STATE OF WISCONSIN INVESTMENT BOARD

Q4 2025 13F-HR Holdings

Location
Madison, WI
Holdings as of
12/31/2025
Date filed
2/17/2026
Form type
13F-HR
Num holdings
2,365
Total value ($000)
$44,740,837
Net value change ($000)
+1,120,304 (2.6%)
New positions
235
Sold out positions
247
Turnover %
3.8%
Sector allocation + QoQ delta (equities-only)
Prev filing: 11/14/2025 Next filing: — SEC filing

Snapshot: Change Analysis

Compared to Q3 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
RSP 216,899 15.4%
GOOGL 181,825 23.8%
GOOGL 151,558 23.5%
LLY 118,357 35.9%
RY 87,721 NEW
FOXA 85,917 20.5%
BEP 76,215 138.4%
SHOP 70,912 NEW
MU 67,650 68.8%
BKLN 66,990 NEW
Top Reduces (Value $000, Stocks/ETFs)
MSFT -209,487 -10.6%
META -121,103 -14.0%
ZG -110,387 -73.1%
NVDA -102,436 -4.2%
ORCL -77,284 -30.9%
NFLX -69,350 -24.8%
HD -34,293 -16.2%
LBRDA -32,594 -56.5%
ARKK -26,301 -10.9%
NWSA -25,347 -11.6%
Instrument mix + QoQ Δ (ex-options)
Derivatives reported exposure ($000): 154,342 (0.3% of total reported value)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type