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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
WKC icon
2351
World Kinect Corp
WKC
$1.89B
– –
-44,525
Closed -$1.22M
XBI icon
2352
State Street SPDR S&P Biotech ETF
XBI
$10.5B
– –
-105,696
Closed -$9.52M
XPEL icon
2353
XPEL
XPEL
$1.35B
– –
-15,262
Closed -$610K
YMAB
2354
DELISTED
Y-mAbs Therapeutics
YMAB
– –
-37,857
Closed -$296K
ZEUS
2355
DELISTED
Olympic Steel
ZEUS
– –
-8,034
Closed -$264K
ZYXI
2356
DELISTED
Zynex
ZYXI
– –
-30,600
Closed -$245K
ALAB icon
2357
Astera Labs
ALAB
$55.3B
– –
-31,602
Closed -$4.19M
TE
2358
T1 Energy
TE
$1.44B
– –
-69,000
Closed -$178K
NBIS
2359
Nebius Group N.V.
NBIS
$70.5B
– –
-136,287
Closed -$3.78M
ECG
2360
Everus Construction Group
ECG
$7.15B
– –
-4,747
Closed -$312K
ALTR
2361
DELISTED
Altair Engineering Inc
ALTR
– –
-197,530
Closed -$21.6M
EDR
2362
DELISTED
Endeavor Group Holdings, Inc.
EDR
– –
-25,120
Closed -$786K
AZPN
2363
DELISTED
Aspen Technology Inc
AZPN
– –
-16,088
Closed -$4.02M
VMCAW
2364
DELISTED
Valuence Merger Corp. I Warrant
VMCAW
– –
-165,000
Closed -$5.78K
ALTM
2365
DELISTED
Arcadium Lithium plc
ALTM
– –
-100,841
Closed -$517K
INFN
2366
DELISTED
Infinera Corporation Common Stock
INFN
– –
-742,587
Closed -$4.88M
MTTR
2367
DELISTED
Matterport, Inc. Class A Common Stock
MTTR
– –
-25,977
Closed -$123K
HCP
2368
DELISTED
HashiCorp, Inc. Class A Common Stock
HCP
– –
-17,223
Closed -$589K
OMGA
2369
DELISTED
Omega Therapeutics, Inc. Common Stock
OMGA
– –
-1,857,265
Closed -$1.38M
NARI
2370
DELISTED
Inari Medical, Inc. Common Stock
NARI
– –
-107,758
Closed -$5.5M
BYNOW
2371
DELISTED
byNordic Acquisition Corporation Warrant
BYNOW
– –
-200,000
Closed -$8.53K
ZUO
2372
DELISTED
Zuora, Inc.
ZUO
– –
-13,145
Closed -$130K
ROIC
2373
DELISTED
Retail Opportunity Investments Corp.
ROIC
– –
-56,157
Closed -$975K
SUM
2374
DELISTED
Summit Materials, Inc. Class A Common Stock
SUM
– –
-11,555
Closed -$585K
CDMO
2375
DELISTED
Avid Bioservices, Inc. Common Stock
CDMO
– –
-42,373
Closed -$523K
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.