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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
AVTR icon
976
Avantor
AVTR
$9.42B
$5.29M 0.01%
461,936
+3,824
+0.8% +$47.1K
KNSL icon
977
Kinsale Capital Group
KNSL
$8.51B
$5.26M 0.01%
13,456
-1,146
-8% -$467K
ARWR icon
978
Arrowhead Research
ARWR
$12.3B
$5.26M 0.01%
79,214
+14,339
+22% +$703K
MICC
979
The Magnum Ice Cream Company N.V.
MICC
$12.3B
$5.26M 0.01%
+328,809
New +$5.16M
DINO icon
980
HF Sinclair
DINO
$15.6B
$5.26M 0.01%
114,099
-49,174
-30% -$2.53M
DCI icon
981
Donaldson
DCI
$11.2B
$5.24M 0.01%
59,073
-5,847
-9% -$508K
OLED icon
982
Universal Display
OLED
$4.23B
$5.24M 0.01%
44,848
+8,635
+24% +$1.12M
OGE icon
983
OGE Energy
OGE
$9.69B
$5.23M 0.01%
122,410
-8,217
-6% -$367K
ENS icon
984
EnerSys
ENS
$6.81B
$5.22M 0.01%
35,604
-1,780
-5% -$238K
ECVT icon
985
Ecovyst
ECVT
$1.09B
$5.21M 0.01%
535,412
-7,053
-1% -$61.5K
GSHD icon
986
Goosehead Insurance
GSHD
$2.33B
$5.2M 0.01%
70,582
+3,874
+6% +$276K
FCFS icon
987
FirstCash
FCFS
$9.28B
$5.19M 0.01%
32,586
-2,884
-8% -$454K
ROIV icon
988
Roivant Sciences
ROIV
$26.2B
$5.19M 0.01%
239,254
+20,524
+9% +$405K
LAZ icon
989
Lazard
LAZ
$4.24B
$5.18M 0.01%
106,611
-554
-0.5% -$27.6K
BANR icon
990
Banner Corp
BANR
$2.5B
$5.17M 0.01%
82,588
+2,368
+3% +$150K
AGCO icon
991
AGCO
AGCO
$7.11B
$5.17M 0.01%
49,545
+419
+0.9% +$44.6K
CORZ icon
992
Core Scientific
CORZ
$6.36B
$5.13M 0.01%
352,190
+78,289
+29% +$1.37M
S icon
993
SentinelOne
S
$8.17B
$5.11M 0.01%
340,904
-53,871
-14% -$882K
SWK icon
994
Stanley Black & Decker
SWK
$15.5B
$5.11M 0.01%
68,833
-16,616
-19% -$1.17M
OPLN
995
Openlane
OPLN
$4.34B
$5.11M 0.01%
171,642
-490
-0.3% -$13.3K
MMSI icon
996
Merit Medical Systems
MMSI
$5.45B
$5.1M 0.01%
57,904
-23,010
-28% -$1.96M
CART icon
997
Maplebear
CART
$11.2B
$5.05M 0.01%
112,192
-12,589
-10% -$515K
PENG
998
Penguin Solutions Inc
PENG
$3.12B
$5.01M 0.01%
256,103
+89,494
+54% +$1.92M
UGI icon
999
UGI
UGI
$7.53B
$5.01M 0.01%
133,797
-26,569
-17% -$941K
MGA icon
1000
Magna International
MGA
$18.6B
$5.01M 0.01%
+93,812
New +$4.58M
38 39
40
41 42

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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.