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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
BLFS icon
1251
BioLife Solutions
BLFS
$1.72B
$2.37M 0.01%
98,213
-2,675
-3% -$70K
EWM icon
1252
iShares MSCI Malaysia ETF
EWM
$332M
$2.36M 0.01%
+86,400
New +$2.28M
RSI icon
1253
Rush Street Interactive
RSI
$2.85B
$2.36M 0.01%
121,399
-40,829
-25% -$754K
TU icon
1254
Telus
TU
$15.2B
$2.36M 0.01%
+178,648
New +$2.52M
CDNA icon
1255
CareDx
CDNA
$2.45B
$2.36M 0.01%
125,004
-43,717
-26% -$732K
TREX icon
1256
Trex
TREX
$5.1B
$2.35M 0.01%
67,092
-4,482
-6% -$181K
ADTN icon
1257
Adtran
ADTN
$665M
$2.35M 0.01%
270,589
+19,031
+8% +$165K
SGRY icon
1258
Surgery Partners
SGRY
$2.01B
$2.34M 0.01%
151,504
+668
+0.4% +$12.3K
HGV icon
1259
Hilton Grand Vacations
HGV
$3.49B
$2.33M 0.01%
52,174
-12,277
-19% -$522K
MCY icon
1260
Mercury Insurance
MCY
$5.84B
$2.33M 0.01%
24,789
+7,016
+39% +$609K
CBL
1261
CBL Properties
CBL
$1.77B
$2.32M 0.01%
62,646
-1,168
-2% -$38.1K
AVDL
1262
DELISTED
Avadel Pharmaceuticals
AVDL
$2.31M 0.01%
107,104
-58,608
-35% -$1.14M
NUVB icon
1263
Nuvation Bio
NUVB
$2.14B
$2.3M 0.01%
256,986
+73,470
+40% +$455K
BKD icon
1264
Brookdale Senior Living
BKD
$3B
$2.3M 0.01%
213,043
+164,185
+336% +$1.61M
RELY icon
1265
Remitly
RELY
$5.39B
$2.29M 0.01%
166,292
-27,634
-14% -$401K
ZETA icon
1266
Zeta Global
ZETA
$7.44B
$2.29M 0.01%
112,514
-13,974
-11% -$261K
ADT icon
1267
ADT
ADT
$5.34B
$2.26M 0.01%
280,324
-30,740
-10% -$256K
DVA icon
1268
DaVita
DVA
$11.6B
$2.26M 0.01%
19,900
-4,779
-19% -$581K
INDA icon
1269
iShares MSCI India ETF
INDA
$6.58B
$2.26M 0.01%
+41,800
New +$2.25M
TVTX icon
1270
Travere Therapeutics
TVTX
$5.79B
$2.25M 0.01%
58,926
-30,517
-34% -$992K
AIOT
1271
PowerFleet Inc
AIOT
$421M
$2.23M 0.01%
419,478
+185,036
+79% +$947K
MNDY icon
1272
monday.com
MNDY
$3.99B
$2.23M 0.01%
15,100
+100
+0.7% +$16.8K
NAVI icon
1273
Navient
NAVI
$867M
$2.23M 0.01%
171,318
+137,630
+409% +$1.71M
FSV icon
1274
FirstService
FSV
$6.24B
$2.22M 0.01%
+14,288
New +$2.32M
NUS icon
1275
Nu Skin
NUS
$236M
$2.22M 0.01%
230,900
+17,400
+8% +$180K
49 50
51
52 53

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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.