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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
PPL
351
PPL Corp
PPL
$26.3B
$6.1M 0.04%
225,048
-10,000
-4% -$254K
SNAP icon
352
Snap
SNAP
$9.05B
$6.08M 0.04%
359,370
– –
ILMN icon
353
Illumina
ILMN
$29B
$6.05M 0.04%
44,646
– –
MOH icon
354
Molina Healthcare
MOH
$10.4B
$5.97M 0.04%
16,532
– –
STE icon
355
Steris
STE
$23.3B
$5.95M 0.04%
27,048
– –
DOV icon
356
Dover
DOV
$28.3B
$5.89M 0.04%
38,323
– –
ETR icon
357
Entergy
ETR
$49.3B
$5.86M 0.03%
115,804
-200
-0.2% -$9.76K
LH icon
358
Labcorp
LH
$26.1B
$5.82M 0.03%
25,587
-1,100
-4% -$231K
HWM icon
359
Howmet Aerospace
HWM
$113B
$5.79M 0.03%
107,045
-300
-0.3% -$14.8K
BBY icon
360
Best Buy
BBY
$17.4B
$5.75M 0.03%
73,503
+1,100
+2% +$77.5K
TDY icon
361
Teledyne Technologies
TDY
$32B
$5.74M 0.03%
12,869
– –
RJF icon
362
Raymond James Financial
RJF
$34.5B
$5.74M 0.03%
51,444
-100
-0.2% -$10.3K
BROS icon
363
Dutch Bros
BROS
$8.96B
$5.7M 0.03%
180,000
– –
PTC icon
364
PTC
PTC
$16.4B
$5.7M 0.03%
32,554
– –
IFF icon
365
International Flavors & Fragrances
IFF
$21.7B
$5.66M 0.03%
69,915
-100
-0.1% -$7.23K
TWST icon
366
Twist Bioscience
TWST
$7.83B
$5.65M 0.03%
153,172
– –
STLD icon
367
Steel Dynamics
STLD
$38.5B
$5.63M 0.03%
47,660
-5,600
-11% -$624K
IRM icon
368
Iron Mountain
IRM
$36.2B
$5.59M 0.03%
79,946
-100
-0.1% -$6.27K
CPAY icon
369
Corpay
CPAY
$26.2B
$5.59M 0.03%
19,784
-500
-2% -$124K
EQT icon
370
EQT Corp
EQT
$33.8B
$5.57M 0.03%
144,000
+27,800
+24% +$1.13M
ATO icon
371
Atmos Energy
ATO
$28.4B
$5.56M 0.03%
48,010
-33,200
-41% -$3.71M
WAT icon
372
Waters Corp
WAT
$40.4B
$5.56M 0.03%
16,897
+100
+0.6% +$27.6K
FSLR icon
373
First Solar
FSLR
$25.7B
$5.51M 0.03%
32,000
+2,700
+9% +$413K
VTR icon
374
Ventas
VTR
$47.2B
$5.49M 0.03%
110,205
-100
-0.1% -$4.48K
EXPD icon
375
Expeditors International
EXPD
$23.3B
$5.48M 0.03%
43,108
-900
-2% -$106K
13 14
15
16 17

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.