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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
-3.04%
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
$17.3B
AUM Growth
-$1.9B
Cap. Flow
-$1.06B
Cap. Flow %
-6.11%
Top 10 Hldgs %
32.47%
Holding
963
New
12
Increased
395
Reduced
310
Closed
19

Top Buys

Rank Stock Value
1
JPM icon
JPMorgan Chase
JPM
+$35M
2
AVGO icon
Broadcom
AVGO
+$34.7M
3
VRT icon
Vertiv
VRT
+$18.2M
4
XYZ
Block Inc
XYZ
+$17.4M
5
DASH icon
DoorDash
DASH
+$17.3M

Top Sells

Rank Stock Value
1
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$585M
2
CVS icon
CVS Health
CVS
+$190M
3
T icon
AT&T
T
+$153M
4
IJH icon
iShares Core S&P Mid-Cap ETF
IJH
+$43M
5
MSFT icon
Microsoft
MSFT
+$36.3M

Sector Composition

Rank Sector Weight
1 Technology 28.36%
2 Financials 12.46%
3 Healthcare 10.12%
4 Consumer Discretionary 9.98%
5 Communication Services 9.07%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MRSH
101
Marsh
MRSH
$91.1B
$34.3M 0.2%
140,675
– –
FISV
102
Fiserv Inc
FISV
$27.5B
$34.1M 0.2%
154,334
-100
-0.1% -$21.9K
BABA icon
103
Alibaba
BABA
$314B
$34M 0.2%
257,000
– –
SPOT icon
104
Spotify
SPOT
$106B
$33M 0.19%
60,031
-15,000
-20% -$8.38M
DE icon
105
Deere & Co
DE
$165B
$32.3M 0.19%
68,757
-300
-0.4% -$140K
MDT icon
106
Medtronic
MDT
$113B
$31.3M 0.18%
347,898
-200
-0.1% -$17.9K
PANW icon
107
Palo Alto Networks
PANW
$311B
$30.6M 0.18%
179,600
+2,000
+1% +$370K
CB icon
108
Chubb
CB
$134B
$30.5M 0.18%
101,087
-700
-0.7% -$195K
ELV icon
109
Elevance Health
ELV
$86.3B
$30.3M 0.17%
69,551
– –
SBUX icon
110
Starbucks
SBUX
$120B
$30.2M 0.17%
308,159
+500
+0.2% +$51.7K
NKE icon
111
Nike
NKE
$62.2B
$29.6M 0.17%
466,615
+58,400
+14% +$4.3M
MU icon
112
Micron Technology
MU
$992B
$29.3M 0.17%
337,742
+1,300
+0.4% +$125K
ETN icon
113
Eaton
ETN
$174B
$29.2M 0.17%
107,256
– –
APH icon
114
Amphenol
APH
$210B
$28.4M 0.16%
433,574
+1,400
+0.3% +$95.5K
PLD icon
115
Prologis
PLD
$131B
$28.1M 0.16%
251,467
+100
+0% +$11.6K
BX icon
116
Blackstone
BX
$112B
$27.8M 0.16%
198,600
+2,600
+1% +$422K
CVS icon
117
CVS Health
CVS
$122B
$27.7M 0.16%
409,577
-3,174,600
-89% -$190M
LMT icon
118
Lockheed Martin
LMT
$139B
$27.7M 0.16%
62,018
-500
-0.8% -$230K
MO icon
119
Altria Group
MO
$111B
$27.6M 0.16%
459,742
-200
-0% -$10.9K
AMT icon
120
American Tower
AMT
$79B
$27.6M 0.16%
126,784
– –
CME icon
121
CME Group
CME
$95.9B
$27.4M 0.16%
103,244
-100
-0.1% -$24.7K
LRCX icon
122
Lam Research
LRCX
$386B
$27.4M 0.16%
376,400
-1,000
-0.3% -$78.7K
SO icon
123
Southern Company
SO
$105B
$27.3M 0.16%
297,223
-200
-0.1% -$17.3K
ADI icon
124
Analog Devices
ADI
$189B
$27.1M 0.16%
134,555
-200
-0.1% -$43.2K
KLAC icon
125
KLA
KLAC
$254B
$27M 0.16%
397,680
-2,000
-0.5% -$144K
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
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
CHP
Castle Hook Partners New York $23.4B AUM 158.96% 1-Year Est. Return

State of Michigan Retirement System's Q1 2025 Portfolio in Review

As of Q1 2025, State of Michigan Retirement System held 963 positions worth $17.3B, down 9.9% from $19.2B the previous quarter. Its ten largest holdings account for 32% of the portfolio.

State of Michigan Retirement System withdrew a net $1.06B in Q1 2025, closing 19 positions and reducing 310 holdings. Its most notable exit was iShares Biotechnology ETF, an estimated $18.1M position sold in full.

By sector, the portfolio is most concentrated in Technology at 28% of assets, down from 30% a quarter earlier, followed by Financials and Healthcare.

Against the trend, State of Michigan Retirement System opened a new position in DoorDash worth $16.8M.

  • State of Michigan Retirement System's largest Q1 2025 buy was DoorDash: 92,000 shares worth $16.8M.
  • State of Michigan Retirement System added most to JPMorgan Chase in Q1 2025, an estimated $35M increase.
  • State of Michigan Retirement System's biggest Q1 2025 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $585M.
  • State of Michigan Retirement System fully exited iShares Biotechnology ETF in Q1 2025, selling an estimated $18.1M.
  • State of Michigan Retirement System's ten largest holdings make up 32% of its $17.3B portfolio in Q1 2025.
  • State of Michigan Retirement System opened 12 new positions and closed 19 in Q1 2025.
  • State of Michigan Retirement System's portfolio value fell 9.9% quarter-over-quarter to $17.3B.

Based on State of Michigan Retirement System's 13F filing for Q1 2025, filed 30 Apr 2025.