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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
MATV icon
1551
Mativ Holdings
MATV
$690M
$958K ﹤0.01%
84,703
-135,000
-61% -$1.34M
FUN icon
1552
Cedar Fair
FUN
$1.68B
$953K ﹤0.01%
41,949
-141,855
-77% -$3.77M
NEXT icon
1553
NextDecade
NEXT
$1.8B
$953K ﹤0.01%
140,283
+68,480
+95% +$662K
MZTI
1554
The Marzetti Company
MZTI
$3.18B
$948K ﹤0.01%
5,484
+3,515
+179% +$631K
TCMD icon
1555
Tactile Systems Technology
TCMD
$555M
$947K ﹤0.01%
68,457
-27,000
-28% -$325K
NTLA icon
1556
Intellia Therapeutics
NTLA
$1.66B
$943K ﹤0.01%
54,593
-174
-0.3% -$2.14K
AMBA icon
1557
Ambarella
AMBA
$3.66B
$943K ﹤0.01%
11,423
-14
-0.1% -$1.02K
CELC icon
1558
Celcuity
CELC
$4.49B
$939K ﹤0.01%
+19,013
New +$761K
AI icon
1559
C3.ai
AI
$1.58B
$935K ﹤0.01%
53,915
-11,934
-18% -$249K
PHLT
1560
DELISTED
Performant Healthcare Inc
PHLT
$933K ﹤0.01%
+120,680
New +$768K
LFST icon
1561
Lifestance Health
LFST
$4.67B
$928K ﹤0.01%
168,795
+156,250
+1,246% +$766K
MD icon
1562
Pediatrix Medical
MD
$2.15B
$928K ﹤0.01%
55,411
+39,678
+252% +$595K
LINC icon
1563
Lincoln Educational Services
LINC
$945M
$926K ﹤0.01%
39,397
+19,300
+96% +$414K
MNKD icon
1564
MannKind Corp
MNKD
$1.24B
$923K ﹤0.01%
171,791
-206,394
-55% -$905K
DOMO icon
1565
Domo
DOMO
$184M
$917K ﹤0.01%
+57,860
New +$896K
VCEL icon
1566
Vericel Corp
VCEL
$2.29B
$914K ﹤0.01%
29,053
+154
+0.5% +$5.53K
AUR icon
1567
Aurora
AUR
$13.4B
$910K ﹤0.01%
168,792
+545
+0.3% +$3.2K
DHC
1568
Diversified Healthcare Trust
DHC
$2.02B
$908K ﹤0.01%
206,005
+175,020
+565% +$667K
THS
1569
DELISTED
Treehouse Foods
THS
$902K ﹤0.01%
44,619
-31,367
-41% -$595K
SILA
1570
DELISTED
Sila Realty Trust
SILA
$900K ﹤0.01%
35,842
+92
+0.3% +$2.29K
ACA icon
1571
Arcosa
ACA
$7.12B
$899K ﹤0.01%
9,590
-8,713
-48% -$810K
HTZ icon
1572
Hertz
HTZ
$838M
$894K ﹤0.01%
131,448
+98,079
+294% +$630K
HTO
1573
H2O America
HTO
$2.62B
$893K ﹤0.01%
18,331
-1,960
-10% -$97.8K
SITC icon
1574
SITE Centers
SITC
$156M
$891K ﹤0.01%
98,875
+77,463
+362% +$823K
EE icon
1575
Excelerate Energy
EE
$1.12B
$888K ﹤0.01%
35,269
+26,736
+313% +$668K
61 62
63
64 65

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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.