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State of Wisconsin Investment Board

State of Wisconsin Investment Board Portfolio holdings

AUM $43.7B
1-Year Est. Return 27.76%
This Fund
S&P 500
This Quarter Est. Return
+9.63%
1 Year Est. Return
+27.76%
3 Year Est. Return
+95.56%
5 Year Est. Return
+123.77%
10 Year Est. Return
+486.44%
AUM
$43.6B
AUM Growth
+$2.64B
Cap. Flow
-$296M
Cap. Flow %
-0.68%
Top 10 Hldgs %
29.38%
Holding
2,561
New
248
Increased
889
Reduced
1,164
Closed
195

Top Buys

Rank Stock Value
1
RSP icon
Invesco S&P 500 Equal Weight ETF
RSP
+$108M
2
BRK.A icon
Berkshire Hathaway Class A
BRK.A
+$88M
3
ZG icon
Zillow
ZG
+$57.7M
4
BEP icon
Brookfield Renewable
BEP
+$55M
5
FOX icon
Fox Class B
FOX
+$45.1M

Top Sells

Rank Stock Value
1
AAPL icon
Apple
AAPL
+$53.8M
2
NVDA icon
NVIDIA
NVDA
+$52.1M
3
HES
Hess
HES
+$43.8M
4
MSFT icon
Microsoft
MSFT
+$41.6M
5
XHB icon
State Street SPDR S&P Homebuilders ETF
XHB
+$39.4M

Sector Composition

Rank Sector Weight
1 Technology 27.91%
2 Financials 12.67%
3 Communication Services 10.52%
4 Consumer Discretionary 9.45%
5 Industrials 8.62%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
IRTC icon
626
iRhythm Holdings
IRTC
$4.06B
$10.4M 0.02%
60,224
-8,251
-12% -$1.31M
EQH icon
627
Equitable Holdings
EQH
$14.4B
$10.3M 0.02%
202,387
-22,845
-10% -$1.21M
BPOP icon
628
Popular Inc
BPOP
$11.3B
$10.3M 0.02%
80,892
-78
-0.1% -$9.33K
JKHY icon
629
Jack Henry & Associates
JKHY
$11.1B
$10.3M 0.02%
68,924
+1,341
+2% +$223K
BWIN
630
Baldwin Insurance Group
BWIN
$2.99B
$10.2M 0.02%
363,339
-3,523
-1% -$122K
TBBK icon
631
The Bancorp
TBBK
$2.82B
$10.2M 0.02%
136,836
+956
+0.7% +$66.6K
TPB icon
632
Turning Point Brands
TPB
$1.73B
$10.2M 0.02%
103,624
-30,975
-23% -$2.8M
LULU icon
633
lululemon athletica
LULU
$13.6B
$10.2M 0.02%
57,238
-14,236
-20% -$2.85M
MWA icon
634
Mueller Water Products
MWA
$3.98B
$10.1M 0.02%
397,015
+13,645
+4% +$348K
FCNCA icon
635
First Citizens BancShares
FCNCA
$25.6B
$10.1M 0.02%
5,653
+56
+1% +$110K
OHI icon
636
Omega Healthcare
OHI
$13.9B
$10.1M 0.02%
238,965
-2,053
-0.9% -$82.8K
GPC icon
637
Genuine Parts
GPC
$18.7B
$10.1M 0.02%
72,775
+149
+0.2% +$20K
LII icon
638
Lennox International
LII
$14.5B
$10.1M 0.02%
19,018
-638
-3% -$373K
BAX icon
639
Baxter International
BAX
$14B
$10M 0.02%
441,222
+109,383
+33% +$2.77M
RHP icon
640
Ryman Hospitality Properties
RHP
$7.87B
$10M 0.02%
112,131
+4,473
+4% +$437K
ZWS icon
641
Zurn Elkay Water Solutions
ZWS
$8.41B
$10M 0.02%
213,600
-6,893
-3% -$298K
WING icon
642
Wingstop
WING
$3.1B
$10M 0.02%
39,823
+1,965
+5% +$611K
WH icon
643
Wyndham Hotels & Resorts
WH
$5.51B
$10M 0.02%
125,099
-6,377
-5% -$549K
EG icon
644
Everest Group
EG
$14B
$9.99M 0.02%
28,537
+1,816
+7% +$613K
SSD icon
645
Simpson Manufacturing
SSD
$8B
$9.97M 0.02%
59,551
+5,659
+11% +$1.01M
WST icon
646
West Pharmaceutical
WST
$24.4B
$9.94M 0.02%
37,898
-9,927
-21% -$2.41M
PEGA icon
647
Pegasystems
PEGA
$5.51B
$9.93M 0.02%
172,655
-1,079
-0.6% -$59.5K
TXNM
648
TXNM Energy Inc
TXNM
$5.91B
$9.89M 0.02%
174,954
+60,830
+53% +$3.45M
PI icon
649
Impinj
PI
$5.46B
$9.87M 0.02%
54,606
-7,095
-11% -$1.12M
CCEP icon
650
Coca-Cola Europacific Partners
CCEP
$47.5B
$9.86M 0.02%
109,111
+19,900
+22% +$1.85M
24 25
26
27 28

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State of Wisconsin Investment Board's Q3 2025 Portfolio in Review

As of Q3 2025, State of Wisconsin Investment Board held 2,561 positions worth $43.6B, up 6.5% from $41B the previous quarter. Its ten largest holdings account for 29% of the portfolio.

State of Wisconsin Investment Board's Q3 2025 filing shows 248 new, 889 increased, 1,164 reduced and 195 closed positions. Its largest new stake was Brookfield Renewable: 2,134,542 shares worth $55M. The largest sale was Apple, an estimated $53.8M.

By sector, the portfolio is most concentrated in Technology at 28% of assets, up from 27% a quarter earlier, followed by Financials and Communication Services.

  • State of Wisconsin Investment Board's largest Q3 2025 buy was Brookfield Renewable: 2,134,542 shares worth $55M.
  • State of Wisconsin Investment Board added most to Invesco S&P 500 Equal Weight ETF in Q3 2025, an estimated $108M increase.
  • State of Wisconsin Investment Board's biggest Q3 2025 reduction was Apple, cutting an estimated $53.8M.
  • State of Wisconsin Investment Board fully exited Hess in Q3 2025, selling an estimated $43.8M.
  • State of Wisconsin Investment Board's ten largest holdings make up 29% of its $43.6B portfolio in Q3 2025.
  • State of Wisconsin Investment Board opened 248 new positions and closed 195 in Q3 2025.
  • State of Wisconsin Investment Board's portfolio value rose 6.5% quarter-over-quarter to $43.6B.

Based on State of Wisconsin Investment Board's 13F filing for Q3 2025, filed 14 Nov 2025.