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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
G icon
1001
Genpact
G
$5.7B
$4.5M 0.01%
107,494
+167
+0.2% +$7.34K
OUT icon
1002
Outfront Media
OUT
$5.29B
$4.45M 0.01%
242,944
+91
+0% +$1.65K
BIO icon
1003
Bio-Rad Laboratories Class A
BIO
$9.68B
$4.45M 0.01%
15,872
-230
-1% -$62.6K
QXO
1004
QXO Inc
QXO
$16.1B
$4.43M 0.01%
232,652
+57,458
+33% +$1.19M
BRKR icon
1005
Bruker
BRKR
$8.83B
$4.41M 0.01%
135,800
-3,980
-3% -$142K
PENG
1006
Penguin Solutions Inc
PENG
$3.12B
$4.38M 0.01%
166,609
+1,291
+0.8% +$31.6K
SNAP icon
1007
Snap
SNAP
$8.96B
$4.37M 0.01%
566,821
-21,752
-4% -$180K
GHC icon
1008
Graham Holdings Company
GHC
$5.03B
$4.35M 0.01%
3,699
-209
-5% -$216K
INGR icon
1009
Ingredion
INGR
$6.54B
$4.35M 0.01%
35,606
-250
-0.7% -$32.2K
CGNT icon
1010
Cognyte Software
CGNT
$675M
$4.34M 0.01%
517,115
+26,942
+5% +$238K
BSY icon
1011
Bentley Systems
BSY
$10.8B
$4.29M 0.01%
83,302
-3,639
-4% -$199K
ATMU icon
1012
Atmus Filtration Technologies
ATMU
$4.06B
$4.27M 0.01%
94,704
-77,925
-45% -$3.27M
ENS icon
1013
EnerSys
ENS
$6.81B
$4.22M 0.01%
37,384
+21,677
+138% +$2.13M
ESE icon
1014
ESCO Technologies
ESE
$7.78B
$4.22M 0.01%
19,973
+7,109
+55% +$1.41M
FIVE icon
1015
Five Below
FIVE
$13.2B
$4.14M 0.01%
26,789
+49
+0.2% +$6.93K
DAVE icon
1016
Dave Inc
DAVE
$4.03B
$4.12M 0.01%
20,662
+6,916
+50% +$1.49M
RYTM icon
1017
Rhythm Pharmaceuticals
RYTM
$8.1B
$4.12M 0.01%
40,776
+5,068
+14% +$471K
CYTK icon
1018
Cytokinetics
CYTK
$10.5B
$4.12M 0.01%
74,925
-5,039
-6% -$208K
CHWY icon
1019
Chewy
CHWY
$9.15B
$4.09M 0.01%
101,119
+626
+0.6% +$24.1K
LW icon
1020
Lamb Weston
LW
$7.3B
$4.08M 0.01%
70,234
+46
+0.1% +$2.51K
ACAD icon
1021
Acadia Pharmaceuticals
ACAD
$5.07B
$4.04M 0.01%
189,197
+2,836
+2% +$67.1K
H icon
1022
Hyatt Hotels
H
$16.8B
$4.03M 0.01%
28,395
-529
-2% -$75.9K
WULF icon
1023
TeraWulf
WULF
$8.14B
$4.02M 0.01%
352,082
-73,879
-17% -$564K
ALSN icon
1024
Allison Transmission
ALSN
$10.2B
$4.01M 0.01%
47,245
-27,775
-37% -$2.47M
PSN icon
1025
Parsons
PSN
$5.16B
$4M 0.01%
48,256
+18,405
+62% +$1.42M
39 40
41
42 43

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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.