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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
SFM icon
726
Sprouts Farmers Market
SFM
$7.94B
$1.86M 0.01%
21,996
-1,400
-6% -$113K
ULS icon
727
UL Solutions
ULS
$15.9B
$1.85M 0.01%
18,200
-400
-2% -$37.8K
HRL icon
728
Hormel Foods
HRL
$13.9B
$1.85M 0.01%
74,675
-8,000
-10% -$178K
CAVA icon
729
CAVA Group
CAVA
$7.71B
$1.84M 0.01%
23,400
-600
-3% -$50.3K
DVA icon
730
DaVita
DVA
$12.1B
$1.84M 0.01%
8,249
-500
-6% -$90.9K
CBSH icon
731
Commerce Bancshares
CBSH
$8.58B
$1.83M 0.01%
31,752
-1,200
-4% -$63K
CART icon
732
Maplebear
CART
$10.7B
$1.82M 0.01%
38,500
-5,700
-13% -$238K
AOS icon
733
A.O. Smith
AOS
$8.59B
$1.8M 0.01%
28,633
-700
-2% -$42.4K
HQY icon
734
HealthEquity
HQY
$8.73B
$1.78M 0.01%
19,722
-800
-4% -$67.8K
CRUS icon
735
Cirrus Logic
CRUS
$6.53B
$1.77M 0.01%
11,941
-300
-2% -$49.1K
MP icon
736
MP Materials
MP
$8.53B
$1.77M 0.01%
31,600
-800
-2% -$48.7K
AM icon
737
Antero Midstream
AM
$10B
$1.77M 0.01%
77,725
-2,000
-3% -$43.4K
THG icon
738
Hanover Insurance
THG
$7.98B
$1.76M 0.01%
8,232
-300
-4% -$56.8K
HXL icon
739
Hexcel
HXL
$7.89B
$1.76M 0.01%
17,597
-700
-4% -$63.4K
REXR icon
740
Rexford Industrial Realty
REXR
$8.26B
$1.75M 0.01%
52,382
-3,000
-5% -$105K
TTEK icon
741
Tetra Tech
TTEK
$8.78B
$1.75M 0.01%
60,740
-2,000
-3% -$58.7K
NBIS
742
Nebius Group N.V.
NBIS
$55.6B
$1.75M 0.01%
+6,332
New +$1.25M
UGI icon
743
UGI
UGI
$7.62B
$1.73M 0.01%
50,158
-1,500
-3% -$53K
MOS icon
744
The Mosaic Company
MOS
$7.44B
$1.73M 0.01%
81,408
-1,500
-2% -$34.7K
PB icon
745
Prosperity Bancshares
PB
$8.94B
$1.72M 0.01%
23,597
-700
-3% -$48.7K
NFG icon
746
National Fuel Gas
NFG
$7.5B
$1.71M 0.01%
22,212
-700
-3% -$57.9K
AXTA icon
747
Axalta
AXTA
$8.15B
$1.71M 0.01%
50,100
-1,300
-3% -$39.1K
FLR icon
748
Fluor
FLR
$7.04B
$1.71M 0.01%
32,697
-6,100
-16% -$299K
BAH icon
749
Booz Allen Hamilton
BAH
$8.65B
$1.71M 0.01%
28,200
-800
-3% -$61.1K
KEX icon
750
Kirby Corp
KEX
$7.01B
$1.71M 0.01%
12,559
-500
-4% -$71.5K
28 29
30
31 32

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FAM
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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
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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.