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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 | |
|---|---|---|---|---|---|---|
2176
First Commonwealth Financial
FCF
$2.19B
| $165K | ﹤0.01% |
10,158
-884
| -8% | -$13.6K |
|
|
HBI
2177
DELISTED
Hanesbrands
HBI
| $164K | ﹤0.01% |
35,862
-254,569
| -88% | -$1.23M |
|
2178
Tilray
TLRY
$640M
| $163K | ﹤0.01% |
39,336
-1,625
| -4% | -$7.37K |
|
2179
Caleres
CAL
$461M
| $163K | ﹤0.01% |
+13,337
| New | +$200K |
|
2180
American Eagle Outfitters
AEO
$2.73B
| $163K | ﹤0.01% |
16,905
-2,512
| -13% | -$27K |
|
|
BULLW
2181
Webull Corp Warrants
BULLW
$109M
| $162K | ﹤0.01% |
+40,000
| New | +$118K |
|
2182
Certara
CERT
$1.24B
| $158K | ﹤0.01% |
13,520
-4,732
| -26% | -$56K |
|
2183
Northwest Bancshares
NWBI
$2.31B
| $157K | ﹤0.01% |
12,273
-1,184
| -9% | -$14.4K |
|
2184
E.W. Scripps
SSP
$310M
| $156K | ﹤0.01% |
53,000
+900
| +2% | +$2.17K |
|
2185
Virco
VIRC
$97.2M
| $154K | ﹤0.01% |
+19,300
| New | +$170K |
|
|
TRUE
2186
DELISTED
TrueCar
TRUE
| $154K | ﹤0.01% |
80,800
-20,000
| -20% | -$30.5K |
|
2187
Fortrea Holdings
FTRE
$1.69B
| $153K | ﹤0.01% |
30,929
-47,463
| -61% | -$255K |
|
2188
Adeia
ADEA
$3.16B
| $152K | ﹤0.01% |
10,774
-823
| -7% | -$10.6K |
|
2189
Sweetgreen
SG
$721M
| $152K | ﹤0.01% |
10,209
-42,123
| -80% | -$694K |
|
2190
Kodiak Sciences
KOD
$2.5B
| $150K | ﹤0.01% |
40,294
-33,574
| -45% | -$119K |
|
2191
Hillman Solutions
HLMN
$1.71B
| $149K | ﹤0.01% |
20,858
-351
| -2% | -$2.63K |
|
2192
Advantage Solutions
ADV
$423M
| $146K | ﹤0.01% |
4,424
-2,569
| -37% | -$84.6K |
|
2193
BRC Group Holdings
RILY
$303M
| $145K | ﹤0.01% |
+48,734
| New | +$150K |
|
2194
AMC Global Media
AMCX
$496M
| $141K | ﹤0.01% |
+22,542
| New | +$142K |
|
2195
Hope Bancorp
HOPE
$1.85B
| $141K | ﹤0.01% |
13,124
-717
| -5% | -$7.23K |
|
2196
AerSale
ASLE
$273M
| $141K | ﹤0.01% |
23,417
+6,982
| +42% | +$44.7K |
|
2197
TMC The Metals Company
TMC
$1.91B
| $140K | ﹤0.01% |
+21,274
| New | +$81.6K |
|
2198
Under Armour
UAA
$2.3B
| $133K | ﹤0.01% |
19,459
-1,520
| -7% | -$9.46K |
|
2199
Blend Labs
BLND
$367M
| $133K | ﹤0.01% |
40,255
+22,497
| +127% | +$76.2K |
|
2200
FuboTV Inc
FUBO
$296M
| $132K | ﹤0.01% |
2,853
-3,842
| -57% | -$144K |
|
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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.