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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
TRN icon
1876
Trinity Industries
TRN
$2.34B
$474K ﹤0.01%
17,924
-4,048
-18% -$110K
HNGE
1877
Hinge Health
HNGE
$7.05B
$474K ﹤0.01%
10,200
-509
-5% -$24.5K
EDN
1878
Edenor
EDN
$1.04B
$473K ﹤0.01%
+15,804
New +$440K
SFNC icon
1879
Simmons First National
SFNC
$3.46B
$473K ﹤0.01%
25,099
+12,320
+96% +$228K
PVLA
1880
Palvella Therapeutics
PVLA
$2.26B
$472K ﹤0.01%
+4,513
New +$385K
MSGE icon
1881
Madison Square Garden
MSGE
$3.99B
$472K ﹤0.01%
8,760
+1,056
+14% +$50.8K
KOP icon
1882
Koppers
KOP
$874M
$472K ﹤0.01%
17,418
-23,147
-57% -$647K
STOK icon
1883
Stoke Therapeutics
STOK
$2.02B
$470K ﹤0.01%
+14,819
New +$445K
CARS icon
1884
Cars.com
CARS
$672M
$470K ﹤0.01%
38,527
+11,329
+42% +$132K
AMPH icon
1885
Amphastar Pharmaceuticals
AMPH
$858M
$469K ﹤0.01%
17,506
-3,828
-18% -$98.6K
PAX icon
1886
Patria Investments
PAX
$1.88B
$469K ﹤0.01%
29,487
+3,934
+15% +$58.9K
PCYO icon
1887
Pure Cycle
PCYO
$273M
$468K ﹤0.01%
42,600
-800
-2% -$8.95K
GLRE icon
1888
Greenlight Captial
GLRE
$512M
$466K ﹤0.01%
31,981
+2,000
+7% +$26.3K
QURE icon
1889
uniQure
QURE
$3.26B
$464K ﹤0.01%
19,390
+15,822
+443% +$611K
MCS icon
1890
Marcus Corp
MCS
$929M
$464K ﹤0.01%
29,894
-13,454
-31% -$200K
HCC icon
1891
Warrior Met Coal
HCC
$4.98B
$463K ﹤0.01%
5,255
+13
+0.2% +$977
QCRH icon
1892
QCR Holdings
QCRH
$1.75B
$462K ﹤0.01%
5,543
-703
-11% -$55.3K
STAA icon
1893
STAAR Surgical
STAA
$1.26B
$461K ﹤0.01%
+19,956
New +$514K
DGICA icon
1894
Donegal Group Class A
DGICA
$696M
$460K ﹤0.01%
23,021
+11,765
+105% +$231K
MCHB
1895
Mechanics Bancorp
MCHB
$3.79B
$456K ﹤0.01%
31,200
-9,287
-23% -$129K
NUTX
1896
Nutex Health
NUTX
$1.28B
$456K ﹤0.01%
2,769
-8,669
-76% -$1.15M
NTLA icon
1897
Intellia Therapeutics
NTLA
$1.66B
$456K ﹤0.01%
50,697
-3,896
-7% -$53.6K
VNO icon
1898
Vornado Realty Trust
VNO
$7.41B
$455K ﹤0.01%
13,686
-15,434
-53% -$564K
ENR icon
1899
Energizer
ENR
$1.55B
$454K ﹤0.01%
22,820
+3,277
+17% +$71.4K
CCBG icon
1900
Capital City Bank Group
CCBG
$898M
$451K ﹤0.01%
+10,599
New +$442K
74 75
76
77 78

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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.