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State of Wisconsin Investment Board

State of Wisconsin Investment Board Portfolio holdings

AUM $43.7B
1-Year Est. Return 27.76%
This Fund
S&P 500
This Quarter Est. Return
+3.81%
1 Year Est. Return
+27.76%
3 Year Est. Return
+95.56%
5 Year Est. Return
+123.77%
10 Year Est. Return
+486.44%
AUM
$44.7B
AUM Growth
+$1.12B
Cap. Flow
+$282M
Cap. Flow %
0.63%
Top 10 Hldgs %
28.98%
Holding
2,613
New
247
Increased
776
Reduced
1,214
Closed
248

Top Buys

Rank Stock Value
1
RSP icon
Invesco S&P 500 Equal Weight ETF
RSP
+$201M
2
RY icon
Royal Bank of Canada
RY
+$78.9M
3
BEP icon
Brookfield Renewable
BEP
+$77.7M
4
SHOP icon
Shopify
SHOP
+$70.6M
5
BKLN icon
Invesco Senior Loan ETF
BKLN
+$66.7M

Top Sells

Rank Stock Value
1
AAPL icon
Apple
AAPL
+$112M
2
NVDA icon
NVIDIA
NVDA
+$101M
3
ZG icon
Zillow
ZG
+$101M
4
MSFT icon
Microsoft
MSFT
+$80.8M
5
AMZN icon
Amazon
AMZN
+$39.8M

Sector Composition

Rank Sector Weight
1 Technology 26.6%
2 Financials 13.19%
3 Communication Services 10.23%
4 Consumer Discretionary 9.12%
5 Healthcare 8.62%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
FIS icon
376
Fidelity National Information Services
FIS
$22.8B
$18.9M 0.04%
284,055
-6,907
-2% -$455K
MDB icon
377
MongoDB
MDB
$38B
$18.9M 0.04%
44,967
-1,623
-3% -$591K
PAYX icon
378
Paychex
PAYX
$44.6B
$18.8M 0.04%
167,812
-4,877
-3% -$571K
ONB icon
379
Old National Bancorp
ONB
$10.4B
$18.8M 0.04%
842,428
+30,952
+4% +$667K
WPM icon
380
Wheaton Precious Metals
WPM
$59.9B
$18.8M 0.04%
+159,306
New +$17.1M
CFG icon
381
Citizens Financial Group
CFG
$31.2B
$18.7M 0.04%
320,651
+11,128
+4% +$598K
ED icon
382
Consolidated Edison
ED
$40.1B
$18.6M 0.04%
186,774
-32,187
-15% -$3.19M
XYZ
383
Block Inc
XYZ
$49.9B
$18.5M 0.04%
284,675
-7,248
-2% -$500K
PCG icon
384
PG&E
PCG
$38.5B
$18.5M 0.04%
1,152,902
-160,563
-12% -$2.56M
OTIS icon
385
Otis Worldwide
OTIS
$27.8B
$18.5M 0.04%
211,862
-3,732
-2% -$334K
XYL icon
386
Xylem
XYL
$28.1B
$18.5M 0.04%
135,508
-1,535
-1% -$221K
CENTA icon
387
Central Garden & Pet Co Class A
CENTA
$2.41B
$18.4M 0.04%
630,522
-297,447
-32% -$8.6M
VEEV icon
388
Veeva Systems
VEEV
$41B
$18.3M 0.04%
82,145
-2,540
-3% -$674K
CNI icon
389
Canadian National Railway
CNI
$77.2B
$18.3M 0.04%
+184,577
New +$17.7M
BCO icon
390
Brink's
BCO
$4.72B
$18.1M 0.04%
155,265
+8,860
+6% +$1.01M
FLUT icon
391
Flutter Entertainment
FLUT
$17.1B
$18.1M 0.04%
84,165
-8,743
-9% -$1.97M
VTRS icon
392
Viatris
VTRS
$18.4B
$17.9M 0.04%
1,438,812
-229,622
-14% -$2.48M
TKO icon
393
TKO Group
TKO
$14.6B
$17.9M 0.04%
85,707
+4,879
+6% +$948K
CCL icon
394
Carnival Corporation Ltd
CCL
$38.9B
$17.8M 0.04%
582,668
-5,906
-1% -$165K
WEC icon
395
WEC Energy
WEC
$35.9B
$17.8M 0.04%
168,501
-847
-0.5% -$93.8K
MTB icon
396
M&T Bank
MTB
$36.6B
$17.8M 0.04%
88,148
-10,960
-11% -$2.09M
CCJ icon
397
Cameco
CCJ
$42.6B
$17.7M 0.04%
+193,533
New +$17.4M
ITT icon
398
ITT
ITT
$19.4B
$17.7M 0.04%
102,223
+2,553
+3% +$457K
STE icon
399
Steris
STE
$23B
$17.7M 0.04%
69,661
+2,319
+3% +$582K
GMED icon
400
Globus Medical
GMED
$11.5B
$17.6M 0.04%
202,127
-22,921
-10% -$1.74M
14 15
16
17 18

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State of Wisconsin Investment Board's Q4 2025 Portfolio in Review

As of Q4 2025, State of Wisconsin Investment Board held 2,613 positions worth $44.7B, up 2.6% from $43.6B the previous quarter. Its ten largest holdings account for 29% of the portfolio.

State of Wisconsin Investment Board's Q4 2025 filing shows 247 new, 776 increased, 1,214 reduced and 248 closed positions. Its largest new stake was Royal Bank of Canada: 513,881 shares worth $87.7M. The largest sale was Apple, an estimated $112M.

By sector, the portfolio is most concentrated in Technology at 27% of assets, down from 28% a quarter earlier, followed by Financials and Communication Services.

  • State of Wisconsin Investment Board's largest Q4 2025 buy was Royal Bank of Canada: 513,881 shares worth $87.7M.
  • State of Wisconsin Investment Board added most to Invesco S&P 500 Equal Weight ETF in Q4 2025, an estimated $201M increase.
  • State of Wisconsin Investment Board's biggest Q4 2025 reduction was Apple, cutting an estimated $112M.
  • State of Wisconsin Investment Board fully exited Xtrackers Harvest CSI 300 China A-Shares ETF in Q4 2025, selling an estimated $24.9M.
  • State of Wisconsin Investment Board's ten largest holdings make up 29% of its $44.7B portfolio in Q4 2025.
  • State of Wisconsin Investment Board opened 247 new positions and closed 248 in Q4 2025.
  • State of Wisconsin Investment Board's portfolio value rose 2.6% quarter-over-quarter to $44.7B.

Based on State of Wisconsin Investment Board's 13F filing for Q4 2025, filed 17 Feb 2026.