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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 | |
|---|---|---|---|---|---|---|
2126
LiveRamp
RAMP
$2.31B
| $220K | ﹤0.01% |
+6,669
| New | +$194K |
|
2127
Alkami Technology
ALKT
$2.22B
| $219K | ﹤0.01% |
7,267
-5,832
| -45% | -$162K |
|
|
CURB
2128
Curbline Properties
CURB
$3.46B
| $218K | ﹤0.01% |
9,552
-400
| -4% | -$9.2K |
|
|
NNE
2129
Nano Nuclear Energy
NNE
$1.1B
| $218K | ﹤0.01% |
+6,307
| New | +$174K |
|
2130
Acadia Realty Trust
AKR
$2.86B
| $217K | ﹤0.01% |
11,672
-19,056
| -62% | -$369K |
|
2131
LCI Industries
LCII
$2.6B
| $217K | ﹤0.01% |
2,376
-338
| -12% | -$28.8K |
|
2132
DXP Enterprises
DXPE
$3B
| $214K | ﹤0.01% |
2,437
-1,981
| -45% | -$165K |
|
2133
Forward Air
FWRD
$682M
| $213K | ﹤0.01% |
8,679
-7,579
| -47% | -$135K |
|
2134
Rackspace Technology
RXT
$1.1B
| $213K | ﹤0.01% |
166,200
+6,900
| +4% | +$8.99K |
|
2135
Concrete Pumping Holdings
BBCP
$475M
| $210K | ﹤0.01% |
34,200
-13,711
| -29% | -$87K |
|
2136
InvenTrust Properties
IVT
$2.62B
| $210K | ﹤0.01% |
7,675
-48
| -0.6% | -$1.33K |
|
2137
First Merchants
FRME
$2.72B
| $209K | ﹤0.01% |
5,448
-654
| -11% | -$24.2K |
|
|
MPT
2138
Medical Properties Trust
MPT
$2.51B
| $208K | ﹤0.01% |
48,332
-8,446
| -15% | -$41.7K |
|
2139
Tucows
TCX
$134M
| $207K | ﹤0.01% |
+10,500
| New | +$188K |
|
2140
Polaris
PII
$3.91B
| $206K | ﹤0.01% |
5,060
-4,861
| -49% | -$183K |
|
2141
BOK Financial
BOKF
$8.85B
| $205K | ﹤0.01% |
2,101
-153
| -7% | -$14.4K |
|
2142
Bank7 Corp
BSVN
$499M
| $205K | ﹤0.01% |
+4,900
| New | +$186K |
|
2143
AvePoint
AVPT
$2.91B
| $205K | ﹤0.01% |
10,596
-4,116
| -28% | -$71.4K |
|
2144
ImmunityBio
IBRX
$8.11B
| $204K | ﹤0.01% |
77,219
-6,967
| -8% | -$18.7K |
|
2145
MVB Financial
MVBF
$397M
| $203K | ﹤0.01% |
+9,000
| New | +$166K |
|
2146
Provident Financial Services
PFS
$3.26B
| $202K | ﹤0.01% |
11,530
-1,692
| -13% | -$28.1K |
|
2147
RingCentral
RNG
$5.66B
| $202K | ﹤0.01% |
+7,125
| New | +$184K |
|
2148
NBT Bancorp
NBTB
$2.79B
| $202K | ﹤0.01% |
4,850
-241
| -5% | -$10K |
|
2149
RE/MAX Holdings
RMAX
$265M
| $201K | ﹤0.01% |
24,555
+12,555
| +105% | +$97.5K |
|
2150
Joby Aviation
JOBY
$8.17B
| $198K | ﹤0.01% |
18,724
-30,440
| -62% | -$220K |
|
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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.