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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
+5.02%
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
$12.4B
AUM Growth
-$886M
Cap. Flow
-$1.43B
Cap. Flow %
-11.61%
Top 10 Hldgs %
23.49%
Holding
969
New
21
Increased
50
Reduced
850
Closed
25

Top Buys

Rank Stock Value
1
AGNC icon
AGNC Investment
AGNC
+$128M
2
ALLY icon
Ally Financial
ALLY
+$52.1M
3
MCHP icon
Microchip Technology
MCHP
+$29.8M
4
DGX icon
Quest Diagnostics
DGX
+$28.6M
5
CVS icon
CVS Health
CVS
+$26.6M

Top Sells

Rank Stock Value
1
JPM icon
JPMorgan Chase
JPM
+$200M
2
AAPL icon
Apple
AAPL
+$187M
3
WTW icon
Willis Towers Watson
WTW
+$147M
4
GILD icon
Gilead Sciences
GILD
+$84.4M
5
BRK.B icon
Berkshire Hathaway Class B
BRK.B
+$60.2M

Sector Composition

Rank Sector Weight
1 Financials 19.42%
2 Technology 14.12%
3 Healthcare 14.08%
4 Communication Services 10.65%
5 Industrials 8.2%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GOOG icon
26
Alphabet (Google) Class C
GOOG
$4.57T
$87.9M 0.71%
1,832,340
-128,000
-7% -$5.96M
PFE icon
27
Pfizer
PFE
$145B
$86.4M 0.7%
2,552,078
-690,897
-21% -$22.2M
T icon
28
AT&T
T
$157B
$85.9M 0.7%
2,902,419
-704,500
-20% -$20M
CELG
29
DELISTED
Celgene Corp
CELG
$82.3M 0.67%
564,452
-19,200
-3% -$2.62M
INTC icon
30
Intel
INTC
$506B
$79.9M 0.65%
2,099,111
-121,700
-5% -$4.33M
AXP icon
31
American Express
AXP
$235B
$78.8M 0.64%
870,901
-24,100
-3% -$2.07M
SHW icon
32
Sherwin-Williams
SHW
$88.5B
$77M 0.62%
644,973
-199,800
-24% -$22.9M
BAC icon
33
Bank of America
BAC
$442B
$75.4M 0.61%
2,977,435
-293,200
-9% -$7.12M
HON icon
34
Honeywell
HON
$78.6B
$72.5M 0.59%
566,049
– –
CMCSA icon
35
Comcast
CMCSA
$87.2B
$71.3M 0.58%
1,854,022
-515,200
-22% -$20.3M
PM icon
36
Philip Morris
PM
$290B
$70.6M 0.57%
635,765
-141,600
-18% -$16.5M
IBM icon
37
IBM
IBM
$222B
$68.4M 0.55%
493,175
+190,895
+63% +$26.6M
FTAI icon
38
FTAI Aviation
FTAI
$23.6B
$68.1M 0.55%
4,422,777
– –
CVX icon
39
Chevron
CVX
$372B
$67.6M 0.55%
575,068
-47,600
-8% -$5.2M
XYZ
40
Block Inc
XYZ
$50.2B
$67.4M 0.55%
2,340,000
+750,000
+47% +$19.6M
GE icon
41
GE Aerospace
GE
$395B
$66.2M 0.54%
571,601
-140,575
-20% -$17M
TMO icon
42
Thermo Fisher Scientific
TMO
$213B
$64.5M 0.52%
340,731
-7,100
-2% -$1.29M
IJH icon
43
iShares Core S&P Mid-Cap ETF
IJH
$125B
$63.2M 0.51%
1,767,500
-17,500
-1% -$610K
USB icon
44
US Bancorp
USB
$100B
$61.7M 0.5%
1,150,842
-38,400
-3% -$2.01M
ABBV icon
45
AbbVie
ABBV
$435B
$61M 0.49%
686,503
-254,200
-27% -$19.4M
C icon
46
Citigroup
C
$232B
$60.1M 0.49%
826,756
-78,100
-9% -$5.33M
MO icon
47
Altria Group
MO
$113B
$59.3M 0.48%
935,302
+289,600
+45% +$19.3M
XLF icon
48
State Street Financial Select Sector SPDR ETF
XLF
$58.5B
$58.6M 0.47%
2,267,600
– –
UNH icon
49
UnitedHealth
UNH
$374B
$57.5M 0.47%
293,413
-23,300
-7% -$4.5M
BA icon
50
Boeing
BA
$188B
$56.2M 0.46%
221,250
+36,800
+20% +$8.58M
1
2
3 4 5

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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
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State of Michigan Retirement System's Q3 2017 Portfolio in Review

As of Q3 2017, State of Michigan Retirement System held 969 positions worth $12.4B, down 6.7% from $13.2B the previous quarter. Its ten largest holdings account for 23% of the portfolio.

State of Michigan Retirement System withdrew a net $1.43B in Q3 2017, closing 25 positions and reducing 850 holdings. Its most notable exit was Reynolds American Inc, an estimated $36.2M position sold in full.

By sector, the portfolio is most concentrated in Financials at 19% of assets, down from 21% a quarter earlier, followed by Technology and Healthcare.

Against the trend, State of Michigan Retirement System opened a new position in British American Tobacco worth $24.6M.

  • State of Michigan Retirement System's largest Q3 2017 buy was British American Tobacco: 393,715 shares worth $24.6M.
  • State of Michigan Retirement System added most to AGNC Investment in Q3 2017, an estimated $128M increase.
  • State of Michigan Retirement System's biggest Q3 2017 reduction was JPMorgan Chase, cutting an estimated $200M.
  • State of Michigan Retirement System fully exited Reynolds American Inc in Q3 2017, selling an estimated $36.2M.
  • State of Michigan Retirement System's ten largest holdings make up 23% of its $12.4B portfolio in Q3 2017.
  • State of Michigan Retirement System opened 21 new positions and closed 25 in Q3 2017.
  • State of Michigan Retirement System's portfolio value fell 6.7% quarter-over-quarter to $12.4B.

Based on State of Michigan Retirement System's 13F filing for Q3 2017, filed 19 Oct 2017.