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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
GRBK icon
1776
Green Brick Partners
GRBK
$3.04B
$527K ﹤0.01%
7,132
-706
-9% -$48.2K
AEHR icon
1777
Aehr Test Systems
AEHR
$4.02B
$527K ﹤0.01%
+17,488
New +$379K
JHG
1778
DELISTED
Janus Henderson
JHG
$526K ﹤0.01%
11,824
+31
+0.3% +$1.34K
HNGE
1779
Hinge Health
HNGE
$7.05B
$526K ﹤0.01%
+10,709
New +$560K
AKBA icon
1780
Akebia Therapeutics
AKBA
$241M
$525K ﹤0.01%
+192,448
New +$640K
SFST icon
1781
Southern First Bancshares
SFST
$612M
$525K ﹤0.01%
11,900
+2,600
+28% +$111K
NATH icon
1782
Nathan's Famous
NATH
$397M
$523K ﹤0.01%
+4,724
New +$495K
XOMA
1783
DELISTED
Xoma
XOMA
$523K ﹤0.01%
+13,571
New +$421K
AISP
1784
Airship AI Holdings
AISP
$66.8M
$523K ﹤0.01%
+101,100
New +$520K
ALX
1785
Alexander's
ALX
$1.4B
$522K ﹤0.01%
2,226
+1,071
+93% +$252K
UNTY icon
1786
Unity Bancorp
UNTY
$620M
$519K ﹤0.01%
+10,628
New +$540K
ADAM
1787
Adamas Trust
ADAM
$907M
$519K ﹤0.01%
+74,472
New +$518K
CECO icon
1788
Ceco Environmental
CECO
$4.5B
$518K ﹤0.01%
10,121
-4,767
-32% -$202K
CAPR icon
1789
Capricor Therapeutics
CAPR
$244M
$516K ﹤0.01%
+71,555
New +$527K
SB icon
1790
Safe Bulkers
SB
$781M
$516K ﹤0.01%
116,121
-51,500
-31% -$218K
MYE icon
1791
Myers Industries
MYE
$1.25B
$516K ﹤0.01%
+30,433
New +$483K
BH icon
1792
Biglari Holdings Class B
BH
$1.22B
$514K ﹤0.01%
+1,588
New +$485K
LFMD icon
1793
LifeMD
LFMD
$167M
$513K ﹤0.01%
+75,502
New +$624K
FBNC icon
1794
First Bancorp
FBNC
$2.74B
$512K ﹤0.01%
+9,688
New +$496K
PLTK icon
1795
Playtika
PLTK
$961M
$512K ﹤0.01%
+131,500
New +$537K
VNDA icon
1796
Vanda Pharmaceuticals
VNDA
$304M
$511K ﹤0.01%
102,393
-16,600
-14% -$76.8K
VICR icon
1797
Vicor
VICR
$10.4B
$510K ﹤0.01%
+10,261
New +$500K
RBCAA icon
1798
Republic Bancorp
RBCAA
$1.92B
$509K ﹤0.01%
7,047
+1,419
+25% +$105K
ATEC icon
1799
Alphatec Holdings
ATEC
$1.51B
$507K ﹤0.01%
34,896
-13,417
-28% -$187K
MC icon
1800
Moelis & Co
MC
$5.21B
$507K ﹤0.01%
7,114
-6,093
-46% -$435K
70 71
72
73 74

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LP
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Holocene Advisors
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HF
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Aristotle Capital Management
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Parallax Volatility Advisers
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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.