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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
NCLH icon
626
Norwegian Cruise Line
NCLH
$8.98B
$10.3M 0.03%
507,372
-55,824
-10% -$999K
DT icon
627
Dynatrace
DT
$14.7B
$10.3M 0.03%
186,125
-4,085
-2% -$205K
UTHR icon
628
United Therapeutics
UTHR
$21.5B
$10.3M 0.03%
35,726
+813
+2% +$243K
EL icon
629
Estee Lauder
EL
$31.6B
$10.3M 0.03%
126,958
-26,582
-17% -$1.71M
CLX icon
630
Clorox
CLX
$12.9B
$10.2M 0.03%
85,170
+7,733
+10% +$1.03M
TPB icon
631
Turning Point Brands
TPB
$1.73B
$10.2M 0.02%
134,599
+1,954
+1% +$133K
IDCC icon
632
InterDigital
IDCC
$8.88B
$10.2M 0.02%
45,436
-3,332
-7% -$706K
CUZ icon
633
Cousins Properties
CUZ
$4.93B
$10.2M 0.02%
339,165
-2,753
-0.8% -$77.7K
CIEN icon
634
Ciena
CIEN
$62.7B
$10.1M 0.02%
124,351
-13,436
-10% -$964K
POOL icon
635
Pool Corp
POOL
$7.29B
$10.1M 0.02%
34,691
+11,807
+52% +$3.57M
STEP icon
636
StepStone Group
STEP
$4.28B
$10.1M 0.02%
181,487
-5,694
-3% -$305K
CUBE icon
637
CubeSmart
CUBE
$9.4B
$10.1M 0.02%
236,901
-6,317
-3% -$262K
BAX icon
638
Baxter International
BAX
$14B
$10M 0.02%
331,839
-3,020
-0.9% -$91.6K
CCB icon
639
Coastal Financial
CCB
$774M
$10M 0.02%
103,303
-3,913
-4% -$337K
EWY icon
640
iShares MSCI South Korea ETF
EWY
$27.6B
$9.98M 0.02%
139,000
-44,800
-24% -$2.69M
OMC icon
641
Omnicom Group
OMC
$24.2B
$9.95M 0.02%
138,301
-89,236
-39% -$6.59M
CR icon
642
Crane Co
CR
$12.7B
$9.91M 0.02%
52,176
-6,070
-10% -$1.01M
TW icon
643
Tradeweb Markets
TW
$22.3B
$9.9M 0.02%
67,626
+2,066
+3% +$288K
BIIB icon
644
Biogen
BIIB
$31.1B
$9.89M 0.02%
78,768
-9,808
-11% -$1.22M
KWEB icon
645
KraneShares CSI China Internet ETF
KWEB
$5.31B
$9.89M 0.02%
288,000
+168,000
+140% +$5.57M
EPR icon
646
EPR Properties
EPR
$4.73B
$9.87M 0.02%
169,416
-21,502
-11% -$1.13M
IEX icon
647
IDEX
IEX
$17.6B
$9.86M 0.02%
56,142
+7,919
+16% +$1.4M
MOS icon
648
The Mosaic Company
MOS
$6.92B
$9.84M 0.02%
269,865
+399
+0.1% +$12.8K
GGG icon
649
Graco
GGG
$13.3B
$9.84M 0.02%
114,443
+17,995
+19% +$1.49M
DPZ icon
650
Domino's
DPZ
$11.6B
$9.76M 0.02%
21,664
-1,958
-8% -$919K
24 25
26
27 28

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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.