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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
NXST icon
701
Nexstar Media Group
NXST
$5.81B
$8.89M 0.02%
44,959
-2,318
-5% -$453K
MAA icon
702
Mid-America Apartment Communities
MAA
$15.6B
$8.89M 0.02%
63,607
-11,640
-15% -$1.68M
TNL icon
703
Travel + Leisure Co
TNL
$4.58B
$8.87M 0.02%
149,174
+552
+0.4% +$33.1K
HOLX
704
DELISTED
Hologic
HOLX
$8.87M 0.02%
131,466
-14,083
-10% -$935K
HAS icon
705
Hasbro
HAS
$13.6B
$8.87M 0.02%
116,956
+4,010
+4% +$311K
MKC icon
706
McCormick & Company Non-Voting
MKC
$14.6B
$8.87M 0.02%
132,559
-3,278
-2% -$230K
ALLY icon
707
Ally Financial
ALLY
$13.6B
$8.87M 0.02%
226,203
+41,584
+23% +$1.67M
CCK icon
708
Crown Holdings
CCK
$12.9B
$8.85M 0.02%
91,607
+18,446
+25% +$1.85M
PHR icon
709
Phreesia
PHR
$780M
$8.84M 0.02%
375,871
+12,789
+4% +$348K
TREE icon
710
LendingTree
TREE
$461M
$8.8M 0.02%
135,922
+3,714
+3% +$214K
FR icon
711
First Industrial Realty Trust
FR
$8.4B
$8.78M 0.02%
170,516
-645
-0.4% -$32.4K
MOH icon
712
Molina Healthcare
MOH
$10.7B
$8.74M 0.02%
45,696
+43
+0.1% +$7.92K
ESTC icon
713
Elastic
ESTC
$8.94B
$8.73M 0.02%
103,273
+179
+0.2% +$15.1K
BDC icon
714
Belden
BDC
$5.36B
$8.72M 0.02%
72,469
+21
+0% +$2.64K
KMPR icon
715
Kemper
KMPR
$1.59B
$8.7M 0.02%
168,697
-8,801
-5% -$494K
ECHO
716
EchoStar
ECHO
$26.6B
$8.69M 0.02%
113,760
+100,468
+756% +$4.55M
BURL icon
717
Burlington
BURL
$22.4B
$8.67M 0.02%
34,080
-2,270
-6% -$617K
FOXA icon
718
Fox Class A
FOXA
$27.5B
$8.67M 0.02%
137,497
-1,200
-0.9% -$69.4K
TRU icon
719
TransUnion
TRU
$15.5B
$8.61M 0.02%
102,800
-397
-0.4% -$36K
DT icon
720
Dynatrace
DT
$14.7B
$8.56M 0.02%
176,683
-9,442
-5% -$478K
FND icon
721
Floor & Decor
FND
$6.27B
$8.55M 0.02%
115,981
-10,183
-8% -$835K
CYBR
722
DELISTED
CyberArk
CYBR
$8.55M 0.02%
17,688
-9,000
-34% -$3.86M
DINO icon
723
HF Sinclair
DINO
$16.3B
$8.55M 0.02%
163,273
-21,735
-12% -$1.03M
DOCU
724
DocuSign
DOCU
$12.2B
$8.54M 0.02%
118,400
-42,794
-27% -$3.3M
FEM icon
725
First Trust Emerging Markets AlphaDEX Fund
FEM
$788M
$8.5M 0.02%
313,808
– –
27 28
29
30 31

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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.