,896	$58.2M	0.82%
16	BROADCOM INC	AVGO	150,888	$52.2M	0.73%
17	ALPHABET INC	GOOG	148,578	$46.6M	0.65%
18	META PLATFORMS INC	META	69,588	$45.9M	0.64%
19	ISHARES TR	464287226	447,618	$44.7M	0.63%
20	TESLA INC	TSLA	89,782	$40.4M	0.57%