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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
+13.67%
1 Year Est. Return
+52.24%
3 Year Est. Return
+130.83%
5 Year Est. Return
+163.43%
10 Year Est. Return
–
AUM
$818M
AUM Growth
+$64.1M
Cap. Flow
-$13.5M
Cap. Flow %
-1.65%
Top 10 Hldgs %
32.72%
Holding
2,160
New
539
Increased
598
Reduced
690
Closed
331

Top Buys

Rank Stock Value
1
IBKR icon
Interactive Brokers
IBKR
+$2.49M
2
PWR icon
Quanta Services
PWR
+$2.25M
3
ALLY icon
Ally Financial
ALLY
+$1.97M
4
WBD icon
Warner Bros
WBD
+$1.92M
5
NRG icon
NRG Energy
NRG
+$1.77M

Top Sells

Rank Stock Value
1
EFA icon
iShares MSCI EAFE ETF
EFA
+$11M
2
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$8.76M
3
IWM icon
iShares Russell 2000 ETF
IWM
+$8.24M
4
IESC icon
IES Holdings
IESC
+$3.57M
5
EMXC icon
iShares MSCI Emerging Markets ex China ETF
EMXC
+$3.28M

Sector Composition

Rank Sector Weight
1 Technology 16.02%
2 Industrials 11.57%
3 Healthcare 8.4%
4 Consumer Discretionary 8.23%
5 Financials 7.91%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MDU icon
2001
MDU Resources
MDU
$4.29B
– –
-8,423
Closed -$142K
MG icon
2002
Mistras Group
MG
$502M
– –
-6,260
Closed -$66.2K
MGY icon
2003
Magnolia Oil & Gas
MGY
$6.16B
– –
-5,777
Closed -$146K
MNR icon
2004
Mach Natural Resources
MNR
$2.2B
– –
-6,943
Closed -$108K
MODV
2005
DELISTED
ModivCare
MODV
– –
-66,871
Closed -$87.9K
MRCY icon
2006
Mercury Systems
MRCY
$6.52B
– –
-15,721
Closed -$677K
MRSN
2007
DELISTED
Mersana Therapeutics
MRSN
– –
-11,820
Closed -$102K
MRT icon
2008
Marti Technologies
MRT
$154M
– –
-6,781
Closed -$21.1K
MS icon
2009
Morgan Stanley
MS
$338B
– –
-8
Closed -$933
MSDL icon
2010
Morgan Stanley Direct Lending Fund
MSDL
$1.28B
– –
-5,412
Closed -$108K
MSGS icon
2011
Madison Square Garden
MSGS
$9.43B
– –
-264
Closed -$51.4K
MTDR icon
2012
Matador Resources
MTDR
$6.49B
– –
-2,528
Closed -$129K
MU icon
2013
Micron Technology
MU
$972B
– –
-3,170
Closed -$275K
NABL icon
2014
N-able
NABL
$605M
– –
-17,411
Closed -$123K
NCLH icon
2015
Norwegian Cruise Line
NCLH
$8.52B
– –
-15,377
Closed -$292K
NGVC icon
2016
Vitamin Cottage Natural Grocers
NGVC
$605M
– –
-1,428
Closed -$57.4K
NHI icon
2017
National Health Investors
NHI
$3.59B
– –
-1,174
Closed -$86.7K
NI icon
2018
NiSource
NI
$20B
– –
-2,671
Closed -$107K
NMM icon
2019
Navios Maritime Partners
NMM
$2.24B
– –
-4,010
Closed -$157K
NNN icon
2020
NNN REIT
NNN
$8.8B
– –
-1,584
Closed -$67.6K
NODK icon
2021
NI Holdings
NODK
$314M
– –
-5,284
Closed -$75.3K
NSA
2022
DELISTED
National Storage Affiliates Trust
NSA
– –
-1,472
Closed -$58K
NSSC icon
2023
Napco Security Technologies
NSSC
$1.43B
– –
-8,587
Closed -$198K
NTRS icon
2024
Northern Trust
NTRS
$34.4B
– –
-437
Closed -$43.1K
NVEE
2025
DELISTED
NV5 Global
NVEE
– –
-9,728
Closed -$187K
79 80
81
82 83

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LMC
Lightspeed Management Company Menlo Park, California $988M AUM 7.5% 1-Year Est. Return
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
Strategies Wealth Advisors Grand Rapids, Michigan $995M AUM 19.35% 1-Year Est. Return
GCM
Gladstone Capital Management London, United Kingdom $996M AUM 50.16% 1-Year Est. Return
N
Numerai San Francisco, California $997M AUM 15.84% 1-Year Est. Return

State of Wyoming's Q2 2025 Portfolio in Review

As of Q2 2025, State of Wyoming held 2,160 positions worth $818M, up 8.5% from $754M the previous quarter. Its ten largest holdings account for 33% of the portfolio.

State of Wyoming's Q2 2025 filing shows 539 new, 598 increased, 690 reduced and 331 closed positions. Its largest new stake was Interactive Brokers: 52,384 shares worth $2.9M. The largest sale was iShares MSCI EAFE ETF, an estimated $11M.

By sector, the portfolio is most concentrated in Technology at 16% of assets, up from 15% a quarter earlier, followed by Industrials and Healthcare.

  • State of Wyoming's largest Q2 2025 buy was Interactive Brokers: 52,384 shares worth $2.9M.
  • State of Wyoming added most to Quanta Services in Q2 2025, an estimated $2.25M increase.
  • State of Wyoming's biggest Q2 2025 reduction was iShares MSCI EAFE ETF, cutting an estimated $11M.
  • State of Wyoming fully exited JBT Marel in Q2 2025, selling an estimated $1.75M.
  • State of Wyoming's ten largest holdings make up 33% of its $818M portfolio in Q2 2025.
  • State of Wyoming opened 539 new positions and closed 331 in Q2 2025.
  • State of Wyoming's portfolio value rose 8.5% quarter-over-quarter to $818M.

Based on State of Wyoming's 13F filing for Q2 2025, filed 19 Aug 2025.