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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
MTN icon
1201
Vail Resorts
MTN
$5.29B
$2.41M 0.01%
15,341
-3,829
-20% -$569K
PAR icon
1202
PAR Technology
PAR
$770M
$2.41M 0.01%
34,707
-912
-3% -$57K
KLIC icon
1203
Kulicke & Soffa
KLIC
$5.01B
$2.4M 0.01%
+69,258
New +$2.25M
TRIP icon
1204
TripAdvisor
TRIP
$1.26B
$2.4M 0.01%
183,546
+36,004
+24% +$481K
MX icon
1205
Magnachip Semiconductor
MX
$137M
$2.39M 0.01%
600,017
– –
JBI icon
1206
Janus International
JBI
$664M
$2.39M 0.01%
293,271
+72,526
+33% +$553K
PTCT icon
1207
PTC Therapeutics
PTCT
$6.01B
$2.39M 0.01%
48,859
-17,913
-27% -$850K
MORN icon
1208
Morningstar
MORN
$7.41B
$2.38M 0.01%
7,589
-1,183
-13% -$350K
RGLD icon
1209
Royal Gold
RGLD
$19.1B
$2.38M 0.01%
13,361
-1,271
-9% -$225K
CREVW
1210
CALL
DELISTED
Carbon Revolution PLC Warrant
CREVW
$2.35M 0.01%
+833,400
New +$20.7K
CVLG icon
1211
Covenant Logistics
CVLG
$865M
$2.34M 0.01%
97,244
+8,155
+9% +$177K
SMR icon
1212
NuScale Power
SMR
$4.04B
$2.34M 0.01%
59,226
-11,346
-16% -$285K
EWT icon
1213
iShares MSCI Taiwan ETF
EWT
$11.6B
$2.34M 0.01%
40,800
– –
INVA icon
1214
Innoviva
INVA
$1.5B
$2.34M 0.01%
116,485
+51,610
+80% +$993K
PPLI
1215
People Inc
PPLI
$3.02B
$2.34M 0.01%
62,572
-13,244
-17% -$479K
KNSA icon
1216
Kiniksa Pharmaceuticals
KNSA
$6.07B
$2.33M 0.01%
84,067
-16,975
-17% -$432K
QLYS icon
1217
Qualys
QLYS
$6.47B
$2.31M 0.01%
16,202
-8,136
-33% -$1.08M
UCTT
1218
Ultra Clean Holdings
UCTT
$4.21B
$2.31M 0.01%
102,555
+30,508
+42% +$626K
FRT icon
1219
Federal Realty Investment Trust
FRT
$10.2B
$2.31M 0.01%
24,341
-8,301
-25% -$784K
SANM icon
1220
Sanmina
SANM
$11.2B
$2.31M 0.01%
23,626
-1,846
-7% -$153K
AMWD
1221
DELISTED
American Woodmark
AMWD
$2.31M 0.01%
+43,260
New +$2.44M
RH icon
1222
RH
RH
$3.41B
$2.31M 0.01%
12,214
+1,016
+9% +$189K
DOCN icon
1223
DigitalOcean
DOCN
$15.6B
$2.31M 0.01%
80,794
-2,541
-3% -$74.2K
CON
1224
Concentra Group Holdings
CON
$4.48B
$2.31M 0.01%
112,082
-4,144
-4% -$88.5K
HLX icon
1225
Helix Energy Solutions
HLX
$1.49B
$2.3M 0.01%
369,102
+178,606
+94% +$1.18M
47 48
49
50 51

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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.