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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
+5.02%
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
$12.4B
AUM Growth
-$886M
Cap. Flow
-$1.43B
Cap. Flow %
-11.61%
Top 10 Hldgs %
23.49%
Holding
969
New
21
Increased
50
Reduced
850
Closed
25

Top Buys

Rank Stock Value
1
AGNC icon
AGNC Investment
AGNC
+$128M
2
ALLY icon
Ally Financial
ALLY
+$52.1M
3
MCHP icon
Microchip Technology
MCHP
+$29.8M
4
DGX icon
Quest Diagnostics
DGX
+$28.6M
5
CVS icon
CVS Health
CVS
+$26.6M

Top Sells

Rank Stock Value
1
JPM icon
JPMorgan Chase
JPM
+$200M
2
AAPL icon
Apple
AAPL
+$187M
3
WTW icon
Willis Towers Watson
WTW
+$147M
4
GILD icon
Gilead Sciences
GILD
+$84.4M
5
BRK.B icon
Berkshire Hathaway Class B
BRK.B
+$60.2M

Sector Composition

Rank Sector Weight
1 Financials 19.42%
2 Technology 14.12%
3 Healthcare 14.08%
4 Communication Services 10.65%
5 Industrials 8.2%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MON
51
DELISTED
Monsanto Co
MON
$55.8M 0.45%
465,363
-10,900
-2% -$1.28M
MRK icon
52
Merck
MRK
$317B
$55.6M 0.45%
910,763
-265,564
-23% -$16.1M
RTX icon
53
RTX Corp
RTX
$301B
$54.9M 0.44%
751,761
-30,985
-4% -$2.29M
ARI
54
Apollo Commercial Real Estate
ARI
$876M
$54M 0.44%
2,980,768
– –
ACN icon
55
Accenture
ACN
$105B
$53.6M 0.43%
396,886
+69,200
+21% +$9.02M
KO icon
56
Coca-Cola
KO
$374B
$52.4M 0.42%
1,164,838
-98,900
-8% -$4.5M
SYK icon
57
Stryker
SYK
$129B
$52.2M 0.42%
367,596
+40,600
+12% +$5.82M
ALXN
58
DELISTED
Alexion Pharmaceuticals
ALXN
$51.6M 0.42%
367,678
-6,100
-2% -$829K
CSCO icon
59
Cisco
CSCO
$476B
$51M 0.41%
1,517,291
-126,000
-8% -$4.01M
BKNG icon
60
Booking.com
BKNG
$156B
$50.6M 0.41%
690,625
-30,000
-4% -$2.28M
DD icon
61
DuPont de Nemours
DD
$19.5B
$49M 0.4%
279,589
+133,729
+92% +$22.3M
BMY icon
62
Bristol-Myers Squibb
BMY
$131B
$48.7M 0.39%
764,317
-43,800
-5% -$2.56M
PEP icon
63
PepsiCo
PEP
$189B
$48.3M 0.39%
433,529
-35,900
-8% -$4.15M
GD icon
64
General Dynamics
GD
$105B
$47.6M 0.39%
231,727
-8,700
-4% -$1.74M
ORCL icon
65
Oracle
ORCL
$413B
$44.3M 0.36%
916,360
-644,600
-41% -$32.1M
NOC icon
66
Northrop Grumman
NOC
$80.7B
$43.4M 0.35%
150,917
+93,500
+163% +$25.2M
TWX
67
DELISTED
Time Warner Inc
TWX
$43.3M 0.35%
422,827
-111,700
-21% -$11.3M
ABT icon
68
Abbott
ABT
$187B
$42.1M 0.34%
788,543
-84,500
-10% -$4.24M
TXN icon
69
Texas Instruments
TXN
$254B
$41.4M 0.34%
461,718
-27,000
-6% -$2.22M
AMGN icon
70
Amgen
AMGN
$219B
$41.3M 0.33%
221,394
-20,500
-8% -$3.63M
MA icon
71
Mastercard
MA
$505B
$40M 0.32%
283,328
-151,300
-35% -$20M
ILMN icon
72
Illumina
ILMN
$29.3B
$39.5M 0.32%
203,811
-60,344
-23% -$11.2M
MCHP icon
73
Microchip Technology
MCHP
$40.4B
$38.7M 0.31%
861,144
+710,400
+471% +$29.8M
VLO icon
74
Valero Energy
VLO
$87.2B
$38.6M 0.31%
501,176
-13,000
-3% -$895K
MCD icon
75
McDonald's
MCD
$196B
$38.5M 0.31%
245,757
-22,100
-8% -$3.46M
1 2
3
4 5

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
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 Q3 2017 Portfolio in Review

As of Q3 2017, State of Michigan Retirement System held 969 positions worth $12.4B, down 6.7% from $13.2B the previous quarter. Its ten largest holdings account for 23% of the portfolio.

State of Michigan Retirement System withdrew a net $1.43B in Q3 2017, closing 25 positions and reducing 850 holdings. Its most notable exit was Reynolds American Inc, an estimated $36.2M position sold in full.

By sector, the portfolio is most concentrated in Financials at 19% of assets, down from 21% a quarter earlier, followed by Technology and Healthcare.

Against the trend, State of Michigan Retirement System opened a new position in British American Tobacco worth $24.6M.

  • State of Michigan Retirement System's largest Q3 2017 buy was British American Tobacco: 393,715 shares worth $24.6M.
  • State of Michigan Retirement System added most to AGNC Investment in Q3 2017, an estimated $128M increase.
  • State of Michigan Retirement System's biggest Q3 2017 reduction was JPMorgan Chase, cutting an estimated $200M.
  • State of Michigan Retirement System fully exited Reynolds American Inc in Q3 2017, selling an estimated $36.2M.
  • State of Michigan Retirement System's ten largest holdings make up 23% of its $12.4B portfolio in Q3 2017.
  • State of Michigan Retirement System opened 21 new positions and closed 25 in Q3 2017.
  • State of Michigan Retirement System's portfolio value fell 6.7% quarter-over-quarter to $12.4B.

Based on State of Michigan Retirement System's 13F filing for Q3 2017, filed 19 Oct 2017.