13F Insight
DOSSIER · 13F-HR · Q2 2026

NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO

$187.2B in tracked AUM across 4,085 positions as of Q2 2026.

NM
CIK 0001141802 · last filed Jun 30, 2026
Total AUM
$187.2B
as of Q2 2026
Holdings
4,085
—
positions
Whale Score
76
76
strong
Activity
—
no data
changes this Q
AI Analysis · Q2 2026

Northwestern Mutual Wealth Management reported $162.4B across 4,113 positions for Q1 2026, up from $158.1B. The book is almost entirely an ETF allocation engine — $112.8B in funds — anchored by iShares Core S&P 500 (IVV, 13.91%), Vanguard Total Bond (BND, 6.11%) and iShares Core S&P Mid-Cap (IJH, 5.36%). The quarter's reallocation added mid-cap, international and small-cap exposure — IJH (+$463M), Schwab International (SCHF, +$324M), iShares Small-Cap (IJR, +$285M) — while trimming the large-cap IVV core and adding a new $1.8B QQQ stake.

An index-fund chassis. The top of the book is a textbook diversified allocation: iShares Core S&P 500 (IVV) at 13.91% ($22.6B), Vanguard Total Bond Market (BND) at 6.11%, iShares Core S&P Mid-Cap (IJH) at 5.36%, Schwab International Equity (SCHF) at 4.61% and iShares Core S&P Small-Cap (IJR) at 3.32%. Bonds, mid-caps, small-caps and international are all represented through low-cost wrappers.

The reallocation. With 42 positions increased and only five decreased, the quarter was an active rebalancing of sleeves rather than a single bet. Tellingly, the large-cap IVV core was trimmed (-$577M) while mid-cap (IJH, +$463M), international (SCHF, +$324M; Vanguard Developed Markets VEA, +$245M) and small-cap (IJR, +$285M) exposures were added — a deliberate broadening away from US large-cap dominance.

Analysis generated by 13F Insight from SEC Form 13F filing data · Q2 2026. Methodology

Quarter at a glance — Q2 2026

Position-change comparison pending.

No quarter-over-quarter changes available.

Top 10 holdings

By portfolio weight as of Q2 2026.

#HoldingValueSharesWeight
01
IVV
ISHARES TR
$26.2B35.0M14.0%02
BND
VANGUARD BD INDEX FDS
$10.4B141.3M5.5%03
IJH
ISHARES TR
$10.2B132.8M5.5%04
SCHF
SCHWAB STRATEGIC TR
$8.6B309.4M4.6%05
IJR
ISHARES TR
$6.6B44.6M3.5%06
RSP
INVESCO EXCHANGE TRADED FD T
$6.0B28.2M3.2%07
VEA
VANGUARD TAX-MANAGED FDS
$4.8B66.8M2.5%08
SPY
STATE STR SPDR S&P 500 ETF T
$4.7B6.2M2.5%09
VWO
VANGUARD INTL EQUITY INDEX F
$4.6B77.6M2.5%10
FBND
FIDELITY MERRIMACK STR TR
$4.6B101.7M2.5%

Filing history

2026Q2Jun 30
$187.2B▲ 15.3%
4,085 positionsView →2026Q1Mar 31
$162.4B▲ 2.7%
4,113 positionsView →2025Q4Dec 31
$158.1B▲ 5.4%
4,007 positionsView →2025Q3Sep 30
$150.0B▲ 9.3%
3,789 positionsView →2025Q2Jun 30
$137.2B▲ 12.2%
3,653 positionsLocked2025Q1Mar 31
$122.3B▲ 3.2%
3,648 positionsLocked2024Q4Dec 31
$118.5B▲ 5.3%
3,588 positionsLocked2024Q3Sep 30
$112.6B▲ 11.0%
3,585 positionsLocked2024Q2Jun 30
$101.4B▲ 4.2%
3,482 positionsLocked2024Q1Mar 31
$97.3B▲ 9.7%
3,555 positionsLocked2023Q4Dec 31
$88.7B▲ 15.3%
3,461 positionsLocked2023Q3Sep 30
$76.9B▼ 0.6%
3,266 positionsLocked
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