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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
+3.57%
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
$20.6B
AUM Growth
-$244M
Cap. Flow
-$619M
Cap. Flow %
-3.01%
Top 10 Hldgs %
37.15%
Holding
963
New
19
Increased
89
Reduced
756
Closed
28

Top Buys

Rank Stock Value
1
DUOL icon
Duolingo
DUOL
+$130M
2
KBDC
Kayne Anderson BDC
KBDC
+$95.7M
3
KR icon
Kroger
KR
+$52M
4
CRH icon
CRH
CRH
+$20.9M
5
MTUM icon
iShares MSCI USA Momentum Factor ETF
MTUM
+$16M

Top Sells

Rank Stock Value
1
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$238M
2
NVDA icon
NVIDIA
NVDA
+$55.6M
3
AAPL icon
Apple
AAPL
+$40.7M
4
SPOT icon
Spotify
SPOT
+$39.1M
5
MSFT icon
Microsoft
MSFT
+$31M

Sector Composition

Rank Sector Weight
1 Technology 33%
2 Financials 12.17%
3 Communication Services 10.58%
4 Consumer Discretionary 9.44%
5 Healthcare 8.86%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PKG icon
426
Packaging Corp of America
PKG
$22.9B
$5M 0.02%
24,263
-700
-3% -$142K
BBY icon
427
Best Buy
BBY
$18B
$4.99M 0.02%
74,603
+1,500
+2% +$114K
ROL icon
428
Rollins
ROL
$17.4B
$4.99M 0.02%
83,158
+1,800
+2% +$106K
PFG icon
429
Principal Financial Group
PFG
$24.6B
$4.99M 0.02%
56,580
-1,000
-2% -$84.4K
CHRW icon
430
C.H. Robinson
CHRW
$17.5B
$4.97M 0.02%
30,892
-1,000
-3% -$148K
P
431
Everpure Inc
P
$39B
$4.95M 0.02%
73,800
-100
-0.1% -$8.35K
FFIV icon
432
F5
FFIV
$23.6B
$4.92M 0.02%
19,288
+400
+2% +$108K
TXT icon
433
Textron
TXT
$15.1B
$4.91M 0.02%
56,371
+700
+1% +$58.6K
GEN icon
434
Gen Digital
GEN
$17.7B
$4.91M 0.02%
180,675
-7,600
-4% -$205K
TRMB icon
435
Trimble
TRMB
$13.4B
$4.88M 0.02%
62,323
-2,000
-3% -$159K
CASY icon
436
Casey's General Stores
CASY
$31.6B
$4.88M 0.02%
8,821
– –
TWST icon
437
Twist Bioscience
TWST
$7.86B
$4.86M 0.02%
153,172
– –
CW icon
438
Curtiss-Wright
CW
$25.4B
$4.83M 0.02%
8,761
-200
-2% -$112K
EVRG icon
439
Evergy
EVRG
$19.3B
$4.82M 0.02%
66,481
-3,600
-5% -$273K
ILMN icon
440
Illumina
ILMN
$29.1B
$4.73M 0.02%
36,100
-500
-1% -$58.7K
MAA icon
441
Mid-America Apartment Communities
MAA
$15.6B
$4.71M 0.02%
33,899
-1,400
-4% -$187K
IFF icon
442
International Flavors & Fragrances
IFF
$21.4B
$4.68M 0.02%
69,515
+200
+0.3% +$12.9K
CDW icon
443
CDW
CDW
$17.8B
$4.64M 0.02%
34,045
-1,400
-4% -$206K
DD icon
444
DuPont de Nemours
DD
$19.5B
$4.59M 0.02%
38,065
-56,176
-60% -$6.32M
LII icon
445
Lennox International
LII
$14.5B
$4.56M 0.02%
9,400
-200
-2% -$100K
FOXA icon
446
Fox Class A
FOXA
$27.5B
$4.55M 0.02%
62,312
-1,400
-2% -$91.5K
MKC icon
447
McCormick & Company Non-Voting
MKC
$14.6B
$4.52M 0.02%
66,310
-2,100
-3% -$139K
RBA icon
448
RB Global
RBA
$16B
$4.52M 0.02%
43,900
-300
-0.7% -$30.5K
GPC icon
449
Genuine Parts
GPC
$18.7B
$4.48M 0.02%
36,429
-1,200
-3% -$155K
Q
450
Qnity Electronics Inc
Q
$29.8B
$4.48M 0.02%
+54,847
New +$4.66M
16 17
18
19 20

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
CAM
Cresset Asset Management Chicago, Illinois $23.1B AUM 27.04% 1-Year Est. Return
CHP
Castle Hook Partners New York $23.4B AUM 158.96% 1-Year Est. Return
OAG
Orbis Allan Gray Hamilton, Bermuda $23.7B AUM 65.43% 1-Year Est. Return
Jacobs Levy Equity Management
Jacobs Levy Equity Management Florham Park, New Jersey $23.8B AUM 25.4% 1-Year Est. Return
Teacher Retirement System of Texas
Teacher Retirement System of Texas Austin, Texas $24B AUM 29.51% 1-Year Est. Return

State of Michigan Retirement System's Q4 2025 Portfolio in Review

As of Q4 2025, State of Michigan Retirement System held 963 positions worth $20.6B, down 1.2% from $20.8B the previous quarter. Its ten largest holdings account for 37% of the portfolio.

State of Michigan Retirement System withdrew a net $619M in Q4 2025, closing 28 positions and reducing 756 holdings. Its most notable exit was Spotify, an estimated $39.1M position sold in full.

By sector, the portfolio is most concentrated in Technology at 33% of assets, up from 33% a quarter earlier, followed by Financials and Communication Services.

Against the trend, State of Michigan Retirement System opened a new position in Kayne Anderson BDC worth $94M.

  • State of Michigan Retirement System's largest Q4 2025 buy was Kayne Anderson BDC: 6,566,762 shares worth $94M.
  • State of Michigan Retirement System added most to Duolingo in Q4 2025, an estimated $130M increase.
  • State of Michigan Retirement System's biggest Q4 2025 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $238M.
  • State of Michigan Retirement System fully exited Spotify in Q4 2025, selling an estimated $39.1M.
  • State of Michigan Retirement System's ten largest holdings make up 37% of its $20.6B portfolio in Q4 2025.
  • State of Michigan Retirement System opened 19 new positions and closed 28 in Q4 2025.
  • State of Michigan Retirement System's portfolio value fell 1.2% quarter-over-quarter to $20.6B.

Based on State of Michigan Retirement System's 13F filing for Q4 2025, filed 29 Jan 2026.