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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
CAI
1076
Caris Life Sciences
CAI
$6.27B
$4.05M 0.01%
150,000
– –
CRUS icon
1077
Cirrus Logic
CRUS
$6.11B
$4.03M 0.01%
34,048
-2,453
-7% -$302K
WULF icon
1078
TeraWulf
WULF
$8.14B
$4.03M 0.01%
350,760
-1,322
-0.4% -$17.7K
ACAD icon
1079
Acadia Pharmaceuticals
ACAD
$5.07B
$4.02M 0.01%
150,386
-38,811
-21% -$927K
COKE icon
1080
Coca-Cola Consolidated
COKE
$12.6B
$4.01M 0.01%
26,149
-2,853
-10% -$419K
INDB icon
1081
Independent Bank
INDB
$4.05B
$4.01M 0.01%
54,805
-562
-1% -$39.9K
SFM icon
1082
Sprouts Farmers Market
SFM
$8.03B
$4M 0.01%
50,168
-8,821
-15% -$791K
UNM icon
1083
Unum
UNM
$14.5B
$3.98M 0.01%
51,323
-11,573
-18% -$885K
CPS icon
1084
Cooper-Standard Automotive
CPS
$490M
$3.98M 0.01%
121,132
+56,011
+86% +$1.82M
FLYW icon
1085
Flywire
FLYW
$2.12B
$3.97M 0.01%
280,408
+15,069
+6% +$206K
HIMS icon
1086
Hims & Hers Health
HIMS
$6.71B
$3.96M 0.01%
121,818
-18,598
-13% -$797K
TPC
1087
Tutor Perini Cor
TPC
$5.05B
$3.95M 0.01%
58,904
+13,672
+30% +$897K
NE icon
1088
Noble Corp
NE
$7.04B
$3.94M 0.01%
139,460
-994
-0.7% -$29.4K
ERIE icon
1089
Erie Indemnity
ERIE
$13.5B
$3.93M 0.01%
13,711
-4,442
-24% -$1.33M
MAT icon
1090
Mattel
MAT
$4.19B
$3.92M 0.01%
197,825
+31,552
+19% +$609K
KD icon
1091
Kyndryl
KD
$2.85B
$3.91M 0.01%
147,262
+24,966
+20% +$677K
RGTI icon
1092
Rigetti Computing
RGTI
$6.21B
$3.91M 0.01%
176,551
-24,738
-12% -$807K
TFII icon
1093
TFI International
TFII
$12B
$3.9M 0.01%
+37,700
New +$3.51M
MGM icon
1094
MGM Resorts International
MGM
$11.1B
$3.89M 0.01%
106,735
-62,404
-37% -$2.12M
TMDX icon
1095
Transmedics
TMDX
$3.02B
$3.89M 0.01%
31,950
+28,880
+941% +$3.62M
BELFB
1096
Bel Fuse Inc Class B
BELFB
$4.25B
$3.88M 0.01%
22,886
+15,413
+206% +$2.41M
ESE icon
1097
ESCO Technologies
ESE
$7.78B
$3.88M 0.01%
19,850
-123
-0.6% -$25.9K
DOCN icon
1098
DigitalOcean
DOCN
$15.7B
$3.88M 0.01%
80,578
-283
-0.3% -$12.5K
RYTM icon
1099
Rhythm Pharmaceuticals
RYTM
$8.1B
$3.86M 0.01%
36,079
-4,697
-12% -$498K
IPAR icon
1100
Interparfums
IPAR
$3.78B
$3.84M 0.01%
45,270
-843
-2% -$74.2K
42 43
44
45 46

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LP
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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.