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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
HLT icon
201
Hilton Worldwide
HLT
$70B
$14.8M 0.09%
65,223
-900
-1% -$224K
MAR icon
202
Marriott International
MAR
$90.9B
$14.8M 0.09%
62,036
-600
-1% -$163K
FCX icon
203
Freeport-McMoran
FCX
$98.7B
$14.8M 0.09%
389,833
-200
-0.1% -$7.65K
KR icon
204
Kroger
KR
$34.6B
$14.8M 0.09%
217,987
-400,100
-65% -$25.4M
F icon
205
Ford
F
$55.8B
$14.6M 0.08%
1,454,479
-3,400
-0.2% -$33.2K
PAYX icon
206
Paychex
PAYX
$43.1B
$14.6M 0.08%
94,377
– –
NSC icon
207
Norfolk Southern
NSC
$75B
$14.5M 0.08%
61,390
– –
HWM icon
208
Howmet Aerospace
HWM
$113B
$14.3M 0.08%
109,845
-400
-0.4% -$50.8K
PSA icon
209
Public Storage
PSA
$60.8B
$14.1M 0.08%
47,121
– –
ABNB icon
210
Airbnb
ABNB
$111B
$14M 0.08%
117,400
-100
-0.1% -$13.4K
DHI icon
211
D.R. Horton
DHI
$41B
$13.9M 0.08%
109,599
-2,200
-2% -$295K
CARR icon
212
Carrier Global
CARR
$52.3B
$13.9M 0.08%
219,125
-7,300
-3% -$485K
ZM icon
213
Zoom
ZM
$31.4B
$13.9M 0.08%
187,966
+40,000
+27% +$3.19M
PSX icon
214
Phillips 66
PSX
$86B
$13.8M 0.08%
112,012
-100
-0.1% -$12.3K
RCL icon
215
Royal Caribbean
RCL
$82.4B
$13.8M 0.08%
67,201
+100
+0.1% +$23.6K
O icon
216
Realty Income
O
$58.6B
$13.8M 0.08%
237,448
-100
-0% -$5.54K
TEL icon
217
TE Connectivity
TEL
$62B
$13.7M 0.08%
96,923
-200
-0.2% -$29.6K
ARM icon
218
Arm
ARM
$286B
$13.7M 0.08%
128,200
– –
AMP icon
219
Ameriprise Financial
AMP
$49.2B
$13.7M 0.08%
28,278
-300
-1% -$157K
SRE icon
220
Sempra
SRE
$55.1B
$13.6M 0.08%
191,220
-100
-0.1% -$7.79K
D icon
221
Dominion Energy
D
$59.1B
$13.6M 0.08%
242,867
-100
-0% -$5.5K
MET icon
222
MetLife
MET
$61.7B
$13.6M 0.08%
169,056
-800
-0.5% -$66.5K
WDAY icon
223
Workday
WDAY
$45.5B
$13.6M 0.08%
58,100
+300
+0.5% +$76.6K
RSG icon
224
Republic Services
RSG
$65.7B
$13.3M 0.08%
55,087
-200
-0.4% -$44.8K
ODFL icon
225
Old Dominion Freight Line
ODFL
$44.1B
$13M 0.08%
78,688
– –
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
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
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
IC
IEQ Capital Foster City, California $21.5B AUM 75.26% 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.