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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 | |
|---|---|---|---|---|---|---|
2076
Candel Therapeutics
CADL
$865M
| $295K | ﹤0.01% |
52,147
-1,900
| -4% | -$10.2K |
|
2077
Enanta Pharmaceuticals
ENTA
$391M
| $293K | ﹤0.01% |
+18,608
| New | +$236K |
|
|
CTO
2078
CTO Realty Growth
CTO
$823M
| $293K | ﹤0.01% |
+15,936
| New | +$273K |
|
2079
Artivion
AORT
$1.39B
| $292K | ﹤0.01% |
6,401
-2,561
| -29% | -$114K |
|
2080
UFP Industries
UFPI
$5.03B
| $289K | ﹤0.01% |
3,177
-2,712
| -46% | -$248K |
|
2081
Malibu Boats
MBUU
$573M
| $287K | ﹤0.01% |
10,185
-699
| -6% | -$20.3K |
|
2082
Foghorn Therapeutics
FHTX
$385M
| $287K | ﹤0.01% |
53,144
-18,500
| -26% | -$83.9K |
|
2083
White Mountains Insurance
WTM
$5.11B
| $287K | ﹤0.01% |
138
-111
| -45% | -$217K |
|
2084
Bank of N.T. Butterfield & Son
NTB
$2.51B
| $286K | ﹤0.01% |
+5,733
| New | +$264K |
|
2085
Neogen
NEOG
$2.59B
| $285K | ﹤0.01% |
40,764
-4,323
| -10% | -$27.2K |
|
2086
Capital Bancorp
CBNK
$616M
| $283K | ﹤0.01% |
+10,051
| New | +$288K |
|
2087
Ranpak Holdings
PACK
$479M
| $283K | ﹤0.01% |
52,260
+3,800
| +8% | +$20K |
|
|
PPTA
2088
Perpetua Resources
PPTA
$3.1B
| $282K | ﹤0.01% |
+11,644
| New | +$286K |
|
2089
SGHC Ltd
SGHC
$6.65B
| $279K | ﹤0.01% |
23,375
+4,716
| +25% | +$56.7K |
|
2090
FTAI Infrastructure
FIP
$551M
| $279K | ﹤0.01% |
60,415
-8,908
| -13% | -$43.9K |
|
2091
Theravance Biopharma
TBPH
$878M
| $278K | ﹤0.01% |
+14,860
| New | +$246K |
|
2092
Moelis & Co
MC
$5.21B
| $277K | ﹤0.01% |
4,035
-3,079
| -43% | -$205K |
|
2093
Neuropace
NPCE
$498M
| $276K | ﹤0.01% |
+17,848
| New | +$239K |
|
2094
Meridian
MRBK
$240M
| $274K | ﹤0.01% |
+15,600
| New | +$244K |
|
2095
NETGEAR
NTGR
$647M
| $273K | ﹤0.01% |
11,145
-30,983
| -74% | -$891K |
|
2096
SiriusPoint
SPNT
$2.7B
| $273K | ﹤0.01% |
12,467
-8,813
| -41% | -$177K |
|
2097
WisdomTree
WT
$3.44B
| $272K | ﹤0.01% |
22,349
-62,683
| -74% | -$757K |
|
|
BCPC
2098
Balchem Corp
BCPC
$5.65B
| $270K | ﹤0.01% |
1,763
-1,335
| -43% | -$204K |
|
2099
Amkor Technology
AMKR
$14.3B
| $270K | ﹤0.01% |
6,836
-98,572
| -94% | -$3.51M |
|
|
CRESY
2100
Cresud
CRESY
$752M
| $270K | ﹤0.01% |
+21,366
| New | +$236K |
|
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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.