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Asset Manager ← All Institutions

STATE OF WISCONSIN INVESTMENT BOARD

Q4 2025 · Filed 2026-02-17
Market Value
$43.7B
+2.3%
Holdings
2,421
+27
New Purchases
210
Added To
750
Closed
239
Reduced
1,184
Top 10 Concentration
29.7%
Turnover
18.5%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
RSP 3.72% 3.30% +0.42% $1.6B
GOOGL 2.17% 1.79% +0.38% $947M
GOOG 1.82% 1.51% +0.31% $796M
LLY 1.03% 0.77% +0.25% $448M
RY 0.20% 0.00% +0.20% $88M
FOX 1.16% 0.98% +0.17% $505M
BEP 0.30% 0.13% +0.17% $131M
SHOP 0.16% 0.00% +0.16% $71M
BKLN 0.15% 0.00% +0.15% $67M
MU 0.38% 0.23% +0.15% $166M
BIP 0.21% 0.06% +0.14% $90M
TD 0.14% 0.00% +0.14% $60M
UBS 0.13% 0.00% +0.13% $59M
JAAA 0.12% 0.00% +0.12% $51M
TOTB.DE 0.10% 0.00% +0.10% $45M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
MSFT 4.06% 4.65% -0.58% $1.8B
NVDA 5.38% 5.75% -0.36% $2.4B
META 1.70% 2.02% -0.32% $742M
ZG 0.09% 0.35% -0.26% $41M
ORCL 0.40% 0.59% -0.19% $173M
NFLX 0.48% 0.66% -0.17% $211M
HD 0.41% 0.50% -0.09% $178M
TSLA 1.51% 1.59% -0.08% $660M
LBRDA 0.06% 0.14% -0.08% $25M
ARKK 0.49% 0.57% -0.07% $216M
NWSA 0.44% 0.51% -0.07% $192M
PG 0.40% 0.46% -0.06% $174M
UBER 0.19% 0.25% -0.06% $85M
ASHR 0.00% 0.06% -0.06% $0
MSTR 0.05% 0.10% -0.06% $20M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 62 $19.9B 45.5%
Large Cap 742 $18.6B 42.7%
Mid Cap 883 $3.6B 8.3%
Small Cap 634 $1.3B 3.1%
Micro Cap 100 $201M 0.5%

Portfolio Analytics

Avg Market Cap
$37.9B
Median Market Cap
$4.6B
Avg P/E
34.0
Median P/E
21.4
Avg Dividend Yield
0.02%
Avg Beta
1.09
# Stocks
2,369
# ETFs / Funds
52

