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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
(+5.8%)
Cap. Flow
-$1.49B
Cap. Flow
% of AUM
-3.63%
Top 10 Holdings %
Top 10 Hldgs %
27.58%
Holding
2,442
New
201
Increased
735
Reduced
1,331
Closed
129
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Invesco S&P 500 Equal Weight ETF
RSP
|
+$390M |
| 2 |
Berkshire Hathaway Class A
BRK.A
|
+$107M |
| 3 |
State Street SPDR S&P Homebuilders ETF
XHB
|
+$38M |
| 4 |
Capital One
COF
|
+$29.9M |
| 5 |
Liberty Broadband Class A
LBRDA
|
+$28.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class A
GOOGL
|
+$398M |
| 2 |
NVIDIA
NVDA
|
+$120M |
| 3 |
Microsoft
MSFT
|
+$107M |
| 4 |
Apple
AAPL
|
+$94.7M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
76
Boston Scientific
BSX
$74.5B
| $86.7M | 0.21% |
806,736
-76,177
| -9% | -$7.71M |
|
77
Blackrock
BLK
$180B
| $86.6M | 0.21% |
82,523
-3,163
| -4% | -$2.99M |
|
78
Boeing
BA
$183B
| $86.1M | 0.21% |
410,984
-19,179
| -4% | -$3.62M |
|
79
Citigroup
C
$231B
| $86M | 0.21% |
1,010,917
-94,200
| -9% | -$6.81M |
|
80
Thermo Fisher Scientific
TMO
$223B
| $84.2M | 0.21% |
207,660
-21,434
| -9% | -$8.96M |
|
81
GE Vernova
GEV
$277B
| $83.4M | 0.2% |
157,572
-19,469
| -11% | -$8.11M |
|
|
82
Capital One
COF
$136B
| $82.1M | 0.2% |
386,004
+160,246
| +71% | +$29.9M |
|
83
Applied Materials
AMAT
$435B
| $81.7M | 0.2% |
446,332
-22,386
| -5% | -$3.55M |
|
84
Honeywell
HON
$74.6B
| $80.7M | 0.2% |
367,843
-19,916
| -5% | -$4.03M |
|
85
Amgen
AMGN
$225B
| $80.2M | 0.2% |
287,168
-15,048
| -5% | -$4.26M |
|
86
NextEra Energy
NEE
$179B
| $78.1M | 0.19% |
1,124,408
-62,357
| -5% | -$4.33M |
|
87
TJX Companies
TJX
$169B
| $76.4M | 0.19% |
618,529
-19,929
| -3% | -$2.53M |
|
88
Gilead Sciences
GILD
$168B
| $76.3M | 0.19% |
687,993
-37,920
| -5% | -$4.04M |
|
89
Stryker
SYK
$133B
| $75.4M | 0.18% |
190,477
-14,756
| -7% | -$5.52M |
|
90
Pfizer
PFE
$150B
| $74.9M | 0.18% |
3,091,254
-266,340
| -8% | -$6.21M |
|
91
Automatic Data Processing
ADP
$107B
| $74.8M | 0.18% |
242,576
-2,710
| -1% | -$832K |
|
92
Eaton
ETN
$179B
| $74.7M | 0.18% |
209,335
-14,604
| -7% | -$4.5M |
|
93
Comcast
CMCSA
$90.4B
| $74.3M | 0.18% |
2,082,123
-373,234
| -15% | -$12.9M |
|
94
Union Pacific
UNP
$174B
| $73.7M | 0.18% |
320,460
-20,106
| -6% | -$4.46M |
|
95
Micron Technology
MU
$1.03T
| $73.6M | 0.18% |
596,937
-29,478
| -5% | -$2.75M |
|
96
PUT
SPDR Gold Trust
GLD
$144B
| $73.2M | 0.18% |
240,000
| – | – |
|
97
Palo Alto Networks
PANW
$315B
| $72.4M | 0.18% |
353,647
-40,625
| -10% | -$7.54M |
|
98
Deere & Co
DE
$167B
| $70M | 0.17% |
137,752
-7,717
| -5% | -$3.78M |
|
99
Danaher
DHR
$145B
| $68.7M | 0.17% |
347,543
-21,455
| -6% | -$4.16M |
|
100
CrowdStrike
CRWD
$226B
| $67.4M | 0.16% |
529,516
-24,612
| -4% | -$2.67M |
|
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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.