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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
BHVN icon
1651
Biohaven
BHVN
$2.24B
$703K ﹤0.01%
46,867
-22,234
-32% -$324K
KOD icon
1652
Kodiak Sciences
KOD
$2.5B
$699K ﹤0.01%
42,688
+2,394
+6% +$20.6K
VCTR icon
1653
Victory Capital Holdings
VCTR
$7.27B
$696K ﹤0.01%
10,743
+6,562
+157% +$451K
KNSA icon
1654
Kiniksa Pharmaceuticals
KNSA
$6.07B
$694K ﹤0.01%
17,880
-66,187
-79% -$2.15M
PPC icon
1655
Pilgrim's Pride
PPC
$6.57B
$690K ﹤0.01%
16,952
-7,193
-30% -$326K
UVXY icon
1656
ProShares Ultra VIX Short-Term Futures ETF
UVXY
$278M
$689K ﹤0.01%
+13,200
New +$918K
GPRE icon
1657
Green Plains
GPRE
$1.09B
$688K ﹤0.01%
78,278
-328,111
-81% -$2.87M
BGC icon
1658
BGC Group
BGC
$5.2B
$687K ﹤0.01%
72,601
-84,605
-54% -$847K
SONO icon
1659
Sonos
SONO
$1.96B
$683K ﹤0.01%
43,258
-52,301
-55% -$671K
TIPT icon
1660
Tiptree Inc
TIPT
$677M
$682K ﹤0.01%
35,556
+1,194
+3% +$26.6K
PRVA icon
1661
Privia Health
PRVA
$2.78B
$682K ﹤0.01%
27,372
+3,964
+17% +$85.3K
BDN
1662
Brandywine Realty Trust
BDN
$542M
$679K ﹤0.01%
162,920
+16,830
+12% +$70.8K
NUVB icon
1663
Nuvation Bio
NUVB
$2.14B
$679K ﹤0.01%
183,516
+88,681
+94% +$242K
RIGL icon
1664
Rigel Pharmaceuticals
RIGL
$762M
$679K ﹤0.01%
23,958
-39,500
-62% -$1.18M
SENEA icon
1665
Seneca Foods Class A
SENEA
$1.31B
$675K ﹤0.01%
6,254
+3,472
+125% +$367K
AOMR
1666
Angel Oak Mortgage REIT
AOMR
$209M
$674K ﹤0.01%
71,884
+5,457
+8% +$52.2K
MCS icon
1667
Marcus Corp
MCS
$929M
$672K ﹤0.01%
+43,348
New +$695K
ORRF icon
1668
Orrstown Financial Services
ORRF
$855M
$671K ﹤0.01%
19,737
-11,209
-36% -$381K
STAG icon
1669
STAG Industrial
STAG
$7.12B
$668K ﹤0.01%
18,924
-87,740
-82% -$3.13M
AM icon
1670
Antero Midstream
AM
$10.5B
$666K ﹤0.01%
34,237
+184
+0.5% +$3.33K
TWI icon
1671
Titan International
TWI
$438M
$661K ﹤0.01%
87,410
+20,894
+31% +$186K
BRSP
1672
BrightSpire Capital
BRSP
$629M
$661K ﹤0.01%
121,677
-2,001
-2% -$10.9K
EFOR
1673
Everforth Inc
EFOR
$1.37B
$660K ﹤0.01%
13,945
-11,429
-45% -$583K
TCBX icon
1674
Third Coast Bancshares
TCBX
$766M
$660K ﹤0.01%
17,380
-1,300
-7% -$49.4K
LNC icon
1675
Lincoln National
LNC
$8.67B
$657K ﹤0.01%
16,282
+104
+0.6% +$4.02K
65 66
67
68 69

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LP
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HF
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RIM
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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.