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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
LHX icon
251
L3Harris
LHX
$54B
$11.6M 0.07%
55,630
-300
-0.5% -$62.9K
DFS
252
DELISTED
Discover Financial Services
DFS
$11.6M 0.07%
68,101
– –
MNST icon
253
Monster Beverage
MNST
$89.6B
$11.6M 0.07%
198,016
– –
ED icon
254
Consolidated Edison
ED
$39.3B
$11.5M 0.07%
104,042
-100
-0.1% -$9.81K
ROST icon
255
Ross Stores
ROST
$81.7B
$11.4M 0.07%
89,456
-600
-0.7% -$84K
CBRE icon
256
CBRE Group
CBRE
$41.7B
$11.4M 0.07%
87,338
-1,500
-2% -$204K
VRSK icon
257
Verisk Analytics
VRSK
$23.6B
$11.4M 0.07%
38,356
– –
SHOP icon
258
Shopify
SHOP
$200B
$11.2M 0.06%
117,200
-21,500
-16% -$2.34M
BROS icon
259
Dutch Bros
BROS
$8.96B
$11.1M 0.06%
180,000
– –
OTIS icon
260
Otis Worldwide
OTIS
$27.7B
$11.1M 0.06%
107,607
-800
-0.7% -$78.2K
PCG icon
261
PG&E
PCG
$37.5B
$11.1M 0.06%
645,660
+1,700
+0.3% +$28.2K
KDP icon
262
Keurig Dr Pepper
KDP
$39.9B
$11.1M 0.06%
323,900
+18,300
+6% +$594K
XEL icon
263
Xcel Energy
XEL
$48B
$11M 0.06%
155,794
-100
-0.1% -$6.81K
AME icon
264
Ametek
AME
$58B
$10.8M 0.06%
62,753
– –
FIS icon
265
Fidelity National Information Services
FIS
$21.9B
$10.7M 0.06%
143,703
-2,400
-2% -$180K
GRMN
266
Garmin
GRMN
$60.4B
$10.6M 0.06%
48,597
-100
-0.2% -$21.6K
AXON
267
Axon Enterprise
AXON
$48.4B
$10.4M 0.06%
19,700
– –
ACGL icon
268
Arch Capital
ACGL
$33.5B
$10.4M 0.06%
107,700
– –
LULU icon
269
lululemon athletica
LULU
$14.5B
$10.3M 0.06%
36,508
-300
-0.8% -$110K
PWR icon
270
Quanta Services
PWR
$99.4B
$10.2M 0.06%
40,048
– –
HIG icon
271
Hartford Financial Services
HIG
$38.7B
$10.2M 0.06%
82,041
-700
-0.8% -$80.3K
SYY icon
272
Sysco
SYY
$40.1B
$9.96M 0.06%
132,717
-600
-0.5% -$44K
ETR icon
273
Entergy
ETR
$49.3B
$9.94M 0.06%
116,304
-100
-0.1% -$8.23K
CNC icon
274
Centene
CNC
$32.9B
$9.86M 0.06%
162,427
-2,500
-2% -$151K
CSGP icon
275
CoStar Group
CSGP
$12.8B
$9.82M 0.06%
123,900
+3,000
+2% +$228K
9 10
11
12 13

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.