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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
PLUG icon
1976
Plug Power
PLUG
$3.2B
$335K ﹤0.01%
224,770
+141,800
+171% +$141K
UCB
1977
United Community Banks
UCB
$4.41B
$334K ﹤0.01%
11,215
-1,166
-9% -$32.4K
OSPN icon
1978
OneSpan
OSPN
$613M
$334K ﹤0.01%
20,012
-24,901
-55% -$386K
CHH icon
1979
Choice Hotels
CHH
$4.7B
$334K ﹤0.01%
2,632
-245
-9% -$31K
MLYS icon
1980
Mineralys Therapeutics
MLYS
$2.32B
$332K ﹤0.01%
24,551
+14,297
+139% +$207K
MRP
1981
Millrose Properties Inc
MRP
$5.02B
$332K ﹤0.01%
11,637
-557
-5% -$14.7K
GNW icon
1982
Genworth Financial
GNW
$3.76B
$331K ﹤0.01%
42,525
-74,615
-64% -$521K
TNK icon
1983
Teekay Tankers
TNK
$2.89B
$331K ﹤0.01%
+7,926
New +$339K
VSXY
1984
Victoria's Secret
VSXY
$7.33B
$329K ﹤0.01%
17,744
-2,744
-13% -$53.7K
TEAD
1985
Teads Holding Co
TEAD
$63.8M
$328K ﹤0.01%
132,400
-46,257
-26% -$140K
PMTS icon
1986
CPI Card Group
PMTS
$333M
$327K ﹤0.01%
13,800
+5,300
+62% +$125K
FELE icon
1987
Franklin Electric
FELE
$4.7B
$327K ﹤0.01%
3,640
-394
-10% -$34.5K
CXT icon
1988
Crane NXT
CXT
$2.95B
$327K ﹤0.01%
6,058
-32,947
-84% -$1.68M
REZI icon
1989
Resideo Technologies
REZI
$3.22B
$326K ﹤0.01%
14,773
-578
-4% -$11K
FHI icon
1990
Federated Hermes
FHI
$4.72B
$323K ﹤0.01%
7,287
-586
-7% -$24.1K
HIPO icon
1991
Hippo Holdings
HIPO
$872M
$322K ﹤0.01%
11,513
-12,952
-53% -$319K
RKT icon
1992
Rocket Companies
RKT
$42.6B
$321K ﹤0.01%
22,649
+8,095
+56% +$105K
MBUU icon
1993
Malibu Boats
MBUU
$573M
$321K ﹤0.01%
10,234
-649
-6% -$19.5K
GERN icon
1994
Geron
GERN
$994M
$320K ﹤0.01%
227,282
-96,781
-30% -$137K
FF icon
1995
Future Fuel
FF
$256M
$320K ﹤0.01%
82,500
-51,000
-38% -$205K
RNST icon
1996
Renasant Corp
RNST
$3.99B
$319K ﹤0.01%
8,878
-4,504
-34% -$150K
TRML
1997
DELISTED
Tourmaline Bio
TRML
$317K ﹤0.01%
19,822
+900
+5% +$14.6K
KVYO icon
1998
Klaviyo
KVYO
$5.15B
$317K ﹤0.01%
9,430
+1,937
+26% +$61.4K
PRTH icon
1999
Priority Technology Holdings
PRTH
$450M
$316K ﹤0.01%
40,581
-1,466
-3% -$11K
FBRT
2000
Franklin BSP Realty Trust
FBRT
$676M
$314K ﹤0.01%
+29,328
New +$329K
78 79
80
81 82

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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.