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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
NI icon
501
NiSource
NI
$20.2B
$14.2M 0.03%
339,979
+10,461
+3% +$447K
DD icon
502
DuPont de Nemours
DD
$19.4B
$14.2M 0.03%
117,579
-57,763
-33% -$6.5M
EQR icon
503
Equity Residential
EQR
$24.8B
$14.2M 0.03%
224,795
-1,800
-0.8% -$110K
EL icon
504
Estee Lauder
EL
$31.7B
$14.2M 0.03%
135,234
+11,679
+9% +$1.13M
NVT icon
505
nVent Electric
NVT
$27.4B
$14.1M 0.03%
138,063
+1,375
+1% +$143K
PLNT icon
506
Planet Fitness
PLNT
$3.7B
$14.1M 0.03%
129,619
+5,098
+4% +$525K
J icon
507
Jacobs Solutions
J
$16.9B
$14.1M 0.03%
106,100
-3,679
-3% -$540K
LVS icon
508
Las Vegas Sands
LVS
$29.6B
$14M 0.03%
215,460
+18,760
+10% +$1.15M
ALC icon
509
Alcon
ALC
$35.4B
$14M 0.03%
+175,429
New +$13.5M
TEAM icon
510
Atlassian
TEAM
$42B
$14M 0.03%
86,389
-8,032
-9% -$1.26M
MOG.A icon
511
Moog Inc Class A
MOG.A
$13.5B
$14M 0.03%
57,441
+1,402
+3% +$308K
AVY icon
512
Avery Dennison
AVY
$13.7B
$14M 0.03%
76,772
-14,771
-16% -$2.55M
ATO icon
513
Atmos Energy
ATO
$28.7B
$13.9M 0.03%
83,136
-1,123
-1% -$194K
FSLR icon
514
First Solar
FSLR
$24.1B
$13.8M 0.03%
52,846
-726
-1% -$183K
TECH icon
515
Bio-Techne
TECH
$11.3B
$13.8M 0.03%
234,566
-5
-0% -$304
VLTO icon
516
Veralto
VLTO
$23.8B
$13.8M 0.03%
138,197
-15,340
-10% -$1.55M
LBTYK icon
517
Liberty Global Class C
LBTYK
$3.48B
$13.7M 0.03%
1,245,174
+907,906
+269% +$10.1M
TEVA icon
518
Teva Pharmaceuticals
TEVA
$42.7B
$13.7M 0.03%
439,922
-101,000
-19% -$2.49M
PTC icon
519
PTC
PTC
$16.7B
$13.7M 0.03%
78,786
-1,147
-1% -$213K
LLYVA icon
520
Liberty Live Group Series A
LLYVA
$9.57B
$13.7M 0.03%
167,512
+157,095
+1,508% +$13.1M
WST icon
521
West Pharmaceutical
WST
$24.4B
$13.7M 0.03%
49,616
+11,718
+31% +$3.21M
SSNC icon
522
SS&C Technologies
SSNC
$19.3B
$13.6M 0.03%
155,869
+2,693
+2% +$230K
XPO icon
523
XPO
XPO
$25.1B
$13.6M 0.03%
100,102
+9,732
+11% +$1.33M
AMRZ
524
Amrize Ltd
AMRZ
$25.7B
$13.6M 0.03%
+250,745
New +$12.8M
HUBB icon
525
Hubbell
HUBB
$26.9B
$13.6M 0.03%
30,531
-1,070
-3% -$469K
19 20
21
22 23

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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.