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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
(+5.8%)
Cap. Flow
-$1.49B
Cap. Flow
% of AUM
-3.63%
Top 10 Holdings %
Top 10 Hldgs %
27.58%
Holding
2,442
New
201
Increased
735
Reduced
1,331
Closed
129
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Invesco S&P 500 Equal Weight ETF
RSP
|
+$390M |
| 2 |
Berkshire Hathaway Class A
BRK.A
|
+$107M |
| 3 |
State Street SPDR S&P Homebuilders ETF
XHB
|
+$38M |
| 4 |
Capital One
COF
|
+$29.9M |
| 5 |
Liberty Broadband Class A
LBRDA
|
+$28.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class A
GOOGL
|
+$398M |
| 2 |
NVIDIA
NVDA
|
+$120M |
| 3 |
Microsoft
MSFT
|
+$107M |
| 4 |
Apple
AAPL
|
+$94.7M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
976
Patrick Industries
PATK
$2.78B
| $4.5M | 0.01% |
48,785
-11,841
| -20% | -$1.01M |
|
977
Magnite
MGNI
$3.53B
| $4.49M | 0.01% |
185,994
-47,687
| -20% | -$703K |
|
978
Hess Midstream
HESM
$5.11B
| $4.46M | 0.01% |
115,866
-2,320
| -2% | -$88.4K |
|
979
Brighthouse Financial
BHF
$3.42B
| $4.46M | 0.01% |
82,947
+26,310
| +46% | +$1.48M |
|
980
Photronics
PLAB
$1.97B
| $4.4M | 0.01% |
233,793
+34,775
| +17% | +$651K |
|
981
Oshkosh
OSK
$9.41B
| $4.39M | 0.01% |
38,646
+2,375
| +7% | +$231K |
|
982
Eastern Bankshares
EBC
$5.37B
| $4.36M | 0.01% |
285,848
-21,090
| -7% | -$317K |
|
983
Autoliv
ALV
$8.89B
| $4.36M | 0.01% |
39,002
-4,036
| -9% | -$395K |
|
984
Caesars Entertainment
CZR
$6.04B
| $4.36M | 0.01% |
153,607
-71,287
| -32% | -$1.94M |
|
985
Delta Air Lines
DAL
$60B
| $4.35M | 0.01% |
88,501
-35,324
| -29% | -$1.62M |
|
986
CAVA Group
CAVA
$8.43B
| $4.34M | 0.01% |
51,517
-92
| -0.2% | -$7.85K |
|
987
H&R Block
HRB
$6.76B
| $4.33M | 0.01% |
78,843
-6,210
| -7% | -$359K |
|
988
Corcept Therapeutics
CORT
$11.9B
| $4.29M | 0.01% |
58,456
-40,276
| -41% | -$2.92M |
|
989
Darling Ingredients
DAR
$10.4B
| $4.28M | 0.01% |
112,896
-20,651
| -15% | -$680K |
|
990
Chewy
CHWY
$9.2B
| $4.28M | 0.01% |
100,493
-1,250
| -1% | -$49.8K |
|
991
MP Materials
MP
$9.91B
| $4.28M | 0.01% |
128,560
-5,124
| -4% | -$131K |
|
992
Sprout Social
SPT
$604M
| $4.25M | 0.01% |
203,315
+37,922
| +23% | +$804K |
|
993
Repligen
RGEN
$9.45B
| $4.24M | 0.01% |
34,049
-2,158
| -6% | -$275K |
|
|
NPB
994
Northpointe Bancshares
NPB
$603M
| $4.2M | 0.01% |
306,618
| – | – |
|
995
Delek US
DK
$4.18B
| $4.2M | 0.01% |
198,201
+17,494
| +10% | +$294K |
|
996
Howard Hughes
HHH
$4.04B
| $4.19M | 0.01% |
62,079
-227
| -0.4% | -$15.5K |
|
997
Fortune Brands Innovations
FBIN
$5.78B
| $4.17M | 0.01% |
80,936
+12,482
| +18% | +$653K |
|
998
Halozyme
HALO
$11.4B
| $4.14M | 0.01% |
79,648
-5,065
| -6% | -$288K |
|
999
Procept Biorobotics
PRCT
$1.26B
| $4.1M | 0.01% |
71,181
+894
| +1% | +$50.5K |
|
1000
Option Care Health
OPCH
$3.61B
| $4.08M | 0.01% |
125,767
+9,609
| +8% | +$310K |
|
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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.