SO
State of Wyoming Quarterly 13F Portfolio Update (Q2 2026)
State of WyomingCIK: 0001821626
Diversified strategyMomentum followerHigh-turnover trader
Total reported value
$989.1M
Reporting period: 2026-06-30 · Number of holdings: 1872
State of Wyoming disclosed 1872 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $989.1M and a quarterly turnover rate of 63.5%.
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Personality snowflake
- Concentration
- 16.99
- Portfolio Stability
- 63.52
- Momentum
- 98.37
- Sector conviction
- 49.37
- Diversification
- 100
- Sizing Uniformity
- 11.37
State of Wyoming's disclosed holdings carry a Herfindahl concentration index of 0.042 — mathematically equivalent to about 24 equally-sized positions, well below its 1872 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 8.86), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 47% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govSold out IESC
Add MSFT
+129.1% $6.4M
Trim AAPL
-26.0% -$2.6M
Add MU
+278.0% $4.0M
Add INCY
+5041.1% $4.0M
Add MRVL
+139.1% $3.9M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
Showing top 200 holdings (of 1872 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 20.03% | -0.35% | +0.34% | |
| 2 | EFA | Ishares Msci Eafe ETF | ETF-Other | 2.23% | -0.22% | +0.02% | |
| 3 | NVDA | Nvidia CORP | Stock-Tech | 2.06% | -0.13% | -4.12% | |
| 4 | AAPL | Apple Inc | Stock-Tech | 1.43% | -0.55% | -26.03% | |
| 5 | MSFT | Microsoft CORP | Stock-Tech | 1.15% | +0.57% | +129.07% | |
| 6 | EMXC | Ishares Msci Emr Mrk Ex Chna | ETF-Other | 1.05% | +0.11% | +0.86% | |
| 7 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 1.02% | — | -5.67% | |
| 8 | EWT | Ishares Msci Taiwan ETF | ETF-Other | 1.00% | +0.10% | -14.23% | |
| 9 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 0.66% | +0.02% | -2.10% | |
| 10 | MRVL | Marvell Technology Inc | Stock-Tech | 0.46% | +0.39% | +139.06% | |
| 11 | MU | Micron Technology Inc | Stock-Tech | 0.44% | +0.40% | +278.00% | |
| 12 | IBKR | Interactive Brokers Gro-cl A | Stock-Financials | 0.42% | +0.03% | -2.20% | |
| 13 | META | Meta Platforms Inc-class A | Stock-Comm Services | 0.41% | +0.02% | +25.45% | |
| 14 | INCY | Incyte CORP | Stock-Healthcare | 0.41% | +0.40% | +5041.10% | |
| 15 | TSEM | Tower Semiconductor Ltd. | Stock-Tech | 0.41% | +0.20% | +51.83% | |
| 16 | EEM | Ishares Msci Emerging Market | ETF-Emerging Markets | 0.40% | -0.05% | -11.93% | |
| 17 | INDA | Ishares Msci India ETF | ETF-Other | 0.40% | -0.09% | -9.30% | |
| 18 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 0.39% | -0.04% | -5.99% | |
| 19 | AVGO | Broadcom Inc | Stock-Tech | 0.39% | -0.07% | -18.97% | |
| 20 | ICLR | ICON Public Limited Company | Stock-Healthcare | 0.39% | +0.35% | +621.22% | |
| 21 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 0.39% | -0.02% | -21.19% | |
| 22 | COHR | Coherent CORP | Stock-Tech | 0.35% | +0.12% | +10.66% | |
| 23 | SNX | TD Synnex CORP | Stock-Tech | 0.34% | +0.26% | +229.95% | |
