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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
+15.14%
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
$19.3B
AUM Growth
+$1.98B
Cap. Flow
-$3.03M
Cap. Flow %
-0.02%
Top 10 Hldgs %
35.68%
Holding
951
New
7
Increased
468
Reduced
323
Closed
7

Top Buys

Rank Stock Value
1
BIIB icon
Biogen
BIIB
+$31.3M
2
HIMS icon
Hims & Hers Health
HIMS
+$28.6M
3
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$26.1M
4
VZ icon
Verizon
VZ
+$20.6M
5
COF icon
Capital One
COF
+$13.5M

Top Sells

Rank Stock Value
1
RITM icon
Rithm Capital
RITM
+$66.9M
2
NEE icon
NextEra Energy
NEE
+$59.1M
3
XYZ
Block Inc
XYZ
+$36.9M
4
MTUM icon
iShares MSCI USA Momentum Factor ETF
MTUM
+$19.4M
5
DFS
Discover Financial Services
DFS
+$11.6M

Sector Composition

Rank Sector Weight
1 Technology 31.42%
2 Financials 12%
3 Consumer Discretionary 9.92%
4 Communication Services 9.88%
5 Healthcare 8.87%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
FDX icon
201
FedEx
FDX
$75.4B
$15.9M 0.08%
70,167
+1,400
+2% +$307K
CARR icon
202
Carrier Global
CARR
$52.8B
$15.9M 0.08%
216,825
-2,300
-1% -$156K
NSC icon
203
Norfolk Southern
NSC
$75.1B
$15.7M 0.08%
61,290
-100
-0.2% -$23.6K
ABNB icon
204
Airbnb
ABNB
$107B
$15.5M 0.08%
117,400
– –
KMI icon
205
Kinder Morgan
KMI
$68.7B
$15.5M 0.08%
525,645
+1,200
+0.2% +$32.9K
PCAR icon
206
PACCAR
PCAR
$70.1B
$15.3M 0.08%
161,066
+2,800
+2% +$259K
SRE icon
207
Sempra
SRE
$54.8B
$15.3M 0.08%
201,920
+10,700
+6% +$794K
PWR icon
208
Quanta Services
PWR
$101B
$15.2M 0.08%
40,248
+200
+0.5% +$64.2K
AEP icon
209
American Electric Power
AEP
$68.4B
$15.1M 0.08%
145,258
+600
+0.4% +$62.4K
FDS icon
210
Factset
FDS
$10.2B
$15M 0.08%
33,635
– –
DLR icon
211
Digital Realty Trust
DLR
$71.7B
$15M 0.08%
86,081
+200
+0.2% +$32.7K
O icon
212
Realty Income
O
$59.1B
$14.9M 0.08%
257,948
+20,500
+9% +$1.16M
ZM icon
213
Zoom
ZM
$30.6B
$14.8M 0.08%
190,266
+2,300
+1% +$178K
AMP icon
214
Ameriprise Financial
AMP
$48.8B
$14.8M 0.08%
27,778
-500
-2% -$247K
REGN icon
215
Regeneron Pharmaceuticals
REGN
$80.8B
$14.8M 0.08%
28,221
-300
-1% -$167K
AFL icon
216
Aflac
AFL
$62.6B
$14.8M 0.08%
140,107
-2,600
-2% -$273K
URI icon
217
United Rentals
URI
$72.4B
$14.7M 0.08%
19,554
+200
+1% +$134K
ALL icon
218
Allstate
ALL
$67.5B
$14.5M 0.08%
71,989
+100
+0.1% +$20K
TMDX icon
219
Transmedics
TMDX
$2.91B
$14.5M 0.07%
108,000
– –
SLB icon
220
SLB Ltd
SLB
$75B
$14.5M 0.07%
428,138
-3,100
-0.7% -$108K
AIG icon
221
American International
AIG
$41.3B
$14.3M 0.07%
166,667
-7,200
-4% -$600K
D icon
222
Dominion Energy
D
$59.3B
$14.2M 0.07%
250,867
+8,000
+3% +$438K
WDAY icon
223
Workday
WDAY
$44.4B
$14.1M 0.07%
58,900
+800
+1% +$195K
FAST icon
224
Fastenal
FAST
$59.5B
$14.1M 0.07%
334,656
+1,700
+0.5% +$69K
DHI icon
225
D.R. Horton
DHI
$42.3B
$14M 0.07%
108,699
-900
-0.8% -$111K
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 Q2 2025 Portfolio in Review

As of Q2 2025, State of Michigan Retirement System held 951 positions worth $19.3B, up 11% from $17.3B the previous quarter. Its ten largest holdings account for 36% of the portfolio.

Trading was light in Q2 2025: portfolio turnover was 1.5%. State of Michigan Retirement System opened 7 new positions and exited 7, leaving the 951-position portfolio largely intact.

By sector, the portfolio is most concentrated in Technology at 31% of assets, up from 28% a quarter earlier, followed by Financials and Consumer Discretionary.

  • State of Michigan Retirement System's largest Q2 2025 buy was Coinbase: 57,500 shares worth $20.2M.
  • State of Michigan Retirement System added most to Biogen in Q2 2025, an estimated $31.3M increase.
  • State of Michigan Retirement System's biggest Q2 2025 reduction was Rithm Capital, cutting an estimated $66.9M.
  • State of Michigan Retirement System fully exited Discover Financial Services in Q2 2025, selling an estimated $11.6M.
  • State of Michigan Retirement System's ten largest holdings make up 36% of its $19.3B portfolio in Q2 2025.
  • State of Michigan Retirement System opened 7 new positions and closed 7 in Q2 2025.
  • State of Michigan Retirement System's portfolio value rose 11% quarter-over-quarter to $19.3B.

Based on State of Michigan Retirement System's 13F filing for Q2 2025, filed 5 Aug 2025.