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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
+22.37%
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
$11.4B
AUM Growth
+$2.34B
Cap. Flow
+$480M
Cap. Flow %
4.21%
Top 10 Hldgs %
24.68%
Holding
969
New
26
Increased
830
Reduced
54
Closed
38

Top Buys

Rank Stock Value
1
LQD icon
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
+$178M
2
AGG icon
iShares Core US Aggregate Bond ETF
AGG
+$152M
3
CVS icon
CVS Health
CVS
+$102M
4
RTX icon
RTX Corp
RTX
+$61.1M
5
ETRN
Equitrans Midstream Corporation Common Stock
ETRN
+$51M

Top Sells

Rank Stock Value
1
AGNC icon
AGNC Investment
AGNC
+$197M
2
EXC icon
Exelon
EXC
+$92.1M
3
META icon
Meta Platforms (Facebook)
META
+$85.5M
4
GIS icon
General Mills
GIS
+$45.5M
5
RTN
Raytheon Company
RTN
+$39.1M

Sector Composition

Rank Sector Weight
1 Technology 22.75%
2 Healthcare 13.43%
3 Financials 13.35%
4 Consumer Discretionary 8.62%
5 Communication Services 8.42%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
DHR icon
101
Danaher
DHR
$144B
$28.4M 0.25%
181,312
+16,097
+10% +$2.31M
NGHC
102
DELISTED
National General Holdings Corp
NGHC
$28.1M 0.25%
1,300,000
– –
LHX icon
103
L3Harris
LHX
$53.4B
$28M 0.25%
165,134
-35,517
-18% -$6.67M
IJH icon
104
iShares Core S&P Mid-Cap ETF
IJH
$127B
$27.9M 0.24%
784,765
-7,690
-1% -$255K
C icon
105
Citigroup
C
$226B
$27.2M 0.24%
531,714
+31,258
+6% +$1.48M
LOW icon
106
Lowe's Companies
LOW
$125B
$26.1M 0.23%
192,873
+17,198
+10% +$1.96M
BA icon
107
Boeing
BA
$185B
$25.1M 0.22%
136,871
+14,221
+12% +$2.19M
GILD icon
108
Gilead Sciences
GILD
$165B
$24.6M 0.22%
320,260
-485,664
-60% -$37.2M
NLSN
109
DELISTED
Nielsen Holdings plc
NLSN
$24.2M 0.21%
1,625,956
+1,544,412
+1,894% +$21.6M
KEYS icon
110
Keysight
KEYS
$58.3B
$24M 0.21%
237,802
-45,198
-16% -$4.44M
PRSP
111
DELISTED
Perspecta Inc. Common Stock
PRSP
$23.9M 0.21%
1,028,353
+990,153
+2,592% +$21.6M
XYZ
112
Block Inc
XYZ
$47.5B
$23.1M 0.2%
+220,000
New +$16.8M
MMM icon
113
3M
MMM
$94.3B
$22.9M 0.2%
175,661
+18,057
+11% +$2.28M
SBUX icon
114
Starbucks
SBUX
$120B
$22M 0.19%
298,342
+27,582
+10% +$2.07M
BLK icon
115
Blackrock
BLK
$176B
$21.4M 0.19%
39,398
+12,418
+46% +$6.27M
DLX icon
116
Deluxe
DLX
$1.15B
$20.9M 0.18%
888,360
+876,698
+7,518% +$22M
UPS icon
117
United Parcel Service
UPS
$88.9B
$20M 0.18%
179,819
+19,133
+12% +$1.91M
INTU icon
118
Intuit
INTU
$89B
$19.7M 0.17%
66,648
+6,964
+12% +$1.91M
CHTR icon
119
Charter Communications
CHTR
$18.2B
$19.6M 0.17%
38,516
+2,616
+7% +$1.33M
TWO
120
Two Harbors Investment
TWO
$1.27B
$19.2M 0.17%
950,000
-1,832,886
-66% -$34M
UTHR icon
121
United Therapeutics
UTHR
$23.1B
$18.9M 0.17%
156,493
+144,293
+1,183% +$16.2M
MDLZ icon
122
Mondelez International
MDLZ
$79.9B
$18.6M 0.16%
364,603
+34,547
+10% +$1.77M
BDX icon
123
Becton Dickinson
BDX
$48.2B
$18M 0.16%
77,179
+13,575
+21% +$3.27M
CCI icon
124
Crown Castle
CCI
$32.2B
$17.8M 0.16%
106,407
+11,083
+12% +$1.79M
CI icon
125
Cigna
CI
$74.6B
$17.7M 0.16%
94,274
+8,704
+10% +$1.65M
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 Q2 2020 Portfolio in Review

As of Q2 2020, State of Michigan Retirement System held 969 positions worth $11.4B, up 26% from $9.07B the previous quarter. Its ten largest holdings account for 25% of the portfolio.

State of Michigan Retirement System deployed $480M of net new capital in Q2 2020, opening 26 new positions and adding to 830 existing holdings. Its largest new stake was iShares iBoxx $ Investment Grade Corporate Bond ETF: 1,366,000 shares worth $184M.

By sector, the portfolio is most concentrated in Technology at 23% of assets, up from 20% a quarter earlier, followed by Healthcare and Financials.

On the sell side, the largest reduction was AGNC Investment, an estimated $197M trimmed.

  • State of Michigan Retirement System's largest Q2 2020 buy was iShares iBoxx $ Investment Grade Corporate Bond ETF: 1,366,000 shares worth $184M.
  • State of Michigan Retirement System added most to iShares Core US Aggregate Bond ETF in Q2 2020, an estimated $152M increase.
  • State of Michigan Retirement System's biggest Q2 2020 reduction was AGNC Investment, cutting an estimated $197M.
  • State of Michigan Retirement System fully exited Raytheon Company in Q2 2020, selling an estimated $39.1M.
  • State of Michigan Retirement System's ten largest holdings make up 25% of its $11.4B portfolio in Q2 2020.
  • State of Michigan Retirement System opened 26 new positions and closed 38 in Q2 2020.
  • State of Michigan Retirement System's portfolio value rose 26% quarter-over-quarter to $11.4B.

Based on State of Michigan Retirement System's 13F filing for Q2 2020, filed 29 Jul 2020.