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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
UTHR icon
676
United Therapeutics
UTHR
$21.5B
$9.39M 0.02%
22,388
-13,338
-37% -$4.49M
CRTO icon
677
Criteo S.A. Ordinary Shares
CRTO
$915M
$9.34M 0.02%
413,087
-42,910
-9% -$1M
IEX icon
678
IDEX
IEX
$17.6B
$9.29M 0.02%
57,073
+931
+2% +$157K
LFUS icon
679
Littelfuse
LFUS
$11.4B
$9.28M 0.02%
35,842
-977
-3% -$245K
EXPD icon
680
Expeditors International
EXPD
$24.3B
$9.28M 0.02%
75,679
-8,107
-10% -$964K
KNX icon
681
Knight Transportation
KNX
$11.9B
$9.21M 0.02%
233,216
-16,559
-7% -$717K
OMF icon
682
OneMain Financial
OMF
$7.51B
$9.21M 0.02%
163,070
-2,213
-1% -$131K
WSO icon
683
Watsco Inc
WSO
$12.9B
$9.18M 0.02%
22,701
+3,419
+18% +$1.46M
KMX icon
684
CarMax
KMX
$8.52B
$9.16M 0.02%
204,221
-15,687
-7% -$937K
DPZ icon
685
Domino's
DPZ
$11.6B
$9.14M 0.02%
21,175
-489
-2% -$222K
RS icon
686
Reliance Steel & Aluminium
RS
$21.7B
$9.12M 0.02%
32,463
-7,769
-19% -$2.33M
ACM icon
687
Aecom
ACM
$8.19B
$9.11M 0.02%
69,803
-6,436
-8% -$777K
BROS icon
688
Dutch Bros
BROS
$8.93B
$9.08M 0.02%
173,477
+12,023
+7% +$760K
MTSI icon
689
MACOM Technology Solutions
MTSI
$23.5B
$9.08M 0.02%
72,911
+5,067
+7% +$669K
PLXS icon
690
Plexus
PLXS
$7.04B
$9.07M 0.02%
62,716
+2,702
+5% +$365K
MRUS
691
DELISTED
Merus
MRUS
$9.06M 0.02%
96,224
-53,319
-36% -$3.47M
EWY icon
692
iShares MSCI South Korea ETF
EWY
$27.6B
$9.04M 0.02%
112,800
-26,200
-19% -$1.95M
CAG icon
693
Conagra Brands
CAG
$7.39B
$9.03M 0.02%
492,990
+52,987
+12% +$1.02M
IWM icon
694
iShares Russell 2000 ETF
IWM
$82.4B
$9.02M 0.02%
37,260
+13,745
+58% +$3.15M
ELF icon
695
e.l.f. Beauty
ELF
$5.43B
$9.01M 0.02%
67,998
-5,498
-7% -$678K
AXS icon
696
AXIS Capital
AXS
$7.3B
$8.97M 0.02%
93,627
+38
+0% +$3.68K
WK icon
697
Workiva
WK
$4.01B
$8.95M 0.02%
104,021
+147
+0.1% +$11K
COO icon
698
Cooper Companies
COO
$14.9B
$8.95M 0.02%
130,595
+6,440
+5% +$456K
WMS icon
699
Advanced Drainage Systems
WMS
$11.3B
$8.94M 0.02%
64,420
+6,840
+12% +$898K
PIPR icon
700
Piper Sandler
PIPR
$5.54B
$8.91M 0.02%
102,660
+2,400
+2% +$196K
26 27
28
29 30

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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.