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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
SFM icon
651
Sprouts Farmers Market
SFM
$7.71B
$9.74M 0.02%
59,181
-5,360
-8% -$876K
KEY icon
652
KeyCorp
KEY
$24.6B
$9.73M 0.02%
558,749
-93,626
-14% -$1.45M
HWC icon
653
Hancock Whitney
HWC
$6.37B
$9.73M 0.02%
169,502
-2,320
-1% -$123K
MTSI icon
654
MACOM Technology Solutions
MTSI
$23.5B
$9.72M 0.02%
67,844
-5,602
-8% -$655K
QTWO icon
655
Q2 Holdings
QTWO
$4.13B
$9.72M 0.02%
103,860
-35,905
-26% -$3.03M
AXS icon
656
AXIS Capital
AXS
$7.3B
$9.72M 0.02%
93,589
-3,768
-4% -$375K
AMED
657
DELISTED
Amedisys
AMED
$9.62M 0.02%
97,808
-30,633
-24% -$2.9M
FBP icon
658
First Bancorp
FBP
$4.49B
$9.62M 0.02%
461,983
+24,366
+6% +$479K
P
659
Everpure Inc
P
$39B
$9.61M 0.02%
166,903
-6,560
-4% -$326K
FND icon
660
Floor & Decor
FND
$6.27B
$9.58M 0.02%
126,164
-9,084
-7% -$675K
EXPD icon
661
Expeditors International
EXPD
$24.3B
$9.57M 0.02%
83,786
-323
-0.4% -$36.2K
EVRG icon
662
Evergy
EVRG
$19.3B
$9.54M 0.02%
138,391
-36,930
-21% -$2.48M
NVT icon
663
nVent Electric
NVT
$27.5B
$9.51M 0.02%
129,856
+2,028
+2% +$125K
HOLX
664
DELISTED
Hologic
HOLX
$9.48M 0.02%
145,549
-51,318
-26% -$3.08M
WIX icon
665
WIX.com
WIX
$3.35B
$9.48M 0.02%
59,795
+44,917
+302% +$7.23M
BALL icon
666
Ball Corp
BALL
$16.4B
$9.46M 0.02%
168,677
-59,418
-26% -$3.1M
OMF icon
667
OneMain Financial
OMF
$7.51B
$9.42M 0.02%
165,283
-5,767
-3% -$288K
PEGA icon
668
Pegasystems
PEGA
$5.51B
$9.4M 0.02%
173,734
-12,590
-7% -$570K
CRDO icon
669
Credo Technology Group
CRDO
$49.6B
$9.4M 0.02%
101,487
-5,827
-5% -$340K
TRNO icon
670
Terreno Realty
TRNO
$7.5B
$9.39M 0.02%
167,415
-1,929
-1% -$110K
FTAI icon
671
FTAI Aviation
FTAI
$22.2B
$9.36M 0.02%
81,380
-5,337
-6% -$597K
TER icon
672
Teradyne
TER
$64.2B
$9.34M 0.02%
103,879
-6,703
-6% -$536K
ROKU icon
673
Roku
ROKU
$22.9B
$9.32M 0.02%
106,074
+34,057
+47% +$2.38M
TEVA icon
674
Teva Pharmaceuticals
TEVA
$42.6B
$9.3M 0.02%
554,922
+111,900
+25% +$1.81M
DUOL icon
675
Duolingo
DUOL
$6.74B
$9.25M 0.02%
22,564
-5,611
-20% -$2.46M
25 26
27
28 29

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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.