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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
CDNA icon
1251
CareDx
CDNA
$2.45B
$2.15M 0.01%
110,264
-1,056
-0.9% -$18.8K
PSN icon
1252
Parsons
PSN
$5.16B
$2.14M 0.01%
29,851
+11,538
+63% +$762K
VVX icon
1253
V2X
VVX
$2.55B
$2.14M 0.01%
44,117
+13,660
+45% +$650K
SHLS icon
1254
Shoals Technologies Group
SHLS
$1.37B
$2.14M 0.01%
503,969
+170,295
+51% +$740K
ABG icon
1255
Asbury Automotive
ABG
$3.76B
$2.12M 0.01%
8,883
-67
-0.7% -$15.3K
CPRX
1256
DELISTED
Catalyst Pharmaceutical
CPRX
$2.12M 0.01%
97,471
-35,135
-26% -$829K
CALM icon
1257
Cal-Maine
CALM
$3.87B
$2.11M 0.01%
21,193
-3,296
-13% -$315K
MTCH icon
1258
Match Group
MTCH
$8.56B
$2.11M 0.01%
68,300
+18,848
+38% +$564K
RSI icon
1259
Rush Street Interactive
RSI
$2.85B
$2.11M 0.01%
141,579
-30,317
-18% -$376K
WSC icon
1260
WillScot Mobile Mini Holdings
WSC
$4.17B
$2.11M 0.01%
76,919
+22,947
+43% +$611K
NUVL
1261
DELISTED
Nuvalent
NUVL
$2.1M 0.01%
27,556
-13,118
-32% -$960K
GCT icon
1262
GigaCloud Technology
GCT
$1.9B
$2.1M 0.01%
106,104
+6,453
+6% +$103K
ADTN icon
1263
Adtran
ADTN
$665M
$2.07M 0.01%
231,106
+194,043
+524% +$1.55M
DRH icon
1264
Diamondrock Hospitality Co
DRH
$2.5B
$2.06M 0.01%
269,042
-13,554
-5% -$101K
JELD icon
1265
JELD-WEN Holding
JELD
$170M
$2.04M 0.01%
520,847
+401,468
+336% +$1.79M
ANF icon
1266
Abercrombie & Fitch
ANF
$4.84B
$2.04M 0.01%
24,637
-3,160
-11% -$240K
ZETA icon
1267
Zeta Global
ZETA
$7.44B
$2.03M 0.01%
131,191
-62,959
-32% -$836K
SMG icon
1268
ScottsMiracle-Gro
SMG
$3.62B
$2.03M 0.01%
30,762
+26,244
+581% +$1.52M
REXR icon
1269
Rexford Industrial Realty
REXR
$8.11B
$2.03M ﹤0.01%
56,988
-9,192
-14% -$321K
MLR icon
1270
Miller Industries
MLR
$643M
$2.02M ﹤0.01%
45,322
+4,634
+11% +$201K
CYH icon
1271
Community Health Systems
CYH
$410M
$2.01M ﹤0.01%
590,270
+331,970
+129% +$1.07M
LRN icon
1272
Stride
LRN
$3.27B
$2M ﹤0.01%
13,775
-6,751
-33% -$977K
WLK icon
1273
Westlake Corp
WLK
$10.2B
$1.97M ﹤0.01%
26,000
+353
+1% +$28.9K
AVDL
1274
DELISTED
Avadel Pharmaceuticals
AVDL
$1.97M ﹤0.01%
223,038
-2,130
-0.9% -$18.7K
AGIO icon
1275
Agios Pharmaceuticals
AGIO
$2.04B
$1.97M ﹤0.01%
59,100
-10,584
-15% -$321K
49 50
51
52 53

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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.