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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
FTNT icon
226
Fortinet
FTNT
$120B
$31.6M 0.07%
375,422
-15,152
-4% -$1.35M
KMI icon
227
Kinder Morgan
KMI
$70.9B
$31.5M 0.07%
1,113,558
-16,578
-1% -$454K
STX icon
228
Seagate
STX
$207B
$31.5M 0.07%
133,244
+11,286
+9% +$1.93M
FAST icon
229
Fastenal
FAST
$59.2B
$31.3M 0.07%
639,226
-11,373
-2% -$537K
ALNY icon
230
Alnylam Pharmaceuticals
ALNY
$30.2B
$31.2M 0.07%
68,529
-9,577
-12% -$3.9M
XEL icon
231
Xcel Energy
XEL
$49.4B
$31.1M 0.07%
385,411
-47,165
-11% -$3.41M
GM icon
232
General Motors
GM
$76.2B
$30.8M 0.07%
505,525
-9,182
-2% -$512K
LHX icon
233
L3Harris
LHX
$53.4B
$30.6M 0.07%
100,257
-11,929
-11% -$3.26M
DLR icon
234
Digital Realty Trust
DLR
$73.2B
$30.6M 0.07%
177,065
-2,638
-1% -$451K
APO icon
235
Apollo Global Management
APO
$82.7B
$30.6M 0.07%
229,257
+15,985
+7% +$2.26M
ROP icon
236
Roper Technologies
ROP
$38.5B
$30.4M 0.07%
60,979
-5,109
-8% -$2.73M
CBRE icon
237
CBRE Group
CBRE
$43B
$30.3M 0.07%
192,046
+19,568
+11% +$3.03M
O icon
238
Realty Income
O
$59.8B
$30.2M 0.07%
497,097
-2,632
-0.5% -$153K
CMG icon
239
Chipotle Mexican Grill
CMG
$41.4B
$29.7M 0.07%
758,968
+1,011
+0.1% +$45.5K
PCAR icon
240
PACCAR
PCAR
$68.1B
$29.7M 0.07%
301,698
-5,612
-2% -$553K
AXON
241
Axon Enterprise
AXON
$48.6B
$29.6M 0.07%
41,295
-1,163
-3% -$882K
LNG icon
242
Cheniere Energy
LNG
$55.5B
$29.6M 0.07%
126,082
+4,555
+4% +$1.07M
FCX icon
243
Freeport-McMoran
FCX
$95.1B
$29.6M 0.07%
754,949
-12,284
-2% -$533K
EA
244
DELISTED
Electronic Arts
EA
$29.5M 0.07%
146,300
+6,197
+4% +$1.03M
SE icon
245
Sea Limited
SE
$75.3B
$29.4M 0.07%
164,584
+10,688
+7% +$1.83M
VRT icon
246
Vertiv
VRT
$112B
$29.4M 0.07%
194,617
-2,766
-1% -$369K
MNST icon
247
Monster Beverage
MNST
$91.8B
$29.3M 0.07%
870,884
-194,574
-18% -$6.07M
EME icon
248
Emcor
EME
$36.9B
$29.1M 0.07%
44,732
-2,052
-4% -$1.24M
CTVA icon
249
Corteva
CTVA
$50.2B
$28.6M 0.07%
423,505
-6,918
-2% -$501K
BDX icon
250
Becton Dickinson
BDX
$49.8B
$28.6M 0.07%
152,695
-2,016
-1% -$375K
8 9
10
11 12

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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.