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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
BIDU icon
651
Baidu
BIDU
$37.2B
$1.45M 0.01%
9,150
+1,208
+15% +$225K
SWX icon
652
Southwest Gas
SWX
$6.67B
$1.45M 0.01%
18,900
+700
+4% +$56.2K
PACW
653
DELISTED
PacWest Bancorp
PACW
$1.44M 0.01%
43,400
-1,900
-4% -$75.7K
WSM icon
654
Williams-Sonoma
WSM
$29.6B
$1.44M 0.01%
57,200
-2,400
-4% -$68.6K
NJR icon
655
New Jersey Resources
NJR
$5.58B
$1.44M 0.01%
31,500
-1,100
-3% -$51.9K
KMPR icon
656
Kemper
KMPR
$1.68B
$1.44M 0.01%
21,650
-900
-4% -$65.6K
BC icon
657
Brunswick
BC
$5.28B
$1.44M 0.01%
30,900
-1,200
-4% -$64.2K
AVT icon
658
Avnet
AVT
$7.92B
$1.43M 0.01%
39,640
-3,200
-7% -$131K
HIW icon
659
Highwoods Properties
HIW
$3.47B
$1.43M 0.01%
36,900
-1,400
-4% -$60.6K
MAN icon
660
ManpowerGroup
MAN
$2.63B
$1.43M 0.01%
22,030
-2,000
-8% -$152K
FLS icon
661
Flowserve
FLS
$10.2B
$1.43M 0.01%
37,475
-1,500
-4% -$70.2K
SIX
662
DELISTED
Six Flags Entertainment Corp.
SIX
$1.42M 0.01%
25,600
-800
-3% -$47.8K
HE icon
663
Hawaiian Electric Industries
HE
$2.14B
$1.42M 0.01%
38,840
-1,400
-3% -$51.9K
TXRH icon
664
Texas Roadhouse
TXRH
$13.7B
$1.42M 0.01%
23,700
-900
-4% -$57.8K
OLED icon
665
Universal Display
OLED
$4.19B
$1.41M 0.01%
+15,100
New +$1.52M
LSTR icon
666
Landstar System
LSTR
$6.21B
$1.41M 0.01%
14,700
-500
-3% -$51.6K
SVC
667
Service Properties Trust
SVC
$1.07B
$1.4M 0.01%
11,720
-440
-4% -$57.5K
JEF icon
668
Jefferies Financial Group
JEF
$13.1B
$1.4M 0.01%
89,868
-6,703
-7% -$123K
ALE
669
DELISTED
Allete
ALE
$1.4M 0.01%
18,300
-700
-4% -$54.2K
PBF icon
670
PBF Energy
PBF
$7.31B
$1.4M 0.01%
42,700
-1,600
-4% -$64.6K
PRGO icon
671
Perrigo
PRGO
$1.78B
$1.39M 0.01%
35,822
-1,700
-5% -$108K
CBRL icon
672
Cracker Barrel
CBRL
$1.29B
$1.38M 0.01%
8,600
-300
-3% -$49.3K
GT icon
673
Goodyear
GT
$1.85B
$1.36M 0.01%
66,716
-3,900
-6% -$84.5K
CNK icon
674
Cinemark Holdings
CNK
$4.32B
$1.36M 0.01%
37,900
-1,400
-4% -$55.3K
MUR icon
675
Murphy Oil
MUR
$4.78B
$1.36M 0.01%
58,000
-2,200
-4% -$67.4K
25 26
27
28 29

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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.