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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
+6.25%
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
$12.6B
AUM Growth
-$76.6M
Cap. Flow
-$520M
Cap. Flow %
-4.13%
Top 10 Hldgs %
25.12%
Holding
984
New
19
Increased
178
Reduced
571
Closed
26

Top Buys

Rank Stock Value
1
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$68.8M
2
STZ icon
Constellation Brands
STZ
+$53.4M
3
AGG icon
iShares Core US Aggregate Bond ETF
AGG
+$49.3M
4
BKNG icon
Booking.com
BKNG
+$35.5M
5
BRK.B icon
Berkshire Hathaway Class B
BRK.B
+$34.7M

Top Sells

Rank Stock Value
1
CSCO icon
Cisco
CSCO
+$96.8M
2
XYZ
Block Inc
XYZ
+$95M
3
WFC icon
Wells Fargo
WFC
+$52M
4
TSCO icon
Tractor Supply
TSCO
+$42.8M
5
REGN icon
Regeneron Pharmaceuticals
REGN
+$32.1M

Sector Composition

Rank Sector Weight
1 Financials 21.22%
2 Technology 13.58%
3 Healthcare 13.28%
4 Communication Services 10.66%
5 Industrials 8.8%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
LLL
976
DELISTED
L3 Technologies, Inc.
LLL
– –
-26,976
Closed -$4.07M
ATHN
977
DELISTED
Athenahealth, Inc.
ATHN
– –
-175,100
Closed -$22.1M
FMI
978
DELISTED
Foundation Medicine, Inc.
FMI
– –
-12,000
Closed -$280K
TLN
979
DELISTED
Talen Energy Corporation
TLN
– –
-34,702
Closed -$481K
IM
980
DELISTED
Ingram Micro
IM
– –
-60,200
Closed -$2.15M
AMSG
981
DELISTED
Amsurg Corp
AMSG
– –
-22,100
Closed -$1.48M
PPS
982
DELISTED
Post Properties
PPS
– –
-21,500
Closed -$1.42M
RAX
983
DELISTED
Rackspace Hosting Inc
RAX
– –
-43,000
Closed -$1.36M
LXK
984
DELISTED
Lexmark Intl Inc
LXK
– –
-25,200
Closed -$1.01M
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 Q4 2016 Portfolio in Review

As of Q4 2016, State of Michigan Retirement System held 984 positions worth $12.6B, down 0.6% from $12.7B the previous quarter. Its ten largest holdings account for 25% of the portfolio.

State of Michigan Retirement System withdrew a net $520M in Q4 2016, closing 26 positions and reducing 571 holdings. Its most notable exit was iShares Core S&P Small-Cap ETF, an estimated $23.1M position sold in full.

By sector, the portfolio is most concentrated in Financials at 21% of assets, up from 19% a quarter earlier, followed by Technology and Healthcare.

Against the trend, State of Michigan Retirement System opened a new position in iShares Core US Aggregate Bond ETF worth $48.6M.

  • State of Michigan Retirement System's largest Q4 2016 buy was iShares Core US Aggregate Bond ETF: 450,000 shares worth $48.6M.
  • State of Michigan Retirement System added most to State Street SPDR S&P 500 ETF Trust in Q4 2016, an estimated $68.8M increase.
  • State of Michigan Retirement System's biggest Q4 2016 reduction was Cisco, cutting an estimated $96.8M.
  • State of Michigan Retirement System fully exited iShares Core S&P Small-Cap ETF in Q4 2016, selling an estimated $23.1M.
  • State of Michigan Retirement System's ten largest holdings make up 25% of its $12.6B portfolio in Q4 2016.
  • State of Michigan Retirement System opened 19 new positions and closed 26 in Q4 2016.
  • State of Michigan Retirement System's portfolio value fell 0.6% quarter-over-quarter to $12.6B.

Based on State of Michigan Retirement System's 13F filing for Q4 2016, filed 2 Feb 2017.