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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
WBD icon
226
Warner Bros
WBD
$64.7B
$16.9M 0.07%
634,541
-12,900
-2% -$349K
GWW icon
227
W.W. Grainger
GWW
$61.4B
$16.9M 0.07%
12,417
-200
-2% -$246K
APD icon
228
Air Products & Chemicals
APD
$65.6B
$16.7M 0.07%
57,021
-1,100
-2% -$320K
CTAS icon
229
Cintas
CTAS
$81.5B
$16.5M 0.07%
97,172
-200
-0.2% -$34.6K
D icon
230
Dominion Energy
D
$60.9B
$16.4M 0.07%
240,367
– –
ODFL icon
231
Old Dominion Freight Line
ODFL
$45.6B
$16.4M 0.07%
75,688
-500
-0.7% -$108K
KKR icon
232
KKR & Co
KKR
$97.2B
$16.2M 0.07%
177,000
-2,300
-1% -$223K
BSX icon
233
Boston Scientific
BSX
$71.1B
$16.2M 0.07%
380,608
-6,800
-2% -$369K
IDXX icon
234
Idexx Laboratories
IDXX
$46.4B
$16.2M 0.07%
30,855
-500
-2% -$280K
ZM icon
235
Zoom
ZM
$29.9B
$16.1M 0.07%
187,066
-2,800
-1% -$265K
BABA icon
236
Alibaba
BABA
$309B
$16M 0.07%
167,200
-56,700
-25% -$7.1M
KMI icon
237
Kinder Morgan
KMI
$69.9B
$16M 0.07%
501,345
-10,100
-2% -$326K
REGN icon
238
Regeneron Pharmaceuticals
REGN
$78.3B
$16M 0.07%
25,621
-700
-3% -$476K
O icon
239
Realty Income
O
$58.7B
$15.9M 0.07%
257,348
-900
-0.3% -$56.1K
LHX icon
240
L3Harris
LHX
$53.1B
$15.9M 0.07%
54,730
-100
-0.2% -$31.8K
FAST icon
241
Fastenal
FAST
$57B
$15.8M 0.07%
328,356
+800
+0.2% +$36.3K
ALL icon
242
Allstate
ALL
$67.6B
$15.7M 0.07%
65,889
-2,000
-3% -$435K
SRE icon
243
Sempra
SRE
$56.6B
$15.5M 0.07%
167,420
-3,100
-2% -$288K
HCA icon
244
HCA Healthcare
HCA
$86.8B
$15.5M 0.07%
39,809
-1,100
-3% -$465K
KEYS icon
245
Keysight
KEYS
$58.3B
$15.4M 0.07%
43,931
-900
-2% -$307K
HDB icon
246
HDFC Bank
HDB
$123B
$15.4M 0.07%
595,200
– –
ABNB icon
247
Airbnb
ABNB
$89B
$15.3M 0.07%
107,000
-3,700
-3% -$505K
DLR icon
248
Digital Realty Trust
DLR
$71.7B
$15.2M 0.07%
84,581
+200
+0.2% +$38.3K
DVN icon
249
Devon Energy
DVN
$50.8B
$15.2M 0.07%
367,012
+146,021
+66% +$6.77M
AJG icon
250
Arthur J. Gallagher & Co
AJG
$63.6B
$15.1M 0.07%
65,787
-1,300
-2% -$276K
8 9
10
11 12

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FAM
Fred Alger Management New York $22.8B AUM 64.63% 1-Year Est. Return
BA
Bridgewater Associates Westport, Connecticut $22.4B AUM 34.48% 1-Year Est. Return
Tiger Global Management
Tiger Global Management New York $22.8B AUM 30.07% 1-Year Est. Return
AM
AGF Management Toronto, Ontario, Canada $22.3B AUM 46.42% 1-Year Est. Return
Capital Fund Management (CFM)
Capital Fund Management (CFM) Paris, France $22.1B AUM 20.49% 1-Year Est. Return
CAM
Cresset Asset Management Chicago, Illinois $23.1B AUM 27.04% 1-Year Est. Return
Luther King Capital Management (LKCM)
Luther King Capital Management (LKCM) Fort Worth, Texas $23.1B AUM 21.31% 1-Year Est. Return
DSA
Davis Selected Advisers Tucson, Arizona $21.8B AUM 23.45% 1-Year Est. Return

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.