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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
CBOE icon
351
Cboe Global Markets
CBOE
$29.8B
$6.81M 0.04%
30,103
– –
FTV icon
352
Fortive
FTV
$18.6B
$6.77M 0.04%
122,827
-2,123
-2% -$125K
TYL icon
353
Tyler Technologies
TYL
$13B
$6.77M 0.04%
11,637
– –
MTD icon
354
Mettler-Toledo International
MTD
$28.6B
$6.73M 0.04%
5,696
– –
CTRA
355
DELISTED
Coterra Energy
CTRA
$6.67M 0.04%
230,959
-200
-0.1% -$5.58K
EXPE icon
356
Expedia Group
EXPE
$37.7B
$6.67M 0.04%
39,664
+100
+0.3% +$18.2K
WY icon
357
Weyerhaeuser
WY
$18.2B
$6.65M 0.04%
227,229
-300
-0.1% -$8.93K
ES icon
358
Eversource Energy
ES
$26.8B
$6.62M 0.04%
106,633
+100
+0.1% +$5.97K
DRI icon
359
Darden Restaurants
DRI
$24.9B
$6.61M 0.04%
31,812
-100
-0.3% -$19.3K
CPAY icon
360
Corpay
CPAY
$26.2B
$6.59M 0.04%
18,884
– –
SW
361
Smurfit Westrock
SW
$25B
$6.55M 0.04%
145,264
– –
DOV icon
362
Dover
DOV
$28.3B
$6.54M 0.04%
37,223
– –
SBAC icon
363
SBA Communications
SBAC
$19.2B
$6.41M 0.04%
29,142
– –
CNP icon
364
CenterPoint Energy
CNP
$26.4B
$6.41M 0.04%
176,847
– –
WSM icon
365
Williams-Sonoma
WSM
$29.5B
$6.34M 0.04%
40,100
+3,460
+9% +$669K
TDY icon
366
Teledyne Technologies
TDY
$32B
$6.31M 0.04%
12,669
– –
CINF icon
367
Cincinnati Financial
CINF
$26.7B
$6.26M 0.04%
42,406
– –
HBAN icon
368
Huntington Bancshares
HBAN
$35.6B
$6.26M 0.04%
417,050
– –
EIX icon
369
Edison International
EIX
$26.1B
$6.19M 0.04%
105,012
-100
-0.1% -$5.75K
UAL icon
370
United Airlines
UAL
$40.2B
$6.16M 0.04%
89,228
– –
NTAP icon
371
NetApp
NTAP
$39B
$6.16M 0.04%
70,129
-400
-0.6% -$44.2K
TSN icon
372
Tyson Foods
TSN
$20.1B
$6.15M 0.04%
96,328
+100
+0.1% +$5.87K
WAT icon
373
Waters Corp
WAT
$40.4B
$6.12M 0.04%
16,597
– –
ZBH icon
374
Zimmer Biomet
ZBH
$18.7B
$6.11M 0.04%
54,015
– –
CMS icon
375
CMS Energy
CMS
$21.7B
$6.09M 0.04%
81,099
– –
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 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.