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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
NFLX icon
26
Netflix
NFLX
$309B
$211M 0.47%
2,245,114
-89,086
-4% -$9.6M
ABBV icon
27
AbbVie
ABBV
$440B
$210M 0.47%
919,423
-15,619
-2% -$3.56M
BAC icon
28
Bank of America
BAC
$453B
$203M 0.45%
3,699,216
-229,640
-6% -$12.1M
COST icon
29
Costco
COST
$421B
$200M 0.45%
232,243
-4,643
-2% -$4.21M
NWSA icon
30
News Corp Class A
NWSA
$15.5B
$192M 0.43%
7,365,364
+275,480
+4% +$7.23M
AMD icon
31
Advanced Micro Devices
AMD
$788B
$180M 0.4%
840,983
-17,740
-2% -$3.98M
HD icon
32
Home Depot
HD
$342B
$178M 0.4%
516,039
-6,832
-1% -$2.5M
GE icon
33
GE Aerospace
GE
$379B
$176M 0.39%
570,746
-43,089
-7% -$13M
PG icon
34
Procter & Gamble
PG
$335B
$174M 0.39%
1,212,826
-60,865
-5% -$8.97M
ORCL icon
35
Oracle
ORCL
$442B
$173M 0.39%
888,397
-2,092
-0.2% -$498K
MU icon
36
Micron Technology
MU
$1.03T
$166M 0.37%
581,631
-6,183
-1% -$1.42M
CSCO icon
37
Cisco
CSCO
$488B
$160M 0.36%
2,074,120
-163,893
-7% -$12.2M
UNH icon
38
UnitedHealth
UNH
$364B
$155M 0.35%
469,282
-10,026
-2% -$3.4M
WFC icon
39
Wells Fargo
WFC
$269B
$155M 0.35%
1,659,110
-34,174
-2% -$2.97M
CVX icon
40
Chevron
CVX
$386B
$152M 0.34%
998,453
-33,521
-3% -$5.11M
KO icon
41
Coca-Cola
KO
$373B
$148M 0.33%
2,119,742
-79,026
-4% -$5.51M
IBM icon
42
IBM
IBM
$222B
$145M 0.32%
489,341
-14,054
-3% -$4.21M
HAPS icon
43
Harbor Human Capital Factor US Small Cap ETF
HAPS
$176M
$142M 0.32%
4,520,000
– –
CAT icon
44
Caterpillar
CAT
$393B
$141M 0.31%
245,658
-6,388
-3% -$3.55M
GS icon
45
Goldman Sachs
GS
$302B
$139M 0.31%
158,528
-4,539
-3% -$3.7M
EEM icon
46
iShares MSCI Emerging Markets ETF
EEM
$30.4B
$138M 0.31%
2,528,628
– –
MRK icon
47
Merck
MRK
$328B
$136M 0.3%
1,294,096
-106,714
-8% -$10M
EFFI
48
Harbor Osmosis International Resource Efficient ETF
EFFI
$155M
$133M 0.3%
5,500,000
– –
BEP icon
49
Brookfield Renewable
BEP
$10.3B
$131M 0.29%
4,867,084
+2,732,542
+128% +$77.7M
RTX icon
50
RTX Corp
RTX
$300B
$131M 0.29%
715,069
+4,286
+0.6% +$745K
1
2
3 4 5

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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.