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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
CR icon
676
Crane Co
CR
$12.7B
$1.79M 0.01%
11,672
+200
+2% +$32.1K
ATI icon
677
ATI
ATI
$31.1B
$1.77M 0.01%
+34,100
New +$1.94M
MASI
678
DELISTED
Masimo
MASI
$1.77M 0.01%
10,596
+100
+1% +$17.4K
ZION icon
679
Zions Bancorporation
ZION
$10.3B
$1.77M 0.01%
35,400
+400
+1% +$21.5K
HRB icon
680
H&R Block
HRB
$5.82B
$1.76M 0.01%
32,068
-400
-1% -$21.4K
ENSG icon
681
The Ensign Group
ENSG
$10.7B
$1.76M 0.01%
13,600
+100
+0.7% +$13.2K
EXP icon
682
Eagle Materials
EXP
$6.47B
$1.76M 0.01%
7,929
– –
BEN icon
683
Franklin Resources
BEN
$17B
$1.76M 0.01%
91,395
+300
+0.3% +$6.01K
TTC icon
684
Toro Company
TTC
$9.4B
$1.76M 0.01%
24,132
-200
-0.8% -$15.8K
KD icon
685
Kyndryl
KD
$2.97B
$1.75M 0.01%
55,734
+700
+1% +$26.2K
LSCC icon
686
Lattice Semiconductor
LSCC
$18.2B
$1.73M 0.01%
33,062
+400
+1% +$23.8K
PSNL icon
687
Personalis
PSNL
$1.55B
$1.73M 0.01%
493,798
– –
AXTA icon
688
Axalta
AXTA
$8.01B
$1.73M 0.01%
52,200
+600
+1% +$21.3K
MTZ icon
689
MasTec
MTZ
$21.5B
$1.72M 0.01%
14,739
+200
+1% +$27K
BF.B icon
690
Brown-Forman Class B
BF.B
$12.9B
$1.72M 0.01%
50,681
– –
NFG icon
691
National Fuel Gas
NFG
$7.78B
$1.72M 0.01%
21,712
+100
+0.5% +$7.19K
OLLI icon
692
Ollie's Bargain Outlet
OLLI
$4.8B
$1.71M 0.01%
14,703
+200
+1% +$21.1K
FR icon
693
First Industrial Realty Trust
FR
$8.36B
$1.71M 0.01%
31,668
+300
+1% +$16.2K
UGI icon
694
UGI
UGI
$7.29B
$1.7M 0.01%
51,458
+600
+1% +$19K
EVR icon
695
Evercore
EVR
$11.5B
$1.7M 0.01%
8,505
+100
+1% +$24.9K
FN icon
696
Fabrinet
FN
$18.9B
$1.7M 0.01%
8,600
– –
WH icon
697
Wyndham Hotels & Resorts
WH
$5.29B
$1.69M 0.01%
18,653
+200
+1% +$20.3K
KNX icon
698
Knight Transportation
KNX
$11.2B
$1.68M 0.01%
38,727
-6,904
-15% -$356K
AAL icon
699
American Airlines Group
AAL
$9.93B
$1.66M 0.01%
157,400
+1,800
+1% +$27.1K
CAVA icon
700
CAVA Group
CAVA
$7.17B
$1.66M 0.01%
+19,200
New +$2.08M
26 27
28
29 30

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.