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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
AMAL icon
1701
Amalgamated Financial
AMAL
$1.53B
$643K ﹤0.01%
20,613
+1,241
+6% +$36.4K
TRVI icon
1702
Trevi Therapeutics
TRVI
$2.59B
$641K ﹤0.01%
117,245
-57,900
-33% -$360K
BAND
1703
Bandwidth Inc
BAND
$1.74B
$641K ﹤0.01%
40,335
+9,800
+32% +$133K
UTL icon
1704
Unitil
UTL
$992M
$641K ﹤0.01%
12,293
-1,461
-11% -$81K
WNC icon
1705
Wabash National
WNC
$509M
$640K ﹤0.01%
60,195
+40,679
+208% +$391K
NEXT icon
1706
NextDecade
NEXT
$1.8B
$640K ﹤0.01%
71,803
+13,103
+22% +$102K
THRM icon
1707
Gentherm
THRM
$1.32B
$639K ﹤0.01%
+22,593
New +$600K
IDT icon
1708
IDT Corp
IDT
$1.67B
$632K ﹤0.01%
9,256
-6,775
-42% -$388K
SXT icon
1709
Sensient Technologies
SXT
$5.53B
$632K ﹤0.01%
6,410
+2,660
+71% +$238K
PRTA icon
1710
Prothena Corp
PRTA
$466M
$631K ﹤0.01%
+103,996
New +$780K
SM icon
1711
SM Energy
SM
$7.71B
$630K ﹤0.01%
25,515
+5,505
+28% +$133K
LEGH icon
1712
Legacy Housing
LEGH
$692M
$630K ﹤0.01%
27,794
-1,745
-6% -$40.8K
BDN
1713
Brandywine Realty Trust
BDN
$542M
$627K ﹤0.01%
146,090
-94,554
-39% -$393K
AOMR
1714
Angel Oak Mortgage REIT
AOMR
$209M
$626K ﹤0.01%
66,427
+20,425
+44% +$186K
BRSP
1715
BrightSpire Capital
BRSP
$629M
$625K ﹤0.01%
123,678
+70,169
+131% +$354K
CMCO icon
1716
Columbus McKinnon
CMCO
$550M
$624K ﹤0.01%
40,860
-30,508
-43% -$466K
AMRX icon
1717
Amneal Pharmaceuticals
AMRX
$6.02B
$623K ﹤0.01%
77,049
-57,346
-43% -$432K
PRAX icon
1718
Praxis Precision Medicines
PRAX
$10.3B
$621K ﹤0.01%
14,759
+148
+1% +$5.64K
TGNA
1719
DELISTED
TEGNA Inc
TGNA
$621K ﹤0.01%
37,024
-64,138
-63% -$1.07M
STWD icon
1720
Starwood Property Trust
STWD
$6.05B
$618K ﹤0.01%
30,816
-1,164
-4% -$22.6K
CXM icon
1721
Sprinklr
CXM
$1.65B
$617K ﹤0.01%
72,914
+61,965
+566% +$496K
GLRE icon
1722
Greenlight Captial
GLRE
$512M
$616K ﹤0.01%
42,881
+12,300
+40% +$169K
ST icon
1723
Sensata Technologies
ST
$6.61B
$614K ﹤0.01%
20,399
-6,500
-24% -$160K
INN
1724
Summit Hotel Properties
INN
$656M
$614K ﹤0.01%
+120,657
New +$531K
CDRE icon
1725
Cadre Holdings
CDRE
$1.45B
$614K ﹤0.01%
19,277
-2,676
-12% -$86.5K
67 68
69
70 71

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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.