STATE OF WISCONSIN INVESTMENT BOARD

CIK

854157

Location

MADISON, WI

Portfolio Value

Large $37,449,712,008

Diversification

Diversified

Filing Date

Global Rank

#182 / 8,616 ▼ 3 · as of Mar 2026

Top Industry

Semiconductors 10.8%

3Y Alpha vs SPY

-3.2%

Period ended 4 months ago

Filed May 15, 2026 · 2mo

25 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+60.0%

SPY

+72.4%

Annualised alpha

-2.9%

Max drawdown

−19.5%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

2,304 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

6.1%

−0.1 pts

Top 5

20.5%

−1.5 pts

Top 10

28.0%

−2.3 pts

HHI

121

Diversified−14

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Technology	29.3%	$10,991,404,610	332
Financial Services	13.3%	$4,987,331,426	371
Healthcare	10.3%	$3,847,215,776	369
Industrials	10.3%	$3,841,414,426	334
Consumer Cyclical	10.1%	$3,783,742,266	250
Communication Services	8.0%	$2,994,177,257	85
Consumer Defensive	5.0%	$1,874,451,382	97
Energy	5.0%	$1,858,080,261	106
Utilities	3.1%	$1,159,812,046	75
Real Estate	2.8%	$1,030,212,717	153
Basic Materials	2.7%	$1,010,604,704	127
Unclassified	0.2%	$71,265,137	5

