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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
HLNE icon
1801
Hamilton Lane
HLNE
$5.91B
$507K ﹤0.01%
3,764
-129
-3% -$19.5K
BFC icon
1802
Bank First Corp
BFC
$1.76B
$506K ﹤0.01%
+4,171
New +$519K
DYN icon
1803
Dyne Therapeutics
DYN
$4.85B
$505K ﹤0.01%
39,959
-39,395
-50% -$449K
PRO
1804
DELISTED
PROS Holdings
PRO
$505K ﹤0.01%
22,050
-38,837
-64% -$632K
INN
1805
Summit Hotel Properties
INN
$656M
$505K ﹤0.01%
92,015
-28,642
-24% -$156K
VTLE
1806
DELISTED
Vital Energy
VTLE
$503K ﹤0.01%
29,792
-64,542
-68% -$1.09M
JACK icon
1807
Jack in the Box
JACK
$358M
$503K ﹤0.01%
25,427
-33,217
-57% -$660K
KMT icon
1808
Kennametal
KMT
$2.32B
$502K ﹤0.01%
23,968
-10,209
-30% -$229K
LEU icon
1809
Centrus Energy
LEU
$3.83B
$501K ﹤0.01%
1,617
-2,470
-60% -$546K
AAT
1810
American Assets Trust
AAT
$1.41B
$501K ﹤0.01%
24,673
-71,223
-74% -$1.44M
LEG icon
1811
Leggett & Platt
LEG
$1.32B
$501K ﹤0.01%
56,402
-99,413
-64% -$947K
UBSI icon
1812
United Bankshares
UBSI
$6.68B
$501K ﹤0.01%
13,460
-16
-0.1% -$597
ESQ icon
1813
Esquire Financial Holdings
ESQ
$1.59B
$500K ﹤0.01%
4,902
-731
-13% -$72.1K
SKM icon
1814
SK Telecom
SKM
$14.1B
$498K ﹤0.01%
23,059
– –
PJT icon
1815
PJT Partners
PJT
$4.57B
$496K ﹤0.01%
2,792
+708
+34% +$127K
SMLR
1816
DELISTED
Semler Scientific
SMLR
$494K ﹤0.01%
+16,468
New +$567K
WLY icon
1817
John Wiley & Sons Class A
WLY
$2.63B
$493K ﹤0.01%
12,186
+3,286
+37% +$133K
ILPT
1818
Industrial Logistics Properties Trust
ILPT
$611M
$493K ﹤0.01%
+84,579
New +$487K
MEC icon
1819
Mayville Engineering Co
MEC
$597M
$493K ﹤0.01%
35,797
+11,500
+47% +$173K
CIM
1820
Chimera Investment
CIM
$993M
$489K ﹤0.01%
36,994
+16,183
+78% +$225K
LSTR icon
1821
Landstar System
LSTR
$6.4B
$488K ﹤0.01%
3,980
-3,642
-48% -$483K
JYNT icon
1822
The Joint Corp
JYNT
$119M
$487K ﹤0.01%
51,000
-200
-0.4% -$2.17K
ENR icon
1823
Energizer
ENR
$1.55B
$486K ﹤0.01%
19,543
-4,284
-18% -$112K
PLPC icon
1824
Preformed Line Products
PLPC
$2.19B
$484K ﹤0.01%
+2,470
New +$434K
LXFR icon
1825
Luxfer Holdings
LXFR
$457M
$483K ﹤0.01%
34,738
+1,400
+4% +$18K
71 72
73
74 75

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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.