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Northwestern Mutual Wealth Management Portfolio holdings
AUM
$162B
1-Year Est. Return
16.35%
This Fund
S&P 500
This Quarter
Est. Return
+6.14%
1 Year Est. Return
+16.35%
3 Year Est. Return
+42.23%
5 Year Est. Return
+39.96%
10 Year Est. Return
+140.73%
AUM
$150B
AUM Growth
+$12.8B
(+9.3%)
Cap. Flow
+$4.59B
Cap. Flow
% of AUM
3.06%
Top 10 Holdings %
Top 10 Hldgs %
48.08%
Holding
4,104
New
448
Increased
1,772
Reduced
1,075
Closed
310
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI Intl Quality Factor ETF
IQLT
|
+$828M |
| 2 |
iShares Core S&P 500 ETF
IVV
|
+$605M |
| 3 |
Vanguard Total Bond Market
BND
|
+$310M |
| 4 |
Vanguard FTSE Developed Markets ETF
VEA
|
+$179M |
| 5 |
iShares Core S&P Mid-Cap ETF
IJH
|
+$177M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Schwab International Equity ETF
SCHF
|
+$1.04B |
| 2 |
Vanguard Morningstar Mid-Cap ETF
VO
|
+$203M |
| 3 |
Pacer US Cash Cows 100 ETF
COWZ
|
+$145M |
| 4 |
NVIDIA
NVDA
|
+$61.2M |
| 5 |
Applovin
APP
|
+$58.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 3.6% |
| 2 | Financials | 1.27% |
| 3 | Communication Services | 1.14% |
| 4 | Consumer Discretionary | 1.02% |
| 5 | Industrials | 0.74% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
iShares Core S&P 500 ETF
IVV
$902B
| $22.4B | 14.91% |
33,427,901
+939,429
| +3% | +$605M |
|
|
2
Vanguard Total Bond Market
BND
$161B
| $9.42B | 6.28% |
126,617,235
+4,214,874
| +3% | +$310M |
|
|
3
iShares Core S&P Mid-Cap ETF
IJH
$127B
| $8B | 5.34% |
122,648,738
+2,757,510
| +2% | +$177M |
|
|
4
Schwab International Equity ETF
SCHF
$68.5B
| $6.65B | 4.43% |
285,507,134
-46,198,602
| -14% | -$1.04B |
|
5
iShares Core S&P Small-Cap ETF
IJR
$112B
| $5.03B | 3.35% |
42,327,458
+1,024,536
| +2% | +$118M |
|
6
Invesco S&P 500 Equal Weight ETF
RSP
$99.4B
| $4.8B | 3.2% |
25,293,041
+635,369
| +3% | +$118M |
|
7
Fidelity Total Bond ETF
FBND
$27.3B
| $4.14B | 2.76% |
89,517,143
+3,390,440
| +4% | +$156M |
|
8
Vanguard FTSE Emerging Markets ETF
VWO
$125B
| $4.05B | 2.7% |
74,834,185
+3,217,413
| +4% | +$166M |
|
9
State Street SPDR S&P 500 ETF Trust
SPY
$807B
| $3.94B | 2.63% |
5,913,366
+127,135
| +2% | +$81.5M |
|
10
iShares 20+ Year Treasury Bond ETF
TLT
$40.6B
| $3.73B | 2.49% |
41,721,495
+1,195,788
| +3% | +$105M |
|
|
11
Vanguard FTSE Developed Markets ETF
VEA
$236B
| $3.48B | 2.32% |
58,128,458
+3,076,786
| +6% | +$179M |
|
12
iShares Core MSCI EAFE ETF
IEFA
$195B
| $2.96B | 1.98% |
33,954,853
+1,199,024
| +4% | +$102M |
|
13
iShares MSCI USA Value Factor ETF
VLUE
$9.47B
| $2.77B | 1.85% |
22,160,303
+577,973
| +3% | +$68M |
|
|
14
iShares MSCI Intl Quality Factor ETF
IQLT
$14.2B
| $2.34B | 1.56% |
53,043,095
+19,184,191
| +57% | +$828M |
|
15
Invesco QQQ Trust
QQQ
$478B
| $1.9B | 1.27% |
3,172,010
-51,317
| -2% | -$29.4M |
|
16
Vanguard Tax-Exempt Bond Index Fund
VTEB
$46B
| $1.79B | 1.19% |
35,747,656
+580,997
| +2% | +$28.6M |
|
|
17
Vanguard Morningstar Mid-Cap ETF
VO
$109B
| $1.77B | 1.18% |
24,107,104
-2,826,132
| -10% | -$203M |
|
18
Vanguard S&P 500 ETF
VOO
$1.03T
| $1.51B | 1% |
2,459,435
+120,145
| +5% | +$70.8M |
|
19
Dimensional International Value ETF
DFIV
$21.6B
| $1.24B | 0.83% |
26,884,410
+2,256,850
| +9% | +$101M |
|
20
iShares Core Universal USD Bond ETF
IUSB
$43.2B
| $1.23B | 0.82% |
26,298,023
+1,980,869
| +8% | +$91.6M |
|
21
iShares Core MSCI Emerging Markets ETF
IEMG
$156B
| $1.21B | 0.81% |
18,399,513
+381,061
| +2% | +$23.8M |
|
22
iShares Core US Aggregate Bond ETF
AGG
$137B
| $1.19B | 0.79% |
11,865,716
-97,764
| -0.8% | -$9.7M |
|
|
23
NVIDIA
NVDA
$5.27T
| $1.03B | 0.69% |
5,516,759
-351,199
| -6% | -$61.2M |
|
24
Microsoft
MSFT
$3.74T
| $1.01B | 0.67% |
1,942,445
+15,602
| +0.8% | +$7.96M |
|
25
Vanguard Real Estate ETF
VNQ
$38.3B
| $1B | 0.67% |
10,960,194
+847,016
| +8% | +$76.8M |
|
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Northwestern Mutual Wealth Management's Q3 2025 Portfolio in Review
As of Q3 2025, Northwestern Mutual Wealth Management held 4,104 positions worth $150B, up 9.3% from $137B the previous quarter. Its ten largest holdings account for 48% of the portfolio.
Northwestern Mutual Wealth Management deployed $4.59B of net new capital in Q3 2025, opening 448 new positions and adding to 1,772 existing holdings. Its largest new stake was iShares Dynamic Equity Active ETF: 3,646,528 shares worth $92.3M.
By sector, the portfolio is most concentrated in Technology at 3.6% of assets, up from 3.6% a quarter earlier, followed by Financials and Communication Services.
On the sell side, the largest reduction was Schwab International Equity ETF, an estimated $1.04B trimmed.
- Northwestern Mutual Wealth Management's largest Q3 2025 buy was iShares Dynamic Equity Active ETF: 3,646,528 shares worth $92.3M.
- Northwestern Mutual Wealth Management added most to iShares MSCI Intl Quality Factor ETF in Q3 2025, an estimated $828M increase.
- Northwestern Mutual Wealth Management's biggest Q3 2025 reduction was Schwab International Equity ETF, cutting an estimated $1.04B.
- Northwestern Mutual Wealth Management fully exited Hess in Q3 2025, selling an estimated $1.23M.
- Northwestern Mutual Wealth Management's ten largest holdings make up 48% of its $150B portfolio in Q3 2025.
- Northwestern Mutual Wealth Management opened 448 new positions and closed 310 in Q3 2025.
- Northwestern Mutual Wealth Management's portfolio value rose 9.3% quarter-over-quarter to $150B.
Based on Northwestern Mutual Wealth Management's 13F filing for Q3 2025, filed 14 Nov 2025.