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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
-3.04%
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
$17.3B
AUM Growth
-$1.9B
(-9.9%)
Cap. Flow
-$1.06B
Cap. Flow
% of AUM
-6.11%
Top 10 Holdings %
Top 10 Hldgs %
32.47%
Holding
963
New
12
Increased
395
Reduced
310
Closed
19
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
JPMorgan Chase
JPM
|
+$35M |
| 2 |
Broadcom
AVGO
|
+$34.7M |
| 3 |
Vertiv
VRT
|
+$18.2M |
| 4 |
XYZ
Block Inc
XYZ
|
+$17.4M |
| 5 |
DoorDash
DASH
|
+$17.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$585M |
| 2 |
CVS Health
CVS
|
+$190M |
| 3 |
AT&T
T
|
+$153M |
| 4 |
iShares Core S&P Mid-Cap ETF
IJH
|
+$43M |
| 5 |
Microsoft
MSFT
|
+$36.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 28.36% |
| 2 | Financials | 12.46% |
| 3 | Healthcare | 10.12% |
| 4 | Consumer Discretionary | 9.98% |
| 5 | Communication Services | 9.07% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
951
iShares Biotechnology ETF
IBB
$9.82B
| – | – |
-137,000
| Closed | -$18.1M |
|
952
Neogen
NEOG
$2.49B
| – | – |
-46,653
| Closed | -$566K |
|
953
Phinia Inc
PHIN
$2.7B
| – | – |
-4,218
| Closed | -$203K |
|
954
Qorvo
QRVO
$8.56B
| – | – |
-6,142
| Closed | -$430K |
|
955
SentinelOne
S
$7.62B
| – | – |
-109,510
| Closed | -$2.43M |
|
956
Teradata
TDC
$2.58B
| – | – |
-22,642
| Closed | -$705K |
|
957
Teleflex
TFX
$5.89B
| – | – |
-12,617
| Closed | -$2.25M |
|
958
Rubrik
RBRK
$20.2B
| – | – |
-45,578
| Closed | -$2.98M |
|
|
RPT
959
Rithm Property Trust
RPT
$96M
| – | – |
-134,166
| Closed | -$2.39M |
|
|
ALTR
960
DELISTED
Altair Engineering Inc
ALTR
| – | – |
-14,200
| Closed | -$1.55M |
|
|
AZPN
961
DELISTED
Aspen Technology Inc
AZPN
| – | – |
-8,307
| Closed | -$2.07M |
|
|
ALTM
962
DELISTED
Arcadium Lithium plc
ALTM
| – | – |
-254,758
| Closed | -$1.31M |
|
|
OMGA
963
DELISTED
Omega Therapeutics, Inc. Common Stock
OMGA
| – | – |
-224,117
| Closed | -$167K |
|
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State of Michigan Retirement System's Q1 2025 Portfolio in Review
As of Q1 2025, State of Michigan Retirement System held 963 positions worth $17.3B, down 9.9% from $19.2B the previous quarter. Its ten largest holdings account for 32% of the portfolio.
State of Michigan Retirement System withdrew a net $1.06B in Q1 2025, closing 19 positions and reducing 310 holdings. Its most notable exit was iShares Biotechnology ETF, an estimated $18.1M position sold in full.
By sector, the portfolio is most concentrated in Technology at 28% of assets, down from 30% a quarter earlier, followed by Financials and Healthcare.
Against the trend, State of Michigan Retirement System opened a new position in DoorDash worth $16.8M.
- State of Michigan Retirement System's largest Q1 2025 buy was DoorDash: 92,000 shares worth $16.8M.
- State of Michigan Retirement System added most to JPMorgan Chase in Q1 2025, an estimated $35M increase.
- State of Michigan Retirement System's biggest Q1 2025 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $585M.
- State of Michigan Retirement System fully exited iShares Biotechnology ETF in Q1 2025, selling an estimated $18.1M.
- State of Michigan Retirement System's ten largest holdings make up 32% of its $17.3B portfolio in Q1 2025.
- State of Michigan Retirement System opened 12 new positions and closed 19 in Q1 2025.
- State of Michigan Retirement System's portfolio value fell 9.9% quarter-over-quarter to $17.3B.
Based on State of Michigan Retirement System's 13F filing for Q1 2025, filed 30 Apr 2025.