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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
AAPL icon
1
Apple
AAPL
$4.45T
$1.96B 5.07%
8,835,636
+116,065
+1% +$26.9M
MSFT icon
2
Microsoft
MSFT
$3.74T
$1.56B 4.03%
4,159,241
+97,803
+2% +$39.9M
NVDA icon
3
NVIDIA
NVDA
$5.27T
$1.56B 4.03%
14,404,543
+348,855
+2% +$44.2M
AMZN icon
4
Amazon
AMZN
$2.94T
$1.05B 2.71%
5,520,247
+149,158
+3% +$32.4M
GOOGL icon
5
Alphabet (Google) Class A
GOOGL
$4.2T
$873M 2.26%
5,646,794
+2,131,048
+61% +$386M
RSP icon
6
Invesco S&P 500 Equal Weight ETF
RSP
$99.3B
$794M 2.05%
4,584,878
+4,468,754
+3,848% +$795M
META icon
7
Meta Platforms (Facebook)
META
$1.53T
$731M 1.89%
1,268,260
+35,674
+3% +$23M
AVGO icon
8
Broadcom
AVGO
$1.98T
$445M 1.15%
2,659,706
+116,115
+5% +$24.6M
GOOG icon
9
Alphabet (Google) Class C
GOOG
$4.19T
$437M 1.13%
2,799,010
+7,366
+0.3% +$1.35M
TSLA icon
10
Tesla
TSLA
$1.31T
$429M 1.11%
1,656,530
+60,512
+4% +$20.2M
JPM icon
11
JPMorgan Chase
JPM
$961B
$405M 1.05%
1,651,032
+33,893
+2% +$8.64M
BRK.B icon
12
Berkshire Hathaway Class B
BRK.B
$1.1T
$400M 1.03%
750,708
+14,667
+2% +$7.13M
LLY icon
13
Eli Lilly
LLY
$1.08T
$388M 1%
470,122
+6,710
+1% +$5.58M
V icon
14
Visa
V
$676B
$354M 0.91%
1,009,685
+46,393
+5% +$15.7M
HAPI icon
15
Harbor Human Capital Factor US Large Cap ETF
HAPI
$507M
$337M 0.87%
9,871,200
– –
FOX icon
16
Fox Class B
FOX
$23.2B
$316M 0.82%
5,993,903
+132,928
+2% +$6.6M
XOM icon
17
ExxonMobil
XOM
$657B
$301M 0.78%
2,531,145
-1,031
-0% -$114K
UNH icon
18
UnitedHealth
UNH
$365B
$273M 0.71%
521,771
+5,446
+1% +$2.78M
MA icon
19
Mastercard
MA
$492B
$266M 0.69%
484,890
+13,863
+3% +$7.55M
COST icon
20
Costco
COST
$419B
$250M 0.65%
264,167
+9,506
+4% +$9.27M
BRK.A icon
21
Berkshire Hathaway Class A
BRK.A
$1.1T
$246M 0.64%
308
+124
+67% +$90.4M
ISTB icon
22
iShares Core 1-5 Year USD Bond ETF
ISTB
$5.12B
$244M 0.63%
5,045,925
+300
+0% +$14.4K
PG icon
23
Procter & Gamble
PG
$338B
$242M 0.63%
1,420,944
+56,182
+4% +$9.41M
NFLX icon
24
Netflix
NFLX
$311B
$235M 0.61%
2,517,800
+29,950
+1% +$2.85M
JNJ icon
25
Johnson & Johnson
JNJ
$625B
$229M 0.59%
1,383,262
+28,532
+2% +$4.46M
1
2 3 4 5

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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.