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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
NVDA icon
1
NVIDIA
NVDA
$5.26T
$2.45B 5.62%
13,150,312
-298,997
-2% -$52.1M
AAPL icon
2
Apple
AAPL
$4.47T
$2.07B 4.75%
8,128,674
-238,162
-3% -$53.8M
MSFT icon
3
Microsoft
MSFT
$3.73T
$1.98B 4.55%
3,830,856
-81,527
-2% -$41.6M
RSP icon
4
Invesco S&P 500 Equal Weight ETF
RSP
$99.4B
$1.41B 3.23%
7,425,338
+579,500
+8% +$108M
AMZN icon
5
Amazon
AMZN
$2.93T
$1.13B 2.6%
5,160,971
-79,506
-2% -$18M
META icon
6
Meta Platforms (Facebook)
META
$1.54T
$863M 1.98%
1,175,599
-30,391
-3% -$22.6M
AVGO icon
7
Broadcom
AVGO
$1.99T
$813M 1.86%
2,463,222
-35,849
-1% -$11M
GOOGL icon
8
Alphabet (Google) Class A
GOOGL
$4.24T
$765M 1.75%
3,146,097
-69,498
-2% -$14.6M
TSLA icon
9
Tesla
TSLA
$1.31T
$679M 1.56%
1,527,844
-25,838
-2% -$8.96M
GOOG icon
10
Alphabet (Google) Class C
GOOG
$4.23T
$644M 1.48%
2,645,263
-72,910
-3% -$15.3M
JPM icon
11
JPMorgan Chase
JPM
$963B
$465M 1.07%
1,474,752
-56,908
-4% -$16.9M
BRK.A icon
12
Berkshire Hathaway Class A
BRK.A
$1.11T
$430M 0.99%
570
+121
+27% +$88M
FOX icon
13
Fox Class B
FOX
$23.2B
$419M 0.96%
7,312,845
+854,675
+13% +$45.1M
HAPI icon
14
Harbor Human Capital Factor US Large Cap ETF
HAPI
$507M
$397M 0.91%
9,871,200
– –
BRK.B icon
15
Berkshire Hathaway Class B
BRK.B
$1.11T
$359M 0.82%
714,907
-4,303
-0.6% -$2.08M
LLY icon
16
Eli Lilly
LLY
$1.09T
$329M 0.76%
431,824
-7,124
-2% -$5.3M
V icon
17
Visa
V
$678B
$317M 0.73%
928,834
-33,293
-3% -$11.5M
NFLX icon
18
Netflix
NFLX
$311B
$280M 0.64%
2,334,200
-96,800
-4% -$11.8M
MA icon
19
Mastercard
MA
$495B
$269M 0.62%
473,237
+11,846
+3% +$6.8M
ISTB icon
20
iShares Core 1-5 Year USD Bond ETF
ISTB
$5.12B
$256M 0.59%
5,241,225
+112,600
+2% +$5.48M
XOM icon
21
ExxonMobil
XOM
$656B
$255M 0.59%
2,265,965
-88,938
-4% -$9.89M
ORCL icon
22
Oracle
ORCL
$417B
$250M 0.57%
890,489
-8,489
-0.9% -$2.16M
ARKK icon
23
ARK Innovation ETF
ARKK
$6.37B
$242M 0.55%
2,804,304
+129,568
+5% +$9.9M
WMT icon
24
Walmart Inc
WMT
$896B
$241M 0.55%
2,334,644
-48,455
-2% -$4.82M
JNJ icon
25
Johnson & Johnson
JNJ
$625B
$239M 0.55%
1,286,444
-56,406
-4% -$9.66M
1
2 3 4 5

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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.