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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
THC icon
451
Tenet Healthcare
THC
$21.5B
$15.7M 0.04%
78,888
-2,743
-3% -$554K
NTRS icon
452
Northern Trust
NTRS
$34.8B
$15.7M 0.04%
114,737
-5,688
-5% -$747K
AYI icon
453
Acuity Brands
AYI
$10.8B
$15.6M 0.03%
43,365
+83
+0.2% +$30K
ACI icon
454
Albertsons Companies
ACI
$6.02B
$15.6M 0.03%
908,083
-148,957
-14% -$2.66M
VTEB icon
455
Vanguard Tax-Exempt Bond Index Fund
VTEB
$46.1B
$15.5M 0.03%
309,000
– –
HPQ icon
456
HP
HPQ
$28.6B
$15.5M 0.03%
694,687
+71,507
+11% +$1.82M
GIS icon
457
General Mills
GIS
$20.8B
$15.4M 0.03%
331,944
+13,992
+4% +$665K
RKLB icon
458
Rocket Lab Corp
RKLB
$51.2B
$15.4M 0.03%
220,341
-13,663
-6% -$783K
CSGP icon
459
CoStar Group
CSGP
$13.4B
$15.4M 0.03%
228,542
-23,241
-9% -$1.65M
KGC icon
460
Kinross Gold
KGC
$31.9B
$15.3M 0.03%
+543,837
New +$14.1M
IDCC icon
461
InterDigital
IDCC
$8.88B
$15.3M 0.03%
48,071
+1,650
+4% +$583K
FTAI icon
462
FTAI Aviation
FTAI
$22.2B
$15.3M 0.03%
77,594
-3,804
-5% -$648K
RVTY icon
463
Revvity
RVTY
$13.1B
$15.3M 0.03%
157,805
+1,857
+1% +$178K
CLS icon
464
Celestica
CLS
$43.8B
$15.3M 0.03%
+51,500
New +$15.5M
DOO
465
Bombardier Recreational Products
DOO
$4.75B
$15.2M 0.03%
+214,827
New +$14.6M
PNW icon
466
Pinnacle West Capital
PNW
$12.2B
$15.2M 0.03%
171,063
+48,603
+40% +$4.35M
FNV icon
467
Franco-Nevada
FNV
$44.7B
$15.1M 0.03%
+72,585
New +$14.7M
NTRA icon
468
Natera
NTRA
$44.8B
$15.1M 0.03%
65,711
-2,528
-4% -$527K
WAT icon
469
Waters Corp
WAT
$40.6B
$15M 0.03%
39,485
-1,645
-4% -$605K
ESI icon
470
Element Solutions
ESI
$9.51B
$14.9M 0.03%
597,191
+687
+0.1% +$17.8K
WTS icon
471
Watts Water Technologies
WTS
$12.8B
$14.9M 0.03%
54,036
+1,581
+3% +$436K
PKG icon
472
Packaging Corp of America
PKG
$22.9B
$14.9M 0.03%
72,226
+6,877
+11% +$1.4M
MTD icon
473
Mettler-Toledo International
MTD
$28.7B
$14.9M 0.03%
10,664
-262
-2% -$366K
CLH icon
474
Clean Harbors
CLH
$16.9B
$14.8M 0.03%
63,013
-17,294
-22% -$3.95M
CNC icon
475
Centene
CNC
$32.6B
$14.8M 0.03%
358,809
+26,292
+8% +$984K
17 18
19
20 21

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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.