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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
BAB icon
201
Invesco Taxable Municipal Bond ETF
BAB
$1.01B
$35M 0.09%
1,318,800
– –
AIG icon
202
American International
AIG
$39.8B
$34.7M 0.08%
405,351
-6,876
-2% -$573K
KDP icon
203
Keurig Dr Pepper
KDP
$40.2B
$34.6M 0.08%
1,048,019
-114,594
-10% -$3.88M
HLT icon
204
Hilton Worldwide
HLT
$72.6B
$34.1M 0.08%
127,865
-9,238
-7% -$2.2M
CRH icon
205
CRH
CRH
$65.2B
$33.5M 0.08%
365,070
-17,697
-5% -$1.61M
APD icon
206
Air Products & Chemicals
APD
$67.7B
$33.5M 0.08%
118,738
-6,401
-5% -$1.75M
MPC icon
207
Marathon Petroleum
MPC
$97.8B
$33.4M 0.08%
201,307
-28,319
-12% -$4.25M
TFC icon
208
Truist Financial
TFC
$64.3B
$33.4M 0.08%
776,785
-104,257
-12% -$4.08M
MNST icon
209
Monster Beverage
MNST
$90.1B
$33.4M 0.08%
1,065,458
-99,848
-9% -$3.05M
FCX icon
210
Freeport-McMoran
FCX
$96.9B
$33.3M 0.08%
767,233
-40,959
-5% -$1.56M
KMI icon
211
Kinder Morgan
KMI
$70.7B
$33.2M 0.08%
1,130,136
-53,094
-4% -$1.46M
CENTA icon
212
Central Garden & Pet Co Class A
CENTA
$2.43B
$33.2M 0.08%
1,061,588
-7,235
-0.7% -$226K
ALL icon
213
Allstate
ALL
$64.7B
$33M 0.08%
164,026
-8,440
-5% -$1.68M
WDAY icon
214
Workday
WDAY
$43.3B
$32.6M 0.08%
135,709
-1,130
-0.8% -$275K
IEMG icon
215
iShares Core MSCI Emerging Markets ETF
IEMG
$158B
$32.5M 0.08%
541,700
+5,900
+1% +$329K
ABNB icon
216
Airbnb
ABNB
$108B
$32.4M 0.08%
245,036
-18,432
-7% -$2.33M
CPRT icon
217
Copart
CPRT
$26.8B
$32.4M 0.08%
660,781
+101,223
+18% +$5.66M
NET icon
218
Cloudflare
NET
$111B
$32.3M 0.08%
164,813
-7,322
-4% -$1.06M
CTVA icon
219
Corteva
CTVA
$50.4B
$32.1M 0.08%
430,423
-84,543
-16% -$5.63M
AEP icon
220
American Electric Power
AEP
$67.9B
$32M 0.08%
307,967
+8,784
+3% +$914K
TEL icon
221
TE Connectivity
TEL
$62B
$31.5M 0.08%
186,954
+14,904
+9% +$2.26M
AMCR icon
222
Amcor
AMCR
$21.5B
$31.5M 0.08%
685,723
+333,916
+95% +$15.4M
SPY icon
223
State Street SPDR S&P 500 ETF Trust
SPY
$809B
$31.4M 0.08%
50,886
+3,846
+8% +$2.2M
CARR icon
224
Carrier Global
CARR
$52B
$31.3M 0.08%
428,100
-84,308
-16% -$5.72M
DLR icon
225
Digital Realty Trust
DLR
$72.9B
$31.3M 0.08%
179,703
-6,980
-4% -$1.14M
7 8
9
10 11

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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.