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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 | |
|---|---|---|---|---|---|---|
1526
St. Joe Company
JOE
$3.89B
| $1M | ﹤0.01% |
21,036
+10,521
| +100% | +$470K |
|
1527
Methode Electronics
MEI
$593M
| $1M | ﹤0.01% |
105,500
+8,384
| +9% | +$61.6K |
|
1528
Tennant Co
TNC
$1.15B
| $1M | ﹤0.01% |
+12,941
| New | +$956K |
|
1529
Dycom Industries
DY
$12.3B
| $999K | ﹤0.01% |
4,088
-4,716
| -54% | -$928K |
|
1530
Teladoc Health
TDOC
$1.26B
| $999K | ﹤0.01% |
114,668
-5,108
| -4% | -$37K |
|
|
AHRT
1531
AH Realty Trust
AHRT
$506M
| $989K | ﹤0.01% |
+144,016
| New | +$1M |
|
|
JAMF
1532
DELISTED
Jamf
JAMF
| $988K | ﹤0.01% |
103,896
+68,360
| +192% | +$734K |
|
1533
Orrstown Financial Services
ORRF
$855M
| $985K | ﹤0.01% |
30,946
+2,505
| +9% | +$74.1K |
|
|
TRTX
1534
TPG RE Finance Trust
TRTX
$616M
| $982K | ﹤0.01% |
127,230
+13,954
| +12% | +$106K |
|
1535
QuinStreet
QNST
$1.19B
| $976K | ﹤0.01% |
60,633
+36,682
| +153% | +$588K |
|
1536
Biohaven
BHVN
$2.24B
| $975K | ﹤0.01% |
69,101
+20,993
| +44% | +$374K |
|
1537
AdaptHealth
AHCO
$760M
| $974K | ﹤0.01% |
103,265
-90,932
| -47% | -$802K |
|
1538
Diodes
DIOD
$4.48B
| $971K | ﹤0.01% |
18,364
-18,922
| -51% | -$832K |
|
1539
Tarsus Pharmaceuticals
TARS
$3.02B
| $971K | ﹤0.01% |
23,973
-13,483
| -36% | -$607K |
|
1540
Global Net Lease
GNL
$1.9B
| $971K | ﹤0.01% |
128,621
-5,905
| -4% | -$44.8K |
|
1541
SolarEdge
SEDG
$1.98B
| $970K | ﹤0.01% |
47,573
+33,386
| +235% | +$552K |
|
|
GPGI
1542
GPGI Inc
GPGI
$3.75B
| $969K | ﹤0.01% |
68,786
-25,612
| -27% | -$314K |
|
1543
State Street SPDR Portfolio Long Term Corporate Bond ETF
SPLB
$1.19B
| $969K | ﹤0.01% |
42,920
| – | – |
|
1544
Tactile Systems Technology
TCMD
$537M
| $968K | ﹤0.01% |
95,457
+19,400
| +26% | +$222K |
|
1545
Sphere Entertainment
SPHR
$6.33B
| $967K | ﹤0.01% |
23,139
-753
| -3% | -$25.5K |
|
|
GLDD
1546
DELISTED
Great Lakes Dredge & Dock
GLDD
| $967K | ﹤0.01% |
79,344
-14,014
| -15% | -$146K |
|
|
LADR
1547
Ladder Capital
LADR
$1.27B
| $964K | ﹤0.01% |
89,681
+52,504
| +141% | +$552K |
|
1548
DNOW Inc
DNOW
$2.95B
| $961K | ﹤0.01% |
64,774
-2,465
| -4% | -$37.6K |
|
1549
Keros Therapeutics
KROS
$211M
| $960K | ﹤0.01% |
+71,924
| New | +$971K |
|
1550
Ardmore Shipping
ASC
$707M
| $959K | ﹤0.01% |
+99,885
| New | +$962K |
|
Similar funds
LP
HF
RIM
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.