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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
+4.52%
1 Year Est. Return
+52.24%
3 Year Est. Return
+130.83%
5 Year Est. Return
+163.43%
10 Year Est. Return
–
AUM
$913M
AUM Growth
+$35.7M
Cap. Flow
+$18.6M
Cap. Flow %
2.04%
Top 10 Hldgs %
33.09%
Holding
2,157
New
341
Increased
852
Reduced
581
Closed
374

Top Buys

Rank Stock Value
1
NVDA icon
NVIDIA
NVDA
+$4.61M
2
MSFT icon
Microsoft
MSFT
+$3.9M
3
EEM icon
iShares MSCI Emerging Markets ETF
EEM
+$2.67M
4
SPOT icon
Spotify
SPOT
+$1.67M
5
ILMN icon
Illumina
ILMN
+$1.3M

Top Sells

Rank Stock Value
1
AAPL icon
Apple
AAPL
+$8.51M
2
ACWX icon
iShares MSCI ACWI ex US ETF
ACWX
+$3.92M
3
WBD icon
Warner Bros
WBD
+$3.91M
4
META icon
Meta Platforms (Facebook)
META
+$2.81M
5
V icon
Visa
V
+$2.19M

Sector Composition

Rank Sector Weight
1 Technology 17.73%
2 Industrials 12.35%
3 Healthcare 8.84%
4 Consumer Discretionary 8.51%
5 Financials 7.54%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
LNC icon
1976
Lincoln National
LNC
$8.6B
– –
-9,398
Closed -$379K
LNW
1977
DELISTED
Light & Wonder
LNW
– –
-673
Closed -$56.5K
LZB icon
1978
La-Z-Boy
LZB
$1.66B
– –
-3,607
Closed -$124K
MAIN icon
1979
Main Street Capital
MAIN
$5.53B
– –
-969
Closed -$61.6K
MAT icon
1980
Mattel
MAT
$4.32B
– –
-15,251
Closed -$257K
MCD icon
1981
McDonald's
MCD
$192B
– –
-435
Closed -$132K
MCK icon
1982
McKesson
MCK
$104B
– –
-117
Closed -$90.4K
MCO icon
1983
Moody's
MCO
$82.7B
– –
-259
Closed -$123K
MCS icon
1984
Marcus Corp
MCS
$915M
– –
-18,153
Closed -$282K
SUIG
1985
Sui Group Holdings
SUIG
$67.7M
– –
-9,264
Closed -$35.8K
MCY icon
1986
Mercury Insurance
MCY
$5.92B
– –
-845
Closed -$71.6K
MEC icon
1987
Mayville Engineering Co
MEC
$580M
– –
-12,315
Closed -$169K
MEOH icon
1988
Methanex
MEOH
$4.31B
– –
-1,745
Closed -$69.4K
METC icon
1989
Ramaco Resources Class A
METC
$644M
– –
-10,753
Closed -$357K
MKC icon
1990
McCormick & Company Non-Voting
MKC
$14.2B
– –
-934
Closed -$62.5K
MLAB icon
1991
Mesa Laboratories
MLAB
$581M
– –
-198
Closed -$13.3K
MLR icon
1992
Miller Industries
MLR
$613M
– –
-2,804
Closed -$113K
MRTN icon
1993
Marten Transport
MRTN
$1.18B
– –
-3,356
Closed -$35.8K
MRUS
1994
DELISTED
Merus
MRUS
– –
-1,013
Closed -$95.4K
MSCI icon
1995
MSCI
MSCI
$40.8B
– –
-125
Closed -$70.9K
MSDL icon
1996
Morgan Stanley Direct Lending Fund
MSDL
$1.29B
– –
-3,543
Closed -$57K
MSGE icon
1997
Madison Square Garden
MSGE
$3.71B
– –
-1,563
Closed -$70.7K
MT icon
1998
ArcelorMittal
MT
$55.8B
– –
-998
Closed -$36.1K
MTD icon
1999
Mettler-Toledo International
MTD
$28.7B
– –
-54
Closed -$66.3K
MTB icon
2000
M&T Bank
MTB
$36.5B
– –
-2
Closed -$395
78 79
80
81 82

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LMC
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PCM
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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
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N
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State of Wyoming's Q4 2025 Portfolio in Review

As of Q4 2025, State of Wyoming held 2,157 positions worth $913M, up 4.1% from $877M the previous quarter. Its ten largest holdings account for 33% of the portfolio.

State of Wyoming's Q4 2025 filing shows 341 new, 852 increased, 581 reduced and 374 closed positions. Its largest new stake was iShares MSCI Emerging Markets ETF: 49,110 shares worth $2.69M. The largest sale was Apple, an estimated $8.51M.

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

  • State of Wyoming's largest Q4 2025 buy was iShares MSCI Emerging Markets ETF: 49,110 shares worth $2.69M.
  • State of Wyoming added most to NVIDIA in Q4 2025, an estimated $4.61M increase.
  • State of Wyoming's biggest Q4 2025 reduction was Apple, cutting an estimated $8.51M.
  • State of Wyoming fully exited Warner Bros in Q4 2025, selling an estimated $3.91M.
  • State of Wyoming's ten largest holdings make up 33% of its $913M portfolio in Q4 2025.
  • State of Wyoming opened 341 new positions and closed 374 in Q4 2025.
  • State of Wyoming's portfolio value rose 4.1% quarter-over-quarter to $913M.

Based on State of Wyoming's 13F filing for Q4 2025, filed 11 Feb 2026.