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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
+0.37%
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
$17.6B
AUM Growth
+$549M
Cap. Flow
+$643M
Cap. Flow %
3.66%
Top 10 Hldgs %
33.38%
Holding
997
New
28
Increased
217
Reduced
551
Closed
22

Top Buys

Rank Stock Value
1
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$1.5B
2
VLUE icon
iShares MSCI USA Value Factor ETF
VLUE
+$178M
3
QUAL icon
iShares MSCI USA Quality Factor ETF
QUAL
+$175M
4
MTUM icon
iShares MSCI USA Momentum Factor ETF
MTUM
+$162M
5
BMY icon
Bristol-Myers Squibb
BMY
+$92.6M

Top Sells

Rank Stock Value
1
AAPL icon
Apple
AAPL
+$110M
2
MSFT icon
Microsoft
MSFT
+$76.9M
3
MS icon
Morgan Stanley
MS
+$66.1M
4
SPG icon
Simon Property Group
SPG
+$65.1M
5
CSCO icon
Cisco
CSCO
+$61M

Sector Composition

Rank Sector Weight
1 Technology 19.41%
2 Healthcare 11.8%
3 Financials 11.02%
4 Communication Services 9.45%
5 Consumer Discretionary 8.27%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HD icon
26
Home Depot
HD
$355B
$125M 0.71%
381,956
-105,600
-22% -$34.7M
JPM icon
27
JPMorgan Chase
JPM
$950B
$123M 0.7%
750,343
-10,600
-1% -$1.66M
CVS icon
28
CVS Health
CVS
$122B
$116M 0.66%
1,372,763
-444,300
-24% -$37.2M
JNJ icon
29
Johnson & Johnson
JNJ
$625B
$110M 0.63%
682,087
-282,300
-29% -$48.2M
ACN icon
30
Accenture
ACN
$108B
$104M 0.59%
325,053
-60,300
-16% -$19.6M
VST icon
31
Vistra
VST
$47.4B
$101M 0.58%
5,935,300
– –
MA icon
32
Mastercard
MA
$493B
$99.6M 0.57%
286,364
-21,100
-7% -$7.67M
FTAI icon
33
FTAI Aviation
FTAI
$22.2B
$95.9M 0.55%
4,422,777
– –
BRK.B icon
34
Berkshire Hathaway Class B
BRK.B
$1.13T
$94.3M 0.54%
345,662
-11,400
-3% -$3.2M
RITM icon
35
Rithm Capital
RITM
$5.69B
$92.5M 0.53%
8,404,734
– –
TMO icon
36
Thermo Fisher Scientific
TMO
$220B
$90.7M 0.52%
158,818
– –
EPAM icon
37
EPAM Systems
EPAM
$5.03B
$87.8M 0.5%
153,900
-37,600
-20% -$22.1M
PG icon
38
Procter & Gamble
PG
$339B
$85.2M 0.48%
609,496
-408,300
-40% -$57.9M
MSCI icon
39
MSCI
MSCI
$40.9B
$85M 0.48%
139,756
+11,900
+9% +$7.27M
ARI
40
Apollo Commercial Real Estate
ARI
$885M
$81M 0.46%
5,459,968
– –
GILD icon
41
Gilead Sciences
GILD
$165B
$79M 0.45%
1,131,360
-465,500
-29% -$32.7M
BAC icon
42
Bank of America
BAC
$442B
$78.9M 0.45%
1,859,402
-36,300
-2% -$1.46M
DIS icon
43
Walt Disney
DIS
$181B
$77.2M 0.44%
456,248
-500
-0.1% -$89.1K
EMB icon
44
iShares JPMorgan USD Emerging Markets Bond ETF
EMB
$15B
$74.1M 0.42%
673,200
– –
ALGN icon
45
Align Technology
ALGN
$12.3B
$73.7M 0.42%
110,762
+400
+0.4% +$272K
INTU icon
46
Intuit
INTU
$89B
$68.5M 0.39%
126,948
+13,400
+12% +$7.22M
AMD icon
47
Advanced Micro Devices
AMD
$789B
$68.3M 0.39%
663,979
-5,900
-0.9% -$603K
NFLX icon
48
Netflix
NFLX
$309B
$67.8M 0.39%
1,111,070
-180,810
-14% -$9.95M
WFC icon
49
Wells Fargo
WFC
$264B
$65.9M 0.37%
1,420,216
-8,000
-0.6% -$370K
CMCSA icon
50
Comcast
CMCSA
$90B
$64.3M 0.37%
1,150,046
-2,500
-0.2% -$146K
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 Q3 2021 Portfolio in Review

As of Q3 2021, State of Michigan Retirement System held 997 positions worth $17.6B, up 3.2% from $17B the previous quarter. Its ten largest holdings account for 33% of the portfolio.

State of Michigan Retirement System deployed $643M of net new capital in Q3 2021, opening 28 new positions and adding to 217 existing holdings. Its largest new stake was Moderna: 88,200 shares worth $33.9M.

By sector, the portfolio is most concentrated in Technology at 19% of assets, down from 23% a quarter earlier, followed by Healthcare and Financials.

On the sell side, the largest reduction was Apple, an estimated $110M trimmed.

  • State of Michigan Retirement System's largest Q3 2021 buy was Moderna: 88,200 shares worth $33.9M.
  • State of Michigan Retirement System added most to State Street SPDR S&P 500 ETF Trust in Q3 2021, an estimated $1.5B increase.
  • State of Michigan Retirement System's biggest Q3 2021 reduction was Apple, cutting an estimated $110M.
  • State of Michigan Retirement System fully exited Progress Software in Q3 2021, selling an estimated $27M.
  • State of Michigan Retirement System's ten largest holdings make up 33% of its $17.6B portfolio in Q3 2021.
  • State of Michigan Retirement System opened 28 new positions and closed 22 in Q3 2021.
  • State of Michigan Retirement System's portfolio value rose 3.2% quarter-over-quarter to $17.6B.

Based on State of Michigan Retirement System's 13F filing for Q3 2021, filed 27 Oct 2021.