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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
+12.86%
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
$16.8B
AUM Growth
+$1.35B
Cap. Flow
-$404M
Cap. Flow %
-2.4%
Top 10 Hldgs %
34.1%
Holding
982
New
18
Increased
351
Reduced
406
Closed
24

Top Buys

Rank Stock Value
1
ADBE icon
Adobe
ADBE
+$53.6M
2
AGG icon
iShares Core US Aggregate Bond ETF
AGG
+$48.5M
3
UBER icon
Uber
UBER
+$29.6M
4
META icon
Meta Platforms (Facebook)
META
+$22.1M
5
DIS icon
Walt Disney
DIS
+$22M

Top Sells

Rank Stock Value
1
LQD icon
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
+$96.3M
2
APO icon
Apollo Global Management
APO
+$92.6M
3
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$89.3M
4
TDOC icon
Teladoc Health
TDOC
+$55.9M
5
OMF icon
OneMain Financial
OMF
+$39.2M

Sector Composition

Rank Sector Weight
1 Technology 25.35%
2 Financials 11.06%
3 Communication Services 10.3%
4 Healthcare 9.58%
5 Consumer Discretionary 9.02%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MDT icon
101
Medtronic
MDT
$112B
$30M 0.18%
364,298
-600
-0.2% -$45.7K
GILD icon
102
Gilead Sciences
GILD
$165B
$29.9M 0.18%
368,743
-1,900
-0.5% -$148K
VRTX icon
103
Vertex Pharmaceuticals
VRTX
$126B
$29.7M 0.18%
73,023
+100
+0.1% +$36.9K
AXP icon
104
American Express
AXP
$230B
$29.5M 0.18%
157,577
-1,900
-1% -$306K
ADP icon
105
Automatic Data Processing
ADP
$108B
$29.5M 0.18%
126,603
+500
+0.4% +$116K
TJX icon
106
TJX Companies
TJX
$178B
$29.4M 0.17%
313,182
-1,900
-0.6% -$170K
DE icon
107
Deere & Co
DE
$168B
$29.3M 0.17%
73,357
-1,400
-2% -$528K
TSM icon
108
TSMC
TSM
$2.18T
$29.3M 0.17%
281,600
– –
SCHW
109
Charles Schwab
SCHW
$187B
$28M 0.17%
407,466
-200
-0% -$11.6K
SYK icon
110
Stryker
SYK
$130B
$27.7M 0.17%
92,599
-100
-0.1% -$28.1K
AMT icon
111
American Tower
AMT
$80.4B
$27.5M 0.16%
127,584
-200
-0.2% -$37.8K
MRSH
112
Marsh
MRSH
$91.5B
$27.1M 0.16%
143,075
-200
-0.1% -$38.6K
ADI icon
113
Analog Devices
ADI
$190B
$27.1M 0.16%
136,455
-1,000
-0.7% -$179K
MDLZ icon
114
Mondelez International
MDLZ
$79.9B
$27M 0.16%
372,470
-500
-0.1% -$34.3K
CI icon
115
Cigna
CI
$74.6B
$26.6M 0.16%
88,941
-1,800
-2% -$526K
ETN icon
116
Eaton
ETN
$174B
$26.3M 0.16%
109,356
– –
REGN icon
117
Regeneron Pharmaceuticals
REGN
$80.8B
$25.8M 0.15%
29,321
-676
-2% -$557K
ZTS icon
118
Zoetis
ZTS
$30B
$25.7M 0.15%
130,364
– –
MU icon
119
Micron Technology
MU
$991B
$25.7M 0.15%
300,642
-86,872
-22% -$6.45M
PGR icon
120
Progressive
PGR
$125B
$25.5M 0.15%
160,188
-300
-0.2% -$47K
BX icon
121
Blackstone
BX
$110B
$25.5M 0.15%
194,500
-100
-0.1% -$10.8K
CB icon
122
Chubb
CB
$135B
$25.2M 0.15%
111,687
-900
-0.8% -$197K
BSX icon
123
Boston Scientific
BSX
$71.5B
$23.2M 0.14%
400,908
-500
-0.1% -$26.7K
KLAC icon
124
KLA
KLAC
$259B
$23.1M 0.14%
396,680
+22,000
+6% +$1.15M
IDXX icon
125
Idexx Laboratories
IDXX
$46.2B
$23M 0.14%
41,455
+200
+0.5% +$93.9K
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 Q4 2023 Portfolio in Review

As of Q4 2023, State of Michigan Retirement System held 982 positions worth $16.8B, up 8.7% from $15.5B the previous quarter. Its ten largest holdings account for 34% of the portfolio.

Trading was light in Q4 2023: portfolio turnover was 4.3%. State of Michigan Retirement System opened 18 new positions and exited 24, leaving the 982-position portfolio largely intact.

By sector, the portfolio is most concentrated in Technology at 25% of assets, up from 24% a quarter earlier, followed by Financials and Communication Services.

  • State of Michigan Retirement System's largest Q4 2023 buy was Uber: 566,117 shares worth $34.9M.
  • State of Michigan Retirement System added most to Adobe in Q4 2023, an estimated $53.6M increase.
  • State of Michigan Retirement System's biggest Q4 2023 reduction was iShares iBoxx $ Investment Grade Corporate Bond ETF, cutting an estimated $96.3M.
  • State of Michigan Retirement System fully exited State Street SPDR S&P Homebuilders ETF in Q4 2023, selling an estimated $28.3M.
  • State of Michigan Retirement System's ten largest holdings make up 34% of its $16.8B portfolio in Q4 2023.
  • State of Michigan Retirement System opened 18 new positions and closed 24 in Q4 2023.
  • State of Michigan Retirement System's portfolio value rose 8.7% quarter-over-quarter to $16.8B.

Based on State of Michigan Retirement System's 13F filing for Q4 2023, filed 23 Jan 2024.