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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
GEHC icon
351
GE HealthCare
GEHC
$33.3B
$19.5M 0.05%
263,841
-20,760
-7% -$1.45M
CASY icon
352
Casey's General Stores
CASY
$31.6B
$19.2M 0.05%
37,723
-1,531
-4% -$706K
ACI icon
353
Albertsons Companies
ACI
$6.02B
$19.2M 0.05%
894,291
-8,018
-0.9% -$174K
DXCM icon
354
DexCom
DXCM
$34.5B
$19.2M 0.05%
219,978
-21,980
-9% -$1.72M
SYF icon
355
Synchrony
SYF
$26.1B
$18.9M 0.05%
282,501
-114,621
-29% -$6.41M
ARES icon
356
Ares Management
ARES
$33.7B
$18.8M 0.05%
108,798
+3,723
+4% +$589K
MPWR icon
357
Monolithic Power Systems
MPWR
$67B
$18.7M 0.05%
25,509
-1,956
-7% -$1.25M
RF icon
358
Regions Financial
RF
$27B
$18.6M 0.05%
791,212
+206,851
+35% +$4.38M
IRM icon
359
Iron Mountain
IRM
$37.7B
$18.5M 0.05%
180,666
-7,121
-4% -$671K
WY icon
360
Weyerhaeuser
WY
$17.9B
$18.5M 0.05%
718,895
+58,547
+9% +$1.53M
NTNX icon
361
Nutanix
NTNX
$18.4B
$18.5M 0.05%
241,497
-15,931
-6% -$1.15M
EXPE icon
362
Expedia Group
EXPE
$39.4B
$18.5M 0.05%
109,402
+13,833
+14% +$2.24M
EFX icon
363
Equifax
EFX
$21.8B
$18.4M 0.05%
71,130
+352
+0.5% +$89.5K
TEAM icon
364
Atlassian
TEAM
$42.1B
$18.4M 0.04%
90,570
-6,914
-7% -$1.44M
PBR.A icon
365
Petrobras Class A
PBR.A
$104B
$18.3M 0.04%
1,586,463
+506,274
+47% +$5.64M
GVA icon
366
Granite Construction
GVA
$5.41B
$18.2M 0.04%
194,661
-12,519
-6% -$1.05M
EVR icon
367
Evercore
EVR
$12B
$18.1M 0.04%
67,178
-2,712
-4% -$596K
NRG icon
368
NRG Energy
NRG
$25.2B
$18.1M 0.04%
112,844
-56,150
-33% -$7.4M
CBOE icon
369
Cboe Global Markets
CBOE
$30.6B
$18.1M 0.04%
77,535
+1,672
+2% +$372K
ROAD icon
370
Construction Partners
ROAD
$6.73B
$18.1M 0.04%
170,069
-27,890
-14% -$2.61M
CSGP icon
371
CoStar Group
CSGP
$13.4B
$18M 0.04%
224,417
-13,396
-6% -$1.04M
XYL icon
372
Xylem
XYL
$28.1B
$18M 0.04%
139,307
-5,922
-4% -$717K
ALE
373
DELISTED
Allete
ALE
$18M 0.04%
281,084
+5,337
+2% +$347K
MTB icon
374
M&T Bank
MTB
$36.6B
$18M 0.04%
92,824
-18,883
-17% -$3.33M
IR icon
375
Ingersoll Rand
IR
$32.7B
$18M 0.04%
216,113
-9,072
-4% -$715K
13 14
15
16 17

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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.