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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
CPRI icon
1026
Capri Holdings
CPRI
$1.77B
$3.99M 0.01%
200,124
+121,626
+155% +$2.44M
PCRX icon
1027
Pacira BioSciences
PCRX
$924M
$3.98M 0.01%
154,587
+20,857
+16% +$512K
NE icon
1028
Noble Corp
NE
$7.04B
$3.97M 0.01%
140,454
+326
+0.2% +$9.23K
LBTYK icon
1029
Liberty Global Class C
LBTYK
$3.46B
$3.96M 0.01%
337,268
+175,715
+109% +$1.97M
UEC icon
1030
Uranium Energy
UEC
$5.54B
$3.95M 0.01%
296,024
-646,140
-69% -$6.47M
GNTX icon
1031
Gentex
GNTX
$4.93B
$3.93M 0.01%
139,029
-88,463
-39% -$2.35M
OCFC icon
1032
OceanFirst Financial
OCFC
$1.85B
$3.92M 0.01%
223,291
– –
HRB icon
1033
H&R Block
HRB
$6.87B
$3.91M 0.01%
77,256
-1,587
-2% -$83.9K
AII
1034
American Integrity Insurance
AII
$449M
$3.9M 0.01%
175,000
– –
W icon
1035
Wayfair
W
$13.9B
$3.9M 0.01%
43,673
+190
+0.4% +$13.9K
DBX icon
1036
Dropbox
DBX
$7.31B
$3.89M 0.01%
128,679
-437
-0.3% -$12.5K
FOLD
1037
DELISTED
Amicus Therapeutics
FOLD
$3.88M 0.01%
491,946
-12,182
-2% -$86.7K
GLXY
1038
Galaxy Digital Inc
GLXY
$4.07B
$3.85M 0.01%
+113,856
New +$3.07M
INDB icon
1039
Independent Bank
INDB
$4.05B
$3.83M 0.01%
55,367
+520
+0.9% +$35.3K
MUSA icon
1040
Murphy USA
MUSA
$10.1B
$3.81M 0.01%
9,819
+8
+0.1% +$3.17K
HURN icon
1041
Huron Consulting
HURN
$2.39B
$3.78M 0.01%
25,773
+24,096
+1,437% +$3.29M
CGNX icon
1042
Cognex
CGNX
$10.4B
$3.76M 0.01%
83,102
-40
-0% -$1.62K
RGLD icon
1043
Royal Gold
RGLD
$19.1B
$3.76M 0.01%
18,734
+5,373
+40% +$929K
ACHC icon
1044
Acadia Healthcare
ACHC
$2.95B
$3.75M 0.01%
151,468
-8,230
-5% -$184K
CENX icon
1045
Century Aluminum
CENX
$4.59B
$3.75M 0.01%
127,700
-75,888
-37% -$1.72M
BFH icon
1046
Bread Financial
BFH
$4.46B
$3.74M 0.01%
67,089
-3,223
-5% -$199K
CVLT icon
1047
Commault Systems
CVLT
$6.26B
$3.73M 0.01%
19,761
+107
+0.5% +$19.3K
TREX icon
1048
Trex
TREX
$5.05B
$3.7M 0.01%
71,574
+79
+0.1% +$4.81K
FYBR
1049
DELISTED
Frontier Communications
FYBR
$3.69M 0.01%
98,844
-209,048
-68% -$7.73M
COMP icon
1050
Compass
COMP
$10.2B
$3.69M 0.01%
459,449
+15,577
+4% +$126K
40 41
42
43 44

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LP
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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.