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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
GATX icon
1201
GATX Corp
GATX
$6.34B
$2.43M 0.01%
13,902
+1,803
+15% +$292K
LBRDK icon
1202
Liberty Broadband Class C
LBRDK
$5.07B
$2.42M 0.01%
38,102
-37,118
-49% -$2.59M
GTN icon
1203
Gray Television
GTN
$520M
$2.41M 0.01%
417,499
+2,300
+0.6% +$12.5K
CPS icon
1204
Cooper-Standard Automotive
CPS
$484M
$2.4M 0.01%
+65,121
New +$1.98M
JOBY icon
1205
Joby Aviation
JOBY
$8.17B
$2.4M 0.01%
148,476
+129,752
+693% +$1.97M
POST icon
1206
Post Holdings
POST
$3.65B
$2.39M 0.01%
22,250
-198
-0.9% -$21.2K
BTSG icon
1207
BrightSpring Health Services
BTSG
$11.9B
$2.39M 0.01%
80,850
+37,372
+86% +$869K
CRNX icon
1208
Crinetics Pharmaceuticals
CRNX
$8.96B
$2.38M 0.01%
57,025
-7,562
-12% -$242K
CRMD icon
1209
CorMedix
CRMD
$639M
$2.37M 0.01%
203,982
+146,500
+255% +$1.77M
SLVM icon
1210
Sylvamo
SLVM
$1.53B
$2.37M 0.01%
53,519
-6,318
-11% -$293K
ADTN icon
1211
Adtran
ADTN
$665M
$2.36M 0.01%
251,558
+20,452
+9% +$191K
CON
1212
Concentra Group Holdings
CON
$4.48B
$2.35M 0.01%
112,506
+424
+0.4% +$9.04K
BTU icon
1213
Peabody Energy
BTU
$2.94B
$2.35M 0.01%
88,683
-113,948
-56% -$2.03M
ARQT icon
1214
Arcutis Biotherapeutics
ARQT
$3.3B
$2.34M 0.01%
123,961
+34,082
+38% +$538K
SMR icon
1215
NuScale Power
SMR
$4.04B
$2.32M 0.01%
64,334
+5,108
+9% +$204K
NGVT icon
1216
Ingevity
NGVT
$2.62B
$2.32M 0.01%
41,948
+20,501
+96% +$1.07M
AKRO
1217
DELISTED
Akero Therapeutics
AKRO
$2.31M 0.01%
48,718
+15,172
+45% +$735K
PRCT icon
1218
Procept Biorobotics
PRCT
$1.26B
$2.31M 0.01%
64,591
-6,590
-9% -$301K
IESC icon
1219
IES Holdings
IESC
$15.3B
$2.3M 0.01%
5,775
– –
LEVI icon
1220
Levi Strauss
LEVI
$8.63B
$2.25M 0.01%
+96,654
New +$2.05M
BFAM icon
1221
Bright Horizons
BFAM
$3.76B
$2.25M 0.01%
20,721
+37
+0.2% +$4.29K
AAP icon
1222
Advance Auto Parts
AAP
$3.23B
$2.24M 0.01%
36,481
-34,840
-49% -$2.06M
SEM
1223
DELISTED
Select Medical
SEM
$2.24M 0.01%
174,314
-41,829
-19% -$557K
ARWR icon
1224
Arrowhead Research
ARWR
$12.3B
$2.24M 0.01%
64,875
+115
+0.2% +$2.53K
ALHC icon
1225
Alignment Healthcare
ALHC
$2.79B
$2.23M 0.01%
127,800
+60,399
+90% +$896K
47 48
49
50 51

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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.