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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
FUN icon
2151
Cedar Fair
FUN
$1.72B
$222K ﹤0.01%
14,475
-27,474
-65% -$497K
DNOW icon
2152
DNOW Inc
DNOW
$2.95B
$221K ﹤0.01%
16,691
-47,144
-74% -$662K
CRNC icon
2153
Cerence
CRNC
$392M
$220K ﹤0.01%
20,591
+3,800
+23% +$41.7K
DAWN
2154
DELISTED
Day One Biopharmaceuticals
DAWN
$218K ﹤0.01%
23,426
-3,566
-13% -$29.8K
UTL icon
2155
Unitil
UTL
$994M
$217K ﹤0.01%
4,487
-2,248
-33% -$109K
SVC
2156
Service Properties Trust
SVC
$1.06B
$217K ﹤0.01%
23,540
+180
+0.8% +$1.81K
CODI icon
2157
Compass Diversified
CODI
$940M
$213K ﹤0.01%
44,445
-2,512
-5% -$15.9K
AVT icon
2158
Avnet
AVT
$7.94B
$212K ﹤0.01%
4,406
-3,683
-46% -$181K
BETA
2159
Beta Technologies Inc
BETA
$5.84B
$209K ﹤0.01%
+7,425
New +$222K
CRML icon
2160
Critical Metals Corp
CRML
$974M
$207K ﹤0.01%
+29,889
New +$326K
AGRO icon
2161
Adecoagro
AGRO
$1.31B
$206K ﹤0.01%
+25,997
New +$204K
UPST icon
2162
Upstart Holdings
UPST
$2.93B
$205K ﹤0.01%
4,698
-3,498
-43% -$161K
UCB
2163
United Community Banks
UCB
$4.41B
$205K ﹤0.01%
6,579
-5,026
-43% -$155K
OSCR icon
2164
Oscar Health
OSCR
$9.37B
$205K ﹤0.01%
14,290
-4,750
-25% -$82.2K
GNW icon
2165
Genworth Financial
GNW
$3.76B
$205K ﹤0.01%
22,719
-61,474
-73% -$535K
RIG icon
2166
Transocean
RIG
$6.34B
$205K ﹤0.01%
49,549
-36,762
-43% -$143K
MSM icon
2167
MSC Industrial Direct
MSM
$6.75B
$204K ﹤0.01%
2,430
-1,821
-43% -$158K
REPX icon
2168
Riley Exploration Permian
REPX
$781M
$204K ﹤0.01%
7,725
-13,646
-64% -$363K
APPS icon
2169
Digital Turbine
APPS
$1.53B
$203K ﹤0.01%
40,528
-23,044
-36% -$130K
HBM icon
2170
Hudbay
HBM
$11.8B
$200K ﹤0.01%
+10,047
New +$170K
FULT icon
2171
Fulton Financial
FULT
$4.7B
$200K ﹤0.01%
10,331
-6,723
-39% -$124K
PMTS icon
2172
CPI Card Group
PMTS
$333M
$200K ﹤0.01%
+13,600
New +$205K
INN
2173
Summit Hotel Properties
INN
$653M
$197K ﹤0.01%
40,386
-51,629
-56% -$270K
CIO
2174
DELISTED
City Office REIT
CIO
$196K ﹤0.01%
28,100
-29,400
-51% -$203K
GME.WS
2175
GameStop Corp Warrants
GME.WS
$194K ﹤0.01%
+64,308
New +$199K
85 86
87
88 89

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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.