| 24 | ECHO | Echostar Corp-a | Stock-Comm Services | 0.34% | -0.11% | +3.50% | |
| 25 | ALLY | Ally Financial Inc | Stock-Financials | 0.32% | +0.04% | +16.48% | |
| 26 | LSCC | Lattice Semiconductor CORP | Stock-Tech | 0.32% | +0.30% | +1129.93% | |
| 27 | AMD | Advanced Micro Devices | Stock-Tech | 0.32% | +0.25% | +87.86% | |
| 28 | EWC | Ishares Msci Canada ETF | ETF-Other | 0.31% | -0.03% | +1.12% | |
| 29 | IWM | Ishares Russell 2000 ETF | ETF-Small Cap | 0.29% | +0.08% | +31.27% | |
| 30 | SIMO | Silicon Motion Technol-adr | Stock-Other | 0.27% | +0.19% | +27.80% | |
| 31 | ONC | Beone Medicines Ltd-adr | Stock-Other | 0.25% | +0.25% | NEW | |
| 32 | TD | Toronto-dominion Bank | Stock-Financials | 0.25% | — | -10.45% | |
| 33 | DAL | Delta Air Lines Inc | Stock-Industrials | 0.25% | +0.11% | +50.54% | |
| 34 | MELI | Mercadolibre Inc | Stock-Consumer Disc | 0.25% | +0.15% | +181.89% | |
| 35 | GTX | Garrett Motion Inc | Stock-Consumer Disc | 0.25% | +0.12% | +11.11% | |
| 36 | MHK | Mohawk Industries Inc | Stock-Consumer Disc | 0.23% | +0.18% | +373.79% | |
| 37 | ALGM | Allegro Microsystems Inc | Stock-Other | 0.23% | +0.18% | +133.26% | |
| 38 | PRI | Primerica Inc | Stock-Financials | 0.23% | +0.19% | +560.45% | |
| 39 | AER | AerCap Holdings N.V. | Stock-Industrials | 0.22% | +0.06% | +51.00% | |
| 40 | TLN | Talen Energy CORP | Stock-Utilities | 0.22% | +0.09% | +65.35% | |
| 41 | MKSI | Mks Inc | Stock-Tech | 0.21% | +0.11% | +29.40% | |
| 42 | TSLA | Tesla Inc | Stock-Consumer Disc | 0.20% | -0.02% | -6.28% | |
| 43 | UPWK | Upwork Inc | Stock-Other | 0.20% | -0.01% | +44.33% | |
| 44 | DAVE | Dave Inc | Stock-Other | 0.20% | +0.16% | +138.56% | |
| 45 | XOM | Exxon Mobil CORP | Stock-Energy | 0.19% | -0.04% | +23.08% | |
| 46 | OMF | Onemain Holdings Inc | Stock-Financials | 0.19% | +0.13% | +200.28% | |
| 47 | ACWX | Ishares Msci Acwi Ex US ETF | ETF-Other | 0.19% | +0.12% | +177.33% | |
| 48 | RMBS | Rambus Inc | Stock-Tech | 0.18% | +0.17% | +1992.69% | |
| 49 | TTC | Toro Co | Stock-Industrials | 0.18% | +0.13% | +299.57% | |
| 50 | KRYS | Krystal Biotech Inc | Stock-Healthcare | 0.18% | +0.18% | NEW |
1–50 of 200
Portfolio Performance
Performance for Q3 2026
+3.1%
Performance Last 4 Quarters
+27.1%
- Stdev
- +14.5%
- Beta
- +1.04
- Alpha
- -2%
- Max Drawdown
- -9.4%
- Annualized Perf
- +19.4%
- Batting Avg vs S&P
- +44.4%
- Sortino
- +2.55
- Stutzer
- +0.38
- Treynor
- +0.18
- Sterling
- +1.15
- Calmar
- +2.06
- Information Ratio
- -0.21
- Tracking Error
- +5.4%
- Stdev Down
- +7.4%
- Winning Months %
- +66.7%
- Losing Months %
- +33.3%
- Best 12 Months
- +35.9%
- Worst 12 Months
- +2.3%
- Efficiency Ratio
- +0.54
- Sharpe
- +1.3
- Stdev Sectors
- +8.2%
- Skewness
- +0.03
- Kurtosis
- -0.43
- Upside Potential
- +4.23
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 1872 | $989.1M | 64 | ||
| 2026 Q1 | 1783 | $843.7M | 47 | ||
| 2025 Q4 | 1783 | $913.0M | 45 | ||
| 2025 Q3 | 1816 | $877.3M | 66 | ||
| 2025 Q2 | 1829 | $818.4M | 0 | ||
| 2025 Q1 | 1621 | $754.3M | 0 | ||
