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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
IBKR icon
476
Interactive Brokers
IBKR
$41.4B
$14.1M 0.03%
254,588
-43,104
-14% -$2.04M
DEM icon
477
WisdomTree Emerging Markets High Dividend Fund
DEM
$3.98B
$14.1M 0.03%
311,419
– –
RVTY icon
478
Revvity
RVTY
$13.1B
$14.1M 0.03%
145,312
+30,943
+27% +$2.92M
STZ icon
479
Constellation Brands
STZ
$23.3B
$14M 0.03%
86,298
-4,876
-5% -$875K
FE icon
480
FirstEnergy
FE
$27.1B
$13.9M 0.03%
345,751
+19,546
+6% +$806K
PPL
481
PPL Corp
PPL
$26.8B
$13.9M 0.03%
410,671
-116,365
-22% -$4.05M
ARMK icon
482
Aramark
ARMK
$16.1B
$13.9M 0.03%
331,700
+9,563
+3% +$355K
LDOS icon
483
Leidos
LDOS
$17.9B
$13.8M 0.03%
87,570
-21,697
-20% -$3.21M
TWLO icon
484
Twilio
TWLO
$38.3B
$13.8M 0.03%
110,894
+1,493
+1% +$159K
PLNT icon
485
Planet Fitness
PLNT
$3.71B
$13.7M 0.03%
125,833
+9,342
+8% +$936K
PKG icon
486
Packaging Corp of America
PKG
$22.9B
$13.7M 0.03%
72,725
+5,319
+8% +$1.01M
EGP icon
487
EastGroup Properties
EGP
$11B
$13.7M 0.03%
81,742
-4,514
-5% -$751K
CFG icon
488
Citizens Financial Group
CFG
$31.2B
$13.7M 0.03%
305,263
-93,994
-24% -$3.7M
PPG icon
489
PPG Industries
PPG
$25.5B
$13.6M 0.03%
119,767
-11,412
-9% -$1.23M
EPAM icon
490
EPAM Systems
EPAM
$5.24B
$13.6M 0.03%
77,017
+18,106
+31% +$3.03M
HST icon
491
Host Hotels & Resorts
HST
$15.6B
$13.6M 0.03%
886,589
-95,538
-10% -$1.42M
MOH icon
492
Molina Healthcare
MOH
$10.7B
$13.6M 0.03%
45,653
+5,156
+13% +$1.62M
ESI icon
493
Element Solutions
ESI
$9.51B
$13.6M 0.03%
600,387
-5,528
-0.9% -$116K
LH icon
494
Labcorp
LH
$26.2B
$13.6M 0.03%
51,775
-1,337
-3% -$326K
CF icon
495
CF Industries
CF
$17.7B
$13.6M 0.03%
147,542
+40,165
+37% +$3.42M
WSM icon
496
Williams-Sonoma
WSM
$28.5B
$13.6M 0.03%
83,077
+10,523
+15% +$1.65M
ZBRA icon
497
Zebra Technologies
ZBRA
$18B
$13.5M 0.03%
43,879
+14,654
+50% +$3.98M
BJ icon
498
BJs Wholesale Club
BJ
$11.9B
$13.5M 0.03%
125,303
-5,740
-4% -$654K
ADC icon
499
Agree Realty
ADC
$9.34B
$13.5M 0.03%
184,527
-14,335
-7% -$1.08M
NBIX icon
500
Neurocrine Biosciences
NBIX
$15.3B
$13.4M 0.03%
106,910
-4,475
-4% -$513K
18 19
20
21 22

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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.