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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
+5.02%
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
$12.4B
AUM Growth
-$886M
Cap. Flow
-$1.43B
Cap. Flow %
-11.61%
Top 10 Hldgs %
23.49%
Holding
969
New
21
Increased
50
Reduced
850
Closed
25

Top Buys

Rank Stock Value
1
AGNC icon
AGNC Investment
AGNC
+$128M
2
ALLY icon
Ally Financial
ALLY
+$52.1M
3
MCHP icon
Microchip Technology
MCHP
+$29.8M
4
DGX icon
Quest Diagnostics
DGX
+$28.6M
5
CVS icon
CVS Health
CVS
+$26.6M

Top Sells

Rank Stock Value
1
JPM icon
JPMorgan Chase
JPM
+$200M
2
AAPL icon
Apple
AAPL
+$187M
3
WTW icon
Willis Towers Watson
WTW
+$147M
4
GILD icon
Gilead Sciences
GILD
+$84.4M
5
BRK.B icon
Berkshire Hathaway Class B
BRK.B
+$60.2M

Sector Composition

Rank Sector Weight
1 Financials 19.42%
2 Technology 14.12%
3 Healthcare 14.08%
4 Communication Services 10.65%
5 Industrials 8.2%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
A icon
276
Agilent Technologies
A
$40.8B
$6.26M 0.05%
97,469
-8,500
-8% -$529K
FITB
277
Fifth Third Bancorp
FITB
$51.9B
$6.26M 0.05%
223,604
-23,000
-9% -$610K
AAL icon
278
American Airlines Group
AAL
$10.6B
$6.25M 0.05%
131,556
-30,300
-19% -$1.47M
DLTR icon
279
Dollar Tree
DLTR
$25.2B
$6.24M 0.05%
71,910
-5,900
-8% -$450K
KEY icon
280
KeyCorp
KEY
$24.4B
$6.21M 0.05%
330,027
-30,200
-8% -$546K
RCL icon
281
Royal Caribbean
RCL
$85.6B
$6.18M 0.05%
52,172
-3,000
-5% -$351K
TSN icon
282
Tyson Foods
TSN
$20.6B
$6.18M 0.05%
87,736
-7,000
-7% -$447K
HIG icon
283
Hartford Financial Services
HIG
$39.3B
$6.13M 0.05%
110,575
-10,200
-8% -$555K
GEN icon
284
Gen Digital
GEN
$17.5B
$6.12M 0.05%
186,529
-13,400
-7% -$408K
NEM icon
285
Newmont
NEM
$118B
$6.07M 0.05%
161,855
-13,400
-8% -$487K
INCY icon
286
Incyte
INCY
$24.4B
$6.05M 0.05%
51,800
-4,100
-7% -$519K
WEC icon
287
WEC Energy
WEC
$35.2B
$6.01M 0.05%
95,777
-7,900
-8% -$504K
NTRS icon
288
Northern Trust
NTRS
$33.8B
$5.99M 0.05%
65,154
-5,800
-8% -$524K
RHT
289
DELISTED
Red Hat Inc
RHT
$5.97M 0.05%
53,896
-4,500
-8% -$461K
CXO
290
DELISTED
CONCHO RESOURCES INC.
CXO
$5.95M 0.05%
45,132
-3,600
-7% -$433K
DVN icon
291
Devon Energy
DVN
$47.7B
$5.86M 0.05%
159,563
-13,200
-8% -$428K
DTE icon
292
DTE Energy
DTE
$29.2B
$5.84M 0.05%
63,947
-5,288
-8% -$490K
PAYX icon
293
Paychex
PAYX
$42.8B
$5.82M 0.05%
97,111
-8,000
-8% -$457K
ES icon
294
Eversource Energy
ES
$27.4B
$5.81M 0.05%
96,164
-8,000
-8% -$494K
ORLY icon
295
O'Reilly Automotive
ORLY
$76.1B
$5.76M 0.05%
401,205
-48,000
-11% -$634K
BXP icon
296
Boston Properties
BXP
$11.1B
$5.75M 0.05%
46,828
-3,700
-7% -$448K
CFG icon
297
Citizens Financial Group
CFG
$30.7B
$5.75M 0.05%
151,900
-14,600
-9% -$511K
FCX icon
298
Freeport-McMoran
FCX
$97.3B
$5.73M 0.05%
408,323
-29,100
-7% -$409K
SWKS icon
299
Skyworks Solutions
SWKS
$10.5B
$5.68M 0.05%
55,708
-4,900
-8% -$508K
RF icon
300
Regions Financial
RF
$26.9B
$5.52M 0.04%
362,670
-32,400
-8% -$466K
10 11
12
13 14

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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
Davis Selected Advisers Tucson, Arizona $21.8B AUM 23.45% 1-Year Est. Return

State of Michigan Retirement System's Q3 2017 Portfolio in Review

As of Q3 2017, State of Michigan Retirement System held 969 positions worth $12.4B, down 6.7% from $13.2B the previous quarter. Its ten largest holdings account for 23% of the portfolio.

State of Michigan Retirement System withdrew a net $1.43B in Q3 2017, closing 25 positions and reducing 850 holdings. Its most notable exit was Reynolds American Inc, an estimated $36.2M position sold in full.

By sector, the portfolio is most concentrated in Financials at 19% of assets, down from 21% a quarter earlier, followed by Technology and Healthcare.

Against the trend, State of Michigan Retirement System opened a new position in British American Tobacco worth $24.6M.

  • State of Michigan Retirement System's largest Q3 2017 buy was British American Tobacco: 393,715 shares worth $24.6M.
  • State of Michigan Retirement System added most to AGNC Investment in Q3 2017, an estimated $128M increase.
  • State of Michigan Retirement System's biggest Q3 2017 reduction was JPMorgan Chase, cutting an estimated $200M.
  • State of Michigan Retirement System fully exited Reynolds American Inc in Q3 2017, selling an estimated $36.2M.
  • State of Michigan Retirement System's ten largest holdings make up 23% of its $12.4B portfolio in Q3 2017.
  • State of Michigan Retirement System opened 21 new positions and closed 25 in Q3 2017.
  • State of Michigan Retirement System's portfolio value fell 6.7% quarter-over-quarter to $12.4B.

Based on State of Michigan Retirement System's 13F filing for Q3 2017, filed 19 Oct 2017.