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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
MTB icon
301
M&T Bank
MTB
$36.3B
$8.54M 0.05%
47,801
– –
EXR icon
302
Extra Space Storage
EXR
$31B
$8.54M 0.05%
57,479
-100
-0.2% -$15.2K
NDAQ icon
303
Nasdaq
NDAQ
$53.4B
$8.52M 0.05%
112,290
– –
DD icon
304
DuPont de Nemours
DD
$19.1B
$8.47M 0.05%
90,337
– –
VMC icon
305
Vulcan Materials
VMC
$37B
$8.35M 0.05%
35,776
-100
-0.3% -$25.4K
PHM icon
306
Pultegroup
PHM
$24.8B
$8.28M 0.05%
80,569
-700
-0.9% -$75.6K
ARKB icon
307
ARK 21Shares Bitcoin ETF
ARKB
$2.44B
$8.22M 0.05%
300,000
– –
EFX icon
308
Equifax
EFX
$21.3B
$8.2M 0.05%
33,678
– –
VTR icon
309
Ventas
VTR
$47.2B
$8.16M 0.05%
118,605
+4,700
+4% +$300K
ATO icon
310
Atmos Energy
ATO
$28.4B
$8.13M 0.05%
52,610
+900
+2% +$131K
TPL icon
311
Texas Pacific Land
TPL
$24.2B
$8.08M 0.05%
18,300
– –
EXE
312
Expand Energy Corp
EXE
$22.6B
$8.04M 0.05%
72,200
+7,294
+11% +$759K
BRO icon
313
Brown & Brown
BRO
$24B
$8.01M 0.05%
64,351
-100
-0.2% -$11.2K
SSYS icon
314
Stratasys
SSYS
$769M
$8M 0.05%
817,503
– –
IQV icon
315
IQVIA
IQV
$39.8B
$8M 0.05%
45,394
-1,400
-3% -$272K
ADM icon
316
Archer Daniels Midland
ADM
$38.8B
$8M 0.05%
166,541
+100
+0.1% +$4.84K
MPWR icon
317
Monolithic Power Systems
MPWR
$67.9B
$7.99M 0.05%
13,770
-300
-2% -$189K
DAL icon
318
Delta Air Lines
DAL
$58.7B
$7.97M 0.05%
182,803
+100
+0.1% +$5.93K
ROK icon
319
Rockwell Automation
ROK
$48.3B
$7.94M 0.05%
30,713
+100
+0.3% +$27.8K
MLM icon
320
Martin Marietta Materials
MLM
$33B
$7.91M 0.05%
16,537
-100
-0.6% -$50.8K
XYL icon
321
Xylem
XYL
$28.3B
$7.87M 0.05%
65,875
-100
-0.2% -$12.4K
HPE icon
322
Hewlett Packard
HPE
$72.4B
$7.85M 0.05%
508,981
+3,800
+0.8% +$75.7K
DTE icon
323
DTE Energy
DTE
$28.5B
$7.77M 0.04%
56,177
– –
PPL
324
PPL Corp
PPL
$26.3B
$7.77M 0.04%
215,048
– –
STZ icon
325
Constellation Brands
STZ
$22.8B
$7.74M 0.04%
42,158
-200
-0.5% -$36.3K
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 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.