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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
MBC icon
1476
MasterBrand
MBC
$1.89B
$1.15M ﹤0.01%
105,489
+76,947
+270% +$852K
FRSH icon
1477
Freshworks
FRSH
$3.51B
$1.15M ﹤0.01%
77,282
+1,121
+1% +$16.2K
CTLP
1478
DELISTED
Cantaloupe
CTLP
$1.14M ﹤0.01%
103,858
-6,643
-6% -$57.5K
ELVN icon
1479
Enliven Therapeutics
ELVN
$4.25B
$1.14M ﹤0.01%
56,782
+11,026
+24% +$209K
HY icon
1480
Hyster-Yale Materials Handling
HY
$617M
$1.13M ﹤0.01%
28,433
+17,415
+158% +$694K
ZUMZ icon
1481
Zumiez
ZUMZ
$319M
$1.13M ﹤0.01%
85,293
+6,800
+9% +$85.9K
INOD icon
1482
Innodata
INOD
$2.03B
$1.13M ﹤0.01%
22,038
-6,209
-22% -$245K
ARVN icon
1483
Arvinas
ARVN
$589M
$1.13M ﹤0.01%
153,074
+75,199
+97% +$554K
DNLI icon
1484
Denali Therapeutics
DNLI
$3.97B
$1.11M ﹤0.01%
79,627
-264
-0.3% -$3.72K
AIR icon
1485
AAR Corp
AIR
$5.77B
$1.11M ﹤0.01%
16,183
-37,565
-70% -$2.25M
CC icon
1486
Chemours
CC
$2.3B
$1.11M ﹤0.01%
97,008
+12,569
+15% +$142K
PLGO
1487
Pelagos Insurance Capital
PLGO
$1.95B
$1.11M ﹤0.01%
66,974
+43,600
+187% +$722K
RBBN icon
1488
Ribbon Communications
RBBN
$377M
$1.11M ﹤0.01%
275,903
+76,619
+38% +$276K
DAKT icon
1489
Daktronics
DAKT
$988M
$1.1M ﹤0.01%
73,029
-30,678
-30% -$422K
CRC icon
1490
California Resources
CRC
$4.69B
$1.1M ﹤0.01%
24,140
+994
+4% +$40.6K
EMCS
1491
Xtrackers MSCI Emerging Markets Select ETF
EMCS
$1.01B
$1.1M ﹤0.01%
35,286
– –
NABL icon
1492
N-able
NABL
$695M
$1.1M ﹤0.01%
135,737
+82,441
+155% +$616K
SPB icon
1493
Spectrum Brands
SPB
$2.09B
$1.09M ﹤0.01%
20,567
+1,640
+9% +$97.8K
PPC icon
1494
Pilgrim's Pride
PPC
$6.57B
$1.09M ﹤0.01%
24,145
-1,879
-7% -$92.2K
CTKB icon
1495
Cytek Biosciences
CTKB
$636M
$1.08M ﹤0.01%
316,676
+5,351
+2% +$17.8K
AMRC icon
1496
Ameresco
AMRC
$1.47B
$1.08M ﹤0.01%
70,876
+28,479
+67% +$373K
TDW icon
1497
Tidewater
TDW
$4.55B
$1.08M ﹤0.01%
23,311
-7,746
-25% -$314K
ARLO icon
1498
Arlo Technologies
ARLO
$1.54B
$1.07M ﹤0.01%
63,276
-30,874
-33% -$395K
AUB icon
1499
Atlantic Union Bankshares
AUB
$6.09B
$1.07M ﹤0.01%
34,198
+8,651
+34% +$250K
STGW icon
1500
Stagwell
STGW
$2.28B
$1.06M ﹤0.01%
236,587
+80,390
+51% +$404K
58 59
60
61 62

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LP
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HF
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RIM
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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.