Northwestern Mutual Investment Management portfolio

What changed this quarter

309 positions with a change (18 new, 100 added to, 181 trimmed, 10 sold); also, 3 exited through an acquisition or merger, 1 entered through a spin-off. 8 are listed here: those of 0.5 points of the portfolio or more (up to 12).

• iShares Broad USD High Yield ETF+1,004%more sharesIncreased
  0.4% → 3.8%
• Ishares Tr+510%more sharesIncreased
  0.7% → 3.5%
• iShares Core S&P 500 ETF+17%more sharesIncreased
  11.9% → 12.3%
• Vanguard S&P 500 ETF+41%more sharesIncreased
  5.0% → 6.2%
• Ishares Tr+32%more sharesIncreased
  5.7% → 5.8%
• iShares Msci Eafe ETF−7.7%fewer sharesReduced
  16.6% → 12.7%
• State Street SPDR BB High Yield Bond ETF+0.6 ppof portfolioNew
  — → 0.6%
• Vanguard Long-term Corp Bond ETF+48%more sharesIncreased
  1.5% → 1.7%

The figure on the right: for positions added to or trimmed, the change in the number of shares (%); for new and sold ones, the points of the portfolio moved (pp). Below, the portfolio weight before → after. Traded weight?: what it bought or sold, excluding price effects.

Top holdings

• iShares Msci Eafe ETFEFA12.7%
• iShares Core S&P 500 ETFIVV12.3%
• iShares Core S&P Small-cap E ETFIJR8.7%
• iShares Core S&P Midcap ETFIJH7.7%
• Vanguard S&P 500 ETFVOO6.2%
• Ishares TrLQD5.8%
• iShares Broad USD High Yield ETFUSHY3.8%
• Ishares TrHYG3.5%
• iShares 20+ Year Treasury BD ETFTLT3.0%
• NVIDIANVDA1.8%
• Vanguard Long-term Corp Bond ETFVCLT1.7%
• AppleAAPL1.6%
• AlphabetGOOGL · GOOG1.4%
• MicrosoftMSFT1.0%
• Amazon.comAMZN0.9%
• BroadcomAVGO0.7%
• State Street SPDR BB High Yield Bond ETFJNK0.6%
• Micron TechnologyMU0.5%
• iShares Core U.s. Aggregate ETFAGG0.5%
• Meta PlatformsMETA0.5%
• Pimco Enhanced Short Maturit ETFMINT0.5%
• TeslaTSLA0.4%
• Eli LillyLLY0.4%
• Advanced Micro DevicesAMD0.4%
• Berkshire HathawayBRK/B0.3%
• JPMorgan ChaseJPM0.3%
• IntelINTC0.2%
• Johnson & JohnsonJNJ0.2%
• Applied MaterialsAMAT0.2%
• VisaV0.2%
• Exxon MobilXOM0.2%
• Lam ResearchLRCX0.2%
• WalmartWMT0.2%
• CaterpillarCAT0.2%
• Cisco SystemsCSCO0.2%
• AbbVieABBV0.2%
• Costco WholesaleCOST0.2%
• MastercardMA0.2%
• iShares 10+ Year INV GR ETFIGLB0.2%
• KLAKLAC0.1%
• GE AerospaceGE0.1%
• UnitedHealth GroupUNH0.1%
• Bank of AmericaBAC0.1%
• Home DepotHD0.1%
• Procter & GamblePG0.1%
• SandiskSNDK0.1%
• MerckMRK0.1%
• GE VernovaGEV0.1%
• Coca-ColaKO0.1%
• ChevronCVX0.1%
• NetflixNFLX0.1%
• Goldman Sachs GroupGS0.1%
• Palo Alto NetworksPANW0.1%
• Texas InstrumentsTXN0.1%
• Palantir TechnologiesPLTR0.1%
• International Business MachinesIBM0.1%
• Marvell TechnologyMRVL0.1%
• RTXRTX0.1%
• Wells FargoWFC0.1%
• Morgan StanleyMS0.1%
• OracleORCL0.1%
• Franco NevadaFNV0.1%
• CitigroupC0.1%
• Western DigitalWDC0.1%
• TwilioTWLO0.1%
• AmphenolAPH0.1%
• Carpenter TechnologyCRS0.1%
• MKSMKSI0.1%
• CorningGLW0.1%
• Curtiss-wrightCW0.1%
• AmgenAMGN0.1%
• QualcommQCOM0.1%
• CrowdStrike HoldingsCRWD0.1%
• Analog DevicesADI0.1%
• EntegrisENTG0.1%
• McDONALD’SMCD0.1%
• ATIATI0.1%
• IlluminaILMN0.1%
• Thermo Fisher ScientificTMO0.1%
• PepsicoPEP0.1%
• Nextera EnergyNEE0.1%
• Sterling InfrastructureSTRL0.1%
• American ExpressAXP0.1%
• MasTecMTZ0.1%
• WoodwardWWD0.1%
• Verizon CommunicationsVZ0.1%
• Arista NetworksANET0.1%
• MACOM Technology Solutions HoldingsMTSI0.1%
• EverpureP0.1%
• BoeingBA0.1%
• XPOXPO0.1%
• TJXTJX0.1%
• Walt DisneyDIS0.1%
• Union PacificUNP0.1%
• United TherapeuticsUTHR0.1%
• OktaOKTA0.1%
• WelltowerWELL0.1%
• DeereDE0.1%
• Abbott LaboratoriesABT0.1%