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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
WST icon
476
West Pharmaceutical
WST
$24.9B
$2.59M 0.02%
26,400
-800
-3% -$86.8K
MOH icon
477
Molina Healthcare
MOH
$10.3B
$2.58M 0.02%
22,200
-600
-3% -$78.6K
NBL
478
DELISTED
Noble Energy, Inc.
NBL
$2.58M 0.02%
137,361
-6,600
-5% -$169K
TYL icon
479
Tyler Technologies
TYL
$12.8B
$2.56M 0.02%
13,800
-500
-3% -$98.8K
MAS icon
480
Masco
MAS
$15.3B
$2.56M 0.02%
87,504
-4,100
-4% -$127K
WRB icon
481
W.R. Berkley
WRB
$26.6B
$2.54M 0.02%
115,948
-4,050
-3% -$91K
BEN icon
482
Franklin Resources
BEN
$17.2B
$2.53M 0.02%
85,160
-5,900
-6% -$181K
OHI icon
483
Omega Healthcare
OHI
$14.7B
$2.51M 0.02%
71,500
-2,600
-4% -$90.2K
TIF
484
DELISTED
Tiffany & Co.
TIF
$2.5M 0.02%
31,034
-1,400
-4% -$143K
FRT icon
485
Federal Realty Investment Trust
FRT
$10.3B
$2.49M 0.02%
21,116
-800
-4% -$100K
GGG icon
486
Graco
GGG
$13.5B
$2.48M 0.02%
59,300
-2,500
-4% -$105K
STLD icon
487
Steel Dynamics
STLD
$37.6B
$2.46M 0.02%
81,800
-5,000
-6% -$189K
LYV icon
488
Live Nation Entertainment
LYV
$42.1B
$2.43M 0.02%
49,300
-1,700
-3% -$89.8K
DISCK
489
DELISTED
Discovery, Inc. Series C Common Stock
DISCK
$2.38M 0.02%
103,146
-4,000
-4% -$111K
URI icon
490
United Rentals
URI
$72.4B
$2.38M 0.02%
23,200
-1,500
-6% -$181K
CGNX icon
491
Cognex
CGNX
$11.3B
$2.37M 0.02%
61,400
-2,200
-3% -$95.4K
NLSN
492
DELISTED
Nielsen Holdings plc
NLSN
$2.37M 0.02%
101,644
-878,700
-90% -$22.8M
XRAY icon
493
Dentsply Sirona
XRAY
$2.43B
$2.37M 0.02%
63,666
-2,600
-4% -$94.6K
ALB icon
494
Albemarle
ALB
$15.5B
$2.35M 0.02%
30,440
-1,900
-6% -$179K
HII icon
495
Huntington Ingalls Industries
HII
$12.8B
$2.34M 0.02%
12,300
-600
-5% -$131K
DINO icon
496
HF Sinclair
DINO
$14.5B
$2.33M 0.02%
45,600
-2,700
-6% -$165K
JBHT icon
497
JB Hunt Transport Services
JBHT
$25.2B
$2.32M 0.02%
24,976
-1,100
-4% -$117K
SNA icon
498
Snap-on
SNA
$21.5B
$2.31M 0.02%
15,935
-900
-5% -$142K
BRO icon
499
Brown & Brown
BRO
$23.9B
$2.3M 0.02%
83,600
-2,100
-2% -$59.4K
INGR icon
500
Ingredion
INGR
$6.58B
$2.3M 0.02%
25,200
-1,100
-4% -$110K
18 19
20
21 22

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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 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.