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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
ORLY icon
126
O'Reilly Automotive
ORLY
$75.8B
$55M 0.13%
510,225
-45,247
-8% -$4.55M
HOOD icon
127
Robinhood
HOOD
$89.5B
$54.9M 0.13%
383,193
-7,305
-2% -$797K
SO icon
128
Southern Company
SO
$107B
$54.7M 0.13%
577,408
-10,037
-2% -$937K
MCK icon
129
McKesson
MCK
$101B
$54.6M 0.13%
70,698
-7,784
-10% -$5.48M
MRSH
130
Marsh
MRSH
$90.9B
$54.1M 0.12%
268,351
-4,311
-2% -$887K
NEM icon
131
Newmont
NEM
$121B
$53.8M 0.12%
637,787
-48,305
-7% -$3.37M
TT icon
132
Trane Technologies
TT
$105B
$53.7M 0.12%
127,296
-4,832
-4% -$2.06M
CVS icon
133
CVS Health
CVS
$123B
$53.6M 0.12%
711,045
-25,164
-3% -$1.72M
XSOE icon
134
WisdomTree Emerging Markets ex-State-Owned Enterprises Fund
XSOE
$2.13B
$53.5M 0.12%
1,408,892
– –
CME icon
135
CME Group
CME
$95.1B
$53.1M 0.12%
196,702
-13,654
-6% -$3.72M
DASH icon
136
DoorDash
DASH
$93.2B
$52.8M 0.12%
194,066
-19,367
-9% -$4.86M
CDNS icon
137
Cadence Design Systems
CDNS
$89.7B
$52.7M 0.12%
149,939
+3,506
+2% +$1.21M
PH icon
138
Parker-Hannifin
PH
$133B
$52.1M 0.12%
68,683
-1,643
-2% -$1.21M
ICE icon
139
Intercontinental Exchange
ICE
$85.8B
$50.8M 0.12%
301,801
-5,203
-2% -$930K
DUK icon
140
Duke Energy
DUK
$96.9B
$50.6M 0.12%
409,088
-7,055
-2% -$856K
SBUX icon
141
Starbucks
SBUX
$126B
$50.5M 0.12%
597,369
-20,687
-3% -$1.85M
EMXC icon
142
iShares MSCI Emerging Markets ex China ETF
EMXC
$24.7B
$50.4M 0.12%
746,842
– –
SHW icon
143
Sherwin-Williams
SHW
$88B
$49.9M 0.11%
144,093
-4,496
-3% -$1.59M
MDLZ icon
144
Mondelez International
MDLZ
$80.8B
$49.8M 0.11%
796,792
-17,164
-2% -$1.11M
AMT icon
145
American Tower
AMT
$80.4B
$48.4M 0.11%
251,789
-4,734
-2% -$986K
BMY icon
146
Bristol-Myers Squibb
BMY
$132B
$48.3M 0.11%
1,070,185
-48,549
-4% -$2.27M
RCL icon
147
Royal Caribbean
RCL
$83.5B
$48.1M 0.11%
148,649
+3,498
+2% +$1.17M
SNPS icon
148
Synopsys
SNPS
$79.8B
$48M 0.11%
97,386
+13,729
+16% +$7.76M
MSI icon
149
Motorola Solutions
MSI
$77.3B
$47.7M 0.11%
104,314
+3,940
+4% +$1.78M
WM icon
150
Waste Management
WM
$90.7B
$46.7M 0.11%
211,599
-17,195
-8% -$3.87M
4 5
6
7 8

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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.