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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 | |
|---|---|---|---|---|---|---|
|
CALY
2176
Callaway Golf Company
CALY
$2.99B
| $192K | ﹤0.01% |
16,473
+4,019
| +32% | +$42.4K |
|
|
FLOC
2177
Flowco Holdings
FLOC
$1.01B
| $191K | ﹤0.01% |
10,218
| – | – |
|
2178
Standard BioTools
LAB
$307M
| $191K | ﹤0.01% |
149,395
+127,016
| +568% | +$171K |
|
2179
FerroAtlántica
GSM
$820M
| $190K | ﹤0.01% |
+40,957
| New | +$189K |
|
|
AEVA
2180
Aeva Technologies
AEVA
$1.64B
| $189K | ﹤0.01% |
14,235
+2,027
| +17% | +$28.9K |
|
2181
First Majestic Silver
AG
$9.22B
| $188K | ﹤0.01% |
+11,231
| New | +$156K |
|
2182
Vestis
VSTS
$1.85B
| $184K | ﹤0.01% |
27,628
+16,662
| +152% | +$97.1K |
|
2183
NovaGold Resources
NG
$3.41B
| $184K | ﹤0.01% |
19,717
+3,372
| +21% | +$31.3K |
|
2184
Byrna Technologies
BYRN
$97.8M
| $182K | ﹤0.01% |
10,844
-400
| -4% | -$7.79K |
|
|
NGD
2185
DELISTED
New Gold Inc
NGD
| $177K | ﹤0.01% |
+20,334
| New | +$153K |
|
2186
NextNav
NN
$3.31B
| $177K | ﹤0.01% |
10,618
-56,987
| -84% | -$809K |
|
2187
Rayonier Advanced Materials
RYAM
$570M
| $175K | ﹤0.01% |
29,787
-54,197
| -65% | -$352K |
|
2188
Gyre Therapeutics
GYRE
$700M
| $175K | ﹤0.01% |
24,800
-14,200
| -36% | -$110K |
|
2189
908 Devices
MASS
$412M
| $170K | ﹤0.01% |
+32,294
| New | +$226K |
|
2190
Solid Biosciences
SLDB
$989M
| $169K | ﹤0.01% |
30,007
-16,991
| -36% | -$92.1K |
|
2191
Radiant Logistics
RLGT
$408M
| $169K | ﹤0.01% |
26,700
-20,300
| -43% | -$126K |
|
2192
Rackspace Technology
RXT
$1.08B
| $166K | ﹤0.01% |
170,500
+2,900
| +2% | +$3.65K |
|
2193
ImmunityBio
IBRX
$8.13B
| $165K | ﹤0.01% |
83,538
-4,301
| -5% | -$9.74K |
|
|
DCH
2194
Dauch Corp
DCH
$1.58B
| $164K | ﹤0.01% |
25,654
-151,975
| -86% | -$945K |
|
2195
MoonLake Immunotherapeutics
MLTX
$1.42B
| $164K | ﹤0.01% |
12,438
-274
| -2% | -$3.23K |
|
2196
Inogen
INGN
$156M
| $163K | ﹤0.01% |
24,231
-9,431
| -28% | -$70.7K |
|
2197
Universal Logistics Holdings
ULH
$522M
| $163K | ﹤0.01% |
10,700
-450
| -4% | -$7.57K |
|
|
KREF
2198
KKR Real Estate Finance Trust
KREF
$496M
| $159K | ﹤0.01% |
+19,399
| New | +$164K |
|
2199
Richardson Electronics
RELL
$302M
| $159K | ﹤0.01% |
+14,600
| New | +$156K |
|
2200
Newell Brands
NWL
$2.61B
| $159K | ﹤0.01% |
42,625
-202,349
| -83% | -$817K |
|
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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.