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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 | |
|---|---|---|---|---|---|---|
|
HPP
1876
Hudson Pacific Properties
HPP
$787M
| $439K | ﹤0.01% |
22,871
+7,004
| +44% | +$114K |
|
1877
White Mountains Insurance
WTM
$5.11B
| $435K | ﹤0.01% |
242
-21
| -8% | -$37.3K |
|
|
BBT
1878
Beacon Financial Corp
BBT
$2.71B
| $434K | ﹤0.01% |
+17,334
| New | +$431K |
|
1879
Nelnet
NNI
$4.55B
| $434K | ﹤0.01% |
3,582
-887
| -20% | -$99.1K |
|
|
EHAB
1880
DELISTED
Enhabit
EHAB
| $432K | ﹤0.01% |
44,817
-47,057
| -51% | -$434K |
|
1881
RXO
RXO
$3.85B
| $432K | ﹤0.01% |
27,472
+16,260
| +145% | +$246K |
|
|
LB
1882
LandBridge Co
LB
$2.1B
| $429K | ﹤0.01% |
6,344
+160
| +3% | +$11.5K |
|
1883
Central Pacific Financial
CPF
$1B
| $429K | ﹤0.01% |
15,294
-4,586
| -23% | -$121K |
|
|
MAGN
1884
Magnera Corp
MAGN
$433M
| $429K | ﹤0.01% |
35,482
-1,730
| -5% | -$23.8K |
|
1885
Coursera
COUR
$1.53B
| $428K | ﹤0.01% |
48,884
+36,040
| +281% | +$295K |
|
1886
Avnet
AVT
$7.87B
| $428K | ﹤0.01% |
8,057
-838
| -9% | -$41.6K |
|
1887
ARKO Corp
ARKO
$505M
| $428K | ﹤0.01% |
101,066
-18,054
| -15% | -$78.9K |
|
1888
Talos Energy
TALO
$2.58B
| $427K | ﹤0.01% |
50,382
+10,078
| +25% | +$80.7K |
|
1889
Ranpak Holdings
PACK
$479M
| $426K | ﹤0.01% |
119,260
+44,956
| +61% | +$167K |
|
|
SPR
1890
DELISTED
Spirit AeroSystems
SPR
| $425K | ﹤0.01% |
11,131
-995
| -8% | -$35.7K |
|
|
OSG
1891
Octave Specialty Group
OSG
$212M
| $423K | ﹤0.01% |
+59,544
| New | +$443K |
|
1892
Ceco Environmental
CECO
$4.5B
| $421K | ﹤0.01% |
14,888
-10,925
| -42% | -$272K |
|
1893
Brookdale Senior Living
BKD
$3B
| $421K | ﹤0.01% |
60,437
-11,437
| -16% | -$74.4K |
|
1894
Novavax
NVAX
$1.34B
| $419K | ﹤0.01% |
66,532
-268,876
| -80% | -$1.78M |
|
1895
Metallus
MTUS
$892M
| $418K | ﹤0.01% |
27,141
-49,688
| -65% | -$662K |
|
1896
Karat Packaging
KRT
$953M
| $414K | ﹤0.01% |
14,700
-8,300
| -36% | -$231K |
|
1897
First Financial Bankshares
FFIN
$5.04B
| $414K | ﹤0.01% |
11,499
-1,115
| -9% | -$38.6K |
|
1898
Materion
MTRN
$5.88B
| $413K | ﹤0.01% |
5,208
-851
| -14% | -$67.1K |
|
1899
Mitek Systems
MITK
$853M
| $412K | ﹤0.01% |
41,629
+28,548
| +218% | +$256K |
|
1900
Republic Bancorp
RBCAA
$1.92B
| $411K | ﹤0.01% |
5,628
-2,662
| -32% | -$182K |
|
Similar funds
LP
HF
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.