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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
PL icon
2201
Planet Labs
PL
$8.82B
$130K ﹤0.01%
21,284
-154,396
-88% -$631K
ALTG icon
2202
Alta Equipment Group
ALTG
$234M
$129K ﹤0.01%
+20,391
New +$103K
LION icon
2203
Lionsgate Studios
LION
$3.49B
$128K ﹤0.01%
+22,086
New +$148K
CLVT icon
2204
Clarivate
CLVT
$1.25B
$127K ﹤0.01%
29,527
-3,294
-10% -$13.3K
IMMR icon
2205
Immersion
IMMR
$248M
$127K ﹤0.01%
+16,101
New +$120K
ADPT icon
2206
Adaptive Biotechnologies
ADPT
$3.89B
$124K ﹤0.01%
10,626
+545
+5% +$4.95K
CIFR icon
2207
Cipher Digital
CIFR
$6.9B
$123K ﹤0.01%
25,641
+5,680
+28% +$18.4K
VIR icon
2208
Vir Biotechnology
VIR
$1.52B
$119K ﹤0.01%
23,652
-34,494
-59% -$185K
EOSE icon
2209
Eos Energy Enterprises
EOSE
$1.51B
$117K ﹤0.01%
22,801
+1,756
+8% +$8.61K
SABR icon
2210
Sabre
SABR
$892M
$117K ﹤0.01%
36,925
-59,695
-62% -$153K
AFCG
2211
AFC Gamma
AFCG
$68.7M
$115K ﹤0.01%
+25,700
New +$132K
AVXL icon
2212
Anavex Life Sciences
AVXL
$303M
$114K ﹤0.01%
12,396
-29,386
-70% -$251K
TWO
2213
Two Harbors Investment
TWO
$1.26B
$111K ﹤0.01%
10,305
-502
-5% -$5.66K
DHC
2214
Diversified Healthcare Trust
DHC
$2.03B
$111K ﹤0.01%
30,985
+16,166
+109% +$46.6K
CLOV icon
2215
Clover Health Investments
CLOV
$2.38B
$109K ﹤0.01%
38,930
-2,231
-5% -$7.33K
PGRE
2216
DELISTED
Paramount Group
PGRE
$107K ﹤0.01%
17,493
-2,438
-12% -$12.7K
RPC
2217
Ridgepost Capital
RPC
$988M
$106K ﹤0.01%
10,345
-31,512
-75% -$338K
WENNU
2218
Wen Acquisition Corp Unit
WENNU
$273M
$106K ﹤0.01%
+10,000
New +$106K
JSPR icon
2219
Jasper Therapeutics
JSPR
$28.7M
$102K ﹤0.01%
18,353
+7,782
+74% +$38.3K
FIGXU
2220
FIGX Capital Acquisition Corp Units
FIGXU
$143M
$100K ﹤0.01%
+10,000
New +$100K
MFA
2221
MFA Financial
MFA
$931M
$99.3K ﹤0.01%
+10,498
New +$99.2K
KSS icon
2222
Kohl's
KSS
$2.22B
$99K ﹤0.01%
11,670
-906
-7% -$6.96K
SBH icon
2223
Sally Beauty Holdings
SBH
$1.55B
$98.2K ﹤0.01%
10,603
+590
+6% +$5.08K
METCB icon
2224
Ramaco Resources Class B
METCB
$406M
$98K ﹤0.01%
+12,622
New +$94.1K
DSGN icon
2225
Design Therapeutics
DSGN
$901M
$96.6K ﹤0.01%
28,662
+6,700
+31% +$25.1K
87 88
89
90 91

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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.