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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
+15.14%
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
$19.3B
AUM Growth
+$1.98B
(+11%)
Cap. Flow
-$3.03M
Cap. Flow
% of AUM
-0.02%
Top 10 Holdings %
Top 10 Hldgs %
35.68%
Holding
951
New
7
Increased
468
Reduced
323
Closed
7
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Biogen
BIIB
|
+$31.3M |
| 2 |
Hims & Hers Health
HIMS
|
+$28.6M |
| 3 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$26.1M |
| 4 |
Verizon
VZ
|
+$20.6M |
| 5 |
Capital One
COF
|
+$13.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Rithm Capital
RITM
|
+$66.9M |
| 2 |
NextEra Energy
NEE
|
+$59.1M |
| 3 |
XYZ
Block Inc
XYZ
|
+$36.9M |
| 4 |
iShares MSCI USA Momentum Factor ETF
MTUM
|
+$19.4M |
| 5 |
DFS
Discover Financial Services
DFS
|
+$11.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 31.42% |
| 2 | Financials | 12% |
| 3 | Consumer Discretionary | 9.92% |
| 4 | Communication Services | 9.88% |
| 5 | Healthcare | 8.87% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
926
Capri Holdings
CPRI
$1.74B
| $495K | ﹤0.01% |
27,965
| – | – |
|
927
Park Hotels & Resorts
PK
$2.97B
| $491K | ﹤0.01% |
48,029
-800
| -2% | -$8.15K |
|
928
ManpowerGroup
MAN
$2.63B
| $451K | ﹤0.01% |
11,163
| – | – |
|
929
Columbia Sportswear
COLM
$2.94B
| $450K | ﹤0.01% |
7,374
-300
| -4% | -$19.3K |
|
930
Wendy's
WEN
$1.46B
| $443K | ﹤0.01% |
38,785
-2,200
| -5% | -$26.8K |
|
931
Pilgrim's Pride
PPC
$6.54B
| $435K | ﹤0.01% |
9,671
| – | – |
|
932
IPG Photonics
IPGP
$3.84B
| $432K | ﹤0.01% |
6,300
| – | – |
|
933
Veeva Systems
VEEV
$37.4B
| $432K | ﹤0.01% |
1,500
-29,100
| -95% | -$7.22M |
|
934
Sotera Health
SHC
$5.38B
| $410K | ﹤0.01% |
36,900
+300
| +0.8% | +$3.51K |
|
935
Coty
COTY
$2.48B
| $410K | ﹤0.01% |
88,098
+400
| +0.5% | +$1.98K |
|
936
Sarepta Therapeutics
SRPT
$1.77B
| $404K | ﹤0.01% |
23,600
+700
| +3% | +$29.9K |
|
937
Greif
GEF
$5.04B
| $399K | ﹤0.01% |
6,139
| – | – |
|
938
First Citizens BancShares
FCNCA
$25.3B
| $391K | ﹤0.01% |
200
| – | – |
|
939
Boston Beer
SAM
$1.92B
| $378K | ﹤0.01% |
1,983
-100
| -5% | -$23K |
|
940
Under Armour
UAA
$2.6B
| $305K | ﹤0.01% |
44,700
| – | – |
|
|
MRP
941
Millrose Properties Inc
MRP
$4.81B
| $283K | ﹤0.01% |
9,938
| – | – |
|
942
Corebridge Financial
CRBG
$15B
| $206K | ﹤0.01% |
+5,800
| New | +$180K |
|
943
Under Armour Class C
UA
$2.53B
| $199K | ﹤0.01% |
30,700
| – | – |
|
944
AbCellera Biologics
ABCL
$2.12B
| $169K | ﹤0.01% |
+49,225
| New | +$123K |
|
|
DFS
945
DELISTED
Discover Financial Services
DFS
| – | – |
-68,101
| Closed | -$11.6M |
|
|
JWN
946
DELISTED
Nordstrom
JWN
| – | – |
-23,308
| Closed | -$570K |
|
947
LPL Financial
LPLA
$28.6B
| – | – |
-1,100
| Closed | -$360K |
|
948
Rocket Lab Corp
RKLB
$51.8B
| – | – |
-73,854
| Closed | -$1.32M |
|
949
U-Haul Holding Co Series N
UHAL.B
$12.8B
| – | – |
-3,454
| Closed | -$204K |
|
|
X
950
DELISTED
US Steel
X
| – | – |
-53,899
| Closed | -$2.28M |
|
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State of Michigan Retirement System's Q2 2025 Portfolio in Review
As of Q2 2025, State of Michigan Retirement System held 951 positions worth $19.3B, up 11% from $17.3B the previous quarter. Its ten largest holdings account for 36% of the portfolio.
Trading was light in Q2 2025: portfolio turnover was 1.5%. State of Michigan Retirement System opened 7 new positions and exited 7, leaving the 951-position portfolio largely intact.
By sector, the portfolio is most concentrated in Technology at 31% of assets, up from 28% a quarter earlier, followed by Financials and Consumer Discretionary.
- State of Michigan Retirement System's largest Q2 2025 buy was Coinbase: 57,500 shares worth $20.2M.
- State of Michigan Retirement System added most to Biogen in Q2 2025, an estimated $31.3M increase.
- State of Michigan Retirement System's biggest Q2 2025 reduction was Rithm Capital, cutting an estimated $66.9M.
- State of Michigan Retirement System fully exited Discover Financial Services in Q2 2025, selling an estimated $11.6M.
- State of Michigan Retirement System's ten largest holdings make up 36% of its $19.3B portfolio in Q2 2025.
- State of Michigan Retirement System opened 7 new positions and closed 7 in Q2 2025.
- State of Michigan Retirement System's portfolio value rose 11% quarter-over-quarter to $19.3B.
Based on State of Michigan Retirement System's 13F filing for Q2 2025, filed 5 Aug 2025.