STATE OF WISCONSIN INVESTMENT BOARD

CIK 0000854157 · Q2 2026

13F Equity AUM

$49.6B

+13.4% QoQ

Positions

2,509

+33 QoQ

AUM Rank

#182

Top 2%

Skill Alpha (FF)

-0.4%/yr^ns

No Clear Edge

Rank #3,307 · Top 40%

vs S&P -1.2%/yr (unadj.)

Quarters Tracked

~5 years

Portfolio Concentration

Top 5: 18.1%Top 10: 27.1%Top 20: 36.4%

NVDA5.0%

AAPL4.6%

RSP3.2%

MSFT2.8%

AMZN2.5%

GOOGL2.2%

GOOG2.2%

AVGO1.8%

MU1.4%

META1.3%

Others (2499)72.9%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Technology29.1%

Financial Services18.2%

Communication Services9.6%

Healthcare8.3%

Consumer Cyclical8.2%

Industrials8.1%

Energy3.6%

Consumer Defensive3.4%

Other11.5%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 2509Median: 0.01%Avg: 0.04%

0–0.5%

2479(57.8%)

0.5–1%

16(10.7%)

1–3%

11(18.8%)

3–5%

3(12.8%)

5%+

0(0.0%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 0Unique: 2,509vs 20 funds

0%Low

2,509

Fund positions

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

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Position Changes This Quarter

New221Increased1024Decreased1237Exited182

New Positions

HONEYWELL AEROSPACE …0.1%

+170K

HONEYWELL INTL INC0.1%

+170K

CARNIVAL CORP LTD0.0%

+682K

SPACE EXPLORATION TE…0.0%

+92K

XRT0.0%

+179K

DUPONT DE NEMOURS IN…0.0%

+96K

FEDEX FGHT HLDG CO I…0.0%

+80K

UBER TECHNOLOGIES IN…0.0%

+4.0M

RUBRIK INC.0.0%

+4.0M

MAKEMYTRIP LIMITED M…0.0%

+4.0M

Increased

BKLN0.6%

+9.6M(+207%)

PJX0.3%

+7.9M(+675%)

Z0.2%

+1.5M(+71%)

FOUR 0.5 08/01/270.0%

+1.0M(+33%)

CLSK 0 06/15/300.0%

+1.0M(+33%)

MSTR 0 12/01/290.0%

+1.0M(+33%)

INTEGER HLDGS CORP0.0%

+1.0M(+33%)

IRTC 1.5 09/01/290.0%

+1.0M(+33%)

WEC 4.375 06/01/270.0%

+1.0M(+33%)

ON 0.5 03/01/290.0%

+1.0M(+33%)

Decreased

BEPC0.1%

-2,264,859(-54%)

BIP0.0%

-1,113,075(-79%)

ARKK0.3%

-1,104,487(-37%)

NVDA5.0%

-702,263(-5%)

KDP0.1%

-418,509(-26%)

ORGO0.0%

-371,617(-81%)

CAE0.0%

-296,500(-77%)

PAYO0.0%

-289,282(-30%)

GEN0.0%

-281,248(-45%)

GT0.0%

-279,465(-48%)

Exited

-339,986

-580,000

-1,105,495

-325,000

-324,000

-628,059

-128,000

-283,335

CTRA

-413,556

HOLX

-129,901

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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