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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
EHC icon
501
Encompass Health
EHC
$12.4B
$2.24M 0.02%
45,539
+11,223
+33% +$606K
AXON
502
Axon Enterprise
AXON
$48.1B
$2.24M 0.02%
22,819
+6,319
+38% +$511K
UAL icon
503
United Airlines
UAL
$40.5B
$2.23M 0.02%
64,512
+14,568
+29% +$437K
NI icon
504
NiSource
NI
$20.1B
$2.22M 0.02%
97,806
+12,204
+14% +$294K
NNN icon
505
NNN REIT
NNN
$8.81B
$2.22M 0.02%
62,583
+14,983
+31% +$490K
KNTK icon
506
Kinetik
KNTK
$8.24B
$2.22M 0.02%
350,000
– –
LITE icon
507
Lumentum
LITE
$64.2B
$2.22M 0.02%
27,234
+5,834
+27% +$444K
OGE icon
508
OGE Energy
OGE
$9.59B
$2.21M 0.02%
72,871
+17,351
+31% +$536K
NYT icon
509
New York Times
NYT
$10.4B
$2.21M 0.02%
52,521
+12,621
+32% +$459K
RCL icon
510
Royal Caribbean
RCL
$82.4B
$2.21M 0.02%
43,880
+4,508
+11% +$204K
RS icon
511
Reliance Steel & Aluminium
RS
$21.8B
$2.2M 0.02%
23,182
+4,682
+25% +$427K
OC icon
512
Owens Corning
OC
$12.2B
$2.19M 0.02%
39,285
+9,085
+30% +$424K
PHM icon
513
Pultegroup
PHM
$24.6B
$2.19M 0.02%
64,375
+5,966
+10% +$179K
ACM icon
514
Aecom
ACM
$9.55B
$2.19M 0.02%
58,252
+14,752
+34% +$528K
MANH icon
515
Manhattan Associates
MANH
$11.5B
$2.18M 0.02%
23,097
+5,397
+30% +$402K
CBSH icon
516
Commerce Bancshares
CBSH
$8.45B
$2.17M 0.02%
48,974
+10,462
+27% +$460K
FFIV icon
517
F5
FFIV
$23.4B
$2.17M 0.02%
15,538
+1,666
+12% +$224K
FIVE icon
518
Five Below
FIVE
$13.2B
$2.16M 0.02%
20,240
+4,740
+31% +$444K
LEA icon
519
Lear
LEA
$8.07B
$2.16M 0.02%
19,840
+4,540
+30% +$452K
PEN icon
520
Penumbra
PEN
$12.9B
$2.15M 0.02%
12,051
+3,051
+34% +$530K
THO icon
521
Thor Industries
THO
$4.13B
$2.15M 0.02%
20,135
+4,835
+32% +$378K
CPB icon
522
Campbell Soup
CPB
$6.72B
$2.14M 0.02%
43,171
+4,412
+11% +$219K
RJF icon
523
Raymond James Financial
RJF
$34.4B
$2.14M 0.02%
46,703
+4,253
+10% +$192K
DCI icon
524
Donaldson
DCI
$11.2B
$2.14M 0.02%
45,921
+10,801
+31% +$478K
HSIC icon
525
Henry Schein
HSIC
$9.83B
$2.13M 0.02%
36,467
+2,823
+8% +$158K
19 20
21
22 23

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
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
CHP
Castle Hook Partners New York $23.4B AUM 158.96% 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.