NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO
"13F equity value" = market value of this filer's US-listed long equity positions only. It excludes cash, bonds, non-US and short positions, so it understates a fund's true assets under management — often by a lot.
13F holdings are disclosed ~45 days after quarter-end, and they never reveal when within the quarter a fund actually bought. So any 13F-based summary is structurally late and blurred — this applies to every fund, including this one.
We backtested copying it anyway. Buying this fund's new positions the day each filing went public, over 50 quarters, returned +1.7% per quarter — versus +2.1% per quarter from simply owning every 13F stock. It beat that baseline in only 46.0% of quarters (excess t = -0.26, not statistically significant). Its filings tell you what it bought — not what you should buy.
Quarterly compounding, invested quarters only · entry after the actual SEC deadline plus a 2-day buffer
Top 20 holdings of 4084 · 2026 Q2
| Ticker | Value | Weight | QoQ |
|---|---|---|---|
| IVV | $26.2B | | HOLD |
| BND | $10.4B | | ADD +5% |
| IJH | $10.2B | | ADD +3% |
| SCHF | $8.6B | | ADD +2% |
| IJR | $6.6B | | ADD +3% |
| RSP | $6.0B | | ADD +4% |
| VEA | $4.8B | | ADD +4% |
| SPY | $4.7B | | ADD +2% |
| VWO | $4.6B | | TRIM −3% |
| FBND | $4.6B | | ADD +6% |
| IEFA | $3.6B | | ADD +3% |
| TLT | $3.4B | | TRIM −12% |
| AVLV | $3.0B | | ADD ×13.5 |
| IQLT | $2.9B | | ADD +4% |
| QQQ | $2.3B | | HOLD |
| VOO | $2.2B | | ADD +11% |
| VO | $2.0B | | TRIM −3% |
| VTEB | $1.9B | | HOLD |
| DFIV | $1.8B | | ADD +8% |
| IEMG | $1.7B | | ADD +4% |
QoQ vs previous quarter's share count · NEW = new position · ADD/TRIM = ±2% shares · HOLD = unchanged.
New positions in 2026 Q2
Method & Limitations
Method: a "new position" = held this quarter, absent last quarter (options excluded; stocks with <50 prior holders excluded to filter spin-off artifacts). Entry is the first trading session after the actual SEC filing deadline plus a 2-day buffer. Benchmark = equal-weighted universe of all 13F-held stocks. Limitations: quarterly snapshots can't see intra-quarter trades; survivorship bias — funds that shut down are absent, which flatters the sample. Statistics, not advice.