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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 | |
|---|---|---|---|---|---|---|
2101
AngioDynamics
ANGO
$647M
| $240K | ﹤0.01% |
24,240
-21,100
| -47% | -$207K |
|
2102
Tencent Music
TME
$14.2B
| $240K | ﹤0.01% |
12,326
+382
| +3% | +$6K |
|
2103
First Financial Bancorp
FFBC
$3.6B
| $240K | ﹤0.01% |
9,895
-250
| -2% | -$5.93K |
|
|
DMC
2104
Del Monte Corp
DMC
$1.44B
| $240K | ﹤0.01% |
7,396
-26,014
| -78% | -$856K |
|
2105
Acco Brands
ACCO
$399M
| $239K | ﹤0.01% |
66,751
-8,277
| -11% | -$30.6K |
|
2106
HealthStream
HSTM
$849M
| $239K | ﹤0.01% |
+8,620
| New | +$255K |
|
2107
Douglas Emmett
DEI
$1.99B
| $237K | ﹤0.01% |
15,741
-32,935
| -68% | -$476K |
|
2108
Urban Edge Properties
UE
$2.78B
| $236K | ﹤0.01% |
12,627
-355
| -3% | -$6.49K |
|
2109
Olin
OLN
$2.17B
| $235K | ﹤0.01% |
11,691
-616
| -5% | -$12.8K |
|
2110
American Vanguard Corp
AVD
$62.8M
| $233K | ﹤0.01% |
59,400
-1,941
| -3% | -$8.1K |
|
2111
Lemonade
LMND
$4.1B
| $232K | ﹤0.01% |
5,297
-9,444
| -64% | -$315K |
|
|
YMAB
2112
DELISTED
Y-mAbs Therapeutics
YMAB
| $232K | ﹤0.01% |
+51,336
| New | +$231K |
|
2113
TriNet
TNET
$3.22B
| $231K | ﹤0.01% |
3,164
-244
| -7% | -$19.3K |
|
2114
Olema Pharmaceuticals
OLMA
$920M
| $231K | ﹤0.01% |
+54,177
| New | +$242K |
|
2115
Huron Consulting
HURN
$2.47B
| $231K | ﹤0.01% |
1,677
-3,692
| -69% | -$525K |
|
2116
Comstock Resources
CRK
$3.99B
| $230K | ﹤0.01% |
8,317
-62,605
| -88% | -$1.43M |
|
2117
United States Lime & Minerals
USLM
$3.37B
| $229K | ﹤0.01% |
2,297
-3,273
| -59% | -$320K |
|
2118
Hertz
HTZ
$838M
| $228K | ﹤0.01% |
33,369
+23,068
| +224% | +$144K |
|
2119
Pediatrix Medical
MD
$2.14B
| $226K | ﹤0.01% |
15,733
-17,239
| -52% | -$236K |
|
2120
Towne Bank
TOWN
$3.5B
| $225K | ﹤0.01% |
6,594
-888
| -12% | -$29.6K |
|
2121
Simmons First National
SFNC
$3.46B
| $224K | ﹤0.01% |
11,789
-1,467
| -11% | -$27.6K |
|
2122
Midland States Bancorp
MSBI
$698M
| $223K | ﹤0.01% |
+12,900
| New | +$218K |
|
2123
Alerus Financial
ALRS
$844M
| $223K | ﹤0.01% |
+10,303
| New | +$206K |
|
2124
GCM Grosvenor
GCMG
$2.85B
| $222K | ﹤0.01% |
19,185
-17,543
| -48% | -$217K |
|
2125
Matrix Service
MTRX
$328M
| $221K | ﹤0.01% |
+16,389
| New | +$198K |
|
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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.