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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
(+2.6%)
Cap. Flow
+$282M
Cap. Flow
% of AUM
0.63%
Top 10 Holdings %
Top 10 Hldgs %
28.98%
Holding
2,613
New
247
Increased
776
Reduced
1,214
Closed
248
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Invesco S&P 500 Equal Weight ETF
RSP
|
+$201M |
| 2 |
Royal Bank of Canada
RY
|
+$78.9M |
| 3 |
Brookfield Renewable
BEP
|
+$77.7M |
| 4 |
Shopify
SHOP
|
+$70.6M |
| 5 |
Invesco Senior Loan ETF
BKLN
|
+$66.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$112M |
| 2 |
NVIDIA
NVDA
|
+$101M |
| 3 |
Zillow
ZG
|
+$101M |
| 4 |
Microsoft
MSFT
|
+$80.8M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
1551
NNN REIT
NNN
$8.79B
| $1.08M | ﹤0.01% |
27,223
-9,911
| -27% | -$406K |
|
1552
Synaptics
SYNA
$4.3B
| $1.08M | ﹤0.01% |
14,567
+10,588
| +266% | +$744K |
|
1553
Allient
ALNT
$1.94B
| $1.07M | ﹤0.01% |
19,896
+5,795
| +41% | +$303K |
|
1554
SSR Mining
SSRM
$6.49B
| $1.07M | ﹤0.01% |
48,603
+39,928
| +460% | +$889K |
|
1555
H.B. Fuller
FUL
$3.24B
| $1.07M | ﹤0.01% |
17,933
-4,533
| -20% | -$266K |
|
1556
HCI Group
HCI
$2.28B
| $1.07M | ﹤0.01% |
5,561
+2,392
| +75% | +$451K |
|
1557
Forestar Group
FOR
$1.49B
| $1.06M | ﹤0.01% |
43,215
-4,569
| -10% | -$117K |
|
1558
WD-40
WDFC
$3.12B
| $1.06M | ﹤0.01% |
5,364
-825
| -13% | -$163K |
|
1559
PennyMac Financial
PFSI
$4B
| $1.06M | ﹤0.01% |
8,011
+5,010
| +167% | +$638K |
|
|
SEM
1560
DELISTED
Select Medical
SEM
| $1.05M | ﹤0.01% |
71,016
-103,298
| -59% | -$1.46M |
|
1561
Kopin
KOPN
$898M
| $1.05M | ﹤0.01% |
+450,000
| New | +$1.3M |
|
1562
MGIC Investment
MTG
$6.29B
| $1.05M | ﹤0.01% |
35,824
-57,387
| -62% | -$1.61M |
|
|
TERN
1563
DELISTED
Terns Pharmaceuticals
TERN
| $1.05M | ﹤0.01% |
25,874
-19,608
| -43% | -$453K |
|
|
PDM
1564
Piedmont Realty Trust
PDM
$1.19B
| $1.04M | ﹤0.01% |
124,896
+15,116
| +14% | +$126K |
|
1565
Shoals Technologies Group
SHLS
$1.4B
| $1.04M | ﹤0.01% |
122,456
-144,659
| -54% | -$1.3M |
|
1566
Willdan Group
WLDN
$1.29B
| $1.04M | ﹤0.01% |
10,015
-1,972
| -16% | -$194K |
|
1567
Globalstar
GSAT
$10.8B
| $1.04M | ﹤0.01% |
+16,972
| New | +$937K |
|
1568
Celldex Therapeutics
CLDX
$3.52B
| $1.03M | ﹤0.01% |
38,066
-6,693
| -15% | -$176K |
|
|
GPGI
1569
GPGI Inc
GPGI
$3.85B
| $1.03M | ﹤0.01% |
53,349
+5,811
| +12% | +$116K |
|
1570
Kodiak Sciences
KOD
$2.72B
| $1.03M | ﹤0.01% |
36,775
-5,913
| -14% | -$121K |
|
1571
Visteon
VC
$2.84B
| $1.03M | ﹤0.01% |
10,789
-18,982
| -64% | -$2.01M |
|
1572
Tyra Biosciences
TYRA
$1.51B
| $1.03M | ﹤0.01% |
39,023
+9,375
| +32% | +$172K |
|
|
NSA
1573
DELISTED
National Storage Affiliates Trust
NSA
| $1.03M | ﹤0.01% |
+36,356
| New | +$1.08M |
|
1574
Hippo Holdings
HIPO
$868M
| $1.02M | ﹤0.01% |
33,922
+25,709
| +313% | +$859K |
|
1575
Oric Pharmaceuticals
ORIC
$1.42B
| $1.02M | ﹤0.01% |
124,345
+34,592
| +39% | +$398K |
|
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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.