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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
+13.3%
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
$41B
AUM Growth
+$2.26B
Cap. Flow
-$1.49B
Cap. Flow %
-3.63%
Top 10 Hldgs %
27.58%
Holding
2,442
New
201
Increased
735
Reduced
1,331
Closed
129

Top Buys

Rank Stock Value
1
RSP icon
Invesco S&P 500 Equal Weight ETF
RSP
+$390M
2
BRK.A icon
Berkshire Hathaway Class A
BRK.A
+$107M
3
XHB icon
State Street SPDR S&P Homebuilders ETF
XHB
+$38M
4
COF icon
Capital One
COF
+$29.9M
5
LBRDA icon
Liberty Broadband Class A
LBRDA
+$28.6M

Top Sells

Rank Stock Value
1
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$398M
2
NVDA icon
NVIDIA
NVDA
+$120M
3
MSFT icon
Microsoft
MSFT
+$107M
4
AAPL icon
Apple
AAPL
+$94.7M
5
ZG icon
Zillow
ZG
+$57.8M

Sector Composition

Rank Sector Weight
1 Technology 27.25%
2 Financials 12.9%
3 Communication Services 10.11%
4 Consumer Discretionary 9.5%
5 Industrials 8.88%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
OTIS icon
301
Otis Worldwide
OTIS
$27.9B
$23.3M 0.06%
235,322
+357
+0.2% +$34.5K
WRB icon
302
W.R. Berkley
WRB
$26.1B
$23.1M 0.06%
314,684
+107,072
+52% +$7.67M
ATI icon
303
ATI
ATI
$31.2B
$23.1M 0.06%
267,280
-37,117
-12% -$2.54M
CVNA icon
304
Carvana
CVNA
$82.1B
$23M 0.06%
341,645
-37,570
-10% -$2.06M
PEG icon
305
Public Service Enterprise Group
PEG
$37.8B
$23M 0.06%
273,263
-40,386
-13% -$3.26M
WAB icon
306
Wabtec
WAB
$50.1B
$23M 0.06%
109,634
-1,627
-1% -$313K
WBD icon
307
Warner Bros
WBD
$69.4B
$22.8M 0.06%
1,991,079
-23,720
-1% -$221K
NDAQ icon
308
Nasdaq
NDAQ
$54.1B
$22.8M 0.06%
254,653
-15,913
-6% -$1.27M
EA
309
DELISTED
Electronic Arts
EA
$22.4M 0.05%
140,103
-7,383
-5% -$1.09M
KVUE icon
310
Kenvue
KVUE
$36.8B
$22.4M 0.05%
1,068,867
-204,824
-16% -$4.66M
PRU icon
311
Prudential Financial
PRU
$42.9B
$22.2M 0.05%
206,733
-16,932
-8% -$1.75M
TYL icon
312
Tyler Technologies
TYL
$13.2B
$22.1M 0.05%
37,273
+1,390
+4% +$787K
CTRA
313
DELISTED
Coterra Energy
CTRA
$22.1M 0.05%
870,090
+79,044
+10% +$2M
YUM icon
314
Yum! Brands
YUM
$41.4B
$22M 0.05%
148,367
-7,398
-5% -$1.08M
LPLA icon
315
LPL Financial
LPLA
$29.5B
$21.9M 0.05%
58,489
+16,507
+39% +$5.78M
DHI icon
316
D.R. Horton
DHI
$41.7B
$21.8M 0.05%
169,450
-13,409
-7% -$1.65M
EWBC icon
317
East-West Bancorp
EWBC
$18.6B
$21.8M 0.05%
216,084
-22,147
-9% -$1.96M
TPL icon
318
Texas Pacific Land
TPL
$24B
$21.6M 0.05%
61,461
+1,854
+3% +$758K
CTSH icon
319
Cognizant
CTSH
$26.6B
$21.6M 0.05%
276,536
-2,894
-1% -$222K
RJF icon
320
Raymond James Financial
RJF
$34.8B
$21.5M 0.05%
139,953
+4,219
+3% +$604K
RMD icon
321
ResMed
RMD
$33B
$21.4M 0.05%
82,959
-12,921
-13% -$3.08M
ROK icon
322
Rockwell Automation
ROK
$49.7B
$21.3M 0.05%
64,041
-3,419
-5% -$974K
SF
323
Stifel
SF
$12.9B
$21.2M 0.05%
307,061
-4,894
-2% -$301K
CHD icon
324
Church & Dwight Co
CHD
$24B
$21.2M 0.05%
220,468
+1,809
+0.8% +$178K
DELL icon
325
Dell
DELL
$320B
$21.1M 0.05%
172,140
-8,204
-5% -$839K
11 12
13
14 15

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State of Wisconsin Investment Board's Q2 2025 Portfolio in Review

As of Q2 2025, State of Wisconsin Investment Board held 2,442 positions worth $41B, up 5.8% from $38.7B the previous quarter. Its ten largest holdings account for 28% of the portfolio.

State of Wisconsin Investment Board withdrew a net $1.49B in Q2 2025, closing 129 positions and reducing 1,331 holdings. Its most notable exit was Discover Financial Services, an estimated $25.4M position sold in full.

By sector, the portfolio is most concentrated in Technology at 27% of assets, up from 25% a quarter earlier, followed by Financials and Communication Services.

Against the trend, State of Wisconsin Investment Board opened a new position in State Street SPDR S&P Homebuilders ETF worth $39.4M.

  • State of Wisconsin Investment Board's largest Q2 2025 buy was State Street SPDR S&P Homebuilders ETF: 400,000 shares worth $39.4M.
  • State of Wisconsin Investment Board added most to Invesco S&P 500 Equal Weight ETF in Q2 2025, an estimated $390M increase.
  • State of Wisconsin Investment Board's biggest Q2 2025 reduction was Alphabet (Google) Class A, cutting an estimated $398M.
  • State of Wisconsin Investment Board fully exited Discover Financial Services in Q2 2025, selling an estimated $25.4M.
  • State of Wisconsin Investment Board's ten largest holdings make up 28% of its $41B portfolio in Q2 2025.
  • State of Wisconsin Investment Board opened 201 new positions and closed 129 in Q2 2025.
  • State of Wisconsin Investment Board's portfolio value rose 5.8% quarter-over-quarter to $41B.

Based on State of Wisconsin Investment Board's 13F filing for Q2 2025, filed 14 Aug 2025.