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NORTHWESTERN MUTUAL INVESTMENT MANAGEMENT COMPANY, LLC

720 EAST WISCONSIN AVENUE, MILWAUKEE, WI 53202 • 4146651444

Q4 2025 · Filed 2026-02-05
Market Value
$8.6B
+24.0%
Holdings
889
-1
New Purchases
17
Added To
504
Closed
17
Reduced
338
Top 10 Concentration
70.5%
Turnover
3.8%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
HYG 5.51% 0.00% +5.51% $471M
USHY 3.26% 0.30% +2.96% $279M
JNK 2.04% 0.00% +2.04% $175M
IJR 8.76% 7.95% +0.81% $749M
AGG 0.52% 0.39% +0.13% $45M
PINS 0.04% 0.00% +0.04% $3M
LLY 0.32% 0.28% +0.04% $27M
HL 0.03% 0.00% +0.03% $3M
MU 0.12% 0.09% +0.03% $10M
LITE 0.07% 0.04% +0.03% $6M
GOOGL 0.68% 0.65% +0.03% $58M
BAH 0.03% 0.00% +0.03% $2M
SPXC 0.03% 0.00% +0.03% $2M
DY 0.03% 0.00% +0.03% $2M
BWA 0.03% 0.00% +0.03% $2M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
IVV 12.04% 13.64% -1.60% $1.0B
VOO 6.75% 8.18% -1.43% $577M
EFA 17.66% 18.69% -1.03% $1.5B
IJH 8.64% 9.46% -0.83% $739M
MSFT 1.34% 1.78% -0.44% $115M
NVDA 1.69% 2.10% -0.41% $145M
AAPL 1.50% 1.75% -0.25% $128M
VCLT 1.12% 1.37% -0.24% $96M
META 0.54% 0.74% -0.20% $46M
AMZN 0.84% 0.98% -0.15% $72M
LQD 4.18% 4.31% -0.14% $357M
AVGO 0.61% 0.72% -0.11% $52M
TSLA 0.47% 0.58% -0.10% $40M
ORCL 0.12% 0.22% -0.09% $10M
NFLX 0.15% 0.24% -0.09% $13M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Financial Services 67.9%
Technology 10.2%
Industrials 4.6%
Consumer Cyclical 3.9%
Healthcare 3.5%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 56 $2.8B 32.4%
Large Cap 549 $5.2B 60.7%
Mid Cap 275 $579M 6.8%
Small Cap 9 $4M 0.0%

Portfolio Analytics

Avg Market Cap
$87.6B
Median Market Cap
$16.9B
Avg P/E
32.8
Median P/E
23.1
Avg Dividend Yield
0.02%
Avg Beta
0.98
# Stocks
875
# ETFs / Funds
14

