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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
AMR icon
1326
Alpha Metallurgical Resources
AMR
$2.06B
$1.75M ﹤0.01%
10,666
-11,600
-52% -$1.61M
UVE icon
1327
Universal Insurance Holdings
UVE
$1.19B
$1.73M ﹤0.01%
65,949
+39,500
+149% +$975K
AWR icon
1328
American States Water
AWR
$3.53B
$1.73M ﹤0.01%
23,575
-179
-0.8% -$13.3K
PAGS icon
1329
PagSeguro Digital
PAGS
$2.47B
$1.73M ﹤0.01%
172,632
+143,739
+497% +$1.29M
PDD icon
1330
Pinduoduo
PDD
$119B
$1.72M ﹤0.01%
13,037
+1,641
+14% +$194K
QUBT icon
1331
Quantum Computing Inc
QUBT
$2.02B
$1.72M ﹤0.01%
93,172
+2,102
+2% +$36.1K
CSTM icon
1332
Constellium
CSTM
$3.98B
$1.71M ﹤0.01%
115,020
-54,514
-32% -$780K
AA icon
1333
Alcoa
AA
$13.3B
$1.71M ﹤0.01%
51,983
+2,996
+6% +$93.2K
APLD icon
1334
Applied Digital
APLD
$8.8B
$1.71M ﹤0.01%
74,482
+9,485
+15% +$140K
SNCY
1335
DELISTED
Sun Country Airlines
SNCY
$1.71M ﹤0.01%
144,435
-61,125
-30% -$756K
FSLY icon
1336
Fastly Inc
FSLY
$4.73B
$1.71M ﹤0.01%
199,475
-122,263
-38% -$905K
WNS
1337
DELISTED
WNS Holdings
WNS
$1.7M ﹤0.01%
22,351
-52,524
-70% -$3.93M
VCYT icon
1338
Veracyte
VCYT
$3.34B
$1.7M ﹤0.01%
49,547
-344
-0.7% -$9.87K
FTRE icon
1339
Fortrea Holdings
FTRE
$1.64B
$1.7M ﹤0.01%
202,003
+171,074
+553% +$1.31M
ORGO icon
1340
Organogenesis Holdings
ORGO
$224M
$1.69M ﹤0.01%
401,463
-125,700
-24% -$584K
LQDA icon
1341
Liquidia Corp
LQDA
$6.65B
$1.69M ﹤0.01%
74,129
+41,431
+127% +$899K
REXR icon
1342
Rexford Industrial Realty
REXR
$8.13B
$1.69M ﹤0.01%
40,990
-15,998
-28% -$626K
KRMN
1343
Karman Holdings
KRMN
$8.2B
$1.68M ﹤0.01%
23,310
+2,684
+13% +$147K
CC icon
1344
Chemours
CC
$2.39B
$1.66M ﹤0.01%
105,113
+8,105
+8% +$118K
SUPN icon
1345
Supernus Pharmaceuticals
SUPN
$2.72B
$1.66M ﹤0.01%
34,838
-60,376
-63% -$2.43M
TDAY
1346
USA Today Co
TDAY
$1.01B
$1.66M ﹤0.01%
402,819
-67,476
-14% -$271K
SEDG icon
1347
SolarEdge
SEDG
$2.04B
$1.66M ﹤0.01%
44,920
-2,653
-6% -$79.2K
AWI icon
1348
Armstrong World Industries
AWI
$7.67B
$1.66M ﹤0.01%
8,475
-1,417
-14% -$264K
CWT icon
1349
California Water Service
CWT
$3.12B
$1.66M ﹤0.01%
36,162
-292
-0.8% -$13.4K
VKTX icon
1350
Viking Therapeutics
VKTX
$3.83B
$1.65M ﹤0.01%
62,896
-23,394
-27% -$698K
52 53
54
55 56

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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.