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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
XOM icon
26
ExxonMobil
XOM
$634B
$82.7M 0.74%
1,212,132
-49,400
-4% -$3.88M
CSCO icon
27
Cisco
CSCO
$479B
$82.5M 0.74%
1,904,891
+542,800
+40% +$24.8M
PG icon
28
Procter & Gamble
PG
$339B
$81.6M 0.73%
888,203
+56,500
+7% +$5.05M
PFE icon
29
Pfizer
PFE
$153B
$75.6M 0.68%
1,824,712
-249,798
-12% -$10.4M
ABBV icon
30
AbbVie
ABBV
$435B
$73.1M 0.66%
793,403
+139,400
+21% +$12.3M
CMCSA icon
31
Comcast
CMCSA
$90B
$72.6M 0.65%
2,131,322
+768,800
+56% +$28.1M
MA icon
32
Mastercard
MA
$493B
$72.6M 0.65%
384,628
+102,850
+37% +$20.4M
IBM icon
33
IBM
IBM
$224B
$72.2M 0.65%
664,510
+161,921
+32% +$19.4M
TMO icon
34
Thermo Fisher Scientific
TMO
$220B
$71.1M 0.64%
317,731
-50,700
-14% -$11.9M
IJH icon
35
iShares Core S&P Mid-Cap ETF
IJH
$127B
$70.1M 0.63%
2,111,455
+211,700
+11% +$7.72M
UNH icon
36
UnitedHealth
UNH
$370B
$68.6M 0.62%
275,413
-11,400
-4% -$3.01M
AMGN icon
37
Amgen
AMGN
$222B
$67.5M 0.61%
346,794
+59,500
+21% +$11.6M
PM icon
38
Philip Morris
PM
$295B
$67.1M 0.6%
1,005,665
+135,700
+16% +$11.3M
ACN icon
39
Accenture
ACN
$108B
$65.1M 0.58%
461,686
+77,500
+20% +$12.3M
BAC icon
40
Bank of America
BAC
$442B
$64.4M 0.58%
2,613,135
-154,800
-6% -$4.2M
MO icon
41
Altria Group
MO
$114B
$64M 0.57%
1,295,802
+265,100
+26% +$15.4M
XLF icon
42
State Street Financial Select Sector SPDR ETF
XLF
$58.2B
$63.5M 0.57%
2,664,900
+674,300
+34% +$17.5M
T icon
43
AT&T
T
$163B
$61.3M 0.55%
2,843,862
-549,677
-16% -$12.8M
USB icon
44
US Bancorp
USB
$99.6B
$60.8M 0.55%
1,330,042
+205,200
+18% +$10.6M
MRK icon
45
Merck
MRK
$318B
$59.9M 0.54%
821,159
-50,304
-6% -$3.55M
CVX icon
46
Chevron
CVX
$366B
$59.5M 0.53%
547,068
-23,900
-4% -$2.77M
HON icon
47
Honeywell
HON
$78B
$59.4M 0.53%
+477,026
New +$65.1M
LMT icon
48
Lockheed Martin
LMT
$136B
$58.1M 0.52%
221,818
+83,600
+60% +$25.4M
FTAI icon
49
FTAI Aviation
FTAI
$22.2B
$54.2M 0.49%
4,422,777
– –
KO icon
50
Coca-Cola
KO
$375B
$51.9M 0.47%
1,096,738
-43,800
-4% -$2.1M
1
2
3 4 5

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
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.