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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
HEI.A icon
26
HEICO Corp Class A
HEI.A
$38B
$225M 0.52%
886,359
+25,891
+3% +$6.47M
COST icon
27
Costco
COST
$421B
$219M 0.5%
236,886
-8,529
-3% -$8.18M
PLTR icon
28
Palantir
PLTR
$411B
$218M 0.5%
1,196,352
+37,791
+3% +$6.12M
NWSA icon
29
News Corp Class A
NWSA
$15.5B
$218M 0.5%
7,089,884
+257,000
+4% +$7.62M
ABBV icon
30
AbbVie
ABBV
$440B
$216M 0.5%
935,042
-28,628
-3% -$5.83M
HD icon
31
Home Depot
HD
$342B
$212M 0.49%
522,871
-8,240
-2% -$3.24M
BAC icon
32
Bank of America
BAC
$453B
$203M 0.46%
3,928,856
-102,347
-3% -$4.99M
PG icon
33
Procter & Gamble
PG
$335B
$196M 0.45%
1,273,691
-26,289
-2% -$4.11M
GE icon
34
GE Aerospace
GE
$379B
$185M 0.42%
613,835
+1,832
+0.3% +$501K
UNH icon
35
UnitedHealth
UNH
$364B
$166M 0.38%
479,308
-29,514
-6% -$8.93M
CVX icon
36
Chevron
CVX
$386B
$160M 0.37%
1,031,974
+145,444
+16% +$22.5M
CSCO icon
37
Cisco
CSCO
$488B
$153M 0.35%
2,238,013
-126,514
-5% -$8.62M
ZG icon
38
Zillow
ZG
$7.53B
$151M 0.35%
2,028,455
+733,365
+57% +$57.7M
KO icon
39
Coca-Cola
KO
$373B
$146M 0.33%
2,198,768
-50,468
-2% -$3.47M
IBM icon
40
IBM
IBM
$222B
$142M 0.33%
503,395
-10,371
-2% -$2.71M
WFC icon
41
Wells Fargo
WFC
$269B
$142M 0.33%
1,693,284
-50,156
-3% -$4.07M
HAPS icon
42
Harbor Human Capital Factor US Small Cap ETF
HAPS
$176M
$141M 0.32%
4,520,000
– –
PM icon
43
Philip Morris
PM
$290B
$140M 0.32%
863,182
-26,640
-3% -$4.48M
AMD icon
44
Advanced Micro Devices
AMD
$788B
$139M 0.32%
858,723
-9,240
-1% -$1.49M
EEM icon
45
iShares MSCI Emerging Markets ETF
EEM
$30.4B
$135M 0.31%
2,528,628
-25,200
-1% -$1.27M
FWONA icon
46
Liberty Media Series A
FWONA
$23.7B
$132M 0.3%
1,386,369
+34,926
+3% +$3.19M
EFFI
47
Harbor Osmosis International Resource Efficient ETF
EFFI
$155M
$130M 0.3%
5,500,000
– –
GS icon
48
Goldman Sachs
GS
$302B
$130M 0.3%
163,067
-3,548
-2% -$2.63M
CRM icon
49
Salesforce
CRM
$158B
$124M 0.28%
523,397
-19,309
-4% -$4.87M
EFFE
50
Harbor Osmosis Emerging Markets Resource Efficient ETF
EFFE
$145M
$123M 0.28%
5,140,000
– –
1
2
3 4 5

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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.