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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
EME icon
476
Emcor
EME
$36.6B
$14.7M 0.03%
24,103
-20,629
-46% -$13.4M
FANG icon
477
Diamondback Energy
FANG
$55.7B
$14.6M 0.03%
97,423
-2,561
-3% -$378K
MKL icon
478
Markel Group
MKL
$22.7B
$14.6M 0.03%
6,813
-359
-5% -$727K
AEE icon
479
Ameren
AEE
$30.3B
$14.6M 0.03%
146,312
-3,185
-2% -$327K
IWM icon
480
iShares Russell 2000 ETF
IWM
$82.5B
$14.6M 0.03%
59,300
+22,040
+59% +$5.42M
BR icon
481
Broadridge
BR
$19.6B
$14.6M 0.03%
65,305
-7,144
-10% -$1.63M
ADC icon
482
Agree Realty
ADC
$9.32B
$14.6M 0.03%
202,315
+3,517
+2% +$257K
EGP icon
483
EastGroup Properties
EGP
$11B
$14.6M 0.03%
81,700
+1,522
+2% +$271K
DEM icon
484
WisdomTree Emerging Markets High Dividend Fund
DEM
$3.98B
$14.5M 0.03%
311,419
– –
AVB icon
485
AvalonBay Communities
AVB
$26.4B
$14.5M 0.03%
80,166
-1,546
-2% -$281K
CINF icon
486
Cincinnati Financial
CINF
$26.5B
$14.5M 0.03%
88,967
-17,688
-17% -$2.86M
CNP icon
487
CenterPoint Energy
CNP
$26.7B
$14.5M 0.03%
378,923
-7,128
-2% -$278K
RBRK icon
488
Rubrik
RBRK
$21.5B
$14.4M 0.03%
188,820
+18,356
+11% +$1.41M
DXCM icon
489
DexCom
DXCM
$34.4B
$14.4M 0.03%
216,897
-252
-0.1% -$16.3K
ROAD icon
490
Construction Partners
ROAD
$6.74B
$14.4M 0.03%
132,561
-7,974
-6% -$898K
IRM icon
491
Iron Mountain
IRM
$37.6B
$14.4M 0.03%
173,137
-1,709
-1% -$160K
PEN icon
492
Penumbra
PEN
$12.9B
$14.4M 0.03%
46,190
+208
+0.5% +$57.4K
NVR icon
493
NVR
NVR
$17B
$14.3M 0.03%
1,965
+92
+5% +$688K
JBL icon
494
Jabil
JBL
$38.7B
$14.3M 0.03%
62,836
-33,410
-35% -$7.13M
EXR icon
495
Extra Space Storage
EXR
$31.5B
$14.3M 0.03%
109,773
-2,568
-2% -$350K
UDR icon
496
UDR
UDR
$12.2B
$14.3M 0.03%
389,140
-14,773
-4% -$525K
EFX icon
497
Equifax
EFX
$21.9B
$14.2M 0.03%
65,575
-1,284
-2% -$281K
NXT icon
498
Nextpower Inc
NXT
$15.9B
$14.2M 0.03%
163,173
+3,376
+2% +$306K
RBC icon
499
RBC Bearings
RBC
$17.5B
$14.2M 0.03%
31,695
-960
-3% -$407K
APTV icon
500
Aptiv
APTV
$10.1B
$14.2M 0.03%
186,769
+27,242
+17% +$2.19M
18 19
20
21 22

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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.