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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
ZTS icon
251
Zoetis
ZTS
$30.4B
$28.9M 0.06%
229,505
-36,530
-14% -$4.76M
HBAN icon
252
Huntington Bancshares
HBAN
$36.1B
$28.8M 0.06%
1,662,307
+416,217
+33% +$6.83M
FTNT icon
253
Fortinet
FTNT
$118B
$28.8M 0.06%
362,219
-13,203
-4% -$1.1M
CVNA icon
254
Carvana
CVNA
$79.7B
$28.7M 0.06%
340,555
+21,200
+7% +$1.58M
KMI icon
255
Kinder Morgan
KMI
$70.7B
$28.6M 0.06%
1,040,995
-72,563
-7% -$1.96M
EW icon
256
Edwards Lifesciences
EW
$53.6B
$28.5M 0.06%
334,459
-10,397
-3% -$853K
FAST icon
257
Fastenal
FAST
$59.9B
$28.5M 0.06%
710,506
+71,280
+11% +$3M
APD icon
258
Air Products & Chemicals
APD
$67.7B
$28.5M 0.06%
115,284
-1,797
-2% -$456K
CAH icon
259
Cardinal Health
CAH
$54.5B
$28.5M 0.06%
138,452
-16,581
-11% -$3.12M
EXE
260
Expand Energy Corp
EXE
$22.3B
$28.4M 0.06%
257,311
+29,386
+13% +$3.26M
O icon
261
Realty Income
O
$59.2B
$28M 0.06%
497,128
+31
+0% +$1.79K
TRGP icon
262
Targa Resources
TRGP
$57.6B
$27.9M 0.06%
151,020
-18,715
-11% -$3.15M
IEMG icon
263
iShares Core MSCI Emerging Markets ETF
IEMG
$158B
$27.6M 0.06%
410,800
+7,800
+2% +$523K
PYPL icon
264
PayPal
PYPL
$50.6B
$27.5M 0.06%
470,507
-15,407
-3% -$1M
CMG icon
265
Chipotle Mexican Grill
CMG
$41.3B
$27.4M 0.06%
741,291
-17,677
-2% -$639K
CW icon
266
Curtiss-Wright
CW
$26.7B
$27.4M 0.06%
49,730
+876
+2% +$489K
DLR icon
267
Digital Realty Trust
DLR
$72.9B
$27.3M 0.06%
176,374
-691
-0.4% -$113K
D icon
268
Dominion Energy
D
$59.8B
$26.7M 0.06%
455,939
-6,288
-1% -$379K
MPWR icon
269
Monolithic Power Systems
MPWR
$70B
$26.6M 0.06%
29,357
+1,215
+4% +$1.17M
B
270
Barrick Mining
B
$67.9B
$26.6M 0.06%
+609,135
New +$22.9M
ALNY icon
271
Alnylam Pharmaceuticals
ALNY
$30B
$26.3M 0.06%
66,065
-2,464
-4% -$1.09M
VMC icon
272
Vulcan Materials
VMC
$36.3B
$26.3M 0.06%
92,072
+36
+0% +$10.6K
ATI icon
273
ATI
ATI
$31.4B
$26.3M 0.06%
228,775
-33,636
-13% -$3.28M
WDAY icon
274
Workday
WDAY
$43.3B
$26.2M 0.06%
122,100
+7,463
+7% +$1.7M
FTI icon
275
TechnipFMC
FTI
$29.5B
$26.1M 0.06%
585,733
+7,368
+1% +$311K
9 10
11
12 13

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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.