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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
IDXX icon
176
Idexx Laboratories
IDXX
$47.4B
$17.2M 0.1%
40,955
– –
AZO icon
177
AutoZone
AZO
$49.9B
$17.2M 0.1%
4,506
-100
-2% -$345K
ROP icon
178
Roper Technologies
ROP
$40B
$17.2M 0.1%
29,111
– –
CEG icon
179
Constellation Energy
CEG
$96.2B
$17.1M 0.1%
84,867
– –
DASH icon
180
DoorDash
DASH
$90.4B
$16.8M 0.1%
+92,000
New +$17.3M
EMR icon
181
Emerson Electric
EMR
$88.8B
$16.8M 0.1%
153,020
-1,700
-1% -$205K
FDX icon
182
FedEx
FDX
$76.9B
$16.8M 0.1%
68,767
-900
-1% -$233K
HCA icon
183
HCA Healthcare
HCA
$89.3B
$16.8M 0.1%
48,509
-1,000
-2% -$322K
OKE icon
184
Oneok
OKE
$56.5B
$16.7M 0.1%
168,281
+9,700
+6% +$963K
FTNT icon
185
Fortinet
FTNT
$121B
$16.6M 0.1%
172,570
-100
-0.1% -$10.1K
APO icon
186
Apollo Global Management
APO
$75.1B
$16.6M 0.1%
121,300
– –
TRV icon
187
Travelers Companies
TRV
$78.6B
$16.3M 0.09%
61,553
-100
-0.2% -$24.9K
AFL icon
188
Aflac
AFL
$61.2B
$15.9M 0.09%
142,707
-1,400
-1% -$148K
AEP icon
189
American Electric Power
AEP
$66.6B
$15.8M 0.09%
144,658
+100
+0.1% +$10.1K
TFC icon
190
Truist Financial
TFC
$63.3B
$15.8M 0.09%
383,643
-3,400
-0.9% -$151K
JCI icon
191
Johnson Controls International
JCI
$92B
$15.5M 0.09%
193,042
-2,200
-1% -$181K
PCAR icon
192
PACCAR
PCAR
$68.7B
$15.4M 0.09%
158,266
-100
-0.1% -$10.5K
CSX icon
193
CSX Corp
CSX
$92.9B
$15.4M 0.09%
523,184
-200
-0% -$6.35K
FDS icon
194
Factset
FDS
$10.1B
$15.3M 0.09%
33,635
– –
NXPI icon
195
NXP Semiconductors
NXPI
$59.5B
$15.3M 0.09%
80,368
– –
ADSK icon
196
Autodesk
ADSK
$54.2B
$15.3M 0.09%
58,323
-800
-1% -$228K
AIG icon
197
American International
AIG
$40.6B
$15.1M 0.09%
173,867
-8,400
-5% -$653K
KMI icon
198
Kinder Morgan
KMI
$69.8B
$15M 0.09%
524,445
-100
-0% -$2.77K
NEM icon
199
Newmont
NEM
$123B
$14.9M 0.09%
308,845
-100
-0% -$4.39K
ALL icon
200
Allstate
ALL
$68.4B
$14.9M 0.09%
71,889
– –
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
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.