Top Holdings (889 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 EFA 17.66% 15,736,766 $1.5B $96.03 $221M +1,922,902 +13.9%
2 IVV 12.04% 1,504,300 $1.0B $684.94 $89M +97,400 +6.9%
3 IJR 8.76% 6,236,257 $749M $120.18 $201M +1,617,116 +35.0%
4 IJH 8.64% 11,197,934 $739M $66.00 $86M +1,191,305 +11.9%
5 VOO 6.75% 920,788 $577M $627.13 $13M -1,078 -0.1%
6 HYG 5.51% 5,845,000 $471M $80.63 +5,845,000 NEW
7 LQD 4.18% 3,243,904 $357M $110.19 $60M +573,700 +21.5%
8 USHY 3.26% 7,470,000 $279M $37.40 $259M +6,920,000 +1258.2%
9 JNK 2.04% 1,800,000 $175M $97.21 +1,800,000 NEW
10 NVDA 1.69% 776,429 $145M $186.50 -$295K -1,246 -0.2%
11 AAPL 1.50% 472,133 $128M $271.86 $8M -858 -0.2%
12 MSFT 1.34% 237,477 $115M $483.62 -$8M +567 +0.2%
13 VCLT 1.12% 1,265,890 $96M $75.85 $2M +51,600 +4.2%
14 AMZN 0.84% 310,831 $72M $230.82 $4M +1,511 +0.5%
15 GOOGL 0.68% 185,896 $58M $313.00 $13M +496 +0.3%
16 AVGO 0.61% 150,888 $52M $346.10 $3M +979 +0.7%
17 GOOG 0.54% 148,578 $47M $313.80 $10M -257 -0.2%
18 META 0.54% 69,588 $46M $660.09 -$5M +459 +0.7%
19 AGG 0.52% 447,618 $45M $99.88 $18M +179,556 +67.0%
20 TSLA 0.47% 89,782 $40M $449.72 $602K +345 +0.4%
21 BRK-B 0.34% 58,591 $29M $502.65 $68K +146 +0.2%
22 JPM 0.33% 86,982 $28M $322.22 $383K -657 -0.8%
23 LLY 0.32% 25,374 $27M $1,074.68 $8M +36 +0.1%
24 IEFA 0.23% 221,238 $20M $89.46 $476K
25 V 0.22% 53,923 $19M $350.71 $429K -218 -0.4%
26 XOM 0.19% 134,746 $16M $120.34 $895K -1,131 -0.8%
27 JNJ 0.19% 76,982 $16M $206.95 $2M +224 +0.3%
28 WMT 0.18% 140,111 $16M $111.41 $1M +218 +0.2%
29 MA 0.17% 26,199 $15M $570.88 -$9K -111 -0.4%
30 PLTR 0.15% 72,989 $13M $177.75 -$249K +504 +0.7%
31 ABBV 0.15% 56,472 $13M $228.49 -$134K +167 +0.3%
32 NFLX 0.15% 135,390 $13M $93.76 -$4M +121,847 +899.7%
33 COST 0.14% 14,160 $12M $862.34 -$873K +25 +0.2%
34 BAC 0.14% 214,662 $12M $55.00 $602K -2,525 -1.2%
35 AMD 0.13% 52,018 $11M $214.16 $3M +295 +0.6%
36 HD 0.13% 31,804 $11M $344.10 -$2M +94 +0.3%
37 PG 0.13% 74,663 $11M $143.31 -$771K +7 +0.0%
38 ORCL 0.12% 53,742 $10M $194.91 -$4M +923 +1.8%
39 GE 0.12% 33,703 $10M $308.03 $215K -94 -0.3%
40 MU 0.12% 35,864 $10M $285.41 $4M +195 +0.6%
41 CSCO 0.11% 125,913 $10M $77.03 $1M -300 -0.2%
42 UNH 0.11% 28,943 $10M $330.11 -$413K +78 +0.3%
43 WFC 0.11% 100,300 $9M $93.20 $790K -1,799 -1.8%
44 CVX 0.11% 60,476 $9M $152.41 -$308K -862 -1.4%
45 IBM 0.10% 29,867 $9M $296.21 $470K +178 +0.6%
46 KO 0.10% 123,699 $9M $69.91 $461K +250 +0.2%
47 CAT 0.10% 14,953 $9M $572.87 $1M +21 +0.1%
48 GS 0.10% 9,583 $8M $879.00 $739K -66 -0.7%
49 MRK 0.10% 79,304 $8M $105.26 $2M -306 -0.4%
50 FNV 0.10% 40,133 $8M $207.29 -$614K
51 CRM 0.09% 30,419 $8M $264.91 $837K -51 -0.2%
52 RTX 0.09% 42,840 $8M $183.40 $718K +178 +0.4%
53 CIEN 0.09% 31,559 $7M $233.87 $3M +49 +0.2%
