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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
STE icon
376
Steris
STE
$23.3B
$6.04M 0.03%
26,648
-100
-0.4% -$22K
K
377
DELISTED
Kellanova
K
$6.02M 0.03%
72,921
-100
-0.1% -$8.21K
TWST icon
378
Twist Bioscience
TWST
$7.83B
$6.01M 0.03%
153,172
– –
HAL icon
379
Halliburton
HAL
$28B
$5.98M 0.03%
235,522
-2,900
-1% -$76.2K
SYF icon
380
Synchrony
SYF
$25.4B
$5.97M 0.03%
112,840
-200
-0.2% -$12.4K
MAA icon
381
Mid-America Apartment Communities
MAA
$15.4B
$5.92M 0.03%
35,299
– –
TROW icon
382
T. Rowe Price
TROW
$24.3B
$5.9M 0.03%
64,213
+100
+0.2% +$10.6K
WRB icon
383
W.R. Berkley
WRB
$26.3B
$5.79M 0.03%
81,419
-300
-0.4% -$18.4K
CDW icon
384
CDW
CDW
$17.1B
$5.79M 0.03%
36,145
– –
LH icon
385
Labcorp
LH
$26.1B
$5.77M 0.03%
24,787
-100
-0.4% -$24.3K
RF icon
386
Regions Financial
RF
$26.8B
$5.7M 0.03%
262,339
– –
LUV icon
387
Southwest Airlines
LUV
$22B
$5.67M 0.03%
168,703
-2,000
-1% -$63.3K
MKC icon
388
McCormick & Company Non-Voting
MKC
$14.3B
$5.64M 0.03%
68,510
+100
+0.1% +$7.84K
FE icon
389
FirstEnergy
FE
$27.1B
$5.62M 0.03%
139,144
-100
-0.1% -$3.98K
VRSN icon
390
VeriSign
VRSN
$26.5B
$5.61M 0.03%
22,079
-400
-2% -$90.9K
ON icon
391
ON Semiconductor
ON
$31.1B
$5.59M 0.03%
137,336
-1,300
-0.9% -$65.4K
DECK icon
392
Deckers Outdoor
DECK
$13.3B
$5.56M 0.03%
49,700
– –
CCL icon
393
Carnival Corporation Ltd
CCL
$38B
$5.55M 0.03%
284,244
+2,300
+0.8% +$54.7K
LYV icon
394
Live Nation Entertainment
LYV
$43B
$5.55M 0.03%
42,511
– –
DGX icon
395
Quest Diagnostics
DGX
$26.2B
$5.54M 0.03%
32,717
-200
-0.6% -$32.9K
LYB icon
396
LyondellBasell Industries
LYB
$20.2B
$5.49M 0.03%
77,965
-200
-0.3% -$15K
BIIB icon
397
Biogen
BIIB
$30.6B
$5.43M 0.03%
39,703
-23,800
-37% -$3.4M
ULTA icon
398
Ulta Beauty
ULTA
$23.6B
$5.41M 0.03%
14,753
-200
-1% -$76.2K
STLD icon
399
Steel Dynamics
STLD
$38.5B
$5.4M 0.03%
43,160
– –
INVH icon
400
Invitation Homes
INVH
$17.8B
$5.39M 0.03%
154,600
– –
14 15
16
17 18

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.