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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
+9.85%
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
$20.8B
AUM Growth
+$1.49B
Cap. Flow
-$10.1M
Cap. Flow %
-0.05%
Top 10 Hldgs %
37.6%
Holding
964
New
20
Increased
152
Reduced
703
Closed
20

Top Buys

Rank Stock Value
1
HIMS icon
Hims & Hers Health
HIMS
+$34.8M
2
APP icon
Applovin
APP
+$33.8M
3
OSCR icon
Oscar Health
OSCR
+$23.9M
4
HOOD icon
Robinhood
HOOD
+$22.8M
5
KR icon
Kroger
KR
+$20.7M

Top Sells

Rank Stock Value
1
BIIB icon
Biogen
BIIB
+$33.5M
2
GEHC icon
GE HealthCare
GEHC
+$29.2M
3
BURL icon
Burlington
BURL
+$28.6M
4
VZ icon
Verizon
VZ
+$21.9M
5
ARM icon
Arm
ARM
+$20.7M

Sector Composition

Rank Sector Weight
1 Technology 32.79%
2 Financials 11.65%
3 Communication Services 10.3%
4 Consumer Discretionary 9.76%
5 Healthcare 8.41%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CMG icon
201
Chipotle Mexican Grill
CMG
$40.5B
$16.9M 0.08%
431,500
-3,800
-0.9% -$171K
VST icon
202
Vistra
VST
$48.6B
$16.9M 0.08%
86,100
-6,200
-7% -$1.23M
PWR icon
203
Quanta Services
PWR
$101B
$16.7M 0.08%
40,348
+100
+0.2% +$38.9K
EWZ icon
204
iShares MSCI Brazil ETF
EWZ
$8.6B
$16.7M 0.08%
+538,350
New +$15.4M
APO icon
205
Apollo Global Management
APO
$82.8B
$16.6M 0.08%
124,400
+1,600
+1% +$227K
HLT icon
206
Hilton Worldwide
HLT
$70.8B
$16.5M 0.08%
63,623
-1,000
-2% -$270K
VLO icon
207
Valero Energy
VLO
$93.3B
$16.4M 0.08%
96,062
-1,100
-1% -$164K
FAST icon
208
Fastenal
FAST
$60.1B
$16.3M 0.08%
333,056
-1,600
-0.5% -$75.6K
AEP icon
209
American Electric Power
AEP
$67.3B
$16.3M 0.08%
144,658
-600
-0.4% -$65.6K
FDX icon
210
FedEx
FDX
$76.3B
$16.3M 0.08%
68,967
-1,200
-2% -$277K
SLB icon
211
SLB Ltd
SLB
$79.7B
$15.9M 0.08%
461,838
+33,700
+8% +$1.17M
MAR icon
212
Marriott International
MAR
$91.1B
$15.9M 0.08%
60,936
-900
-1% -$242K
MPC icon
213
Marathon Petroleum
MPC
$94.5B
$15.8M 0.08%
82,210
-1,300
-2% -$229K
O icon
214
Realty Income
O
$58.6B
$15.8M 0.08%
259,648
+1,700
+0.7% +$99K
PCAR icon
215
PACCAR
PCAR
$69.8B
$15.8M 0.08%
160,366
-700
-0.4% -$69K
ETHE
216
Grayscale Ethereum Staking ETF Shares
ETHE
$1.52B
$15.8M 0.08%
460,000
– –
ZM icon
217
Zoom
ZM
$31.1B
$15.7M 0.08%
190,266
– –
REGN icon
218
Regeneron Pharmaceuticals
REGN
$82.1B
$15.5M 0.07%
27,521
-700
-2% -$396K
AFL icon
219
Aflac
AFL
$60.7B
$15.4M 0.07%
138,007
-2,100
-1% -$221K
HDB icon
220
HDFC Bank
HDB
$120B
$15.3M 0.07%
448,600
– –
ALL icon
221
Allstate
ALL
$66.3B
$15.3M 0.07%
71,289
-700
-1% -$141K
D icon
222
Dominion Energy
D
$59.9B
$15.3M 0.07%
249,767
-1,100
-0.4% -$65.4K
FCX icon
223
Freeport-McMoran
FCX
$96.4B
$15.2M 0.07%
388,333
-2,200
-0.6% -$95.4K
AXON
224
Axon Enterprise
AXON
$51.7B
$15.2M 0.07%
21,200
+1,100
+5% +$835K
DLR icon
225
Digital Realty Trust
DLR
$70.6B
$15M 0.07%
86,681
+600
+0.7% +$103K
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
CHP
Castle Hook Partners New York $23.4B AUM 158.96% 1-Year Est. Return
OAG
Orbis Allan Gray Hamilton, Bermuda $23.7B AUM 65.43% 1-Year Est. Return
Jacobs Levy Equity Management
Jacobs Levy Equity Management Florham Park, New Jersey $23.8B AUM 25.4% 1-Year Est. Return

State of Michigan Retirement System's Q3 2025 Portfolio in Review

As of Q3 2025, State of Michigan Retirement System held 964 positions worth $20.8B, up 7.7% from $19.3B the previous quarter. Its ten largest holdings account for 38% of the portfolio.

Trading was light in Q3 2025: portfolio turnover was 4.1%. State of Michigan Retirement System opened 20 new positions and exited 20, leaving the 964-position portfolio largely intact.

By sector, the portfolio is most concentrated in Technology at 33% of assets, up from 31% a quarter earlier, followed by Financials and Communication Services.

  • State of Michigan Retirement System's largest Q3 2025 buy was Oscar Health: 1,450,000 shares worth $27.4M.
  • State of Michigan Retirement System added most to Hims & Hers Health in Q3 2025, an estimated $34.8M increase.
  • State of Michigan Retirement System's biggest Q3 2025 reduction was Biogen, cutting an estimated $33.5M.
  • State of Michigan Retirement System fully exited Arm in Q3 2025, selling an estimated $20.7M.
  • State of Michigan Retirement System's ten largest holdings make up 38% of its $20.8B portfolio in Q3 2025.
  • State of Michigan Retirement System opened 20 new positions and closed 20 in Q3 2025.
  • State of Michigan Retirement System's portfolio value rose 7.7% quarter-over-quarter to $20.8B.

Based on State of Michigan Retirement System's 13F filing for Q3 2025, filed 5 Nov 2025.