Latest STATE OF WISCONSIN INVESTMENT BOARD Stock Portfolio

STATE OF WISCONSIN INVESTMENT BOARD Performance:

2025 Q4: 1.7%YTD: 13.8%2024: 22.35%

Performance for 2025 Q4 is 1.7%, and YTD is 13.8%, and 2024 is 22.35%.

About STATE OF WISCONSIN INVESTMENT BOARD and 13F Hedge Fund Stock Holdings

On 2026-02-17, the fund reported it's updated stock portfolio. In the 13F Holdings report, STATE OF WISCONSIN INVESTMENT BOARD reported an equity portfolio of $44.7 Billions as of 31 Dec, 2025.

The top stock holdings of STATE OF WISCONSIN INVESTMENT BOARD are NVDA, AAPL, MSFT. The fund has invested 5.3% of it's portfolio in NVIDIA CORPORATION and 4.7% of portfolio in APPLE INC.

The fund managers got completely rid off PETROLEO BRASILEIRO SA PETRO (PBR), ARM HOLDINGS PLC and ISHARES TR (IBCE) stocks. They significantly reduced their stock positions in CADENCE BANK (CADE), REV GROUP INC (REVG) and CONFLUENT INC (CFLT). STATE OF WISCONSIN INVESTMENT BOARD opened new stock positions in ROYAL BK CDA (RY), SHOPIFY INC (SHOP) and INVESCO EXCH TRADED FD TR II (BAB). The fund showed a lot of confidence in some stocks as they added substantially to AUTONATION INC (AN), UWM HOLDINGS CORPORATION (UWMC) and TRANSMEDICS GROUP INC (TMDX).

STATE OF WISCONSIN INVESTMENT BOARD Annual Return Estimates Vs S&P 500

Our best estimate is that STATE OF WISCONSIN INVESTMENT BOARD made a return of 1.7% in the last quarter. In trailing 12 months, it's portfolio return was 13.8%.

Performance
S&P 500

New Buys

Ticker	$ Bought
royal bk cda	87,720,600
shopify inc	70,911,900
invesco exch traded fd tr ii	66,990,000
toronto dominion bk ont	59,884,800
ubs group ag	58,785,400
janus detroit str tr	50,580,000
totalenergies se	45,475,200
enbridge inc	36,661,500

New stocks bought by STATE OF WISCONSIN INVESTMENT BOARD

Additions

Ticker	% Inc.
brookfield infrast partners	212
gildan activewear inc	191
texas pacific land corporati	169
omnicom group inc	158
comfort sys usa inc	146
brookfield renewable partner	128
ishares tr	65.41
ishares tr	59.15

Additions to existing portfolio by STATE OF WISCONSIN INVESTMENT BOARD

Reductions

Ticker	% Reduced
zillow group inc	-70.66
emcor group inc	-46.12
liberty broadband corp	-42.98
warner bros discovery inc	-34.89
jabil inc	-34.71
central garden & pet co	-32.05
american intl group inc	-29.72
sandisk corp	-26.01

STATE OF WISCONSIN INVESTMENT BOARD reduced stake in above stock

Sold off

None of the stocks were completely sold off by STATE OF WISCONSIN INVESTMENT BOARD

Sector Distribution

STATE OF WISCONSIN INVESTMENT BOARD has about 26.4% of it's holdings in Technology sector.

Sector	%
Technology	26.4
Others	17
Financial Services	9.7
Communication Services	9.3
Consumer Cyclical	8.7
Healthcare	8.3
Industrials	8.2
Consumer Defensive	3.8
Energy	2.7
Real Estate	2.3
Utilities	1.8
Basic Materials	1.5

Market Cap. Distribution

STATE OF WISCONSIN INVESTMENT BOARD has about 75.4% of it's portfolio invested in the large-cap and mega-cap stocks.

