The State of Wisconsin Funding Board held shares of three exchange-traded funds from Cathie Wooden’s ARK Funding Administration, in keeping with a report for the quarter ended June 30, yet one more than proven in a report for the prior quarter.

Shares of the ARK Subsequent Technology Web ETF, which didn’t seem in SWIB’s 13F holdings report for the quarter ended March 31, ranked amongst holdings listed in its 13F report for the quarter ended June 30, which was filed with the Securities and Alternate Fee Monday.

SWIB held 358,400 shares of the ARK Subsequent Technology Web ETF valued at $17.6 million. The submitting additionally indicated that SWIB continued to carry shares of each the ARK Innovation ETF and the ARK Genomic Revolution ETF. Collectively, the greenback worth of the shares of the three ARK ETFs SWIB held as of June 30 totaled just below $109 million.

SWIB has $160 billion in belongings, together with the $140.9 billion Wisconsin Retirement System.

“These ETFs are finest utilized with a very long time horizon as a result of they’re attempting to put money into corporations that may profit from long-term disruptive developments,” mentioned Todd Rosenbluth, head of analysis at VettaFi, a knowledge and analytics supplier, including that the three ETFs seemed to be “extraordinarily small” slices of SWIB’s total portfolio.

“And if these ETFs are small slices of the portfolio, then endurance may be warranted, they usually can take extra time to let the disruptive expertise thesis play out,” Mr. Rosenbluth mentioned, including that SWIB’s adoption of the ARK ETFs means that it’s “more and more assured within the disruptive expertise theme, and assured in administration’s means to establish winners.”