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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
+12.86%
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
$16.8B
AUM Growth
+$1.35B
(+8.7%)
Cap. Flow
-$404M
Cap. Flow
% of AUM
-2.4%
Top 10 Holdings %
Top 10 Hldgs %
34.1%
Holding
982
New
18
Increased
351
Reduced
406
Closed
24
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Adobe
ADBE
|
+$53.6M |
| 2 |
iShares Core US Aggregate Bond ETF
AGG
|
+$48.5M |
| 3 |
Uber
UBER
|
+$29.6M |
| 4 |
Meta Platforms (Facebook)
META
|
+$22.1M |
| 5 |
Walt Disney
DIS
|
+$22M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
|
+$96.3M |
| 2 |
Apollo Global Management
APO
|
+$92.6M |
| 3 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$89.3M |
| 4 |
Teladoc Health
TDOC
|
+$55.9M |
| 5 |
OneMain Financial
OMF
|
+$39.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 25.35% |
| 2 | Financials | 11.06% |
| 3 | Communication Services | 10.3% |
| 4 | Healthcare | 9.58% |
| 5 | Consumer Discretionary | 9.02% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
951
Hertz
HTZ
$770M
| $330K | ﹤0.01% |
31,800
-200
| -0.6% | -$1.93K |
|
952
U-Haul Holding Co Series N
UHAL.B
$12.7B
| $321K | ﹤0.01% |
4,554
+500
| +12% | +$27.2K |
|
|
BASE
953
DELISTED
Couchbase
BASE
| $299K | ﹤0.01% |
+13,278
| New | +$243K |
|
954
Twilio
TWLO
$38.1B
| $288K | ﹤0.01% |
+3,800
| New | +$237K |
|
955
Veeva Systems
VEEV
$38B
| $270K | ﹤0.01% |
1,400
+200
| +17% | +$37.7K |
|
956
Pilgrim's Pride
PPC
$6.26B
| $268K | ﹤0.01% |
9,671
| – | – |
|
957
Albertsons Companies
ACI
$5.88B
| $265K | ﹤0.01% |
+11,500
| New | +$254K |
|
|
DMTK
958
DELISTED
DermTech, Inc. Common Stock
DMTK
| $105K | ﹤0.01% |
60,000
| – | – |
|
959
ACI Worldwide
ACIW
$5.32B
| – | – |
-25,943
| Closed | -$585K |
|
960
Alaska Air
ALK
$5.29B
| – | – |
-34,862
| Closed | -$1.29M |
|
961
Braze
BRZE
$3.21B
| – | – |
-17,545
| Closed | -$820K |
|
962
Clarivate
CLVT
$1.21B
| – | – |
-14,582
| Closed | -$97.8K |
|
963
DXC Technology
DXC
$1.74B
| – | – |
-56,228
| Closed | -$1.17M |
|
964
Globant
GLOB
$1.68B
| – | – |
-138,200
| Closed | -$27.3M |
|
965
GitLab
GTLB
$6.86B
| – | – |
-17,276
| Closed | -$781K |
|
966
ICU Medical
ICUI
$4.54B
| – | – |
-4,861
| Closed | -$579K |
|
967
Kohl's
KSS
$2.18B
| – | – |
-26,426
| Closed | -$554K |
|
968
monday.com
MNDY
$3.7B
| – | – |
-38,048
| Closed | -$6.06M |
|
|
CALY
969
Callaway Golf Company
CALY
$3.07B
| – | – |
-34,148
| Closed | -$473K |
|
970
Organon & Co
OGN
$3.58B
| – | – |
-69,864
| Closed | -$1.21M |
|
971
Sana Biotechnology
SANA
$1.01B
| – | – |
-687,989
| Closed | -$2.66M |
|
972
SolarEdge
SEDG
$2.02B
| – | – |
-15,536
| Closed | -$2.01M |
|
|
SEE
973
DELISTED
Sealed Air
SEE
| – | – |
-39,603
| Closed | -$1.3M |
|
974
Vicor
VICR
$9.79B
| – | – |
-5,344
| Closed | -$315K |
|
975
NCR Voyix
VYX
$1.11B
| – | – |
-52,173
| Closed | -$863K |
|
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State of Michigan Retirement System's Q4 2023 Portfolio in Review
As of Q4 2023, State of Michigan Retirement System held 982 positions worth $16.8B, up 8.7% from $15.5B the previous quarter. Its ten largest holdings account for 34% of the portfolio.
Trading was light in Q4 2023: portfolio turnover was 4.3%. State of Michigan Retirement System opened 18 new positions and exited 24, leaving the 982-position portfolio largely intact.
By sector, the portfolio is most concentrated in Technology at 25% of assets, up from 24% a quarter earlier, followed by Financials and Communication Services.
- State of Michigan Retirement System's largest Q4 2023 buy was Uber: 566,117 shares worth $34.9M.
- State of Michigan Retirement System added most to Adobe in Q4 2023, an estimated $53.6M increase.
- State of Michigan Retirement System's biggest Q4 2023 reduction was iShares iBoxx $ Investment Grade Corporate Bond ETF, cutting an estimated $96.3M.
- State of Michigan Retirement System fully exited State Street SPDR S&P Homebuilders ETF in Q4 2023, selling an estimated $28.3M.
- State of Michigan Retirement System's ten largest holdings make up 34% of its $16.8B portfolio in Q4 2023.
- State of Michigan Retirement System opened 18 new positions and closed 24 in Q4 2023.
- State of Michigan Retirement System's portfolio value rose 8.7% quarter-over-quarter to $16.8B.
Based on State of Michigan Retirement System's 13F filing for Q4 2023, filed 23 Jan 2024.