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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
AVNS
2301
DELISTED
Avanos Medical
AVNS
– –
-64,940
Closed -$795K
BASE
2302
DELISTED
Couchbase
BASE
– –
-58,320
Closed -$1.42M
BF.A icon
2303
Brown-Forman Class A
BF.A
$13.1B
– –
-108,382
Closed -$2.98M
BGS icon
2304
B&G Foods
BGS
$297M
– –
-153,468
Closed -$649K
CMRC
2305
Commerce.com Inc Series 1
CMRC
$180M
– –
-33,902
Closed -$170K
BIPC icon
2306
Brookfield Infrastructure
BIPC
$4.95B
– –
-38,555
Closed -$1.6M
BLMN icon
2307
Bloomin' Brands
BLMN
$942M
– –
-81,300
Closed -$700K
BOOM icon
2308
DMC Global
BOOM
$154M
– –
-23,738
Closed -$191K
BPMC
2309
DELISTED
Blueprint Medicines
BPMC
– –
-89,373
Closed -$11.5M
BTMD icon
2310
Biote Corp
BTMD
$43M
– –
-22,700
Closed -$91.3K
BUSE icon
2311
First Busey Corp
BUSE
$2.59B
– –
-24,600
Closed -$563K
BBBY
2312
Bed Bath & Beyond
BBBY
$411M
– –
-13,044
Closed -$81.6K
CAL icon
2313
Caleres
CAL
$454M
– –
-13,337
Closed -$163K
CCJ icon
2314
Cameco
CCJ
$42.7B
– –
-68,800
Closed -$5.11M
CCS icon
2315
Century Communities
CCS
$2.03B
– –
-13,259
Closed -$747K
CDRE icon
2316
Cadre Holdings
CDRE
$1.44B
– –
-19,277
Closed -$614K
CGEM icon
2317
Cullinan Oncology
CGEM
$1.28B
– –
-11,173
Closed -$84.1K
CHX
2318
DELISTED
ChampionX
CHX
– –
-364,717
Closed -$9.06M
CMCO icon
2319
Columbus McKinnon
CMCO
$547M
– –
-40,860
Closed -$624K
CNOB icon
2320
Center Bancorp
CNOB
$1.82B
– –
-22,582
Closed -$523K
CREVW
2321
CALL
DELISTED
Carbon Revolution PLC Warrant
CREVW
– –
-833,400
Closed -$2.35M
CTLP
2322
DELISTED
Cantaloupe
CTLP
– –
-103,858
Closed -$1.14M
CTO
2323
CTO Realty Growth
CTO
$827M
– –
-11,136
Closed -$192K
CTS icon
2324
CTS Corp
CTS
$1.81B
– –
-10,412
Closed -$444K
DBI icon
2325
Designer Brands
DBI
$306M
– –
-401,100
Closed -$955K
91 92
93
94 95

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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.