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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
-2.67%
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
$38.7B
AUM Growth
-$490M
Cap. Flow
+$1.41B
Cap. Flow %
3.64%
Top 10 Hldgs %
25.43%
Holding
2,386
New
123
Increased
1,235
Reduced
836
Closed
145

Top Buys

Rank Stock Value
1
RSP icon
Invesco S&P 500 Equal Weight ETF
RSP
+$795M
2
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$386M
3
EFFE
Harbor Osmosis Emerging Markets Resource Efficient ETF
EFFE
+$105M
4
BRK.A icon
Berkshire Hathaway Class A
BRK.A
+$90.4M
5
EFFI
Harbor Osmosis International Resource Efficient ETF
EFFI
+$58.1M

Top Sells

Rank Stock Value
1
IBIT icon
iShares Bitcoin Trust
IBIT
+$322M
2
USHY icon
iShares Broad USD High Yield Corporate Bond ETF
USHY
+$85.2M
3
HEI.A icon
HEICO Corp Class A
HEI.A
+$34.6M
4
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$26.5M
5
ALTR
Altair Engineering Inc
ALTR
+$21.6M

Sector Composition

Rank Sector Weight
1 Technology 24.98%
2 Financials 13.13%
3 Communication Services 10.56%
4 Healthcare 10.1%
5 Consumer Discretionary 9.45%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
FLNA
2326
Filana Therapeutics
FLNA
$45.1M
– –
-26,818
Closed -$63.3K
SCCO icon
2327
CALL
Southern Copper
SCCO
$165B
– –
-42,728
Closed -$3.65M
SHOE
2328
Shoe Station Group
SHOE
$420M
– –
-12,313
Closed -$407K
SFL icon
2329
SFL Corp
SFL
$1.57B
– –
-34,841
Closed -$356K
SFIX
2330
Stitch Fix
SFIX
$474M
– –
-60,200
Closed -$259K
SLQD icon
2331
iShares 0-5 Year Investment Grade Corporate Bond ETF
SLQD
$2.38B
– –
-20,680
Closed -$1.03M
SMP icon
2332
Standard Motor Products
SMP
$877M
– –
-13,681
Closed -$424K
SPNS
2333
DELISTED
Sapiens International
SPNS
– –
-11,233
Closed -$302K
SSTK icon
2334
Shutterstock
SSTK
$208M
– –
-36,656
Closed -$1.11M
SWBI icon
2335
Smith & Wesson
SWBI
$636M
– –
-44,322
Closed -$448K
TALK icon
2336
Talkspace
TALK
$869M
– –
-33,400
Closed -$103K
TBPH icon
2337
Theravance Biopharma
TBPH
$878M
– –
-58,001
Closed -$546K
TGI
2338
DELISTED
Triumph Group
TGI
– –
-234,594
Closed -$4.38M
THFF icon
2339
First Financial Corp
THFF
$970M
– –
-5,341
Closed -$247K
THRD
2340
DELISTED
Third Harmonic Bio
THRD
– –
-29,800
Closed -$307K
THRM icon
2341
Gentherm
THRM
$1.27B
– –
-21,468
Closed -$857K
TLT icon
2342
CALL
iShares 20+ Year Treasury Bond ETF
TLT
$40.6B
– –
-1,500,000
Closed -$131M
UEIC icon
2343
Universal Electronics
UEIC
$75.8M
– –
-11,100
Closed -$122K
USHY icon
2344
iShares Broad USD High Yield Corporate Bond ETF
USHY
$29.1B
– –
-2,316,927
Closed -$85.2M
UTZ icon
2345
Utz Brands
UTZ
$1.25B
– –
-30,564
Closed -$479K
VHI icon
2346
Valhi
VHI
$463M
– –
-11,000
Closed -$257K
VRNT
2347
DELISTED
Verint Systems
VRNT
– –
-7,930
Closed -$218K
VTLE
2348
DELISTED
Vital Energy
VTLE
– –
-36,357
Closed -$1.12M
WEAV icon
2349
Weave Communications
WEAV
$401M
– –
-40,081
Closed -$638K
WERN icon
2350
Werner Enterprises
WERN
$2.27B
– –
-5,826
Closed -$209K
92 93
94
95 96

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State of Wisconsin Investment Board's Q1 2025 Portfolio in Review

As of Q1 2025, State of Wisconsin Investment Board held 2,386 positions worth $38.7B, down 1.2% from $39.2B the previous quarter. Its ten largest holdings account for 25% of the portfolio.

State of Wisconsin Investment Board deployed $1.41B of net new capital in Q1 2025, opening 123 new positions and adding to 1,235 existing holdings. Its largest new stake was Harbor Osmosis Emerging Markets Resource Efficient ETF: 5,140,000 shares worth $106M.

By sector, the portfolio is most concentrated in Technology at 25% of assets, down from 28% a quarter earlier, followed by Financials and Communication Services.

On the sell side, the largest reduction was HEICO Corp Class A, an estimated $34.6M trimmed.

  • State of Wisconsin Investment Board's largest Q1 2025 buy was Harbor Osmosis Emerging Markets Resource Efficient ETF: 5,140,000 shares worth $106M.
  • State of Wisconsin Investment Board added most to Invesco S&P 500 Equal Weight ETF in Q1 2025, an estimated $795M increase.
  • State of Wisconsin Investment Board's biggest Q1 2025 reduction was HEICO Corp Class A, cutting an estimated $34.6M.
  • State of Wisconsin Investment Board fully exited iShares Bitcoin Trust in Q1 2025, selling an estimated $322M.
  • State of Wisconsin Investment Board's ten largest holdings make up 25% of its $38.7B portfolio in Q1 2025.
  • State of Wisconsin Investment Board opened 123 new positions and closed 145 in Q1 2025.
  • State of Wisconsin Investment Board's portfolio value fell 1.2% quarter-over-quarter to $38.7B.

Based on State of Wisconsin Investment Board's 13F filing for Q1 2025, filed 15 May 2025.