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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
NSC icon
226
Norfolk Southern
NSC
$75.3B
$30.9M 0.08%
120,789
-6,469
-5% -$1.53M
AFL icon
227
Aflac
AFL
$60.5B
$30.8M 0.08%
291,981
-19,788
-6% -$2.08M
PSX icon
228
Phillips 66
PSX
$90B
$30.7M 0.07%
257,263
-41,544
-14% -$4.65M
AMP icon
229
Ameriprise Financial
AMP
$49.9B
$30.6M 0.07%
57,424
-7,992
-12% -$3.95M
FLUT icon
230
Flutter Entertainment
FLUT
$17B
$30.6M 0.07%
107,059
-7,076
-6% -$1.74M
APO icon
231
Apollo Global Management
APO
$81.9B
$30.3M 0.07%
213,272
-14,323
-6% -$1.9M
RBLX icon
232
Roblox
RBLX
$25.4B
$30.1M 0.07%
285,860
+12,168
+4% +$956K
NXPI icon
233
NXP Semiconductors
NXPI
$58.9B
$30M 0.07%
137,105
-27,279
-17% -$5.33M
REGN icon
234
Regeneron Pharmaceuticals
REGN
$82.2B
$29.9M 0.07%
57,012
-9,653
-14% -$5.39M
PWR icon
235
Quanta Services
PWR
$102B
$29.9M 0.07%
79,068
-4,112
-5% -$1.32M
LNG icon
236
Cheniere Energy
LNG
$55.4B
$29.6M 0.07%
121,527
-13,584
-10% -$3.15M
XEL icon
237
Xcel Energy
XEL
$49.1B
$29.5M 0.07%
432,576
+51,877
+14% +$3.6M
PCAR icon
238
PACCAR
PCAR
$69B
$29.2M 0.07%
307,310
-33,152
-10% -$3.06M
TRGP icon
239
Targa Resources
TRGP
$57.6B
$29.2M 0.07%
167,480
+5,001
+3% +$840K
VLO icon
240
Valero Energy
VLO
$95.1B
$29.1M 0.07%
216,287
-39,374
-15% -$4.91M
K
241
DELISTED
Kellanova
K
$29M 0.07%
364,952
+56,317
+18% +$4.6M
O icon
242
Realty Income
O
$59.2B
$28.8M 0.07%
499,729
-15,604
-3% -$882K
FIS icon
243
Fidelity National Information Services
FIS
$21.6B
$28.7M 0.07%
351,943
+7,801
+2% +$607K
MET icon
244
MetLife
MET
$61.4B
$28.5M 0.07%
354,099
+11,461
+3% +$884K
FDX icon
245
FedEx
FDX
$77.3B
$28.4M 0.07%
124,865
-7,501
-6% -$1.64M
GLW icon
246
Corning
GLW
$144B
$28.3M 0.07%
538,177
+28,367
+6% +$1.33M
LHX icon
247
L3Harris
LHX
$54.1B
$28.1M 0.07%
112,186
-6,940
-6% -$1.59M
ANSS
248
DELISTED
Ansys
ANSS
$28.1M 0.07%
79,920
-15,844
-17% -$5.19M
SPG icon
249
Simon Property Group
SPG
$71.4B
$28M 0.07%
174,164
-9,005
-5% -$1.42M
OKE icon
250
Oneok
OKE
$58.3B
$27.7M 0.07%
339,670
-95,715
-22% -$7.98M
8 9
10
11 12

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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.