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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
+13.65%
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
$12.5B
AUM Growth
+$1.31B
Cap. Flow
-$79.1M
Cap. Flow %
-0.63%
Top 10 Hldgs %
22.44%
Holding
968
New
24
Increased
369
Reduced
350
Closed
18

Top Buys

Rank Stock Value
1
RITM icon
Rithm Capital
RITM
+$49.4M
2
SPNT icon
SiriusPoint
SPNT
+$44.7M
3
CVS icon
CVS Health
CVS
+$30.5M
4
ORCL icon
Oracle
ORCL
+$30.2M
5
SYK icon
Stryker
SYK
+$28.9M

Top Sells

Rank Stock Value
1
EXC icon
Exelon
EXC
+$82.5M
2
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$70.3M
3
GILD icon
Gilead Sciences
GILD
+$63.7M
4
MCK icon
McKesson
MCK
+$32.8M
5
COR icon
Cencora
COR
+$31.4M

Sector Composition

Rank Sector Weight
1 Technology 16.88%
2 Financials 14.51%
3 Real Estate 12.52%
4 Healthcare 12.42%
5 Industrials 9.62%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PG icon
26
Procter & Gamble
PG
$339B
$93.2M 0.75%
895,803
+7,600
+0.9% +$740K
TMO icon
27
Thermo Fisher Scientific
TMO
$220B
$92.3M 0.74%
337,131
+19,400
+6% +$4.83M
MA icon
28
Mastercard
MA
$493B
$90.6M 0.73%
384,628
– –
PM icon
29
Philip Morris
PM
$295B
$89.1M 0.72%
1,008,565
+2,900
+0.3% +$234K
IBM icon
30
IBM
IBM
$224B
$89.1M 0.72%
660,640
-3,870
-0.6% -$493K
CMCSA icon
31
Comcast
CMCSA
$90B
$85.3M 0.68%
2,133,022
+1,700
+0.1% +$64K
UNH icon
32
UnitedHealth
UNH
$370B
$85.2M 0.68%
344,513
+69,100
+25% +$17.6M
SYK icon
33
Stryker
SYK
$130B
$83.3M 0.67%
421,596
+160,700
+62% +$28.9M
HON icon
34
Honeywell
HON
$78B
$82.1M 0.66%
548,219
+71,193
+15% +$9.95M
ACN icon
35
Accenture
ACN
$108B
$81.5M 0.65%
462,886
+1,200
+0.3% +$189K
IJH icon
36
iShares Core S&P Mid-Cap ETF
IJH
$127B
$80.1M 0.64%
2,114,455
+3,000
+0.1% +$111K
MO icon
37
Altria Group
MO
$114B
$74.5M 0.6%
1,298,002
+2,200
+0.2% +$112K
BAC icon
38
Bank of America
BAC
$442B
$71.4M 0.57%
2,588,635
-24,500
-0.9% -$692K
PFE icon
39
Pfizer
PFE
$153B
$71.2M 0.57%
1,766,742
-57,970
-3% -$2.32M
ORCL icon
40
Oracle
ORCL
$423B
$71.1M 0.57%
1,324,360
+593,600
+81% +$30.2M
XLF icon
41
State Street Financial Select Sector SPDR ETF
XLF
$58.2B
$68.5M 0.55%
2,664,900
– –
T icon
42
AT&T
T
$163B
$67.8M 0.54%
2,864,516
+20,654
+0.7% +$475K
CVX icon
43
Chevron
CVX
$366B
$67.4M 0.54%
547,568
+500
+0.1% +$59.2K
LMT icon
44
Lockheed Martin
LMT
$136B
$66.6M 0.53%
221,818
– –
AMGN icon
45
Amgen
AMGN
$222B
$65.3M 0.52%
343,694
-3,100
-0.9% -$592K
MRK icon
46
Merck
MRK
$318B
$65.1M 0.52%
820,531
-628
-0.1% -$47K
FTAI icon
47
FTAI Aviation
FTAI
$22.2B
$64.6M 0.52%
4,422,777
– –
USB icon
48
US Bancorp
USB
$99.6B
$64M 0.51%
1,328,642
-1,400
-0.1% -$70.2K
ABBV icon
49
AbbVie
ABBV
$435B
$63.5M 0.51%
787,803
-5,600
-0.7% -$458K
ADBE icon
50
Adobe
ADBE
$105B
$61M 0.49%
228,833
+800
+0.4% +$202K
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
Davis Selected Advisers Tucson, Arizona $21.8B AUM 23.45% 1-Year Est. Return

State of Michigan Retirement System's Q1 2019 Portfolio in Review

As of Q1 2019, State of Michigan Retirement System held 968 positions worth $12.5B, up 12% from $11.1B the previous quarter. Its ten largest holdings account for 22% of the portfolio.

Trading was light in Q1 2019: portfolio turnover was 4.3%. State of Michigan Retirement System opened 24 new positions and exited 18, leaving the 968-position portfolio largely intact.

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

  • State of Michigan Retirement System's largest Q1 2019 buy was SiriusPoint: 4,200,000 shares worth $43.6M.
  • State of Michigan Retirement System added most to Rithm Capital in Q1 2019, an estimated $49.4M increase.
  • State of Michigan Retirement System's biggest Q1 2019 reduction was Exelon, cutting an estimated $82.5M.
  • State of Michigan Retirement System fully exited Burlington in Q1 2019, selling an estimated $31.2M.
  • State of Michigan Retirement System's ten largest holdings make up 22% of its $12.5B portfolio in Q1 2019.
  • State of Michigan Retirement System opened 24 new positions and closed 18 in Q1 2019.
  • State of Michigan Retirement System's portfolio value rose 12% quarter-over-quarter to $12.5B.

Based on State of Michigan Retirement System's 13F filing for Q1 2019, filed 6 May 2019.