| 2024 Q4 | 1588 | $783.9M | 0 | ||
| 2024 Q3 | 1668 | $700.7M | 0 | ||
| 2024 Q2 | 1641 | $607.5M | 0 | ||
| 2024 Q1 | 1600 | $600.7M | 0 | ||
| 2023 Q4 | 1596 | $536.9M | 0 | ||
| 2023 Q3 | 1588 | $464.4M | 0 | ||
| 2023 Q2 | 1540 | $342.3M | 0 | ||
| 2023 Q1 | 1569 | $311.9M | 0 | ||
| 2022 Q4 | 1545 | $300.6M | 0 | ||
| 2022 Q3 | 1535 | $202.6M | 0 | ||
| 2022 Q2 | 1865 | $161.5M | 0 | ||
| 2022 Q1 | 1812 | $199.0M | 0 | ||
| 2021 Q4 | 1883 | $215.0M | 0 | ||
| 2021 Q3 | 1036 | $136.0M | 0 | ||
| 2021 Q2 | 1001 | $139.4M | 0 | ||
| 2021 Q1 | 569 | $61.0M | 0 |
Holding changes this quarter
State of Wyoming's most significant position changes for 2026-06-30: Sold out: Ies Holdings Inc (IESC); New buy: Beone Medicines Ltd-adr (ONC); Sold out: Solstice Adv Materials Inc (SOLS); New buy: Krystal Biotech Inc (KRYS); New buy: Revolution Medicines Inc (RVMD).
Showing top 200 changes by size (of 2322 total)
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | MSFT | Microsoft CORP | +0.6% | +129.07% | Add |
| 2 | MU | Micron Technology Inc | +0.4% | +278.00% | Add |
| 3 | INCY | Incyte CORP | +0.4% | +5041.10% | Add |
| 4 | MRVL | Marvell Technology Inc | +0.4% | +139.06% | Add |
| 5 | ICLR | ICON Public Limited Company | +0.4% | +621.22% | Add |
| 6 | LSCC | Lattice Semiconductor CORP | +0.3% | +1129.93% | Add |
| 7 | SNX | TD Synnex CORP | +0.3% | +229.95% | Add |
| 8 | AMD | Advanced Micro Devices | +0.3% | +87.86% | Add |
| 9 | ONC | Beone Medicines Ltd-adr | +0.3% | NEW | New buy |
| 10 | TSEM | Tower Semiconductor Ltd. | +0.2% | +51.83% | Add |
| 11 | SIMO | Silicon Motion Technol-adr | +0.2% | +27.80% | Add |
| 12 | PRI | Primerica Inc | +0.2% | +560.45% | Add |
| 13 | MHK | Mohawk Industries Inc | +0.2% | +373.79% | Add |
| 14 | ALGM | Allegro Microsystems Inc | +0.2% | +133.26% | Add |
| 15 | KRYS | Krystal Biotech Inc | +0.2% | NEW | New buy |
| 16 | RVMD | Revolution Medicines Inc | +0.2% | NEW | New buy |
| 17 | ELV | Elevance Health Inc | +0.2% | NEW | New buy |
| 18 | RMBS | Rambus Inc | +0.2% | +1992.69% | Add |
| 19 | LION | Lionsgate Studios CORP | +0.2% | +662.97% | Add |
| 20 | DAVE | Dave Inc | +0.2% | +138.56% | Add |
| 21 | MELI | Mercadolibre Inc | +0.2% | +181.89% | Add |
| 22 | PRMB | Primo Brands CORP | +0.2% | +1228.73% | Add |
| 23 | SLM | Slm CORP | +0.1% | NEW | New buy |
| 24 | SSD | Simpson Manufacturing Co Inc | +0.1% | +671.68% | Add |
| 25 | KYMR | Kymera Therapeutics Inc | +0.1% | NEW | New buy |
| 26 | TTC | Toro Co | +0.1% | +299.57% | Add |
| 27 | WTS | Watts Water Technologies-a | +0.1% | +341.28% | Add |
| 28 | OMF | Onemain Holdings Inc | +0.1% | +200.28% | Add |
| 29 | MDGL | Madrigal Pharmaceuticals Inc | +0.1% | NEW | New buy |
| 30 | COHR | Coherent CORP | +0.1% | +10.66% | Add |
| 31 | GTX | Garrett Motion Inc | +0.1% | +11.11% | Add |
| 32 | ACWX | Ishares Msci Acwi Ex US ETF | +0.1% | +177.33% | Add |
| 33 | EMXC | Ishares Msci Emr Mrk Ex Chna | +0.1% | +0.86% | Add |
| 34 | DAL | Delta Air Lines Inc | +0.1% | +50.54% | Add |
