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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
MWA icon
676
Mueller Water Products
MWA
$3.98B
$9.22M 0.02%
383,370
-18,043
-4% -$446K
JBHT icon
677
JB Hunt Transport Services
JBHT
$26.5B
$9.21M 0.02%
64,169
+585
+0.9% +$80.9K
BLD
678
DELISTED
TopBuild
BLD
$9.19M 0.02%
28,386
-1,406
-5% -$417K
PNR icon
679
Pentair
PNR
$10.7B
$9.18M 0.02%
89,439
-7,030
-7% -$656K
ELF icon
680
e.l.f. Beauty
ELF
$5.43B
$9.15M 0.02%
73,496
-9,283
-11% -$792K
FSLR icon
681
First Solar
FSLR
$24B
$9.14M 0.02%
55,234
-2,943
-5% -$434K
LVS icon
682
Las Vegas Sands
LVS
$29.6B
$9.1M 0.02%
209,161
-75,100
-26% -$2.92M
VOYA icon
683
Voya Financial
VOYA
$9.16B
$9.09M 0.02%
127,958
-13,248
-9% -$850K
TRU icon
684
TransUnion
TRU
$15.5B
$9.08M 0.02%
103,197
-7,438
-7% -$620K
EG icon
685
Everest Group
EG
$14B
$9.08M 0.02%
26,721
+1,813
+7% +$625K
AKAM icon
686
Akamai
AKAM
$18B
$9.08M 0.02%
113,833
+30,415
+36% +$2.36M
CHX
687
DELISTED
ChampionX
CHX
$9.06M 0.02%
364,717
-50,754
-12% -$1.28M
CDP icon
688
COPT Defense Properties
CDP
$4.23B
$9.06M 0.02%
328,358
-2,839
-0.9% -$76.9K
CRBG icon
689
Corebridge Financial
CRBG
$15.3B
$9.04M 0.02%
254,697
+53,711
+27% +$1.67M
CAG icon
690
Conagra Brands
CAG
$7.39B
$9.01M 0.02%
440,003
+169,575
+63% +$3.97M
TENB icon
691
Tenable Holdings
TENB
$4.41B
$8.99M 0.02%
266,156
+2,863
+1% +$92.9K
MKTX icon
692
MarketAxess Holdings
MKTX
$5.72B
$8.93M 0.02%
39,980
+4,969
+14% +$1.09M
BPOP icon
693
Popular Inc
BPOP
$11.3B
$8.92M 0.02%
80,970
-4,255
-5% -$420K
INSP icon
694
Inspire Medical Systems
INSP
$1.68B
$8.89M 0.02%
68,480
+669
+1% +$97K
HASI icon
695
Hannon Armstrong Sustainable Infrastructure Capital
HASI
$5.44B
$8.87M 0.02%
330,200
+7,898
+2% +$205K
CHEF icon
696
Chefs' Warehouse
CHEF
$4.57B
$8.86M 0.02%
138,893
-1,060
-0.8% -$63K
COO icon
697
Cooper Companies
COO
$14.9B
$8.83M 0.02%
124,155
+10,806
+10% +$827K
OHI icon
698
Omega Healthcare
OHI
$13.9B
$8.83M 0.02%
241,018
-11,790
-5% -$438K
NXT icon
699
Nextpower Inc
NXT
$15.9B
$8.82M 0.02%
162,219
-7,632
-4% -$383K
AER icon
700
AerCap
AER
$23.5B
$8.82M 0.02%
75,379
+20,000
+36% +$2.16M
26 27
28
29 30

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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.