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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
PINS icon
551
Pinterest
PINS
$13B
$12.2M 0.03%
341,181
-20,489
-6% -$622K
JKHY icon
552
Jack Henry & Associates
JKHY
$10.9B
$12.2M 0.03%
67,583
+10,241
+18% +$1.82M
KIM icon
553
Kimco Realty
KIM
$16.3B
$12.1M 0.03%
578,011
-345,785
-37% -$7.17M
VRNS icon
554
Varonis Systems
VRNS
$5B
$12.1M 0.03%
239,302
-11,376
-5% -$517K
GPK icon
555
Graphic Packaging
GPK
$3.47B
$12.1M 0.03%
575,164
+6,816
+1% +$158K
DVN icon
556
Devon Energy
DVN
$48.5B
$12M 0.03%
377,389
+7,879
+2% +$251K
TXRH icon
557
Texas Roadhouse
TXRH
$13.7B
$12M 0.03%
63,943
+3,534
+6% +$634K
SW
558
Smurfit Westrock
SW
$26.2B
$12M 0.03%
276,992
-12,325
-4% -$527K
DKNG icon
559
DraftKings
DKNG
$12.5B
$11.9M 0.03%
277,464
-37,047
-12% -$1.33M
INSM icon
560
Insmed
INSM
$27.8B
$11.9M 0.03%
117,961
-8,014
-6% -$613K
GMED icon
561
Globus Medical
GMED
$11.5B
$11.8M 0.03%
200,199
+10,843
+6% +$701K
AIT icon
562
Applied Industrial Technologies
AIT
$13.1B
$11.8M 0.03%
50,814
-1,623
-3% -$369K
FWONK icon
563
Liberty Media Series C
FWONK
$26B
$11.8M 0.03%
112,658
-5,922
-5% -$550K
ITRI icon
564
Itron
ITRI
$4.45B
$11.7M 0.03%
89,157
-1,082
-1% -$122K
NTAP icon
565
NetApp
NTAP
$40B
$11.7M 0.03%
110,062
-4,228
-4% -$401K
NPO icon
566
Enpro
NPO
$7.22B
$11.7M 0.03%
61,072
-707
-1% -$121K
USFD icon
567
US Foods
USFD
$23.8B
$11.7M 0.03%
151,527
-17,042
-10% -$1.22M
HOMB icon
568
Home BancShares
HOMB
$6.26B
$11.6M 0.03%
409,008
-7,853
-2% -$218K
ESNT icon
569
Essent Group
ESNT
$6.18B
$11.6M 0.03%
191,421
-6,829
-3% -$394K
JNPR
570
DELISTED
Juniper Networks
JNPR
$11.6M 0.03%
291,071
-7,341
-2% -$263K
ZBH icon
571
Zimmer Biomet
ZBH
$18.8B
$11.6M 0.03%
127,374
+13,524
+12% +$1.31M
LOPE icon
572
Grand Canyon Education
LOPE
$3.79B
$11.6M 0.03%
61,348
+3,564
+6% +$661K
ESAB icon
573
ESAB
ESAB
$5.31B
$11.5M 0.03%
95,808
-7,112
-7% -$860K
MTDR icon
574
Matador Resources
MTDR
$6.34B
$11.5M 0.03%
241,767
-7,670
-3% -$339K
FNF icon
575
Fidelity National Financial
FNF
$13B
$11.5M 0.03%
204,708
+33,791
+20% +$1.98M
21 22
23
24 25

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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.