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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
-2.31%
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
$18.9B
AUM Growth
-$1.63B
Cap. Flow
-$623M
Cap. Flow %
-3.29%
Top 10 Hldgs %
32.18%
Holding
956
New
21
Increased
397
Reduced
417
Closed
15

Top Buys

Rank Stock Value
1
ADBE icon
Adobe
ADBE
+$193M
2
CHTR icon
Charter Communications
CHTR
+$87.8M
3
DUOL icon
Duolingo
DUOL
+$78M
4
KR icon
Kroger
KR
+$60.4M
5
FDS icon
Factset
FDS
+$47.9M

Top Sells

Rank Stock Value
1
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$414M
2
NVDA icon
NVIDIA
NVDA
+$150M
3
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$103M
4
AAPL icon
Apple
AAPL
+$73.7M
5
MSFT icon
Microsoft
MSFT
+$73.6M

Sector Composition

Rank Sector Weight
1 Technology 31.88%
2 Financials 11.62%
3 Communication Services 10.41%
4 Consumer Discretionary 9.06%
5 Healthcare 8.62%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NVST icon
851
Envista
NVST
$4.53B
$1M 0.01%
39,463
+600
+2% +$15.6K
VNO icon
852
Vornado Realty Trust
VNO
$7.26B
$1M 0.01%
38,500
+400
+1% +$11.8K
NWE icon
853
NorthWestern Energy
NWE
$4.38B
$978K 0.01%
14,828
+300
+2% +$20.3K
HLNE icon
854
Hamilton Lane
HLNE
$5.53B
$974K 0.01%
9,800
+100
+1% +$12.3K
OLED icon
855
Universal Display
OLED
$4.16B
$972K 0.01%
10,605
+200
+2% +$22.1K
HRB icon
856
H&R Block
HRB
$5.82B
$967K 0.01%
30,468
+600
+2% +$20.9K
BRKR icon
857
Bruker
BRKR
$8.58B
$964K 0.01%
26,693
+500
+2% +$20.9K
DBX icon
858
Dropbox
DBX
$8.07B
$954K 0.01%
42,000
+800
+2% +$20.3K
PBF icon
859
PBF Energy
PBF
$7.86B
$952K 0.01%
20,000
+600
+3% +$22.5K
FLG
860
Flagstar Bank National Association
FLG
$5.84B
$949K 0.01%
72,095
+1,400
+2% +$18.3K
CBT icon
861
Cabot Corp
CBT
$4.46B
$946K 0.01%
12,565
– –
ALGM icon
862
Allegro MicroSystems
ALGM
$7.91B
$943K 0.01%
29,900
+600
+2% +$20.7K
TREX icon
863
Trex
TREX
$4.91B
$940K 0.01%
25,822
+500
+2% +$20.1K
PEGA icon
864
Pegasystems
PEGA
$5.43B
$936K ﹤0.01%
22,000
+300
+1% +$13.9K
WLK icon
865
Westlake Corp
WLK
$10.1B
$935K ﹤0.01%
8,000
+100
+1% +$9.7K
CNO icon
866
CNO Financial Group
CNO
$5.12B
$934K ﹤0.01%
22,751
+200
+0.9% +$8.36K
APPF icon
867
AppFolio
APPF
$7.07B
$931K ﹤0.01%
5,900
+400
+7% +$75.8K
MORN icon
868
Morningstar
MORN
$7.54B
$930K ﹤0.01%
5,500
-100
-2% -$18.6K
RYAN icon
869
Ryan Specialty Holdings
RYAN
$10.9B
$924K ﹤0.01%
27,400
+600
+2% +$25.6K
FFIN icon
870
First Financial Bankshares
FFIN
$4.93B
$924K ﹤0.01%
31,363
+600
+2% +$18.9K
BBWI icon
871
Bath & Body Works
BBWI
$3.89B
$920K ﹤0.01%
49,300
+600
+1% +$13K
EPR icon
872
EPR Properties
EPR
$4.63B
$914K ﹤0.01%
18,289
+300
+2% +$16.5K
CUZ icon
873
Cousins Properties
CUZ
$4.83B
$913K ﹤0.01%
40,444
+800
+2% +$19.4K
NWS icon
874
News Corp Class B
NWS
$17.6B
$911K ﹤0.01%
31,945
-400
-1% -$11.3K
WMG icon
875
Warner Music
WMG
$13.8B
$904K ﹤0.01%
35,400
+900
+3% +$25.5K
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 Q1 2026 Portfolio in Review

As of Q1 2026, State of Michigan Retirement System held 956 positions worth $18.9B, down 7.9% from $20.6B the previous quarter. Its ten largest holdings account for 32% of the portfolio.

State of Michigan Retirement System withdrew a net $623M in Q1 2026, closing 15 positions and reducing 417 holdings. Its most notable exit was Transmedics, an estimated $13.1M position sold in full.

By sector, the portfolio is most concentrated in Technology at 32% of assets, down from 33% a quarter earlier, followed by Financials and Communication Services.

Against the trend, State of Michigan Retirement System opened a new position in Spotify worth $27.2M.

  • State of Michigan Retirement System's largest Q1 2026 buy was Spotify: 56,031 shares worth $27.2M.
  • State of Michigan Retirement System added most to Adobe in Q1 2026, an estimated $193M increase.
  • State of Michigan Retirement System's biggest Q1 2026 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $414M.
  • State of Michigan Retirement System fully exited Transmedics in Q1 2026, selling an estimated $13.1M.
  • State of Michigan Retirement System's ten largest holdings make up 32% of its $18.9B portfolio in Q1 2026.
  • State of Michigan Retirement System opened 21 new positions and closed 15 in Q1 2026.
  • State of Michigan Retirement System's portfolio value fell 7.9% quarter-over-quarter to $18.9B.

Based on State of Michigan Retirement System's 13F filing for Q1 2026, filed 4 May 2026.