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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
RH icon
1501
RH
RH
$3.41B
$1.2M ﹤0.01%
6,677
-4,002
-37% -$684K
PZZA icon
1502
Papa John's
PZZA
$793M
$1.19M ﹤0.01%
+31,039
New +$1.37M
HAFC icon
1503
Hanmi Financial
HAFC
$956M
$1.19M ﹤0.01%
44,093
-977
-2% -$26.1K
SUPV
1504
Grupo Supervielle
SUPV
$725M
$1.19M ﹤0.01%
+100,815
New +$986K
CDZI icon
1505
Cadiz
CDZI
$292M
$1.19M ﹤0.01%
212,117
+95,543
+82% +$513K
FRPT icon
1506
Freshpet
FRPT
$3.48B
$1.19M ﹤0.01%
19,500
-5,815
-23% -$330K
SNEX icon
1507
StoneX
SNEX
$8.37B
$1.19M ﹤0.01%
28,064
-5,277
-16% -$221K
SLM icon
1508
SLM Corp
SLM
$5.26B
$1.18M ﹤0.01%
43,585
+18,009
+70% +$494K
AQST icon
1509
Aquestive Therapeutics
AQST
$531M
$1.17M ﹤0.01%
181,511
+35,489
+24% +$221K
SXT icon
1510
Sensient Technologies
SXT
$5.53B
$1.17M ﹤0.01%
12,436
-962
-7% -$90.8K
LFST icon
1511
Lifestance Health
LFST
$4.67B
$1.17M ﹤0.01%
165,825
-2,970
-2% -$17.9K
BMA icon
1512
Banco Macro
BMA
$5.1B
$1.17M ﹤0.01%
+12,940
New +$978K
LYTS icon
1513
LSI Industries
LYTS
$890M
$1.17M ﹤0.01%
63,682
+376
+0.6% +$7.64K
KTB icon
1514
Kontoor Brands
KTB
$4.51B
$1.17M ﹤0.01%
19,097
-14,999
-44% -$1.11M
OLN icon
1515
Olin
OLN
$2.13B
$1.16M ﹤0.01%
55,905
+44,275
+381% +$955K
MIDD icon
1516
Middleby
MIDD
$5.38B
$1.16M ﹤0.01%
7,832
+2,960
+61% +$389K
HIFS icon
1517
Hingham Institution for Saving
HIFS
$689M
$1.16M ﹤0.01%
4,088
+800
+24% +$229K
PRM icon
1518
Perimeter Solutions
PRM
$5.66B
$1.16M ﹤0.01%
42,113
+13,986
+50% +$353K
LBRDK icon
1519
Liberty Broadband Class C
LBRDK
$5.07B
$1.16M ﹤0.01%
23,827
-14,275
-37% -$742K
DV icon
1520
DoubleVerify
DV
$2.04B
$1.16M ﹤0.01%
100,973
-21,892
-18% -$241K
HBNC icon
1521
Horizon Bancorp
HBNC
$1.05B
$1.15M ﹤0.01%
67,848
+54,866
+423% +$909K
GDOT icon
1522
Green Dot
GDOT
$766M
$1.15M ﹤0.01%
89,409
+69,509
+349% +$864K
ARDX icon
1523
Ardelyx
ARDX
$1.01B
$1.14M ﹤0.01%
195,944
-49,194
-20% -$274K
NRDS icon
1524
NerdWallet
NRDS
$617M
$1.14M ﹤0.01%
84,192
-16,600
-16% -$217K
VERA icon
1525
Vera Therapeutics
VERA
$2.08B
$1.14M ﹤0.01%
22,487
-5,357
-19% -$190K
59 60
61
62 63

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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.