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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
PAYC icon
851
Paycom
PAYC
$10.1B
$6.41M 0.01%
30,776
-6,622
-18% -$1.49M
WYNN icon
852
Wynn Resorts
WYNN
$10.5B
$6.4M 0.01%
49,906
-74
-0.1% -$8.54K
BBU
853
DELISTED
Brookfield Business Partners
BBU
$6.38M 0.01%
+195,562
New +$5.22M
ALB icon
854
Albemarle
ALB
$15.4B
$6.37M 0.01%
78,621
+50
+0.1% +$3.86K
SWK icon
855
Stanley Black & Decker
SWK
$15.4B
$6.35M 0.01%
85,449
-17,767
-17% -$1.3M
WFRD icon
856
Weatherford International
WFRD
$6.6B
$6.35M 0.01%
92,780
-157
-0.2% -$9.33K
NLY icon
857
Annaly Capital Management
NLY
$17.6B
$6.35M 0.01%
314,027
-9,942
-3% -$206K
RUSHA icon
858
Rush Enterprises Class A
RUSHA
$9.62B
$6.34M 0.01%
118,581
-14,561
-11% -$810K
IONS icon
859
Ionis Pharmaceuticals
IONS
$9.28B
$6.34M 0.01%
96,837
+143
+0.1% +$6.98K
RITM icon
860
Rithm Capital
RITM
$5.79B
$6.33M 0.01%
555,751
-7,301
-1% -$88.5K
OC icon
861
Owens Corning
OC
$12.3B
$6.32M 0.01%
44,691
-1,684
-4% -$247K
IONQ icon
862
IonQ
IONQ
$18.2B
$6.32M 0.01%
102,686
+42,348
+70% +$1.99M
APA icon
863
APA Corp
APA
$14B
$6.31M 0.01%
259,811
-98
-0% -$2.07K
AOS icon
864
A.O. Smith
AOS
$8.49B
$6.23M 0.01%
84,868
-32,696
-28% -$2.33M
KNSL icon
865
Kinsale Capital Group
KNSL
$8.59B
$6.21M 0.01%
14,602
+7
+0% +$3.17K
LNTH icon
866
Lantheus
LNTH
$6.59B
$6.19M 0.01%
120,774
-5,625
-4% -$352K
NMRK icon
867
Newmark Group
NMRK
$2.77B
$6.17M 0.01%
330,803
-4,286
-1% -$69.6K
UHS icon
868
Universal Health Services
UHS
$10.1B
$6.17M 0.01%
30,163
-8,296
-22% -$1.49M
ASTS icon
869
AST SpaceMobile
ASTS
$21.4B
$6.13M 0.01%
124,917
+61,715
+98% +$2.97M
CROX icon
870
Crocs
CROX
$6.36B
$6.11M 0.01%
73,180
+26,253
+56% +$2.4M
BMRN icon
871
BioMarin Pharmaceuticals
BMRN
$13.3B
$6.08M 0.01%
112,209
-7,788
-6% -$445K
AES icon
872
AES
AES
$10.5B
$6.06M 0.01%
460,835
+151
+0% +$1.96K
AAON icon
873
Aaon
AAON
$7.23B
$6.06M 0.01%
64,827
+108
+0.2% +$8.85K
SNX icon
874
TD Synnex
SNX
$20.4B
$6.05M 0.01%
36,971
+14,177
+62% +$2.09M
PAYO icon
875
Payoneer
PAYO
$2.42B
$6.05M 0.01%
1,000,625
-12,115
-1% -$81.2K
33 34
35
36 37

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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.