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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
ES icon
426
Eversource Energy
ES
$27.2B
$16.1M 0.04%
226,969
-1,600
-0.7% -$105K
DGX icon
427
Quest Diagnostics
DGX
$26.1B
$16.1M 0.04%
84,408
-5,263
-6% -$934K
DOV icon
428
Dover
DOV
$27.8B
$16.1M 0.04%
96,302
+3,791
+4% +$680K
ZBRA icon
429
Zebra Technologies
ZBRA
$18B
$16M 0.04%
53,995
+10,116
+23% +$3.23M
GIS icon
430
General Mills
GIS
$20.8B
$16M 0.04%
317,952
-59,633
-16% -$2.99M
IDCC icon
431
InterDigital
IDCC
$8.88B
$16M 0.04%
46,421
+985
+2% +$268K
ZS icon
432
Zscaler
ZS
$30.4B
$15.9M 0.04%
53,190
-413
-0.8% -$118K
KEYS icon
433
Keysight
KEYS
$60.5B
$15.9M 0.04%
90,643
-1,176
-1% -$196K
EXR icon
434
Extra Space Storage
EXR
$31.6B
$15.8M 0.04%
112,341
-351
-0.3% -$50.4K
MANH icon
435
Manhattan Associates
MANH
$11.7B
$15.8M 0.04%
77,115
-3,215
-4% -$680K
AVB icon
436
AvalonBay Communities
AVB
$26.3B
$15.8M 0.04%
81,712
+300
+0.4% +$58.4K
RL icon
437
Ralph Lauren
RL
$23.1B
$15.8M 0.04%
50,240
-8,584
-15% -$2.56M
ARM icon
438
Arm
ARM
$298B
$15.7M 0.04%
+110,800
New +$16.1M
AEE icon
439
Ameren
AEE
$30.2B
$15.6M 0.04%
149,497
-178
-0.1% -$17.8K
CRDO icon
440
Credo Technology Group
CRDO
$49.6B
$15.6M 0.04%
106,877
+5,390
+5% +$660K
VRSN icon
441
VeriSign
VRSN
$26B
$15.5M 0.04%
55,475
-317
-0.6% -$88.6K
BRO icon
442
Brown & Brown
BRO
$24B
$15.5M 0.04%
165,095
-12,341
-7% -$1.2M
SSB icon
443
SouthState Bank Corp
SSB
$10.8B
$15.5M 0.04%
156,485
+39,220
+33% +$3.85M
VTEB icon
444
Vanguard Tax-Exempt Bond Index Fund
VTEB
$46.1B
$15.5M 0.04%
309,000
– –
CACI icon
445
CACI
CACI
$14.8B
$15.5M 0.04%
30,990
-139
-0.4% -$67.2K
JLL icon
446
Jones Lang LaSalle
JLL
$17B
$15.4M 0.04%
51,726
+3,294
+7% +$941K
SPXC icon
447
SPX Corp
SPXC
$10.6B
$15.3M 0.04%
82,180
-4,960
-6% -$917K
SOFI icon
448
SoFi Technologies
SOFI
$23.8B
$15.3M 0.04%
580,979
+282,725
+95% +$6.71M
CADE
449
DELISTED
Cadence Bank
CADE
$15.3M 0.04%
406,826
+57
+0% +$2.05K
EXP icon
450
Eagle Materials
EXP
$6.41B
$15.2M 0.03%
65,025
-381
-0.6% -$86.4K
16 17
18
19 20

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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.