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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
-12.75%
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
$11.1B
AUM Growth
-$2.52B
Cap. Flow
-$649M
Cap. Flow %
-5.82%
Top 10 Hldgs %
23.67%
Holding
963
New
23
Increased
75
Reduced
826
Closed
19

Top Buys

Rank Stock Value
1
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$107M
2
RITM icon
Rithm Capital
RITM
+$68.6M
3
HON icon
Honeywell
HON
+$65.1M
4
DXC icon
DXC Technology
DXC
+$44.8M
5
RTN
Raytheon Company
RTN
+$41.3M

Top Sells

Rank Stock Value
1
EXC icon
Exelon
EXC
+$125M
2
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$108M
3
AXP icon
American Express
AXP
+$99.1M
4
V icon
Visa
V
+$83.3M
5
CVS icon
CVS Health
CVS
+$79.7M

Sector Composition

Rank Sector Weight
1 Technology 15.27%
2 Financials 14.8%
3 Healthcare 13.25%
4 Real Estate 12.44%
5 Industrials 8.76%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ALEX
926
DELISTED
Alexander & Baldwin
ALEX
$444K ﹤0.01%
24,139
-900
-4% -$18.1K
MIK
927
DELISTED
Michaels Stores, Inc
MIK
$433K ﹤0.01%
32,000
-4,100
-11% -$65.1K
OII icon
928
Oceaneering
OII
$4.77B
$425K ﹤0.01%
35,100
-1,300
-4% -$24.5K
MDR
929
DELISTED
McDermott International
MDR
$421K ﹤0.01%
64,399
-2,400
-4% -$25.3K
BIG
930
DELISTED
Big Lots, Inc.
BIG
$416K ﹤0.01%
14,400
-500
-3% -$19.4K
NWS icon
931
News Corp Class B
NWS
$17.5B
$407K ﹤0.01%
35,244
-1,600
-4% -$20.9K
DDS icon
932
Dillards
DDS
$9.56B
$398K ﹤0.01%
6,600
-500
-7% -$34.4K
PBI icon
933
Pitney Bowes
PBI
$2.39B
$395K ﹤0.01%
66,900
-2,600
-4% -$18.7K
POLY
934
DELISTED
Plantronics, Inc.
POLY
$391K ﹤0.01%
11,800
-400
-3% -$19.8K
INVX
935
Innovex International
INVX
$1.97B
$384K ﹤0.01%
12,800
-1,100
-8% -$44.4K
ISCA
936
DELISTED
International Speedway Corp
ISCA
$384K ﹤0.01%
8,750
-300
-3% -$12.1K
RDC
937
DELISTED
Rowan Companies Plc
RDC
$380K ﹤0.01%
45,300
-1,700
-4% -$25K
LNW
938
DELISTED
Light & Wonder
LNW
$350K ﹤0.01%
19,600
-700
-3% -$14.1K
GEF icon
939
Greif
GEF
$5.04B
$341K ﹤0.01%
9,200
-400
-4% -$18.7K
EFOI icon
940
Energy Focus
EFOI
$20.3M
$337K ﹤0.01%
15,580
– –
PZZA icon
941
Papa John's
PZZA
$806M
$318K ﹤0.01%
8,000
-300
-4% -$15.1K
TCPC icon
942
BlackRock TCP Capital
TCPC
$345M
$313K ﹤0.01%
24,039
– –
TR icon
943
Tootsie Roll Industries
TR
$2.98B
$220K ﹤0.01%
8,345
-381
-4% -$9.72K
DO
944
DELISTED
Diamond Offshore Drilling
DO
$217K ﹤0.01%
23,000
-900
-4% -$12.8K
GKOS icon
945
Glaukos
GKOS
$10.6B
– –
-38,207
Closed -$2.48M
NBR icon
946
Nabors Industries
NBR
$1.21B
– –
-2,407
Closed -$741K
UNFI icon
947
United Natural Foods
UNFI
$2.85B
– –
-18,700
Closed -$560K
AYX
948
DELISTED
Alteryx Inc
AYX
– –
-3,543
Closed -$203K
GPOR
949
DELISTED
Gulfport Energy Corp.
GPOR
– –
-58,300
Closed -$607K
AKRX
950
DELISTED
Akorn Inc
AKRX
– –
-34,800
Closed -$452K
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 2018 Portfolio in Review

As of Q4 2018, State of Michigan Retirement System held 963 positions worth $11.1B, down 18% from $13.7B the previous quarter. Its ten largest holdings account for 24% of the portfolio.

State of Michigan Retirement System withdrew a net $649M in Q4 2018, closing 19 positions and reducing 826 holdings. Its most notable exit was CA, Inc., an estimated $39.2M position sold in full.

By sector, the portfolio is most concentrated in Technology at 15% of assets, down from 17% a quarter earlier, followed by Financials and Healthcare.

Against the trend, State of Michigan Retirement System opened a new position in Honeywell worth $59.4M.

  • State of Michigan Retirement System's largest Q4 2018 buy was Honeywell: 477,026 shares worth $59.4M.
  • State of Michigan Retirement System added most to State Street SPDR S&P 500 ETF Trust in Q4 2018, an estimated $107M increase.
  • State of Michigan Retirement System's biggest Q4 2018 reduction was Exelon, cutting an estimated $125M.
  • State of Michigan Retirement System fully exited CA, Inc. in Q4 2018, selling an estimated $39.2M.
  • State of Michigan Retirement System's ten largest holdings make up 24% of its $11.1B portfolio in Q4 2018.
  • State of Michigan Retirement System opened 23 new positions and closed 19 in Q4 2018.
  • State of Michigan Retirement System's portfolio value fell 18% quarter-over-quarter to $11.1B.

Based on State of Michigan Retirement System's 13F filing for Q4 2018, filed 1 Feb 2019.