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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
FOUR icon
576
Shift4
FOUR
$3.79B
$11.5M 0.03%
148,686
-5,366
-3% -$499K
ON icon
577
ON Semiconductor
ON
$31.8B
$11.5M 0.03%
233,336
-57,081
-20% -$3M
ESS icon
578
Essex Property Trust
ESS
$18.5B
$11.5M 0.03%
42,929
-4,344
-9% -$1.17M
EPRT icon
579
Essential Properties Realty Trust
EPRT
$6.71B
$11.5M 0.03%
384,764
-2,706
-0.7% -$82.8K
L icon
580
Loews
L
$23B
$11.4M 0.03%
113,860
-3,223
-3% -$305K
DKNG icon
581
DraftKings
DKNG
$12.6B
$11.4M 0.03%
304,612
+27,148
+10% +$1.2M
FNB icon
582
FNB Corp
FNB
$6.88B
$11.4M 0.03%
705,988
-10,691
-1% -$170K
FSS icon
583
Federal Signal
FSS
$7.51B
$11.3M 0.03%
95,130
-2,608
-3% -$313K
EVRG icon
584
Evergy
EVRG
$19.3B
$11.3M 0.03%
148,692
+10,301
+7% +$734K
HQY icon
585
HealthEquity
HQY
$8.83B
$11.3M 0.03%
119,020
+18,649
+19% +$1.76M
KFY icon
586
Korn Ferry
KFY
$4.36B
$11.3M 0.03%
161,077
-12,979
-7% -$947K
EPAM icon
587
EPAM Systems
EPAM
$5.24B
$11.3M 0.03%
74,741
-2,276
-3% -$374K
DVN icon
588
Devon Energy
DVN
$48.8B
$11.3M 0.03%
320,901
-56,488
-15% -$1.92M
RKLB icon
589
Rocket Lab Corp
RKLB
$51.2B
$11.2M 0.03%
234,004
+87,941
+60% +$3.99M
ROL icon
590
Rollins
ROL
$17.4B
$11.2M 0.03%
190,837
-43,561
-19% -$2.48M
CCB icon
591
Coastal Financial
CCB
$774M
$11.2M 0.03%
103,257
-46
-0% -$4.88K
KEY icon
592
KeyCorp
KEY
$24.6B
$11.2M 0.03%
597,525
+38,776
+7% +$718K
GPK icon
593
Graphic Packaging
GPK
$3.51B
$11.1M 0.03%
569,041
-6,123
-1% -$133K
WIX icon
594
WIX.com
WIX
$3.35B
$11.1M 0.03%
62,267
+2,472
+4% +$372K
IJH icon
595
iShares Core S&P Mid-Cap ETF
IJH
$128B
$11M 0.03%
169,080
+47,050
+39% +$3.02M
NTRA icon
596
Natera
NTRA
$44.8B
$11M 0.03%
68,239
-6,284
-8% -$994K
PNW icon
597
Pinnacle West Capital
PNW
$12.2B
$11M 0.03%
122,460
-4,287
-3% -$386K
BLD
598
DELISTED
TopBuild
BLD
$10.9M 0.03%
28,002
-384
-1% -$153K
TEVA icon
599
Teva Pharmaceuticals
TEVA
$42.6B
$10.9M 0.03%
540,922
-14,000
-3% -$246K
BIIB icon
600
Biogen
BIIB
$31.1B
$10.9M 0.03%
77,899
-869
-1% -$117K
22 23
24
25 26

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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.