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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
AVB icon
401
AvalonBay Communities
AVB
$26.4B
$16.6M 0.04%
81,412
-8,455
-9% -$1.73M
ATR icon
402
AptarGroup
ATR
$8.42B
$16.5M 0.04%
105,534
-3,027
-3% -$457K
WTFC icon
403
Wintrust Financial
WTFC
$11B
$16.5M 0.04%
133,149
-5,264
-4% -$604K
TPR icon
404
Tapestry
TPR
$26.4B
$16.3M 0.04%
185,892
-32,228
-15% -$2.44M
STE icon
405
Steris
STE
$22.9B
$16.3M 0.04%
67,920
+4,465
+7% +$1.04M
STT icon
406
State Street
STT
$52.3B
$16.3M 0.04%
153,192
-16,979
-10% -$1.57M
WTW icon
407
Willis Towers Watson
WTW
$31.2B
$16.2M 0.04%
52,833
-3,769
-7% -$1.17M
HUBS icon
408
HubSpot
HUBS
$10.8B
$16.1M 0.04%
28,997
-709
-2% -$415K
RL icon
409
Ralph Lauren
RL
$23.1B
$16.1M 0.04%
58,824
+32,909
+127% +$8.15M
VRSN icon
410
VeriSign
VRSN
$25.5B
$16.1M 0.04%
55,792
+7,035
+14% +$1.91M
DGX icon
411
Quest Diagnostics
DGX
$26.1B
$16.1M 0.04%
89,671
-1,755
-2% -$305K
TKO icon
412
TKO Group
TKO
$14.3B
$16.1M 0.04%
88,475
-3,373
-4% -$542K
SGI
413
Somnigroup International
SGI
$13.6B
$16.1M 0.04%
236,028
+33,319
+16% +$2.1M
HPQ icon
414
HP
HPQ
$27.8B
$16M 0.04%
655,963
+90,931
+16% +$2.32M
GEN icon
415
Gen Digital
GEN
$17.3B
$16M 0.04%
544,376
+380
+0.1% +$10.4K
JBL icon
416
Jabil
JBL
$39.2B
$15.9M 0.04%
73,104
-17,655
-19% -$2.86M
MTZ icon
417
MasTec
MTZ
$23.3B
$15.9M 0.04%
93,525
-5,720
-6% -$824K
NUE icon
418
Nucor
NUE
$61.8B
$15.9M 0.04%
122,786
-8,487
-6% -$992K
TSCO icon
419
Tractor Supply
TSCO
$19B
$15.9M 0.04%
300,861
-592
-0.2% -$30.3K
MANH icon
420
Manhattan Associates
MANH
$11.4B
$15.9M 0.04%
80,330
+7,938
+11% +$1.44M
CDW icon
421
CDW
CDW
$17.3B
$15.8M 0.04%
88,305
-3,292
-4% -$559K
OXY icon
422
Occidental Petroleum
OXY
$57.7B
$15.7M 0.04%
374,177
-22,315
-6% -$933K
BWIN
423
Baldwin Insurance Group
BWIN
$2.94B
$15.7M 0.04%
366,862
+616
+0.2% +$25K
DG icon
424
Dollar General
DG
$26.7B
$15.7M 0.04%
137,296
+12,846
+10% +$1.28M
CMS icon
425
CMS Energy
CMS
$22.1B
$15.7M 0.04%
226,635
-87,466
-28% -$6.23M
15 16
17
18 19

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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.