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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
+5.02%
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
$12.4B
AUM Growth
-$886M
Cap. Flow
-$1.43B
Cap. Flow %
-11.61%
Top 10 Hldgs %
23.49%
Holding
969
New
21
Increased
50
Reduced
850
Closed
25

Top Buys

Rank Stock Value
1
AGNC icon
AGNC Investment
AGNC
+$128M
2
ALLY icon
Ally Financial
ALLY
+$52.1M
3
MCHP icon
Microchip Technology
MCHP
+$29.8M
4
DGX icon
Quest Diagnostics
DGX
+$28.6M
5
CVS icon
CVS Health
CVS
+$26.6M

Top Sells

Rank Stock Value
1
JPM icon
JPMorgan Chase
JPM
+$200M
2
AAPL icon
Apple
AAPL
+$187M
3
WTW icon
Willis Towers Watson
WTW
+$147M
4
GILD icon
Gilead Sciences
GILD
+$84.4M
5
BRK.B icon
Berkshire Hathaway Class B
BRK.B
+$60.2M

Sector Composition

Rank Sector Weight
1 Financials 19.42%
2 Technology 14.12%
3 Healthcare 14.08%
4 Communication Services 10.65%
5 Industrials 8.2%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NFLX icon
101
Netflix
NFLX
$307B
$23.8M 0.19%
1,310,340
-106,000
-7% -$1.85M
SBUX icon
102
Starbucks
SBUX
$120B
$23.5M 0.19%
438,160
-37,800
-8% -$2.09M
QCOM icon
103
Qualcomm
QCOM
$169B
$23.2M 0.19%
448,371
-438,100
-49% -$23.2M
CAT icon
104
Caterpillar
CAT
$399B
$22.4M 0.18%
179,366
-14,300
-7% -$1.65M
CHTR icon
105
Charter Communications
CHTR
$18.7B
$22.2M 0.18%
61,000
-9,900
-14% -$3.68M
PYPL icon
106
PayPal
PYPL
$50.8B
$22M 0.18%
342,934
-24,200
-7% -$1.45M
COST icon
107
Costco
COST
$419B
$21.9M 0.18%
133,136
-11,000
-8% -$1.73M
WBA
108
DELISTED
Walgreens Boots Alliance
WBA
$21.6M 0.17%
279,261
-1,400
-0.5% -$112K
LOW icon
109
Lowe's Companies
LOW
$122B
$21.5M 0.17%
268,925
-25,800
-9% -$1.98M
NEE icon
110
NextEra Energy
NEE
$176B
$20.8M 0.17%
568,292
-47,200
-8% -$1.73M
AGN
111
DELISTED
Allergan plc
AGN
$20.8M 0.17%
101,456
-8,900
-8% -$2.07M
MS icon
112
Morgan Stanley
MS
$338B
$20.7M 0.17%
429,155
-39,000
-8% -$1.81M
NKE icon
113
Nike
NKE
$62.4B
$20.7M 0.17%
398,692
-36,800
-8% -$2.07M
DUK icon
114
Duke Energy
DUK
$96.5B
$20.3M 0.16%
241,684
-114,000
-32% -$9.76M
CB icon
115
Chubb
CB
$136B
$20.1M 0.16%
141,277
-12,200
-8% -$1.77M
BIIB icon
116
Biogen
BIIB
$30.5B
$20.1M 0.16%
64,177
-6,000
-9% -$1.78M
PNC icon
117
PNC Financial Services
PNC
$101B
$19.6M 0.16%
145,376
-13,700
-9% -$1.76M
CL icon
118
Colgate-Palmolive
CL
$73.8B
$19.5M 0.16%
267,284
-415,400
-61% -$29.9M
FSLR icon
119
First Solar
FSLR
$26.5B
$19.4M 0.16%
422,773
-331,600
-44% -$15.4M
CRM icon
120
Salesforce
CRM
$152B
$19.4M 0.16%
207,156
-12,600
-6% -$1.16M
MCO icon
121
Moody's
MCO
$81.7B
$19.3M 0.16%
138,915
-20,100
-13% -$2.64M
MDLZ icon
122
Mondelez International
MDLZ
$80.1B
$18.6M 0.15%
457,456
-41,200
-8% -$1.75M
COP icon
123
ConocoPhillips
COP
$142B
$18.5M 0.15%
369,255
-37,300
-9% -$1.68M
AMT icon
124
American Tower
AMT
$79.9B
$17.8M 0.14%
130,226
-9,500
-7% -$1.32M
TPR icon
125
Tapestry
TPR
$32.8B
$17.6M 0.14%
435,747
-6,600
-1% -$291K
3 4
5
6 7

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 Q3 2017 Portfolio in Review

As of Q3 2017, State of Michigan Retirement System held 969 positions worth $12.4B, down 6.7% from $13.2B the previous quarter. Its ten largest holdings account for 23% of the portfolio.

State of Michigan Retirement System withdrew a net $1.43B in Q3 2017, closing 25 positions and reducing 850 holdings. Its most notable exit was Reynolds American Inc, an estimated $36.2M 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 Technology and Healthcare.

Against the trend, State of Michigan Retirement System opened a new position in British American Tobacco worth $24.6M.

  • State of Michigan Retirement System's largest Q3 2017 buy was British American Tobacco: 393,715 shares worth $24.6M.
  • State of Michigan Retirement System added most to AGNC Investment in Q3 2017, an estimated $128M increase.
  • State of Michigan Retirement System's biggest Q3 2017 reduction was JPMorgan Chase, cutting an estimated $200M.
  • State of Michigan Retirement System fully exited Reynolds American Inc in Q3 2017, selling an estimated $36.2M.
  • State of Michigan Retirement System's ten largest holdings make up 23% of its $12.4B portfolio in Q3 2017.
  • State of Michigan Retirement System opened 21 new positions and closed 25 in Q3 2017.
  • State of Michigan Retirement System's portfolio value fell 6.7% quarter-over-quarter to $12.4B.

Based on State of Michigan Retirement System's 13F filing for Q3 2017, filed 19 Oct 2017.