We are live on ! Find out more
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
+3.57%
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
$20.6B
AUM Growth
-$244M
Cap. Flow
-$619M
Cap. Flow %
-3.01%
Top 10 Hldgs %
37.15%
Holding
963
New
19
Increased
89
Reduced
756
Closed
28

Top Buys

Rank Stock Value
1
DUOL icon
Duolingo
DUOL
+$130M
2
KBDC
Kayne Anderson BDC
KBDC
+$95.7M
3
KR icon
Kroger
KR
+$52M
4
CRH icon
CRH
CRH
+$20.9M
5
MTUM icon
iShares MSCI USA Momentum Factor ETF
MTUM
+$16M

Top Sells

Rank Stock Value
1
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$238M
2
NVDA icon
NVIDIA
NVDA
+$55.6M
3
AAPL icon
Apple
AAPL
+$40.7M
4
SPOT icon
Spotify
SPOT
+$39.1M
5
MSFT icon
Microsoft
MSFT
+$31M

Sector Composition

Rank Sector Weight
1 Technology 33%
2 Financials 12.17%
3 Communication Services 10.58%
4 Consumer Discretionary 9.44%
5 Healthcare 8.86%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ST icon
826
Sensata Technologies
ST
$6.81B
$1.15M 0.01%
34,400
-300
-0.9% -$9.59K
BCO icon
827
Brink's
BCO
$4.7B
$1.14M 0.01%
9,777
-100
-1% -$11.4K
BC icon
828
Brunswick
BC
$5.18B
$1.14M 0.01%
15,370
-200
-1% -$13.6K
MTN icon
829
Vail Resorts
MTN
$5.23B
$1.13M 0.01%
8,500
-300
-3% -$44.1K
QLYS icon
830
Qualys
QLYS
$6.34B
$1.13M 0.01%
8,476
-100
-1% -$13.8K
SBRA icon
831
Sabra Healthcare REIT
SBRA
$5.11B
$1.12M 0.01%
58,949
+1,800
+3% +$33.4K
POST icon
832
Post Holdings
POST
$3.54B
$1.11M 0.01%
11,247
-100
-0.9% -$10.4K
OGS icon
833
ONE Gas
OGS
$5.03B
$1.1M 0.01%
14,204
-100
-0.7% -$8.04K
NJR icon
834
New Jersey Resources
NJR
$5.61B
$1.1M 0.01%
23,785
-100
-0.4% -$4.62K
SAIC icon
835
Saic
SAIC
$5.25B
$1.09M 0.01%
10,855
-300
-3% -$28.6K
PSKY
836
Paramount Skydance Corp
PSKY
$10.6B
$1.09M 0.01%
81,412
-2,100
-3% -$32.8K
LOPE icon
837
Grand Canyon Education
LOPE
$3.71B
$1.09M 0.01%
6,559
– –
BDC icon
838
Belden
BDC
$5.38B
$1.08M 0.01%
9,298
-100
-1% -$11.7K
TNL icon
839
Travel + Leisure Co
TNL
$4.53B
$1.07M 0.01%
15,207
-300
-2% -$19.7K
ELF icon
840
e.l.f. Beauty
ELF
$5.53B
$1.07M 0.01%
14,100
– –
AMKR icon
841
Amkor Technology
AMKR
$14.1B
$1.06M 0.01%
26,849
-200
-0.7% -$7.12K
WMG icon
842
Warner Music
WMG
$13.1B
$1.06M 0.01%
34,500
-200
-0.6% -$6.11K
DVA icon
843
DaVita
DVA
$11.4B
$1.05M 0.01%
9,249
-1,190
-11% -$145K
GPK icon
844
Graphic Packaging
GPK
$3.49B
$1.05M 0.01%
69,700
-800
-1% -$13.2K
CROX icon
845
Crocs
CROX
$6.26B
$1.05M 0.01%
12,238
-800
-6% -$66.9K
LNTH icon
846
Lantheus
LNTH
$6.58B
$1.04M 0.01%
15,700
-500
-3% -$29.1K
CUZ icon
847
Cousins Properties
CUZ
$4.85B
$1.02M 0.01%
39,644
-400
-1% -$10.4K
SLAB icon
848
Silicon Laboratories
SLAB
$7.21B
$1.02M 0.01%
7,797
– –
SON icon
849
Sonoco
SON
$5.7B
$1.02M 0.01%
23,351
-100
-0.4% -$4.14K
NOVT icon
850
Novanta
NOVT
$6.37B
$1.01M ﹤0.01%
8,500
-100
-1% -$11.4K
32 33
34
35 36

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 Q4 2025 Portfolio in Review

As of Q4 2025, State of Michigan Retirement System held 963 positions worth $20.6B, down 1.2% from $20.8B the previous quarter. Its ten largest holdings account for 37% of the portfolio.

State of Michigan Retirement System withdrew a net $619M in Q4 2025, closing 28 positions and reducing 756 holdings. Its most notable exit was Spotify, an estimated $39.1M position sold in full.

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

Against the trend, State of Michigan Retirement System opened a new position in Kayne Anderson BDC worth $94M.

  • State of Michigan Retirement System's largest Q4 2025 buy was Kayne Anderson BDC: 6,566,762 shares worth $94M.
  • State of Michigan Retirement System added most to Duolingo in Q4 2025, an estimated $130M increase.
  • State of Michigan Retirement System's biggest Q4 2025 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $238M.
  • State of Michigan Retirement System fully exited Spotify in Q4 2025, selling an estimated $39.1M.
  • State of Michigan Retirement System's ten largest holdings make up 37% of its $20.6B portfolio in Q4 2025.
  • State of Michigan Retirement System opened 19 new positions and closed 28 in Q4 2025.
  • State of Michigan Retirement System's portfolio value fell 1.2% quarter-over-quarter to $20.6B.

Based on State of Michigan Retirement System's 13F filing for Q4 2025, filed 29 Jan 2026.