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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 | |
|---|---|---|---|---|---|---|
1626
Marathon Digital Holdings
MARA
$3.56B
| $879K | ﹤0.01% |
97,907
-23,844
| -20% | -$352K |
|
1627
Radian Group
RDN
$4.92B
| $879K | ﹤0.01% |
24,419
-2,110
| -8% | -$73.7K |
|
1628
Pinduoduo
PDD
$120B
| $879K | ﹤0.01% |
7,748
-5,289
| -41% | -$657K |
|
1629
Fluor
FLR
$7B
| $877K | ﹤0.01% |
22,138
-110,190
| -83% | -$4.87M |
|
1630
Intuitive Machines
LUNR
$2.82B
| $876K | ﹤0.01% |
53,963
-28,801
| -35% | -$334K |
|
|
MOFG
1631
DELISTED
MidWestOne Financial Group
MOFG
| $874K | ﹤0.01% |
+22,690
| New | +$827K |
|
1632
Olema Pharmaceuticals
OLMA
$920M
| $874K | ﹤0.01% |
+34,940
| New | +$622K |
|
1633
Triumph Financial Inc
TFIN
$1.87B
| $864K | ﹤0.01% |
13,803
-751
| -5% | -$42.1K |
|
|
HOUS
1634
DELISTED
Anywhere Real Estate
HOUS
| $863K | ﹤0.01% |
60,950
-278,696
| -82% | -$3.41M |
|
|
BRSP
1635
BrightSpire Capital
BRSP
$629M
| $862K | ﹤0.01% |
153,863
+32,186
| +26% | +$177K |
|
1636
Syndax Pharmaceuticals
SNDX
$1.7B
| $856K | ﹤0.01% |
40,761
-9,569
| -19% | -$167K |
|
1637
Relay Therapeutics
RLAY
$4.37B
| $856K | ﹤0.01% |
101,160
+19,776
| +24% | +$141K |
|
1638
Metallus
MTUS
$892M
| $856K | ﹤0.01% |
49,872
+32,624
| +189% | +$559K |
|
1639
Worthington Enterprises
WOR
$2.85B
| $855K | ﹤0.01% |
16,570
+1,884
| +13% | +$104K |
|
1640
Harley-Davidson
HOG
$2.9B
| $853K | ﹤0.01% |
41,649
-7,533
| -15% | -$185K |
|
|
AHRT
1641
AH Realty Trust
AHRT
$506M
| $852K | ﹤0.01% |
128,757
+90,693
| +238% | +$598K |
|
1642
Cytek Biosciences
CTKB
$636M
| $851K | ﹤0.01% |
168,563
-169,655
| -50% | -$788K |
|
|
HTO
1643
H2O America
HTO
$2.65B
| $849K | ﹤0.01% |
17,327
-1,004
| -5% | -$48.1K |
|
1644
Fox Factory Holding Corp
FOXF
$886M
| $848K | ﹤0.01% |
49,568
+40,421
| +442% | +$771K |
|
1645
Boise Cascade
BCC
$2.94B
| $836K | ﹤0.01% |
11,364
+3,184
| +39% | +$232K |
|
1646
Diamondrock Hospitality Co
DRH
$2.51B
| $836K | ﹤0.01% |
93,264
-174,553
| -65% | -$1.49M |
|
1647
Knife River
KNF
$3.74B
| $835K | ﹤0.01% |
11,869
-2,561
| -18% | -$180K |
|
1648
Rexford Industrial Realty
REXR
$8.12B
| $834K | ﹤0.01% |
21,536
-19,454
| -47% | -$802K |
|
1649
Envista
NVST
$4.51B
| $830K | ﹤0.01% |
38,217
-9,905
| -21% | -$203K |
|
1650
Shake Shack
SHAK
$2.98B
| $829K | ﹤0.01% |
10,209
-6,454
| -39% | -$569K |
|
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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.