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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
CLSK icon
2201
CleanSpark
CLSK
$2.99B
$158K ﹤0.01%
15,606
-11,932
-43% -$179K
NCMI icon
2202
National CineMedia
NCMI
$246M
$157K ﹤0.01%
40,393
+2,000
+5% +$8.29K
ACH
2203
Accendra Health
ACH
$84.6M
$151K ﹤0.01%
+54,100
New +$193K
FF icon
2204
Future Fuel
FF
$256M
$149K ﹤0.01%
46,700
-23,300
-33% -$83.5K
NXE icon
2205
NexGen Energy
NXE
$6.95B
$147K ﹤0.01%
+15,985
New +$141K
JELD icon
2206
JELD-WEN Holding
JELD
$169M
$147K ﹤0.01%
59,800
-69,053
-54% -$227K
SPOK icon
2207
Spok Holdings
SPOK
$228M
$146K ﹤0.01%
+11,100
New +$157K
STGW icon
2208
Stagwell
STGW
$2.26B
$146K ﹤0.01%
29,926
-17,111
-36% -$89K
BTG icon
2209
B2Gold
BTG
$6.7B
$146K ﹤0.01%
+32,379
New +$151K
VIR icon
2210
Vir Biotechnology
VIR
$1.53B
$143K ﹤0.01%
23,659
-2,504
-10% -$14.9K
LCID icon
2211
Lucid Motors
LCID
$2.53B
$142K ﹤0.01%
13,453
-128,185
-91% -$2.05M
INNV icon
2212
InnovAge Holding
INNV
$1.44B
$137K ﹤0.01%
+26,400
New +$139K
MPT
2213
Medical Properties Trust
MPT
$2.45B
$135K ﹤0.01%
26,902
-22,381
-45% -$117K
XPER icon
2214
Xperi
XPER
$319M
$134K ﹤0.01%
22,893
-6,711
-23% -$42.1K
MRVI icon
2215
Maravai LifeSciences
MRVI
$869M
$133K ﹤0.01%
+40,900
New +$138K
CRSR icon
2216
Corsair Gaming
CRSR
$1.48B
$124K ﹤0.01%
+20,807
New +$145K
PLUG icon
2217
Plug Power
PLUG
$3.23B
$121K ﹤0.01%
61,620
-31,776
-34% -$83K
RGP icon
2218
Resources Connection
RGP
$145M
$121K ﹤0.01%
23,957
-33,900
-59% -$162K
QUAD icon
2219
Quad
QUAD
$501M
$118K ﹤0.01%
18,801
+800
+4% +$4.71K
AQN icon
2220
Algonquin Power & Utilities
AQN
$4.46B
$114K ﹤0.01%
+18,579
New +$110K
HNST icon
2221
The Honest Company
HNST
$542M
$112K ﹤0.01%
43,300
-53,997
-55% -$165K
FLO icon
2222
Flowers Foods
FLO
$1.6B
$110K ﹤0.01%
10,133
-32,169
-76% -$373K
PK icon
2223
Park Hotels & Resorts
PK
$3.01B
$108K ﹤0.01%
10,300
-7,159
-41% -$76.7K
LION icon
2224
Lionsgate Studios
LION
$3.53B
$105K ﹤0.01%
11,553
-7,763
-40% -$55.2K
NFE icon
2225
New Fortress Energy
NFE
$93.8M
$103K ﹤0.01%
90,215
+79,014
+705% +$117K
87 88
89
90 91

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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.