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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
MKTX icon
876
MarketAxess Holdings
MKTX
$5.72B
$6.05M 0.01%
34,723
-5,257
-13% -$1.03M
CRBG icon
877
Corebridge Financial
CRBG
$15.3B
$6.05M 0.01%
188,773
-65,924
-26% -$2.25M
OGE icon
878
OGE Energy
OGE
$9.71B
$6.04M 0.01%
130,627
+264
+0.2% +$11.8K
JCAP
879
Jefferson Capital
JCAP
$1.33B
$6.04M 0.01%
350,000
– –
OII icon
880
Oceaneering
OII
$5.11B
$6.01M 0.01%
242,429
+20,510
+9% +$470K
RIVN icon
881
Rivian
RIVN
$22.9B
$6M 0.01%
408,889
-17,260
-4% -$231K
RGTI icon
882
Rigetti Computing
RGTI
$6.21B
$6M 0.01%
201,289
+18,634
+10% +$327K
HIW icon
883
Highwoods Properties
HIW
$3.51B
$5.98M 0.01%
188,044
+351
+0.2% +$10.7K
TGTX icon
884
TG Therapeutics
TGTX
$7.34B
$5.97M 0.01%
165,260
+8,941
+6% +$295K
PAGP icon
885
Plains GP Holdings
PAGP
$5.04B
$5.96M 0.01%
326,488
+603
+0.2% +$11.5K
BWA icon
886
BorgWarner
BWA
$13.8B
$5.95M 0.01%
135,367
-13,846
-9% -$553K
GTLB icon
887
GitLab
GTLB
$7.32B
$5.95M 0.01%
131,996
+978
+0.7% +$44.7K
SOLV icon
888
Solventum
SOLV
$14.7B
$5.92M 0.01%
81,091
+1,332
+2% +$97.6K
CMA
889
DELISTED
Comerica
CMA
$5.92M 0.01%
86,342
-3,109
-3% -$209K
EBC icon
890
Eastern Bankshares
EBC
$5.37B
$5.91M 0.01%
325,518
+39,670
+14% +$654K
CFLT
891
DELISTED
Confluent
CFLT
$5.88M 0.01%
296,771
+6,412
+2% +$134K
MGM icon
892
MGM Resorts International
MGM
$11.1B
$5.86M 0.01%
169,139
+10,383
+7% +$381K
GRAB icon
893
Grab
GRAB
$15.1B
$5.86M 0.01%
972,600
-317,400
-25% -$1.68M
MRNA icon
894
Moderna
MRNA
$25.4B
$5.84M 0.01%
226,244
+99
+0% +$2.76K
HALO icon
895
Halozyme
HALO
$11.4B
$5.82M 0.01%
79,357
-291
-0.4% -$19.3K
PATK icon
896
Patrick Industries
PATK
$2.78B
$5.81M 0.01%
56,156
+7,371
+15% +$775K
ERIE icon
897
Erie Indemnity
ERIE
$13.4B
$5.78M 0.01%
18,153
-477
-3% -$165K
WTRG icon
898
Essential Utilities
WTRG
$11.5B
$5.77M 0.01%
144,704
+2,796
+2% +$107K
HAPN
899
Happen Inc
HAPN
$2.27B
$5.74M 0.01%
378,186
-259,274
-41% -$3.93M
AMH icon
900
American Homes 4 Rent
AMH
$12.3B
$5.74M 0.01%
172,674
-38,940
-18% -$1.36M
34 35
36
37 38

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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.