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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
CYTK icon
1051
Cytokinetics
CYTK
$10.2B
$4.36M 0.01%
68,633
-6,292
-8% -$391K
CNM icon
1052
Core & Main
CNM
$8.64B
$4.35M 0.01%
83,727
-4,025
-5% -$206K
CDE icon
1053
Coeur Mining
CDE
$19B
$4.33M 0.01%
243,041
+177,698
+272% +$3.09M
PAYC icon
1054
Paycom
PAYC
$10.1B
$4.32M 0.01%
27,126
-3,650
-12% -$647K
ATMU icon
1055
Atmus Filtration Technologies
ATMU
$4.06B
$4.32M 0.01%
83,235
-11,469
-12% -$555K
ARE icon
1056
Alexandria Real Estate Equities
ARE
$8.33B
$4.29M 0.01%
87,619
+6,053
+7% +$356K
KBR icon
1057
KBR
KBR
$4.81B
$4.25M 0.01%
105,666
-63,394
-37% -$2.72M
OCFC icon
1058
OceanFirst Financial
OCFC
$1.88B
$4.21M 0.01%
234,650
+11,359
+5% +$212K
CNH
1059
CNH Industrial
CNH
$16.7B
$4.21M 0.01%
456,687
-69,978
-13% -$699K
TDS icon
1060
Telephone and Data Systems
TDS
$4.03B
$4.21M 0.01%
102,673
+52,527
+105% +$2.05M
FUTU icon
1061
Futu Holdings
FUTU
$14.7B
$4.2M 0.01%
25,580
-14,500
-36% -$2.49M
EWZ icon
1062
iShares MSCI Brazil ETF
EWZ
$8.55B
$4.2M 0.01%
132,200
-485,200
-79% -$15.3M
ALSN icon
1063
Allison Transmission
ALSN
$10.2B
$4.2M 0.01%
42,898
-4,347
-9% -$381K
HAE icon
1064
Haemonetics
HAE
$4.11B
$4.18M 0.01%
52,213
-17,891
-26% -$1.2M
OKLO
1065
Oklo
OKLO
$8.64B
$4.15M 0.01%
57,800
-8,755
-13% -$976K
PCRX icon
1066
Pacira BioSciences
PCRX
$924M
$4.15M 0.01%
160,164
+5,577
+4% +$133K
NFG icon
1067
National Fuel Gas
NFG
$7.75B
$4.14M 0.01%
51,685
-3,404
-6% -$280K
BIO icon
1068
Bio-Rad Laboratories Class A
BIO
$9.66B
$4.14M 0.01%
13,648
-2,224
-14% -$694K
IDA icon
1069
Idacorp
IDA
$8.16B
$4.11M 0.01%
32,496
-2,062
-6% -$268K
TFX icon
1070
Teleflex
TFX
$5.82B
$4.11M 0.01%
33,638
-10,754
-24% -$1.3M
MRCY icon
1071
Mercury Systems
MRCY
$6.59B
$4.1M 0.01%
56,188
-8,374
-13% -$623K
HXL icon
1072
Hexcel
HXL
$7.74B
$4.1M 0.01%
55,510
-2,053
-4% -$145K
FORM icon
1073
FormFactor
FORM
$10.3B
$4.09M 0.01%
73,385
-9,631
-12% -$485K
BOW
1074
Bowhead Specialty Holdings
BOW
$1.1B
$4.09M 0.01%
143,198
+10,468
+8% +$278K
ACLS icon
1075
Axcelis
ACLS
$4.42B
$4.06M 0.01%
50,506
+292
+0.6% +$24.4K
41 42
43
44 45

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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.