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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
SWVLW icon
2276
Swvl Holdings Corp Warrant
SWVLW
$1.26K ﹤0.01%
93,367
– –
RBOT.WS
2277
DELISTED
Vicarious Surgical Inc Warrants
RBOT.WS
$1K ﹤0.01%
50,000
– –
PRENW
2278
Prenetics Global Ltd Warrant
PRENW
$118K
$540 ﹤0.01%
20,000
– –
KDKRW
2279
CALL
Kodiak AI Warrants
KDKRW
– –
-250,000
Closed -$2.83M
ACRE
2280
Ares Commercial Real Estate
ACRE
$262M
– –
-52,657
Closed -$251K
ACT icon
2281
Enact Holdings
ACT
$6.81B
– –
-17,542
Closed -$652K
ADPT icon
2282
Adaptive Biotechnologies
ADPT
$3.94B
– –
-10,626
Closed -$124K
ADV icon
2283
Advantage Solutions
ADV
$420M
– –
-4,424
Closed -$146K
AESI icon
2284
Atlas Energy Solutions
AESI
$1.49B
– –
-36,942
Closed -$494K
AFCG
2285
AFC Gamma
AFCG
$70.3M
– –
-25,700
Closed -$115K
AIN icon
2286
Albany International
AIN
$1.81B
– –
-10,255
Closed -$719K
ALKT icon
2287
Alkami Technology
ALKT
$2.15B
– –
-7,267
Closed -$219K
ALRS icon
2288
Alerus Financial
ALRS
$843M
– –
-10,303
Closed -$223K
ALTG icon
2289
Alta Equipment Group
ALTG
$246M
– –
-20,391
Closed -$129K
AMAL icon
2290
Amalgamated Financial
AMAL
$1.53B
– –
-20,613
Closed -$643K
OSG
2291
Octave Specialty Group
OSG
$210M
– –
-59,544
Closed -$423K
AMCX icon
2292
AMC Global Media
AMCX
$499M
– –
-22,542
Closed -$141K
AMED
2293
DELISTED
Amedisys
AMED
– –
-97,808
Closed -$9.62M
AMWD
2294
DELISTED
American Woodmark
AMWD
– –
-43,260
Closed -$2.31M
ANGI icon
2295
Angi Inc
ANGI
$180M
– –
-20,092
Closed -$307K
ANSS
2296
DELISTED
Ansys
ANSS
– –
-79,920
Closed -$28.1M
ARCT icon
2297
Arcturus Therapeutics
ARCT
$226M
– –
-100,098
Closed -$1.3M
ARR
2298
Armour Residential REIT
ARR
$2.37B
– –
-40,403
Closed -$679K
ASML icon
2299
ASML
ASML
$713B
– –
-1,500
Closed -$1.2M
AVD icon
2300
American Vanguard Corp
AVD
$64M
– –
-59,400
Closed -$233K
90 91
92
93 94

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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.