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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
TJX icon
76
TJX Companies
TJX
$169B
$90M 0.2%
585,891
-23,090
-4% -$3.41M
BKNG icon
77
Booking.com
BKNG
$159B
$89.9M 0.2%
419,725
-8,025
-2% -$1.65M
VZ icon
78
Verizon
VZ
$195B
$89M 0.2%
2,184,722
-79,875
-4% -$3.24M
KLAC icon
79
KLA
KLAC
$272B
$88.4M 0.2%
727,460
+13,160
+2% +$1.54M
ACN icon
80
Accenture
ACN
$110B
$88.4M 0.2%
329,399
-6,779
-2% -$1.72M
RY icon
81
Royal Bank of Canada
RY
$297B
$87.7M 0.2%
+513,881
New +$78.9M
BA icon
82
Boeing
BA
$183B
$87.7M 0.2%
403,742
-10
-0% -$2.06K
SPGI icon
83
S&P Global
SPGI
$121B
$86.8M 0.19%
166,066
-19,646
-11% -$9.72M
NEE icon
84
NextEra Energy
NEE
$179B
$86.7M 0.19%
1,080,395
-26,978
-2% -$2.23M
APP icon
85
Applovin
APP
$102B
$85.9M 0.19%
127,513
-2,934
-2% -$1.85M
APH icon
86
Amphenol
APH
$210B
$85.5M 0.19%
632,749
-20,764
-3% -$2.78M
UBER icon
87
Uber
UBER
$154B
$84.8M 0.19%
1,038,122
-66,724
-6% -$6.01M
TXN icon
88
Texas Instruments
TXN
$253B
$83M 0.19%
478,155
-6,871
-1% -$1.18M
NOW icon
89
ServiceNow
NOW
$129B
$82.5M 0.18%
538,803
-33,067
-6% -$5.67M
BLK icon
90
Blackrock
BLK
$180B
$81.7M 0.18%
76,321
-2,259
-3% -$2.47M
GILD icon
91
Gilead Sciences
GILD
$168B
$81.1M 0.18%
661,095
-24,380
-4% -$2.96M
COF icon
92
Capital One
COF
$136B
$81M 0.18%
334,180
-38,339
-10% -$8.53M
DHR icon
93
Danaher
DHR
$145B
$77M 0.17%
336,576
-5,599
-2% -$1.23M
ADBE icon
94
Adobe
ADBE
$103B
$75.9M 0.17%
216,885
-10,515
-5% -$3.58M
PFE icon
95
Pfizer
PFE
$150B
$74.1M 0.17%
2,974,689
-56,186
-2% -$1.42M
BSX icon
96
Boston Scientific
BSX
$74.5B
$73.2M 0.16%
767,854
-73,676
-9% -$7.22M
ANET icon
97
Arista Networks
ANET
$265B
$72.5M 0.16%
553,065
-38,254
-6% -$5.27M
UNP icon
98
Union Pacific
UNP
$174B
$71.1M 0.16%
307,348
-6,736
-2% -$1.54M
SHOP icon
99
Shopify
SHOP
$194B
$70.9M 0.16%
+439,830
New +$70.6M
ADI icon
100
Analog Devices
ADI
$187B
$70.5M 0.16%
259,889
-4,647
-2% -$1.17M
2 3
4
5 6

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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.