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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
Cap. Flow
-$404M
Cap. Flow %
-2.4%
Top 10 Hldgs %
34.1%
Holding
982
New
18
Increased
351
Reduced
406
Closed
24

Top Buys

Rank Stock Value
1
ADBE icon
Adobe
ADBE
+$53.6M
2
AGG icon
iShares Core US Aggregate Bond ETF
AGG
+$48.5M
3
UBER icon
Uber
UBER
+$29.6M
4
META icon
Meta Platforms (Facebook)
META
+$22.1M
5
DIS icon
Walt Disney
DIS
+$22M

Top Sells

Rank Stock Value
1
LQD icon
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
+$96.3M
2
APO icon
Apollo Global Management
APO
+$92.6M
3
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$89.3M
4
TDOC icon
Teladoc Health
TDOC
+$55.9M
5
OMF icon
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
SPGI icon
76
S&P Global
SPGI
$120B
$39.1M 0.23%
88,753
-500
-0.6% -$197K
GE icon
77
GE Aerospace
GE
$384B
$38M 0.23%
373,345
-24,183
-6% -$2.24M
HON icon
78
Honeywell
HON
$78B
$37.9M 0.23%
191,526
-1,592
-0.8% -$287K
GS icon
79
Goldman Sachs
GS
$303B
$36.9M 0.22%
95,573
-2,100
-2% -$701K
RTX icon
80
RTX Corp
RTX
$301B
$36.4M 0.22%
432,232
+1,400
+0.3% +$111K
PLD icon
81
Prologis
PLD
$133B
$35.6M 0.21%
267,018
+900
+0.3% +$102K
LOW icon
82
Lowe's Companies
LOW
$125B
$35.2M 0.21%
157,970
-2,700
-2% -$547K
UBER icon
83
Uber
UBER
$153B
$34.9M 0.21%
+566,117
New +$29.6M
XLV icon
84
State Street Health Care Select Sector SPDR ETF
XLV
$43.3B
$34.1M 0.2%
250,288
+24,200
+11% +$3.15M
NEE icon
85
NextEra Energy
NEE
$177B
$34.1M 0.2%
561,698
+6,900
+1% +$393K
BKNG icon
86
Booking.com
BKNG
$161B
$33.9M 0.2%
238,975
-5,000
-2% -$624K
ICE icon
87
Intercontinental Exchange
ICE
$84.4B
$33.4M 0.2%
260,242
-200
-0.1% -$22.7K
BLK icon
88
Blackrock
BLK
$176B
$33.1M 0.2%
40,771
– –
VLUE icon
89
iShares MSCI USA Value Factor ETF
VLUE
$9.47B
$32.7M 0.19%
323,500
+28,700
+10% +$2.67M
ELV icon
90
Elevance Health
ELV
$85.5B
$32.7M 0.19%
69,351
-100
-0.1% -$46.2K
MS icon
91
Morgan Stanley
MS
$340B
$32.3M 0.19%
346,026
-3,700
-1% -$296K
CVS icon
92
CVS Health
CVS
$122B
$32.1M 0.19%
406,077
-397,600
-49% -$28.3M
BMY icon
93
Bristol-Myers Squibb
BMY
$132B
$32M 0.19%
624,333
-709,100
-53% -$37.2M
QUAL icon
94
iShares MSCI USA Quality Factor ETF
QUAL
$48.1B
$31.8M 0.19%
215,950
+20,800
+11% +$2.88M
UPS icon
95
United Parcel Service
UPS
$88.9B
$31.1M 0.19%
198,014
-300
-0.2% -$45.4K
C icon
96
Citigroup
C
$226B
$30.5M 0.18%
592,136
-19,800
-3% -$877K
LMT icon
97
Lockheed Martin
LMT
$136B
$30.2M 0.18%
66,718
-700
-1% -$310K
APH icon
98
Amphenol
APH
$209B
$30.1M 0.18%
608,074
+400
+0.1% +$17.7K
LRCX icon
99
Lam Research
LRCX
$390B
$30.1M 0.18%
383,800
-6,000
-2% -$409K
SBUX icon
100
Starbucks
SBUX
$120B
$30M 0.18%
312,859
-1,100
-0.4% -$107K
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 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.