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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 | |
|---|---|---|---|---|---|---|
1951
ADC Therapeutics
ADCT
$134M
| $400K | ﹤0.01% |
+113,369
| New | +$460K |
|
1952
Concrete Pumping Holdings
BBCP
$475M
| $399K | ﹤0.01% |
59,500
+13,300
| +29% | +$87.4K |
|
1953
Intapp
INTA
$3.16B
| $399K | ﹤0.01% |
8,699
-4,878
| -36% | -$202K |
|
1954
Tiptree Inc
TIPT
$677M
| $396K | ﹤0.01% |
21,691
-13,865
| -39% | -$253K |
|
1955
ProPetro Holding
PUMP
$1.42B
| $394K | ﹤0.01% |
41,436
-21,418
| -34% | -$186K |
|
1956
Lands' End
LE
$390M
| $394K | ﹤0.01% |
27,111
+6,300
| +30% | +$97.3K |
|
1957
Telos
TLS
$344M
| $394K | ﹤0.01% |
77,161
+10,361
| +16% | +$64.7K |
|
1958
Fennec Pharmaceuticals
FENC
$423M
| $393K | ﹤0.01% |
51,000
+18,900
| +59% | +$155K |
|
1959
Liquidity Services
LQDT
$1.35B
| $392K | ﹤0.01% |
12,928
+1,005
| +8% | +$27K |
|
1960
PureCycle Technologies
PCT
$1.41B
| $390K | ﹤0.01% |
45,418
+21,706
| +92% | +$230K |
|
1961
Commerce Bancshares
CBSH
$8.61B
| $390K | ﹤0.01% |
7,450
-5,108
| -41% | -$267K |
|
1962
Lemonade
LMND
$4.1B
| $389K | ﹤0.01% |
5,458
-2,365
| -30% | -$159K |
|
1963
Carriage Services
CSV
$555M
| $386K | ﹤0.01% |
9,120
-3,200
| -26% | -$139K |
|
1964
Luxfer Holdings
LXFR
$457M
| $386K | ﹤0.01% |
28,500
-6,238
| -18% | -$81.2K |
|
1965
Home Bancorp
HBCP
$569M
| $384K | ﹤0.01% |
+6,651
| New | +$370K |
|
1966
Accel Entertainment
ACEL
$1.01B
| $382K | ﹤0.01% |
33,522
+10,510
| +46% | +$111K |
|
1967
Bit Digital
BTBT
$520M
| $382K | ﹤0.01% |
202,321
-10,544
| -5% | -$30.5K |
|
1968
LiveWire
LVWR
$256M
| $381K | ﹤0.01% |
86,200
+20,000
| +30% | +$96.2K |
|
1969
United States Antimony
UAMY
$799M
| $379K | ﹤0.01% |
+75,561
| New | +$593K |
|
1970
STAG Industrial
STAG
$7.12B
| $378K | ﹤0.01% |
10,276
-8,648
| -46% | -$328K |
|
|
XIFR
1971
XPLR Infrastructure LP
XIFR
$1.09B
| $377K | ﹤0.01% |
37,722
-3,115
| -8% | -$30.2K |
|
1972
Monopar Therapeutics
MNPR
$741M
| $376K | ﹤0.01% |
+5,757
| New | +$470K |
|
|
REVG
1973
DELISTED
REV Group
REVG
| $376K | ﹤0.01% |
6,175
-119,684
| -95% | -$6.72M |
|
1974
Intrepid Potash
IPI
$484M
| $375K | ﹤0.01% |
13,518
+4,000
| +42% | +$108K |
|
|
AL
1975
DELISTED
Air Lease Corp
AL
| $374K | ﹤0.01% |
5,825
-4,281
| -42% | -$273K |
|
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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.