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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
MMM icon
76
3M
MMM
$93.2B
$38M 0.31%
216,567
-18,299
-8% -$3.17M
LYB icon
77
LyondellBasell Industries
LYB
$19.8B
$37.1M 0.3%
374,104
+265,600
+245% +$23.9M
WMT icon
78
Walmart Inc
WMT
$892B
$34.7M 0.28%
1,332,402
-1,229,700
-48% -$32.3M
NVDA icon
79
NVIDIA
NVDA
$5.3T
$32.6M 0.26%
7,283,680
-540,000
-7% -$2.25M
ABMD
80
DELISTED
Abiomed Inc
ABMD
$32.2M 0.26%
190,800
+49,000
+35% +$7.41M
MDT icon
81
Medtronic
MDT
$110B
$32M 0.26%
411,038
-38,800
-9% -$3.22M
BRK.A icon
82
Berkshire Hathaway Class A
BRK.A
$1.13T
$31.9M 0.26%
116
– –
AMAT icon
83
Applied Materials
AMAT
$419B
$31.2M 0.25%
598,409
+245,200
+69% +$11.1M
AVGO icon
84
Broadcom
AVGO
$2T
$29.9M 0.24%
1,233,780
-85,000
-6% -$2.1M
HPQ icon
85
HP
HPQ
$25.8B
$29.9M 0.24%
1,496,225
+943,000
+170% +$18M
CA
86
DELISTED
CA, Inc.
CA
$29.7M 0.24%
890,080
+65,700
+8% +$2.17M
DGX icon
87
Quest Diagnostics
DGX
$26.3B
$29.4M 0.24%
314,263
+269,300
+599% +$28.6M
SLB icon
88
SLB Ltd
SLB
$76.5B
$29.4M 0.24%
421,672
-35,000
-8% -$2.31M
MAN icon
89
ManpowerGroup
MAN
$2.57B
$29.1M 0.24%
247,030
+219,400
+794% +$24.6M
UNP icon
90
Union Pacific
UNP
$175B
$28.2M 0.23%
242,912
-22,500
-8% -$2.41M
CBRE icon
91
CBRE Group
CBRE
$42.7B
$28.1M 0.23%
741,732
+642,900
+650% +$23.7M
UPS icon
92
United Parcel Service
UPS
$87.7B
$27.8M 0.23%
231,686
-331,700
-59% -$37.7M
AX icon
93
Axos Financial
AX
$5.78B
$27.4M 0.22%
961,487
-100,000
-9% -$2.61M
APTV icon
94
Aptiv
APTV
$9.61B
$27.3M 0.22%
277,622
+189,600
+215% +$17.9M
LMT icon
95
Lockheed Martin
LMT
$135B
$26.3M 0.21%
84,618
-79,300
-48% -$23.7M
GS icon
96
Goldman Sachs
GS
$301B
$25.9M 0.21%
109,150
-11,200
-9% -$2.53M
LLY icon
97
Eli Lilly
LLY
$1.06T
$25.2M 0.2%
294,038
-25,100
-8% -$2.06M
BTI icon
98
British American Tobacco
BTI
$127B
$24.6M 0.2%
+393,715
New +$25.4M
EFC
99
Ellington Financial
EFC
$1.65B
$24.4M 0.2%
1,544,778
– –
TNL icon
100
Travel + Leisure Co
TNL
$4.74B
$24.1M 0.2%
506,874
+430,818
+566% +$19.7M
2 3
4
5 6

Similar funds

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 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.