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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 | |
|---|---|---|---|---|---|---|
201
Cloudflare
NET
$116B
| $35M | 0.08% |
163,257
-1,556
| -0.9% | -$318K |
|
202
Regeneron Pharmaceuticals
REGN
$82.9B
| $34.9M | 0.08% |
62,084
+5,072
| +9% | +$2.87M |
|
203
Hilton Worldwide
HLT
$72.5B
| $34.7M | 0.08% |
133,702
+5,837
| +5% | +$1.58M |
|
204
Colgate-Palmolive
CL
$74B
| $34.4M | 0.08% |
430,712
+680
| +0.2% | +$58K |
|
205
United Rentals
URI
$69.4B
| $34.2M | 0.08% |
35,870
-675
| -2% | -$601K |
|
206
Cummins
CMI
$87.3B
| $33.9M | 0.08% |
80,262
-2,012
| -2% | -$771K |
|
207
Phillips 66
PSX
$91B
| $33.8M | 0.08% |
248,701
-8,562
| -3% | -$1.1M |
|
208
Republic Services
RSG
$66.2B
| $33.8M | 0.08% |
147,162
-21,056
| -13% | -$4.94M |
|
209
United Parcel Service
UPS
$89.2B
| $33.5M | 0.08% |
401,339
-5,904
| -1% | -$535K |
|
210
Marriott International
MAR
$92.4B
| $33.2M | 0.08% |
127,484
-2,443
| -2% | -$656K |
|
211
American International
AIG
$39.8B
| $33.1M | 0.08% |
422,017
+16,666
| +4% | +$1.33M |
|
212
Idexx Laboratories
IDXX
$44.8B
| $33M | 0.08% |
51,687
+3,318
| +7% | +$2.01M |
|
213
EOG Resources
EOG
$74.6B
| $33M | 0.08% |
293,966
-6,294
| -2% | -$751K |
|
214
US Global Jets ETF
JETS
$832M
| $32.9M | 0.08% |
1,335,116
+163,091
| +14% | +$4.09M |
|
215
PayPal
PYPL
$51B
| $32.6M | 0.07% |
485,914
-15,597
| -3% | -$1.1M |
|
216
American Electric Power
AEP
$68.1B
| $32.5M | 0.07% |
288,826
-19,141
| -6% | -$2.09M |
|
217
Quanta Services
PWR
$102B
| $32.3M | 0.07% |
77,915
-1,153
| -1% | -$448K |
|
218
Simon Property Group
SPG
$71.7B
| $32.2M | 0.07% |
171,643
-2,521
| -1% | -$435K |
|
219
Air Products & Chemicals
APD
$67.8B
| $31.9M | 0.07% |
117,081
-1,657
| -1% | -$480K |
|
220
Aflac
AFL
$60.6B
| $31.9M | 0.07% |
285,838
-6,143
| -2% | -$645K |
|
221
Baker Hughes
BKR
$63B
| $31.9M | 0.07% |
655,310
+113,938
| +21% | +$5.03M |
|
222
NXP Semiconductors
NXPI
$59.2B
| $31.7M | 0.07% |
139,083
+1,978
| +1% | +$445K |
|
223
Sempra
SRE
$56.5B
| $31.6M | 0.07% |
351,543
-7,940
| -2% | -$643K |
|
224
Allstate
ALL
$65.1B
| $31.6M | 0.07% |
147,293
-16,733
| -10% | -$3.38M |
|
225
Cencora
COR
$59.7B
| $31.6M | 0.07% |
101,129
-21,422
| -17% | -$6.3M |
|
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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.