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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
PNFP icon
251
Pinnacle Financial Partners Inc
PNFP
$16.2B
$28.6M 0.07%
304,587
+144,179
+90% +$14.4M
FDX icon
252
FedEx
FDX
$78.7B
$28.5M 0.07%
120,775
-4,090
-3% -$943K
TRGP icon
253
Targa Resources
TRGP
$57.9B
$28.4M 0.07%
169,735
+2,255
+1% +$376K
VMC icon
254
Vulcan Materials
VMC
$36.2B
$28.3M 0.06%
92,036
-4,206
-4% -$1.19M
SLB icon
255
SLB Ltd
SLB
$77.6B
$28.3M 0.06%
823,097
+57,512
+8% +$2M
D icon
256
Dominion Energy
D
$60.1B
$28.3M 0.06%
462,227
-6,620
-1% -$394K
DHI icon
257
D.R. Horton
DHI
$41.5B
$28.1M 0.06%
165,894
-3,556
-2% -$559K
ABNB icon
258
Airbnb
ABNB
$110B
$27.8M 0.06%
229,338
-15,698
-6% -$2.03M
AMP icon
259
Ameriprise Financial
AMP
$49.8B
$27.7M 0.06%
56,446
-978
-2% -$501K
WDAY icon
260
Workday
WDAY
$43.3B
$27.6M 0.06%
114,637
-21,072
-16% -$4.87M
CPRT icon
261
Copart
CPRT
$26.8B
$27.6M 0.06%
612,678
-48,103
-7% -$2.27M
CENTA icon
262
Central Garden & Pet Co Class A
CENTA
$2.44B
$27.4M 0.06%
927,969
-133,619
-13% -$4.45M
BIP icon
263
Brookfield Infrastructure Partners
BIP
$18.2B
$27.3M 0.06%
+829,903
New +$26.1M
EQT icon
264
EQT Corp
EQT
$33.7B
$27.1M 0.06%
498,799
+50,873
+11% +$2.69M
F icon
265
Ford
F
$55.3B
$27.1M 0.06%
2,262,729
-245,355
-10% -$2.83M
EW icon
266
Edwards Lifesciences
EW
$53.4B
$26.8M 0.06%
344,856
+14,802
+4% +$1.16M
PEG icon
267
Public Service Enterprise Group
PEG
$37.8B
$26.7M 0.06%
319,600
+46,337
+17% +$3.89M
EXC icon
268
Exelon
EXC
$46.8B
$26.7M 0.06%
592,394
+11,986
+2% +$526K
IEMG icon
269
iShares Core MSCI Emerging Markets ETF
IEMG
$159B
$26.6M 0.06%
403,000
-138,700
-26% -$8.65M
CW icon
270
Curtiss-Wright
CW
$25.5B
$26.5M 0.06%
48,854
-2,537
-5% -$1.25M
ROST icon
271
Ross Stores
ROST
$78.2B
$26.2M 0.06%
172,080
-25,308
-13% -$3.61M
CARR icon
272
Carrier Global
CARR
$52.2B
$26M 0.06%
435,681
+7,581
+2% +$515K
MPWR icon
273
Monolithic Power Systems
MPWR
$69.3B
$25.9M 0.06%
28,142
+2,633
+10% +$2.13M
VCSH icon
274
Vanguard Short-Term Corporate Bond ETF
VCSH
$45.1B
$25.9M 0.06%
324,000
– –
CUK
275
DELISTED
Carnival PLC
CUK
$25.9M 0.06%
977,898
-1,700
-0.2% -$46.8K
9 10
11
12 13

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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.