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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
+7.98%
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
$13.7B
AUM Growth
+$1.01B
Cap. Flow
+$122M
Cap. Flow %
0.89%
Top 10 Hldgs %
24.11%
Holding
956
New
20
Increased
569
Reduced
273
Closed
16

Top Buys

Rank Stock Value
1
NLY icon
Annaly Capital Management
NLY
+$289M
2
EG icon
Everest Group
EG
+$179M
3
AGNC icon
AGNC Investment
AGNC
+$75.2M
4
TWO
Two Harbors Investment
TWO
+$49.4M
5
RITM icon
Rithm Capital
RITM
+$44.2M

Top Sells

Rank Stock Value
1
WFC icon
Wells Fargo
WFC
+$134M
2
GILD icon
Gilead Sciences
GILD
+$133M
3
CVS icon
CVS Health
CVS
+$86.3M
4
XYZ
Block Inc
XYZ
+$74.9M
5
JPM icon
JPMorgan Chase
JPM
+$73.9M

Sector Composition

Rank Sector Weight
1 Technology 16.52%
2 Financials 15.53%
3 Healthcare 14.69%
4 Real Estate 10.27%
5 Consumer Discretionary 9.1%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
UNFI icon
926
United Natural Foods
UNFI
$2.85B
$560K ﹤0.01%
18,700
+100
+0.5% +$3.62K
SPN
927
DELISTED
Superior Energy Services, Inc.
SPN
$557K ﹤0.01%
5,720
+100
+2% +$9.39K
DDS icon
928
Dillards
DDS
$9.56B
$542K ﹤0.01%
7,100
-200
-3% -$16.2K
LNW
929
DELISTED
Light & Wonder
LNW
$516K ﹤0.01%
20,300
+600
+3% +$21.8K
GEF icon
930
Greif
GEF
$5.04B
$515K ﹤0.01%
9,600
+100
+1% +$5.44K
MCY icon
931
Mercury Insurance
MCY
$6.07B
$502K ﹤0.01%
10,000
-3,500
-26% -$174K
NWS icon
932
News Corp Class B
NWS
$17.5B
$501K ﹤0.01%
36,844
+800
+2% +$11.5K
PBI icon
933
Pitney Bowes
PBI
$2.39B
$492K ﹤0.01%
69,500
+400
+0.6% +$3.23K
DO
934
DELISTED
Diamond Offshore Drilling
DO
$478K ﹤0.01%
23,900
+100
+0.4% +$1.84K
AKRX
935
DELISTED
Akorn Inc
AKRX
$452K ﹤0.01%
34,800
+200
+0.6% +$3.29K
PZZA icon
936
Papa John's
PZZA
$806M
$426K ﹤0.01%
8,300
-400
-5% -$18.5K
ISCA
937
DELISTED
International Speedway Corp
ISCA
$396K ﹤0.01%
9,050
+100
+1% +$4.42K
TCPC icon
938
BlackRock TCP Capital
TCPC
$345M
$342K ﹤0.01%
+24,039
New +$352K
AYX
939
DELISTED
Alteryx Inc
AYX
$203K ﹤0.01%
+3,543
New +$180K
TR icon
940
Tootsie Roll Industries
TR
$2.98B
$201K ﹤0.01%
8,726
-253
-3% -$5.92K
APEI icon
941
American Public Education
APEI
$940M
– –
-294,320
Closed -$12.4M
ETN icon
942
Eaton
ETN
$174B
– –
-73,854
Closed -$5.52M
RAMP icon
943
LiveRamp
RAMP
$2.3B
– –
-28,400
Closed -$851K
ROKU icon
944
Roku
ROKU
$22.7B
– –
-11,650
Closed -$497K
ZVO
945
DELISTED
Zovio Inc. Common Stock
ZVO
– –
-1,353,331
Closed -$8.84M
FSCT
946
DELISTED
ForeScout Technologies, Inc. Common Stock
FSCT
– –
-61,523
Closed -$2.11M
BAC.WS.B
947
DELISTED
Bank Of America Corporation Ws B
BAC.WS.B
– –
-10,986,671
Closed -$6.7M
EDR
948
DELISTED
Education Realty Trust Inc
EDR
– –
-27,900
Closed -$1.16M
ILG
949
DELISTED
ILG, Inc Common Stock
ILG
– –
-38,900
Closed -$1.28M
PAY
950
DELISTED
Verifone Systems Inc
PAY
– –
-40,800
Closed -$931K
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 Q3 2018 Portfolio in Review

As of Q3 2018, State of Michigan Retirement System held 956 positions worth $13.7B, up 8% from $12.7B the previous quarter. Its ten largest holdings account for 24% of the portfolio.

Trading was light in Q3 2018: portfolio turnover was 3.8%. State of Michigan Retirement System opened 20 new positions and exited 16, leaving the 956-position portfolio largely intact.

By sector, the portfolio is most concentrated in Technology at 17% of assets, up from 16% a quarter earlier, followed by Financials and Healthcare.

  • State of Michigan Retirement System's largest Q3 2018 buy was Annaly Capital Management: 6,895,569 shares worth $282M.
  • State of Michigan Retirement System added most to Everest Group in Q3 2018, an estimated $179M increase.
  • State of Michigan Retirement System's biggest Q3 2018 reduction was Wells Fargo, cutting an estimated $134M.
  • State of Michigan Retirement System fully exited MTGE Investment Corp. Common Stock in Q3 2018, selling an estimated $43.1M.
  • State of Michigan Retirement System's ten largest holdings make up 24% of its $13.7B portfolio in Q3 2018.
  • State of Michigan Retirement System opened 20 new positions and closed 16 in Q3 2018.
  • State of Michigan Retirement System's portfolio value rose 8% quarter-over-quarter to $13.7B.

Based on State of Michigan Retirement System's 13F filing for Q3 2018, filed 26 Oct 2018.