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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
UHAL.B icon
176
U-Haul Holding Co Series N
UHAL.B
$12.7B
$40.6M 0.1%
747,114
+275,245
+58% +$15.4M
PNC icon
177
PNC Financial Services
PNC
$102B
$40.5M 0.1%
217,249
-11,427
-5% -$1.93M
EMR icon
178
Emerson Electric
EMR
$91.4B
$40.2M 0.1%
301,133
-19,130
-6% -$2.19M
NEM icon
179
Newmont
NEM
$124B
$40M 0.1%
686,092
+42,944
+7% +$2.29M
ADSK icon
180
Autodesk
ADSK
$52.7B
$39.7M 0.1%
128,313
-8,269
-6% -$2.35M
XHB icon
181
State Street SPDR S&P Homebuilders ETF
XHB
$1.58B
$39.4M 0.1%
+400,000
New +$38M
JCI icon
182
Johnson Controls International
JCI
$92.6B
$39.4M 0.1%
373,300
-19,840
-5% -$1.83M
CSX icon
183
CSX Corp
CSX
$92.8B
$39.4M 0.1%
1,206,939
-277,254
-19% -$8.34M
CL icon
184
Colgate-Palmolive
CL
$73.6B
$39.1M 0.1%
430,032
-57,335
-12% -$5.23M
ITW icon
185
Illinois Tool Works
ITW
$83.3B
$39M 0.1%
157,899
-16,652
-10% -$4.02M
SNOW icon
186
Snowflake
SNOW
$115B
$37.9M 0.09%
169,391
-19,811
-10% -$3.58M
AON icon
187
Aon
AON
$74.7B
$37.7M 0.09%
105,706
-5,574
-5% -$2.02M
ROP icon
188
Roper Technologies
ROP
$39.1B
$37.5M 0.09%
66,088
+870
+1% +$492K
COIN icon
189
Coinbase
COIN
$39.3B
$37.4M 0.09%
106,620
-2,901
-3% -$678K
PYPL icon
190
PayPal
PYPL
$50.6B
$37.3M 0.09%
501,511
-34,578
-6% -$2.37M
COR icon
191
Cencora
COR
$60B
$36.7M 0.09%
122,551
+17,010
+16% +$4.9M
ECL icon
192
Ecolab
ECL
$78.1B
$36.7M 0.09%
136,285
-38,326
-22% -$9.74M
HOOD icon
193
Robinhood
HOOD
$85.3B
$36.6M 0.09%
390,498
+49,114
+14% +$2.91M
AZO icon
194
AutoZone
AZO
$49.7B
$35.9M 0.09%
9,682
+248
+3% +$914K
EOG icon
195
EOG Resources
EOG
$75.1B
$35.9M 0.09%
300,260
-20,644
-6% -$2.36M
MRVL icon
196
Marvell Technology
MRVL
$195B
$35.8M 0.09%
462,263
-24,595
-5% -$1.54M
GD icon
197
General Dynamics
GD
$107B
$35.5M 0.09%
121,762
-9,644
-7% -$2.65M
MAR icon
198
Marriott International
MAR
$92.5B
$35.5M 0.09%
129,927
-7,518
-5% -$1.89M
VST icon
199
Vistra
VST
$49.2B
$35.2M 0.09%
181,709
-16,519
-8% -$2.44M
AXON
200
Axon Enterprise
AXON
$48.7B
$35.2M 0.09%
42,458
-10,541
-20% -$7.17M
6 7
8
9 10

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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.