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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
PINC
2076
DELISTED
Premier
PINC
$256K ﹤0.01%
11,661
+1,393
+14% +$30K
BLKB icon
2077
Blackbaud
BLKB
$2.1B
$256K ﹤0.01%
3,980
-300
-7% -$18.8K
BELFB
2078
Bel Fuse Inc Class B
BELFB
$4.13B
$255K ﹤0.01%
2,611
-2,784
-52% -$210K
VAL icon
2079
Valaris
VAL
$5.91B
$255K ﹤0.01%
6,048
-677
-10% -$25.5K
PRGS icon
2080
Progress Software
PRGS
$1.83B
$254K ﹤0.01%
3,982
-328
-8% -$19.9K
CMPR icon
2081
Cimpress
CMPR
$2.37B
$253K ﹤0.01%
+5,385
New +$235K
FRST icon
2082
Primis Financial Corp
FRST
$413M
$253K ﹤0.01%
23,300
+9,300
+66% +$85.6K
ACRE
2083
Ares Commercial Real Estate
ACRE
$264M
$251K ﹤0.01%
+52,657
New +$234K
OBAWU
2084
Oxley Bridge Acquisition Ltd Unit
OBAWU
$228M
$250K ﹤0.01%
+25,000
New +$250K
EE icon
2085
Excelerate Energy
EE
$1.12B
$250K ﹤0.01%
8,533
-15,257
-64% -$428K
RCUS icon
2086
Arcus Biosciences
RCUS
$3.67B
$250K ﹤0.01%
30,718
+878
+3% +$7.5K
TTSH
2087
DELISTED
Tile Shop Holdings
TTSH
$250K ﹤0.01%
39,300
+1,200
+3% +$7.22K
BANF icon
2088
BancFirst
BANF
$3.89B
$249K ﹤0.01%
2,014
-233
-10% -$27.7K
GEF.B icon
2089
Greif Class B
GEF.B
$4.22B
$248K ﹤0.01%
+3,600
New +$218K
GO icon
2090
Grocery Outlet
GO
$1.07B
$247K ﹤0.01%
19,924
-21,680
-52% -$308K
WAFD icon
2091
WaFd
WAFD
$2.81B
$247K ﹤0.01%
8,439
-220
-3% -$6.23K
WEN icon
2092
Wendy's
WEN
$1.65B
$246K ﹤0.01%
21,515
-63,431
-75% -$774K
FISI icon
2093
Financial Institutions
FISI
$825M
$245K ﹤0.01%
9,528
+1,305
+16% +$32.6K
YOU icon
2094
Clear Secure
YOU
$4.7B
$244K ﹤0.01%
8,789
-5,921
-40% -$151K
RMR icon
2095
The RMR Group
RMR
$346M
$244K ﹤0.01%
+14,900
New +$228K
HCC icon
2096
Warrior Met Coal
HCC
$4.98B
$243K ﹤0.01%
5,312
-140
-3% -$6.5K
THRY icon
2097
Thryv Holdings
THRY
$96.9M
$242K ﹤0.01%
+19,920
New +$257K
SITC icon
2098
SITE Centers
SITC
$158M
$242K ﹤0.01%
21,412
-13,090
-38% -$157K
RXST icon
2099
RxSight
RXST
$292M
$242K ﹤0.01%
18,593
-4,472
-19% -$67.2K
SBCF icon
2100
Seacoast Banking Corp of Florida
SBCF
$3.48B
$241K ﹤0.01%
8,730
-402
-4% -$9.93K
82 83
84
85 86

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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.