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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
CPRI icon
1026
Capri Holdings
CPRI
$1.77B
$4.68M 0.01%
191,980
-8,144
-4% -$188K
APA icon
1027
APA Corp
APA
$14B
$4.66M 0.01%
190,439
-69,372
-27% -$1.68M
GRAB icon
1028
Grab
GRAB
$15.1B
$4.64M 0.01%
930,400
-42,200
-4% -$233K
EEFT icon
1029
Euronet Worldwide
EEFT
$2.78B
$4.63M 0.01%
60,896
+830
+1% +$64.7K
GME icon
1030
GameStop
GME
$8.33B
$4.61M 0.01%
229,492
-20,411
-8% -$458K
ELF icon
1031
e.l.f. Beauty
ELF
$5.43B
$4.6M 0.01%
60,538
-7,460
-11% -$734K
ECPG icon
1032
Encore Capital Group
ECPG
$2.15B
$4.6M 0.01%
84,579
+4,095
+5% +$197K
RAL
1033
Ralliant Corp
RAL
$7.9B
$4.59M 0.01%
90,146
+32,012
+55% +$1.5M
PHIN icon
1034
Phinia Inc
PHIN
$2.7B
$4.58M 0.01%
73,095
+24,290
+50% +$1.34M
KNTK icon
1035
Kinetik
KNTK
$4.16B
$4.56M 0.01%
126,479
+5,413
+4% +$196K
BMI icon
1036
Badger Meter
BMI
$3.78B
$4.56M 0.01%
26,124
-423
-2% -$76.2K
PHR icon
1037
Phreesia
PHR
$780M
$4.56M 0.01%
269,268
-106,603
-28% -$2.2M
QXO
1038
QXO Inc
QXO
$16.1B
$4.55M 0.01%
235,649
+2,997
+1% +$57.4K
SNAP icon
1039
Snap
SNAP
$8.96B
$4.54M 0.01%
562,536
-4,285
-0.8% -$33.9K
PRAX icon
1040
Praxis Precision Medicines
PRAX
$10.3B
$4.49M 0.01%
15,231
+6,198
+69% +$1.15M
AIP icon
1041
Arteris
AIP
$1.36B
$4.47M 0.01%
288,545
+20,848
+8% +$302K
APLD icon
1042
Applied Digital
APLD
$8.81B
$4.47M 0.01%
182,267
+107,785
+145% +$3.1M
COLD icon
1043
Americold
COLD
$4.32B
$4.47M 0.01%
347,278
-42,199
-11% -$517K
DTM icon
1044
DT Midstream
DTM
$13.8B
$4.46M 0.01%
37,249
-6,703
-15% -$770K
ALV icon
1045
Autoliv
ALV
$8.89B
$4.45M 0.01%
37,466
-6,352
-14% -$758K
DUOL icon
1046
Duolingo
DUOL
$6.74B
$4.43M 0.01%
25,252
+4,375
+21% +$1.03M
GKOS icon
1047
Glaukos
GKOS
$11.2B
$4.42M 0.01%
39,141
-1,021
-3% -$97.5K
SMG icon
1048
ScottsMiracle-Gro
SMG
$3.59B
$4.39M 0.01%
75,170
-4,928
-6% -$276K
COMP icon
1049
Compass
COMP
$10.2B
$4.39M 0.01%
414,893
-44,556
-10% -$407K
RIOT icon
1050
Riot Platforms
RIOT
$7.21B
$4.37M 0.01%
344,911
+87,682
+34% +$1.5M
40 41
42
43 44

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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.