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State of Wisconsin Investment Board

State of Wisconsin Investment Board Portfolio holdings

AUM $49.6B
1-Year Est. Return 39.59%
This Fund
S&P 500
This Quarter Est. Return
+9.63%
1 Year Est. Return
+39.59%
3 Year Est. Return
+122.45%
5 Year Est. Return
+154.82%
10 Year Est. Return
+603.46%
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
MX icon
1301
Magnachip Semiconductor
MX
$137M
$1.88M ﹤0.01%
600,017
– –
TARS icon
1302
Tarsus Pharmaceuticals
TARS
$2.98B
$1.88M ﹤0.01%
31,580
+7,607
+32% +$375K
TRIP icon
1303
TripAdvisor
TRIP
$1.29B
$1.87M ﹤0.01%
115,256
-68,290
-37% -$1.19M
CPK icon
1304
Chesapeake Utilities
CPK
$3.26B
$1.87M ﹤0.01%
13,887
+112
+0.8% +$13.9K
CSR
1305
Centerspace
CSR
$944M
$1.87M ﹤0.01%
31,748
-261
-0.8% -$15.1K
CVLG icon
1306
Covenant Logistics
CVLG
$892M
$1.87M ﹤0.01%
86,279
-10,965
-11% -$262K
RLJ icon
1307
RLJ Lodging Trust
RLJ
$1.68B
$1.86M ﹤0.01%
259,000
-100,700
-28% -$759K
GTX icon
1308
Garrett Motion
GTX
$5.35B
$1.85M ﹤0.01%
+136,182
New +$1.72M
STRA icon
1309
Strategic Education
STRA
$1.86B
$1.85M ﹤0.01%
21,497
+18
+0.1% +$1.45K
ANIP icon
1310
ANI Pharmaceuticals
ANIP
$1.71B
$1.84M ﹤0.01%
20,072
+11,706
+140% +$955K
NEU icon
1311
NewMarket
NEU
$8.64B
$1.83M ﹤0.01%
2,211
– –
AAMI
1312
Acadian Asset Management
AAMI
$3.25B
$1.83M ﹤0.01%
37,997
+29,149
+329% +$1.3M
ACLX
1313
DELISTED
Arcellx
ACLX
$1.83M ﹤0.01%
22,238
-3,312
-13% -$238K
KRG icon
1314
Kite Realty
KRG
$5.33B
$1.81M ﹤0.01%
81,337
-3,191
-4% -$71.2K
PBH icon
1315
Prestige Consumer Healthcare
PBH
$2.39B
$1.81M ﹤0.01%
29,055
-3,210
-10% -$223K
RRC icon
1316
Range Resources
RRC
$9.37B
$1.81M ﹤0.01%
48,051
+2,328
+5% +$83.1K
INOD icon
1317
Innodata
INOD
$2.04B
$1.8M ﹤0.01%
23,370
+1,332
+6% +$67.3K
ASPN icon
1318
Aspen Aerogels
ASPN
$499M
$1.79M ﹤0.01%
256,790
-25,833
-9% -$182K
LASR icon
1319
nLIGHT
LASR
$3.01B
$1.78M ﹤0.01%
+60,059
New +$1.49M
NOMD icon
1320
Nomad Foods
NOMD
$1.64B
$1.78M ﹤0.01%
135,100
– –
PAR icon
1321
PAR Technology
PAR
$772M
$1.77M ﹤0.01%
44,738
+10,031
+29% +$554K
SANM icon
1322
Sanmina
SANM
$11.2B
$1.77M ﹤0.01%
15,351
-8,275
-35% -$931K
LUMN icon
1323
Lumen
LUMN
$6.82B
$1.76M ﹤0.01%
287,439
+460
+0.2% +$2.21K
MORN icon
1324
Morningstar
MORN
$7.73B
$1.76M ﹤0.01%
7,573
-16
-0.2% -$4.26K
OGN icon
1325
Organon & Co
OGN
$3.6B
$1.75M ﹤0.01%
164,021
-9,045
-5% -$88.8K
51 52
53
54 55

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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.