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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
MUR icon
1826
Murphy Oil
MUR
$4.99B
$541K ﹤0.01%
17,309
-1,556
-8% -$46.8K
SSP icon
1827
E.W. Scripps
SSP
$310M
$538K ﹤0.01%
134,844
+81,344
+152% +$274K
JANX icon
1828
Janux Therapeutics
JANX
$978M
$531K ﹤0.01%
38,487
+4,967
+15% +$117K
UNTY icon
1829
Unity Bancorp
UNTY
$620M
$531K ﹤0.01%
10,267
-361
-3% -$18K
TITN icon
1830
Titan Machinery
TITN
$420M
$530K ﹤0.01%
+35,271
New +$568K
AMBP icon
1831
Ardagh Metal Packaging
AMBP
$3.16B
$529K ﹤0.01%
129,102
+64,200
+99% +$244K
GLIBK
1832
Liberty Capital Corp Series C GCI Group Common Stock
GLIBK
$1.07B
$528K ﹤0.01%
14,193
-850
-6% -$29.8K
NBBK icon
1833
NB Bancorp
NBBK
$1B
$528K ﹤0.01%
+26,641
New +$507K
PII icon
1834
Polaris
PII
$3.91B
$527K ﹤0.01%
8,330
-5,309
-39% -$350K
GDEN
1835
DELISTED
Golden Entertainment
GDEN
$526K ﹤0.01%
19,354
+7,947
+70% +$206K
AVO icon
1836
Mission Produce
AVO
$1.15B
$526K ﹤0.01%
45,348
-1,681
-4% -$20.1K
NIC icon
1837
Nicolet Bankshares
NIC
$3.73B
$525K ﹤0.01%
4,328
+754
+21% +$95.3K
CMCL icon
1838
Caledonia Mining Corp
CMCL
$439M
$525K ﹤0.01%
20,045
+10,077
+101% +$296K
SANA icon
1839
Sana Biotechnology
SANA
$1.1B
$524K ﹤0.01%
128,856
-69,323
-35% -$310K
SOC icon
1840
Sable Offshore Corp
SOC
$773M
$521K ﹤0.01%
57,767
-10,613
-16% -$100K
BNL icon
1841
Broadstone Net Lease
BNL
$4.35B
$520K ﹤0.01%
29,947
-39,450
-57% -$710K
FBIZ icon
1842
First Business Financial Services
FBIZ
$601M
$520K ﹤0.01%
9,576
+3,761
+65% +$197K
PLTK icon
1843
Playtika
PLTK
$961M
$520K ﹤0.01%
131,600
+100
+0.1% +$391
AVAH icon
1844
Aveanna Healthcare
AVAH
$2.46B
$519K ﹤0.01%
63,534
-76,029
-54% -$687K
WTTR icon
1845
Select Water Solutions
WTTR
$2.63B
$517K ﹤0.01%
49,100
-28,216
-36% -$304K
ABG icon
1846
Asbury Automotive
ABG
$3.78B
$516K ﹤0.01%
2,220
-6,698
-75% -$1.58M
LENZ
1847
LENZ Therapeutics
LENZ
$145M
$516K ﹤0.01%
32,235
+8,122
+34% +$237K
BHVN icon
1848
Biohaven
BHVN
$2.24B
$515K ﹤0.01%
45,598
-1,269
-3% -$15.7K
MCRI icon
1849
Monarch Casino & Resort
MCRI
$2.2B
$513K ﹤0.01%
5,364
+1,023
+24% +$98.4K
CFLT
1850
DELISTED
Confluent
CFLT
$512K ﹤0.01%
16,942
-279,829
-94% -$6.87M
72 73
74
75 76

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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.