Top Holdings (2,421 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 NVDA 5.38% 12,606,695 $2.4B $186.50 -$102M -543,617 -4.1%
2 AAPL 4.80% 7,711,087 $2.1B $271.86 $27M -417,587 -5.1%
3 MSFT 4.06% 3,669,627 $1.8B $483.62 -$209M -161,229 -4.2%
4 RSP 3.72% 8,485,519 $1.6B $191.56 $217M +1,060,181 +14.3%
5 AMZN 2.64% 4,987,135 $1.2B $230.82 $18M -173,836 -3.4%
6 GOOGL 2.17% 3,024,412 $947M $313.00 $182M -121,685 -3.9%
7 AVGO 1.89% 2,378,575 $823M $346.10 $11M -84,647 -3.4%
8 GOOG 1.82% 2,536,050 $796M $313.80 $152M -109,213 -4.1%
9 META 1.70% 1,124,442 $742M $660.09 -$121M -51,157 -4.3%
10 TSLA 1.51% 1,466,810 $660M $449.72 -$20M -61,034 -4.0%
11 FOX 1.16% 7,775,600 $505M $64.93 $86M +462,755 +6.3%
12 BRK-A 1.07% 619 $467M $754,800.00 $37M +49 +8.6%
13 JPM 1.06% 1,431,301 $461M $322.22 -$4M -43,451 -3.0%
14 LLY 1.03% 416,718 $448M $1,074.68 $118M -15,106 -3.5%
15 HAPI 0.93% 9,871,200 $405M $41.04 $8M
16 BRK-B 0.83% 720,767 $362M $502.65 $3M +5,860 +0.8%
17 V 0.71% 880,068 $309M $350.71 -$8M -48,766 -5.2%
18 XOM 0.61% 2,208,564 $266M $120.34 $10M -57,401 -2.5%
19 JNJ 0.59% 1,252,970 $259M $206.95 $21M -33,474 -2.6%
20 ISTB 0.59% 5,312,625 $259M $48.75 $3M +71,400 +1.4%
21 MA 0.59% 447,685 $256M $570.88 -$14M -25,552 -5.4%
22 WMT 0.58% 2,272,277 $253M $111.41 $13M -62,367 -2.7%
23 HEI-A 0.57% 993,940 $251M $252.43 $26M +107,581 +12.1%
24 ARKK 0.49% 2,804,342 $216M $76.92 -$26M +38
25 PLTR 0.48% 1,189,602 $211M $177.75 -$7M -6,750 -0.6%
26 NFLX 0.48% 2,245,114 $211M $93.76 -$69M +2,011,694 +861.8%
27 ABBV 0.48% 919,423 $210M $228.49 -$6M -15,619 -1.7%
28 BAC 0.47% 3,699,216 $203M $55.00 $767K -229,640 -5.8%
29 COST 0.46% 232,243 $200M $862.34 -$19M -4,643 -2.0%
30 NWSA 0.44% 7,365,364 $192M $26.12 -$25M +275,480 +3.9%
31 AMD 0.41% 840,983 $180M $214.16 $41M -17,740 -2.1%
32 HD 0.41% 516,039 $178M $344.10 -$34M -6,832 -1.3%
33 GE 0.40% 570,746 $176M $308.03 -$9M -43,089 -7.0%
34 PG 0.40% 1,212,826 $174M $143.31 -$22M -60,865 -4.8%
35 ORCL 0.40% 888,397 $173M $194.91 -$77M -2,092 -0.2%
36 MU 0.38% 581,631 $166M $285.41 $68M -6,183 -1.1%
37 CSCO 0.37% 2,074,120 $160M $77.03 $7M -163,893 -7.3%
38 UNH 0.35% 469,282 $155M $330.11 -$11M -10,026 -2.1%
39 WFC 0.35% 1,659,110 $155M $93.20 $13M -34,174 -2.0%
40 CVX 0.35% 998,453 $152M $152.41 -$8M -33,521 -3.2%
41 KO 0.34% 2,119,742 $148M $69.91 $2M -79,026 -3.6%
42 IBM 0.33% 489,341 $145M $296.21 $3M -14,054 -2.8%
43 HAPS 0.32% 4,520,000 $142M $31.39 $428K
44 CAT 0.32% 245,658 $141M $572.87 $20M -6,388 -2.5%
45 GS 0.32% 158,528 $139M $879.00 $9M -4,539 -2.8%
46 EEM 0.32% 2,528,628 $138M $54.71 $3M
47 MRK 0.31% 1,294,096 $136M $105.26 $19M -106,714 -7.6%
48 BEP 0.30% 4,867,084 $131M $26.97 $76M +2,732,542 +128.0%
49 RTX 0.30% 715,069 $131M $183.40 $12M +4,286 +0.6%
50 CRM 0.30% 494,369 $131M $264.91 $7M -29,028 -5.5%
51 PM 0.30% 813,108 $130M $160.40 -$10M -50,074 -5.8%
52 LRCX 0.27% 685,944 $117M $171.18 $24M -9,974 -1.4%
53 0JUJ.L 0.27% 1,301,839 $116M $89.38 -$16M -84,530 -6.1%
54 TMO 0.26% 199,535 $116M $579.45 $17M -3,570 -1.8%
55 MS 0.26% 651,061 $116M $177.53 $10M -13,088 -2.0%
56 C 0.26% 981,921 $115M $116.69 $9M -55,490 -5.3%
