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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
FERG icon
901
Ferguson
FERG
$50.9B
$753K ﹤0.01%
3,900
– –
CNO icon
902
CNO Financial Group
CNO
$5.12B
$752K ﹤0.01%
26,951
-100
-0.4% -$2.52K
NWE icon
903
NorthWestern Energy
NWE
$4.38B
$750K ﹤0.01%
14,728
+400
+3% +$20K
AMED
904
DELISTED
Amedisys
AMED
$749K ﹤0.01%
7,875
+100
+1% +$9.34K
TCBI icon
905
Texas Capital Bancshares
TCBI
$4.31B
$747K ﹤0.01%
11,552
+100
+0.9% +$5.76K
PGNY icon
906
Progyny
PGNY
$2.21B
$743K ﹤0.01%
19,979
+100
+0.5% +$3.36K
ZD icon
907
Ziff Davis
ZD
$1.99B
$742K ﹤0.01%
11,040
-100
-0.9% -$6.34K
VSH icon
908
Vishay Intertechnology
VSH
$5.17B
$726K ﹤0.01%
30,288
-100
-0.3% -$2.32K
TGNA
909
DELISTED
TEGNA Inc
TGNA
$723K ﹤0.01%
47,271
-900
-2% -$13.5K
IART icon
910
Integra LifeSciences
IART
$1.33B
$709K ﹤0.01%
16,290
-600
-4% -$23.6K
PTON icon
911
Peloton Interactive
PTON
$2.4B
$709K ﹤0.01%
116,477
– –
MPT
912
Medical Properties Trust
MPT
$2.45B
$706K ﹤0.01%
143,700
+600
+0.4% +$2.94K
KMPR icon
913
Kemper
KMPR
$1.54B
$706K ﹤0.01%
14,496
+100
+0.7% +$4.37K
FHI icon
914
Federated Hermes
FHI
$4.72B
$700K ﹤0.01%
20,676
-400
-2% -$13K
IBOC icon
915
International Bancshares
IBOC
$4.51B
$696K ﹤0.01%
12,812
+100
+0.8% +$4.64K
CDP icon
916
COPT Defense Properties
CDP
$4.14B
$692K ﹤0.01%
27,013
-700
-3% -$17K
HELE icon
917
Helen of Troy
HELE
$677M
$692K ﹤0.01%
5,727
– –
FOXF icon
918
Fox Factory Holding Corp
FOXF
$892M
$688K ﹤0.01%
10,189
+100
+1% +$7.3K
HGV icon
919
Hilton Grand Vacations
HGV
$3.33B
$687K ﹤0.01%
17,100
-300
-2% -$11.3K
MP icon
920
MP Materials
MP
$9.71B
$687K ﹤0.01%
34,600
+200
+0.6% +$3.41K
TNL icon
921
Travel + Leisure Co
TNL
$4.51B
$680K ﹤0.01%
17,407
-300
-2% -$10.9K
CHH icon
922
Choice Hotels
CHH
$4.62B
$672K ﹤0.01%
5,932
-700
-11% -$80K
VAC icon
923
Marriott Vacations Worldwide
VAC
$3.93B
$672K ﹤0.01%
7,913
-200
-2% -$17.1K
LIVN icon
924
LivaNova
LIVN
$4.2B
$668K ﹤0.01%
12,911
– –
ENOV icon
925
Enovis
ENOV
$1.42B
$667K ﹤0.01%
11,902
– –
35 36
37
38 39

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
Luther King Capital Management (LKCM)
Luther King Capital Management (LKCM) Fort Worth, Texas $23.1B AUM 21.31% 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

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.