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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
WSM icon
401
Williams-Sonoma
WSM
$28.5B
$17.5M 0.04%
98,115
+3,311
+3% +$620K
ADM icon
402
Archer Daniels Midland
ADM
$38.6B
$17.5M 0.04%
304,550
-16,145
-5% -$965K
ES icon
403
Eversource Energy
ES
$27.2B
$17.4M 0.04%
257,748
+30,779
+14% +$2.16M
KVUE icon
404
Kenvue
KVUE
$36.9B
$17.3M 0.04%
1,004,844
-42,364
-4% -$693K
WRB icon
405
W.R. Berkley
WRB
$26.2B
$17.3M 0.04%
246,565
-29,565
-11% -$2.18M
RJF icon
406
Raymond James Financial
RJF
$34.8B
$17.3M 0.04%
107,597
-17,330
-14% -$2.8M
IBKR icon
407
Interactive Brokers
IBKR
$41.4B
$17.3M 0.04%
268,380
+28,677
+12% +$1.92M
GRMN
408
Garmin
GRMN
$60.2B
$17.2M 0.04%
84,766
-959
-1% -$209K
FITB
409
Fifth Third Bancorp
FITB
$52.5B
$17.2M 0.04%
367,297
-9,087
-2% -$400K
EMF
410
Templeton Emerging Markets Fund
EMF
$332M
$17.1M 0.04%
1,006,525
– –
TPL icon
411
Texas Pacific Land
TPL
$23.9B
$17M 0.04%
59,118
-6,684
-10% -$2.04M
RF icon
412
Regions Financial
RF
$27B
$16.9M 0.04%
623,406
-164,427
-21% -$4.2M
ULTA icon
413
Ulta Beauty
ULTA
$22.2B
$16.9M 0.04%
27,885
+2,967
+12% +$1.63M
WCC
414
WESCO International
WCC
$17.5B
$16.8M 0.04%
68,863
+4,482
+7% +$1.1M
CBOE icon
415
Cboe Global Markets
CBOE
$30.6B
$16.8M 0.04%
67,038
+178
+0.3% +$44.3K
JLL icon
416
Jones Lang LaSalle
JLL
$17B
$16.8M 0.04%
49,859
-1,867
-4% -$585K
TYL icon
417
Tyler Technologies
TYL
$13.5B
$16.8M 0.04%
36,945
-337
-0.9% -$161K
TER icon
418
Teradyne
TER
$64.2B
$16.8M 0.04%
86,573
-5,318
-6% -$912K
DOV icon
419
Dover
DOV
$27.8B
$16.8M 0.04%
85,821
-10,481
-11% -$1.91M
LDOS icon
420
Leidos
LDOS
$17.9B
$16.7M 0.04%
92,471
+1,300
+1% +$246K
WTW icon
421
Willis Towers Watson
WTW
$31B
$16.6M 0.04%
50,495
-1,619
-3% -$530K
NRG icon
422
NRG Energy
NRG
$25.2B
$16.6M 0.04%
103,958
-10,015
-9% -$1.66M
RACE icon
423
Ferrari
RACE
$72.5B
$16.6M 0.04%
+44,225
New +$17.7M
DTE icon
424
DTE Energy
DTE
$29B
$16.5M 0.04%
127,972
+2,249
+2% +$305K
SNDK
425
Sandisk
SNDK
$223B
$16.4M 0.04%
69,240
-24,337
-26% -$4.87M
15 16
17
18 19

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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.