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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
-3.04%
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
$17.3B
AUM Growth
-$1.9B
Cap. Flow
-$1.06B
Cap. Flow %
-6.11%
Top 10 Hldgs %
32.47%
Holding
963
New
12
Increased
395
Reduced
310
Closed
19

Top Buys

Rank Stock Value
1
JPM icon
JPMorgan Chase
JPM
+$35M
2
AVGO icon
Broadcom
AVGO
+$34.7M
3
VRT icon
Vertiv
VRT
+$18.2M
4
XYZ
Block Inc
XYZ
+$17.4M
5
DASH icon
DoorDash
DASH
+$17.3M

Top Sells

Rank Stock Value
1
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$585M
2
CVS icon
CVS Health
CVS
+$190M
3
T icon
AT&T
T
+$153M
4
IJH icon
iShares Core S&P Mid-Cap ETF
IJH
+$43M
5
MSFT icon
Microsoft
MSFT
+$36.3M

Sector Composition

Rank Sector Weight
1 Technology 28.36%
2 Financials 12.46%
3 Healthcare 10.12%
4 Consumer Discretionary 9.98%
5 Communication Services 9.07%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SOLV icon
501
Solventum
SOLV
$14.5B
$3.35M 0.02%
44,076
-100
-0.2% -$7.45K
GLPI icon
502
Gaming and Leisure Properties
GLPI
$12.5B
$3.34M 0.02%
65,700
+700
+1% +$34.4K
WPC icon
503
W.P. Carey
WPC
$16.1B
$3.31M 0.02%
52,400
+600
+1% +$35.5K
CHRW icon
504
C.H. Robinson
CHRW
$17.3B
$3.3M 0.02%
32,192
+100
+0.3% +$10.1K
P
505
Everpure Inc
P
$32.6B
$3.28M 0.02%
74,200
+500
+0.7% +$30.2K
HST icon
506
Host Hotels & Resorts
HST
$15.5B
$3.27M 0.02%
230,029
-100
-0% -$1.62K
REG icon
507
Regency Centers
REG
$13.9B
$3.27M 0.02%
44,304
– –
KMX icon
508
CarMax
KMX
$8.34B
$3.25M 0.02%
41,748
-300
-0.7% -$24.1K
BMRN icon
509
BioMarin Pharmaceuticals
BMRN
$13.3B
$3.22M 0.02%
45,600
+500
+1% +$33.6K
UNM icon
510
Unum
UNM
$14.5B
$3.2M 0.02%
39,300
-500
-1% -$38.5K
JBHT icon
511
JB Hunt Transport Services
JBHT
$25B
$3.19M 0.02%
21,595
– –
ENTG icon
512
Entegris
ENTG
$22B
$3.17M 0.02%
+36,200
New +$3.65M
RGA icon
513
Reinsurance Group of America
RGA
$15.8B
$3.1M 0.02%
15,752
+200
+1% +$41.5K
NLY icon
514
Annaly Capital Management
NLY
$17.3B
$3.09M 0.02%
152,331
+5,700
+4% +$117K
ALLE icon
515
Allegion
ALLE
$14.1B
$3.08M 0.02%
23,628
– –
ERIE icon
516
Erie Indemnity
ERIE
$13.2B
$3.07M 0.02%
7,332
– –
WBA
517
DELISTED
Walgreens Boots Alliance
WBA
$3.07M 0.02%
274,702
+8,000
+3% +$86.8K
THC icon
518
Tenet Healthcare
THC
$20.9B
$3.07M 0.02%
22,793
+300
+1% +$39.5K
ELS icon
519
Equity Lifestyle Properties
ELS
$12.5B
$3.05M 0.02%
45,700
+500
+1% +$33.4K
FLEX icon
520
Flex
FLEX
$44.2B
$3.03M 0.02%
91,700
-100
-0.1% -$3.92K
CNH
521
CNH Industrial
CNH
$16.9B
$3.02M 0.02%
246,000
+2,300
+0.9% +$28.8K
ALGN icon
522
Align Technology
ALGN
$12.5B
$3.02M 0.02%
19,000
– –
XPO icon
523
XPO
XPO
$23.5B
$3.02M 0.02%
28,042
+500
+2% +$63.5K
PAYC icon
524
Paycom
PAYC
$9.62B
$3.01M 0.02%
13,773
-400
-3% -$84.4K
ILMN icon
525
Illumina
ILMN
$29B
$3.01M 0.02%
37,900
+300
+0.8% +$32.5K
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
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
IC
IEQ Capital Foster City, California $21.5B AUM 75.26% 1-Year Est. Return

State of Michigan Retirement System's Q1 2025 Portfolio in Review

As of Q1 2025, State of Michigan Retirement System held 963 positions worth $17.3B, down 9.9% from $19.2B the previous quarter. Its ten largest holdings account for 32% of the portfolio.

State of Michigan Retirement System withdrew a net $1.06B in Q1 2025, closing 19 positions and reducing 310 holdings. Its most notable exit was iShares Biotechnology ETF, an estimated $18.1M position sold in full.

By sector, the portfolio is most concentrated in Technology at 28% of assets, down from 30% a quarter earlier, followed by Financials and Healthcare.

Against the trend, State of Michigan Retirement System opened a new position in DoorDash worth $16.8M.

  • State of Michigan Retirement System's largest Q1 2025 buy was DoorDash: 92,000 shares worth $16.8M.
  • State of Michigan Retirement System added most to JPMorgan Chase in Q1 2025, an estimated $35M increase.
  • State of Michigan Retirement System's biggest Q1 2025 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $585M.
  • State of Michigan Retirement System fully exited iShares Biotechnology ETF in Q1 2025, selling an estimated $18.1M.
  • State of Michigan Retirement System's ten largest holdings make up 32% of its $17.3B portfolio in Q1 2025.
  • State of Michigan Retirement System opened 12 new positions and closed 19 in Q1 2025.
  • State of Michigan Retirement System's portfolio value fell 9.9% quarter-over-quarter to $17.3B.

Based on State of Michigan Retirement System's 13F filing for Q1 2025, filed 30 Apr 2025.