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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
VZ icon
51
Verizon
VZ
$196B
$58.8M 0.34%
1,296,950
-500
-0% -$20.8K
GE icon
52
GE Aerospace
GE
$384B
$58.3M 0.34%
291,161
-2,600
-0.9% -$512K
PEP icon
53
PepsiCo
PEP
$190B
$57.5M 0.33%
383,722
-400
-0.1% -$59.5K
ACN icon
54
Accenture
ACN
$108B
$56.9M 0.33%
182,238
– –
MBB icon
55
iShares MBS ETF
MBB
$39.1B
$56.3M 0.32%
600,000
– –
BURL icon
56
Burlington
BURL
$23.2B
$53.6M 0.31%
225,100
-64,200
-22% -$16.6M
RTX icon
57
RTX Corp
RTX
$301B
$51.9M 0.3%
391,532
+100
+0% +$12.7K
TMO icon
58
Thermo Fisher Scientific
TMO
$220B
$51.7M 0.3%
103,810
– –
ADBE icon
59
Adobe
ADBE
$105B
$49.1M 0.28%
128,023
-49,600
-28% -$21.3M
QCOM icon
60
Qualcomm
QCOM
$176B
$49M 0.28%
318,966
-1,500
-0.5% -$245K
GS icon
61
Goldman Sachs
GS
$303B
$48.8M 0.28%
89,373
-500
-0.6% -$301K
DIS icon
62
Walt Disney
DIS
$181B
$48.4M 0.28%
490,466
-1,000
-0.2% -$107K
VLUE icon
63
iShares MSCI USA Value Factor ETF
VLUE
$9.47B
$47.6M 0.27%
445,900
+24,500
+6% +$2.67M
TXN icon
64
Texas Instruments
TXN
$261B
$47.2M 0.27%
262,465
-600
-0.2% -$112K
INTU icon
65
Intuit
INTU
$89B
$46.6M 0.27%
75,890
-200
-0.3% -$120K
CAT icon
66
Caterpillar
CAT
$387B
$45.4M 0.26%
137,672
-1,400
-1% -$499K
AMGN icon
67
Amgen
AMGN
$222B
$45.4M 0.26%
145,697
-200
-0.1% -$59.1K
PGR icon
68
Progressive
PGR
$125B
$45M 0.26%
158,888
-100
-0.1% -$26.2K
NOW icon
69
ServiceNow
NOW
$129B
$44.5M 0.26%
279,275
-500
-0.2% -$96.4K
PFE icon
70
Pfizer
PFE
$153B
$43.7M 0.25%
1,725,484
-700
-0% -$18.3K
SPGI icon
71
S&P Global
SPGI
$120B
$43.4M 0.25%
85,453
-700
-0.8% -$358K
XLV icon
72
State Street Health Care Select Sector SPDR ETF
XLV
$43.3B
$43.2M 0.25%
295,988
+21,400
+8% +$3.11M
TJX icon
73
TJX Companies
TJX
$178B
$42.7M 0.25%
350,382
-1,100
-0.3% -$134K
XYZ
74
Block Inc
XYZ
$47.5B
$42.2M 0.24%
775,946
+233,700
+43% +$17.4M
ANET icon
75
Arista Networks
ANET
$238B
$42.1M 0.24%
542,956
+131,400
+32% +$13.3M
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 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.