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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
NVRI icon
2001
Enviri
NVRI
$575M
$313K ﹤0.01%
36,008
-3,818
-10% -$28K
AAMI
2002
Acadian Asset Management
AAMI
$3.3B
$312K ﹤0.01%
8,848
-27,101
-75% -$788K
UVV icon
2003
Universal Corp
UVV
$1.13B
$312K ﹤0.01%
5,352
-727
-12% -$41.9K
TILE icon
2004
Interface
TILE
$2.24B
$310K ﹤0.01%
14,789
-20,883
-59% -$414K
CLSK icon
2005
CleanSpark
CLSK
$2.95B
$308K ﹤0.01%
27,966
-2,526
-8% -$22.5K
TG icon
2006
Tredegar Corp
TG
$276M
$308K ﹤0.01%
35,000
+1,200
+4% +$9.68K
ANGI icon
2007
Angi Inc
ANGI
$189M
$307K ﹤0.01%
+20,092
New +$290K
SPRY icon
2008
ARS Pharmaceuticals
SPRY
$608M
$306K ﹤0.01%
17,557
-36,679
-68% -$529K
APAM icon
2009
Artisan Partners
APAM
$3.01B
$305K ﹤0.01%
6,888
-386
-5% -$15.4K
FULT icon
2010
Fulton Financial
FULT
$4.69B
$304K ﹤0.01%
16,877
-1,707
-9% -$29.2K
WSFS icon
2011
WSFS Financial
WSFS
$4.16B
$302K ﹤0.01%
5,482
-720
-12% -$37.4K
CRVL icon
2012
CorVel
CRVL
$3.22B
$300K ﹤0.01%
2,918
-3,457
-54% -$381K
AMC icon
2013
AMC Entertainment Holdings
AMC
$2.36B
$299K ﹤0.01%
96,539
-252
-0.3% -$748
NRIM icon
2014
Northrim BanCorp
NRIM
$602M
$299K ﹤0.01%
12,832
-3,332
-21% -$69.3K
BRC icon
2015
Brady Corp
BRC
$4.44B
$299K ﹤0.01%
4,400
-159
-3% -$11.1K
PLSE icon
2016
Pulse Biosciences
PLSE
$3.19B
$297K ﹤0.01%
19,670
-11,220
-36% -$186K
BXMT icon
2017
Blackstone Mortgage Trust
BXMT
$2.44B
$296K ﹤0.01%
15,371
-1,651
-10% -$31.3K
MED icon
2018
Medifast
MED
$131M
$296K ﹤0.01%
+21,056
New +$277K
WVE icon
2019
Wave Life Sciences
WVE
$1.04B
$295K ﹤0.01%
45,458
-60,444
-57% -$399K
LIND icon
2020
Lindblad Expeditions
LIND
$2.25B
$294K ﹤0.01%
25,157
-15,761
-39% -$156K
FHB icon
2021
First Hawaiian
FHB
$3.39B
$294K ﹤0.01%
11,760
-4,258
-27% -$99.8K
PDFS icon
2022
PDF Solutions
PDFS
$2.13B
$293K ﹤0.01%
13,690
-47,846
-78% -$906K
ECG
2023
Everus Construction Group
ECG
$7.05B
$292K ﹤0.01%
+4,601
New +$233K
TEX icon
2024
Terex
TEX
$7.6B
$290K ﹤0.01%
6,221
-4,849
-44% -$203K
VEL icon
2025
Velocity Financial
VEL
$711M
$290K ﹤0.01%
+15,624
New +$274K
79 80
81
82 83

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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.