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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
+22.37%
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
$11.4B
AUM Growth
+$2.34B
Cap. Flow
+$480M
Cap. Flow %
4.21%
Top 10 Hldgs %
24.68%
Holding
969
New
26
Increased
830
Reduced
54
Closed
38

Top Buys

Rank Stock Value
1
LQD icon
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
+$178M
2
AGG icon
iShares Core US Aggregate Bond ETF
AGG
+$152M
3
CVS icon
CVS Health
CVS
+$102M
4
RTX icon
RTX Corp
RTX
+$61.1M
5
ETRN
Equitrans Midstream Corporation Common Stock
ETRN
+$51M

Top Sells

Rank Stock Value
1
AGNC icon
AGNC Investment
AGNC
+$197M
2
EXC icon
Exelon
EXC
+$92.1M
3
META icon
Meta Platforms (Facebook)
META
+$85.5M
4
GIS icon
General Mills
GIS
+$45.5M
5
RTN
Raytheon Company
RTN
+$39.1M

Sector Composition

Rank Sector Weight
1 Technology 22.75%
2 Healthcare 13.43%
3 Financials 13.35%
4 Consumer Discretionary 8.62%
5 Communication Services 8.42%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CMCSA icon
26
Comcast
CMCSA
$90B
$88.6M 0.78%
2,272,646
+122,624
+6% +$4.67M
VZ icon
27
Verizon
VZ
$196B
$85.4M 0.75%
1,548,535
+245,436
+19% +$13.8M
USB icon
28
US Bancorp
USB
$99.6B
$77.9M 0.68%
2,115,199
+24,257
+1% +$864K
SYK icon
29
Stryker
SYK
$130B
$77.1M 0.68%
427,827
-21,469
-5% -$3.96M
ABBV icon
30
AbbVie
ABBV
$435B
$72.3M 0.63%
736,850
-71,953
-9% -$6.34M
ORCL icon
31
Oracle
ORCL
$423B
$70.4M 0.62%
1,273,328
+176,668
+16% +$9.36M
ACN icon
32
Accenture
ACN
$108B
$69.3M 0.61%
322,553
-70,433
-18% -$13.3M
AMGN icon
33
Amgen
AMGN
$222B
$67.2M 0.59%
285,082
+14,088
+5% +$3.21M
PYPL icon
34
PayPal
PYPL
$50.5B
$65.8M 0.58%
377,920
+30,786
+9% +$4.25M
LMT icon
35
Lockheed Martin
LMT
$136B
$65.7M 0.58%
179,990
+6,071
+3% +$2.29M
PM icon
36
Philip Morris
PM
$295B
$65.6M 0.58%
936,651
+40,986
+5% +$2.99M
PINS icon
37
Pinterest
PINS
$13.4B
$64.7M 0.57%
2,917,655
+251,086
+9% +$4.9M
IBM icon
38
IBM
IBM
$224B
$63.6M 0.56%
550,952
+338,628
+159% +$39.3M
MRK icon
39
Merck
MRK
$318B
$63M 0.55%
853,614
+241,950
+40% +$18.2M
RITM icon
40
Rithm Capital
RITM
$5.69B
$62.4M 0.55%
8,404,734
– –
RTX icon
41
RTX Corp
RTX
$301B
$60.4M 0.53%
+979,585
New +$61.1M
WFC icon
42
Wells Fargo
WFC
$264B
$59.7M 0.52%
2,332,816
+70,686
+3% +$1.93M
NVDA icon
43
NVIDIA
NVDA
$5.42T
$59.7M 0.52%
6,282,840
+651,160
+12% +$5.27M
GPN icon
44
Global Payments
GPN
$22.8B
$58.7M 0.51%
346,180
+7,444
+2% +$1.24M
AGNC icon
45
AGNC Investment
AGNC
$12.9B
$58.4M 0.51%
4,530,000
-15,702,030
-78% -$197M
T icon
46
AT&T
T
$163B
$55M 0.48%
2,409,297
+192,217
+9% +$4.38M
ZTS icon
47
Zoetis
ZTS
$30B
$55M 0.48%
401,342
-147,850
-27% -$19.3M
ETRN
48
DELISTED
Equitrans Midstream Corporation Common Stock
ETRN
$54.4M 0.48%
6,540,755
+6,483,519
+11,328% +$51M
QCOM icon
49
Qualcomm
QCOM
$176B
$53.6M 0.47%
587,274
+325,503
+124% +$26.1M
ARI
50
Apollo Commercial Real Estate
ARI
$885M
$53.6M 0.47%
5,459,968
– –
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 Q2 2020 Portfolio in Review

As of Q2 2020, State of Michigan Retirement System held 969 positions worth $11.4B, up 26% from $9.07B the previous quarter. Its ten largest holdings account for 25% of the portfolio.

State of Michigan Retirement System deployed $480M of net new capital in Q2 2020, opening 26 new positions and adding to 830 existing holdings. Its largest new stake was iShares iBoxx $ Investment Grade Corporate Bond ETF: 1,366,000 shares worth $184M.

By sector, the portfolio is most concentrated in Technology at 23% of assets, up from 20% a quarter earlier, followed by Healthcare and Financials.

On the sell side, the largest reduction was AGNC Investment, an estimated $197M trimmed.

  • State of Michigan Retirement System's largest Q2 2020 buy was iShares iBoxx $ Investment Grade Corporate Bond ETF: 1,366,000 shares worth $184M.
  • State of Michigan Retirement System added most to iShares Core US Aggregate Bond ETF in Q2 2020, an estimated $152M increase.
  • State of Michigan Retirement System's biggest Q2 2020 reduction was AGNC Investment, cutting an estimated $197M.
  • State of Michigan Retirement System fully exited Raytheon Company in Q2 2020, selling an estimated $39.1M.
  • State of Michigan Retirement System's ten largest holdings make up 25% of its $11.4B portfolio in Q2 2020.
  • State of Michigan Retirement System opened 26 new positions and closed 38 in Q2 2020.
  • State of Michigan Retirement System's portfolio value rose 26% quarter-over-quarter to $11.4B.

Based on State of Michigan Retirement System's 13F filing for Q2 2020, filed 29 Jul 2020.