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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
-3.04%
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
$17.3B
AUM Growth
-$1.9B
Cap. Flow
-$1.06B
Cap. Flow %
-6.11%
Top 10 Hldgs %
32.47%
Holding
963
New
12
Increased
395
Reduced
310
Closed
19

Top Buys

Rank Stock Value
1
JPM icon
JPMorgan Chase
JPM
+$35M
2
AVGO icon
Broadcom
AVGO
+$34.7M
3
VRT icon
Vertiv
VRT
+$18.2M
4
XYZ
Block Inc
XYZ
+$17.4M
5
DASH icon
DoorDash
DASH
+$17.3M

Top Sells

Rank Stock Value
1
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$585M
2
CVS icon
CVS Health
CVS
+$190M
3
T icon
AT&T
T
+$153M
4
IJH icon
iShares Core S&P Mid-Cap ETF
IJH
+$43M
5
MSFT icon
Microsoft
MSFT
+$36.3M

Sector Composition

Rank Sector Weight
1 Technology 28.36%
2 Financials 12.46%
3 Healthcare 10.12%
4 Consumer Discretionary 9.98%
5 Communication Services 9.07%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TGT icon
226
Target
TGT
$69B
$13M 0.07%
124,322
-700
-0.6% -$87.5K
FAST icon
227
Fastenal
FAST
$59.8B
$12.9M 0.07%
332,956
+200
+0.1% +$7.5K
CMI icon
228
Cummins
CMI
$87.4B
$12.9M 0.07%
41,037
+100
+0.2% +$35.2K
VLO icon
229
Valero Energy
VLO
$90.7B
$12.9M 0.07%
97,362
-100
-0.1% -$13.3K
GWW icon
230
W.W. Grainger
GWW
$61.1B
$12.9M 0.07%
13,017
– –
KMB icon
231
Kimberly-Clark
KMB
$35.9B
$12.8M 0.07%
90,016
-500
-0.6% -$67.4K
CTSH icon
232
Cognizant
CTSH
$26.3B
$12.7M 0.07%
166,023
-400
-0.2% -$32.6K
HDB icon
233
HDFC Bank
HDB
$120B
$12.6M 0.07%
380,000
– –
EXC icon
234
Exelon
EXC
$45.8B
$12.6M 0.07%
272,703
– –
MPC icon
235
Marathon Petroleum
MPC
$90B
$12.5M 0.07%
85,710
-1,500
-2% -$222K
KVUE icon
236
Kenvue
KVUE
$36.5B
$12.5M 0.07%
520,139
-200
-0% -$4.43K
DLR icon
237
Digital Realty Trust
DLR
$70.8B
$12.3M 0.07%
85,881
+1,300
+2% +$211K
CCI icon
238
Crown Castle
CCI
$31.3B
$12.3M 0.07%
117,852
-100
-0.1% -$9.34K
ICLR icon
239
Icon
ICLR
$12.8B
$12.2M 0.07%
69,670
– –
FICO icon
240
Fair Isaac
FICO
$22.7B
$12.2M 0.07%
6,600
– –
PEG icon
241
Public Service Enterprise Group
PEG
$37.2B
$12.2M 0.07%
147,866
-100
-0.1% -$8.34K
URI icon
242
United Rentals
URI
$70.8B
$12.1M 0.07%
19,354
-100
-0.5% -$68.7K
HES
243
DELISTED
Hess
HES
$12M 0.07%
74,941
-100
-0.1% -$14.7K
YUM icon
244
Yum! Brands
YUM
$39.7B
$11.9M 0.07%
75,714
– –
TRGP icon
245
Targa Resources
TRGP
$57.1B
$11.9M 0.07%
59,200
– –
BKR icon
246
Baker Hughes
BKR
$63.6B
$11.8M 0.07%
268,612
– –
VST icon
247
Vistra
VST
$48.2B
$11.8M 0.07%
100,100
– –
GLW icon
248
Corning
GLW
$136B
$11.7M 0.07%
255,959
– –
CTVA icon
249
Corteva
CTVA
$51B
$11.7M 0.07%
186,010
-500
-0.3% -$30.9K
PRU icon
250
Prudential Financial
PRU
$42.1B
$11.7M 0.07%
104,455
-600
-0.6% -$68.4K
8 9
10
11 12

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 Q1 2025 Portfolio in Review

As of Q1 2025, State of Michigan Retirement System held 963 positions worth $17.3B, down 9.9% from $19.2B the previous quarter. Its ten largest holdings account for 32% of the portfolio.

State of Michigan Retirement System withdrew a net $1.06B in Q1 2025, closing 19 positions and reducing 310 holdings. Its most notable exit was iShares Biotechnology ETF, an estimated $18.1M position sold in full.

By sector, the portfolio is most concentrated in Technology at 28% of assets, down from 30% a quarter earlier, followed by Financials and Healthcare.

Against the trend, State of Michigan Retirement System opened a new position in DoorDash worth $16.8M.

  • State of Michigan Retirement System's largest Q1 2025 buy was DoorDash: 92,000 shares worth $16.8M.
  • State of Michigan Retirement System added most to JPMorgan Chase in Q1 2025, an estimated $35M increase.
  • State of Michigan Retirement System's biggest Q1 2025 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $585M.
  • State of Michigan Retirement System fully exited iShares Biotechnology ETF in Q1 2025, selling an estimated $18.1M.
  • State of Michigan Retirement System's ten largest holdings make up 32% of its $17.3B portfolio in Q1 2025.
  • State of Michigan Retirement System opened 12 new positions and closed 19 in Q1 2025.
  • State of Michigan Retirement System's portfolio value fell 9.9% quarter-over-quarter to $17.3B.

Based on State of Michigan Retirement System's 13F filing for Q1 2025, filed 30 Apr 2025.