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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
+12.86%
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
$16.8B
AUM Growth
+$1.35B
Cap. Flow
-$404M
Cap. Flow %
-2.4%
Top 10 Hldgs %
34.1%
Holding
982
New
18
Increased
351
Reduced
406
Closed
24

Top Buys

Rank Stock Value
1
ADBE icon
Adobe
ADBE
+$53.6M
2
AGG icon
iShares Core US Aggregate Bond ETF
AGG
+$48.5M
3
UBER icon
Uber
UBER
+$29.6M
4
META icon
Meta Platforms (Facebook)
META
+$22.1M
5
DIS icon
Walt Disney
DIS
+$22M

Top Sells

Rank Stock Value
1
LQD icon
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
+$96.3M
2
APO icon
Apollo Global Management
APO
+$92.6M
3
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$89.3M
4
TDOC icon
Teladoc Health
TDOC
+$55.9M
5
OMF icon
OneMain Financial
OMF
+$39.2M

Sector Composition

Rank Sector Weight
1 Technology 25.35%
2 Financials 11.06%
3 Communication Services 10.3%
4 Healthcare 9.58%
5 Consumer Discretionary 9.02%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
OMGA
851
DELISTED
Omega Therapeutics, Inc. Common Stock
OMGA
$945K 0.01%
314,117
– –
AZTA icon
852
Azenta
AZTA
$1.54B
$939K 0.01%
14,417
– –
AN icon
853
AutoNation
AN
$6.88B
$938K 0.01%
6,248
-200
-3% -$27.6K
FFIN icon
854
First Financial Bankshares
FFIN
$4.93B
$935K 0.01%
30,863
+200
+0.7% +$5.3K
PCH
855
DELISTED
PotlatchDeltic
PCH
$934K 0.01%
19,031
-100
-0.5% -$4.58K
LOPE icon
856
Grand Canyon Education
LOPE
$3.82B
$932K 0.01%
7,059
-100
-1% -$13K
PSNL icon
857
Personalis
PSNL
$1.55B
$932K 0.01%
443,798
– –
MAN icon
858
ManpowerGroup
MAN
$2.63B
$927K 0.01%
11,663
-200
-2% -$14.9K
TEX icon
859
Terex
TEX
$7.58B
$926K 0.01%
16,118
– –
SWX icon
860
Southwest Gas
SWX
$6.56B
$914K 0.01%
14,429
+100
+0.7% +$6.01K
AVNT icon
861
Avient
AVNT
$4.19B
$907K 0.01%
21,824
– –
BLKB icon
862
Blackbaud
BLKB
$2.09B
$897K 0.01%
10,348
– –
KNF icon
863
Knife River
KNF
$3.83B
$897K 0.01%
13,555
+1,400
+12% +$79.6K
NEU icon
864
NewMarket
NEU
$8.37B
$894K 0.01%
1,637
– –
CUZ icon
865
Cousins Properties
CUZ
$4.83B
$887K 0.01%
36,444
+200
+0.6% +$4.1K
BKH icon
866
Black Hills Corp
BKH
$5.62B
$879K 0.01%
16,300
+300
+2% +$15.4K
SLGN icon
867
Silgan Holdings
SLGN
$4.35B
$878K 0.01%
19,400
-600
-3% -$25.3K
EPR icon
868
EPR Properties
EPR
$4.63B
$876K 0.01%
18,089
+100
+0.6% +$4.46K
UMBF icon
869
UMB Financial
UMBF
$11.1B
$872K 0.01%
10,441
– –
QDEL icon
870
QuidelOrtho
QDEL
$938M
$872K 0.01%
11,827
– –
TXNM
871
TXNM Energy Inc
TXNM
$5.91B
$857K 0.01%
20,589
+100
+0.5% +$4.28K
OGS icon
872
ONE Gas
OGS
$4.96B
$848K 0.01%
13,304
– –
ALE
873
DELISTED
Allete
ALE
$841K 0.01%
13,746
– –
LITE icon
874
Lumentum
LITE
$63.3B
$840K 0.01%
16,028
-400
-2% -$17.4K
CVLT icon
875
Commault Systems
CVLT
$5.78B
$839K 0.01%
10,512
– –
33 34
35
36 37

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
DSA
Davis Selected Advisers Tucson, Arizona $21.8B AUM 23.45% 1-Year Est. Return
CHP
Castle Hook Partners New York $23.4B AUM 158.96% 1-Year Est. Return
IC
IEQ Capital Foster City, California $21.5B AUM 75.26% 1-Year Est. Return

State of Michigan Retirement System's Q4 2023 Portfolio in Review

As of Q4 2023, State of Michigan Retirement System held 982 positions worth $16.8B, up 8.7% from $15.5B the previous quarter. Its ten largest holdings account for 34% of the portfolio.

Trading was light in Q4 2023: portfolio turnover was 4.3%. State of Michigan Retirement System opened 18 new positions and exited 24, leaving the 982-position portfolio largely intact.

By sector, the portfolio is most concentrated in Technology at 25% of assets, up from 24% a quarter earlier, followed by Financials and Communication Services.

  • State of Michigan Retirement System's largest Q4 2023 buy was Uber: 566,117 shares worth $34.9M.
  • State of Michigan Retirement System added most to Adobe in Q4 2023, an estimated $53.6M increase.
  • State of Michigan Retirement System's biggest Q4 2023 reduction was iShares iBoxx $ Investment Grade Corporate Bond ETF, cutting an estimated $96.3M.
  • State of Michigan Retirement System fully exited State Street SPDR S&P Homebuilders ETF in Q4 2023, selling an estimated $28.3M.
  • State of Michigan Retirement System's ten largest holdings make up 34% of its $16.8B portfolio in Q4 2023.
  • State of Michigan Retirement System opened 18 new positions and closed 24 in Q4 2023.
  • State of Michigan Retirement System's portfolio value rose 8.7% quarter-over-quarter to $16.8B.

Based on State of Michigan Retirement System's 13F filing for Q4 2023, filed 23 Jan 2024.