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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
WU icon
1401
Western Union
WU
$2.34B
$1.6M ﹤0.01%
171,685
-67,277
-28% -$594K
PRCH icon
1402
Porch Group
PRCH
$1.83B
$1.59M ﹤0.01%
174,191
+107,283
+160% +$1.29M
CWEN icon
1403
Clearway Energy Class C
CWEN
$7.06B
$1.59M ﹤0.01%
47,669
-3,293
-6% -$110K
POST icon
1404
Post Holdings
POST
$3.65B
$1.58M ﹤0.01%
15,955
-6,295
-28% -$652K
NVRI icon
1405
Enviri
NVRI
$583M
$1.58M ﹤0.01%
87,960
-156
-0.2% -$2.33K
SIGI icon
1406
Selective Insurance
SIGI
$5.59B
$1.56M ﹤0.01%
18,681
-4,945
-21% -$397K
PAGS icon
1407
PagSeguro Digital
PAGS
$2.43B
$1.56M ﹤0.01%
161,732
-10,900
-6% -$105K
ICL icon
1408
ICL Group
ICL
$6.96B
$1.56M ﹤0.01%
+271,410
New +$1.57M
PRDO icon
1409
Perdoceo Education
PRDO
$1.96B
$1.56M ﹤0.01%
53,129
+9,699
+22% +$306K
PAR icon
1410
PAR Technology
PAR
$770M
$1.55M ﹤0.01%
42,849
-1,889
-4% -$68.2K
ERII icon
1411
Energy Recovery
ERII
$397M
$1.53M ﹤0.01%
113,666
-22,630
-17% -$343K
APGE icon
1412
Apogee Therapeutics
APGE
$10.2B
$1.53M ﹤0.01%
20,313
+12,218
+151% +$770K
FTDR icon
1413
Frontdoor
FTDR
$5.83B
$1.53M ﹤0.01%
26,570
-4,544
-15% -$267K
MX icon
1414
Magnachip Semiconductor
MX
$137M
$1.53M ﹤0.01%
600,017
– –
VIST icon
1415
Vista Energy
VIST
$7.31B
$1.52M ﹤0.01%
+31,310
New +$1.42M
FBIN icon
1416
Fortune Brands Innovations
FBIN
$5.83B
$1.52M ﹤0.01%
30,434
-26,841
-47% -$1.35M
TRVI icon
1417
Trevi Therapeutics
TRVI
$2.53B
$1.51M ﹤0.01%
120,566
-2,710
-2% -$31.3K
ONON icon
1418
On Holding
ONON
$10.6B
$1.51M ﹤0.01%
32,453
+2,944
+10% +$127K
ZUMZ icon
1419
Zumiez
ZUMZ
$318M
$1.51M ﹤0.01%
57,893
+1,800
+3% +$43.2K
ZD icon
1420
Ziff Davis
ZD
$1.92B
$1.5M ﹤0.01%
42,650
+6,362
+18% +$222K
BXC icon
1421
BlueLinx
BXC
$701M
$1.5M ﹤0.01%
24,384
+13,711
+128% +$885K
CELC icon
1422
Celcuity
CELC
$4.22B
$1.49M ﹤0.01%
14,952
-4,061
-21% -$334K
IDYA icon
1423
IDEAYA Biosciences
IDYA
$3.56B
$1.49M ﹤0.01%
43,096
-3,669
-8% -$117K
QS icon
1424
QuantumScape Corp
QS
$3.79B
$1.49M ﹤0.01%
142,938
+19,257
+16% +$265K
BHE icon
1425
Benchmark Electronics
BHE
$2.94B
$1.49M ﹤0.01%
34,788
+719
+2% +$31.1K
55 56
57
58 59

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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.