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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
(+6.5%)
Cap. Flow
-$296M
Cap. Flow
% of AUM
-0.68%
Top 10 Holdings %
Top 10 Hldgs %
29.38%
Holding
2,561
New
248
Increased
889
Reduced
1,164
Closed
195
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Invesco S&P 500 Equal Weight ETF
RSP
|
+$108M |
| 2 |
Berkshire Hathaway Class A
BRK.A
|
+$88M |
| 3 |
Zillow
ZG
|
+$57.7M |
| 4 |
Brookfield Renewable
BEP
|
+$55M |
| 5 |
Fox Class B
FOX
|
+$45.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$53.8M |
| 2 |
NVIDIA
NVDA
|
+$52.1M |
| 3 |
HES
Hess
HES
|
+$43.8M |
| 4 |
Microsoft
MSFT
|
+$41.6M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
1626
Navitas Semiconductor
NVTS
$3.57B
| $771K | ﹤0.01% |
+106,810
| New | +$715K |
|
1627
Argan
AGX
$7.84B
| $770K | ﹤0.01% |
2,851
-1,358
| -32% | -$311K |
|
1628
F&G Annuities & Life
FG
$3.59B
| $766K | ﹤0.01% |
24,495
-23,134
| -49% | -$764K |
|
1629
Tilray
TLRY
$640M
| $757K | ﹤0.01% |
43,754
+4,418
| +11% | +$42.3K |
|
1630
Fluence Energy
FLNC
$2.44B
| $755K | ﹤0.01% |
69,953
-69,797
| -50% | -$583K |
|
1631
FMC
FMC
$1.27B
| $751K | ﹤0.01% |
22,334
-2,360
| -10% | -$92.1K |
|
1632
Atkore
ATKR
$3.17B
| $751K | ﹤0.01% |
11,969
-25,200
| -68% | -$1.64M |
|
1633
Marcus & Millichap
MMI
$1.2B
| $750K | ﹤0.01% |
25,566
-1,165
| -4% | -$36.6K |
|
1634
Genworth Financial
GNW
$3.77B
| $749K | ﹤0.01% |
84,193
+41,668
| +98% | +$344K |
|
1635
Forum Energy Technologies
FET
$927M
| $746K | ﹤0.01% |
+27,941
| New | +$645K |
|
1636
Champion Homes
SKY
$5.23B
| $739K | ﹤0.01% |
9,682
-4,607
| -32% | -$325K |
|
1637
Acushnet Holdings
GOLF
$5.25B
| $733K | ﹤0.01% |
9,339
-502
| -5% | -$39K |
|
1638
Cullen/Frost Bankers
CFR
$10.5B
| $732K | ﹤0.01% |
5,777
+21
| +0.4% | +$2.73K |
|
1639
Sierra Bancorp
BSRR
$532M
| $729K | ﹤0.01% |
25,200
-1,600
| -6% | -$48.3K |
|
1640
Triumph Financial Inc
TFIN
$1.87B
| $728K | ﹤0.01% |
14,554
-10,612
| -42% | -$625K |
|
|
HDSN
1641
Hudson Technologies
HDSN
$239M
| $723K | ﹤0.01% |
72,827
-27,370
| -27% | -$257K |
|
1642
United Fire Group
UFCS
$1.38B
| $721K | ﹤0.01% |
23,692
+5,400
| +30% | +$159K |
|
1643
Jackson Financial
JXN
$9.1B
| $717K | ﹤0.01% |
7,086
-6,020
| -46% | -$562K |
|
1644
Commerce Bancshares
CBSH
$8.61B
| $715K | ﹤0.01% |
12,558
-244
| -2% | -$14.3K |
|
1645
TPG
TPG
$8.86B
| $711K | ﹤0.01% |
12,382
-6
| -0% | -$354 |
|
1646
Frontier Group Holdings
ULCC
$1.57B
| $709K | ﹤0.01% |
160,550
+22,954
| +17% | +$104K |
|
|
IAS
1647
DELISTED
Integral Ad Science
IAS
| $709K | ﹤0.01% |
69,672
| – | – |
|
1648
SLM Corp
SLM
$5.22B
| $708K | ﹤0.01% |
25,576
-22,069
| -46% | -$689K |
|
1649
MasterBrand
MBC
$1.89B
| $706K | ﹤0.01% |
53,584
-51,905
| -49% | -$642K |
|
1650
Sana Biotechnology
SANA
$1.1B
| $704K | ﹤0.01% |
+198,179
| New | +$716K |
|
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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.