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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
Cap. Flow
-$1.06B
Cap. Flow %
-6.11%
Top 10 Hldgs %
32.47%
Holding
963
New
12
Increased
395
Reduced
310
Closed
19

Top Buys

Rank Stock Value
1
JPM icon
JPMorgan Chase
JPM
+$35M
2
AVGO icon
Broadcom
AVGO
+$34.7M
3
VRT icon
Vertiv
VRT
+$18.2M
4
XYZ
Block Inc
XYZ
+$17.4M
5
DASH icon
DoorDash
DASH
+$17.3M

Top Sells

Rank Stock Value
1
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$585M
2
CVS icon
CVS Health
CVS
+$190M
3
T icon
AT&T
T
+$153M
4
IJH icon
iShares Core S&P Mid-Cap ETF
IJH
+$43M
5
MSFT icon
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
GEHC icon
76
GE HealthCare
GEHC
$32.8B
$41.5M 0.24%
514,053
+40,100
+8% +$3.45M
ICE icon
77
Intercontinental Exchange
ICE
$85.3B
$41.3M 0.24%
239,442
– –
UBER icon
78
Uber
UBER
$158B
$41.3M 0.24%
566,700
-4,800
-0.8% -$346K
BKNG icon
79
Booking.com
BKNG
$159B
$41.3M 0.24%
223,975
– –
AXP icon
80
American Express
AXP
$229B
$40.5M 0.23%
150,577
-500
-0.3% -$148K
CMCSA icon
81
Comcast
CMCSA
$88.6B
$40.3M 0.23%
1,093,489
-12,800
-1% -$462K
C icon
82
Citigroup
C
$227B
$40.3M 0.23%
568,336
-4,100
-0.7% -$313K
BSX icon
83
Boston Scientific
BSX
$73B
$40.3M 0.23%
399,808
-200
-0% -$20.1K
COP icon
84
ConocoPhillips
COP
$146B
$40M 0.23%
381,328
-5,000
-1% -$499K
BLK icon
85
Blackrock
BLK
$175B
$39.5M 0.23%
41,771
– –
AMAT icon
86
Applied Materials
AMAT
$424B
$39.4M 0.23%
271,555
-3,200
-1% -$538K
MS icon
87
Morgan Stanley
MS
$340B
$39.2M 0.23%
335,726
-1,000
-0.3% -$129K
UNP icon
88
Union Pacific
UNP
$174B
$38.7M 0.22%
163,945
-600
-0.4% -$144K
ADP icon
89
Automatic Data Processing
ADP
$108B
$38M 0.22%
124,303
-200
-0.2% -$60.3K
GILD icon
90
Gilead Sciences
GILD
$166B
$37.9M 0.22%
338,095
-200
-0.1% -$20.6K
BMY icon
91
Bristol-Myers Squibb
BMY
$132B
$37.4M 0.22%
613,133
– –
HON icon
92
Honeywell
HON
$77.2B
$37.4M 0.22%
187,176
-106
-0.1% -$21.4K
SCHW
93
Charles Schwab
SCHW
$189B
$36.2M 0.21%
462,266
+56,500
+14% +$4.43M
LOW icon
94
Lowe's Companies
LOW
$123B
$35.7M 0.21%
153,170
-800
-0.5% -$197K
DHR icon
95
Danaher
DHR
$145B
$35.6M 0.21%
173,646
-800
-0.5% -$175K
INTC icon
96
Intel
INTC
$494B
$35.4M 0.2%
1,560,483
+4,100
+0.3% +$89.7K
VRTX icon
97
Vertex Pharmaceuticals
VRTX
$135B
$35M 0.2%
72,123
-300
-0.4% -$140K
BA icon
98
Boeing
BA
$186B
$34.7M 0.2%
203,496
+600
+0.3% +$104K
SYK icon
99
Stryker
SYK
$130B
$34.7M 0.2%
93,199
+100
+0.1% +$38.1K
TMUS icon
100
T-Mobile US
TMUS
$187B
$34.7M 0.2%
130,041
-2,200
-2% -$542K
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 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.