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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 | |
|---|---|---|---|---|---|---|
2226
Yext
YEXT
$574M
| $96.3K | ﹤0.01% |
11,326
-146,409
| -93% | -$1.03M |
|
2227
LegalZoom.com
LZ
$930M
| $94.7K | ﹤0.01% |
10,632
+595
| +6% | +$4.99K |
|
|
LYRA
2228
DELISTED
LYRA THERAPEUTICS INC
LYRA
| $94.1K | ﹤0.01% |
+10,500
| New | +$87.1K |
|
2229
Biote Corp
BTMD
$40.7M
| $91.3K | ﹤0.01% |
22,700
-19,900
| -47% | -$73.4K |
|
2230
Larimar Therapeutics
LRMR
$454M
| $91.1K | ﹤0.01% |
31,515
-56,012
| -64% | -$130K |
|
2231
Townsquare Media
TSQ
$103M
| $91K | ﹤0.01% |
11,500
-2,300
| -17% | -$16.3K |
|
|
OLO
2232
DELISTED
Olo Inc
OLO
| $90.2K | ﹤0.01% |
10,137
-877
| -8% | -$6.8K |
|
2233
Kosmos Energy
KOS
$1.49B
| $89.9K | ﹤0.01% |
52,271
-160,042
| -75% | -$290K |
|
2234
Rocket Pharmaceuticals
RCKT
$374M
| $86.5K | ﹤0.01% |
35,300
-1,499
| -4% | -$7.59K |
|
2235
Cullinan Oncology
CGEM
$1.26B
| $84.1K | ﹤0.01% |
+11,173
| New | +$89.8K |
|
2236
CS Disco
LAW
$280M
| $82.1K | ﹤0.01% |
+18,783
| New | +$73.6K |
|
|
BBBY
2237
Bed Bath & Beyond
BBBY
$403M
| $81.6K | ﹤0.01% |
+13,044
| New | +$63.2K |
|
2238
Capitol Federal Financial
CFFN
$1.1B
| $79.3K | ﹤0.01% |
13,002
+1,016
| +8% | +$5.75K |
|
|
ONL
2239
Orion Office REIT
ONL
$161M
| $77.1K | ﹤0.01% |
36,200
-12,400
| -26% | -$23.6K |
|
2240
4D Molecular Therapeutics
FDMT
$621M
| $73.5K | ﹤0.01% |
19,798
-6,538
| -25% | -$23K |
|
2241
Duluth Holdings
DLTH
$151M
| $70.1K | ﹤0.01% |
33,400
-3,300
| -9% | -$6.2K |
|
2242
Voyager Therapeutics
VYGR
$197M
| $67.2K | ﹤0.01% |
+21,619
| New | +$69.7K |
|
2243
Lifestance Health
LFST
$4.67B
| $64.9K | ﹤0.01% |
12,545
-772
| -6% | -$4.63K |
|
2244
Vestis
VSTS
$1.87B
| $62.8K | ﹤0.01% |
10,966
-687
| -6% | -$4.82K |
|
|
RZLVW
2245
Rezolve AI Warrants
RZLVW
$5.47M
| $60K | ﹤0.01% |
75,000
| – | – |
|
2246
MacroGenics
MGNX
$256M
| $54.7K | ﹤0.01% |
45,200
-19,875
| -31% | -$28.8K |
|
|
ISPO
2247
DELISTED
Inspirato
ISPO
| $52.5K | ﹤0.01% |
15,358
| – | – |
|
2248
Agilon Health
AGL
$1.45B
| $49.2K | ﹤0.01% |
856
-411
| -32% | -$33K |
|
|
OPTU
2249
Optimum Communications Inc
OPTU
$227M
| $48.4K | ﹤0.01% |
22,614
| – | – |
|
2250
Monte Rosa Therapeutics
GLUE
$1.36B
| $47.1K | ﹤0.01% |
10,435
-27,200
| -72% | -$121K |
|
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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.