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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
+6.41%
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
$12.7B
AUM Growth
+$329M
Cap. Flow
-$336M
Cap. Flow %
-2.65%
Top 10 Hldgs %
24.56%
Holding
955
New
11
Increased
21
Reduced
876
Closed
16

Top Buys

Rank Stock Value
1
GILD icon
Gilead Sciences
GILD
+$49.6M
2
CVS icon
CVS Health
CVS
+$43.5M
3
AGNC icon
AGNC Investment
AGNC
+$41M
4
GPMT
Granite Point Mortgage Trust
GPMT
+$26.9M
5
MCHP icon
Microchip Technology
MCHP
+$19.1M

Top Sells

Rank Stock Value
1
HON icon
Honeywell
HON
+$72.5M
2
VR
Validus Hold Ltd
VR
+$39.5M
3
XYZ
Block Inc
XYZ
+$34.6M
4
DIS icon
Walt Disney
DIS
+$33.5M
5
ADBE icon
Adobe
ADBE
+$31.9M

Sector Composition

Rank Sector Weight
1 Financials 19.93%
2 Technology 14.55%
3 Healthcare 13.76%
4 Communication Services 10.45%
5 Industrials 7.62%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
F icon
151
Ford
F
$56.3B
$14.3M 0.11%
1,143,690
-43,200
-4% -$532K
TJX icon
152
TJX Companies
TJX
$177B
$14.3M 0.11%
372,980
-13,200
-3% -$479K
SO icon
153
Southern Company
SO
$107B
$14.2M 0.11%
294,230
-9,100
-3% -$464K
COF icon
154
Capital One
COF
$136B
$14.1M 0.11%
142,048
-4,700
-3% -$429K
ATVI
155
DELISTED
Activision Blizzard
ATVI
$14M 0.11%
221,644
-7,400
-3% -$468K
MU icon
156
Micron Technology
MU
$1.01T
$13.9M 0.11%
338,044
– –
KHC icon
157
Kraft Heinz
KHC
$30.5B
$13.6M 0.11%
175,046
-6,100
-3% -$479K
VEA icon
158
Vanguard FTSE Developed Markets ETF
VEA
$234B
$13.5M 0.11%
300,000
– –
EMR icon
159
Emerson Electric
EMR
$90.6B
$13.1M 0.1%
188,123
-6,100
-3% -$395K
PX
160
DELISTED
Praxair Inc
PX
$13M 0.1%
83,945
-2,900
-3% -$430K
PSX icon
161
Phillips 66
PSX
$81.2B
$12.7M 0.1%
125,935
-4,400
-3% -$418K
HAL icon
162
Halliburton
HAL
$26.5B
$12.5M 0.1%
255,779
-7,600
-3% -$335K
KMB icon
163
Kimberly-Clark
KMB
$37.4B
$12.4M 0.1%
103,146
-4,100
-4% -$478K
RPT
164
Rithm Property Trust
RPT
$95.4M
$12.4M 0.1%
155,252
– –
ESRX
165
DELISTED
Express Scripts Holding Company
ESRX
$12.4M 0.1%
165,992
-9,300
-5% -$595K
CTSH icon
166
Cognizant
CTSH
$25.1B
$12.3M 0.1%
172,854
-6,400
-4% -$468K
MAR icon
167
Marriott International
MAR
$94.2B
$12.2M 0.1%
89,752
-5,200
-5% -$638K
MRSH
168
Marsh
MRSH
$91.4B
$12.2M 0.1%
149,601
-5,900
-4% -$490K
NSC icon
169
Norfolk Southern
NSC
$76.8B
$12.2M 0.1%
83,849
-3,600
-4% -$483K
ICE icon
170
Intercontinental Exchange
ICE
$84.1B
$12.1M 0.1%
171,500
-7,100
-4% -$487K
ISRG icon
171
Intuitive Surgical
ISRG
$133B
$12M 0.09%
98,604
-3,600
-4% -$451K
STZ icon
172
Constellation Brands
STZ
$22.3B
$11.5M 0.09%
50,475
-1,700
-3% -$367K
TFC icon
173
Truist Financial
TFC
$64.6B
$11.5M 0.09%
231,261
-14,000
-6% -$676K
INTU icon
174
Intuit
INTU
$89.7B
$11.2M 0.09%
71,184
-2,700
-4% -$412K
VRTX icon
175
Vertex Pharmaceuticals
VRTX
$123B
$11.1M 0.09%
74,168
-2,300
-3% -$341K
5 6
7
8 9

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FAM
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BA
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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)
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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
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State of Michigan Retirement System's Q4 2017 Portfolio in Review

As of Q4 2017, State of Michigan Retirement System held 955 positions worth $12.7B, up 2.7% from $12.4B the previous quarter. Its ten largest holdings account for 25% of the portfolio.

Trading was light in Q4 2017: portfolio turnover was 2.8%. State of Michigan Retirement System opened 11 new positions and exited 16, leaving the 955-position portfolio largely intact.

By sector, the portfolio is most concentrated in Financials at 20% of assets, up from 19% a quarter earlier, followed by Technology and Healthcare.

  • State of Michigan Retirement System's largest Q4 2017 buy was Granite Point Mortgage Trust: 1,478,739 shares worth $26.2M.
  • State of Michigan Retirement System added most to Gilead Sciences in Q4 2017, an estimated $49.6M increase.
  • State of Michigan Retirement System's biggest Q4 2017 reduction was Validus Hold Ltd, cutting an estimated $39.5M.
  • State of Michigan Retirement System fully exited Honeywell in Q4 2017, selling an estimated $72.5M.
  • State of Michigan Retirement System's ten largest holdings make up 25% of its $12.7B portfolio in Q4 2017.
  • State of Michigan Retirement System opened 11 new positions and closed 16 in Q4 2017.
  • State of Michigan Retirement System's portfolio value rose 2.7% quarter-over-quarter to $12.7B.

Based on State of Michigan Retirement System's 13F filing for Q4 2017, filed 1 Feb 2018.