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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
AUPH icon
1151
Aurinia Pharmaceuticals
AUPH
$2.06B
$3.26M 0.01%
204,624
-78,477
-28% -$1.11M
DAN icon
1152
Dana Inc
DAN
$3.2B
$3.26M 0.01%
137,201
-13,303
-9% -$281K
HAYW icon
1153
Hayward Holdings
HAYW
$3.25B
$3.22M 0.01%
208,488
-30,197
-13% -$477K
SUPN icon
1154
Supernus Pharmaceuticals
SUPN
$2.78B
$3.21M 0.01%
64,637
+29,799
+86% +$1.45M
LASR icon
1155
nLIGHT
LASR
$3.06B
$3.19M 0.01%
84,919
+24,860
+41% +$830K
NEO icon
1156
NeoGenomics
NEO
$2.11B
$3.18M 0.01%
270,541
-142,136
-34% -$1.53M
BSY icon
1157
Bentley Systems
BSY
$10.8B
$3.18M 0.01%
83,302
– –
LIF
1158
Life360
LIF
$4B
$3.18M 0.01%
49,520
-2,726
-5% -$226K
PSN icon
1159
Parsons
PSN
$5.16B
$3.17M 0.01%
51,279
+3,023
+6% +$237K
LRN icon
1160
Stride
LRN
$3.27B
$3.16M 0.01%
48,700
+18,133
+59% +$1.65M
PCVX icon
1161
Vaxcyte
PCVX
$8.76B
$3.15M 0.01%
68,285
-8,301
-11% -$371K
HROW icon
1162
Harrow
HROW
$1.48B
$3.15M 0.01%
64,274
+42,627
+197% +$1.79M
ENPH icon
1163
Enphase Energy
ENPH
$5.39B
$3.12M 0.01%
97,436
+41,379
+74% +$1.34M
ATRO icon
1164
Astronics
ATRO
$4.34B
$3.12M 0.01%
68,933
+4,708
+7% +$197K
ZION icon
1165
Zions Bancorporation
ZION
$10.5B
$3.09M 0.01%
52,852
-8,805
-14% -$480K
MHK icon
1166
Mohawk Industries
MHK
$9.27B
$3.08M 0.01%
28,165
-47,194
-63% -$5.42M
PRMB
1167
Primo Brands
PRMB
$8.65B
$3.07M 0.01%
187,957
-31,384
-14% -$580K
OGS icon
1168
ONE Gas
OGS
$5.05B
$3.06M 0.01%
39,554
-828
-2% -$66.6K
GT icon
1169
Goodyear
GT
$1.74B
$3.05M 0.01%
348,407
-134,921
-28% -$1.06M
PTGX icon
1170
Protagonist Therapeutics
PTGX
$9.8B
$3.04M 0.01%
34,786
-6,120
-15% -$501K
AMTM
1171
Amentum Holdings
AMTM
$5.51B
$3.01M 0.01%
103,682
+12,284
+13% +$314K
CIFR icon
1172
Cipher Digital
CIFR
$6.9B
$3.01M 0.01%
203,606
+110,904
+120% +$1.96M
GAP
1173
The Gap Inc
GAP
$7.29B
$2.97M 0.01%
115,843
-33,774
-23% -$818K
CHWY icon
1174
Chewy
CHWY
$9.15B
$2.96M 0.01%
89,675
-11,444
-11% -$397K
VYX icon
1175
NCR Voyix
VYX
$1.12B
$2.96M 0.01%
290,524
-108,680
-27% -$1.18M
45 46
47
48 49

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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.