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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
+9.85%
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
$20.8B
AUM Growth
+$1.49B
(+7.7%)
Cap. Flow
-$10.1M
Cap. Flow
% of AUM
-0.05%
Top 10 Holdings %
Top 10 Hldgs %
37.6%
Holding
964
New
20
Increased
152
Reduced
703
Closed
20
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Hims & Hers Health
HIMS
|
+$34.8M |
| 2 |
Applovin
APP
|
+$33.8M |
| 3 |
Oscar Health
OSCR
|
+$23.9M |
| 4 |
Robinhood
HOOD
|
+$22.8M |
| 5 |
Kroger
KR
|
+$20.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Biogen
BIIB
|
+$33.5M |
| 2 |
GE HealthCare
GEHC
|
+$29.2M |
| 3 |
Burlington
BURL
|
+$28.6M |
| 4 |
Verizon
VZ
|
+$21.9M |
| 5 |
Arm
ARM
|
+$20.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 32.79% |
| 2 | Financials | 11.65% |
| 3 | Communication Services | 10.3% |
| 4 | Consumer Discretionary | 9.76% |
| 5 | Healthcare | 8.41% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
951
Caesars Entertainment
CZR
$6.06B
| – | – |
-56,597
| Closed | -$1.61M |
|
952
Enphase Energy
ENPH
$5.59B
| – | – |
-35,715
| Closed | -$1.42M |
|
|
HES
953
DELISTED
Hess
HES
| – | – |
-75,341
| Closed | -$10.4M |
|
|
JNPR
954
DELISTED
Juniper Networks
JNPR
| – | – |
-111,024
| Closed | -$4.43M |
|
955
ManpowerGroup
MAN
$2.62B
| – | – |
-11,163
| Closed | -$451K |
|
956
MarketAxess Holdings
MKTX
$5.72B
| – | – |
-10,193
| Closed | -$2.28M |
|
|
PARA
957
DELISTED
Paramount Global Class B
PARA
| – | – |
-161,412
| Closed | -$2.08M |
|
958
Rithm Capital
RITM
$5.72B
| – | – |
-326,992
| Closed | -$3.69M |
|
|
SKX
959
DELISTED
Skechers
SKX
| – | – |
-31,344
| Closed | -$1.98M |
|
960
Simulations Plus
SLP
$370M
| – | – |
-139,500
| Closed | -$2.43M |
|
961
Sarepta Therapeutics
SRPT
$1.92B
| – | – |
-23,600
| Closed | -$404K |
|
|
WBA
962
DELISTED
Walgreens Boots Alliance
WBA
| – | – |
-195,198
| Closed | -$2.24M |
|
963
Wendy's
WEN
$1.44B
| – | – |
-38,785
| Closed | -$443K |
|
|
RAL
964
Ralliant Corp
RAL
$7.91B
| – | – |
-32,418
| Closed | -$1.57M |
|
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State of Michigan Retirement System's Q3 2025 Portfolio in Review
As of Q3 2025, State of Michigan Retirement System held 964 positions worth $20.8B, up 7.7% from $19.3B the previous quarter. Its ten largest holdings account for 38% of the portfolio.
Trading was light in Q3 2025: portfolio turnover was 4.1%. State of Michigan Retirement System opened 20 new positions and exited 20, leaving the 964-position portfolio largely intact.
By sector, the portfolio is most concentrated in Technology at 33% of assets, up from 31% a quarter earlier, followed by Financials and Communication Services.
- State of Michigan Retirement System's largest Q3 2025 buy was Oscar Health: 1,450,000 shares worth $27.4M.
- State of Michigan Retirement System added most to Hims & Hers Health in Q3 2025, an estimated $34.8M increase.
- State of Michigan Retirement System's biggest Q3 2025 reduction was Biogen, cutting an estimated $33.5M.
- State of Michigan Retirement System fully exited Arm in Q3 2025, selling an estimated $20.7M.
- State of Michigan Retirement System's ten largest holdings make up 38% of its $20.8B portfolio in Q3 2025.
- State of Michigan Retirement System opened 20 new positions and closed 20 in Q3 2025.
- State of Michigan Retirement System's portfolio value rose 7.7% quarter-over-quarter to $20.8B.
Based on State of Michigan Retirement System's 13F filing for Q3 2025, filed 5 Nov 2025.