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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
+22.37%
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
$11.4B
AUM Growth
+$2.34B
Cap. Flow
+$480M
Cap. Flow %
4.21%
Top 10 Hldgs %
24.68%
Holding
969
New
26
Increased
830
Reduced
54
Closed
38

Top Buys

Rank Stock Value
1
LQD icon
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
+$178M
2
AGG icon
iShares Core US Aggregate Bond ETF
AGG
+$152M
3
CVS icon
CVS Health
CVS
+$102M
4
RTX icon
RTX Corp
RTX
+$61.1M
5
ETRN
Equitrans Midstream Corporation Common Stock
ETRN
+$51M

Top Sells

Rank Stock Value
1
AGNC icon
AGNC Investment
AGNC
+$197M
2
EXC icon
Exelon
EXC
+$92.1M
3
META icon
Meta Platforms (Facebook)
META
+$85.5M
4
GIS icon
General Mills
GIS
+$45.5M
5
RTN
Raytheon Company
RTN
+$39.1M

Sector Composition

Rank Sector Weight
1 Technology 22.75%
2 Healthcare 13.43%
3 Financials 13.35%
4 Consumer Discretionary 8.62%
5 Communication Services 8.42%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BAX icon
176
Baxter International
BAX
$14.2B
$11.2M 0.1%
129,955
+12,833
+11% +$1.12M
GLOB icon
177
Globant
GLOB
$1.61B
$11.1M 0.1%
+74,000
New +$9.14M
EW icon
178
Edwards Lifesciences
EW
$51.7B
$10.9M 0.1%
158,243
+14,675
+10% +$1.04M
EL icon
179
Estee Lauder
EL
$32B
$10.8M 0.09%
57,401
+6,383
+13% +$1.14M
WM icon
180
Waste Management
WM
$91B
$10.5M 0.09%
99,174
+9,696
+11% +$979K
ROP icon
181
Roper Technologies
ROP
$39.8B
$10.3M 0.09%
26,647
+2,745
+11% +$983K
AEP icon
182
American Electric Power
AEP
$68.4B
$10.1M 0.09%
126,523
+13,242
+12% +$1.08M
DD icon
183
DuPont de Nemours
DD
$19.2B
$9.96M 0.09%
149,316
+13,954
+10% +$815K
SCHW
184
Charles Schwab
SCHW
$187B
$9.87M 0.09%
292,640
+30,503
+12% +$1.09M
EA
185
DELISTED
Electronic Arts
EA
$9.74M 0.09%
73,752
+6,846
+10% +$809K
DLR icon
186
Digital Realty Trust
DLR
$71.7B
$9.74M 0.09%
68,522
+8,262
+14% +$1.17M
DXCM icon
187
DexCom
DXCM
$32B
$9.55M 0.08%
+94,208
New +$8.43M
GIS icon
188
General Mills
GIS
$19.7B
$9.54M 0.08%
154,821
-755,117
-83% -$45.5M
AXP icon
189
American Express
AXP
$230B
$9.48M 0.08%
99,630
-54,129
-35% -$4.98M
EMR icon
190
Emerson Electric
EMR
$88.3B
$9.47M 0.08%
152,604
+12,981
+9% +$737K
CNC icon
191
Centene
CNC
$32.5B
$9.4M 0.08%
147,880
+13,996
+10% +$911K
SNAP icon
192
Snap
SNAP
$9.01B
$9.4M 0.08%
+400,000
New +$7.11M
G icon
193
Genpact
G
$5.76B
$9.22M 0.08%
252,500
+162,500
+181% +$5.49M
GD icon
194
General Dynamics
GD
$106B
$8.86M 0.08%
59,302
+5,675
+11% +$801K
EBAY icon
195
eBay
EBAY
$49.8B
$8.85M 0.08%
168,742
-6,600
-4% -$279K
XLI icon
196
State Street Industrial Select Sector SPDR ETF
XLI
$34.6B
$8.82M 0.08%
128,344
+18,944
+17% +$1.23M
SRE icon
197
Sempra
SRE
$54.8B
$8.76M 0.08%
149,376
+20,300
+16% +$1.25M
SPH icon
198
Suburban Propane Partners
SPH
$1.18B
$8.72M 0.08%
610,000
– –
FDX icon
199
FedEx
FDX
$75.4B
$8.61M 0.08%
61,387
+6,375
+12% +$802K
RPT
200
Rithm Property Trust
RPT
$93.7M
$8.57M 0.08%
155,252
– –
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 Q2 2020 Portfolio in Review

As of Q2 2020, State of Michigan Retirement System held 969 positions worth $11.4B, up 26% from $9.07B the previous quarter. Its ten largest holdings account for 25% of the portfolio.

State of Michigan Retirement System deployed $480M of net new capital in Q2 2020, opening 26 new positions and adding to 830 existing holdings. Its largest new stake was iShares iBoxx $ Investment Grade Corporate Bond ETF: 1,366,000 shares worth $184M.

By sector, the portfolio is most concentrated in Technology at 23% of assets, up from 20% a quarter earlier, followed by Healthcare and Financials.

On the sell side, the largest reduction was AGNC Investment, an estimated $197M trimmed.

  • State of Michigan Retirement System's largest Q2 2020 buy was iShares iBoxx $ Investment Grade Corporate Bond ETF: 1,366,000 shares worth $184M.
  • State of Michigan Retirement System added most to iShares Core US Aggregate Bond ETF in Q2 2020, an estimated $152M increase.
  • State of Michigan Retirement System's biggest Q2 2020 reduction was AGNC Investment, cutting an estimated $197M.
  • State of Michigan Retirement System fully exited Raytheon Company in Q2 2020, selling an estimated $39.1M.
  • State of Michigan Retirement System's ten largest holdings make up 25% of its $11.4B portfolio in Q2 2020.
  • State of Michigan Retirement System opened 26 new positions and closed 38 in Q2 2020.
  • State of Michigan Retirement System's portfolio value rose 26% quarter-over-quarter to $11.4B.

Based on State of Michigan Retirement System's 13F filing for Q2 2020, filed 29 Jul 2020.