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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
PNC icon
151
PNC Financial Services
PNC
$102B
$46.7M 0.11%
232,476
+15,227
+7% +$3.01M
USB icon
152
US Bancorp
USB
$101B
$45.9M 0.11%
948,768
+49,934
+6% +$2.36M
BNY
153
Bank of New York Mellon
BNY
$111B
$45.6M 0.1%
418,515
-27,724
-6% -$2.83M
MCO icon
154
Moody's
MCO
$82.8B
$45.4M 0.1%
95,191
+272
+0.3% +$137K
ELV icon
155
Elevance Health
ELV
$86.6B
$44.9M 0.1%
138,873
+13,916
+11% +$4.33M
KKR icon
156
KKR & Co
KKR
$99.5B
$44.7M 0.1%
344,205
+12,018
+4% +$1.71M
GEM icon
157
Goldman Sachs ActiveBeta Emerging Markets Equity ETF
GEM
$1.74B
$44.5M 0.1%
1,091,863
– –
NKE icon
158
Nike
NKE
$60.1B
$44.3M 0.1%
635,274
-7,615
-1% -$568K
MSTR icon
159
Strategy Inc
MSTR
$37.3B
$44.2M 0.1%
137,242
+5,040
+4% +$1.87M
MMM icon
160
3M
MMM
$94.8B
$43.9M 0.1%
283,008
-13,684
-5% -$2.11M
NOC icon
161
Northrop Grumman
NOC
$82B
$43.9M 0.1%
71,979
-9,511
-12% -$5.39M
CI icon
162
Cigna
CI
$73.3B
$43.3M 0.1%
150,329
+5,264
+4% +$1.56M
BATRK icon
163
Atlanta Braves Holdings Series B
BATRK
$3.4B
$42.8M 0.1%
1,028,858
+79,568
+8% +$3.51M
CRH icon
164
CRH
CRH
$65.2B
$42.6M 0.1%
355,420
-9,650
-3% -$1.02M
WMB icon
165
Williams Companies
WMB
$90.1B
$42.6M 0.1%
672,239
-36,357
-5% -$2.13M
GD icon
166
General Dynamics
GD
$107B
$42.3M 0.1%
124,109
+2,347
+2% +$740K
HWM icon
167
Howmet Aerospace
HWM
$112B
$42.3M 0.1%
215,388
-17,077
-7% -$3.11M
AJG icon
168
Arthur J. Gallagher & Co
AJG
$65.5B
$42.2M 0.1%
136,177
-7,935
-6% -$2.39M
EQIX icon
169
Equinix
EQIX
$105B
$42M 0.1%
53,581
-7,343
-12% -$5.74M
SPY icon
170
State Street SPDR S&P 500 ETF Trust
SPY
$809B
$41.6M 0.1%
62,475
+11,589
+23% +$7.43M
TEL icon
171
TE Connectivity
TEL
$62B
$41.6M 0.1%
189,487
+2,533
+1% +$508K
UHAL.B icon
172
U-Haul Holding Co Series N
UHAL.B
$12.7B
$41.6M 0.1%
816,780
+69,666
+9% +$3.71M
ADSK icon
173
Autodesk
ADSK
$52.7B
$41.3M 0.09%
130,140
+1,827
+1% +$557K
RBLX icon
174
Roblox
RBLX
$25.4B
$41.3M 0.09%
298,056
+12,196
+4% +$1.52M
WBD icon
175
Warner Bros
WBD
$69.3B
$40.8M 0.09%
2,087,040
+95,961
+5% +$1.31M
5 6
7
8 9

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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.