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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
-6.5%
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
$12.9B
AUM Growth
-$1.46B
Cap. Flow
-$408M
Cap. Flow %
-3.16%
Top 10 Hldgs %
25.01%
Holding
989
New
34
Increased
178
Reduced
623
Closed
31

Top Buys

Rank Stock Value
1
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$264M
2
UNP icon
Union Pacific
UNP
+$160M
3
PCG icon
PG&E
PCG
+$112M
4
GILD icon
Gilead Sciences
GILD
+$98.8M
5
PYPL icon
PayPal
PYPL
+$90.9M

Top Sells

Rank Stock Value
1
GOOG icon
Alphabet (Google) Class C
GOOG
+$204M
2
USB icon
US Bancorp
USB
+$192M
3
EG icon
Everest Group
EG
+$151M
4
AZO icon
AutoZone
AZO
+$135M
5
VZ icon
Verizon
VZ
+$88.5M

Sector Composition

Rank Sector Weight
1 Financials 19.02%
2 Healthcare 14.57%
3 Technology 12.45%
4 Industrials 9.73%
5 Consumer Discretionary 9.33%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PLL
976
DELISTED
PALL CORP
PLL
– –
-41,423
Closed -$5.16M
ANN
977
DELISTED
ANN INC
ANN
– –
-21,000
Closed -$1.01M
OCR
978
DELISTED
OMNICARE INC
OCR
– –
-44,130
Closed -$4.16M
INFA
979
DELISTED
INFORMATICA CORP
INFA
– –
-47,700
Closed -$2.31M
DTV
980
DELISTED
DIRECTV COM STK (DE)
DTV
– –
-484,308
Closed -$44.9M
ROSE
981
DELISTED
ROSETTA RESOURCES INC
ROSE
– –
-34,500
Closed -$798K
ANR
982
DELISTED
Alpha Natural Resources Inc
ANR
– –
-3,850,000
Closed -$1.16M
ADVS
983
DELISTED
Advent Software Inc
ADVS
– –
-20,600
Closed -$911K
KRFT
984
DELISTED
KRAFT FOODS GROUP INC COM STK (VA)
KRFT
– –
-229,702
Closed -$19.6M
FDO
985
DELISTED
FAMILY DOLLAR STORES
FDO
– –
-37,247
Closed -$2.94M
RKT
986
DELISTED
ROCK-TENN COMPANY CL-A
RKT
– –
-63,400
Closed -$3.82M
MWV
987
DELISTED
MEADWESTVACO CORP
MWV
– –
-65,106
Closed -$3.07M
DRC
988
DELISTED
DRESSER-RAND GROUP INC
DRC
– –
-35,000
Closed -$2.98M
MDVN
989
DELISTED
MEDIVATION, INC.
MDVN
– –
-394,000
Closed -$22.5M
36 37 38 39
40

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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 2015 Portfolio in Review

As of Q3 2015, State of Michigan Retirement System held 989 positions worth $12.9B, down 10% from $14.4B the previous quarter. Its ten largest holdings account for 25% of the portfolio.

State of Michigan Retirement System withdrew a net $408M in Q3 2015, closing 31 positions and reducing 623 holdings. Its most notable exit was Alphabet (Google) Class C, an estimated $204M 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 Healthcare and Technology.

Against the trend, State of Michigan Retirement System opened a new position in PayPal worth $78.8M.

  • State of Michigan Retirement System's largest Q3 2015 buy was PayPal: 2,537,386 shares worth $78.8M.
  • State of Michigan Retirement System added most to State Street SPDR S&P 500 ETF Trust in Q3 2015, an estimated $264M increase.
  • State of Michigan Retirement System's biggest Q3 2015 reduction was US Bancorp, cutting an estimated $192M.
  • State of Michigan Retirement System fully exited Alphabet (Google) Class C in Q3 2015, selling an estimated $204M.
  • State of Michigan Retirement System's ten largest holdings make up 25% of its $12.9B portfolio in Q3 2015.
  • State of Michigan Retirement System opened 34 new positions and closed 31 in Q3 2015.
  • State of Michigan Retirement System's portfolio value fell 10% quarter-over-quarter to $12.9B.

Based on State of Michigan Retirement System's 13F filing for Q3 2015, filed 30 Oct 2015.