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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
+22.37%
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
$11.4B
AUM Growth
+$2.34B
Cap. Flow
+$480M
Cap. Flow %
4.21%
Top 10 Hldgs %
24.68%
Holding
969
New
26
Increased
830
Reduced
54
Closed
38

Top Buys

Rank Stock Value
1
LQD icon
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
+$178M
2
AGG icon
iShares Core US Aggregate Bond ETF
AGG
+$152M
3
CVS icon
CVS Health
CVS
+$102M
4
RTX icon
RTX Corp
RTX
+$61.1M
5
ETRN
Equitrans Midstream Corporation Common Stock
ETRN
+$51M

Top Sells

Rank Stock Value
1
AGNC icon
AGNC Investment
AGNC
+$197M
2
EXC icon
Exelon
EXC
+$92.1M
3
META icon
Meta Platforms (Facebook)
META
+$85.5M
4
GIS icon
General Mills
GIS
+$45.5M
5
RTN
Raytheon Company
RTN
+$39.1M

Sector Composition

Rank Sector Weight
1 Technology 22.75%
2 Healthcare 13.43%
3 Financials 13.35%
4 Consumer Discretionary 8.62%
5 Communication Services 8.42%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AVY icon
76
Avery Dennison
AVY
$13.4B
$38.9M 0.34%
340,582
+90,056
+36% +$9.89M
FISV
77
Fiserv Inc
FISV
$27.9B
$38.4M 0.34%
393,108
+12,702
+3% +$1.28M
CTSH icon
78
Cognizant
CTSH
$26B
$36.4M 0.32%
641,069
+12,515
+2% +$672K
DVA icon
79
DaVita
DVA
$11.7B
$36.2M 0.32%
457,310
+436,752
+2,124% +$34.1M
HON icon
80
Honeywell
HON
$78B
$35.7M 0.31%
262,094
+88,302
+51% +$11.7M
LLY icon
81
Eli Lilly
LLY
$1.06T
$35.3M 0.31%
215,094
+21,456
+11% +$3.29M
MCD icon
82
McDonald's
MCD
$195B
$35M 0.31%
189,863
+17,206
+10% +$3.15M
FOXA icon
83
Fox Class A
FOXA
$26.9B
$34.9M 0.31%
1,300,694
+1,219,414
+1,500% +$32.9M
COST icon
84
Costco
COST
$420B
$34.2M 0.3%
112,805
+11,569
+11% +$3.52M
BMY icon
85
Bristol-Myers Squibb
BMY
$132B
$34M 0.3%
577,843
+40,474
+8% +$2.42M
AVGO icon
86
Broadcom
AVGO
$2.04T
$32.2M 0.28%
1,020,720
+110,940
+12% +$3.1M
NOW icon
87
ServiceNow
NOW
$129B
$31.9M 0.28%
393,500
+177,500
+82% +$12.5M
MDT icon
88
Medtronic
MDT
$112B
$31.4M 0.28%
342,537
+35,299
+11% +$3.38M
MCO icon
89
Moody's
MCO
$82.7B
$31.3M 0.27%
113,948
+12,033
+12% +$3.06M
BIIB icon
90
Biogen
BIIB
$30.7B
$31.3M 0.27%
116,883
+75,506
+182% +$22.7M
NKE icon
91
Nike
NKE
$61.9B
$31.1M 0.27%
316,740
+31,048
+11% +$2.87M
BRK.A icon
92
Berkshire Hathaway Class A
BRK.A
$1.12T
$31M 0.27%
116
– –
SPNT icon
93
SiriusPoint
SPNT
$2.68B
$30.7M 0.27%
4,085,000
-115,000
-3% -$868K
IQV icon
94
IQVIA
IQV
$39.3B
$30.1M 0.26%
211,904
-37,896
-15% -$5.14M
NEE icon
95
NextEra Energy
NEE
$177B
$30M 0.26%
500,060
+52,168
+12% +$3.12M
TXN icon
96
Texas Instruments
TXN
$261B
$29.8M 0.26%
234,429
+20,111
+9% +$2.35M
CPAY icon
97
Corpay
CPAY
$25.7B
$29.7M 0.26%
117,954
+1,454
+1% +$345K
UNP icon
98
Union Pacific
UNP
$174B
$29.3M 0.26%
173,348
+14,236
+9% +$2.28M
AMT icon
99
American Tower
AMT
$80.4B
$29.3M 0.26%
113,195
+11,669
+11% +$2.89M
LIN icon
100
Linde
LIN
$226B
$28.5M 0.25%
134,164
+11,019
+9% +$2.13M
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 Q2 2020 Portfolio in Review

As of Q2 2020, State of Michigan Retirement System held 969 positions worth $11.4B, up 26% from $9.07B the previous quarter. Its ten largest holdings account for 25% of the portfolio.

State of Michigan Retirement System deployed $480M of net new capital in Q2 2020, opening 26 new positions and adding to 830 existing holdings. Its largest new stake was iShares iBoxx $ Investment Grade Corporate Bond ETF: 1,366,000 shares worth $184M.

By sector, the portfolio is most concentrated in Technology at 23% of assets, up from 20% a quarter earlier, followed by Healthcare and Financials.

On the sell side, the largest reduction was AGNC Investment, an estimated $197M trimmed.

  • State of Michigan Retirement System's largest Q2 2020 buy was iShares iBoxx $ Investment Grade Corporate Bond ETF: 1,366,000 shares worth $184M.
  • State of Michigan Retirement System added most to iShares Core US Aggregate Bond ETF in Q2 2020, an estimated $152M increase.
  • State of Michigan Retirement System's biggest Q2 2020 reduction was AGNC Investment, cutting an estimated $197M.
  • State of Michigan Retirement System fully exited Raytheon Company in Q2 2020, selling an estimated $39.1M.
  • State of Michigan Retirement System's ten largest holdings make up 25% of its $11.4B portfolio in Q2 2020.
  • State of Michigan Retirement System opened 26 new positions and closed 38 in Q2 2020.
  • State of Michigan Retirement System's portfolio value rose 26% quarter-over-quarter to $11.4B.

Based on State of Michigan Retirement System's 13F filing for Q2 2020, filed 29 Jul 2020.