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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
LOW icon
101
Lowe's Companies
LOW
$121B
$70.1M 0.16%
290,546
-15,484
-5% -$3.72M
PGR icon
102
Progressive
PGR
$121B
$69.7M 0.16%
305,930
-8,232
-3% -$1.86M
NEM icon
103
Newmont
NEM
$124B
$68.4M 0.15%
685,218
+47,431
+7% +$4.29M
PANW icon
104
Palo Alto Networks
PANW
$315B
$68.1M 0.15%
369,914
+19,557
+6% +$3.95M
KWEB icon
105
CALL
KraneShares CSI China Internet ETF
KWEB
$5.45B
$68.1M 0.15%
+2,000,000
New +$76.9M
BKLN icon
106
Invesco Senior Loan ETF
BKLN
$6.75B
$67M 0.15%
+3,190,000
New +$66.7M
SYK icon
107
Stryker
SYK
$133B
$65.2M 0.15%
185,388
-2,605
-1% -$949K
MUB icon
108
iShares National Muni Bond ETF
MUB
$45.9B
$65.1M 0.15%
607,800
– –
MDT icon
109
Medtronic
MDT
$116B
$64.7M 0.14%
673,986
-32,252
-5% -$3.13M
WELL icon
110
Welltower
WELL
$166B
$64.4M 0.14%
346,803
+3,335
+1% +$623K
ETN icon
111
Eaton
ETN
$179B
$64.2M 0.14%
201,716
-3,998
-2% -$1.42M
HON icon
112
Honeywell
HON
$74.6B
$64.2M 0.14%
328,972
-29,691
-8% -$5.81M
VRTX icon
113
Vertex Pharmaceuticals
VRTX
$133B
$62.5M 0.14%
137,909
-10,440
-7% -$4.5M
CB icon
114
Chubb
CB
$132B
$62.3M 0.14%
199,466
-7,156
-3% -$2.09M
CEG icon
115
Constellation Energy
CEG
$98.7B
$62.2M 0.14%
176,112
+6,565
+4% +$2.39M
DE icon
116
Deere & Co
DE
$167B
$61.9M 0.14%
132,993
-2,315
-2% -$1.09M
COP icon
117
ConocoPhillips
COP
$153B
$61.6M 0.14%
658,190
-62,182
-9% -$5.62M
PLD icon
118
Prologis
PLD
$134B
$61.4M 0.14%
481,015
-6,599
-1% -$823K
CRWD icon
119
CrowdStrike
CRWD
$226B
$61M 0.14%
520,524
-31,476
-6% -$4.01M
ASHR icon
120
CALL
Xtrackers Harvest CSI 300 China A-Shares ETF
ASHR
$1.6B
$60.5M 0.14%
+1,840,900
New +$60.4M
MCK icon
121
McKesson
MCK
$102B
$60.3M 0.13%
73,472
+2,774
+4% +$2.26M
TD icon
122
Toronto Dominion Bank
TD
$204B
$59.9M 0.13%
+634,563
New +$53.6M
BX icon
123
Blackstone
BX
$110B
$58.9M 0.13%
381,906
-46,282
-11% -$7.03M
PH icon
124
Parker-Hannifin
PH
$135B
$58.9M 0.13%
66,970
-1,713
-2% -$1.4M
UBS icon
125
UBS Group
UBS
$177B
$58.8M 0.13%
+1,260,085
New +$50.9M
3 4
5
6 7

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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.