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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
SIRI icon
1351
SiriusXM
SIRI
$9.43B
$1.6M ﹤0.01%
69,582
-11,241
-14% -$242K
GTM
1352
ZoomInfo Technologies
GTM
$1.25B
$1.6M ﹤0.01%
157,912
-11,045
-7% -$102K
NNN icon
1353
NNN REIT
NNN
$8.79B
$1.59M ﹤0.01%
36,874
-11,240
-23% -$467K
ACA icon
1354
Arcosa
ACA
$7.12B
$1.59M ﹤0.01%
18,303
+5,107
+39% +$427K
MIRM icon
1355
Mirum Pharmaceuticals
MIRM
$6.02B
$1.58M ﹤0.01%
31,142
-27,004
-46% -$1.2M
NWL icon
1356
Newell Brands
NWL
$2.62B
$1.58M ﹤0.01%
292,216
-43,540
-13% -$231K
SLM icon
1357
SLM Corp
SLM
$5.26B
$1.56M ﹤0.01%
47,645
-4,323
-8% -$132K
FAF icon
1358
First American
FAF
$7.38B
$1.56M ﹤0.01%
25,434
+1,813
+8% +$108K
AL
1359
DELISTED
Air Lease Corp
AL
$1.56M ﹤0.01%
26,591
-3,737
-12% -$195K
SDRL icon
1360
Seadrill
SDRL
$2.92B
$1.55M ﹤0.01%
+59,105
New +$1.39M
YETI icon
1361
Yeti Holdings
YETI
$3.44B
$1.55M ﹤0.01%
49,072
+9,724
+25% +$292K
WD icon
1362
Walker & Dunlop
WD
$1.45B
$1.54M ﹤0.01%
21,836
+18,270
+512% +$1.32M
SEZL
1363
Sezzle
SEZL
$4.37B
$1.54M ﹤0.01%
8,572
-313
-4% -$27.7K
PATH icon
1364
UiPath
PATH
$8.64B
$1.53M ﹤0.01%
119,566
-14,132
-11% -$170K
XPRO icon
1365
Expro Ltd
XPRO
$2.07B
$1.53M ﹤0.01%
178,011
+14,820
+9% +$126K
NEU icon
1366
NewMarket
NEU
$8.72B
$1.53M ﹤0.01%
2,211
-78
-3% -$48.4K
NRDS icon
1367
NerdWallet
NRDS
$617M
$1.52M ﹤0.01%
+138,947
New +$1.39M
DX
1368
Dynex Capital
DX
$3.23B
$1.52M ﹤0.01%
124,690
+1,310
+1% +$15.9K
FG icon
1369
F&G Annuities & Life
FG
$3.48B
$1.52M ﹤0.01%
47,629
+30,182
+173% +$1M
LYTS icon
1370
LSI Industries
LYTS
$890M
$1.52M ﹤0.01%
89,496
+7,032
+9% +$113K
VTLE
1371
DELISTED
Vital Energy
VTLE
$1.52M ﹤0.01%
+94,334
New +$1.54M
VNOM icon
1372
Viper Energy
VNOM
$15.2B
$1.51M ﹤0.01%
39,632
+5,116
+15% +$207K
SYNA icon
1373
Synaptics
SYNA
$4.3B
$1.51M ﹤0.01%
23,234
+16,242
+232% +$956K
DV icon
1374
DoubleVerify
DV
$2.04B
$1.5M ﹤0.01%
100,524
+43,797
+77% +$600K
IMVT icon
1375
Immunovant
IMVT
$8.8B
$1.5M ﹤0.01%
93,893
+38,180
+69% +$577K
53 54
55
56 57

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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.