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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
OSK icon
901
Oshkosh
OSK
$9.41B
$6.39M 0.01%
50,894
-2,220
-4% -$286K
PAGP icon
902
Plains GP Holdings
PAGP
$5.04B
$6.38M 0.01%
333,574
+7,086
+2% +$128K
SOLV icon
903
Solventum
SOLV
$14.7B
$6.38M 0.01%
80,533
-558
-0.7% -$42.7K
ACM icon
904
Aecom
ACM
$8.19B
$6.36M 0.01%
66,701
-3,102
-4% -$365K
SWX icon
905
Southwest Gas
SWX
$6.67B
$6.36M 0.01%
79,459
-8,439
-10% -$676K
CLX icon
906
Clorox
CLX
$12.9B
$6.36M 0.01%
63,036
-1,386
-2% -$150K
OLLI icon
907
Ollie's Bargain Outlet
OLLI
$4.7B
$6.35M 0.01%
57,888
+817
+1% +$98.5K
PAA icon
908
Plains All American Pipeline
PAA
$16.5B
$6.33M 0.01%
352,369
+174,993
+99% +$2.97M
DAL icon
909
Delta Air Lines
DAL
$60B
$6.33M 0.01%
91,180
+5,767
+7% +$360K
TBBK icon
910
The Bancorp
TBBK
$2.82B
$6.32M 0.01%
93,653
-43,183
-32% -$2.98M
PATK icon
911
Patrick Industries
PATK
$2.78B
$6.32M 0.01%
58,278
+2,122
+4% +$223K
OII icon
912
Oceaneering
OII
$5.11B
$6.28M 0.01%
261,453
+19,024
+8% +$460K
W icon
913
Wayfair
W
$13.9B
$6.27M 0.01%
62,408
+18,735
+43% +$1.8M
GPOR icon
914
Gulfport Energy Corp
GPOR
$3.01B
$6.23M 0.01%
29,953
+1,330
+5% +$265K
SJM icon
915
J.M. Smucker
SJM
$12.9B
$6.22M 0.01%
63,612
-454
-0.7% -$46.9K
NBIS
916
Nebius Group N.V.
NBIS
$69.3B
$6.22M 0.01%
+74,300
New +$7.7M
FN icon
917
Fabrinet
FN
$20.3B
$6.21M 0.01%
13,636
+6,307
+86% +$2.74M
HL icon
918
Hecla Mining
HL
$11.9B
$6.21M 0.01%
323,506
+55,262
+21% +$844K
CRWV
919
CoreWeave
CRWV
$58.6B
$6.21M 0.01%
+86,681
New +$8.79M
WHD icon
920
Cactus
WHD
$5.78B
$6.2M 0.01%
135,820
+3,995
+3% +$167K
MOS icon
921
The Mosaic Company
MOS
$6.92B
$6.2M 0.01%
257,404
-114,288
-31% -$3.08M
OBK icon
922
Origin Bancorp
OBK
$1.69B
$6.16M 0.01%
163,882
+8,322
+5% +$298K
GFL icon
923
GFL Environmental
GFL
$15B
$6.16M 0.01%
+143,146
New +$6.39M
LYB icon
924
LyondellBasell Industries
LYB
$20.2B
$6.15M 0.01%
142,146
+7,848
+6% +$355K
MRX
925
Marex Group Limited Ordinary Shares
MRX
$5.2B
$6.12M 0.01%
159,527
+11,669
+8% +$397K
35 36
37
38 39

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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.