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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
VVV icon
1101
Valvoline
VVV
$4.25B
$3.24M 0.01%
90,175
+12,641
+16% +$482K
BYD icon
1102
Boyd Gaming
BYD
$6.03B
$3.23M 0.01%
37,343
-1,543
-4% -$130K
JBTM
1103
JBT Marel
JBTM
$6.15B
$3.22M 0.01%
22,893
+68
+0.3% +$9.29K
BKH icon
1104
Black Hills Corp
BKH
$5.64B
$3.21M 0.01%
52,197
-2,208
-4% -$130K
BILL icon
1105
BILL Holdings
BILL
$4.85B
$3.21M 0.01%
60,632
-20,709
-25% -$962K
MASI
1106
DELISTED
Masimo
MASI
$3.21M 0.01%
21,738
+94
+0.4% +$14.2K
GAP
1107
The Gap Inc
GAP
$7.29B
$3.2M 0.01%
149,617
+19,950
+15% +$431K
NEO icon
1108
NeoGenomics
NEO
$2.11B
$3.19M 0.01%
412,677
+104,839
+34% +$734K
MMS icon
1109
Maximus
MMS
$2.94B
$3.18M 0.01%
34,836
+69
+0.2% +$5.59K
MIR icon
1110
Mirion Technologies
MIR
$3.79B
$3.18M 0.01%
136,759
-17,015
-11% -$368K
OSIS icon
1111
OSI Systems
OSIS
$3.82B
$3.17M 0.01%
12,725
+44
+0.3% +$10K
RELY icon
1112
Remitly
RELY
$5.39B
$3.16M 0.01%
193,926
+32,890
+20% +$590K
PPLI
1113
People Inc
PPLI
$3.02B
$3.14M 0.01%
92,250
+29,678
+47% +$1.11M
AUPH icon
1114
Aurinia Pharmaceuticals
AUPH
$2.06B
$3.13M 0.01%
283,101
+20,766
+8% +$227K
ETSY icon
1115
Etsy
ETSY
$7.31B
$3.12M 0.01%
47,028
-18,541
-28% -$1.11M
NJR icon
1116
New Jersey Resources
NJR
$5.62B
$3.09M 0.01%
64,132
-176
-0.3% -$8.2K
FBIN icon
1117
Fortune Brands Innovations
FBIN
$5.83B
$3.06M 0.01%
57,275
-23,661
-29% -$1.33M
LAUR icon
1118
Laureate Education
LAUR
$5.1B
$3.03M 0.01%
96,206
+23,067
+32% +$604K
PAA icon
1119
Plains All American Pipeline
PAA
$16.4B
$3.03M 0.01%
+177,376
New +$3.18M
FORM icon
1120
FormFactor
FORM
$10.1B
$3.02M 0.01%
83,016
-18,506
-18% -$596K
HUT
1121
Hut 8
HUT
$10.2B
$3.02M 0.01%
86,767
+18,338
+27% +$466K
DAN icon
1122
Dana Inc
DAN
$3.26B
$3.02M 0.01%
150,504
+19,254
+15% +$357K
IRDM icon
1123
Iridium Communications
IRDM
$5.26B
$3.01M 0.01%
172,365
+254
+0.1% +$6.28K
ALKS icon
1124
Alkermes
ALKS
$8.44B
$3M 0.01%
99,936
+380
+0.4% +$10.7K
AMKR icon
1125
Amkor Technology
AMKR
$14.3B
$2.99M 0.01%
105,408
-45
-0% -$1.08K
43 44
45
46 47

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LP
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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.