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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
CCI icon
201
Crown Castle
CCI
$32.2B
$13.7M 0.08%
118,852
– –
WELL icon
202
Welltower
WELL
$171B
$13.7M 0.08%
151,509
+9,300
+7% +$807K
LEN icon
203
Lennar Class A
LEN
$21.2B
$13.6M 0.08%
94,018
– –
AJG icon
204
Arthur J. Gallagher & Co
AJG
$63.6B
$13.3M 0.08%
59,087
– –
CARR icon
205
Carrier Global
CARR
$52.8B
$13.2M 0.08%
229,725
+100
+0% +$5.29K
DXCM icon
206
DexCom
DXCM
$32B
$13.1M 0.08%
105,800
-500
-0.5% -$51.1K
NEM icon
207
Newmont
NEM
$119B
$13.1M 0.08%
315,545
+97,700
+45% +$3.77M
FOUR icon
208
Shift4
FOUR
$3.26B
$13M 0.08%
175,000
-143,400
-45% -$8.55M
AFL icon
209
Aflac
AFL
$62.6B
$12.9M 0.08%
155,907
+7,700
+5% +$620K
NUE icon
210
Nucor
NUE
$62.1B
$12.8M 0.08%
73,810
-9,300
-11% -$1.47M
ROST icon
211
Ross Stores
ROST
$81.9B
$12.8M 0.08%
92,756
-600
-0.6% -$74.7K
HLT icon
212
Hilton Worldwide
HLT
$71.5B
$12.8M 0.08%
70,223
-1,500
-2% -$245K
ADM icon
213
Archer Daniels Midland
ADM
$36.9B
$12.7M 0.08%
176,441
– –
CTSH icon
214
Cognizant
CTSH
$26B
$12.6M 0.07%
166,323
+3,000
+2% +$207K
SHOP icon
215
Shopify
SHOP
$195B
$12.5M 0.07%
160,000
– –
AZO icon
216
AutoZone
AZO
$51.1B
$12.4M 0.07%
4,806
-200
-4% -$519K
MNST icon
217
Monster Beverage
MNST
$88.5B
$12.3M 0.07%
213,016
-200
-0.1% -$10.7K
CNC icon
218
Centene
CNC
$32.5B
$12.3M 0.07%
165,327
-800
-0.5% -$57.7K
URI icon
219
United Rentals
URI
$72.4B
$12.2M 0.07%
21,254
– –
MET icon
220
MetLife
MET
$62.1B
$12.2M 0.07%
183,956
-5,500
-3% -$344K
LHX icon
221
L3Harris
LHX
$53.4B
$12M 0.07%
57,130
+800
+1% +$150K
TRV icon
222
Travelers Companies
TRV
$80.2B
$11.9M 0.07%
62,553
-200
-0.3% -$34.6K
BNY
223
Bank of New York Mellon
BNY
$107B
$11.8M 0.07%
226,355
-6,900
-3% -$318K
JCI icon
224
Johnson Controls International
JCI
$92.2B
$11.8M 0.07%
204,142
+3,600
+2% +$189K
CELH icon
225
Celsius Holdings
CELH
$7.03B
$11.8M 0.07%
215,600
+200
+0.1% +$10.7K
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 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.