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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
ACVA icon
1901
ACV Auctions
ACVA
$1.35B
$448K ﹤0.01%
55,897
+1,692
+3% +$13.7K
ASTE icon
1902
Astec Industries
ASTE
$975M
$447K ﹤0.01%
+10,308
New +$470K
ABUS icon
1903
Arbutus Biopharma
ABUS
$906M
$446K ﹤0.01%
92,769
+79,906
+621% +$359K
ARLO icon
1904
Arlo Technologies
ARLO
$1.54B
$446K ﹤0.01%
31,880
+21,264
+200% +$335K
BZH icon
1905
Beazer Homes USA
BZH
$874M
$446K ﹤0.01%
21,985
-3,464
-14% -$77.1K
PTON icon
1906
Peloton Interactive
PTON
$2.44B
$444K ﹤0.01%
72,044
-78,900
-52% -$555K
RDVT icon
1907
Red Violet
RDVT
$1.18B
$443K ﹤0.01%
7,781
+153
+2% +$8.3K
NATH icon
1908
Nathan's Famous
NATH
$397M
$442K ﹤0.01%
4,724
– –
GHM icon
1909
Graham Corp
GHM
$1.3B
$441K ﹤0.01%
6,864
+1,553
+29% +$93.7K
BSVN icon
1910
Bank7 Corp
BSVN
$499M
$438K ﹤0.01%
10,700
+2,200
+26% +$94K
LIND icon
1911
Lindblad Expeditions
LIND
$2.26B
$438K ﹤0.01%
30,364
-3,023
-9% -$38.1K
MGRC icon
1912
McGrath RentCorp
MGRC
$2.94B
$436K ﹤0.01%
4,157
+1,688
+68% +$183K
ANAB icon
1913
AnaptysBio
ANAB
$1.66B
$434K ﹤0.01%
+8,955
New +$349K
SANM icon
1914
Sanmina
SANM
$11.1B
$434K ﹤0.01%
2,889
-12,462
-81% -$1.84M
EOLS icon
1915
Evolus
EOLS
$530M
$433K ﹤0.01%
65,096
-23,071
-26% -$156K
PAYS icon
1916
Paysign
PAYS
$735M
$433K ﹤0.01%
84,055
+24,772
+42% +$134K
CADE
1917
DELISTED
Cadence Bank
CADE
$433K ﹤0.01%
10,098
-396,728
-98% -$15.7M
BMRC icon
1918
Bank of Marin Bancorp
BMRC
$462M
$432K ﹤0.01%
16,613
+4,172
+34% +$107K
CFR icon
1919
Cullen/Frost Bankers
CFR
$10.5B
$432K ﹤0.01%
3,412
-2,365
-41% -$297K
AAT
1920
American Assets Trust
AAT
$1.41B
$431K ﹤0.01%
22,751
-1,922
-8% -$37.1K
MTRN icon
1921
Materion
MTRN
$5.88B
$430K ﹤0.01%
3,460
-431
-11% -$53.1K
PLAY icon
1922
Dave & Buster's
PLAY
$370M
$429K ﹤0.01%
+26,454
New +$443K
RBCAA icon
1923
Republic Bancorp
RBCAA
$1.92B
$429K ﹤0.01%
6,213
-834
-12% -$57.8K
AEIS icon
1924
Advanced Energy
AEIS
$13.2B
$428K ﹤0.01%
2,044
-1,546
-43% -$315K
SOLS
1925
Solstice Advanced Materials
SOLS
$9.94B
$427K ﹤0.01%
+8,795
New +$414K
75 76
77
78 79

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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.