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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
+5.02%
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
$12.4B
AUM Growth
-$886M
Cap. Flow
-$1.43B
Cap. Flow %
-11.61%
Top 10 Hldgs %
23.49%
Holding
969
New
21
Increased
50
Reduced
850
Closed
25

Top Buys

Rank Stock Value
1
AGNC icon
AGNC Investment
AGNC
+$128M
2
ALLY icon
Ally Financial
ALLY
+$52.1M
3
MCHP icon
Microchip Technology
MCHP
+$29.8M
4
DGX icon
Quest Diagnostics
DGX
+$28.6M
5
CVS icon
CVS Health
CVS
+$26.6M

Top Sells

Rank Stock Value
1
JPM icon
JPMorgan Chase
JPM
+$200M
2
AAPL icon
Apple
AAPL
+$187M
3
WTW icon
Willis Towers Watson
WTW
+$147M
4
GILD icon
Gilead Sciences
GILD
+$84.4M
5
BRK.B icon
Berkshire Hathaway Class B
BRK.B
+$60.2M

Sector Composition

Rank Sector Weight
1 Financials 19.42%
2 Technology 14.12%
3 Healthcare 14.08%
4 Communication Services 10.65%
5 Industrials 8.2%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MTX icon
851
Minerals Technologies
MTX
$2.34B
$931K 0.01%
13,180
-1,300
-9% -$89K
NYT icon
852
New York Times
NYT
$10.2B
$927K 0.01%
47,300
-3,100
-6% -$57.7K
UAA icon
853
Under Armour
UAA
$2.6B
$925K 0.01%
56,156
-4,500
-7% -$82.6K
MTDR icon
854
Matador Resources
MTDR
$6.09B
$910K 0.01%
33,500
-4,900
-13% -$116K
UNIT
855
Uniti Group
UNIT
$2.32B
$910K 0.01%
62,040
-3,100
-5% -$65.5K
AHL
856
DELISTED
ASPEN Insurance Holding Limited
AHL
$909K 0.01%
22,500
-2,200
-9% -$102K
CVG
857
DELISTED
Convergys
CVG
$909K 0.01%
35,100
-3,700
-10% -$88.8K
AEO icon
858
American Eagle Outfitters
AEO
$3.01B
$905K 0.01%
63,275
-5,300
-8% -$64.9K
WLY icon
859
John Wiley & Sons Class A
WLY
$2.66B
$899K 0.01%
16,800
-1,700
-9% -$91.2K
GATX icon
860
GATX Corp
GATX
$6.27B
$898K 0.01%
14,590
-1,500
-9% -$92.3K
ESL
861
DELISTED
Esterline Technologies
ESL
$892K 0.01%
9,900
-2,400
-20% -$216K
MIK
862
DELISTED
Michaels Stores, Inc
MIK
$891K 0.01%
41,500
-2,100
-5% -$42.8K
SFM icon
863
Sprouts Farmers Market
SFM
$8.01B
$890K 0.01%
47,400
-5,900
-11% -$131K
BIG
864
DELISTED
Big Lots, Inc.
BIG
$889K 0.01%
16,600
-1,900
-10% -$93.6K
GPOR
865
DELISTED
Gulfport Energy Corp.
GPOR
$888K 0.01%
61,900
-3,700
-6% -$48.1K
ODP
866
DELISTED
ODP
ODP
$885K 0.01%
19,500
-1,800
-8% -$89K
MZTI
867
The Marzetti Company
MZTI
$3.11B
$879K 0.01%
7,320
-700
-9% -$84.4K
WKC icon
868
World Kinect Corp
WKC
$1.86B
$875K 0.01%
25,800
-2,700
-9% -$96.3K
LPNT
869
DELISTED
LifePoint Health, Inc.
LPNT
$874K 0.01%
15,100
-1,500
-9% -$89.2K
SKT icon
870
Tanger
SKT
$4.52B
$872K 0.01%
35,700
-4,100
-10% -$104K
MUSA icon
871
Murphy USA
MUSA
$9.61B
$871K 0.01%
12,625
-1,600
-11% -$111K
NBR icon
872
Nabors Industries
NBR
$1.21B
$867K 0.01%
2,149
-208
-9% -$76.1K
GVA icon
873
Granite Construction
GVA
$5.62B
$866K 0.01%
14,945
-1,500
-9% -$79.1K
DKS icon
874
Dick's Sporting Goods
DKS
$18.7B
$859K 0.01%
31,800
-4,400
-12% -$140K
PAY
875
DELISTED
Verifone Systems Inc
PAY
$854K 0.01%
42,100
-3,900
-8% -$76.1K
33 34
35
36 37

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FAM
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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)
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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
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State of Michigan Retirement System's Q3 2017 Portfolio in Review

As of Q3 2017, State of Michigan Retirement System held 969 positions worth $12.4B, down 6.7% from $13.2B the previous quarter. Its ten largest holdings account for 23% of the portfolio.

State of Michigan Retirement System withdrew a net $1.43B in Q3 2017, closing 25 positions and reducing 850 holdings. Its most notable exit was Reynolds American Inc, an estimated $36.2M position sold in full.

By sector, the portfolio is most concentrated in Financials at 19% of assets, down from 21% a quarter earlier, followed by Technology and Healthcare.

Against the trend, State of Michigan Retirement System opened a new position in British American Tobacco worth $24.6M.

  • State of Michigan Retirement System's largest Q3 2017 buy was British American Tobacco: 393,715 shares worth $24.6M.
  • State of Michigan Retirement System added most to AGNC Investment in Q3 2017, an estimated $128M increase.
  • State of Michigan Retirement System's biggest Q3 2017 reduction was JPMorgan Chase, cutting an estimated $200M.
  • State of Michigan Retirement System fully exited Reynolds American Inc in Q3 2017, selling an estimated $36.2M.
  • State of Michigan Retirement System's ten largest holdings make up 23% of its $12.4B portfolio in Q3 2017.
  • State of Michigan Retirement System opened 21 new positions and closed 25 in Q3 2017.
  • State of Michigan Retirement System's portfolio value fell 6.7% quarter-over-quarter to $12.4B.

Based on State of Michigan Retirement System's 13F filing for Q3 2017, filed 19 Oct 2017.