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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
BR icon
326
Broadridge
BR
$19.8B
$7.7M 0.04%
31,760
– –
IP icon
327
International Paper
IP
$21.9B
$7.63M 0.04%
142,996
+48,700
+52% +$2.66M
WBD icon
328
Warner Bros
WBD
$67.4B
$7.61M 0.04%
709,425
-300
-0% -$3.14K
ANSS
329
DELISTED
Ansys
ANSS
$7.51M 0.04%
23,711
– –
STT icon
330
State Street
STT
$51.3B
$7.51M 0.04%
83,828
-1,300
-2% -$124K
FITB
331
Fifth Third Bancorp
FITB
$51.8B
$7.48M 0.04%
190,716
-300
-0.2% -$12.7K
CHD icon
332
Church & Dwight Co
CHD
$24.5B
$7.35M 0.04%
66,751
+300
+0.5% +$32.1K
AEE icon
333
Ameren
AEE
$29.6B
$7.35M 0.04%
73,187
+700
+1% +$67.4K
TMDX icon
334
Transmedics
TMDX
$3.07B
$7.27M 0.04%
108,000
– –
DXCM icon
335
DexCom
DXCM
$33.1B
$7.24M 0.04%
106,000
– –
DOW icon
336
Dow Inc
DOW
$22.1B
$7.18M 0.04%
205,611
+900
+0.4% +$34.6K
DVN icon
337
Devon Energy
DVN
$49.9B
$7.14M 0.04%
190,891
-100
-0.1% -$3.55K
EQR icon
338
Equity Residential
EQR
$24.7B
$7.14M 0.04%
99,725
+100
+0.1% +$7.06K
PPG icon
339
PPG Industries
PPG
$25.7B
$7.13M 0.04%
65,243
– –
HSY icon
340
Hershey
HSY
$36.7B
$7.12M 0.04%
41,634
– –
VEEV icon
341
Veeva Systems
VEEV
$38.1B
$7.09M 0.04%
30,600
– –
MCHP icon
342
Microchip Technology
MCHP
$44.2B
$7.06M 0.04%
145,918
+200
+0.1% +$11.1K
GPN icon
343
Global Payments
GPN
$22.8B
$7.06M 0.04%
72,078
-11,900
-14% -$1.25M
KEYS icon
344
Keysight
KEYS
$57.3B
$7.03M 0.04%
46,931
-200
-0.4% -$33K
ETHE
345
Grayscale Ethereum Staking ETF Shares
ETHE
$1.52B
$7M 0.04%
460,000
– –
RJF icon
346
Raymond James Financial
RJF
$34.5B
$6.95M 0.04%
50,044
+400
+0.8% +$62.1K
GDDY icon
347
GoDaddy
GDDY
$11.6B
$6.9M 0.04%
38,300
+200
+0.5% +$38.2K
VLTO icon
348
Veralto
VLTO
$23.7B
$6.88M 0.04%
70,648
-100
-0.1% -$9.98K
NVR icon
349
NVR
NVR
$16.8B
$6.85M 0.04%
946
– –
IRM icon
350
Iron Mountain
IRM
$36.2B
$6.85M 0.04%
79,646
– –
12 13
14
15 16

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.