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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
CHTR icon
701
Charter Communications
CHTR
$18.7B
$9.61M 0.02%
46,059
-658
-1% -$148K
MGY icon
702
Magnolia Oil & Gas
MGY
$6.13B
$9.57M 0.02%
437,081
+42,742
+11% +$972K
CDP icon
703
COPT Defense Properties
CDP
$4.23B
$9.54M 0.02%
343,335
+16,282
+5% +$469K
FROG icon
704
JFrog
FROG
$11.5B
$9.52M 0.02%
152,439
-13,981
-8% -$795K
HII icon
705
Huntington Ingalls Industries
HII
$12.8B
$9.52M 0.02%
27,996
+11,393
+69% +$3.54M
NXST icon
706
Nexstar Media Group
NXST
$5.81B
$9.49M 0.02%
46,743
+1,784
+4% +$348K
EAT icon
707
Brinker International
EAT
$10.2B
$9.43M 0.02%
65,712
+28,195
+75% +$3.69M
FSS icon
708
Federal Signal
FSS
$7.51B
$9.43M 0.02%
86,824
-8,306
-9% -$951K
ALB icon
709
Albemarle
ALB
$15.4B
$9.41M 0.02%
66,511
-12,110
-15% -$1.37M
GEN icon
710
Gen Digital
GEN
$17.7B
$9.4M 0.02%
345,560
-173,080
-33% -$4.66M
ASTS icon
711
AST SpaceMobile
ASTS
$21.4B
$9.38M 0.02%
129,135
+4,218
+3% +$301K
AHR icon
712
American Healthcare REIT
AHR
$10.3B
$9.35M 0.02%
198,706
+16,199
+9% +$751K
LFUS icon
713
Littelfuse
LFUS
$11.4B
$9.34M 0.02%
36,913
+1,071
+3% +$273K
CR icon
714
Crane Co
CR
$12.7B
$9.33M 0.02%
50,603
-1,516
-3% -$281K
BWIN
715
Baldwin Insurance Group
BWIN
$2.99B
$9.31M 0.02%
387,478
+24,139
+7% +$615K
RMBS icon
716
Rambus
RMBS
$10.8B
$9.31M 0.02%
101,320
-13,674
-12% -$1.35M
FBP icon
717
First Bancorp
FBP
$4.49B
$9.29M 0.02%
448,016
+17,549
+4% +$362K
WK icon
718
Workiva
WK
$4.01B
$9.26M 0.02%
107,407
+3,386
+3% +$300K
RGLD icon
719
Royal Gold
RGLD
$19.1B
$9.24M 0.02%
41,553
+22,819
+122% +$4.53M
VOYA icon
720
Voya Financial
VOYA
$9.16B
$9.23M 0.02%
123,877
-1,968
-2% -$143K
XENE icon
721
Xenon Pharmaceuticals
XENE
$6.21B
$9.21M 0.02%
205,569
-2,803
-1% -$118K
FTS icon
722
Fortis
FTS
$28.8B
$9.19M 0.02%
+176,474
New +$9.04M
CHEF icon
723
Chefs' Warehouse
CHEF
$4.57B
$9.17M 0.02%
147,052
+7,592
+5% +$457K
BURL icon
724
Burlington
BURL
$22.4B
$9.16M 0.02%
31,726
-2,354
-7% -$639K
WH icon
725
Wyndham Hotels & Resorts
WH
$5.51B
$9.16M 0.02%
121,167
-3,932
-3% -$296K
27 28
29
30 31

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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.