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
UAA	Under Armour, Inc.	+2,746,055	2,906,584	$17,177,911
WBD	Warner Bros. Discovery, Inc.	+779,800	2,138,734	$58,729,635
AES	Aes Corp	+610,602	1,070,750	$15,086,867
CDE	Coeur Mining, Inc.	+498,764	741,805	$13,923,679
PCG	PG&E Corp	+468,959	1,621,861	$28,496,097
PAA	Plains All American Pipeline LP	+432,710	785,079	$17,530,814
NVDA	Nvidia Corp	+424,557	13,031,252	$2,272,650,348
IRWD	Ironwood Pharmaceuticals Inc	+418,119	598,159	$2,099,538
CNNE	Cannae Holdings, Inc.	+345,475	1,161,393	$13,205,038
RITM	Rithm Capital Corp.	+304,588	1,385,741	$13,136,824
GEN	Gen Digital Inc.	+284,296	629,856	$11,860,188
IAG	Iamgold Corp	+282,282	297,070	$5,590,857
WLTH	Wealthfront Corp	+272,561	322,561	$2,983,689
CMG	Chipotle Mexican Grill Inc	+245,919	987,210	$31,600,592
DCH	Dauch Corp	+242,110	267,764	$1,587,840
NWSA	News Corp	+233,610	7,598,974	$189,442,421
GT	Goodyear Tire & Rubber Co /Oh/	+228,338	576,745	$3,823,819
AAPL	Apple Inc.	+194,772	7,905,859	$2,006,427,955
NWE	NorthWestern Energy Group, Inc.	+191,629	225,250	$14,852,985
DBI	Designer Brands Inc.	+185,301	296,801	$1,688,797
AMZN	Amazon Com Inc	+183,255	5,170,390	$1,076,837,125
TTD	Trade Desk, Inc.	+180,381	411,178	$9,329,628
SOFI	SoFi Technologies, Inc.	+174,791	778,194	$12,357,720
IBRX	ImmunityBio, Inc.	+168,810	252,348	$1,935,509
GRAB	Grab Holdings Ltd	+166,800	1,097,200	$4,015,752
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
BIPH	Brookfield Infrastructure Partners L.P.	−1,185,908	1,406,431	$50,800,287
BEP	Brookfield Renewable Partners L.P.	−646,802	4,220,282	$137,750,004
CTRA	Coterra Energy Inc.	−430,267	413,556	$14,532,357
STNE	StoneCo Ltd.	−426,413	22,147	$312,715
EMF	Templeton Emerging Markets Fund	−356,525	650,000	$11,368,500
DBRG	DigitalBridge Group, Inc.	−337,206	17,834	$275,000
ACI	Albertsons Companies, Inc.	−287,801	620,282	$10,569,605
LBRDA	Liberty Broadband Corp	−287,443	231,627	$11,632,307
NAGE	Niagen Bioscience, Inc.	−224,067	103,798	$457,749
GTN	Gray Media, Inc	−222,100	213,899	$928,321
BANC	Banc Of California, Inc.	−221,086	612,176	$10,762,054
HBAN	Huntington Bancshares Inc /Md/	−218,352	1,443,955	$22,597,895
HPQ	Hp Inc	−203,010	491,677	$9,445,115
ECVT	Ecovyst Inc.	−196,813	338,599	$4,354,383
BTE	Baytex Energy Corp.	−190,497	4,653,401	$20,800,702
COTY	Coty Inc.	−186,142	34,766	$69,879
GIL	Gildan Activewear Inc.	−183,309	200,556	$11,160,941
GPK	Graphic Packaging Holding Co	−176,425	291,696	$2,899,458
MICC	Magnum Ice Cream Co N.V.	−174,313	154,496	$2,309,715
AXTA	Axalta Coating Systems Ltd.	−170,414	36,282	$1,005,011
OII	Oceaneering International Inc	−149,135	112,318	$3,983,919
CPRI	Capri Holdings Ltd	−143,790	48,190	$849,107
PWP	Perella Weinberg Partners	−143,362	445,695	$8,093,821
XPOF	Xponential Fitness, Inc.	−140,467	315,437	$1,898,930
PAGS	PagSeguro Digital Ltd.	−135,100	26,632	$266,852
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
AZN	Astrazeneca PLC	498,704	$98,354,402
AMCR	Amcor plc	500,089	$19,878,537
PNFP	Pinnacle Financial Partners, Inc.	144,912	$12,482,719
SUNB	Sunbelt Rentals Holdings, Inc.	131,325	$8,547,944
ZIM	ZIM Integrated Shipping Services Ltd.	249,821	$6,582,783
IREN	IREN Ltd	171,197	$5,868,633
BBUC	Brookfield Business Corp	156,901	$4,964,347
SII	Sprott Inc.	30,314	$4,331,870
UNF	Unifirst Corp	15,285	$3,845,553
OFRM	Once Upon a Farm, PBC	145,400	$2,377,290
SXI	Standex International Corp/De/	8,981	$2,288,897
REAL	TheRealReal, Inc.	234,868	$2,132,601
INDV	Indivior Pharmaceuticals, Inc.	68,065	$2,074,621
AAOI	Applied Optoelectronics, Inc.	22,219	$1,879,505
HP	Helmerich & Payne, Inc.	48,079	$1,732,286
CBRL	Cracker Barrel Old Country Store, Inc	60,920	$1,712,461
FPS	Forgent Power Solutions, Inc.	55,500	$1,624,485
ERAS	Erasca, Inc.	98,609	$1,595,493
XMTR	Xometry, Inc.	38,953	$1,590,840
VICR	Vicor Corp	9,477	$1,525,797
LGN	Legence Corp.	25,810	$1,457,232
TEX	Terex Corp	23,649	$1,397,655
PLUS	Eplus Inc	17,322	$1,303,480
ITHA	ITHAX Acquisition Corp III	130,000	$1,287,000
CPNG	Coupang, Inc.	64,640	$1,220,403
No positions match the current search.