| 35 | MKSI | Mks Inc | +0.1% | +29.40% | Add |
| 36 | GOLF | Acushnet Holdings CORP | +0.1% | +138.20% | Add |
| 37 | PRLB | Proto Labs Inc | +0.1% | +376.43% | Add |
| 38 | AN | Autonation Inc | +0.1% | NEW | New buy |
| 39 | ARLO | Arlo Technologies Inc | +0.1% | +488.98% | Add |
| 40 | VSXY | Victoria's Secret & Co | +0.1% | +67.98% | Add |
| 41 | SPT | Sprout Social Inc - Class A | +0.1% | NEW | New buy |
| 42 | ASTS | Ast Spacemobile Inc | +0.1% | NEW | New buy |
| 43 | EWT | Ishares Msci Taiwan ETF | +0.1% | -14.23% | Trim |
| 44 | IPGP | Ipg Photonics CORP | +0.1% | NEW | New buy |
| 45 | LSTR | Landstar System Inc | +0.1% | +284.59% | Add |
| 46 | UCTT | Ultra Clean Holdings Inc | +0.1% | +418.70% | Add |
| 47 | FTK | Flotek Industries Inc | +0.1% | NEW | New buy |
| 48 | CVLT | Commvault Systems Inc | +0.1% | +1268.21% | Add |
| 49 | PK | Park Hotels & Resorts Inc | +0.1% | +312.90% | Add |
| 50 | AMBQ | Ambiq Micro Inc | +0.1% | NEW | New buy |
1–50 of 200
Filing History
FAQ
What is State of Wyoming and what type of investor is it?
State of Wyoming is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $989.1M, spread across 1872 disclosed positions.
What are State of Wyoming's largest equity positions?
Based on the latest 13F filing, State of Wyoming's top holdings by market value are:
1. Ss Spdr S&p 500 ETF Trust-us (SPY) — $198.1M (20.0%)
2. Ishares Msci Eafe ETF (EFA) — $22.1M (2.2%)
3. Nvidia CORP (NVDA) — $20.4M (2.1%)
4. Apple Inc (AAPL) — $14.1M (1.4%)
5. Microsoft CORP (MSFT) — $11.3M (1.1%)
What changes did State of Wyoming make in its most recent portfolio filing?
In the latest reported quarter, State of Wyoming made 200 notable position adjustments: 38 new positions were initiated, 97 existing holdings were added to, 40 positions were partially reduced, and 25 were completely exited. The largest of these moves: Sold out: Ies Holdings Inc (IESC); New buy: Beone Medicines Ltd-adr (ONC); Sold out: Solstice Adv Materials Inc (SOLS); New buy: Krystal Biotech Inc (KRYS); New buy: Revolution Medicines Inc (RVMD)
What sectors does State of Wyoming focus on?
State of Wyoming is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 31.1%
• Industrials: 15.0%
• Financials: 11.9%
• Consumer Discretionary: 10.6%
• Health Care: 9.9%
• Communication Services: 7.5%
Investment Profile
State of Wyoming returned an annualized 19.4% over the trailing 36 months — underperforming the S&P 500 by 2.0 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.04 (roughly in line with the market) and a 44% quarterly batting average against the index.
Its portfolio is broadly diversified and fast-trading, with 31.1% of the portfolio concentrated in Information Technology.
Its turnover score has risen from 0 to 64 over the past 4 quarters — a shift toward more active trading.
It has added to its MRVL position over the past two quarters (+$4.2M, now $4.5M), while trimming SPOT over the same stretch (-$2.7M, still holding $604.2K).
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