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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
NOMD icon
1226
Nomad Foods
NOMD
$1.68B
$2.3M 0.01%
+135,100
New +$2.48M
PRGO icon
1227
Perrigo
PRGO
$1.76B
$2.29M 0.01%
85,754
-1,360
-2% -$35.6K
PHIN icon
1228
Phinia Inc
PHIN
$2.71B
$2.29M 0.01%
51,468
+1,201
+2% +$50.7K
ZD icon
1229
Ziff Davis
ZD
$1.92B
$2.29M 0.01%
75,629
+18,232
+32% +$586K
VKTX icon
1230
Viking Therapeutics
VKTX
$3.84B
$2.29M 0.01%
86,290
-17,371
-17% -$457K
TPH
1231
DELISTED
Tri Pointe Homes
TPH
$2.27M 0.01%
71,126
+25,147
+55% +$772K
FSLY icon
1232
Fastly Inc
FSLY
$4.78B
$2.27M 0.01%
321,738
+120,232
+60% +$806K
HLIO icon
1233
Helios Technologies
HLIO
$2.66B
$2.26M 0.01%
+67,807
New +$2.04M
RYTM icon
1234
Rhythm Pharmaceuticals
RYTM
$8.1B
$2.26M 0.01%
35,708
+2,683
+8% +$164K
CSTM icon
1235
Constellium
CSTM
$3.95B
$2.25M 0.01%
169,534
+36,153
+27% +$406K
DAN icon
1236
Dana Inc
DAN
$3.26B
$2.25M 0.01%
131,250
+42,874
+49% +$640K
NEO icon
1237
NeoGenomics
NEO
$2.11B
$2.25M 0.01%
307,838
+80,113
+35% +$647K
ESGE icon
1238
iShares ESG Aware MSCI EM ETF
ESGE
$6.86B
$2.24M 0.01%
57,159
– –
SCHL icon
1239
Scholastic
SCHL
$784M
$2.24M 0.01%
106,615
+13,572
+15% +$247K
AOSL icon
1240
Alpha and Omega Semiconductor
AOSL
$916M
$2.23M 0.01%
86,791
+19,919
+30% +$433K
W icon
1241
Wayfair
W
$13.9B
$2.22M 0.01%
43,483
-32,030
-42% -$1.2M
AUPH icon
1242
Aurinia Pharmaceuticals
AUPH
$2.06B
$2.22M 0.01%
262,335
-60,415
-19% -$484K
AMG icon
1243
Affiliated Managers Group
AMG
$9.57B
$2.22M 0.01%
11,276
-18,926
-63% -$3.28M
NAGE
1244
Niagen Bioscience
NAGE
$242M
$2.22M 0.01%
153,898
-6,072
-4% -$60K
AMKR icon
1245
Amkor Technology
AMKR
$14.3B
$2.21M 0.01%
105,453
+16,346
+18% +$302K
BV icon
1246
BrightView Holdings
BV
$1.08B
$2.17M 0.01%
130,572
-27,883
-18% -$417K
BLFS icon
1247
BioLife Solutions
BLFS
$1.72B
$2.17M 0.01%
100,688
+15,324
+18% +$345K
AMTM
1248
Amentum Holdings
AMTM
$5.51B
$2.17M 0.01%
91,857
-3,857
-4% -$80.6K
RGTI icon
1249
Rigetti Computing
RGTI
$6.21B
$2.17M 0.01%
182,655
-29,023
-14% -$306K
OKLO
1250
Oklo
OKLO
$8.64B
$2.16M 0.01%
38,498
+17,347
+82% +$669K
48 49
50
51 52

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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.