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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
BAB icon
201
Invesco Taxable Municipal Bond ETF
BAB
$1.01B
$35.9M 0.08%
1,318,800
– –
EA
202
DELISTED
Electronic Arts
EA
$35.6M 0.08%
174,250
+27,950
+19% +$5.64M
SNOW icon
203
Snowflake
SNOW
$116B
$35.6M 0.08%
162,207
-4,653
-3% -$1.14M
STX icon
204
Seagate
STX
$207B
$35.4M 0.08%
128,654
-4,590
-3% -$1.19M
COR icon
205
Cencora
COR
$59.8B
$35.4M 0.08%
104,892
+3,763
+4% +$1.28M
CTAS icon
206
Cintas
CTAS
$80.5B
$35.4M 0.08%
188,121
-3,085
-2% -$581K
TRV icon
207
Travelers Companies
TRV
$77.3B
$35.4M 0.08%
121,886
-11,945
-9% -$3.36M
BNS icon
208
Scotiabank
BNS
$111B
$35.3M 0.08%
+477,772
New +$32.5M
HLT icon
209
Hilton Worldwide
HLT
$72.4B
$35M 0.08%
121,793
-11,909
-9% -$3.24M
IDXX icon
210
Idexx Laboratories
IDXX
$44.2B
$35M 0.08%
51,701
+14
+0% +$9.53K
AJG icon
211
Arthur J. Gallagher & Co
AJG
$64.3B
$34.9M 0.08%
134,709
-1,468
-1% -$389K
ECL icon
212
Ecolab
ECL
$77.3B
$34.7M 0.08%
132,269
-2,059
-2% -$548K
PCAR icon
213
PACCAR
PCAR
$68.7B
$34M 0.08%
310,167
+8,469
+3% +$868K
CL icon
214
Colgate-Palmolive
CL
$73.8B
$33.9M 0.08%
429,393
-1,319
-0.3% -$103K
CUK
215
DELISTED
Carnival PLC
CUK
$33.9M 0.08%
1,117,590
+139,692
+14% +$3.6M
BMO icon
216
Bank of Montreal
BMO
$129B
$33.8M 0.08%
+259,753
New +$32.9M
NSC icon
217
Norfolk Southern
NSC
$76.3B
$33.6M 0.08%
116,278
-2,285
-2% -$661K
FDX icon
218
FedEx
FDX
$79.1B
$33.5M 0.07%
116,042
-4,733
-4% -$1.24M
MSI icon
219
Motorola Solutions
MSI
$76.9B
$33.4M 0.07%
87,119
-17,195
-16% -$6.91M
AEM icon
220
Agnico Eagle Mines
AEM
$90.5B
$33.3M 0.07%
+196,119
New +$33M
BN icon
221
Brookfield
BN
$109B
$33.2M 0.07%
+723,099
New +$33M
PSX icon
222
Phillips 66
PSX
$92B
$33M 0.07%
256,111
+7,410
+3% +$997K
APO icon
223
Apollo Global Management
APO
$83.2B
$33M 0.07%
227,865
-1,392
-0.6% -$185K
SPOT icon
224
Spotify
SPOT
$102B
$32.7M 0.07%
56,302
-885
-2% -$553K
AEP icon
225
American Electric Power
AEP
$68.2B
$32.4M 0.07%
281,031
-7,795
-3% -$921K
7 8
9
10 11

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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.