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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
+9.85%
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
$20.8B
AUM Growth
+$1.49B
Cap. Flow
-$10.1M
Cap. Flow %
-0.05%
Top 10 Hldgs %
37.6%
Holding
964
New
20
Increased
152
Reduced
703
Closed
20

Top Buys

Rank Stock Value
1
HIMS icon
Hims & Hers Health
HIMS
+$34.8M
2
APP icon
Applovin
APP
+$33.8M
3
OSCR icon
Oscar Health
OSCR
+$23.9M
4
HOOD icon
Robinhood
HOOD
+$22.8M
5
KR icon
Kroger
KR
+$20.7M

Top Sells

Rank Stock Value
1
BIIB icon
Biogen
BIIB
+$33.5M
2
GEHC icon
GE HealthCare
GEHC
+$29.2M
3
BURL icon
Burlington
BURL
+$28.6M
4
VZ icon
Verizon
VZ
+$21.9M
5
ARM icon
Arm
ARM
+$20.7M

Sector Composition

Rank Sector Weight
1 Technology 32.79%
2 Financials 11.65%
3 Communication Services 10.3%
4 Consumer Discretionary 9.76%
5 Healthcare 8.41%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
T icon
51
AT&T
T
$168B
$62.1M 0.3%
2,197,913
-22,800
-1% -$647K
MU icon
52
Micron Technology
MU
$981B
$61.9M 0.3%
370,242
-1,200
-0.3% -$154K
MRK icon
53
Merck
MRK
$322B
$61.9M 0.3%
737,790
-7,300
-1% -$601K
CRM icon
54
Salesforce
CRM
$162B
$61.3M 0.29%
258,543
-2,400
-0.9% -$605K
MCD icon
55
McDonald's
MCD
$194B
$58.7M 0.28%
193,015
-1,400
-0.7% -$426K
DIS icon
56
Walt Disney
DIS
$179B
$57.7M 0.28%
503,766
-2,600
-0.5% -$306K
MBB icon
57
iShares MBS ETF
MBB
$39B
$57.1M 0.27%
600,000
– –
C icon
58
Citigroup
C
$228B
$56.2M 0.27%
553,336
-9,900
-2% -$939K
VZ icon
59
Verizon
VZ
$196B
$55.7M 0.27%
1,267,550
-506,000
-29% -$21.9M
APP icon
60
Applovin
APP
$107B
$55.6M 0.27%
77,400
+73,200
+1,743% +$33.8M
QCOM icon
61
Qualcomm
QCOM
$171B
$55.5M 0.27%
333,466
-6,700
-2% -$1.06M
UBER icon
62
Uber
UBER
$160B
$55.3M 0.27%
564,000
-4,600
-0.8% -$430K
AMAT icon
63
Applied Materials
AMAT
$417B
$55.2M 0.27%
269,455
-3,900
-1% -$708K
PEP icon
64
PepsiCo
PEP
$189B
$53.8M 0.26%
383,222
-2,600
-0.7% -$371K
INTC icon
65
Intel
INTC
$493B
$53.6M 0.26%
1,597,683
-2,300
-0.1% -$55.7K
MS icon
66
Morgan Stanley
MS
$338B
$52.2M 0.25%
328,126
-7,800
-2% -$1.15M
NOW icon
67
ServiceNow
NOW
$132B
$51.8M 0.25%
281,275
– –
INTU icon
68
Intuit
INTU
$92B
$51.6M 0.25%
75,490
-500
-0.7% -$360K
APH icon
69
Amphenol
APH
$206B
$51.4M 0.25%
415,574
+1,300
+0.3% +$143K
TJX icon
70
TJX Companies
TJX
$172B
$50.3M 0.24%
347,982
-1,900
-0.5% -$252K
HUBS icon
71
HubSpot
HUBS
$11B
$49.8M 0.24%
106,400
– –
LRCX icon
72
Lam Research
LRCX
$390B
$49.8M 0.24%
371,600
-5,500
-1% -$582K
TMO icon
73
Thermo Fisher Scientific
TMO
$224B
$49.5M 0.24%
102,110
-500
-0.5% -$233K
XLV icon
74
State Street Health Care Select Sector SPDR ETF
XLV
$43.9B
$49.4M 0.24%
354,888
-5,700
-2% -$771K
AXP icon
75
American Express
AXP
$230B
$48.8M 0.23%
146,777
-3,700
-2% -$1.18M
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
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
CHP
Castle Hook Partners New York $23.4B AUM 158.96% 1-Year Est. Return
OAG
Orbis Allan Gray Hamilton, Bermuda $23.7B AUM 65.43% 1-Year Est. Return
Jacobs Levy Equity Management
Jacobs Levy Equity Management Florham Park, New Jersey $23.8B AUM 25.4% 1-Year Est. Return

State of Michigan Retirement System's Q3 2025 Portfolio in Review

As of Q3 2025, State of Michigan Retirement System held 964 positions worth $20.8B, up 7.7% from $19.3B the previous quarter. Its ten largest holdings account for 38% of the portfolio.

Trading was light in Q3 2025: portfolio turnover was 4.1%. State of Michigan Retirement System opened 20 new positions and exited 20, leaving the 964-position portfolio largely intact.

By sector, the portfolio is most concentrated in Technology at 33% of assets, up from 31% a quarter earlier, followed by Financials and Communication Services.

  • State of Michigan Retirement System's largest Q3 2025 buy was Oscar Health: 1,450,000 shares worth $27.4M.
  • State of Michigan Retirement System added most to Hims & Hers Health in Q3 2025, an estimated $34.8M increase.
  • State of Michigan Retirement System's biggest Q3 2025 reduction was Biogen, cutting an estimated $33.5M.
  • State of Michigan Retirement System fully exited Arm in Q3 2025, selling an estimated $20.7M.
  • State of Michigan Retirement System's ten largest holdings make up 38% of its $20.8B portfolio in Q3 2025.
  • State of Michigan Retirement System opened 20 new positions and closed 20 in Q3 2025.
  • State of Michigan Retirement System's portfolio value rose 7.7% quarter-over-quarter to $20.8B.

Based on State of Michigan Retirement System's 13F filing for Q3 2025, filed 5 Nov 2025.