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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
+5.02%
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
$12.4B
AUM Growth
-$886M
Cap. Flow
-$1.43B
Cap. Flow %
-11.61%
Top 10 Hldgs %
23.49%
Holding
969
New
21
Increased
50
Reduced
850
Closed
25

Top Buys

Rank Stock Value
1
AGNC icon
AGNC Investment
AGNC
+$128M
2
ALLY icon
Ally Financial
ALLY
+$52.1M
3
MCHP icon
Microchip Technology
MCHP
+$29.8M
4
DGX icon
Quest Diagnostics
DGX
+$28.6M
5
CVS icon
CVS Health
CVS
+$26.6M

Top Sells

Rank Stock Value
1
JPM icon
JPMorgan Chase
JPM
+$200M
2
AAPL icon
Apple
AAPL
+$187M
3
WTW icon
Willis Towers Watson
WTW
+$147M
4
GILD icon
Gilead Sciences
GILD
+$84.4M
5
BRK.B icon
Berkshire Hathaway Class B
BRK.B
+$60.2M

Sector Composition

Rank Sector Weight
1 Financials 19.42%
2 Technology 14.12%
3 Healthcare 14.08%
4 Communication Services 10.65%
5 Industrials 8.2%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PSA icon
201
Public Storage
PSA
$61.1B
$9.71M 0.08%
45,377
-3,800
-8% -$786K
WM icon
202
Waste Management
WM
$91.5B
$9.62M 0.08%
122,878
-10,700
-8% -$813K
ADI icon
203
Analog Devices
ADI
$184B
$9.62M 0.08%
111,595
-9,000
-7% -$726K
BAX icon
204
Baxter International
BAX
$14B
$9.55M 0.08%
152,122
-8,200
-5% -$507K
FISV
205
Fiserv Inc
FISV
$28.9B
$9.53M 0.08%
147,856
-12,000
-8% -$746K
LUV icon
206
Southwest Airlines
LUV
$23B
$9.35M 0.08%
167,084
-31,600
-16% -$1.77M
LRCX icon
207
Lam Research
LRCX
$383B
$9.12M 0.07%
492,600
-38,000
-7% -$617K
GIS icon
208
General Mills
GIS
$19.3B
$9.06M 0.07%
175,138
-14,200
-7% -$778K
TEL icon
209
TE Connectivity
TEL
$62.3B
$8.91M 0.07%
107,276
-9,400
-8% -$756K
DXC icon
210
DXC Technology
DXC
$1.77B
$8.8M 0.07%
118,519
+10,895
+10% +$773K
MVIS icon
211
Microvision
MVIS
$76.1M
$8.74M 0.07%
209,613
+15,873
+8% +$575K
STI
212
DELISTED
SunTrust Banks, Inc.
STI
$8.7M 0.07%
145,592
-13,300
-8% -$752K
SRE icon
213
Sempra
SRE
$55.1B
$8.7M 0.07%
152,476
-12,400
-8% -$717K
ROST icon
214
Ross Stores
ROST
$81.6B
$8.66M 0.07%
134,138
-10,700
-7% -$616K
SSYS icon
215
Stratasys
SSYS
$760M
$8.66M 0.07%
374,603
– –
MPC icon
216
Marathon Petroleum
MPC
$84B
$8.62M 0.07%
153,666
-16,800
-10% -$901K
BAC.WS.B
217
DELISTED
Bank Of America Corporation Ws B
BAC.WS.B
$8.58M 0.07%
10,986,671
– –
PGR icon
218
Progressive
PGR
$125B
$8.55M 0.07%
176,581
-14,300
-7% -$669K
PPG icon
219
PPG Industries
PPG
$26B
$8.46M 0.07%
77,868
-264,500
-77% -$28.2M
TFCFA
220
DELISTED
Twenty-First Century Fox, Inc. Class A
TFCFA
$8.43M 0.07%
319,441
-26,400
-8% -$727K
EARN
221
Ellington Residential Mortgage REIT
EARN
$163M
$8.42M 0.07%
+580,000
New +$8.48M
APC
222
DELISTED
Anadarko Petroleum
APC
$8.31M 0.07%
170,027
-14,100
-8% -$622K
GLW icon
223
Corning
GLW
$135B
$8.2M 0.07%
274,069
-28,400
-9% -$841K
CMI icon
224
Cummins
CMI
$88.7B
$8.03M 0.07%
47,764
-3,000
-6% -$485K
CCL icon
225
Carnival Corporation Ltd
CCL
$39.4B
$7.99M 0.06%
123,760
-13,800
-10% -$923K
7 8
9
10 11

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 Q3 2017 Portfolio in Review

As of Q3 2017, State of Michigan Retirement System held 969 positions worth $12.4B, down 6.7% from $13.2B the previous quarter. Its ten largest holdings account for 23% of the portfolio.

State of Michigan Retirement System withdrew a net $1.43B in Q3 2017, closing 25 positions and reducing 850 holdings. Its most notable exit was Reynolds American Inc, an estimated $36.2M position sold in full.

By sector, the portfolio is most concentrated in Financials at 19% of assets, down from 21% a quarter earlier, followed by Technology and Healthcare.

Against the trend, State of Michigan Retirement System opened a new position in British American Tobacco worth $24.6M.

  • State of Michigan Retirement System's largest Q3 2017 buy was British American Tobacco: 393,715 shares worth $24.6M.
  • State of Michigan Retirement System added most to AGNC Investment in Q3 2017, an estimated $128M increase.
  • State of Michigan Retirement System's biggest Q3 2017 reduction was JPMorgan Chase, cutting an estimated $200M.
  • State of Michigan Retirement System fully exited Reynolds American Inc in Q3 2017, selling an estimated $36.2M.
  • State of Michigan Retirement System's ten largest holdings make up 23% of its $12.4B portfolio in Q3 2017.
  • State of Michigan Retirement System opened 21 new positions and closed 25 in Q3 2017.
  • State of Michigan Retirement System's portfolio value fell 6.7% quarter-over-quarter to $12.4B.

Based on State of Michigan Retirement System's 13F filing for Q3 2017, filed 19 Oct 2017.