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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
PCVX icon
1151
Vaxcyte
PCVX
$8.76B
$2.76M 0.01%
76,586
-6,988
-8% -$232K
GLIBA
1152
Liberty Capital Corp Series A GCI Group Common Stock
GLIBA
$1.03B
$2.75M 0.01%
+73,317
New +$2.6M
CAR icon
1153
Avis
CAR
$4.93B
$2.74M 0.01%
17,092
-3,784
-18% -$638K
OIH icon
1154
VanEck Oil Services ETF
OIH
$1.95B
$2.74M 0.01%
10,555
-77,752
-88% -$19.3M
MDU icon
1155
MDU Resources
MDU
$4.27B
$2.74M 0.01%
153,798
-7,160
-4% -$120K
PAHC icon
1156
Phibro Animal Health
PAHC
$1.37B
$2.72M 0.01%
67,337
-9,623
-13% -$318K
KTB icon
1157
Kontoor Brands
KTB
$4.51B
$2.72M 0.01%
34,096
-5,402
-14% -$387K
PTGX icon
1158
Protagonist Therapeutics
PTGX
$9.8B
$2.72M 0.01%
40,906
+7,918
+24% +$450K
SLNO
1159
DELISTED
Soleno Therapeutics
SLNO
$2.72M 0.01%
40,192
+26,299
+189% +$1.95M
ADNT icon
1160
Adient
ADNT
$1.44B
$2.72M 0.01%
112,817
-65,711
-37% -$1.53M
UNFI icon
1161
United Natural Foods
UNFI
$2.9B
$2.72M 0.01%
72,200
+28,766
+66% +$789K
ADT icon
1162
ADT
ADT
$5.34B
$2.71M 0.01%
311,064
+155,220
+100% +$1.33M
PARR icon
1163
Par Pacific Holdings
PARR
$4.12B
$2.71M 0.01%
76,404
-29,256
-28% -$952K
AIP icon
1164
Arteris
AIP
$1.36B
$2.7M 0.01%
267,697
-50,000
-16% -$476K
HGV icon
1165
Hilton Grand Vacations
HGV
$3.49B
$2.69M 0.01%
64,451
-1,450
-2% -$66.7K
AMG icon
1166
Affiliated Managers Group
AMG
$9.57B
$2.68M 0.01%
11,260
-16
-0.1% -$3.53K
FN icon
1167
Fabrinet
FN
$20.3B
$2.67M 0.01%
7,329
+3,325
+83% +$1.09M
PLAB icon
1168
Photronics
PLAB
$1.97B
$2.66M 0.01%
116,078
-117,715
-50% -$2.52M
RLI icon
1169
RLI Corp
RLI
$5.87B
$2.66M 0.01%
40,709
-30,646
-43% -$2.07M
MTG icon
1170
MGIC Investment
MTG
$6.29B
$2.64M 0.01%
93,211
-1,691
-2% -$46.1K
MTN icon
1171
Vail Resorts
MTN
$5.29B
$2.63M 0.01%
17,602
+2,261
+15% +$351K
ALK icon
1172
Alaska Air
ALK
$5.3B
$2.63M 0.01%
52,802
+4,028
+8% +$224K
SCHL icon
1173
Scholastic
SCHL
$784M
$2.62M 0.01%
95,660
-10,955
-10% -$271K
NUS icon
1174
Nu Skin
NUS
$236M
$2.6M 0.01%
213,500
-24,464
-10% -$257K
LEA icon
1175
Lear
LEA
$8.16B
$2.6M 0.01%
25,858
-6,054
-19% -$629K
45 46
47
48 49

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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.