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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
+3.91%
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
$12.7B
AUM Growth
-$93.8M
Cap. Flow
-$464M
Cap. Flow %
-3.66%
Top 10 Hldgs %
23.31%
Holding
990
New
23
Increased
560
Reduced
296
Closed
25

Top Buys

Rank Stock Value
1
JPM icon
JPMorgan Chase
JPM
+$118M
2
VZ icon
Verizon
VZ
+$87.7M
3
CVS icon
CVS Health
CVS
+$75.8M
4
GILD icon
Gilead Sciences
GILD
+$30.6M
5
TWX
Time Warner Inc
TWX
+$25.9M

Top Sells

Rank Stock Value
1
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$248M
2
WFC icon
Wells Fargo
WFC
+$134M
3
TSLA icon
Tesla
TSLA
+$72.1M
4
MSFT icon
Microsoft
MSFT
+$53.6M
5
AAPL icon
Apple
AAPL
+$48.9M

Sector Composition

Rank Sector Weight
1 Financials 19.25%
2 Technology 15.25%
3 Healthcare 14.33%
4 Communication Services 10.83%
5 Industrials 8.84%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
FOSL icon
951
Fossil Group
FOSL
$318M
$469K ﹤0.01%
16,900
+300
+2% +$8.87K
DO
952
DELISTED
Diamond Offshore Drilling
DO
$456K ﹤0.01%
25,900
+3,480
+16% +$69.8K
AR icon
953
Antero Resources
AR
$10.7B
$440K ﹤0.01%
16,342
-32,883
-67% -$876K
ANF icon
954
Abercrombie & Fitch
ANF
$5B
$432K ﹤0.01%
27,200
+100
+0.4% +$1.93K
WERN icon
955
Werner Enterprises
WERN
$2.25B
$418K ﹤0.01%
17,975
+100
+0.6% +$2.38K
ASNA
956
DELISTED
Ascena Retail Group, Inc.
ASNA
$375K ﹤0.01%
3,355
-70
-2% -$10.6K
GES
957
DELISTED
Guess Inc
GES
$362K ﹤0.01%
24,800
-900
-4% -$13.6K
ISCA
958
DELISTED
International Speedway Corp
ISCA
$349K ﹤0.01%
10,450
-200
-2% -$6.78K
EVOK
959
DELISTED
Evoke Pharma
EVOK
$316K ﹤0.01%
972
+798
+459% +$365K
FMI
960
DELISTED
Foundation Medicine, Inc.
FMI
$280K ﹤0.01%
12,000
– –
TR icon
961
Tootsie Roll Industries
TR
$2.98B
$260K ﹤0.01%
9,506
-134
-1% -$3.74K
EXLS icon
962
EXL Service
EXLS
$5.29B
$224K ﹤0.01%
+22,500
New +$229K
SGYP
963
DELISTED
Synergy Pharmaceuticals, Inc Common Stock
SGYP
$220K ﹤0.01%
40,000
– –
STML
964
DELISTED
Stemline Therapeutics, Inc.
STML
$217K ﹤0.01%
+20,000
New +$163K
PLXP
965
DELISTED
PLx Pharma Inc. Common Stock
PLXP
$181K ﹤0.01%
+1,563
New +$152K
ADM icon
966
Archer Daniels Midland
ADM
$36.9B
– –
-122,325
Closed -$5.25M
AGG icon
967
iShares Core US Aggregate Bond ETF
AGG
$138B
– –
-325,500
Closed -$36.6M
BGS icon
968
B&G Foods
BGS
$286M
– –
-6,000
Closed -$289K
GEVO icon
969
Gevo
GEVO
$382M
– –
-2,091
Closed -$494K
RUN icon
970
Sunrun
RUN
$2.46B
– –
-27,165
Closed -$161K
TSLA icon
971
Tesla
TSLA
$1.3T
– –
-5,094,345
Closed -$72.1M
XLE icon
972
State Street Energy Select Sector SPDR ETF
XLE
$37.7B
– –
-22,000
Closed -$751K
BCPC
973
Balchem Corp
BCPC
$5.72B
– –
-3,700
Closed -$221K
CARB
974
DELISTED
Carbonite Inc
CARB
– –
-25,734
Closed -$250K
SVU
975
DELISTED
SUPERVALU Inc.
SVU
– –
-15,229
Closed -$503K
36 37 38
39
40

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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
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 2016 Portfolio in Review

As of Q3 2016, State of Michigan Retirement System held 990 positions worth $12.7B, down 0.73% from $12.8B the previous quarter. Its ten largest holdings account for 23% of the portfolio.

State of Michigan Retirement System withdrew a net $464M in Q3 2016, closing 25 positions and reducing 296 holdings. Its most notable exit was Tesla, an estimated $72.1M position sold in full.

By sector, the portfolio is most concentrated in Financials at 19% of assets, up from 19% a quarter earlier, followed by Technology and Healthcare.

Against the trend, State of Michigan Retirement System opened a new position in Charter Communications worth $20.4M.

  • State of Michigan Retirement System's largest Q3 2016 buy was Charter Communications: 75,600 shares worth $20.4M.
  • State of Michigan Retirement System added most to JPMorgan Chase in Q3 2016, an estimated $118M increase.
  • State of Michigan Retirement System's biggest Q3 2016 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $248M.
  • State of Michigan Retirement System fully exited Tesla in Q3 2016, selling an estimated $72.1M.
  • State of Michigan Retirement System's ten largest holdings make up 23% of its $12.7B portfolio in Q3 2016.
  • State of Michigan Retirement System opened 23 new positions and closed 25 in Q3 2016.
  • State of Michigan Retirement System's portfolio value fell 0.73% quarter-over-quarter to $12.7B.

Based on State of Michigan Retirement System's 13F filing for Q3 2016, filed 2 Nov 2016.