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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
AES icon
576
AES
AES
$10.5B
$2.4M 0.01%
192,895
-10,800
-5% -$125K
LAMR icon
577
Lamar Advertising Co
LAMR
$15.7B
$2.39M 0.01%
21,038
+200
+1% +$24.4K
CLH icon
578
Clean Harbors
CLH
$16.5B
$2.39M 0.01%
12,107
+100
+0.8% +$21.9K
RL icon
579
Ralph Lauren
RL
$23.8B
$2.38M 0.01%
10,780
-100
-0.9% -$24.8K
ATR icon
580
AptarGroup
ATR
$8.54B
$2.36M 0.01%
15,910
+200
+1% +$30.1K
DTM icon
581
DT Midstream
DTM
$13.9B
$2.34M 0.01%
24,255
+1,200
+5% +$120K
MOS icon
582
The Mosaic Company
MOS
$7.41B
$2.33M 0.01%
86,208
-17,668
-17% -$467K
HSIC icon
583
Henry Schein
HSIC
$9.91B
$2.31M 0.01%
33,788
-100
-0.3% -$7.38K
CUBE icon
584
CubeSmart
CUBE
$9.22B
$2.31M 0.01%
54,100
+500
+0.9% +$20.9K
SF
585
Stifel
SF
$12.8B
$2.31M 0.01%
36,731
+300
+0.8% +$21.1K
RRC icon
586
Range Resources
RRC
$9.5B
$2.31M 0.01%
57,786
+600
+1% +$23.1K
ALB icon
587
Albemarle
ALB
$15.3B
$2.3M 0.01%
31,907
– –
BRBR icon
588
BellRing Brands
BRBR
$1.34B
$2.29M 0.01%
30,745
+100
+0.3% +$7.34K
PRI icon
589
Primerica
PRI
$9.67B
$2.28M 0.01%
8,019
+100
+1% +$28.5K
X
590
DELISTED
US Steel
X
$2.28M 0.01%
53,899
+600
+1% +$22.7K
NCLH icon
591
Norwegian Cruise Line
NCLH
$8.55B
$2.26M 0.01%
119,279
-100
-0.1% -$2.41K
FOX icon
592
Fox Class B
FOX
$23.2B
$2.24M 0.01%
42,431
– –
SAIA icon
593
Saia
SAIA
$9.5B
$2.23M 0.01%
6,386
+100
+2% +$43.5K
ENPH icon
594
Enphase Energy
ENPH
$5.53B
$2.23M 0.01%
35,915
-800
-2% -$50.6K
CHE icon
595
Chemed
CHE
$7.11B
$2.22M 0.01%
3,609
+100
+3% +$56.8K
AOS icon
596
A.O. Smith
AOS
$8.62B
$2.21M 0.01%
33,833
-300
-0.9% -$20.3K
OGE icon
597
OGE Energy
OGE
$9.58B
$2.21M 0.01%
48,114
+500
+1% +$21.8K
MKTX icon
598
MarketAxess Holdings
MKTX
$5.72B
$2.21M 0.01%
10,193
-628
-6% -$132K
CG icon
599
Carlyle Group
CG
$17.6B
$2.2M 0.01%
50,500
+500
+1% +$24.8K
CNM icon
600
Core & Main
CNM
$8.74B
$2.2M 0.01%
45,500
-100
-0.2% -$5.18K
22 23
24
25 26

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
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
OAG
Orbis Allan Gray Hamilton, Bermuda $23.7B AUM 65.43% 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.