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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
+10.58%
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
$19.1B
AUM Growth
+$1.49B
Cap. Flow
-$61.6M
Cap. Flow %
-0.32%
Top 10 Hldgs %
34.97%
Holding
1,006
New
31
Increased
699
Reduced
152
Closed
31

Top Buys

Rank Stock Value
1
T icon
AT&T
T
+$309M
2
BMY icon
Bristol-Myers Squibb
BMY
+$36.8M
3
GNRC icon
Generac Holdings
GNRC
+$27.9M
4
LYV icon
Live Nation Entertainment
LYV
+$27M
5
AGG icon
iShares Core US Aggregate Bond ETF
AGG
+$24.9M

Top Sells

Rank Stock Value
1
QUAL icon
iShares MSCI USA Quality Factor ETF
QUAL
+$169M
2
VLUE icon
iShares MSCI USA Value Factor ETF
VLUE
+$160M
3
UGI icon
UGI
UGI
+$136M
4
LQD icon
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
+$125M
5
ARI
Apollo Commercial Real Estate
ARI
+$81M

Sector Composition

Rank Sector Weight
1 Technology 21.84%
2 Healthcare 12.35%
3 Communication Services 10.38%
4 Financials 10.3%
5 Consumer Discretionary 8.67%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ABNB icon
976
Airbnb
ABNB
$107B
– –
-6,831
Closed -$1.15M
AMPL icon
977
Amplitude
AMPL
$1.41B
– –
-54,208
Closed -$2.95M
ARI
978
Apollo Commercial Real Estate
ARI
$885M
– –
-5,459,968
Closed -$81M
AVTR icon
979
Avantor
AVTR
$9.19B
– –
-84,000
Closed -$3.44M
CRSP icon
980
CRISPR Therapeutics
CRSP
$5.17B
– –
-32,386
Closed -$3.63M
CRWD icon
981
CrowdStrike
CRWD
$218B
– –
-25,336
Closed -$1.56M
DBX icon
982
Dropbox
DBX
$8.12B
– –
-33,459
Closed -$978K
EBS icon
983
Emergent Biosolutions
EBS
$248M
– –
-12,000
Closed -$601K
EFC
984
Ellington Financial
EFC
$1.71B
– –
-1,218,930
Closed -$22.3M
EWT icon
985
iShares MSCI Taiwan ETF
EWT
$11.1B
– –
-118,008
Closed -$7.32M
GPMT
986
Granite Point Mortgage Trust
GPMT
$61.2M
– –
-1,600,000
Closed -$21.1M
OPLN
987
Openlane
OPLN
$4.54B
– –
-29,890
Closed -$490K
NKTR icon
988
Nektar Therapeutics
NKTR
$2.58B
– –
-3,071
Closed -$827K
NTCT icon
989
NETSCOUT
NTCT
$2.79B
– –
-18,587
Closed -$501K
PATH icon
990
UiPath
PATH
$7.8B
– –
-141,887
Closed -$7.46M
PUBM icon
991
PubMatic
PUBM
$810M
– –
-10,461
Closed -$276K
SPH icon
992
Suburban Propane Partners
SPH
$1.18B
– –
-610,000
Closed -$9.36M
SPNT icon
993
SiriusPoint
SPNT
$2.68B
– –
-1,930,000
Closed -$17.9M
TCPC icon
994
BlackRock TCP Capital
TCPC
$345M
– –
-1,320,000
Closed -$17.9M
TDS icon
995
Telephone and Data Systems
TDS
$3.75B
– –
-24,774
Closed -$483K
TREE icon
996
LendingTree
TREE
$451M
– –
-2,868
Closed -$401K
UPST icon
997
Upstart Holdings
UPST
$3.03B
– –
-51,885
Closed -$16.4M
VEEV icon
998
Veeva Systems
VEEV
$37.4B
– –
-1,000
Closed -$288K
WRBY icon
999
Warby Parker
WRBY
$3.27B
– –
-57,238
Closed -$3.04M
XLF icon
1000
State Street Financial Select Sector SPDR ETF
XLF
$58.8B
– –
-365,417
Closed -$13.7M
37 38 39
40
41

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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)
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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 2021 Portfolio in Review

As of Q4 2021, State of Michigan Retirement System held 1,006 positions worth $19.1B, up 8.5% from $17.6B the previous quarter. Its ten largest holdings account for 35% of the portfolio.

State of Michigan Retirement System's Q4 2021 filing shows 31 new, 699 increased, 152 reduced and 31 closed positions. Its largest new stake was WNS Holdings: 143,000 shares worth $12.6M. The largest sale was iShares MSCI USA Quality Factor ETF, an estimated $169M.

By sector, the portfolio is most concentrated in Technology at 22% of assets, up from 19% a quarter earlier, followed by Healthcare and Communication Services.

  • State of Michigan Retirement System's largest Q4 2021 buy was WNS Holdings: 143,000 shares worth $12.6M.
  • State of Michigan Retirement System added most to AT&T in Q4 2021, an estimated $309M increase.
  • State of Michigan Retirement System's biggest Q4 2021 reduction was iShares MSCI USA Quality Factor ETF, cutting an estimated $169M.
  • State of Michigan Retirement System fully exited Apollo Commercial Real Estate in Q4 2021, selling an estimated $81M.
  • State of Michigan Retirement System's ten largest holdings make up 35% of its $19.1B portfolio in Q4 2021.
  • State of Michigan Retirement System opened 31 new positions and closed 31 in Q4 2021.
  • State of Michigan Retirement System's portfolio value rose 8.5% quarter-over-quarter to $19.1B.

Based on State of Michigan Retirement System's 13F filing for Q4 2021, filed 27 Jan 2022.