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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
WAY
851
Waystar Holding Corp
WAY
$4.81B
$7.13M 0.02%
217,631
+4,688
+2% +$167K
GPK icon
852
Graphic Packaging
GPK
$3.51B
$7.05M 0.02%
468,121
-100,920
-18% -$1.66M
MOD icon
853
Modine Manufacturing
MOD
$10.8B
$7.03M 0.02%
52,686
+1,199
+2% +$179K
AROC icon
854
Archrock
AROC
$5.85B
$7.01M 0.02%
269,549
+5,183
+2% +$129K
ASO icon
855
Academy Sports + Outdoors
ASO
$3.03B
$7.01M 0.02%
140,312
+5,673
+4% +$281K
BMRN icon
856
BioMarin Pharmaceuticals
BMRN
$13.3B
$7M 0.02%
117,743
+5,534
+5% +$301K
BBIO icon
857
BridgeBio Pharma
BBIO
$15.9B
$6.99M 0.02%
91,403
+151
+0.2% +$9.91K
APG icon
858
APi Group
APG
$18.8B
$6.99M 0.02%
182,724
-4,567
-2% -$169K
CG icon
859
Carlyle Group
CG
$18.3B
$6.99M 0.02%
118,264
-4,790
-4% -$272K
TMHC
860
DELISTED
Taylor Morrison
TMHC
$6.96M 0.02%
118,257
+803
+0.7% +$49.1K
CRL icon
861
Charles River Laboratories
CRL
$13.4B
$6.94M 0.02%
34,797
-6,648
-16% -$1.21M
KMPR icon
862
Kemper
KMPR
$1.59B
$6.92M 0.02%
170,723
+2,026
+1% +$86.8K
MAC icon
863
Macerich
MAC
$6.99B
$6.9M 0.02%
373,524
+4,925
+1% +$86.8K
TTMI icon
864
TTM Technologies
TTMI
$14.6B
$6.88M 0.02%
99,776
+302
+0.3% +$19.7K
PECO icon
865
Phillips Edison & Co
PECO
$5.2B
$6.86M 0.02%
192,825
+428
+0.2% +$14.9K
TW icon
866
Tradeweb Markets
TW
$22.3B
$6.85M 0.02%
63,732
+709
+1% +$76.1K
IMO icon
867
Imperial Oil
IMO
$64B
$6.83M 0.02%
+78,969
New +$7.19M
CENX icon
868
Century Aluminum
CENX
$4.59B
$6.81M 0.02%
173,939
+46,239
+36% +$1.44M
EVER icon
869
EverQuote
EVER
$864M
$6.8M 0.02%
251,998
+15,128
+6% +$367K
DKS icon
870
Dick's Sporting Goods
DKS
$18.1B
$6.79M 0.02%
34,274
-868
-2% -$189K
CASH icon
871
Pathward Financial
CASH
$1.79B
$6.78M 0.02%
95,505
+4,753
+5% +$341K
GPI icon
872
Group 1 Automotive
GPI
$3.14B
$6.78M 0.02%
17,229
+299
+2% +$123K
WYNN icon
873
Wynn Resorts
WYNN
$10.5B
$6.74M 0.02%
56,042
+6,136
+12% +$759K
ELAN icon
874
Elanco Animal Health
ELAN
$11.2B
$6.74M 0.02%
297,950
-20,506
-6% -$446K
VRNS icon
875
Varonis Systems
VRNS
$5.26B
$6.73M 0.02%
205,271
-29,005
-12% -$1.22M
33 34
35
36 37

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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.