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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
HI
1476
DELISTED
Hillenbrand
HI
$1.15M ﹤0.01%
42,397
-8,567
-17% -$201K
CIVI
1477
DELISTED
Civitas Resources
CIVI
$1.15M ﹤0.01%
35,240
-7,687
-18% -$246K
FIVN icon
1478
FIVE9
FIVN
$2.45B
$1.14M ﹤0.01%
47,085
-7,205
-13% -$191K
KOP icon
1479
Koppers
KOP
$888M
$1.14M ﹤0.01%
40,565
-14,000
-26% -$431K
CPNG icon
1480
Coupang
CPNG
$29.1B
$1.14M ﹤0.01%
35,271
+7,464
+27% +$226K
TRVI icon
1481
Trevi Therapeutics
TRVI
$2.61B
$1.13M ﹤0.01%
123,276
+6,031
+5% +$45.2K
ARDT
1482
Ardent Health
ARDT
$1.56B
$1.12M ﹤0.01%
84,830
+57,788
+214% +$723K
LENZ
1483
LENZ Therapeutics
LENZ
$149M
$1.12M ﹤0.01%
+24,113
New +$887K
PRCH icon
1484
Porch Group
PRCH
$1.95B
$1.12M ﹤0.01%
+66,908
New +$1.03M
TBI
1485
Trueblue
TBI
$317M
$1.12M ﹤0.01%
182,549
-2,464
-1% -$15.6K
NVRI icon
1486
Enviri
NVRI
$579M
$1.12M ﹤0.01%
88,116
+52,108
+145% +$539K
SCSC icon
1487
Scansource
SCSC
$1.07B
$1.12M ﹤0.01%
25,347
-38,887
-61% -$1.66M
HAFC icon
1488
Hanmi Financial
HAFC
$964M
$1.11M ﹤0.01%
45,070
+17,109
+61% +$421K
OUST icon
1489
Ouster
OUST
$3.58B
$1.11M ﹤0.01%
+41,064
New +$1.15M
PRKS icon
1490
United Parks & Resorts
PRKS
$2.04B
$1.11M ﹤0.01%
21,466
+5,864
+38% +$296K
KNF icon
1491
Knife River
KNF
$3.81B
$1.11M ﹤0.01%
14,430
-3,580
-20% -$292K
NXDR
1492
Nextdoor Holdings
NXDR
$1.01B
$1.11M ﹤0.01%
529,490
+7,192
+1% +$13.9K
EYPT icon
1493
EyePoint Inc
EYPT
$1.21B
$1.1M ﹤0.01%
77,547
-1,100
-1% -$12.7K
ZUMZ icon
1494
Zumiez
ZUMZ
$315M
$1.1M ﹤0.01%
56,093
-29,200
-34% -$482K
HMN icon
1495
Horace Mann Educators
HMN
$2.12B
$1.1M ﹤0.01%
24,276
+11,959
+97% +$526K
WEN icon
1496
Wendy's
WEN
$1.65B
$1.09M ﹤0.01%
118,756
+97,241
+452% +$999K
REPL icon
1497
Replimune Group
REPL
$1.43B
$1.09M ﹤0.01%
258,960
+184,179
+246% +$1.18M
NRDS icon
1498
NerdWallet
NRDS
$632M
$1.08M ﹤0.01%
100,792
-38,155
-27% -$407K
SRPT icon
1499
Sarepta Therapeutics
SRPT
$1.88B
$1.08M ﹤0.01%
56,171
-54,293
-49% -$968K
HE icon
1500
Hawaiian Electric Industries
HE
$2.06B
$1.08M ﹤0.01%
98,002
-969
-1% -$11K
58 59
60
61 62

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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.