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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
+2.04%
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
$158B
AUM Growth
+$8.1B
(+5.4%)
Cap. Flow
+$5.39B
Cap. Flow
% of AUM
3.41%
Top 10 Holdings %
Top 10 Hldgs %
47.3%
Holding
4,314
New
520
Increased
1,834
Reduced
1,140
Closed
305
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vanguard Total Bond Market
BND
|
+$319M |
| 2 |
Schwab International Equity ETF
SCHF
|
+$291M |
| 3 |
iShares Core S&P 500 ETF
IVV
|
+$278M |
| 4 |
Vanguard FTSE Developed Markets ETF
VEA
|
+$230M |
| 5 |
BlackRock US Equity Factor Rotation ETF
DYNF
|
+$188M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Xtrackers MSCI EAFE Hedged Equity ETF
DBEF
|
+$94.4M |
| 2 |
Lyft
LYFT
|
+$74.6M |
| 3 |
Pacer US Cash Cows 100 ETF
COWZ
|
+$62.5M |
| 4 |
Uber
UBER
|
+$56.9M |
| 5 |
FISV
Fiserv Inc
FISV
|
+$53.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 3.39% |
| 2 | Financials | 1.32% |
| 3 | Communication Services | 1.17% |
| 4 | Consumer Discretionary | 1.04% |
| 5 | Industrials | 0.76% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
iShares Core S&P 500 ETF
IVV
$902B
| $23.2B | 14.66% |
33,837,717
+409,816
| +1% | +$278M |
|
|
2
Vanguard Total Bond Market
BND
$161B
| $9.7B | 6.13% |
130,902,798
+4,285,563
| +3% | +$319M |
|
3
iShares Core S&P Mid-Cap ETF
IJH
$127B
| $8.24B | 5.21% |
124,791,222
+2,142,484
| +2% | +$140M |
|
|
4
Schwab International Equity ETF
SCHF
$68.5B
| $7.16B | 4.53% |
297,753,417
+12,246,283
| +4% | +$291M |
|
5
iShares Core S&P Small-Cap ETF
IJR
$112B
| $5.12B | 3.24% |
42,562,587
+235,129
| +0.6% | +$28.1M |
|
6
Invesco S&P 500 Equal Weight ETF
RSP
$99.4B
| $5.03B | 3.18% |
26,252,217
+959,176
| +4% | +$182M |
|
7
Fidelity Total Bond ETF
FBND
$27.3B
| $4.26B | 2.69% |
92,442,810
+2,925,667
| +3% | +$136M |
|
8
Vanguard FTSE Emerging Markets ETF
VWO
$125B
| $4.21B | 2.66% |
78,224,671
+3,390,486
| +5% | +$184M |
|
9
State Street SPDR S&P 500 ETF Trust
SPY
$807B
| $4.06B | 2.57% |
5,951,990
+38,624
| +0.7% | +$26.1M |
|
|
10
Vanguard FTSE Developed Markets ETF
VEA
$236B
| $3.87B | 2.45% |
61,886,335
+3,757,877
| +6% | +$230M |
|
11
iShares 20+ Year Treasury Bond ETF
TLT
$40.6B
| $3.76B | 2.38% |
43,140,136
+1,418,641
| +3% | +$127M |
|
12
iShares Core MSCI EAFE ETF
IEFA
$195B
| $3.13B | 1.98% |
34,998,927
+1,044,074
| +3% | +$92.3M |
|
13
iShares MSCI USA Value Factor ETF
VLUE
$9.47B
| $3.11B | 1.97% |
22,746,544
+586,241
| +3% | +$76.9M |
|
14
iShares MSCI Intl Quality Factor ETF
IQLT
$14.2B
| $2.51B | 1.59% |
55,312,118
+2,269,023
| +4% | +$102M |
|
15
Invesco QQQ Trust
QQQ
$478B
| $1.9B | 1.2% |
3,091,292
-80,718
| -3% | -$49.5M |
|
16
Vanguard Tax-Exempt Bond Index Fund
VTEB
$46B
| $1.84B | 1.17% |
36,651,506
+903,850
| +3% | +$45.5M |
|
17
Vanguard Morningstar Mid-Cap ETF
VO
$109B
| $1.79B | 1.13% |
24,724,648
+617,544
| +3% | +$44.9M |
|
18
Vanguard S&P 500 ETF
VOO
$1.03T
| $1.68B | 1.06% |
2,682,140
+222,705
| +9% | +$138M |
|
19
Dimensional International Value ETF
DFIV
$21.6B
| $1.47B | 0.93% |
29,462,953
+2,578,543
| +10% | +$123M |
|
20
iShares Core Universal USD Bond ETF
IUSB
$43.2B
| $1.33B | 0.84% |
28,622,754
+2,324,731
| +9% | +$109M |
|
21
iShares Core MSCI Emerging Markets ETF
IEMG
$156B
| $1.23B | 0.78% |
18,337,027
-62,486
| -0.3% | -$4.19M |
|
22
iShares Core US Aggregate Bond ETF
AGG
$137B
| $1.23B | 0.78% |
12,278,036
+412,320
| +3% | +$41.4M |
|
23
Vanguard Real Estate ETF
VNQ
$38.3B
| $1.06B | 0.67% |
11,994,193
+1,033,999
| +9% | +$92.9M |
|
24
NVIDIA
NVDA
$5.27T
| $1.04B | 0.66% |
5,596,751
+79,992
| +1% | +$14.9M |
|
25
Apple
AAPL
$4.45T
| $1.01B | 0.64% |
3,708,731
-44,266
| -1% | -$11.9M |
|
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Northwestern Mutual Wealth Management's Q4 2025 Portfolio in Review
As of Q4 2025, Northwestern Mutual Wealth Management held 4,314 positions worth $158B, up 5.4% from $150B the previous quarter. Its ten largest holdings account for 47% of the portfolio.
Northwestern Mutual Wealth Management deployed $5.39B of net new capital in Q4 2025, opening 520 new positions and adding to 1,834 existing holdings. Its largest new stake was Bluerock Private Real Estate Fund: 4,287,735 shares worth $64.3M.
By sector, the portfolio is most concentrated in Technology at 3.4% of assets, down from 3.6% a quarter earlier, followed by Financials and Communication Services.
On the sell side, the largest reduction was Xtrackers MSCI EAFE Hedged Equity ETF, an estimated $94.4M trimmed.
- Northwestern Mutual Wealth Management's largest Q4 2025 buy was Bluerock Private Real Estate Fund: 4,287,735 shares worth $64.3M.
- Northwestern Mutual Wealth Management added most to Vanguard Total Bond Market in Q4 2025, an estimated $319M increase.
- Northwestern Mutual Wealth Management's biggest Q4 2025 reduction was Xtrackers MSCI EAFE Hedged Equity ETF, cutting an estimated $94.4M.
- Northwestern Mutual Wealth Management fully exited iShares iBonds Dec 2025 Term Corporate ETF in Q4 2025, selling an estimated $17.2M.
- Northwestern Mutual Wealth Management's ten largest holdings make up 47% of its $158B portfolio in Q4 2025.
- Northwestern Mutual Wealth Management opened 520 new positions and closed 305 in Q4 2025.
- Northwestern Mutual Wealth Management's portfolio value rose 5.4% quarter-over-quarter to $158B.
Based on Northwestern Mutual Wealth Management's 13F filing for Q4 2025, filed 5 Feb 2026.