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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 | |
|---|---|---|---|---|---|---|
1676
HNI Corp
HNI
$3.56B
| $695K | ﹤0.01% |
14,140
+9,134
| +182% | +$414K |
|
1677
Replimune Group
REPL
$1.42B
| $695K | ﹤0.01% |
74,781
+27,077
| +57% | +$236K |
|
1678
Hallador Energy
HNRG
$730M
| $694K | ﹤0.01% |
43,828
-46,458
| -51% | -$718K |
|
1679
Hanmi Financial
HAFC
$963M
| $690K | ﹤0.01% |
27,961
+4,152
| +17% | +$94.9K |
|
1680
Horizon Bancorp
HBNC
$1.05B
| $687K | ﹤0.01% |
44,682
-8,039
| -15% | -$118K |
|
1681
Titan International
TWI
$438M
| $683K | ﹤0.01% |
66,516
+39,594
| +147% | +$305K |
|
1682
Disc Medicine
IRON
$3.07B
| $683K | ﹤0.01% |
12,889
+906
| +8% | +$42.6K |
|
1683
Andersons Inc
ANDE
$2.21B
| $682K | ﹤0.01% |
18,547
+8,787
| +90% | +$322K |
|
|
ARR
1684
Armour Residential REIT
ARR
$2.37B
| $679K | ﹤0.01% |
+40,403
| New | +$649K |
|
1685
Vaalco Energy
EGY
$592M
| $679K | ﹤0.01% |
188,091
+46,817
| +33% | +$163K |
|
1686
Lucid Motors
LCID
$2.54B
| $677K | ﹤0.01% |
32,075
-4,304
| -12% | -$103K |
|
1687
Appian
APPN
$2.65B
| $672K | ﹤0.01% |
22,512
+5,693
| +34% | +$171K |
|
1688
Viavi Solutions
VIAV
$10.6B
| $671K | ﹤0.01% |
66,602
+5,982
| +10% | +$57.8K |
|
1689
Sterling Infrastructure
STRL
$16.9B
| $666K | ﹤0.01% |
2,885
-2,842
| -50% | -$496K |
|
1690
Oxford Industries
OXM
$542M
| $661K | ﹤0.01% |
+16,426
| New | +$826K |
|
1691
Quaker Houghton
KWR
$2.95B
| $659K | ﹤0.01% |
+5,885
| New | +$639K |
|
1692
Applied Digital
APLD
$8.81B
| $655K | ﹤0.01% |
64,997
-85,494
| -57% | -$631K |
|
1693
CRA International
CRAI
$1.07B
| $654K | ﹤0.01% |
3,489
+743
| +27% | +$133K |
|
1694
Enact Holdings
ACT
$6.84B
| $652K | ﹤0.01% |
17,542
-1,147
| -6% | -$40.7K |
|
1695
TPG
TPG
$8.86B
| $650K | ﹤0.01% |
12,388
+4,379
| +55% | +$210K |
|
1696
B&G Foods
BGS
$299M
| $649K | ﹤0.01% |
+153,468
| New | +$802K |
|
1697
CNX Resources
CNX
$5.23B
| $649K | ﹤0.01% |
19,269
-27,025
| -58% | -$851K |
|
1698
Costamare
CMRE
$1.74B
| $647K | ﹤0.01% |
71,038
-20,100
| -22% | -$179K |
|
1699
Antero Midstream
AM
$10.5B
| $645K | ﹤0.01% |
34,053
-2,933
| -8% | -$52.4K |
|
1700
O-I Glass
OI
$1.05B
| $644K | ﹤0.01% |
43,717
-73,732
| -63% | -$943K |
|
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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.