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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
CAVA icon
776
CAVA Group
CAVA
$7.99B
$1.43M 0.01%
23,700
+4,000
+20% +$303K
RLI icon
777
RLI Corp
RLI
$5.76B
$1.42M 0.01%
21,832
+1,800
+9% +$122K
ORA icon
778
Ormat Technologies
ORA
$7.1B
$1.4M 0.01%
14,500
+600
+4% +$54.1K
DVA icon
779
DaVita
DVA
$11.4B
$1.39M 0.01%
10,439
-1,600
-13% -$220K
GPK icon
780
Graphic Packaging
GPK
$3.48B
$1.38M 0.01%
70,500
-2,100
-3% -$45.7K
FNB icon
781
FNB Corp
FNB
$6.81B
$1.38M 0.01%
85,551
-1,000
-1% -$15.9K
GBCI icon
782
Glacier Bancorp
GBCI
$6.4B
$1.37M 0.01%
28,236
-200
-0.7% -$9.38K
SLM icon
783
SLM Corp
SLM
$5.18B
$1.37M 0.01%
49,599
-900
-2% -$28.1K
ALK icon
784
Alaska Air
ALK
$5.3B
$1.37M 0.01%
27,500
-1,700
-6% -$94.5K
CHRD icon
785
Chord Energy
CHRD
$7.55B
$1.35M 0.01%
13,600
-300
-2% -$31.5K
MORN icon
786
Morningstar
MORN
$7.29B
$1.35M 0.01%
5,800
-600
-9% -$160K
NXST icon
787
Nexstar Media Group
NXST
$5.67B
$1.34M 0.01%
6,800
– –
LPX icon
788
Louisiana-Pacific
LPX
$5.16B
$1.34M 0.01%
15,058
+200
+1% +$18.5K
DBX icon
789
Dropbox
DBX
$7.28B
$1.33M 0.01%
44,100
-3,100
-7% -$88.7K
BF.B icon
790
Brown-Forman Class B
BF.B
$12.7B
$1.32M 0.01%
48,881
-1,800
-4% -$52.2K
JHG
791
DELISTED
Janus Henderson
JHG
$1.32M 0.01%
29,713
-600
-2% -$25.9K
THO icon
792
Thor Industries
THO
$4.09B
$1.32M 0.01%
12,718
-100
-0.8% -$10.1K
TREX icon
793
Trex
TREX
$5.02B
$1.32M 0.01%
25,522
-300
-1% -$18.3K
MTN icon
794
Vail Resorts
MTN
$5.23B
$1.32M 0.01%
8,800
-200
-2% -$31K
UFPI icon
795
UFP Industries
UFPI
$4.98B
$1.3M 0.01%
13,900
-600
-4% -$60.6K
BBWI icon
796
Bath & Body Works
BBWI
$3.74B
$1.3M 0.01%
50,400
-800
-2% -$23.7K
HLNE icon
797
Hamilton Lane
HLNE
$5.67B
$1.29M 0.01%
9,600
-800
-8% -$121K
MAT icon
798
Mattel
MAT
$4.27B
$1.29M 0.01%
76,733
-900
-1% -$16.4K
WEX icon
799
WEX
WEX
$6.41B
$1.29M 0.01%
8,175
-100
-1% -$16.5K
OZK icon
800
Bank OZK
OZK
$5.65B
$1.29M 0.01%
25,212
-200
-0.8% -$10.2K
30 31
32
33 34

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.