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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
+3.97%
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
$19.2B
AUM Growth
-$930M
Cap. Flow
-$1.27B
Cap. Flow %
-6.6%
Top 10 Hldgs %
36.92%
Holding
967
New
17
Increased
176
Reduced
601
Closed
16

Top Buys

Rank Stock Value
1
CI icon
Cigna
CI
+$47.8M
2
HUBS icon
HubSpot
HUBS
+$32M
3
XYZ
Block Inc
XYZ
+$24.7M
4
AMZN icon
Amazon
AMZN
+$20.7M
5
CVS icon
CVS Health
CVS
+$19.9M

Top Sells

Rank Stock Value
1
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$594M
2
AGG icon
iShares Core US Aggregate Bond ETF
AGG
+$419M
3
T icon
AT&T
T
+$261M
4
MSFT icon
Microsoft
MSFT
+$42.8M
5
NVDA icon
NVIDIA
NVDA
+$35.2M

Sector Composition

Rank Sector Weight
1 Technology 29.57%
2 Financials 10.76%
3 Consumer Discretionary 10.46%
4 Healthcare 9.52%
5 Communication Services 9.33%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CMG icon
51
Chipotle Mexican Grill
CMG
$41.5B
$59.4M 0.31%
984,700
-43,300
-4% -$2.61M
NOW icon
52
ServiceNow
NOW
$129B
$59.3M 0.31%
279,775
-500
-0.2% -$101K
PEP icon
53
PepsiCo
PEP
$190B
$58.4M 0.3%
384,122
-7,100
-2% -$1.16M
MCD icon
54
McDonald's
MCD
$195B
$56.4M 0.29%
194,515
-800
-0.4% -$239K
LIN icon
55
Linde
LIN
$226B
$56.2M 0.29%
134,204
-3,000
-2% -$1.37M
MBB icon
56
iShares MBS ETF
MBB
$39.1B
$55M 0.29%
600,000
– –
DIS icon
57
Walt Disney
DIS
$181B
$54.7M 0.28%
491,466
-2,400
-0.5% -$252K
TMO icon
58
Thermo Fisher Scientific
TMO
$220B
$54M 0.28%
103,810
-38,200
-27% -$21M
ABT icon
59
Abbott
ABT
$187B
$53.2M 0.28%
470,757
-3,100
-0.7% -$358K
VZ icon
60
Verizon
VZ
$196B
$51.9M 0.27%
1,297,450
-6,000
-0.5% -$253K
GS icon
61
Goldman Sachs
GS
$303B
$51.5M 0.27%
89,873
-1,500
-2% -$837K
PM icon
62
Philip Morris
PM
$295B
$50.8M 0.26%
421,958
-1,500
-0.4% -$189K
CAT icon
63
Caterpillar
CAT
$387B
$50.4M 0.26%
139,072
-2,000
-1% -$776K
TXN icon
64
Texas Instruments
TXN
$261B
$49.3M 0.26%
263,065
-2,100
-0.8% -$420K
QCOM icon
65
Qualcomm
QCOM
$176B
$49.2M 0.26%
320,466
-600
-0.2% -$98.2K
GE icon
66
GE Aerospace
GE
$384B
$49M 0.25%
293,761
-1,500
-0.5% -$268K
INTU icon
67
Intuit
INTU
$89B
$47.8M 0.25%
76,090
– –
XYZ
68
Block Inc
XYZ
$47.5B
$46.1M 0.24%
542,246
+301,000
+125% +$24.7M
PFE icon
69
Pfizer
PFE
$153B
$45.8M 0.24%
1,726,184
-4,700
-0.3% -$127K
ANET icon
70
Arista Networks
ANET
$238B
$45.5M 0.24%
411,556
+1,200
+0.3% +$123K
RTX icon
71
RTX Corp
RTX
$301B
$45.3M 0.24%
391,432
-4,400
-1% -$532K
AXP icon
72
American Express
AXP
$230B
$44.8M 0.23%
151,077
-1,900
-1% -$546K
AMAT icon
73
Applied Materials
AMAT
$428B
$44.7M 0.23%
274,755
+500
+0.2% +$90.6K
BKNG icon
74
Booking.com
BKNG
$161B
$44.5M 0.23%
223,975
-5,000
-2% -$961K
VLUE icon
75
iShares MSCI USA Value Factor ETF
VLUE
$9.47B
$44.5M 0.23%
421,400
+23,900
+6% +$2.63M
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 Q4 2024 Portfolio in Review

As of Q4 2024, State of Michigan Retirement System held 967 positions worth $19.2B, down 4.6% from $20.2B the previous quarter. Its ten largest holdings account for 37% of the portfolio.

State of Michigan Retirement System withdrew a net $1.27B in Q4 2024, closing 16 positions and reducing 601 holdings. Its most notable exit was iShares Core US Aggregate Bond ETF, an estimated $419M position sold in full.

By sector, the portfolio is most concentrated in Technology at 30% of assets, up from 27% a quarter earlier, followed by Financials and Consumer Discretionary.

Against the trend, State of Michigan Retirement System opened a new position in Apollo Global Management worth $20M.

  • State of Michigan Retirement System's largest Q4 2024 buy was Apollo Global Management: 121,300 shares worth $20M.
  • State of Michigan Retirement System added most to Cigna in Q4 2024, an estimated $47.8M increase.
  • State of Michigan Retirement System's biggest Q4 2024 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $594M.
  • State of Michigan Retirement System fully exited iShares Core US Aggregate Bond ETF in Q4 2024, selling an estimated $419M.
  • State of Michigan Retirement System's ten largest holdings make up 37% of its $19.2B portfolio in Q4 2024.
  • State of Michigan Retirement System opened 17 new positions and closed 16 in Q4 2024.
  • State of Michigan Retirement System's portfolio value fell 4.6% quarter-over-quarter to $19.2B.

Based on State of Michigan Retirement System's 13F filing for Q4 2024, filed 6 Feb 2025.