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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
NVDA icon
1
NVIDIA
NVDA
$5.26T
$2.35B 5.26%
12,606,695
-543,617
-4% -$101M
AAPL icon
2
Apple
AAPL
$4.46T
$2.1B 4.69%
7,711,087
-417,587
-5% -$112M
MSFT icon
3
Microsoft
MSFT
$3.73T
$1.77B 3.97%
3,669,627
-161,229
-4% -$80.8M
RSP icon
4
Invesco S&P 500 Equal Weight ETF
RSP
$99.4B
$1.63B 3.63%
8,485,519
+1,060,181
+14% +$201M
AMZN icon
5
Amazon
AMZN
$2.94T
$1.15B 2.57%
4,987,135
-173,836
-3% -$39.8M
GOOGL icon
6
Alphabet (Google) Class A
GOOGL
$4.24T
$947M 2.12%
3,024,412
-121,685
-4% -$34.8M
AVGO icon
7
Broadcom
AVGO
$1.99T
$823M 1.84%
2,378,575
-84,647
-3% -$30.3M
GOOG icon
8
Alphabet (Google) Class C
GOOG
$4.23T
$796M 1.78%
2,536,050
-109,213
-4% -$31.3M
META icon
9
Meta Platforms (Facebook)
META
$1.54T
$742M 1.66%
1,124,442
-51,157
-4% -$34.2M
TSLA icon
10
Tesla
TSLA
$1.31T
$660M 1.47%
1,466,810
-61,034
-4% -$27.1M
FOX icon
11
Fox Class B
FOX
$23.1B
$505M 1.13%
7,775,600
+462,755
+6% +$27M
BRK.A icon
12
Berkshire Hathaway Class A
BRK.A
$1.11T
$467M 1.04%
619
+49
+9% +$36.6M
JPM icon
13
JPMorgan Chase
JPM
$963B
$461M 1.03%
1,431,301
-43,451
-3% -$13.5M
LLY icon
14
Eli Lilly
LLY
$1.09T
$448M 1%
416,718
-15,106
-3% -$14.4M
HAPI icon
15
Harbor Human Capital Factor US Large Cap ETF
HAPI
$507M
$405M 0.91%
9,871,200
– –
BRK.B icon
16
Berkshire Hathaway Class B
BRK.B
$1.11T
$362M 0.81%
720,767
+5,860
+0.8% +$2.92M
V icon
17
Visa
V
$678B
$309M 0.69%
880,068
-48,766
-5% -$16.6M
XOM icon
18
ExxonMobil
XOM
$658B
$266M 0.59%
2,208,564
-57,401
-3% -$6.66M
JNJ icon
19
Johnson & Johnson
JNJ
$625B
$259M 0.58%
1,252,970
-33,474
-3% -$6.62M
ISTB icon
20
iShares Core 1-5 Year USD Bond ETF
ISTB
$5.12B
$259M 0.58%
5,312,625
+71,400
+1% +$3.48M
MA icon
21
Mastercard
MA
$494B
$256M 0.57%
447,685
-25,552
-5% -$14.3M
WMT icon
22
Walmart Inc
WMT
$895B
$253M 0.57%
2,272,277
-62,367
-3% -$6.7M
HEI.A icon
23
HEICO Corp Class A
HEI.A
$36.9B
$251M 0.56%
993,940
+107,581
+12% +$26.6M
ARKK icon
24
ARK Innovation ETF
ARKK
$6.37B
$216M 0.48%
2,804,342
+38
+0% +$3.15K
PLTR icon
25
Palantir
PLTR
$423B
$211M 0.47%
1,189,602
-6,750
-0.6% -$1.22M
1
2 3 4 5

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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.