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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
GD icon
176
General Dynamics
GD
$107B
$40.3M 0.09%
119,805
-4,304
-3% -$1.47M
RCL icon
177
Royal Caribbean
RCL
$82.4B
$40.1M 0.09%
143,773
-4,876
-3% -$1.38M
GM icon
178
General Motors
GM
$76.1B
$40.1M 0.09%
492,948
-12,577
-2% -$887K
MRVL icon
179
Marvell Technology
MRVL
$195B
$40M 0.09%
471,021
+17,568
+4% +$1.54M
TDG icon
180
TransDigm Group
TDG
$68.3B
$39.9M 0.09%
30,007
-397
-1% -$520K
EQIX icon
181
Equinix
EQIX
$105B
$39.8M 0.09%
51,997
-1,584
-3% -$1.24M
TEL icon
182
TE Connectivity
TEL
$62B
$39.5M 0.09%
173,716
-15,771
-8% -$3.65M
CSX icon
183
CSX Corp
CSX
$92.8B
$39.4M 0.09%
1,088,104
+51,980
+5% +$1.86M
UPS icon
184
United Parcel Service
UPS
$88.4B
$39.3M 0.09%
395,800
-5,539
-1% -$518K
WBD icon
185
Warner Bros
WBD
$69.3B
$39.2M 0.09%
1,358,934
-728,106
-35% -$17M
WDC icon
186
Western Digital
WDC
$157B
$39.1M 0.09%
226,966
+29,606
+15% +$4.49M
CMI icon
187
Cummins
CMI
$87.8B
$39.1M 0.09%
76,511
-3,751
-5% -$1.75M
EMR icon
188
Emerson Electric
EMR
$91.4B
$38.7M 0.09%
291,558
-4,351
-1% -$577K
JETS icon
189
US Global Jets ETF
JETS
$825M
$38.7M 0.09%
1,378,340
+43,224
+3% +$1.12M
CI icon
190
Cigna
CI
$73.3B
$38.6M 0.09%
140,364
-9,965
-7% -$2.79M
VLO icon
191
Valero Energy
VLO
$95.1B
$38.6M 0.09%
237,194
+8,440
+4% +$1.43M
MAR icon
192
Marriott International
MAR
$92.5B
$38.3M 0.09%
123,415
-4,069
-3% -$1.16M
AON icon
193
Aon
AON
$74.7B
$38.2M 0.09%
108,259
-1,184
-1% -$413K
GLW icon
194
Corning
GLW
$144B
$38M 0.08%
433,640
-3,352
-0.8% -$289K
FCX icon
195
Freeport-McMoran
FCX
$96.9B
$37.8M 0.08%
743,918
-11,031
-1% -$478K
ITW icon
196
Illinois Tool Works
ITW
$83.3B
$37.3M 0.08%
151,604
-3,388
-2% -$844K
TFC icon
197
Truist Financial
TFC
$64.3B
$37.2M 0.08%
756,706
-41,232
-5% -$1.9M
PWR icon
198
Quanta Services
PWR
$102B
$36.9M 0.08%
87,347
+9,432
+12% +$4.14M
ENB icon
199
Enbridge
ENB
$112B
$36.7M 0.08%
+765,130
New +$36.5M
ADSK icon
200
Autodesk
ADSK
$52.7B
$36M 0.08%
121,560
-8,580
-7% -$2.6M
6 7
8
9 10

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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.