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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
NSIT icon
1351
Insight Enterprises
NSIT
$4.57B
$1.65M ﹤0.01%
14,541
-20,273
-58% -$2.64M
DY icon
1352
Dycom Industries
DY
$12.6B
$1.64M ﹤0.01%
5,630
+1,542
+38% +$405K
PRDO icon
1353
Perdoceo Education
PRDO
$1.97B
$1.64M ﹤0.01%
43,430
+11,553
+36% +$370K
SHO icon
1354
Sunstone Hotel Investors
SHO
$2.05B
$1.64M ﹤0.01%
174,514
+154,899
+790% +$1.42M
ICHR icon
1355
Ichor Holdings
ICHR
$2.67B
$1.63M ﹤0.01%
92,952
+48,387
+109% +$919K
SHOO icon
1356
Steven Madden
SHOO
$3.47B
$1.61M ﹤0.01%
47,994
-19,127
-28% -$536K
PATH icon
1357
UiPath
PATH
$8.3B
$1.59M ﹤0.01%
119,150
-416
-0.3% -$4.92K
ARW icon
1358
Arrow Electronics
ARW
$10.8B
$1.59M ﹤0.01%
13,165
+33
+0.3% +$4.15K
BUR icon
1359
Burford Capital
BUR
$977M
$1.59M ﹤0.01%
133,080
-243
-0.2% -$3.25K
AOSL icon
1360
Alpha and Omega Semiconductor
AOSL
$918M
$1.59M ﹤0.01%
56,921
-29,870
-34% -$829K
DAKT icon
1361
Daktronics
DAKT
$991M
$1.59M ﹤0.01%
75,831
+2,802
+4% +$50.3K
NNN icon
1362
NNN REIT
NNN
$8.87B
$1.58M ﹤0.01%
37,134
+260
+0.7% +$11K
XRAY icon
1363
Dentsply Sirona
XRAY
$2.35B
$1.58M ﹤0.01%
124,410
+77,367
+164% +$1.12M
AAL icon
1364
American Airlines Group
AAL
$9.92B
$1.58M ﹤0.01%
140,306
+123,857
+753% +$1.53M
ETNB
1365
DELISTED
89bio
ETNB
$1.57M ﹤0.01%
106,985
-41,016
-28% -$418K
KYMR icon
1366
Kymera Therapeutics
KYMR
$9.49B
$1.57M ﹤0.01%
27,772
-5,000
-15% -$226K
FAF icon
1367
First American
FAF
$7.49B
$1.56M ﹤0.01%
24,309
-1,125
-4% -$71K
LBTYA icon
1368
Liberty Global Class A
LBTYA
$3.61B
$1.56M ﹤0.01%
136,244
-2,255,732
-94% -$24.8M
SHAK icon
1369
Shake Shack
SHAK
$3.02B
$1.56M ﹤0.01%
16,663
-716
-4% -$82.3K
VISN
1370
Vistance Networks Inc
VISN
$2.64B
$1.56M ﹤0.01%
100,582
-301,923
-75% -$3.92M
HR icon
1371
Healthcare Realty
HR
$6.6B
$1.55M ﹤0.01%
86,167
-4,777
-5% -$80.8K
DBD icon
1372
Diebold Nixdorf
DBD
$2.48B
$1.55M ﹤0.01%
+27,187
New +$1.61M
CBT icon
1373
Cabot Corp
CBT
$4.49B
$1.55M ﹤0.01%
20,356
+3,134
+18% +$244K
DX
1374
Dynex Capital
DX
$3.25B
$1.54M ﹤0.01%
125,601
+911
+0.7% +$11.4K
GTM
1375
ZoomInfo Technologies
GTM
$1.21B
$1.54M ﹤0.01%
140,912
-17,000
-11% -$182K
53 54
55
56 57

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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.