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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
(+2.6%)
Cap. Flow
+$282M
Cap. Flow
% of AUM
0.63%
Top 10 Holdings %
Top 10 Hldgs %
28.98%
Holding
2,613
New
247
Increased
776
Reduced
1,214
Closed
248
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Invesco S&P 500 Equal Weight ETF
RSP
|
+$201M |
| 2 |
Royal Bank of Canada
RY
|
+$78.9M |
| 3 |
Brookfield Renewable
BEP
|
+$77.7M |
| 4 |
Shopify
SHOP
|
+$70.6M |
| 5 |
Invesco Senior Loan ETF
BKLN
|
+$66.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$112M |
| 2 |
NVIDIA
NVDA
|
+$101M |
| 3 |
Zillow
ZG
|
+$101M |
| 4 |
Microsoft
MSFT
|
+$80.8M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
1801
Bank First Corp
BFC
$1.76B
| $566K | ﹤0.01% |
4,648
+477
| +11% | +$60.8K |
|
1802
Coursera
COUR
$1.53B
| $566K | ﹤0.01% |
76,907
+41,016
| +114% | +$357K |
|
1803
Rocky Brands
RCKY
$353M
| $565K | ﹤0.01% |
19,262
+1,262
| +7% | +$37.1K |
|
1804
Array Technologies
ARRY
$796M
| $563K | ﹤0.01% |
61,056
-45,127
| -42% | -$387K |
|
1805
Esquire Financial Holdings
ESQ
$1.59B
| $562K | ﹤0.01% |
5,505
+603
| +12% | +$61.1K |
|
1806
Genesco
GCO
$394M
| $560K | ﹤0.01% |
22,611
+7,700
| +52% | +$221K |
|
1807
Kohl's
KSS
$2.22B
| $560K | ﹤0.01% |
27,416
-8,590
| -24% | -$161K |
|
1808
Century Communities
CCS
$2.04B
| $559K | ﹤0.01% |
+9,422
| New | +$573K |
|
1809
Central Pacific Financial
CPF
$1B
| $558K | ﹤0.01% |
17,907
+2,313
| +15% | +$69.7K |
|
1810
TriMas Corp
TRS
$1.39B
| $558K | ﹤0.01% |
15,727
-37,794
| -71% | -$1.32M |
|
1811
First Financial Corp
THFF
$975M
| $557K | ﹤0.01% |
9,223
+801
| +10% | +$46.1K |
|
1812
Johnson Outdoors
JOUT
$512M
| $556K | ﹤0.01% |
+13,100
| New | +$542K |
|
1813
Bumble
BMBL
$359M
| $556K | ﹤0.01% |
155,693
+77,630
| +99% | +$344K |
|
1814
Dakota Gold
DC
$827M
| $555K | ﹤0.01% |
97,627
+57,856
| +145% | +$278K |
|
1815
Waterstone Financial
WSBF
$385M
| $554K | ﹤0.01% |
33,500
+7,500
| +29% | +$118K |
|
1816
Pilgrim's Pride
PPC
$6.57B
| $553K | ﹤0.01% |
14,193
-2,759
| -16% | -$106K |
|
1817
McEwen Inc
MUX
$1.14B
| $553K | ﹤0.01% |
+29,879
| New | +$556K |
|
1818
Global Industrial
GIC
$1.49B
| $552K | ﹤0.01% |
18,877
+6,373
| +51% | +$194K |
|
|
CEPU
1819
Central Puerto
CEPU
$1.99B
| $551K | ﹤0.01% |
+31,481
| New | +$436K |
|
1820
Midland States Bancorp
MSBI
$698M
| $550K | ﹤0.01% |
26,000
+11,400
| +78% | +$201K |
|
1821
Atlantic Union Bankshares
AUB
$6.09B
| $550K | ﹤0.01% |
15,590
-7,114
| -31% | -$244K |
|
1822
Customers Bancorp
CUBI
$2.82B
| $545K | ﹤0.01% |
7,452
-679
| -8% | -$46.6K |
|
1823
Liberty Global Class A
LBTYA
$3.58B
| $543K | ﹤0.01% |
48,749
-87,495
| -64% | -$968K |
|
1824
Center Bancorp
CNOB
$1.81B
| $543K | ﹤0.01% |
+20,692
| New | +$524K |
|
1825
Regenxbio
RGNX
$704M
| $541K | ﹤0.01% |
37,591
+17,860
| +91% | +$223K |
|
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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.