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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
IWM icon
926
iShares Russell 2000 ETF
IWM
$82.4B
$5.07M 0.01%
23,515
-933
-4% -$188K
BOOT icon
927
Boot Barn
BOOT
$4.92B
$5.06M 0.01%
33,269
+17,928
+117% +$2.38M
ABX
928
Abacus Global Management
ABX
$833M
$5.04M 0.01%
981,504
+75,927
+8% +$561K
GPOR icon
929
Gulfport Energy Corp
GPOR
$3.01B
$5.01M 0.01%
24,902
-5,543
-18% -$1.03M
GNTX icon
930
Gentex
GNTX
$4.99B
$5M 0.01%
227,492
-37,269
-14% -$815K
BWA icon
931
BorgWarner
BWA
$13.8B
$5M 0.01%
149,213
+28,757
+24% +$882K
BRZE icon
932
Braze
BRZE
$3.36B
$4.98M 0.01%
177,260
-9,699
-5% -$307K
AVTR icon
933
Avantor
AVTR
$9.37B
$4.97M 0.01%
369,438
-16,077
-4% -$220K
KRYS icon
934
Krystal Biotech
KRYS
$9.72B
$4.96M 0.01%
36,089
+11,906
+49% +$1.75M
BOW
935
Bowhead Specialty Holdings
BOW
$1.1B
$4.95M 0.01%
132,025
-789
-0.6% -$30.2K
ALB icon
936
Albemarle
ALB
$15.4B
$4.92M 0.01%
78,571
+13,880
+21% +$821K
THO icon
937
Thor Industries
THO
$4.11B
$4.92M 0.01%
55,372
-18,631
-25% -$1.47M
MNDY icon
938
monday.com
MNDY
$3.99B
$4.91M 0.01%
15,600
+5,000
+47% +$1.39M
TREE icon
939
LendingTree
TREE
$461M
$4.9M 0.01%
132,208
+22,267
+20% +$899K
DTM icon
940
DT Midstream
DTM
$13.8B
$4.88M 0.01%
44,424
+13,076
+42% +$1.32M
OBK icon
941
Origin Bancorp
OBK
$1.69B
$4.88M 0.01%
136,608
-1,095
-0.8% -$36.3K
TTC icon
942
Toro Company
TTC
$9.21B
$4.88M 0.01%
69,045
+2,356
+4% +$167K
INGR icon
943
Ingredion
INGR
$6.63B
$4.86M 0.01%
35,856
-5,093
-12% -$688K
AES icon
944
AES
AES
$10.5B
$4.85M 0.01%
460,684
-339,191
-42% -$3.63M
GFF icon
945
Griffon
GFF
$4.8B
$4.83M 0.01%
66,727
+46,962
+238% +$3.27M
ALEX
946
DELISTED
Alexander & Baldwin
ALEX
$4.81M 0.01%
270,034
-2,996
-1% -$52.1K
NSIT icon
947
Insight Enterprises
NSIT
$4.6B
$4.81M 0.01%
34,814
+2,733
+9% +$368K
AAON icon
948
Aaon
AAON
$7.23B
$4.77M 0.01%
64,719
-2,960
-4% -$259K
OPRA
949
Opera Ltd
OPRA
$1.8B
$4.77M 0.01%
252,274
-13,566
-5% -$233K
APA icon
950
APA Corp
APA
$14B
$4.75M 0.01%
259,909
-19,488
-7% -$338K
36 37
38
39 40

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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.