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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
CRM icon
51
Salesforce
CRM
$158B
$131M 0.29%
494,369
-29,028
-6% -$7.21M
PM icon
52
Philip Morris
PM
$290B
$130M 0.29%
813,108
-50,074
-6% -$7.76M
EFFE
53
Harbor Osmosis Emerging Markets Resource Efficient ETF
EFFE
$145M
$119M 0.27%
5,140,000
– –
LRCX icon
54
Lam Research
LRCX
$408B
$117M 0.26%
685,944
-9,974
-1% -$1.55M
FWONA icon
55
Liberty Media Series A
FWONA
$23.7B
$116M 0.26%
1,301,839
-84,530
-6% -$7.59M
TMO icon
56
Thermo Fisher Scientific
TMO
$223B
$116M 0.26%
199,535
-3,570
-2% -$2.02M
MS icon
57
Morgan Stanley
MS
$342B
$116M 0.26%
651,061
-13,088
-2% -$2.18M
C icon
58
Citigroup
C
$231B
$115M 0.26%
981,921
-55,490
-5% -$5.76M
ABT icon
59
Abbott
ABT
$192B
$113M 0.25%
902,796
-11,039
-1% -$1.41M
MCD icon
60
McDonald's
MCD
$195B
$113M 0.25%
369,760
-6,304
-2% -$1.93M
AXP icon
61
American Express
AXP
$232B
$112M 0.25%
302,405
-5,359
-2% -$1.92M
ISRG icon
62
Intuitive Surgical
ISRG
$142B
$109M 0.24%
193,289
-4,946
-2% -$2.63M
IVV icon
63
iShares Core S&P 500 ETF
IVV
$904B
$108M 0.24%
158,110
+62,525
+65% +$42.5M
DIS icon
64
Walt Disney
DIS
$178B
$108M 0.24%
951,365
-30,006
-3% -$3.3M
AMAT icon
65
Applied Materials
AMAT
$435B
$107M 0.24%
418,007
-10,904
-3% -$2.61M
LIN icon
66
Linde
LIN
$221B
$105M 0.23%
245,859
-4,629
-2% -$1.98M
PEP icon
67
PepsiCo
PEP
$189B
$103M 0.23%
715,924
-16,108
-2% -$2.37M
INTC icon
68
Intel
INTC
$509B
$98.5M 0.22%
2,670,144
+377,070
+16% +$14.2M
T icon
69
AT&T
T
$166B
$96.9M 0.22%
3,899,079
-314,021
-7% -$7.95M
GEV icon
70
GE Vernova
GEV
$277B
$96.2M 0.21%
147,142
-10,279
-7% -$6.26M
INTU icon
71
Intuit
INTU
$91.6B
$95.7M 0.21%
144,465
-6,791
-4% -$4.49M
QCOM icon
72
Qualcomm
QCOM
$171B
$95.1M 0.21%
556,143
-19,922
-3% -$3.41M
AMGN icon
73
Amgen
AMGN
$225B
$91.3M 0.2%
278,964
-3,931
-1% -$1.25M
SCHW
74
Charles Schwab
SCHW
$189B
$91.1M 0.2%
911,566
-95,008
-9% -$9.01M
BIP icon
75
Brookfield Infrastructure Partners
BIP
$18.2B
$90.1M 0.2%
2,592,339
+1,762,436
+212% +$61.4M
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.