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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
+22.37%
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
$11.4B
AUM Growth
+$2.34B
Cap. Flow
+$480M
Cap. Flow %
4.21%
Top 10 Hldgs %
24.68%
Holding
969
New
26
Increased
830
Reduced
54
Closed
38

Top Buys

Rank Stock Value
1
LQD icon
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
+$178M
2
AGG icon
iShares Core US Aggregate Bond ETF
AGG
+$152M
3
CVS icon
CVS Health
CVS
+$102M
4
RTX icon
RTX Corp
RTX
+$61.1M
5
ETRN
Equitrans Midstream Corporation Common Stock
ETRN
+$51M

Top Sells

Rank Stock Value
1
AGNC icon
AGNC Investment
AGNC
+$197M
2
EXC icon
Exelon
EXC
+$92.1M
3
META icon
Meta Platforms (Facebook)
META
+$85.5M
4
GIS icon
General Mills
GIS
+$45.5M
5
RTN
Raytheon Company
RTN
+$39.1M

Sector Composition

Rank Sector Weight
1 Technology 22.75%
2 Healthcare 13.43%
3 Financials 13.35%
4 Consumer Discretionary 8.62%
5 Communication Services 8.42%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HPQ icon
251
HP
HPQ
$27.5B
$6.37M 0.06%
365,251
+25,526
+8% +$406K
PEG icon
252
Public Service Enterprise Group
PEG
$37.7B
$6.35M 0.06%
129,157
+13,235
+11% +$660K
ALXN
253
DELISTED
Alexion Pharmaceuticals
ALXN
$6.33M 0.06%
56,361
-210,317
-79% -$22.3M
ROK icon
254
Rockwell Automation
ROK
$49B
$6.31M 0.06%
29,629
+3,139
+12% +$607K
ZBH icon
255
Zimmer Biomet
ZBH
$18.4B
$6.31M 0.06%
54,419
+5,862
+12% +$675K
FAST icon
256
Fastenal
FAST
$59.5B
$6.27M 0.05%
292,544
+29,600
+11% +$566K
MPC icon
257
Marathon Petroleum
MPC
$83.7B
$6.21M 0.05%
166,074
+17,258
+12% +$555K
PAYX icon
258
Paychex
PAYX
$42.7B
$6.18M 0.05%
81,544
+8,533
+12% +$591K
PRU icon
259
Prudential Financial
PRU
$41.8B
$6.15M 0.05%
100,921
+8,789
+10% +$516K
ED icon
260
Consolidated Edison
ED
$39.9B
$6.14M 0.05%
85,355
+9,127
+12% +$701K
VLO icon
261
Valero Energy
VLO
$85.9B
$6.13M 0.05%
104,159
+10,083
+11% +$602K
XLNX
262
DELISTED
Xilinx Inc
XLNX
$6.11M 0.05%
62,137
+4,566
+8% +$405K
MSI icon
263
Motorola Solutions
MSI
$77.4B
$6.09M 0.05%
43,431
+4,208
+11% +$596K
F icon
264
Ford
F
$55.7B
$6.07M 0.05%
997,653
+104,963
+12% +$581K
PH icon
265
Parker-Hannifin
PH
$135B
$6.02M 0.05%
32,828
+3,333
+11% +$538K
EARN
266
Ellington Residential Mortgage REIT
EARN
$165M
$5.97M 0.05%
580,000
– –
TWTR
267
DELISTED
Twitter, Inc.
TWTR
$5.97M 0.05%
200,394
+22,394
+13% +$675K
AWK icon
268
American Water Works
AWK
$26.9B
$5.95M 0.05%
46,232
+4,804
+12% +$598K
OTIS icon
269
Otis Worldwide
OTIS
$28.2B
$5.91M 0.05%
+103,971
New +$5.39M
WMB icon
270
Williams Companies
WMB
$86.1B
$5.89M 0.05%
309,851
+32,065
+12% +$597K
MAR icon
271
Marriott International
MAR
$92.3B
$5.89M 0.05%
68,710
+6,458
+10% +$561K
BALL icon
272
Ball Corp
BALL
$16.8B
$5.79M 0.05%
83,281
+8,229
+11% +$556K
CTAS icon
273
Cintas
CTAS
$81.3B
$5.73M 0.05%
86,084
+9,416
+12% +$545K
STT icon
274
State Street
STT
$50.7B
$5.71M 0.05%
89,867
+6,510
+8% +$393K
TDG icon
275
TransDigm Group
TDG
$67.7B
$5.69M 0.05%
12,876
-78,228
-86% -$29.6M
9 10
11
12 13

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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)
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CAM
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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 2020 Portfolio in Review

As of Q2 2020, State of Michigan Retirement System held 969 positions worth $11.4B, up 26% from $9.07B the previous quarter. Its ten largest holdings account for 25% of the portfolio.

State of Michigan Retirement System deployed $480M of net new capital in Q2 2020, opening 26 new positions and adding to 830 existing holdings. Its largest new stake was iShares iBoxx $ Investment Grade Corporate Bond ETF: 1,366,000 shares worth $184M.

By sector, the portfolio is most concentrated in Technology at 23% of assets, up from 20% a quarter earlier, followed by Healthcare and Financials.

On the sell side, the largest reduction was AGNC Investment, an estimated $197M trimmed.

  • State of Michigan Retirement System's largest Q2 2020 buy was iShares iBoxx $ Investment Grade Corporate Bond ETF: 1,366,000 shares worth $184M.
  • State of Michigan Retirement System added most to iShares Core US Aggregate Bond ETF in Q2 2020, an estimated $152M increase.
  • State of Michigan Retirement System's biggest Q2 2020 reduction was AGNC Investment, cutting an estimated $197M.
  • State of Michigan Retirement System fully exited Raytheon Company in Q2 2020, selling an estimated $39.1M.
  • State of Michigan Retirement System's ten largest holdings make up 25% of its $11.4B portfolio in Q2 2020.
  • State of Michigan Retirement System opened 26 new positions and closed 38 in Q2 2020.
  • State of Michigan Retirement System's portfolio value rose 26% quarter-over-quarter to $11.4B.

Based on State of Michigan Retirement System's 13F filing for Q2 2020, filed 29 Jul 2020.