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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
MMM icon
151
3M
MMM
$94.3B
$18.5M 0.11%
202,489
+9,090
+5% +$729K
FDX icon
152
FedEx
FDX
$75.4B
$18.3M 0.11%
72,467
-200
-0.3% -$50.8K
NOC icon
153
Northrop Grumman
NOC
$81.2B
$18.2M 0.11%
38,818
-200
-0.5% -$93.7K
PYPL icon
154
PayPal
PYPL
$50.5B
$18.1M 0.11%
295,192
-5,800
-2% -$332K
TGT icon
155
Target
TGT
$68B
$18M 0.11%
126,422
-100
-0.1% -$12.2K
WM icon
156
Waste Management
WM
$91B
$18M 0.11%
100,388
-700
-0.7% -$117K
CL icon
157
Colgate-Palmolive
CL
$74.4B
$18M 0.11%
225,429
-1,200
-0.5% -$90.2K
EXPE icon
158
Expedia Group
EXPE
$37.3B
$17.9M 0.11%
117,964
+76,400
+184% +$9.36M
DHI icon
159
D.R. Horton
DHI
$42.3B
$17.9M 0.11%
117,599
+1,800
+2% +$222K
F icon
160
Ford
F
$55.7B
$17.8M 0.11%
1,461,379
+59,600
+4% +$663K
FAST icon
161
Fastenal
FAST
$59.5B
$17.5M 0.1%
541,356
-400
-0.1% -$12.1K
APD icon
162
Air Products & Chemicals
APD
$67.6B
$17.5M 0.1%
63,921
+3,000
+5% +$825K
MELI icon
163
Mercado Libre
MELI
$92.3B
$17.3M 0.1%
11,000
– –
ANET icon
164
Arista Networks
ANET
$238B
$17.2M 0.1%
291,556
+2,000
+0.7% +$105K
PNC icon
165
PNC Financial Services
PNC
$101B
$16.9M 0.1%
109,056
-100
-0.1% -$12.9K
MCO icon
166
Moody's
MCO
$82.7B
$16.8M 0.1%
43,106
-2,700
-6% -$938K
XLE icon
167
State Street Energy Select Sector SPDR ETF
XLE
$37.6B
$16.8M 0.1%
400,000
-440,000
-52% -$18.8M
FCX icon
168
Freeport-McMoran
FCX
$97.5B
$16.7M 0.1%
392,633
-400
-0.1% -$14.8K
PH icon
169
Parker-Hannifin
PH
$135B
$16.2M 0.1%
35,196
– –
ABNB icon
170
Airbnb
ABNB
$107B
$16.2M 0.1%
119,000
+2,100
+2% +$271K
FDS icon
171
Factset
FDS
$10.2B
$16.1M 0.1%
33,835
+700
+2% +$315K
GD icon
172
General Dynamics
GD
$106B
$16.1M 0.1%
62,012
-100
-0.2% -$24.4K
PSX icon
173
Phillips 66
PSX
$81.4B
$16M 0.1%
120,412
-1,700
-1% -$203K
AON icon
174
Aon
AON
$76B
$16M 0.1%
54,858
-800
-1% -$256K
ROP icon
175
Roper Technologies
ROP
$39.8B
$15.9M 0.09%
29,211
– –
5 6
7
8 9

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.