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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
+12.86%
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
$16.8B
AUM Growth
+$1.35B
Cap. Flow
-$404M
Cap. Flow %
-2.4%
Top 10 Hldgs %
34.1%
Holding
982
New
18
Increased
351
Reduced
406
Closed
24

Top Buys

Rank Stock Value
1
ADBE icon
Adobe
ADBE
+$53.6M
2
AGG icon
iShares Core US Aggregate Bond ETF
AGG
+$48.5M
3
UBER icon
Uber
UBER
+$29.6M
4
META icon
Meta Platforms (Facebook)
META
+$22.1M
5
DIS icon
Walt Disney
DIS
+$22M

Top Sells

Rank Stock Value
1
LQD icon
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
+$96.3M
2
APO icon
Apollo Global Management
APO
+$92.6M
3
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$89.3M
4
TDOC icon
Teladoc Health
TDOC
+$55.9M
5
OMF icon
OneMain Financial
OMF
+$39.2M

Sector Composition

Rank Sector Weight
1 Technology 25.35%
2 Financials 11.06%
3 Communication Services 10.3%
4 Healthcare 9.58%
5 Consumer Discretionary 9.02%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GEHC icon
301
GE HealthCare
GEHC
$32.9B
$8.29M 0.05%
107,153
-100
-0.1% -$7K
VMC icon
302
Vulcan Materials
VMC
$37B
$8.26M 0.05%
36,376
– –
DG icon
303
Dollar General
DG
$27B
$8.16M 0.05%
60,054
-100
-0.2% -$12.1K
DLTR icon
304
Dollar Tree
DLTR
$24.9B
$8.14M 0.05%
57,269
-100
-0.2% -$11.8K
KEYS icon
305
Keysight
KEYS
$57.3B
$8.09M 0.05%
50,831
-400
-0.8% -$54.3K
HSY icon
306
Hershey
HSY
$36.7B
$8.08M 0.05%
43,334
– –
GLW icon
307
Corning
GLW
$136B
$7.99M 0.05%
262,259
+9,500
+4% +$272K
FICO icon
308
Fair Isaac
FICO
$22.7B
$7.92M 0.05%
6,800
– –
ULTA icon
309
Ulta Beauty
ULTA
$23.6B
$7.87M 0.05%
16,053
+100
+0.6% +$42.2K
DFS
310
DELISTED
Discover Financial Services
DFS
$7.7M 0.05%
68,501
– –
AVB icon
311
AvalonBay Communities
AVB
$26.3B
$7.7M 0.05%
41,111
+400
+1% +$69.8K
ACGL icon
312
Arch Capital
ACGL
$33.5B
$7.59M 0.05%
102,200
– –
EXAS
313
DELISTED
Exact Sciences
EXAS
$7.56M 0.05%
102,204
– –
XYL icon
314
Xylem
XYL
$28.3B
$7.54M 0.04%
65,975
– –
EIX icon
315
Edison International
EIX
$26.1B
$7.5M 0.04%
104,912
-200
-0.2% -$13.1K
SBAC icon
316
SBA Communications
SBAC
$19.2B
$7.49M 0.04%
29,542
-200
-0.7% -$44.9K
DAL icon
317
Delta Air Lines
DAL
$58.7B
$7.44M 0.04%
185,003
+2,400
+1% +$87K
WST icon
318
West Pharmaceutical
WST
$24.8B
$7.41M 0.04%
21,056
+100
+0.5% +$35.4K
TSCO icon
319
Tractor Supply
TSCO
$18B
$7.41M 0.04%
172,335
+2,000
+1% +$81.7K
NVR icon
320
NVR
NVR
$16.8B
$7.32M 0.04%
1,046
– –
WEC icon
321
WEC Energy
WEC
$34.6B
$7.27M 0.04%
86,384
-100
-0.1% -$8.23K
LYB icon
322
LyondellBasell Industries
LYB
$20.2B
$7.18M 0.04%
75,565
-1,000
-1% -$93.5K
RMD icon
323
ResMed
RMD
$31.9B
$7.18M 0.04%
41,711
+200
+0.5% +$30.7K
MTD icon
324
Mettler-Toledo International
MTD
$28.6B
$7.15M 0.04%
5,896
-100
-2% -$108K
FTV icon
325
Fortive
FTV
$18.6B
$7.09M 0.04%
127,737
-265
-0.2% -$14K
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
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 Q4 2023 Portfolio in Review

As of Q4 2023, State of Michigan Retirement System held 982 positions worth $16.8B, up 8.7% from $15.5B the previous quarter. Its ten largest holdings account for 34% of the portfolio.

Trading was light in Q4 2023: portfolio turnover was 4.3%. State of Michigan Retirement System opened 18 new positions and exited 24, leaving the 982-position portfolio largely intact.

By sector, the portfolio is most concentrated in Technology at 25% of assets, up from 24% a quarter earlier, followed by Financials and Communication Services.

  • State of Michigan Retirement System's largest Q4 2023 buy was Uber: 566,117 shares worth $34.9M.
  • State of Michigan Retirement System added most to Adobe in Q4 2023, an estimated $53.6M increase.
  • State of Michigan Retirement System's biggest Q4 2023 reduction was iShares iBoxx $ Investment Grade Corporate Bond ETF, cutting an estimated $96.3M.
  • State of Michigan Retirement System fully exited State Street SPDR S&P Homebuilders ETF in Q4 2023, selling an estimated $28.3M.
  • State of Michigan Retirement System's ten largest holdings make up 34% of its $16.8B portfolio in Q4 2023.
  • State of Michigan Retirement System opened 18 new positions and closed 24 in Q4 2023.
  • State of Michigan Retirement System's portfolio value rose 8.7% quarter-over-quarter to $16.8B.

Based on State of Michigan Retirement System's 13F filing for Q4 2023, filed 23 Jan 2024.