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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
MOH icon
926
Molina Healthcare
MOH
$10.7B
$6.12M 0.01%
35,245
-10,451
-23% -$1.72M
EBC icon
927
Eastern Bankshares
EBC
$5.37B
$6.1M 0.01%
331,028
+5,510
+2% +$101K
NMRK icon
928
Newmark Group
NMRK
$2.77B
$6.1M 0.01%
351,717
+20,914
+6% +$366K
BAX icon
929
Baxter International
BAX
$14B
$6.09M 0.01%
318,581
-122,641
-28% -$2.45M
ESLT icon
930
Elbit Systems
ESLT
$36.5B
$6.08M 0.01%
+10,548
New +$5.29M
DOC icon
931
Healthpeak Properties
DOC
$14.3B
$6.06M 0.01%
376,605
-12,615
-3% -$222K
MKTX icon
932
MarketAxess Holdings
MKTX
$5.72B
$6.05M 0.01%
33,390
-1,333
-4% -$227K
EMA
933
Emera Inc
EMA
$15.8B
$6.04M 0.01%
+122,407
New +$5.91M
BWXT icon
934
BWX Technologies
BWXT
$15.6B
$6.04M 0.01%
34,938
-3,895
-10% -$731K
BXP icon
935
Boston Properties
BXP
$11B
$5.99M 0.01%
88,823
-379
-0.4% -$26.9K
OUT icon
936
Outfront Media
OUT
$5.24B
$5.97M 0.01%
247,899
+4,955
+2% +$103K
POWL icon
937
Powell Industries
POWL
$7.43B
$5.95M 0.01%
56,019
+3,684
+7% +$414K
UMH
938
UMH Properties
UMH
$1.42B
$5.95M 0.01%
373,910
+19,647
+6% +$295K
PAYO icon
939
Payoneer
PAYO
$2.42B
$5.91M 0.01%
1,052,170
+51,545
+5% +$298K
GFF icon
940
Griffon
GFF
$4.8B
$5.91M 0.01%
80,249
+9,952
+14% +$740K
CROX icon
941
Crocs
CROX
$6.36B
$5.91M 0.01%
69,056
-4,124
-6% -$345K
BOOT icon
942
Boot Barn
BOOT
$4.92B
$5.89M 0.01%
33,374
+89
+0.3% +$16.6K
JAZZ icon
943
Jazz Pharmaceuticals
JAZZ
$16B
$5.87M 0.01%
34,512
-2,528
-7% -$388K
CAG icon
944
Conagra Brands
CAG
$7.39B
$5.84M 0.01%
337,600
-155,390
-32% -$2.76M
HG icon
945
Hamilton Insurance Group
HG
$2.32B
$5.83M 0.01%
208,888
+9,878
+5% +$256K
GTES icon
946
Gates Industrial Corporation Ltd.
GTES
$7B
$5.82M 0.01%
271,140
-6,693
-2% -$154K
BTSG icon
947
BrightSpring Health Services
BTSG
$11.9B
$5.77M 0.01%
154,074
+73,224
+91% +$2.46M
RDNT icon
948
RadNet
RDNT
$6.08B
$5.76M 0.01%
80,778
+9,156
+13% +$707K
Z icon
949
Zillow
Z
$8.08B
$5.75M 0.01%
84,246
-2,328
-3% -$169K
BAH icon
950
Booz Allen Hamilton
BAH
$9.43B
$5.75M 0.01%
68,127
-6,940
-9% -$621K
36 37
38
39 40

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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.