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State of Wisconsin Investment Board

CIK:0000854157
Pension Fund
$162B AUM
2,313 holdings
Madison, WI, United States
Founded:1951
200 employees
Latest filing:Jun 30, 2025

The State of Wisconsin Investment Board (SWIB), headquartered in Madison, Wisconsin, is a state agency created in 1951 responsible for managing the assets of the Wisconsin Retirement System (WRS), the State Investment Fund, and other state trust funds. SWIB is overseen by a nine-member Board of Trustees and manages assets for more than 692,000 participants and 1,500 employers. The agency employs professional investment staff and support personnel and is recognized as a premier institutional investor serving the retirement needs of Wisconsin’s public workforce.

Investment Strategy

SWIB pursues a disciplined, prudent, and innovative investment strategy with a strong focus on generating sustainable returns and managing risk on behalf of the Wisconsin Retirement System and other state trust funds. The investment approach involves diversified allocations across public equities, fixed income, real estate, private equity, and inflation protection assets, balancing internal portfolio management with selective use of external managers. SWIB follows fiduciary best practices and extensive due diligence, with asset allocation and investment decisions tailored to the long-term needs and risk profile of its beneficiaries.

Latest 13F Filing Activity

State of Wisconsin Investment Board filed their most recent 13F report on Jun 30, 2025 disclosing 2,219 equity positions and 2 options positions with a total 13F market value of $41B. The fund increased holdings in Nvidia Corporation, Invesco Exchange Traded FD T, Microsoft Corp. among other positions. State of Wisconsin Investment Board reduced exposure to Alphabet Inc., Apple Inc., Unitedhealth Group Inc. among others.

Top Buys
N
NVDANVIDIA CORPORATION
+$563.7M
R
RSPINVESCO EXCHANGE TRADED FD T
+$449.9M
M
MSFTMICROSOFT CORP
+$384.7M
A
AVGOBROADCOM INC
+$243.6M
M
METAMETA PLATFORMS INC
+$159.2M
Top Sells
G
GOOGLALPHABET INC
-$306.5M
A
AAPLAPPLE INC
-$246.0M
U
UNHUNITEDHEALTH GROUP INC
-$114.5M
Z
ZGZILLOW GROUP INC
-$56.2M
B
BRK-BBERKSHIRE HATHAWAY INC DEL
-$50.4M

Top Holdings

N
NVDANVIDIA CORPORATION
+5.2%$2.12B
M
MSFTMICROSOFT CORP
+4.7%$1.95B
A
AAPLAPPLE INC
+4.2%$1.72B
R
RSPINVESCO EXCHANGE TRADED FD T
+3.0%$1.24B
A
AMZNAMAZON COM INC
+2.8%$1.15B

Equity Positions (2,219)

TickerSecurityWeightMarket ValueSharesAvg CostPriceChange (QoQ)
NVIDIA CORPORATION5.19%$2.12B13,449,309$14.00$157.99+$563.7M
MICROSOFT CORP4.75%$1.95B3,912,383$90.62$497.41+$384.7M
APPLE INC4.19%$1.72B8,366,836$39.95$205.17-$246.0M
INVESCO EXCHANGE TRADED FD T3.04%$1.24B6,845,838$176.07$181.74+$449.9M
AMAZON COM INC2.81%$1.15B5,240,477$55.68$219.39+$99.4M

Options Positions (2)

TickerSecurityActionTypeNotional ValueContractsUnderlying PricePremium PaidChange (Contracts)Change (Value)
SPDR GOLD TR
Put
$73.2M2,400$304.83$242.130+$4.0M
SPDR SERIES TRUSTNew
Call
$20.9M1,664$125.80$125.80+1,664+$20.9M

Industry Allocation

SEMICONDUCTORS & RELATED DEVICES
+9.5%
SERVICES-PREPACKAGED SOFTWARE
+8.6%
SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC.
+7.2%
ELECTRONIC COMPUTERS
+4.8%
PHARMACEUTICAL PREPARATIONS
+3.7%