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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
URI icon
251
United Rentals
URI
$70.3B
$27.5M 0.07%
36,545
-2,403
-6% -$1.61M
CRS icon
252
Carpenter Technology
CRS
$26.3B
$27.3M 0.07%
98,914
-9,287
-9% -$2.02M
FAST icon
253
Fastenal
FAST
$59.9B
$27.3M 0.07%
650,599
-50,813
-7% -$2.06M
SRE icon
254
Sempra
SRE
$56.2B
$27.2M 0.07%
359,483
-13,348
-4% -$991K
F icon
255
Ford
F
$55.1B
$27.2M 0.07%
2,508,084
+309,689
+14% +$3.15M
CMI icon
256
Cummins
CMI
$87.8B
$26.9M 0.07%
82,274
-11,700
-12% -$3.62M
JETS icon
257
US Global Jets ETF
JETS
$825M
$26.9M 0.07%
1,172,025
+93,091
+9% +$1.98M
EXE
258
Expand Energy Corp
EXE
$22.3B
$26.8M 0.07%
229,414
+5,756
+3% +$642K
KR icon
259
Kroger
KR
$34.3B
$26.8M 0.07%
373,445
-48,933
-12% -$3.38M
CAH icon
260
Cardinal Health
CAH
$54.5B
$26.7M 0.07%
158,934
+17,635
+12% +$2.62M
BDX icon
261
Becton Dickinson
BDX
$50B
$26.6M 0.07%
154,711
-10,074
-6% -$1.85M
SYY icon
262
Sysco
SYY
$40.5B
$26.6M 0.07%
351,496
-33,382
-9% -$2.42M
D icon
263
Dominion Energy
D
$59.8B
$26.5M 0.06%
468,847
-39,346
-8% -$2.16M
FICO icon
264
Fair Isaac
FICO
$22.6B
$26.4M 0.06%
14,440
-1,486
-9% -$2.79M
EQT icon
265
EQT Corp
EQT
$33.8B
$26.1M 0.06%
447,926
-57,881
-11% -$3.12M
IDXX icon
266
Idexx Laboratories
IDXX
$45B
$25.9M 0.06%
48,369
-10,164
-17% -$4.86M
SLB icon
267
SLB Ltd
SLB
$78.1B
$25.9M 0.06%
765,585
-62,642
-8% -$2.17M
EW icon
268
Edwards Lifesciences
EW
$53.6B
$25.8M 0.06%
330,054
-36,279
-10% -$2.71M
WCN
269
Waste Connections
WCN
$41.6B
$25.8M 0.06%
138,072
-7,005
-5% -$1.35M
VCSH icon
270
Vanguard Short-Term Corporate Bond ETF
VCSH
$45B
$25.8M 0.06%
324,000
– –
PAYX icon
271
Paychex
PAYX
$42.8B
$25.6M 0.06%
175,978
-8,306
-5% -$1.25M
ALNY icon
272
Alnylam Pharmaceuticals
ALNY
$30B
$25.5M 0.06%
78,106
+4,951
+7% +$1.37M
GWW icon
273
W.W. Grainger
GWW
$61.5B
$25.4M 0.06%
24,422
-222
-0.9% -$231K
VRT icon
274
Vertiv
VRT
$111B
$25.3M 0.06%
197,383
-21,618
-10% -$2.1M
GM icon
275
General Motors
GM
$76.1B
$25.3M 0.06%
514,707
-140,938
-21% -$6.68M
9 10
11
12 13

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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.