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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
+9.1%
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
$16.2B
AUM Growth
+$993M
Cap. Flow
-$130M
Cap. Flow %
-0.8%
Top 10 Hldgs %
33.54%
Holding
990
New
22
Increased
267
Reduced
593
Closed
21

Top Buys

Rank Stock Value
1
NVDA icon
NVIDIA
NVDA
+$34.8M
2
TLT icon
iShares 20+ Year Treasury Bond ETF
TLT
+$31.1M
3
MBB icon
iShares MBS ETF
MBB
+$29.6M
4
MSFT icon
Microsoft
MSFT
+$28.5M
5
T icon
AT&T
T
+$20.2M

Top Sells

Rank Stock Value
1
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$60.3M
2
GLOB icon
Globant
GLOB
+$33.7M
3
EXAS
Exact Sciences
EXAS
+$31.6M
4
ANET icon
Arista Networks
ANET
+$31.2M
5
QUAL icon
iShares MSCI USA Quality Factor ETF
QUAL
+$27.3M

Sector Composition

Rank Sector Weight
1 Technology 24.5%
2 Financials 11.19%
3 Healthcare 10.98%
4 Communication Services 8.9%
5 Consumer Discretionary 8.6%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HD icon
26
Home Depot
HD
$355B
$98M 0.6%
315,484
-61,300
-16% -$18.1M
TDOC icon
27
Teladoc Health
TDOC
$1.3B
$97.1M 0.6%
3,833,000
– –
OMF icon
28
OneMain Financial
OMF
$7.47B
$94.8M 0.59%
2,170,000
– –
PEP icon
29
PepsiCo
PEP
$190B
$93.3M 0.58%
503,622
+25,400
+5% +$4.74M
AMD icon
30
Advanced Micro Devices
AMD
$789B
$85.6M 0.53%
751,240
-84,900
-10% -$8.83M
TMO icon
31
Thermo Fisher Scientific
TMO
$220B
$84.6M 0.52%
162,110
-1,600
-1% -$863K
MRK icon
32
Merck
MRK
$318B
$84.1M 0.52%
729,190
-1,800
-0.2% -$204K
RITM icon
33
Rithm Capital
RITM
$5.69B
$78.6M 0.49%
8,404,734
– –
ISRG icon
34
Intuitive Surgical
ISRG
$134B
$78.4M 0.48%
229,253
+100
+0% +$30.3K
BMY icon
35
Bristol-Myers Squibb
BMY
$132B
$76.7M 0.47%
1,199,733
-19,200
-2% -$1.29M
CVX icon
36
Chevron
CVX
$366B
$75.4M 0.47%
479,215
-9,300
-2% -$1.49M
PANW icon
37
Palo Alto Networks
PANW
$297B
$75.1M 0.46%
587,720
+72,800
+14% +$7.58M
CSCO icon
38
Cisco
CSCO
$479B
$72.8M 0.45%
1,406,966
+39,300
+3% +$1.93M
INTU icon
39
Intuit
INTU
$89B
$72.4M 0.45%
158,090
– –
COST icon
40
Costco
COST
$420B
$69.6M 0.43%
129,369
-10,900
-8% -$5.52M
KO icon
41
Coca-Cola
KO
$375B
$68.3M 0.42%
1,133,548
-9,500
-0.8% -$591K
ABBV icon
42
AbbVie
ABBV
$435B
$67.7M 0.42%
502,808
-13,224
-3% -$1.94M
TDG icon
43
TransDigm Group
TDG
$67.7B
$67.4M 0.42%
75,392
-5,900
-7% -$4.67M
PFE icon
44
Pfizer
PFE
$153B
$66.7M 0.41%
1,819,484
+47,900
+3% +$1.86M
ADBE icon
45
Adobe
ADBE
$105B
$65.6M 0.41%
134,223
+1,400
+1% +$564K
WMT icon
46
Walmart Inc
WMT
$890B
$60.6M 0.37%
1,156,920
+1,500
+0.1% +$75.7K
BRK.A icon
47
Berkshire Hathaway Class A
BRK.A
$1.12T
$60.1M 0.37%
116
– –
MCD icon
48
McDonald's
MCD
$195B
$59.9M 0.37%
200,715
-400
-0.2% -$116K
MSCI icon
49
MSCI
MSCI
$40.9B
$59.3M 0.37%
126,402
– –
FTNT icon
50
Fortinet
FTNT
$117B
$57.4M 0.35%
759,170
+1,100
+0.1% +$74.8K
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 2023 Portfolio in Review

As of Q2 2023, State of Michigan Retirement System held 990 positions worth $16.2B, up 6.5% from $15.2B the previous quarter. Its ten largest holdings account for 34% of the portfolio.

Trading was light in Q2 2023: portfolio turnover was 4.3%. State of Michigan Retirement System opened 22 new positions and exited 21, leaving the 990-position portfolio largely intact.

By sector, the portfolio is most concentrated in Technology at 25% of assets, up from 23% a quarter earlier, followed by Financials and Healthcare.

  • State of Michigan Retirement System's largest Q2 2023 buy was iShares 20+ Year Treasury Bond ETF: 300,000 shares worth $30.9M.
  • State of Michigan Retirement System added most to NVIDIA in Q2 2023, an estimated $34.8M increase.
  • State of Michigan Retirement System's biggest Q2 2023 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $60.3M.
  • State of Michigan Retirement System fully exited Globant in Q2 2023, selling an estimated $33.7M.
  • State of Michigan Retirement System's ten largest holdings make up 34% of its $16.2B portfolio in Q2 2023.
  • State of Michigan Retirement System opened 22 new positions and closed 21 in Q2 2023.
  • State of Michigan Retirement System's portfolio value rose 6.5% quarter-over-quarter to $16.2B.

Based on State of Michigan Retirement System's 13F filing for Q2 2023, filed 26 Jul 2023.