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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
LNC icon
1451
Lincoln National
LNC
$8.44B
$1.34M ﹤0.01%
30,124
+13,842
+85% +$577K
BBAR icon
1452
BBVA Argentina
BBAR
$3.25B
$1.34M ﹤0.01%
+74,184
New +$1.06M
WWW icon
1453
Wolverine World Wide
WWW
$1.63B
$1.34M ﹤0.01%
73,735
-19,860
-21% -$401K
QUBT icon
1454
Quantum Computing Inc
QUBT
$2.02B
$1.33M ﹤0.01%
129,621
+36,449
+39% +$519K
VNDA icon
1455
Vanda Pharmaceuticals
VNDA
$314M
$1.33M ﹤0.01%
150,542
+48,149
+47% +$265K
SAIL
1456
SailPoint Inc
SAIL
$11.3B
$1.33M ﹤0.01%
65,536
+45,109
+221% +$940K
ARW icon
1457
Arrow Electronics
ARW
$10.6B
$1.32M ﹤0.01%
12,017
-1,148
-9% -$130K
AWI icon
1458
Armstrong World Industries
AWI
$7.75B
$1.32M ﹤0.01%
6,904
-1,571
-19% -$300K
SIGA icon
1459
SIGA Technologies
SIGA
$206M
$1.32M ﹤0.01%
215,316
+14
+0% +$100
AMRC icon
1460
Ameresco
AMRC
$1.47B
$1.31M ﹤0.01%
44,823
+35,613
+387% +$1.25M
VTOL icon
1461
Bristow Group
VTOL
$1.36B
$1.31M ﹤0.01%
35,788
+3,964
+12% +$149K
CRMT icon
1462
America's Car Mart
CRMT
$26.2M
$1.3M ﹤0.01%
51,634
+44,042
+580% +$1.06M
WRLD icon
1463
World Acceptance Corp
WRLD
$884M
$1.3M ﹤0.01%
9,279
+3,142
+51% +$473K
HR icon
1464
Healthcare Realty
HR
$6.58B
$1.3M ﹤0.01%
76,764
-9,403
-11% -$167K
STRL icon
1465
Sterling Infrastructure
STRL
$16.8B
$1.3M ﹤0.01%
4,244
-1,913
-31% -$659K
CCC
1466
CCC Intelligent Solutions
CCC
$4.19B
$1.3M ﹤0.01%
163,209
+20,693
+15% +$168K
PAHC icon
1467
Phibro Animal Health
PAHC
$1.37B
$1.3M ﹤0.01%
34,721
-32,616
-48% -$1.32M
ITHAU
1468
ITHAX Acquisition Corp III Units
ITHAU
$1.3M ﹤0.01%
+130,000
New +$1.29M
OIS icon
1469
Oil States International
OIS
$536M
$1.29M ﹤0.01%
190,915
+136,100
+248% +$874K
TWI icon
1470
Titan International
TWI
$450M
$1.29M ﹤0.01%
164,526
+77,116
+88% +$604K
PSKY
1471
Paramount Skydance Corp
PSKY
$11.2B
$1.28M ﹤0.01%
95,321
+20,395
+27% +$318K
MDXG icon
1472
MiMedx Group
MDXG
$624M
$1.27M ﹤0.01%
188,213
+18,894
+11% +$132K
SCSC icon
1473
Scansource
SCSC
$1.06B
$1.27M ﹤0.01%
32,530
+7,183
+28% +$297K
HMN icon
1474
Horace Mann Educators
HMN
$2.09B
$1.27M ﹤0.01%
27,402
+3,126
+13% +$141K
RM icon
1475
Regional Management Corp
RM
$297M
$1.26M ﹤0.01%
32,645
-482
-1% -$18.7K
57 58
59
60 61

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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.