57 ABT 0.26% 902,796 $113M $125.29 -$9M -11,039 -1.2%
58 MCD 0.26% 369,760 $113M $305.63 -$1M -6,304 -1.7%
59 AXP 0.26% 302,405 $112M $369.95 $10M -5,359 -1.7%
60 ISRG 0.25% 193,289 $109M $566.36 $21M -4,946 -2.5%
61 IVV 0.25% 158,110 $108M $684.94 $44M +62,525 +65.4%
62 DIS 0.25% 951,365 $108M $113.77 -$4M -30,006 -3.1%
63 AMAT 0.25% 418,007 $107M $256.99 $20M -10,904 -2.5%
64 LIN 0.24% 245,859 $105M $426.39 -$14M -4,629 -1.9%
65 PEP 0.24% 715,924 $103M $143.52 -$57K -16,108 -2.2%
66 INTC 0.23% 2,670,144 $99M $36.90 $22M +377,070 +16.4%
67 T 0.22% 3,899,079 $97M $24.84 -$22M -314,021 -7.5%
68 GEV 0.22% 147,142 $96M $653.57 -$631K -10,279 -6.5%
69 INTU 0.22% 144,465 $96M $662.42 -$8M -6,791 -4.5%
70 QCOM 0.22% 556,143 $95M $171.05 -$706K -19,922 -3.5%
71 AMGN 0.21% 278,964 $91M $327.31 $11M -3,931 -1.4%
72 SCHW 0.21% 911,566 $91M $99.91 -$5M -95,008 -9.4%
73 BIP 0.21% 2,592,339 $90M $34.74 $63M +1,762,436 +212.4%
74 TJX 0.21% 585,891 $90M $153.61 $2M -23,090 -3.8%
75 BKNG 0.21% 16,789 $90M $5,355.33 -$2M -321 -1.9%
76 VZ 0.20% 2,184,722 $89M $40.73 -$11M -79,875 -3.5%
77 KLAC 0.20% 72,746 $88M $1,215.08 $11M +1,316 +1.8%
78 ACN 0.20% 329,399 $88M $268.30 $5M -6,779 -2.0%
79 RY 0.20% 513,881 $88M $170.70 +513,881 NEW
80 BA 0.20% 403,742 $88M $217.12 $519K -10
81 SPGI 0.20% 166,066 $87M $522.59 -$4M -19,646 -10.6%
82 NEE 0.20% 1,080,395 $87M $80.28 $3M -26,978 -2.4%
83 APP 0.20% 127,513 $86M $673.82 -$8M -2,934 -2.2%
84 APH 0.20% 632,749 $86M $135.14 $5M -20,764 -3.2%
85 UBER 0.19% 1,038,122 $85M $81.71 -$23M -66,724 -6.0%
86 TXN 0.19% 478,155 $83M $173.49 -$6M -6,871 -1.4%
87 NOW 0.19% 538,803 $83M $153.19 -$23M +424,429 +371.1%
88 BLK 0.19% 76,321 $82M $1,070.34 -$10M -2,259 -2.9%
89 GILD 0.19% 661,095 $81M $122.74 $5M -24,380 -3.6%
90 COF 0.19% 334,180 $81M $242.36 $2M -38,339 -10.3%
91 DHR 0.18% 336,576 $77M $228.92 $9M -5,599 -1.6%
92 ADBE 0.17% 216,885 $76M $349.99 -$4M -10,515 -4.6%
93 PFE 0.17% 2,974,689 $74M $24.90 -$3M -56,186 -1.9%
94 BSX 0.17% 767,854 $73M $95.35 -$9M -73,676 -8.8%
95 ANET 0.17% 553,065 $72M $131.03 -$14M -38,254 -6.5%
96 UNP 0.16% 307,348 $71M $231.32 -$3M -6,736 -2.1%
97 SHOP 0.16% 439,830 $71M $161.23 +439,830 NEW
98 ADI 0.16% 259,889 $70M $271.20 $5M -4,647 -1.8%
99 LOW 0.16% 290,546 $70M $241.16 -$7M -15,484 -5.1%
100 PGR 0.16% 305,930 $70M $227.72 -$8M -8,232 -2.6%

Options Breakdown

2 Calls $129M Call Value 2 Puts $26M Put Value 0.2 P/C Ratio

Top Calls

SymbolSharesValueStatus
KWEB 2,000,000 $68M NEW
ASHR 1,840,900 $60M NEW

Top Puts

SymbolSharesValueStatus
SLV 400,000 $26M NEW
ARKK $0 SOLD

New Positions

SymbolValue% Port
RY $88M 0.20%
SHOP $71M 0.16%
BKLN $67M 0.15%
TD $60M 0.14%
UBS $59M 0.13%
JAAA $51M 0.12%
TOTB.DE $45M 0.10%
ENB $37M 0.08%
BNS $35M 0.08%
BMO $34M 0.08%
AEM $33M 0.08%
BN $33M 0.08%
CM $32M 0.07%
DB $30M 0.07%
B $27M 0.06%

Sold Out Positions

SymbolValue% Port
ORC —%
HNI —%
KAI —%
BCH —%
NOG —%
PRSU —%
AMPX —%
AKR —%
FCF —%
TDW —%
EPAC —%
WGO —%
CBU —%
UVV —%
VIV —%
View SEC EDGAR Filings for STATE OF WISCONSIN INVESTMENT BOARD →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms