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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
RIGL icon
1851
Rigel Pharmaceuticals
RIGL
$762M
$512K ﹤0.01%
11,958
-12,000
-50% -$452K
GRPN icon
1852
Groupon
GRPN
$894M
$511K ﹤0.01%
+29,021
New +$547K
SAM icon
1853
Boston Beer
SAM
$1.9B
$511K ﹤0.01%
2,619
-3,200
-55% -$660K
ODC icon
1854
Oil-Dri
ODC
$1.27B
$510K ﹤0.01%
10,430
+3,671
+54% +$203K
ENVA icon
1855
Enova International
ENVA
$6.52B
$510K ﹤0.01%
3,247
-7,820
-71% -$1.02M
PRA
1856
DELISTED
ProAssurance
PRA
$507K ﹤0.01%
20,968
-2,318
-10% -$55.7K
KRO icon
1857
KRONOS Worldwide
KRO
$996M
$507K ﹤0.01%
114,600
-19,900
-15% -$96.6K
NOV icon
1858
NOV
NOV
$7.36B
$506K ﹤0.01%
32,377
-45,524
-58% -$675K
AIRS icon
1859
AirSculpt Technologies
AIRS
$244M
$504K ﹤0.01%
254,437
+183,142
+257% +$1.11M
ADACU
1860
American Drive Acquisition Co Units
ADACU
$499K ﹤0.01%
+50,000
New +$499K
ISTR icon
1861
Investar Holding Corp
ISTR
$425M
$497K ﹤0.01%
18,600
+9,400
+102% +$231K
PLYM
1862
DELISTED
Plymouth Industrial REIT
PLYM
$495K ﹤0.01%
+22,605
New +$497K
AROW icon
1863
Arrow Financial
AROW
$723M
$487K ﹤0.01%
15,499
+2,500
+19% +$73.9K
TPG icon
1864
TPG
TPG
$8.86B
$487K ﹤0.01%
7,622
-4,760
-38% -$281K
LOMA
1865
Loma Negra
LOMA
$1.11B
$486K ﹤0.01%
+37,553
New +$401K
ACMR icon
1866
ACM Research
ACMR
$5.65B
$480K ﹤0.01%
12,157
-15,468
-56% -$576K
TTI icon
1867
TETRA Technologies
TTI
$1.25B
$478K ﹤0.01%
51,018
-27,982
-35% -$216K
QDEL icon
1868
QuidelOrtho
QDEL
$1.03B
$478K ﹤0.01%
16,721
-4,779
-22% -$129K
CWEN.A
1869
DELISTED
Clearway Energy Class A
CWEN.A
$477K ﹤0.01%
15,184
-1,298
-8% -$40.6K
ANIK icon
1870
Anika Therapeutics
ANIK
$283M
$477K ﹤0.01%
49,596
+2,580
+5% +$24.7K
IHRT icon
1871
iHeartMedia
IHRT
$464M
$476K ﹤0.01%
+114,532
New +$428K
THS
1872
DELISTED
Treehouse Foods
THS
$476K ﹤0.01%
20,179
-24,440
-55% -$533K
DOMO icon
1873
Domo
DOMO
$187M
$475K ﹤0.01%
56,384
-1,476
-3% -$17.4K
DSGN icon
1874
Design Therapeutics
DSGN
$901M
$475K ﹤0.01%
50,657
+23,595
+87% +$185K
UVXY icon
1875
ProShares Ultra VIX Short-Term Futures ETF
UVXY
$278M
$474K ﹤0.01%
13,200
– –
73 74
75
76 77

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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.