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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 | |
|---|---|---|---|---|---|---|
26
Johnson & Johnson
JNJ
$629B
| $205M | 0.5% |
1,342,850
-40,412
| -3% | -$6.21M |
|
27
News Corp Class A
NWSA
$15.5B
| $203M | 0.5% |
6,832,884
+416,535
| +6% | +$11.5M |
|
28
Oracle
ORCL
$442B
| $197M | 0.48% |
898,978
-45,201
| -5% | -$7.3M |
|
29
Home Depot
HD
$342B
| $195M | 0.48% |
531,111
-42,137
| -7% | -$15.2M |
|
30
Bank of America
BAC
$453B
| $191M | 0.47% |
4,031,203
-98,700
| -2% | -$4.15M |
|
31
ARK Innovation ETF
ARKK
$6.44B
| $188M | 0.46% |
2,674,736
+445,562
| +20% | +$24.6M |
|
32
AbbVie
ABBV
$440B
| $179M | 0.44% |
963,670
-57,538
| -6% | -$10.7M |
|
33
Cisco
CSCO
$488B
| $164M | 0.4% |
2,364,527
-141,210
| -6% | -$8.68M |
|
34
Philip Morris
PM
$290B
| $162M | 0.4% |
889,822
-22,150
| -2% | -$3.8M |
|
35
Coca-Cola
KO
$373B
| $159M | 0.39% |
2,249,236
-139,472
| -6% | -$9.94M |
|
36
UnitedHealth
UNH
$364B
| $159M | 0.39% |
508,822
-12,949
| -2% | -$4.95M |
|
37
Palantir
PLTR
$411B
| $158M | 0.39% |
1,158,561
-25,768
| -2% | -$3.02M |
|
38
GE Aerospace
GE
$379B
| $158M | 0.38% |
612,003
-60,204
| -9% | -$13.2M |
|
39
IBM
IBM
$222B
| $151M | 0.37% |
513,766
-21,556
| -4% | -$5.55M |
|
40
Salesforce
CRM
$158B
| $148M | 0.36% |
542,706
-25,729
| -5% | -$6.88M |
|
41
Wells Fargo
WFC
$269B
| $140M | 0.34% |
1,743,440
-160,765
| -8% | -$11.6M |
|
42
Intuit
INTU
$91.6B
| $128M | 0.31% |
162,979
-1,236
| -0.8% | -$836K |
|
43
Liberty Media Series A
FWONA
$23.7B
| $128M | 0.31% |
1,351,443
+16,627
| +1% | +$1.4M |
|
44
Harbor Human Capital Factor US Small Cap ETF
HAPS
$176M
| $128M | 0.31% |
4,520,000
| – | – |
|
45
Chevron
CVX
$386B
| $127M | 0.31% |
886,530
-73,030
| -8% | -$10.3M |
|
|
EFFI
46
Harbor Osmosis International Resource Efficient ETF
EFFI
$155M
| $126M | 0.31% |
5,500,000
| – | – |
|
47
Abbott
ABT
$192B
| $126M | 0.31% |
927,094
-55,912
| -6% | -$7.37M |
|
48
Walt Disney
DIS
$178B
| $125M | 0.3% |
1,005,818
-75,443
| -7% | -$7.84M |
|
49
iShares MSCI Emerging Markets ETF
EEM
$30.4B
| $123M | 0.3% |
2,553,828
-882,800
| -26% | -$39.7M |
|
50
Advanced Micro Devices
AMD
$788B
| $123M | 0.3% |
867,963
-44,169
| -5% | -$4.81M |
|
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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.