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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
GLW icon
301
Corning
GLW
$143B
$5.02M 0.04%
193,865
+17,596
+10% +$399K
ALGN icon
302
Align Technology
ALGN
$12.3B
$5.01M 0.04%
18,262
+1,862
+11% +$419K
VFC icon
303
VF Corp
VFC
$5.89B
$4.96M 0.04%
81,457
+6,329
+8% +$369K
MTD icon
304
Mettler-Toledo International
MTD
$28.6B
$4.93M 0.04%
6,125
+585
+11% +$435K
HSY icon
305
Hershey
HSY
$36.6B
$4.87M 0.04%
37,605
+3,623
+11% +$487K
CHD icon
306
Church & Dwight Co
CHD
$24.5B
$4.85M 0.04%
62,795
+6,571
+12% +$478K
MKTX icon
307
MarketAxess Holdings
MKTX
$5.72B
$4.85M 0.04%
9,681
+981
+11% +$457K
ETR icon
308
Entergy
ETR
$50B
$4.79M 0.04%
102,222
+10,992
+12% +$534K
INCY icon
309
Incyte
INCY
$24.4B
$4.79M 0.04%
46,104
+5,204
+13% +$502K
AJG icon
310
Arthur J. Gallagher & Co
AJG
$63.6B
$4.72M 0.04%
48,454
+5,702
+13% +$505K
FTNT icon
311
Fortinet
FTNT
$117B
$4.7M 0.04%
171,125
+8,625
+5% +$217K
AMP icon
312
Ameriprise Financial
AMP
$48.8B
$4.69M 0.04%
31,249
+2,233
+8% +$286K
DHI icon
313
D.R. Horton
DHI
$42.3B
$4.68M 0.04%
84,485
+7,625
+10% +$370K
LUV icon
314
Southwest Airlines
LUV
$23B
$4.68M 0.04%
137,007
+28,423
+26% +$903K
FRC
315
DELISTED
First Republic Bank
FRC
$4.64M 0.04%
43,812
+5,112
+13% +$525K
CARR icon
316
Carrier Global
CARR
$52.8B
$4.62M 0.04%
+207,943
New +$3.86M
ETSY icon
317
Etsy
ETSY
$7.85B
$4.59M 0.04%
43,238
+10,338
+31% +$765K
FDS icon
318
Factset
FDS
$10.2B
$4.54M 0.04%
13,825
+3,225
+30% +$932K
TSN icon
319
Tyson Foods
TSN
$20.4B
$4.49M 0.04%
75,182
+7,446
+11% +$451K
AEE icon
320
Ameren
AEE
$30.1B
$4.44M 0.04%
63,093
+6,671
+12% +$484K
AKAM icon
321
Akamai
AKAM
$15.9B
$4.44M 0.04%
41,439
+4,316
+12% +$434K
FICO icon
322
Fair Isaac
FICO
$22.5B
$4.42M 0.04%
10,562
+2,562
+32% +$935K
RSG icon
323
Republic Services
RSG
$65.7B
$4.41M 0.04%
53,687
+5,487
+11% +$442K
CPRT icon
324
Copart
CPRT
$27.5B
$4.4M 0.04%
211,172
+23,572
+13% +$473K
CTXS
325
DELISTED
Citrix Systems Inc
CTXS
$4.38M 0.04%
29,615
+3,141
+12% +$452K
11 12
13
14 15

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
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 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.