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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
QUAL icon
126
iShares MSCI USA Quality Factor ETF
QUAL
$48.1B
$27M 0.16%
157,750
-100
-0.1% -$17.9K
DUK icon
127
Duke Energy
DUK
$95.2B
$25.7M 0.15%
210,536
+900
+0.4% +$103K
WELL icon
128
Welltower
WELL
$169B
$25.3M 0.15%
165,309
+4,800
+3% +$684K
TSM icon
129
TSMC
TSM
$2.19T
$24.6M 0.14%
148,200
– –
AJG icon
130
Arthur J. Gallagher & Co
AJG
$64.3B
$23.8M 0.14%
68,987
+1,200
+2% +$379K
MDLZ icon
131
Mondelez International
MDLZ
$78.4B
$23.8M 0.14%
350,870
-12,100
-3% -$746K
CRWD icon
132
CrowdStrike
CRWD
$230B
$23.6M 0.14%
267,200
+14,400
+6% +$1.37M
AON icon
133
Aon
AON
$75.6B
$23.4M 0.14%
58,658
– –
MMM icon
134
3M
MMM
$93.8B
$23.2M 0.13%
157,805
-500
-0.3% -$73.5K
WM icon
135
Waste Management
WM
$90.5B
$22.9M 0.13%
99,088
– –
SHW icon
136
Sherwin-Williams
SHW
$88.1B
$22.9M 0.13%
65,656
– –
GEV icon
137
GE Vernova
GEV
$265B
$22.8M 0.13%
74,840
– –
ORLY icon
138
O'Reilly Automotive
ORLY
$75.1B
$22.3M 0.13%
233,445
-1,500
-0.6% -$130K
HIMS icon
139
Hims & Hers Health
HIMS
$7.34B
$22M 0.13%
745,800
+45,800
+7% +$1.7M
UPS icon
140
United Parcel Service
UPS
$88.7B
$21.8M 0.13%
198,414
-100
-0.1% -$12K
CPRT icon
141
Copart
CPRT
$27.3B
$21.8M 0.13%
384,708
– –
TT icon
142
Trane Technologies
TT
$105B
$21.6M 0.12%
64,213
-300
-0.5% -$108K
EQIX icon
143
Equinix
EQIX
$103B
$21.5M 0.12%
26,417
+200
+0.8% +$180K
CMG icon
144
Chipotle Mexican Grill
CMG
$40.9B
$21.5M 0.12%
427,600
-557,100
-57% -$30.3M
MELI icon
145
Mercado Libre
MELI
$92.2B
$21.5M 0.12%
11,000
– –
PH icon
146
Parker-Hannifin
PH
$134B
$21.2M 0.12%
34,896
– –
KKR icon
147
KKR & Co
KKR
$93.1B
$21.2M 0.12%
183,100
-100
-0.1% -$13.8K
ZTS icon
148
Zoetis
ZTS
$30.5B
$20.9M 0.12%
126,964
-1,000
-0.8% -$166K
MCO icon
149
Moody's
MCO
$83.2B
$20.8M 0.12%
44,606
-300
-0.7% -$145K
CL icon
150
Colgate-Palmolive
CL
$74.2B
$20.6M 0.12%
220,129
-1,600
-0.7% -$143K
4 5
6
7 8

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.