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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
XOP icon
326
CALL
State Street SPDR S&P Oil & Gas Exploration & Production ETF
XOP
$3.69B
$20.9M 0.05%
+166,400
New +$20M
ASHR icon
327
Xtrackers Harvest CSI 300 China A-Shares ETF
ASHR
$1.58B
$20.9M 0.05%
760,000
-510,000
-40% -$13.5M
BKR icon
328
Baker Hughes
BKR
$63B
$20.8M 0.05%
541,372
-236,006
-30% -$8.91M
WAL icon
329
Western Alliance Bancorporation
WAL
$8.92B
$20.7M 0.05%
265,599
-4,565
-2% -$328K
ODFL icon
330
Old Dominion Freight Line
ODFL
$44.7B
$20.6M 0.05%
126,738
+10,631
+9% +$1.7M
DDOG icon
331
Datadog
DDOG
$90.6B
$20.6M 0.05%
153,098
-4,369
-3% -$484K
ACGL icon
332
Arch Capital
ACGL
$33.5B
$20.5M 0.05%
225,295
-9,906
-4% -$914K
WBS icon
333
Webster Financial
WBS
$12.8B
$20.4M 0.05%
373,304
-7,197
-2% -$359K
OIH icon
334
VanEck Oil Services ETF
OIH
$1.95B
$20.3M 0.05%
88,307
-11,338
-11% -$2.55M
HIG icon
335
Hartford Financial Services
HIG
$37.8B
$20.3M 0.05%
160,275
-3,011
-2% -$374K
XYZ
336
Block Inc
XYZ
$49.9B
$20.3M 0.05%
298,127
-11,870
-4% -$691K
PHM icon
337
Pultegroup
PHM
$24.9B
$20.2M 0.05%
191,781
+42,171
+28% +$4.25M
WEC icon
338
WEC Energy
WEC
$35.9B
$20.2M 0.05%
193,500
-3,174
-2% -$338K
MCHP icon
339
Microchip Technology
MCHP
$42.2B
$20.1M 0.05%
286,251
-14,633
-5% -$804K
CHTR icon
340
Charter Communications
CHTR
$18.7B
$20.1M 0.05%
49,176
-2,876
-6% -$1.1M
ETR icon
341
Entergy
ETR
$49.9B
$20.1M 0.05%
241,710
-17,145
-7% -$1.42M
FTI icon
342
TechnipFMC
FTI
$30.1B
$19.9M 0.05%
578,329
-20,952
-3% -$632K
VICI icon
343
VICI Properties
VICI
$29B
$19.8M 0.05%
608,424
-15,129
-2% -$481K
LEN icon
344
Lennar Class A
LEN
$21.1B
$19.8M 0.05%
179,277
-89,784
-33% -$9.73M
A icon
345
Agilent Technologies
A
$42.2B
$19.7M 0.05%
167,304
-5,604
-3% -$621K
VTR icon
346
Ventas
VTR
$46.3B
$19.7M 0.05%
312,000
-45,566
-13% -$2.97M
CNC icon
347
Centene
CNC
$32.6B
$19.7M 0.05%
362,686
+39,715
+12% +$2.33M
BRO icon
348
Brown & Brown
BRO
$24B
$19.7M 0.05%
177,436
+20,443
+13% +$2.3M
CSL icon
349
Carlisle Companies
CSL
$14.9B
$19.7M 0.05%
52,663
-1,862
-3% -$691K
GIS icon
350
General Mills
GIS
$20.8B
$19.6M 0.05%
377,585
+311
+0.1% +$17.2K
12 13
14
15 16

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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.