Sold Out

Positions the filer fully exited

25 positions

Ticker	Company	Shares	Value
ZG	Zillow Group, Inc.	595,214	$40,611,451
SLV	iShares Silver Trust	400,000	$25,768,000
EXAS	EXACT SCIENCES CORP	63,358	$6,434,638
CGNT	Cognyte Software Ltd.	517,115	$4,860,881
MAN	ManpowerGroup Inc.	88,621	$2,634,702
BIRK	Birkenstock Holding plc	50,683	$2,072,934
ICHR	Ichor Holdings, Ltd.	111,669	$2,058,059
NVO	Novo Nordisk A S	40,000	$2,035,200
CVI	Cvr Energy Inc	78,039	$1,985,312
CABO	Cable One, Inc.	16,810	$1,897,008
FIG	Figma, Inc.	47,913	$1,790,508
TGLS	Tecnoglass Inc.	34,375	$1,729,750
ELME	Elme Communities	96,325	$1,676,055
BHE	Benchmark Electronics Inc	34,788	$1,487,534
SNCY	Sun Country Airlines Holdings, LLC	102,228	$1,471,060
HZO	Marinemax Inc	46,524	$1,127,276
KOPN	Kopin Corp	450,000	$1,053,000
AMN	Amn Healthcare Services Inc	62,309	$981,989
EVH	Evolent Health, Inc.	238,582	$954,328
SPT	Sprout Social, Inc.	80,460	$906,784
RBBN	Ribbon Communications Inc.	310,366	$893,854
MTUS	Metallus Inc.	49,872	$855,803
AHRT	AH Realty Trust, Inc.	128,757	$852,371
FOXF	Fox Factory Holding Corp	49,568	$848,108
CNMD	CONMED Corp	19,799	$803,839
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

2,304 positions · $37,449,712,008 total · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 2,304 positions by value · page 1 of 47

