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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
+9.85%
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
$20.8B
AUM Growth
+$1.49B
Cap. Flow
-$10.1M
Cap. Flow %
-0.05%
Top 10 Hldgs %
37.6%
Holding
964
New
20
Increased
152
Reduced
703
Closed
20

Top Buys

Rank Stock Value
1
HIMS icon
Hims & Hers Health
HIMS
+$34.8M
2
APP icon
Applovin
APP
+$33.8M
3
OSCR icon
Oscar Health
OSCR
+$23.9M
4
HOOD icon
Robinhood
HOOD
+$22.8M
5
KR icon
Kroger
KR
+$20.7M

Top Sells

Rank Stock Value
1
BIIB icon
Biogen
BIIB
+$33.5M
2
GEHC icon
GE HealthCare
GEHC
+$29.2M
3
BURL icon
Burlington
BURL
+$28.6M
4
VZ icon
Verizon
VZ
+$21.9M
5
ARM icon
Arm
ARM
+$20.7M

Sector Composition

Rank Sector Weight
1 Technology 32.79%
2 Financials 11.65%
3 Communication Services 10.3%
4 Consumer Discretionary 9.76%
5 Healthcare 8.41%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NVDA icon
1
NVIDIA
NVDA
$5.27T
$1.56B 7.5%
8,358,960
-81,200
-1% -$14.2M
MSFT icon
2
Microsoft
MSFT
$3.76T
$1.19B 5.71%
2,295,767
+36,800
+2% +$18.8M
AAPL icon
3
Apple
AAPL
$4.5T
$1.1B 5.31%
4,335,499
-47,600
-1% -$10.8M
SPY icon
4
State Street SPDR S&P 500 ETF Trust
SPY
$810B
$821M 3.94%
1,231,740
+16,500
+1% +$10.6M
AMZN icon
5
Amazon
AMZN
$3T
$676M 3.25%
3,080,920
-61,100
-2% -$13.8M
META icon
6
Meta Platforms (Facebook)
META
$1.52T
$632M 3.04%
861,014
-3,800
-0.4% -$2.83M
AVGO icon
7
Broadcom
AVGO
$2.01T
$628M 3.02%
1,905,060
-6,500
-0.3% -$1.99M
GOOGL icon
8
Alphabet (Google) Class A
GOOGL
$4.37T
$487M 2.34%
2,001,980
-9,300
-0.5% -$1.95M
GOOG icon
9
Alphabet (Google) Class C
GOOG
$4.35T
$388M 1.87%
1,595,060
-13,600
-0.8% -$2.86M
TSLA icon
10
Tesla
TSLA
$1.31T
$338M 1.62%
758,957
-3,000
-0.4% -$1.04M
MTUM icon
11
iShares MSCI USA Momentum Factor ETF
MTUM
$25.4B
$314M 1.51%
1,223,490
+17,400
+1% +$4.26M
JPM icon
12
JPMorgan Chase
JPM
$956B
$298M 1.43%
943,631
+18,000
+2% +$5.35M
LQD icon
13
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$32.6B
$242M 1.16%
2,172,400
– –
NFLX icon
14
Netflix
NFLX
$318B
$204M 0.98%
1,704,490
-8,000
-0.5% -$976K
LLY icon
15
Eli Lilly
LLY
$1.1T
$203M 0.98%
266,604
+1,100
+0.4% +$819K
V icon
16
Visa
V
$675B
$203M 0.97%
594,223
-5,800
-1% -$2.01M
BRK.B icon
17
Berkshire Hathaway Class B
BRK.B
$1.14T
$173M 0.83%
344,029
-2,500
-0.7% -$1.21M
PLTR icon
18
Palantir
PLTR
$421B
$163M 0.78%
895,100
-43,300
-5% -$7.02M
COST icon
19
Costco
COST
$423B
$162M 0.78%
174,869
-700
-0.4% -$671K
MA icon
20
Mastercard
MA
$493B
$145M 0.7%
254,781
+2,700
+1% +$1.55M
AMD icon
21
Advanced Micro Devices
AMD
$767B
$138M 0.67%
855,700
-1,900
-0.2% -$307K
HD icon
22
Home Depot
HD
$350B
$133M 0.64%
329,084
-1,200
-0.4% -$472K
XOM icon
23
ExxonMobil
XOM
$662B
$130M 0.62%
1,153,018
-18,900
-2% -$2.1M
ORCL icon
24
Oracle
ORCL
$435B
$126M 0.61%
448,232
+6,000
+1% +$1.53M
JNJ icon
25
Johnson & Johnson
JNJ
$631B
$126M 0.6%
677,967
-2,900
-0.4% -$497K
1
2 3 4 5

Similar funds

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
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
DSA
Davis Selected Advisers Tucson, Arizona $21.8B AUM 23.45% 1-Year Est. Return
CHP
Castle Hook Partners New York $23.4B AUM 158.96% 1-Year Est. Return
IC
IEQ Capital Foster City, California $21.5B AUM 75.26% 1-Year Est. Return

State of Michigan Retirement System's Q3 2025 Portfolio in Review

As of Q3 2025, State of Michigan Retirement System held 964 positions worth $20.8B, up 7.7% from $19.3B the previous quarter. Its ten largest holdings account for 38% of the portfolio.

Trading was light in Q3 2025: portfolio turnover was 4.1%. State of Michigan Retirement System opened 20 new positions and exited 20, leaving the 964-position portfolio largely intact.

By sector, the portfolio is most concentrated in Technology at 33% of assets, up from 31% a quarter earlier, followed by Financials and Communication Services.

  • State of Michigan Retirement System's largest Q3 2025 buy was Oscar Health: 1,450,000 shares worth $27.4M.
  • State of Michigan Retirement System added most to Hims & Hers Health in Q3 2025, an estimated $34.8M increase.
  • State of Michigan Retirement System's biggest Q3 2025 reduction was Biogen, cutting an estimated $33.5M.
  • State of Michigan Retirement System fully exited Arm in Q3 2025, selling an estimated $20.7M.
  • State of Michigan Retirement System's ten largest holdings make up 38% of its $20.8B portfolio in Q3 2025.
  • State of Michigan Retirement System opened 20 new positions and closed 20 in Q3 2025.
  • State of Michigan Retirement System's portfolio value rose 7.7% quarter-over-quarter to $20.8B.

Based on State of Michigan Retirement System's 13F filing for Q3 2025, filed 5 Nov 2025.