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Livermore
Livermore
ZHEN

State of Wyoming

SEC CIK
0001821626
Latest filing
Aug 6, 2026

The latest 13F from State of Wyoming covers Q2 2026 (filed Aug 6, 2026): 1,872 long positions worth $989.1M. The top 10 holdings make up 31.1% of the portfolio, and the largest is SPDR S&P 500 ETF Trust (SPY) at 20.0%. Livermore has 27 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
537
Est. +$112.4M
Added
619
Est. +$175.2M
Reduced
708
Est. −$178.1M
Sold out
448
Est. −$90.7M

Top 5 holdings

Share of this quarter's portfolio value

  1. SPYSPDR S&P 500 ETF Trust
    20.0%$198.1MHistory
  2. iShares MSCI Eafe ETF464287465
    2.2%$22.1M
  3. NVDANVIDIA Corp
    2.1%$20.4MHistory
  4. AAPLApple Inc.
    1.4%$14.1MHistory
  5. MSFTMicrosoft Corp
    1.1%$11.3MHistory

Share of portfolio

Top 5 holdings and the other 1,867 positions, by share of portfolio value

  1. SPY20.0%
  2. iShares MSCI Eafe ETF2.2%
  3. NVDA2.1%
  4. AAPL1.4%
  5. MSFT1.1%
  6. Other 1,867 positions73.1%

Biggest buys

New and added positions, by estimated amount bought

  1. MSFTMicrosoft Corp
    +$6.39MAddedHistory
  2. INCYIncyte Corp
    +$3.95MAddedHistory
  3. ICLRIcon PLC
    +$3.33MAddedHistory
  4. MUMicron Technology Inc
    +$3.18MAddedHistory
  5. LSCCLattice Semiconductor Corp
    +$2.90MAddedHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. MSFTMicrosoft Corp
    +0.56 pp0.6% → 1.1%History
  2. INCYIncyte Corp
    +0.40 pp<0.1% → 0.4%History
  3. MUMicron Technology Inc
    +0.40 pp<0.1% → 0.4%History
  4. MRVLMarvell Technology, Inc.
    +0.38 pp0.1% → 0.5%History
  5. ICLRIcon PLC
    +0.35 pp<0.1% → 0.4%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. IESCIES Holdings, Inc.
    −$8.44MSold outHistory
  2. AAPLApple Inc.
    −$4.97MReducedHistory
  3. PWRQuanta Services, Inc.
    −$4.04MReducedHistory
  4. HUMHumana Inc
    −$3.87MReducedHistory
  5. DYDycom Industries Inc
    −$2.44MReducedHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. IESCIES Holdings, Inc.
    −1.00 pp1.0% → 0.0%History
  2. AAPLApple Inc.
    −0.56 pp2.0% → 1.4%History
  3. PWRQuanta Services, Inc.
    −0.36 pp0.4% → <0.1%History
  4. CENXCentury Aluminum Co
    −0.29 pp0.3% → <0.1%History
  5. SOLSSolstice Advanced Materials Inc.
    −0.24 pp0.2% → 0.0%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$989.1M
+$145.5M (+17.2%) vs. prior quarter
Positions
1,872
+89 vs. prior quarter
Top 10 concentration
31.1%
Top 10 as share of value
Turnover
29.3%
Q2 2026, one quarter
Average holding period
12.0 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $989.1M (Q2 2026)

Q1 2021: $61.0MQ2 2021: $158.8MQ3 2021: $155.7MQ4 2021: $215.0MQ1 2022: $199.0MQ2 2022: $161.5MQ3 2022: $202.6MQ4 2022: $300.6MQ1 2023: $311.9MQ2 2023: $342.3MQ3 2023: $464.4MQ4 2023: $536.9MQ1 2024: $600.7MQ2 2024: $607.5MQ3 2024: $700.7MQ4 2024: $783.9MQ1 2025: $754.3MQ2 2025: $818.4MQ3 2025: $877.3MQ4 2025: $913.0MQ1 2026: $843.7MQ2 2026: $989.1M
Q1 2021Q2 2026
13F filings of State of Wyoming by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 6, 20261,872$989.1MSPYiShares MSCI Eafe ETFNVDAvs. Q1 2026SEC
Q1 2026May 13, 20261,783$843.7MSPYiShares MSCI Eafe ETFNVDAvs. Q4 2025SEC
Q4 2025Feb 11, 20261,783$913.0MSPYiShares MSCI Eafe ETFNVDAvs. Q3 2025SEC
Q3 2025Nov 4, 20251,816$877.3MSPYiShares MSCI Eafe ETFNVDAvs. Q2 2025SEC
Q2 2025Aug 19, 20251,829$818.4MSPYiShares MSCI Eafe ETFNVDAvs. Q1 2025SEC
Q1 2025May 14, 20251,621$754.3MSPYiShares MSCI Eafe ETFiShares Incvs. Q4 2024SEC
Q4 2024Feb 14, 20251,588$783.9MSPYiShares MSCI Eafe ETFMSFTvs. Q3 2024SEC
Q3 2024Nov 14, 20241,668$700.7MSPYiShares MSCI Eafe ETFiShares Incvs. Q2 2024SEC
Q2 2024Aug 14, 20241,641$607.5MSPYiShares MSCI Eafe ETFiShares Incvs. Q1 2024SEC
Q1 2024May 14, 20241,600$600.7MSPYiShares MSCI Eafe ETFiShares Incvs. Q4 2023SEC
Q4 2023Feb 15, 20241,596$536.9MSPYiShares MSCI Eafe ETFiShares Incvs. Q3 2023SEC
Q3 2023Nov 14, 20231,588$464.4MSPYiShares MSCI Eafe ETFiShares Incvs. Q2 2023SEC
Q2 2023Aug 14, 20231,540$342.3MVanguard Ftse All-World Ex-US Index FundSPYAAPLvs. Q1 2023SEC
Q1 2023May 15, 20231,569$311.9MVanguard Ftse All-World Ex-US Index FundSPYAAPLvs. Q4 2022SEC
Q4 2022Feb 15, 20231,545$300.6MVanguard Ftse All-World Ex-US Index FundSPYAAPLvs. Q3 2022SEC
Q3 2022Nov 14, 20221,534$202.6MVanguard Ftse All-World Ex-US Index FundiShares Russell 2000 ETFAAPLvs. Q2 2022SEC
Q2 2022Aug 15, 20221,863$161.5MMSFTAAPLSPYvs. Q1 2022SEC
Q1 2022May 13, 20221,811$199.0MMSFTAAPLAMZNvs. Q4 2021SEC
Q4 2021Feb 11, 20221,883$215.0MMSFTAAPLGOOGvs. Q3 2021SEC
Q3 2021Feb 14, 2022Amended1,248$155.7MAAPLMSFTMETAvs. Q2 2021SECSEC
Q2 2021Feb 14, 2022Amended1,195$158.8MMSFTAAPLMETAvs. Q1 2021SECSEC
Q1 2021Feb 14, 2022Amended569$61.0MiShares Russell 2000 ETFMSFTAAPL–SEC