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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
HON icon
101
Honeywell
HON
$74.6B
$71.2M 0.16%
358,663
-9,180
-2% -$1.92M
SYK icon
102
Stryker
SYK
$133B
$69.5M 0.16%
187,993
-2,484
-1% -$960K
COP icon
103
ConocoPhillips
COP
$153B
$68.1M 0.16%
720,372
+11,571
+2% +$1.09M
DHR icon
104
Danaher
DHR
$145B
$67.8M 0.16%
342,175
-5,368
-2% -$1.07M
CRWD icon
105
CrowdStrike
CRWD
$226B
$67.7M 0.16%
552,000
+22,484
+4% +$2.56M
MDT icon
106
Medtronic
MDT
$116B
$67.3M 0.15%
706,238
-1,844
-0.3% -$170K
TMUS icon
107
T-Mobile US
TMUS
$190B
$66.2M 0.15%
276,355
+23,899
+9% +$5.79M
CMCSA icon
108
Comcast
CMCSA
$90.4B
$65.3M 0.15%
2,079,750
-2,373
-0.1% -$79.5K
ADI icon
109
Analog Devices
ADI
$187B
$65M 0.15%
264,536
-1,364
-0.5% -$328K
MUB icon
110
iShares National Muni Bond ETF
MUB
$45.9B
$64.7M 0.15%
607,800
– –
IVV icon
111
iShares Core S&P 500 ETF
IVV
$904B
$64M 0.15%
95,585
+23,065
+32% +$14.9M
ADP icon
112
Automatic Data Processing
ADP
$107B
$63.2M 0.15%
215,464
-27,112
-11% -$8.16M
DE icon
113
Deere & Co
DE
$167B
$61.9M 0.14%
135,308
-2,444
-2% -$1.2M
WELL icon
114
Welltower
WELL
$166B
$61.2M 0.14%
343,468
-26,853
-7% -$4.41M
MO icon
115
Altria Group
MO
$107B
$60.8M 0.14%
920,839
-15,242
-2% -$966K
XRT icon
116
State Street SPDR S&P Retail ETF
XRT
$639M
$58.7M 0.13%
681,480
-90,116
-12% -$7.51M
CB icon
117
Chubb
CB
$132B
$58.3M 0.13%
206,622
-9,433
-4% -$2.6M
VRTX icon
118
Vertex Pharmaceuticals
VRTX
$133B
$58.1M 0.13%
148,349
+5,411
+4% +$2.26M
LBRDA icon
119
Liberty Broadband Class A
LBRDA
$5.07B
$57.7M 0.13%
910,385
-72,549
-7% -$5.05M
MELI icon
120
Mercado Libre
MELI
$92.7B
$56.5M 0.13%
24,196
-170
-0.7% -$408K
PLD icon
121
Prologis
PLD
$134B
$55.8M 0.13%
487,614
-7,292
-1% -$802K
CEG icon
122
Constellation Energy
CEG
$98.7B
$55.8M 0.13%
169,547
+2,182
+1% +$704K
LMT icon
123
Lockheed Martin
LMT
$140B
$55.4M 0.13%
110,915
-3,858
-3% -$1.75M
EMB icon
124
iShares JPMorgan USD Emerging Markets Bond ETF
EMB
$14.9B
$55.2M 0.13%
580,000
– –
BEP icon
125
Brookfield Renewable
BEP
$10.3B
$55M 0.13%
+2,134,542
New +$55M
3 4
5
6 7

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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.