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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
+0.37%
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
$17.6B
AUM Growth
+$549M
Cap. Flow
+$643M
Cap. Flow %
3.66%
Top 10 Hldgs %
33.38%
Holding
997
New
28
Increased
217
Reduced
551
Closed
22

Top Buys

Rank Stock Value
1
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$1.5B
2
VLUE icon
iShares MSCI USA Value Factor ETF
VLUE
+$178M
3
QUAL icon
iShares MSCI USA Quality Factor ETF
QUAL
+$175M
4
MTUM icon
iShares MSCI USA Momentum Factor ETF
MTUM
+$162M
5
BMY icon
Bristol-Myers Squibb
BMY
+$92.6M

Top Sells

Rank Stock Value
1
AAPL icon
Apple
AAPL
+$110M
2
MSFT icon
Microsoft
MSFT
+$76.9M
3
MS icon
Morgan Stanley
MS
+$66.1M
4
SPG icon
Simon Property Group
SPG
+$65.1M
5
CSCO icon
Cisco
CSCO
+$61M

Sector Composition

Rank Sector Weight
1 Technology 19.41%
2 Healthcare 11.8%
3 Financials 11.02%
4 Communication Services 9.45%
5 Consumer Discretionary 8.27%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ALGT icon
976
Allegiant Air
ALGT
$2.57B
– –
-120,000
Closed -$23.3M
CVSA
977
Covista Inc
CVSA
$4.8B
– –
-12,445
Closed -$444K
AZEK
978
DELISTED
The AZEK Co
AZEK
– –
-320,000
Closed -$13.6M
BILL icon
979
BILL Holdings
BILL
$4.78B
– –
-3,277
Closed -$600K
CNK icon
980
Cinemark Holdings
CNK
$4.32B
– –
-27,396
Closed -$601K
DKNG icon
981
DraftKings
DKNG
$11.9B
– –
-270,000
Closed -$14.1M
HCSG icon
982
Healthcare Services Group
HCSG
$1.53B
– –
-18,788
Closed -$593K
IYM icon
983
iShares US Basic Materials ETF
IYM
$1.02B
– –
-70,000
Closed -$9.13M
LDI icon
984
loanDepot
LDI
$516M
– –
-464,010
Closed -$5.96M
LGND icon
985
Ligand Pharmaceuticals
LGND
$6.36B
– –
-6,765
Closed -$554K
PRGS icon
986
Progress Software
PRGS
$1.76B
– –
-583,400
Closed -$27M
REZI icon
987
Resideo Technologies
REZI
$3.95B
– –
-423,800
Closed -$12.7M
STRA icon
988
Strategic Education
STRA
$1.92B
– –
-6,200
Closed -$472K
THS
989
DELISTED
Treehouse Foods
THS
– –
-14,135
Closed -$629K
TRMK icon
990
Trustmark
TRMK
$2.75B
– –
-15,992
Closed -$493K
WKC icon
991
World Kinect Corp
WKC
$1.86B
– –
-15,887
Closed -$504K
WOLF icon
992
Wolfspeed
WOLF
$1.71B
– –
-29,091
Closed -$2.85M
WW
993
DELISTED
WW International
WW
– –
-12,082
Closed -$437K
MXIM
994
DELISTED
Maxim Integrated Products
MXIM
– –
-69,558
Closed -$7.33M
WRI
995
DELISTED
Weingarten Realty Investors
WRI
– –
-30,227
Closed -$969K
ALXN
996
DELISTED
Alexion Pharmaceuticals
ALXN
– –
-57,961
Closed -$10.6M
PRAH
997
DELISTED
PRA Health Sciences, Inc.
PRAH
– –
-16,297
Closed -$2.69M
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 2021 Portfolio in Review

As of Q3 2021, State of Michigan Retirement System held 997 positions worth $17.6B, up 3.2% from $17B the previous quarter. Its ten largest holdings account for 33% of the portfolio.

State of Michigan Retirement System deployed $643M of net new capital in Q3 2021, opening 28 new positions and adding to 217 existing holdings. Its largest new stake was Moderna: 88,200 shares worth $33.9M.

By sector, the portfolio is most concentrated in Technology at 19% of assets, down from 23% a quarter earlier, followed by Healthcare and Financials.

On the sell side, the largest reduction was Apple, an estimated $110M trimmed.

  • State of Michigan Retirement System's largest Q3 2021 buy was Moderna: 88,200 shares worth $33.9M.
  • State of Michigan Retirement System added most to State Street SPDR S&P 500 ETF Trust in Q3 2021, an estimated $1.5B increase.
  • State of Michigan Retirement System's biggest Q3 2021 reduction was Apple, cutting an estimated $110M.
  • State of Michigan Retirement System fully exited Progress Software in Q3 2021, selling an estimated $27M.
  • State of Michigan Retirement System's ten largest holdings make up 33% of its $17.6B portfolio in Q3 2021.
  • State of Michigan Retirement System opened 28 new positions and closed 22 in Q3 2021.
  • State of Michigan Retirement System's portfolio value rose 3.2% quarter-over-quarter to $17.6B.

Based on State of Michigan Retirement System's 13F filing for Q3 2021, filed 27 Oct 2021.