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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
CNMD icon
1226
CONMED
CNMD
$1.49B
$2.23M 0.01%
47,348
-322
-0.7% -$16.7K
MARA icon
1227
Marathon Digital Holdings
MARA
$3.56B
$2.22M 0.01%
121,751
+759
+0.6% +$12.8K
SPT icon
1228
Sprout Social
SPT
$604M
$2.22M 0.01%
171,895
-31,420
-15% -$513K
LOAR icon
1229
Loar Holdings
LOAR
$6.93B
$2.21M 0.01%
27,645
-4,446
-14% -$334K
ADMA icon
1230
ADMA Biologics
ADMA
$2.11B
$2.21M 0.01%
150,513
+476
+0.3% +$8.16K
AIR icon
1231
AAR Corp
AIR
$5.96B
$2.2M 0.01%
24,563
+8,380
+52% +$638K
AMTM
1232
Amentum Holdings
AMTM
$5.3B
$2.19M 0.01%
91,398
-459
-0.5% -$11.2K
WHR icon
1233
Whirlpool
WHR
$2.79B
$2.19M 0.01%
27,838
-6,007
-18% -$551K
ABG icon
1234
Asbury Automotive
ABG
$3.76B
$2.18M 0.01%
8,918
+35
+0.4% +$8.51K
SPSC icon
1235
SPS Commerce
SPSC
$2.86B
$2.18M 0.01%
20,893
-3,251
-13% -$387K
NHC icon
1236
National Healthcare
NHC
$3.47B
$2.17M 0.01%
17,892
+253
+1% +$27.3K
VECO icon
1237
Veeco
VECO
$3.26B
$2.17M 0.01%
71,382
-12,354
-15% -$294K
RH icon
1238
RH
RH
$3.41B
$2.17M 0.01%
10,679
-1,535
-13% -$333K
MYGN icon
1239
Myriad Genetics
MYGN
$303M
$2.16M 0.01%
298,834
-238,611
-44% -$1.42M
POWI icon
1240
Power Integrations
POWI
$3.57B
$2.15M ﹤0.01%
53,533
-8,737
-14% -$422K
CALM icon
1241
Cal-Maine
CALM
$3.87B
$2.15M ﹤0.01%
22,804
+1,611
+8% +$172K
QLYS icon
1242
Qualys
QLYS
$6.47B
$2.15M ﹤0.01%
16,210
+8
+0% +$1.08K
WGO icon
1243
Winnebago Industries
WGO
$915M
$2.14M ﹤0.01%
64,029
-21,014
-25% -$693K
TVTX icon
1244
Travere Therapeutics
TVTX
$5.79B
$2.14M ﹤0.01%
89,443
+18,884
+27% +$355K
NAGE
1245
Niagen Bioscience
NAGE
$241M
$2.14M ﹤0.01%
228,963
+75,065
+49% +$758K
DRH icon
1246
Diamondrock Hospitality Co
DRH
$2.5B
$2.13M ﹤0.01%
267,817
-1,225
-0.5% -$9.91K
OI icon
1247
O-I Glass
OI
$1.05B
$2.13M ﹤0.01%
164,163
+120,446
+276% +$1.64M
NWE icon
1248
NorthWestern Energy
NWE
$4.4B
$2.13M ﹤0.01%
36,294
-1,884
-5% -$104K
SOUN icon
1249
SoundHound AI
SOUN
$3.32B
$2.13M ﹤0.01%
132,221
+16,046
+14% +$213K
ERII icon
1250
Energy Recovery
ERII
$397M
$2.1M ﹤0.01%
136,296
– –
48 49
50
51 52

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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.