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SOMRS

State of Michigan Retirement System Portfolio holdings

AUM $22.6B
1-Year Est. Return 40.24%
This Fund
S&P 500
This Quarter Est. Return
+26.19%
1 Year Est. Return
+40.24%
3 Year Est. Return
+127.54%
5 Year Est. Return
+152.65%
10 Year Est. Return
+534.6%
AUM
$22.6B
AUM Growth
+$3.66B
Cap. Flow
+$818M
Cap. Flow %
3.62%
Top 10 Hldgs %
30.97%
Holding
975
New
34
Increased
149
Reduced
743
Closed
15

Top Buys

Rank Stock Value
1
HUBS icon
HubSpot
HUBS
+$226M
2
ADBE icon
Adobe
ADBE
+$125M
3
CHTR icon
Charter Communications
CHTR
+$107M
4
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$98.8M
5
LQD icon
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
+$98.1M

Top Sells

Rank Stock Value
1
TDG icon
TransDigm Group
TDG
+$75.5M
2
XLV icon
State Street Health Care Select Sector SPDR ETF
XLV
+$59.3M
3
META icon
Meta Platforms (Facebook)
META
+$53.4M
4
CI icon
Cigna
CI
+$42M
5
INTC icon
Intel
INTC
+$34.1M

Sector Composition

Rank Sector Weight
1 Technology 36.61%
2 Financials 10.43%
3 Communication Services 9.47%
4 Healthcare 8.27%
5 Consumer Discretionary 8.06%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NVDA icon
1
NVIDIA
NVDA
$5.25T
$1.43B 6.33%
7,144,304
-100,156
-1% -$20.6M
AAPL icon
2
Apple
AAPL
$4.67T
$1.11B 4.91%
3,830,399
-70,100
-2% -$20.1M
MSFT icon
3
Microsoft
MSFT
$3.81T
$756M 3.35%
2,026,202
-31,665
-2% -$12.8M
AMZN icon
4
Amazon
AMZN
$2.87T
$631M 2.79%
2,647,879
-55,241
-2% -$13.9M
AVGO icon
5
Broadcom
AVGO
$1.75T
$617M 2.73%
1,634,642
-54,418
-3% -$21.8M
GOOGL icon
6
Alphabet (Google) Class A
GOOGL
$4.24T
$564M 2.5%
1,578,570
-17,810
-1% -$6.41M
GOOG icon
7
Alphabet (Google) Class C
GOOG
$4.19T
$552M 2.44%
1,560,960
-12,300
-0.8% -$4.4M
AMD icon
8
Advanced Micro Devices
AMD
$760B
$459M 2.03%
790,453
+172,753
+28% +$70.8M
MTUM icon
9
iShares MSCI USA Momentum Factor ETF
MTUM
$24.4B
$446M 1.98%
1,301,990
-38,100
-3% -$11.4M
MU icon
10
Micron Technology
MU
$1.05T
$432M 1.91%
374,042
+6,700
+2% +$5.02M
META icon
11
Meta Platforms (Facebook)
META
$1.47T
$429M 1.9%
762,054
-87,360
-10% -$53.4M
LQD icon
12
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$32.9B
$335M 1.48%
3,072,400
+900,000
+41% +$98.1M
SPY icon
13
State Street SPDR S&P 500 ETF Trust
SPY
$825B
$304M 1.35%
407,152
+136,212
+50% +$98.8M
TSLA icon
14
Tesla
TSLA
$1.38T
$303M 1.34%
720,857
-13,800
-2% -$5.49M
ADBE icon
15
Adobe
ADBE
$116B
$277M 1.22%
1,349,261
+528,438
+64% +$125M
LLY icon
16
Eli Lilly
LLY
$1.05T
$255M 1.13%
212,904
-2,900
-1% -$2.96M
JPM icon
17
JPMorgan Chase
JPM
$951B
$225M 0.99%
686,031
-18,300
-3% -$5.68M
HUBS icon
18
HubSpot
HUBS
$13B
$217M 0.96%
1,188,887
+1,082,487
+1,017% +$226M
INTC icon
19
Intel
INTC
$473B
$169M 0.75%
1,209,653
-337,330
-22% -$34.1M
BRK.B icon
20
Berkshire Hathaway Class B
BRK.B
$1.08T
$165M 0.73%
329,329
-10,300
-3% -$4.95M
JNJ icon
21
Johnson & Johnson
JNJ
$646B
$163M 0.72%
642,467
-10,700
-2% -$2.49M
KR icon
22
Kroger
KR
$35.4B
$163M 0.72%
2,929,710
+644,623
+28% +$42.1M
AMAT icon
23
Applied Materials
AMAT
$366B
$161M 0.71%
223,051
-32,004
-13% -$14.8M
LRCX icon
24
Lam Research
LRCX
$378B
$155M 0.69%
358,800
-2,800
-0.8% -$850K
V icon
25
Visa
V
$712B
$155M 0.69%
453,023
-12,600
-3% -$4.05M
1
2 3 4 5

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GT
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EIM
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CIG
Capricorn Investment Group Palo Alto, California $22.5B AUM 50.37% 1-Year Est. Return
Capital Fund Management (CFM)
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CB
Commerce Bank Kansas City, Missouri $22.8B AUM 28.56% 1-Year Est. Return
BBHC
Brown Brothers Harriman & Co New York $22.8B AUM 25.09% 1-Year Est. Return
LF
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CI
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State of Michigan Retirement System's Q2 2026 Portfolio in Review

As of Q2 2026, State of Michigan Retirement System held 975 positions worth $22.6B, up 19% from $18.9B the previous quarter. Its ten largest holdings account for 31% of the portfolio.

State of Michigan Retirement System deployed $818M of net new capital in Q2 2026, opening 34 new positions and adding to 149 existing holdings. Its largest new stake was iShares Securitized Income Active ETF: 1,900,000 shares worth $94.7M.

By sector, the portfolio is most concentrated in Technology at 37% of assets, up from 32% a quarter earlier, followed by Financials and Communication Services.

On the sell side, the largest reduction was TransDigm Group, an estimated $75.5M trimmed.

  • State of Michigan Retirement System's largest Q2 2026 buy was iShares Securitized Income Active ETF: 1,900,000 shares worth $94.7M.
  • State of Michigan Retirement System added most to HubSpot in Q2 2026, an estimated $226M increase.
  • State of Michigan Retirement System's biggest Q2 2026 reduction was TransDigm Group, cutting an estimated $75.5M.
  • State of Michigan Retirement System fully exited State Street Health Care Select Sector SPDR ETF in Q2 2026, selling an estimated $59.3M.
  • State of Michigan Retirement System's ten largest holdings make up 31% of its $22.6B portfolio in Q2 2026.
  • State of Michigan Retirement System opened 34 new positions and closed 15 in Q2 2026.
  • State of Michigan Retirement System's portfolio value rose 19% quarter-over-quarter to $22.6B.

Based on State of Michigan Retirement System's 13F filing for Q2 2026, filed 30 Jul 2026.