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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
SITC icon
1701
SITE Centers
SITC
$158M
$699K ﹤0.01%
108,804
+9,929
+10% +$75K
PXED
1702
Phoenix Education Partners
PXED
$988M
$696K ﹤0.01%
+22,983
New +$770K
ORKA
1703
Oruka Therapeutics
ORKA
$7.16B
$696K ﹤0.01%
+22,968
New +$640K
KNSA icon
1704
Kiniksa Pharmaceuticals
KNSA
$6.07B
$693K ﹤0.01%
16,799
-1,081
-6% -$43.4K
IDT icon
1705
IDT Corp
IDT
$1.67B
$693K ﹤0.01%
13,528
+1,680
+14% +$84.2K
FOA icon
1706
Finance of America Companies
FOA
$206M
$691K ﹤0.01%
28,550
+15,719
+123% +$358K
WD icon
1707
Walker & Dunlop
WD
$1.47B
$689K ﹤0.01%
11,456
+6,225
+119% +$442K
ACA icon
1708
Arcosa
ACA
$7.12B
$689K ﹤0.01%
6,481
-3,109
-32% -$314K
LEG icon
1709
Leggett & Platt
LEG
$1.32B
$688K ﹤0.01%
62,513
+6,111
+11% +$60.1K
RXRX icon
1710
Recursion Pharmaceuticals
RXRX
$1.78B
$687K ﹤0.01%
167,874
-10,477
-6% -$51.9K
HDSN
1711
Hudson Technologies
HDSN
$239M
$683K ﹤0.01%
99,764
+26,937
+37% +$212K
COTY icon
1712
Coty
COTY
$2.42B
$680K ﹤0.01%
220,908
-45,482
-17% -$165K
WLTH
1713
Wealthfront Corp
WLTH
$1.41B
$680K ﹤0.01%
+50,000
New +$664K
OUST icon
1714
Ouster
OUST
$3.25B
$678K ﹤0.01%
31,331
-9,733
-24% -$257K
SDGR icon
1715
Schrodinger
SDGR
$1.38B
$677K ﹤0.01%
37,865
-3,227
-8% -$61.2K
DVAX
1716
DELISTED
Dynavax Technologies
DVAX
$675K ﹤0.01%
43,902
-210,479
-83% -$2.32M
NRIM icon
1717
Northrim BanCorp
NRIM
$601M
$674K ﹤0.01%
25,313
-1,019
-4% -$24.2K
WEN icon
1718
Wendy's
WEN
$1.65B
$673K ﹤0.01%
80,778
-37,978
-32% -$328K
NTST
1719
NETSTREIT Corp
NTST
$2.09B
$672K ﹤0.01%
38,100
+16,178
+74% +$295K
PRLB icon
1720
Protolabs
PRLB
$2.21B
$671K ﹤0.01%
13,259
+3,928
+42% +$201K
IMMR icon
1721
Immersion
IMMR
$248M
$670K ﹤0.01%
98,500
+22,500
+30% +$153K
DNTH icon
1722
Dianthus Therapeutics
DNTH
$6.13B
$667K ﹤0.01%
16,175
+8,927
+123% +$346K
NPK icon
1723
National Presto Industries
NPK
$987M
$665K ﹤0.01%
6,233
+1,216
+24% +$127K
NNE
1724
Nano Nuclear Energy
NNE
$1.1B
$665K ﹤0.01%
+27,704
New +$1.06M
CNX icon
1725
CNX Resources
CNX
$5.23B
$662K ﹤0.01%
17,992
-6,922
-28% -$248K
67 68
69
70 71

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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.