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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
+5.02%
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
$12.4B
AUM Growth
-$886M
Cap. Flow
-$1.43B
Cap. Flow %
-11.61%
Top 10 Hldgs %
23.49%
Holding
969
New
21
Increased
50
Reduced
850
Closed
25

Top Buys

Rank Stock Value
1
AGNC icon
AGNC Investment
AGNC
+$128M
2
ALLY icon
Ally Financial
ALLY
+$52.1M
3
MCHP icon
Microchip Technology
MCHP
+$29.8M
4
DGX icon
Quest Diagnostics
DGX
+$28.6M
5
CVS icon
CVS Health
CVS
+$26.6M

Top Sells

Rank Stock Value
1
JPM icon
JPMorgan Chase
JPM
+$200M
2
AAPL icon
Apple
AAPL
+$187M
3
WTW icon
Willis Towers Watson
WTW
+$147M
4
GILD icon
Gilead Sciences
GILD
+$84.4M
5
BRK.B icon
Berkshire Hathaway Class B
BRK.B
+$60.2M

Sector Composition

Rank Sector Weight
1 Financials 19.42%
2 Technology 14.12%
3 Healthcare 14.08%
4 Communication Services 10.65%
5 Industrials 8.2%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PSO icon
951
Pearson
PSO
$9.9B
– –
-941,000
Closed -$8.44M
SENS icon
952
Senseonics Holdings Inc
SENS
$366M
– –
-22,215
Closed -$800K
VRNS icon
953
Varonis Systems
VRNS
$5B
– –
-39,276
Closed -$487K
WPC icon
954
W.P. Carey
WPC
$16.4B
– –
-305,485
Closed -$19.8M
CHS
955
DELISTED
Chicos FAS, Inc.
CHS
– –
-53,400
Closed -$503K
GMLP
956
DELISTED
Golar LNG Partners LP
GMLP
– –
-380,000
Closed -$7.63M
TCP
957
DELISTED
TC Pipelines LP
TCP
– –
-382,500
Closed -$21M
CAB
958
DELISTED
Cabela's Inc
CAB
– –
-21,300
Closed -$1.27M
WBMD
959
DELISTED
WebMD Health Corp.
WBMD
– –
-15,585
Closed -$914K
DD
960
DELISTED
Du Pont De Nemours E I
DD
– –
-284,915
Closed -$23M
WFM
961
DELISTED
Whole Foods Market Inc
WFM
– –
-104,998
Closed -$4.42M
CCP
962
DELISTED
Care Capital Properties, Inc.
CCP
– –
-34,600
Closed -$924K
NSR
963
DELISTED
Neustar Inc
NSR
– –
-22,960
Closed -$766K
RAI
964
DELISTED
Reynolds American Inc
RAI
– –
-557,114
Closed -$36.2M
PNRA
965
DELISTED
Panera Bread Co
PNRA
– –
-8,800
Closed -$2.77M
KATE
966
DELISTED
Kate Spade & Company
KATE
– –
-52,900
Closed -$978K
BHI
967
DELISTED
Baker Hughes
BHI
– –
-139,801
Closed -$7.62M
SPLS
968
DELISTED
Staples Inc
SPLS
– –
-214,262
Closed -$2.16M
WOOF
969
DELISTED
VCA Inc.
WOOF
– –
-33,500
Closed -$3.09M
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)
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CAM
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Luther King Capital Management (LKCM)
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DSA
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State of Michigan Retirement System's Q3 2017 Portfolio in Review

As of Q3 2017, State of Michigan Retirement System held 969 positions worth $12.4B, down 6.7% from $13.2B the previous quarter. Its ten largest holdings account for 23% of the portfolio.

State of Michigan Retirement System withdrew a net $1.43B in Q3 2017, closing 25 positions and reducing 850 holdings. Its most notable exit was Reynolds American Inc, an estimated $36.2M position sold in full.

By sector, the portfolio is most concentrated in Financials at 19% of assets, down from 21% a quarter earlier, followed by Technology and Healthcare.

Against the trend, State of Michigan Retirement System opened a new position in British American Tobacco worth $24.6M.

  • State of Michigan Retirement System's largest Q3 2017 buy was British American Tobacco: 393,715 shares worth $24.6M.
  • State of Michigan Retirement System added most to AGNC Investment in Q3 2017, an estimated $128M increase.
  • State of Michigan Retirement System's biggest Q3 2017 reduction was JPMorgan Chase, cutting an estimated $200M.
  • State of Michigan Retirement System fully exited Reynolds American Inc in Q3 2017, selling an estimated $36.2M.
  • State of Michigan Retirement System's ten largest holdings make up 23% of its $12.4B portfolio in Q3 2017.
  • State of Michigan Retirement System opened 21 new positions and closed 25 in Q3 2017.
  • State of Michigan Retirement System's portfolio value fell 6.7% quarter-over-quarter to $12.4B.

Based on State of Michigan Retirement System's 13F filing for Q3 2017, filed 19 Oct 2017.