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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
(+6.5%)
Cap. Flow
-$296M
Cap. Flow
% of AUM
-0.68%
Top 10 Holdings %
Top 10 Hldgs %
29.38%
Holding
2,561
New
248
Increased
889
Reduced
1,164
Closed
195
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Invesco S&P 500 Equal Weight ETF
RSP
|
+$108M |
| 2 |
Berkshire Hathaway Class A
BRK.A
|
+$88M |
| 3 |
Zillow
ZG
|
+$57.7M |
| 4 |
Brookfield Renewable
BEP
|
+$55M |
| 5 |
Fox Class B
FOX
|
+$45.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$53.8M |
| 2 |
NVIDIA
NVDA
|
+$52.1M |
| 3 |
HES
Hess
HES
|
+$43.8M |
| 4 |
Microsoft
MSFT
|
+$41.6M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
2401
CPI Card Group
PMTS
$334M
| – | – |
-13,800
| Closed | -$327K |
|
|
PPBI
2402
DELISTED
Pacific Premier Bancorp
PPBI
| – | – |
-124,373
| Closed | -$2.62M |
|
2403
PRA Group
PRAA
$774M
| – | – |
-32,996
| Closed | -$487K |
|
2404
Progress Software
PRGS
$1.79B
| – | – |
-3,982
| Closed | -$254K |
|
2405
Prothena Corp
PRTA
$478M
| – | – |
-103,996
| Closed | -$631K |
|
2406
Paysafe
PSFE
$366M
| – | – |
-62,882
| Closed | -$794K |
|
2407
PubMatic
PUBM
$782M
| – | – |
-62,165
| Closed | -$773K |
|
2408
Papa John's
PZZA
$805M
| – | – |
-6,974
| Closed | -$341K |
|
2409
QuinStreet
QNST
$1.2B
| – | – |
-60,633
| Closed | -$976K |
|
2410
LiveRamp
RAMP
$2.3B
| – | – |
-6,669
| Closed | -$220K |
|
2411
Rocket Pharmaceuticals
RCKT
$371M
| – | – |
-35,300
| Closed | -$86.5K |
|
|
REFI
2412
Chicago Atlantic Real Estate Finance
REFI
$266M
| – | – |
-13,100
| Closed | -$183K |
|
2413
BRC Group Holdings
RILY
$306M
| – | – |
-48,734
| Closed | -$145K |
|
2414
The RMR Group
RMR
$342M
| – | – |
-14,900
| Closed | -$244K |
|
2415
Rogers Corp
ROG
$2.49B
| – | – |
-25,058
| Closed | -$1.72M |
|
2416
Repay Holdings
RPAY
$312M
| – | – |
-121,301
| Closed | -$585K |
|
2417
Rapid7
RPD
$857M
| – | – |
-133,674
| Closed | -$3.09M |
|
2418
RXO
RXO
$3.86B
| – | – |
-27,472
| Closed | -$432K |
|
2419
RxSight
RXST
$288M
| – | – |
-18,593
| Closed | -$242K |
|
2420
Safety Insurance
SAFT
$1.52B
| – | – |
-7,720
| Closed | -$613K |
|
2421
Sally Beauty Holdings
SBH
$1.55B
| – | – |
-10,603
| Closed | -$98.2K |
|
2422
Stepan Co
SCL
$1.48B
| – | – |
-9,636
| Closed | -$526K |
|
|
SHOE
2423
Shoe Station Group
SHOE
$420M
| – | – |
-15,142
| Closed | -$283K |
|
2424
Silicon Motion
SIMO
$8.4B
| – | – |
-50,667
| Closed | -$3.81M |
|
|
SKX
2425
DELISTED
Skechers
SKX
| – | – |
-12,448
| Closed | -$785K |
|
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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.