Category	%
MEGA-CAP	42
LARGE-CAP	33.4
UNALLOCATED	17
MID-CAP	5.9
SMALL-CAP	1.5

Stocks belong to which Index?

About 73.8% of the stocks held by STATE OF WISCONSIN INVESTMENT BOARD either belong to S&P 500 or RUSSELL 2000 index.

Index	%
S&P 500	67.9
Others	26.1
RUSSELL 2000	5.9

Top 5 Winners (%)		%
TERN	terns pharmaceuticals inc	343.6 %
PRAX	praxis precision medicines i	188.4 %
CAPR	capricor therapeutics inc	176.9 %
COGT	cogent biosciences inc	130.7 %
LITE	lumentum hldgs inc	118.1 %

Top 5 Winners ($)		$
GOOG	alphabet inc	215.7 M
GOOG	alphabet inc	182.0 M
AAPL	apple inc	136.5 M
LLY	eli lilly & co	132.2 M
MU	micron technology inc	69.0 M

Top 5 Losers (%)		%
AIRS	airsculpt technologies inc	-66.1 %
	lenz therapeutics inc	-62.5 %
TPL	texas pacific land corporati	-60.7 %
CORT	corcept therapeutics inc	-57.8 %
	southland hldgs inc	-55.4 %

Top 5 Losers ($)		$
MSFT	microsoft corp	-128.7 M
META	meta platforms inc	-85.4 M
ORCL	oracle corp	-76.8 M
NFLX	netflix inc	-59.8 M
NWS	news corp new	-33.2 M

STATE OF WISCONSIN INVESTMENT BOARD Holdings Map

This heatmap illustrates the top 50 positions within the fund's portfolio.

Current Stock Holdings of STATE OF WISCONSIN INVESTMENT BOARD

STATE OF WISCONSIN INVESTMENT BOARD has 2265 stocks in it's portfolio. About 29% of the portfolio is in top 10 stocks. MSFT proved to be the most loss making stock for the portfolio. GOOG was the most profitable stock for STATE OF WISCONSIN INVESTMENT BOARD last quarter.

Last Reported on: 17 Feb, 2026

Ticker	Namesorted ascending	% Portfolio	Shares Held	$ Value	Type	% Change
A	agilent technologies inc	0.04	148,786	20,245,300	reduced	-8.96

AAPL	apple inc	4.69	7,711,090	2,096,340,000	reduced	-5.14

AAXJ	ishares tr	0.15	607,800	65,101,500	unchanged	0.00

AAXJ	ishares tr	0.12	580,000	55,842,400	unchanged	0.00

ABBV	abbvie inc	0.47	919,423	210,079,000	reduced	-1.67

ABC	cencora inc	0.08	104,892	35,427,300	added	3.72

ABNB	airbnb inc	0.07	224,508	30,470,200	reduced	-2.11

ABT	abbott labs	0.25	902,796	113,111,000	reduced	-1.21

ACGL	arch cap group ltd	0.05	215,521	20,672,800	reduced	-1.89

ACI	albertsons cos inc	0.04	908,083	15,591,800	reduced	-14.09

ACIO	etf ser solutions	0.09	1,378,340	38,690,000	added	3.24

ACN	accenture plc ireland	0.20	329,399	88,377,800	reduced	-2.02

ACWV	ishares inc	0.04	167,800	16,313,500	added	48.76

ADBE	adobe inc	0.17	216,885	75,907,600	reduced	-4.62

ADC	agree rlty corp	0.03	202,315	14,572,700	added	1.77

ADI	analog devices inc	0.16	259,889	70,481,900	reduced	-1.76

ADM	archer daniels midland co	0.04	304,550	17,508,600	reduced	-5.03

ADP	automatic data processing in	0.12	209,887	53,989,200	reduced	-2.59

ADSK	autodesk inc	0.08	121,560	35,983,000	reduced	-6.59

AEE	ameren corp	0.03	146,312	14,610,700	reduced	-2.13