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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
VFC icon
1226
VF Corp
VFC
$5.79B
$2.57M 0.01%
142,205
-36,703
-21% -$595K
FTRE icon
1227
Fortrea Holdings
FTRE
$1.69B
$2.55M 0.01%
147,950
-54,053
-27% -$668K
SLG icon
1228
SL Green Realty
SLG
$4.08B
$2.55M 0.01%
55,512
-4,463
-7% -$220K
LAMR icon
1229
Lamar Advertising Co
LAMR
$15.8B
$2.54M 0.01%
20,096
-8,257
-29% -$1.03M
ALEX
1230
DELISTED
Alexander & Baldwin
ALEX
$2.54M 0.01%
123,233
-146,703
-54% -$2.55M
ADEA icon
1231
Adeia
ADEA
$3.16B
$2.54M 0.01%
147,187
+28,729
+24% +$426K
MASI
1232
DELISTED
Masimo
MASI
$2.53M 0.01%
19,490
-2,248
-10% -$322K
NUVL
1233
DELISTED
Nuvalent
NUVL
$2.53M 0.01%
25,197
-3,384
-12% -$334K
CRSP icon
1234
CRISPR Therapeutics
CRSP
$5.22B
$2.53M 0.01%
48,172
-3,495
-7% -$209K
ORGO icon
1235
Organogenesis Holdings
ORGO
$226M
$2.53M 0.01%
487,667
+86,204
+21% +$418K
ESGE icon
1236
iShares ESG Aware MSCI EM ETF
ESGE
$6.86B
$2.52M 0.01%
57,159
– –
HCSG icon
1237
Healthcare Services Group
HCSG
$1.43B
$2.52M 0.01%
131,671
+93,428
+244% +$1.68M
LAUR icon
1238
Laureate Education
LAUR
$5.15B
$2.5M 0.01%
74,185
-22,021
-23% -$680K
PRG icon
1239
PROG Holdings
PRG
$1.64B
$2.49M 0.01%
84,278
-2,819
-3% -$84K
MDU icon
1240
MDU Resources
MDU
$4.27B
$2.48M 0.01%
127,274
-26,524
-17% -$522K
ARGT icon
1241
Global X MSCI Argentina ETF
ARGT
$809M
$2.45M 0.01%
+26,800
New +$2.29M
ALK icon
1242
Alaska Air
ALK
$5.3B
$2.44M 0.01%
48,597
-4,205
-8% -$194K
OI icon
1243
O-I Glass
OI
$1.05B
$2.43M 0.01%
164,747
+584
+0.4% +$7.73K
CHE icon
1244
Chemed
CHE
$7.02B
$2.42M 0.01%
5,665
-1,593
-22% -$693K
PARR icon
1245
Par Pacific Holdings
PARR
$4.12B
$2.42M 0.01%
68,940
-7,464
-10% -$297K
OPEN icon
1246
Opendoor
OPEN
$3.54B
$2.42M 0.01%
414,973
-49,827
-11% -$357K
YELP icon
1247
Yelp
YELP
$1.28B
$2.41M 0.01%
79,222
-9,735
-11% -$300K
SAIC icon
1248
Saic
SAIC
$5.35B
$2.41M 0.01%
23,911
-1,195
-5% -$114K
VKTX icon
1249
Viking Therapeutics
VKTX
$3.84B
$2.39M 0.01%
68,015
+5,119
+8% +$181K
GLXY
1250
Galaxy Digital Inc
GLXY
$4.07B
$2.37M 0.01%
106,213
-7,643
-7% -$237K
48 49
50
51 52

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HF
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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.