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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
+5.11%
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
$15.1B
AUM Growth
+$699M
Cap. Flow
+$129M
Cap. Flow %
0.86%
Top 10 Hldgs %
25.21%
Holding
970
New
21
Increased
542
Reduced
301
Closed
19

Top Buys

Rank Stock Value
1
VZ icon
Verizon
VZ
+$297M
2
USB icon
US Bancorp
USB
+$211M
3
VR
Validus Hold Ltd
VR
+$143M
4
CVS icon
CVS Health
CVS
+$134M
5
GSK icon
GSK
GSK
+$119M

Top Sells

Rank Stock Value
1
GS icon
Goldman Sachs
GS
+$204M
2
WMT icon
Walmart Inc
WMT
+$191M
3
JNJ icon
Johnson & Johnson
JNJ
+$122M
4
IBM icon
IBM
IBM
+$115M
5
AZO icon
AutoZone
AZO
+$104M

Sector Composition

Rank Sector Weight
1 Financials 19.55%
2 Technology 13.02%
3 Healthcare 12.6%
4 Consumer Discretionary 9%
5 Industrials 8.75%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TDW icon
926
Tidewater
TDW
$4.12B
$766K 0.01%
732
– –
GEF icon
927
Greif
GEF
$5.04B
$760K 0.01%
16,100
– –
VRE
928
DELISTED
Veris Residential
VRE
$759K 0.01%
39,800
+100
+0.3% +$1.91K
ARDX icon
929
Ardelyx
ARDX
$997M
$755K 0.01%
+39,954
New +$925K
FCN icon
930
FTI Consulting
FCN
$4.18B
$753K 0.01%
19,500
+100
+0.5% +$3.8K
UNT
931
DELISTED
UNIT Corporation
UNT
$747K ﹤0.01%
21,900
– –
RAMP icon
932
LiveRamp
RAMP
$2.3B
$742K ﹤0.01%
36,600
– –
IBOC icon
933
International Bancshares
IBOC
$4.57B
$733K ﹤0.01%
27,600
– –
NSR
934
DELISTED
Neustar Inc
NSR
$727K ﹤0.01%
26,160
-500
-2% -$13.1K
NVRI icon
935
Enviri
NVRI
$620M
$726K ﹤0.01%
38,420
+100
+0.3% +$1.95K
WOR icon
936
Worthington Enterprises
WOR
$2.86B
$725K ﹤0.01%
39,055
– –
KBH icon
937
KB Home
KBH
$3.59B
$717K ﹤0.01%
43,300
+100
+0.2% +$1.61K
MTUS icon
938
Metallus
MTUS
$898M
$676K ﹤0.01%
18,250
+200
+1% +$7.39K
WERN icon
939
Werner Enterprises
WERN
$2.25B
$660K ﹤0.01%
21,175
– –
ROSE
940
DELISTED
ROSETTA RESOURCES INC
ROSE
$654K ﹤0.01%
29,300
+100
+0.3% +$3.24K
GVA icon
941
Granite Construction
GVA
$5.62B
$652K ﹤0.01%
17,145
+100
+0.6% +$3.53K
ADVS
942
DELISTED
Advent Software Inc
ADVS
$650K ﹤0.01%
21,200
+200
+1% +$6.39K
GES
943
DELISTED
Guess Inc
GES
$641K ﹤0.01%
30,400
+100
+0.3% +$2.13K
AF
944
DELISTED
Astoria Financial Corporation
AF
$558K ﹤0.01%
41,800
+2,400
+6% +$31.1K
MDC
945
DELISTED
M.D.C. Holdings, Inc.
MDC
$492K ﹤0.01%
25,832
+139
+0.5% +$2.55K
LDRH
946
DELISTED
LDR HOLDINGS CORP COM STK
LDRH
$476K ﹤0.01%
+14,511
New +$476K
ISCA
947
DELISTED
International Speedway Corp
ISCA
$423K ﹤0.01%
13,350
+100
+0.8% +$3.1K
CRR
948
DELISTED
Carbo Ceramics Inc.
CRR
$372K ﹤0.01%
9,300
– –
DCM
949
DELISTED
NTT DOCOMO, Inc.
DCM
$299K ﹤0.01%
20,500
– –
TR icon
950
Tootsie Roll Industries
TR
$2.98B
$291K ﹤0.01%
13,518
– –
35 36 37
38
39

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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)
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

State of Michigan Retirement System's Q4 2014 Portfolio in Review

As of Q4 2014, State of Michigan Retirement System held 970 positions worth $15.1B, up 4.8% from $14.4B the previous quarter. Its ten largest holdings account for 25% of the portfolio.

Trading was light in Q4 2014: portfolio turnover was 4.1%. State of Michigan Retirement System opened 21 new positions and exited 19, leaving the 970-position portfolio largely intact.

By sector, the portfolio is most concentrated in Financials at 20% of assets, down from 20% a quarter earlier, followed by Technology and Healthcare.

  • State of Michigan Retirement System's largest Q4 2014 buy was Validus Hold Ltd: 3,550,000 shares worth $148M.
  • State of Michigan Retirement System added most to Verizon in Q4 2014, an estimated $297M increase.
  • State of Michigan Retirement System's biggest Q4 2014 reduction was Goldman Sachs, cutting an estimated $204M.
  • State of Michigan Retirement System fully exited KINDER MORGAN ENER PNTRS L.P. in Q4 2014, selling an estimated $18.1M.
  • State of Michigan Retirement System's ten largest holdings make up 25% of its $15.1B portfolio in Q4 2014.
  • State of Michigan Retirement System opened 21 new positions and closed 19 in Q4 2014.
  • State of Michigan Retirement System's portfolio value rose 4.8% quarter-over-quarter to $15.1B.

Based on State of Michigan Retirement System's 13F filing for Q4 2014, filed 3 Feb 2015.