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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
CDTX
1476
DELISTED
Cidara Therapeutics
CDTX
$1.26M ﹤0.01%
5,717
+719
+14% +$116K
KRC icon
1477
Kilroy Realty
KRC
$4.22B
$1.26M ﹤0.01%
33,664
-457
-1% -$18.7K
ANIP icon
1478
ANI Pharmaceuticals
ANIP
$1.72B
$1.26M ﹤0.01%
15,929
-4,143
-21% -$359K
EMCS
1479
Xtrackers MSCI Emerging Markets Select ETF
EMCS
$1.01B
$1.26M ﹤0.01%
35,286
– –
OZK icon
1480
Bank OZK
OZK
$5.69B
$1.25M ﹤0.01%
27,266
-1,600
-6% -$74.8K
YEXT icon
1481
Yext
YEXT
$574M
$1.25M ﹤0.01%
155,167
+88,157
+132% +$743K
INOD icon
1482
Innodata
INOD
$2.03B
$1.25M ﹤0.01%
24,521
+1,151
+5% +$75.1K
STRA icon
1483
Strategic Education
STRA
$1.81B
$1.25M ﹤0.01%
15,573
-5,924
-28% -$473K
DYN icon
1484
Dyne Therapeutics
DYN
$4.85B
$1.25M ﹤0.01%
63,653
+23,694
+59% +$449K
CC icon
1485
Chemours
CC
$2.29B
$1.24M ﹤0.01%
105,524
+411
+0.4% +$5.28K
VPG icon
1486
Vishay Precision Group
VPG
$908M
$1.24M ﹤0.01%
32,134
+19,341
+151% +$684K
FAF icon
1487
First American
FAF
$7.38B
$1.23M ﹤0.01%
20,097
-4,212
-17% -$264K
PBI icon
1488
Pitney Bowes
PBI
$2.28B
$1.23M ﹤0.01%
116,437
-54,875
-32% -$569K
PVH icon
1489
PVH
PVH
$3.76B
$1.23M ﹤0.01%
18,302
-4,942
-21% -$386K
DOLE icon
1490
Dole
DOLE
$1.23B
$1.23M ﹤0.01%
+81,729
New +$1.14M
ALRM icon
1491
Alarm.com
ALRM
$2.72B
$1.22M ﹤0.01%
23,908
-2,569
-10% -$131K
PRKS icon
1492
United Parks & Resorts
PRKS
$2.01B
$1.22M ﹤0.01%
33,552
+12,086
+56% +$502K
IBOC icon
1493
International Bancshares
IBOC
$4.52B
$1.22M ﹤0.01%
18,295
+6,492
+55% +$439K
DNLI icon
1494
Denali Therapeutics
DNLI
$4.04B
$1.21M ﹤0.01%
73,581
-6,545
-8% -$110K
CTRN icon
1495
Citi Trends
CTRN
$617M
$1.21M ﹤0.01%
29,193
+921
+3% +$36.4K
ARDT
1496
Ardent Health
ARDT
$1.57B
$1.21M ﹤0.01%
137,124
+52,294
+62% +$605K
VSAT icon
1497
Viasat
VSAT
$12B
$1.21M ﹤0.01%
35,088
-11,949
-25% -$422K
DHC
1498
Diversified Healthcare Trust
DHC
$2.02B
$1.2M ﹤0.01%
247,726
+41,721
+20% +$189K
CXW icon
1499
CoreCivic
CXW
$3.32B
$1.2M ﹤0.01%
62,626
-38,155
-38% -$699K
MSGS icon
1500
Madison Square Garden
MSGS
$9.97B
$1.2M ﹤0.01%
4,625
-1,823
-28% -$415K
58 59
60
61 62

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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.