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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
-12.75%
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
$11.1B
AUM Growth
-$2.52B
Cap. Flow
-$649M
Cap. Flow %
-5.82%
Top 10 Hldgs %
23.67%
Holding
963
New
23
Increased
75
Reduced
826
Closed
19

Top Buys

Rank Stock Value
1
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$107M
2
RITM icon
Rithm Capital
RITM
+$68.6M
3
HON icon
Honeywell
HON
+$65.1M
4
DXC icon
DXC Technology
DXC
+$44.8M
5
RTN
Raytheon Company
RTN
+$41.3M

Top Sells

Rank Stock Value
1
EXC icon
Exelon
EXC
+$125M
2
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$108M
3
AXP icon
American Express
AXP
+$99.1M
4
V icon
Visa
V
+$83.3M
5
CVS icon
CVS Health
CVS
+$79.7M

Sector Composition

Rank Sector Weight
1 Technology 15.27%
2 Financials 14.8%
3 Healthcare 13.25%
4 Real Estate 12.44%
5 Industrials 8.76%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MRSH
176
Marsh
MRSH
$91.5B
$11.5M 0.1%
144,201
-6,300
-4% -$525K
KMB icon
177
Kimberly-Clark
KMB
$36.5B
$11.3M 0.1%
99,146
-4,400
-4% -$488K
HUM icon
178
Humana
HUM
$46.2B
$11.3M 0.1%
39,326
-1,700
-4% -$539K
FDX icon
179
FedEx
FDX
$75.4B
$11.2M 0.1%
69,412
-3,100
-4% -$656K
EEFT icon
180
Euronet Worldwide
EEFT
$2.7B
$11M 0.1%
+107,030
New +$11.8M
SPLK
181
DELISTED
Splunk Inc
SPLK
$10.9M 0.1%
104,000
+24,000
+30% +$2.43M
RPT
182
Rithm Property Trust
RPT
$93.7M
$10.8M 0.1%
155,252
– –
ECL icon
183
Ecolab
ECL
$79.9B
$10.7M 0.1%
72,829
-2,900
-4% -$443K
EMR icon
184
Emerson Electric
EMR
$88.3B
$10.7M 0.1%
179,223
-8,000
-4% -$539K
ZBRA icon
185
Zebra Technologies
ZBRA
$17.8B
$10.7M 0.1%
67,200
-72,700
-52% -$12.1M
ABMD
186
DELISTED
Abiomed Inc
ABMD
$10.7M 0.1%
32,900
-30,500
-48% -$10.6M
PLD icon
187
Prologis
PLD
$133B
$10.6M 0.09%
180,211
-7,400
-4% -$480K
AEP icon
188
American Electric Power
AEP
$68.4B
$10.6M 0.09%
141,181
-5,700
-4% -$428K
CTSH icon
189
Cognizant
CTSH
$26B
$10.5M 0.09%
165,754
-7,100
-4% -$494K
PSX icon
190
Phillips 66
PSX
$81.4B
$10.5M 0.09%
121,435
-5,800
-5% -$567K
COF icon
191
Capital One
COF
$134B
$10.3M 0.09%
135,648
-6,900
-5% -$598K
MU icon
192
Micron Technology
MU
$991B
$10.2M 0.09%
320,644
-24,900
-7% -$944K
ATVI
193
DELISTED
Activision Blizzard
ATVI
$10.2M 0.09%
218,444
-8,700
-4% -$521K
PGR icon
194
Progressive
PGR
$125B
$10.1M 0.09%
166,981
-6,800
-4% -$452K
APD icon
195
Air Products & Chemicals
APD
$67.6B
$10.1M 0.09%
62,902
-2,400
-4% -$380K
AON icon
196
Aon
AON
$76B
$10M 0.09%
68,947
-3,400
-5% -$528K
WM icon
197
Waste Management
WM
$91B
$9.99M 0.09%
112,278
-5,200
-4% -$467K
AIG icon
198
American International
AIG
$41.3B
$9.98M 0.09%
253,252
-11,500
-4% -$502K
AFL icon
199
Aflac
AFL
$62.6B
$9.93M 0.09%
217,990
-10,800
-5% -$480K
TGT icon
200
Target
TGT
$68B
$9.88M 0.09%
149,410
-7,400
-5% -$569K
6 7
8
9 10

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 2018 Portfolio in Review

As of Q4 2018, State of Michigan Retirement System held 963 positions worth $11.1B, down 18% from $13.7B the previous quarter. Its ten largest holdings account for 24% of the portfolio.

State of Michigan Retirement System withdrew a net $649M in Q4 2018, closing 19 positions and reducing 826 holdings. Its most notable exit was CA, Inc., an estimated $39.2M position sold in full.

By sector, the portfolio is most concentrated in Technology at 15% of assets, down from 17% a quarter earlier, followed by Financials and Healthcare.

Against the trend, State of Michigan Retirement System opened a new position in Honeywell worth $59.4M.

  • State of Michigan Retirement System's largest Q4 2018 buy was Honeywell: 477,026 shares worth $59.4M.
  • State of Michigan Retirement System added most to State Street SPDR S&P 500 ETF Trust in Q4 2018, an estimated $107M increase.
  • State of Michigan Retirement System's biggest Q4 2018 reduction was Exelon, cutting an estimated $125M.
  • State of Michigan Retirement System fully exited CA, Inc. in Q4 2018, selling an estimated $39.2M.
  • State of Michigan Retirement System's ten largest holdings make up 24% of its $11.1B portfolio in Q4 2018.
  • State of Michigan Retirement System opened 23 new positions and closed 19 in Q4 2018.
  • State of Michigan Retirement System's portfolio value fell 18% quarter-over-quarter to $11.1B.

Based on State of Michigan Retirement System's 13F filing for Q4 2018, filed 1 Feb 2019.