54 ABT 0.08% 55,561 $7M $125.29 -$469K +89 +0.2%
55 TMO 0.08% 12,005 $7M $579.45 $1M -30 -0.2%
56 MCD 0.08% 22,754 $7M $305.63 $43K +11 +0.1%
57 LRCX 0.08% 40,132 $7M $171.18 $1M -205 -0.5%
58 MS 0.08% 38,594 $7M $177.53 $705K -73 -0.2%
59 C 0.08% 57,172 $7M $116.69 $716K -1,501 -2.6%
60 AMAT 0.08% 25,454 $7M $256.99 $1M -123 -0.5%
61 DIS 0.08% 57,043 $6M $113.77 -$72K -261 -0.5%
62 COHR 0.08% 35,161 $6M $184.57 $3M +515 +1.5%
63 ISRG 0.07% 11,328 $6M $566.36 $1M -98 -0.9%
64 AXP 0.07% 17,168 $6M $369.95 $605K -131 -0.8%
65 PEP 0.07% 43,690 $6M $143.52 $142K +56 +0.1%
66 INTU 0.07% 8,908 $6M $662.42 -$171K +17 +0.2%
67 QCOM 0.07% 34,220 $6M $171.05 $135K -155 -0.5%
68 LITE 0.07% 15,863 $6M $368.59 $3M +304 +1.9%
69 APP 0.07% 8,648 $6M $673.82 -$373K +19 +0.2%
70 GEV 0.07% 8,669 $6M $653.57 $331K -7 -0.1%
71 AMGN 0.07% 17,205 $6M $327.31 $789K +47 +0.3%
72 T 0.07% 226,520 $6M $24.84 -$809K -1,376 -0.6%
73 BKNG 0.06% 1,029 $6M $5,355.33 -$61K -3 -0.3%
74 VZ 0.06% 134,723 $5M $40.73 -$419K +341 +0.2%
75 TJX 0.06% 35,561 $5M $153.61 $323K +4 +0.0%
76 BA 0.06% 25,021 $5M $217.12 $231K +921 +3.8%
77 UBER 0.06% 66,390 $5M $81.71 -$1M -77 -0.1%
78 NEE 0.06% 66,543 $5M $80.28 $387K +910 +1.4%
79 SCHW 0.06% 53,370 $5M $99.91 $140K -1,014 -1.9%
80 INTC 0.06% 143,266 $5M $36.90 $606K +3,762 +2.7%
81 APH 0.06% 39,110 $5M $135.14 $470K +196 +0.5%
82 SPGI 0.06% 9,904 $5M $522.59 $328K -56 -0.6%
83 KLAC 0.06% 4,198 $5M $1,215.08 $564K -8 -0.2%
84 NOW 0.06% 33,147 $5M $153.19 -$1M +26,518 +400.0%
85 TXN 0.06% 29,032 $5M $173.49 -$287K +55 +0.2%
86 CDNS 0.06% 15,939 $5M $312.58 -$818K -575 -3.5%
87 BLK 0.06% 4,610 $5M $1,070.34 -$416K +21 +0.5%
88 COF 0.06% 20,313 $5M $242.36 $590K -69 -0.3%
89 GILD 0.06% 39,643 $5M $122.74 $476K +96 +0.2%
90 TWLO 0.06% 33,922 $5M $142.24 $1M -278 -0.8%
91 UTHR 0.05% 9,634 $5M $487.25 $468K -447 -4.4%
92 ADBE 0.05% 13,375 $5M $349.99 -$88K -145 -1.1%
93 P 0.05% 69,853 $5M $67.01 -$1M +646 +0.9%
94 DHR 0.05% 20,087 $5M $228.92 $571K -225 -1.1%
95 CASY 0.05% 8,319 $5M $552.71 -$87K +31 +0.4%
96 WPM 0.05% 39,003 $5M $117.56 $221K
97 CW 0.05% 8,250 $5M $551.27 -$12K -148 -1.8%
98 PFE 0.05% 181,669 $5M $24.90 -$94K +460 +0.2%
99 BSX 0.05% 47,366 $5M $95.35 -$94K +140 +0.3%
100 ILMN 0.05% 34,186 $4M $131.16 $1M -72 -0.2%

New Positions

SymbolValue% Port
HYG $471M 5.51%
JNK $175M 2.04%
PINS $3M 0.04%
HL $3M 0.03%
BAH $2M 0.03%
SPXC $2M 0.03%
DY $2M 0.03%
BWA $2M 0.03%
STRL $2M 0.02%
CVNA $2M 0.02%
CRBG $2M 0.02%
PATH $2M 0.02%
ULS $1M 0.02%
BSY $1M 0.01%
ARES $1M 0.01%

Sold Out Positions

SymbolValue% Port
IRDM —%
UAA —%
WU —%
NSP —%
VAC —%
MHK —%
KMX —%
UA —%
EMN —%
LKQ —%
FBND —%
POWI —%
K —%
ALE —%
IPG —%
View SEC EDGAR Filings for NORTHWESTERN MUTUAL INVESTMENT MANAGEMENT COMPANY, LLC →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms