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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
DSP icon
1601
Viant Technology
DSP
$264M
$817K ﹤0.01%
94,695
-12,800
-12% -$146K
AQST icon
1602
Aquestive Therapeutics
AQST
$531M
$816K ﹤0.01%
+146,022
New +$631K
DOX icon
1603
Amdocs
DOX
$6.08B
$816K ﹤0.01%
9,945
-100
-1% -$8.67K
WOR icon
1604
Worthington Enterprises
WOR
$2.78B
$815K ﹤0.01%
14,686
+2,691
+22% +$170K
CRK icon
1605
Comstock Resources
CRK
$4.09B
$812K ﹤0.01%
40,953
+32,636
+392% +$604K
IBOC icon
1606
International Bancshares
IBOC
$4.52B
$811K ﹤0.01%
11,803
-9,459
-44% -$661K
VERA icon
1607
Vera Therapeutics
VERA
$2.08B
$809K ﹤0.01%
27,844
-2,779
-9% -$64.3K
CMPR icon
1608
Cimpress
CMPR
$2.4B
$806K ﹤0.01%
12,785
+7,400
+137% +$415K
KALV
1609
DELISTED
KalVista Pharmaceuticals
KALV
$803K ﹤0.01%
65,960
-7,383
-10% -$102K
ACHR icon
1610
Archer Aviation
ACHR
$5.37B
$802K ﹤0.01%
83,721
+31,902
+62% +$316K
AUB icon
1611
Atlantic Union Bankshares
AUB
$6.09B
$801K ﹤0.01%
22,704
-11,494
-34% -$391K
CNX icon
1612
CNX Resources
CNX
$5.29B
$800K ﹤0.01%
24,914
+5,645
+29% +$173K
TDC icon
1613
Teradata
TDC
$2.49B
$795K ﹤0.01%
36,948
-2,913
-7% -$62.7K
PII icon
1614
Polaris
PII
$3.9B
$793K ﹤0.01%
13,639
+8,579
+170% +$463K
ANDE icon
1615
Andersons Inc
ANDE
$2.21B
$791K ﹤0.01%
19,857
+1,310
+7% +$50.5K
CWAN
1616
DELISTED
Clearwater Analytics
CWAN
$786K ﹤0.01%
43,599
+21,438
+97% +$435K
TNDM icon
1617
Tandem Diabetes Care
TNDM
$1.63B
$785K ﹤0.01%
64,681
-95,938
-60% -$1.3M
IVZ icon
1618
Invesco
IVZ
$13.9B
$780K ﹤0.01%
34,004
+314
+0.9% +$6.52K
BXC icon
1619
BlueLinx
BXC
$701M
$780K ﹤0.01%
10,673
-14,969
-58% -$1.18M
SMA
1620
SmartStop Self Storage REIT
SMA
$1.9B
$779K ﹤0.01%
+20,683
New +$752K
GNL icon
1621
Global Net Lease
GNL
$1.9B
$778K ﹤0.01%
95,725
-32,896
-26% -$251K
ICUI icon
1622
ICU Medical
ICUI
$4.58B
$777K ﹤0.01%
6,478
+2,083
+47% +$264K
SNDX icon
1623
Syndax Pharmaceuticals
SNDX
$1.77B
$774K ﹤0.01%
50,330
-90,783
-64% -$1.19M
CLW icon
1624
Clearwater Paper
CLW
$356M
$772K ﹤0.01%
37,196
+22,600
+155% +$546K
KRO icon
1625
KRONOS Worldwide
KRO
$905M
$772K ﹤0.01%
134,500
-10,945
-8% -$66.3K
63 64
65
66 67

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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.