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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
-12.75%
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
$11.1B
AUM Growth
-$2.52B
Cap. Flow
-$649M
Cap. Flow %
-5.82%
Top 10 Hldgs %
23.67%
Holding
963
New
23
Increased
75
Reduced
826
Closed
19

Top Buys

Rank Stock Value
1
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$107M
2
RITM icon
Rithm Capital
RITM
+$68.6M
3
HON icon
Honeywell
HON
+$65.1M
4
DXC icon
DXC Technology
DXC
+$44.8M
5
RTN
Raytheon Company
RTN
+$41.3M

Top Sells

Rank Stock Value
1
EXC icon
Exelon
EXC
+$125M
2
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$108M
3
AXP icon
American Express
AXP
+$99.1M
4
V icon
Visa
V
+$83.3M
5
CVS icon
CVS Health
CVS
+$79.7M

Sector Composition

Rank Sector Weight
1 Technology 15.27%
2 Financials 14.8%
3 Healthcare 13.25%
4 Real Estate 12.44%
5 Industrials 8.76%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TXT icon
401
Textron
TXT
$15.4B
$3.2M 0.03%
69,537
-4,500
-6% -$253K
ETFC
402
DELISTED
E*Trade Financial Corporation
ETFC
$3.19M 0.03%
72,758
-364,600
-83% -$17.9M
CMA
403
DELISTED
Comerica
CMA
$3.18M 0.03%
46,276
-4,800
-9% -$382K
HOLX
404
DELISTED
Hologic
HOLX
$3.17M 0.03%
77,160
-3,900
-5% -$160K
PTC icon
405
PTC
PTC
$16B
$3.15M 0.03%
38,039
-1,200
-3% -$105K
RGA icon
406
Reinsurance Group of America
RGA
$16.1B
$3.14M 0.03%
22,400
-1,100
-5% -$156K
CBOE icon
407
Cboe Global Markets
CBOE
$29.9B
$3.14M 0.03%
32,100
-1,200
-4% -$125K
ANET icon
408
Arista Networks
ANET
$238B
$3.14M 0.03%
238,400
-8,000
-3% -$115K
KSS icon
409
Kohl's
KSS
$2.19B
$3.14M 0.03%
47,310
-2,400
-5% -$168K
LNC icon
410
Lincoln National
LNC
$8.81B
$3.14M 0.03%
61,181
-3,400
-5% -$207K
KMX icon
411
CarMax
KMX
$8.26B
$3.14M 0.03%
50,005
-2,600
-5% -$172K
UDR icon
412
UDR
UDR
$12.3B
$3.13M 0.03%
78,904
-900
-1% -$36.4K
MAA icon
413
Mid-America Apartment Communities
MAA
$15.7B
$3.12M 0.03%
32,601
-1,300
-4% -$129K
BKR icon
414
Baker Hughes
BKR
$61.1B
$3.11M 0.03%
144,701
+20,600
+17% +$526K
LW icon
415
Lamb Weston
LW
$7.19B
$3.08M 0.03%
41,900
-12,300
-23% -$942K
MLM icon
416
Martin Marietta Materials
MLM
$33B
$3.08M 0.03%
17,912
-900
-5% -$160K
VNO icon
417
Vornado Realty Trust
VNO
$7.38B
$3.07M 0.03%
49,550
-2,000
-4% -$137K
WDC icon
418
Western Digital
WDC
$150B
$3.06M 0.03%
109,609
-5,292
-5% -$188K
SJM icon
419
J.M. Smucker
SJM
$12.8B
$3.05M 0.03%
32,600
-1,300
-4% -$136K
CMG icon
420
Chipotle Mexican Grill
CMG
$41.5B
$3.04M 0.03%
352,000
-15,000
-4% -$136K
DVN icon
421
Devon Energy
DVN
$47.3B
$3.02M 0.03%
134,063
-17,500
-12% -$538K
TAP icon
422
Molson Coors Class B
TAP
$8.09B
$3.01M 0.03%
53,599
-2,200
-4% -$135K
CAG icon
423
Conagra Brands
CAG
$7.23B
$2.97M 0.03%
139,071
+22,400
+19% +$724K
DOV icon
424
Dover
DOV
$28.4B
$2.97M 0.03%
41,862
-2,100
-5% -$171K
MOS icon
425
The Mosaic Company
MOS
$7.33B
$2.96M 0.03%
101,482
-4,200
-4% -$138K
15 16
17
18 19

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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
AM
AGF Management Toronto, Ontario, Canada $22.3B AUM 46.42% 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
Luther King Capital Management (LKCM)
Luther King Capital Management (LKCM) Fort Worth, Texas $23.1B AUM 21.31% 1-Year Est. Return
DSA
Davis Selected Advisers Tucson, Arizona $21.8B AUM 23.45% 1-Year Est. Return

State of Michigan Retirement System's Q4 2018 Portfolio in Review

As of Q4 2018, State of Michigan Retirement System held 963 positions worth $11.1B, down 18% from $13.7B the previous quarter. Its ten largest holdings account for 24% of the portfolio.

State of Michigan Retirement System withdrew a net $649M in Q4 2018, closing 19 positions and reducing 826 holdings. Its most notable exit was CA, Inc., an estimated $39.2M position sold in full.

By sector, the portfolio is most concentrated in Technology at 15% of assets, down from 17% a quarter earlier, followed by Financials and Healthcare.

Against the trend, State of Michigan Retirement System opened a new position in Honeywell worth $59.4M.

  • State of Michigan Retirement System's largest Q4 2018 buy was Honeywell: 477,026 shares worth $59.4M.
  • State of Michigan Retirement System added most to State Street SPDR S&P 500 ETF Trust in Q4 2018, an estimated $107M increase.
  • State of Michigan Retirement System's biggest Q4 2018 reduction was Exelon, cutting an estimated $125M.
  • State of Michigan Retirement System fully exited CA, Inc. in Q4 2018, selling an estimated $39.2M.
  • State of Michigan Retirement System's ten largest holdings make up 24% of its $11.1B portfolio in Q4 2018.
  • State of Michigan Retirement System opened 23 new positions and closed 19 in Q4 2018.
  • State of Michigan Retirement System's portfolio value fell 18% quarter-over-quarter to $11.1B.

Based on State of Michigan Retirement System's 13F filing for Q4 2018, filed 1 Feb 2019.