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SOW

State of Wyoming Portfolio holdings

AUM $989M
1-Year Est. Return 52.24%
This Fund
S&P 500
This Quarter Est. Return
+14.97%
1 Year Est. Return
+52.24%
3 Year Est. Return
+130.83%
5 Year Est. Return
+163.43%
10 Year Est. Return
–
AUM
$877M
AUM Growth
+$58.9M
Cap. Flow
-$9.92M
Cap. Flow %
-1.13%
Top 10 Hldgs %
33.54%
Holding
2,117
New
288
Increased
758
Reduced
754
Closed
301

Top Buys

Rank Stock Value
1
MSFT icon
Microsoft
MSFT
+$6.36M
2
V icon
Visa
V
+$2.14M
3
XOM icon
ExxonMobil
XOM
+$1.59M
4
TD icon
Toronto Dominion Bank
TD
+$1.36M
5
PDD icon
Pinduoduo
PDD
+$1.14M

Top Sells

Rank Stock Value
1
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$3.81M
2
OSCR icon
Oscar Health
OSCR
+$1.82M
3
RBLX icon
Roblox
RBLX
+$1.8M
4
CCO icon
Clear Channel Outdoor Holdings
CCO
+$1.79M
5
CSCO icon
Cisco
CSCO
+$1.79M

Sector Composition

Rank Sector Weight
1 Technology 17.86%
2 Industrials 12.05%
3 Financials 7.89%
4 Consumer Discretionary 7.83%
5 Healthcare 7.54%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
KREF
1951
KKR Real Estate Finance Trust
KREF
$496M
– –
-10,528
Closed -$92.3K
LAD icon
1952
Lithia Motors
LAD
$8.29B
– –
-198
Closed -$66.9K
LDI icon
1953
loanDepot
LDI
$482M
– –
-8,261
Closed -$10.5K
LE icon
1954
Lands' End
LE
$393M
– –
-23,256
Closed -$249K
LEE icon
1955
Lee Enterprises
LEE
$180M
– –
-3,553
Closed -$22.6K
LFCR icon
1956
Lifecore Biomedical
LFCR
$185M
– –
-8,504
Closed -$69.1K
LILAK icon
1957
Liberty Latin America Class C
LILAK
$1.66B
– –
-12,101
Closed -$68.4K
LIND icon
1958
Lindblad Expeditions
LIND
$2.19B
– –
-24,480
Closed -$286K
LMT icon
1959
Lockheed Martin
LMT
$139B
– –
-654
Closed -$303K
LOCO icon
1960
El Pollo Loco
LOCO
$471M
– –
-17,111
Closed -$188K
LYTS icon
1961
LSI Industries
LYTS
$908M
– –
-10,245
Closed -$174K
MAA icon
1962
Mid-America Apartment Communities
MAA
$15.4B
– –
-2,401
Closed -$355K
MAC icon
1963
Macerich
MAC
$6.86B
– –
-11,920
Closed -$193K
MCW
1964
DELISTED
Mister Car Wash
MCW
– –
-15,187
Closed -$91.3K
MDT icon
1965
Medtronic
MDT
$114B
– –
-694
Closed -$60.5K
MED icon
1966
Medifast
MED
$135M
– –
-8,183
Closed -$115K
MERC icon
1967
Mercer International
MERC
$35.2M
– –
-53,656
Closed -$188K
METCB icon
1968
Ramaco Resources Class B
METCB
$414M
– –
-58
Closed -$450
MGNX icon
1969
MacroGenics
MGNX
$260M
– –
-31,557
Closed -$38.2K
MIRM icon
1970
Mirum Pharmaceuticals
MIRM
$6.02B
– –
-202
Closed -$10.3K
MITT
1971
TPG Mortgage Investment Trust
MITT
$203M
– –
-24,332
Closed -$184K
MKTX icon
1972
MarketAxess Holdings
MKTX
$5.72B
– –
-580
Closed -$130K
MLNK
1973
DELISTED
MeridianLink
MLNK
– –
-12,871
Closed -$209K
MRSH
1974
Marsh
MRSH
$90.8B
– –
-506
Closed -$111K
MMI icon
1975
Marcus & Millichap
MMI
$1.18B
– –
-3,638
Closed -$112K
77 78
79
80 81

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LMC
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PCM
Polymer Capital Management New York $988M AUM 56.33% 1-Year Est. Return
KIA
Knollwood Investment Advisory Hunt Valley, Maryland $992M AUM 28.95% 1-Year Est. Return
PCM
Politan Capital Management New York $985M AUM 3.12% 1-Year Est. Return
SMM
Stadion Money Management Watkinsville, Georgia $994M AUM 15.96% 1-Year Est. Return
SWA
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GCM
Gladstone Capital Management London, United Kingdom $996M AUM 50.16% 1-Year Est. Return
N
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State of Wyoming's Q3 2025 Portfolio in Review

As of Q3 2025, State of Wyoming held 2,117 positions worth $877M, up 7.2% from $818M the previous quarter. Its ten largest holdings account for 34% of the portfolio.

State of Wyoming's Q3 2025 filing shows 288 new, 758 increased, 754 reduced and 301 closed positions. Its largest new stake was Pinduoduo: 9,620 shares worth $1.27M. The largest sale was State Street SPDR S&P 500 ETF Trust, an estimated $3.81M.

By sector, the portfolio is most concentrated in Technology at 18% of assets, up from 16% a quarter earlier, followed by Industrials and Financials.

  • State of Wyoming's largest Q3 2025 buy was Pinduoduo: 9,620 shares worth $1.27M.
  • State of Wyoming added most to Microsoft in Q3 2025, an estimated $6.36M increase.
  • State of Wyoming's biggest Q3 2025 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $3.81M.
  • State of Wyoming fully exited CyberArk in Q3 2025, selling an estimated $1.41M.
  • State of Wyoming's ten largest holdings make up 34% of its $877M portfolio in Q3 2025.
  • State of Wyoming opened 288 new positions and closed 301 in Q3 2025.
  • State of Wyoming's portfolio value rose 7.2% quarter-over-quarter to $877M.

Based on State of Wyoming's 13F filing for Q3 2025, filed 4 Nov 2025.