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
NVDA	Nvidia Corp Technology	Added	13,031,252	+424,557	$2,272,650,348	−3.3%	6.07%
AAPL	Apple Inc. Technology	Added	7,905,859	+194,772	$2,006,427,955	−4.3%	5.36%
MSFT	Microsoft Corp Technology	Added	3,801,033	+131,406	$1,407,028,385	−20.7%	3.76%
AMZN	Amazon Com Inc Consumer Cyclical	Added	5,170,390	+183,255	$1,076,837,125	−6.5%	2.88%
GOOGL	Alphabet Inc. Communication Services	Added	3,128,058	+103,646	$899,504,358	−5.0%	2.40%
AVGO	Broadcom Inc. Technology	Added	2,456,462	+77,887	$760,299,553	−7.6%	2.03%
META	Meta Platforms, Inc. Communication Services	Added	1,167,125	+42,683	$667,747,226	−10.0%	1.78%
TSLA	Tesla, Inc. Consumer Cyclical	Added	1,514,635	+47,825	$563,065,561	−14.6%	1.50%
JPM	Jpmorgan Chase & Co Financial Services	Added	1,457,420	+26,119	$428,714,667	−7.0%	1.14%
LLY	ELI LILLY & Co Healthcare	Added	431,162	+14,444	$396,569,872	−11.4%	1.06%
XOM	ExxonMobil Holdings Corp Energy	Added	2,257,774	+49,210	$383,053,936	+44.1%	1.02%
BRK-B	Berkshire Hathaway Inc Financial Services	Added	743,054	+22,287	$356,071,476	−1.7%	0.95%
JNJ	Johnson & Johnson Healthcare	Added	1,295,189	+42,219	$316,595,999	+22.1%	0.85%
WMT	Walmart Inc. Consumer Defensive	Added	2,347,437	+75,160	$291,739,470	+15.2%	0.78%
V	Visa Inc. Financial Services	Added	910,168	+30,100	$275,089,176	−10.9%	0.73%
COST	Costco Wholesale Corp /New Consumer Defensive	Added	240,394	+8,151	$239,535,793	+19.6%	0.64%
MA	Mastercard Inc Financial Services	Added	461,128	+13,443	$230,407,216	−9.8%	0.62%
NFLX	Netflix Inc Communication Services	Added	2,364,025	+118,911	$227,301,003	+8.0%	0.61%
CVX	Chevron Corp Energy	Added	1,025,556	+27,103	$212,187,536	+39.4%	0.57%
ABBV	AbbVie Inc. Healthcare	Added	950,731	+31,308	$206,774,485	−1.6%	0.55%
MU	Micron Technology Inc Technology	Added	602,703	+21,072	$203,617,181	+22.7%	0.54%
NWSA	News Corp Communication Services	Added	7,598,974	+233,610	$189,442,421	−1.5%	0.51%
PG	PROCTER & GAMBLE Co Consumer Defensive	Added	1,251,132	+38,306	$180,713,506	+4.0%	0.48%
PLTR	Palantir Technologies Inc. Technology	Added	1,232,702	+43,100	$180,319,648	−14.7%	0.48%
CAT	Caterpillar Inc Industrials	Added	253,869	+8,211	$179,856,031	+27.8%	0.48%
BAC	Bank Of America Corp /De/ Financial Services	Reduced	3,685,260	-13,956	$179,656,425	−11.7%	0.48%
AMD	Advanced Micro Devices Inc Technology	Added	876,033	+35,050	$178,211,393	−1.1%	0.48%
HD	Home Depot, Inc. Consumer Cyclical	Added	533,399	+17,360	$175,429,597	−1.2%	0.47%
CSCO	Cisco Systems, Inc. Technology	Added	2,205,020	+130,900	$171,087,501	+7.1%	0.46%
GE	General Electric Co Industrials	Added	589,715	+18,969	$167,343,425	−4.8%	0.45%
KO	Coca Cola Co Consumer Defensive	Added	2,189,290	+69,548	$166,495,504	+12.4%	0.44%
MRK	Merck & Co., Inc. Healthcare	Added	1,366,001	+71,905	$164,316,260	+20.6%	0.44%
LRCX	Lam Research Corp Technology	Added	714,596	+28,652	$152,680,581	+30.0%	0.41%
AMAT	Applied Materials Inc /De Technology	Added	430,459	+12,452	$147,126,581	+37.0%	0.39%
RTX	RTX Corp Industrials	Added	727,412	+12,343	$140,317,774	+7.0%	0.37%
PM	Philip Morris International Inc. Consumer Defensive	Added	840,288	+27,180	$138,933,217	+6.5%	0.37%
BEP	Brookfield Renewable Partners L.P. Utilities	Reduced	4,220,282	-646,802	$137,750,004	+4.9%	0.37%
GS	Goldman Sachs Group Inc Financial Services	Added	161,721	+3,193	$136,814,348	−1.8%	0.37%
ORCL	Oracle Corp Technology	Added	925,709	+37,312	$136,181,050	−21.4%	0.36%
GEV	GE Vernova Inc. Industrials	Added	155,445	+8,303	$135,687,940	+41.1%	0.36%
WFC	Wells Fargo & Company/Mn Financial Services	Added	1,680,343	+21,233	$133,772,106	−13.5%	0.36%
UNH	Unitedhealth Group Inc Healthcare	Added	485,072	+15,790	$131,255,632	−15.3%	0.35%
LIN	Linde PLC Basic Materials	Added	252,154	+6,295	$125,007,867	+19.2%	0.33%
IBM	International Business Machines Corp Technology	Added	506,576	+17,235	$122,788,956	−15.3%	0.33%
MCD	Mcdonalds Corp Consumer Cyclical	Added	381,367	+11,607	$118,525,049	+4.9%	0.32%
T	At&T Inc. Communication Services	Added	3,968,995	+69,916	$115,061,165	+18.8%	0.31%
INTC	Intel Corp Technology	Reduced	2,584,354	-85,790	$114,047,542	+15.8%	0.30%
PEP	Pepsico Inc Consumer Defensive	Added	732,192	+16,268	$113,702,095	+10.7%	0.30%
VZ	Verizon Communications Inc Communication Services	Added	2,257,928	+73,206	$113,347,985	+27.4%	0.30%
MS	Morgan Stanley Financial Services	Added	687,619	+36,558	$113,161,458	−2.1%	0.30%