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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
-20.36%
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
$9.07B
AUM Growth
-$3.03B
Cap. Flow
-$67.8M
Cap. Flow %
-0.75%
Top 10 Hldgs %
24.73%
Holding
965
New
18
Increased
32
Reduced
868
Closed
22

Top Buys

Rank Stock Value
1
SPG icon
Simon Property Group
SPG
+$198M
2
AAPL icon
Apple
AAPL
+$87.1M
3
META icon
Meta Platforms (Facebook)
META
+$84.1M
4
JPM icon
JPMorgan Chase
JPM
+$68.1M
5
ATH
Athene Holding Ltd. Class A Common Shares
ATH
+$61.7M

Top Sells

Rank Stock Value
1
NLY icon
Annaly Capital Management
NLY
+$157M
2
EG icon
Everest Group
EG
+$47.9M
3
EEFT icon
Euronet Worldwide
EEFT
+$35.6M
4
XLF icon
State Street Financial Select Sector SPDR ETF
XLF
+$32.1M
5
RTX icon
RTX Corp
RTX
+$29.4M

Sector Composition

Rank Sector Weight
1 Technology 19.9%
2 Financials 14.15%
3 Healthcare 13.94%
4 Communication Services 9.15%
5 Consumer Discretionary 7.99%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MSFT icon
1
Microsoft
MSFT
$3.45T
$392M 4.32%
2,486,217
-135,800
-5% -$22.3M
AAPL icon
2
Apple
AAPL
$4.54T
$367M 4.04%
5,769,564
+1,184,400
+26% +$87.1M
SPY icon
3
State Street SPDR S&P 500 ETF Trust
SPY
$790B
$299M 3.29%
1,158,279
-10,000
-0.9% -$3.05M
AMZN icon
4
Amazon
AMZN
$2.92T
$246M 2.72%
2,528,040
-106,000
-4% -$10.3M
AGNC icon
5
AGNC Investment
AGNC
$12.4B
$214M 2.36%
20,232,030
-500,000
-2% -$8.34M
META icon
6
Meta Platforms (Facebook)
META
$1.42T
$191M 2.1%
1,143,574
+429,600
+60% +$84.1M
V icon
7
Visa
V
$684B
$138M 1.52%
857,244
-21,600
-2% -$4.07M
EXC icon
8
Exelon
EXC
$47.2B
$137M 1.51%
5,219,361
-17,245
-0.3% -$542K
GOOGL icon
9
Alphabet (Google) Class A
GOOGL
$4.36T
$130M 1.43%
2,230,560
+85,800
+4% +$5.81M
BRK.B icon
10
Berkshire Hathaway Class B
BRK.B
$1.1T
$129M 1.42%
706,399
-39,120
-5% -$8.31M
JPM icon
11
JPMorgan Chase
JPM
$935B
$119M 1.31%
1,318,985
+560,400
+74% +$68.1M
JNJ icon
12
Johnson & Johnson
JNJ
$618B
$103M 1.14%
788,764
-33,200
-4% -$4.71M
ATH
13
DELISTED
Athene Holding Ltd. Class A Common Shares
ATH
$96.8M 1.07%
3,900,000
+1,550,000
+66% +$61.7M
SPG icon
14
Simon Property Group
SPG
$74.4B
$94.9M 1.05%
1,730,298
+1,656,100
+2,232% +$198M
UNH icon
15
UnitedHealth
UNH
$376B
$89.1M 0.98%
357,113
-12,000
-3% -$3.3M
UGI icon
16
UGI
UGI
$7.74B
$83.2M 0.92%
3,118,000
+1,056,500
+51% +$40M
MA icon
17
Mastercard
MA
$502B
$82.7M 0.91%
342,528
+3,300
+1% +$981K
INTC icon
18
Intel
INTC
$455B
$81M 0.89%
1,497,111
-149,100
-9% -$8.82M
GOOG icon
19
Alphabet (Google) Class C
GOOG
$4.36T
$79.7M 0.88%
1,370,340
-76,000
-5% -$5.16M
PG icon
20
Procter & Gamble
PG
$336B
$78M 0.86%
708,703
-31,500
-4% -$3.78M
CSCO icon
21
Cisco
CSCO
$457B
$76.4M 0.84%
1,944,091
-53,500
-3% -$2.35M
SYK icon
22
Stryker
SYK
$125B
$74.8M 0.82%
449,296
-4,100
-0.9% -$801K
CMCSA icon
23
Comcast
CMCSA
$85B
$73.9M 0.82%
2,150,022
-57,300
-3% -$2.42M
TMO icon
24
Thermo Fisher Scientific
TMO
$213B
$72.4M 0.8%
255,431
-75,100
-23% -$23.7M
USB icon
25
US Bancorp
USB
$98.2B
$72M 0.79%
2,090,942
+852,100
+69% +$41.1M
1
2 3 4 5

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FAM
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BA
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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)
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CAM
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Luther King Capital Management (LKCM)
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SAM
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State of Michigan Retirement System's Q1 2020 Portfolio in Review

As of Q1 2020, State of Michigan Retirement System held 965 positions worth $9.07B, down 25% from $12.1B the previous quarter. Its ten largest holdings account for 25% of the portfolio.

Trading was light in Q1 2020: portfolio turnover was 4.1%. State of Michigan Retirement System opened 18 new positions and exited 22, leaving the 965-position portfolio largely intact.

By sector, the portfolio is most concentrated in Technology at 20% of assets, up from 18% a quarter earlier, followed by Financials and Healthcare.

  • State of Michigan Retirement System's largest Q1 2020 buy was National General Holdings Corp: 1,300,000 shares worth $21.5M.
  • State of Michigan Retirement System added most to Simon Property Group in Q1 2020, an estimated $198M increase.
  • State of Michigan Retirement System's biggest Q1 2020 reduction was Everest Group, cutting an estimated $47.9M.
  • State of Michigan Retirement System fully exited Annaly Capital Management in Q1 2020, selling an estimated $157M.
  • State of Michigan Retirement System's ten largest holdings make up 25% of its $9.07B portfolio in Q1 2020.
  • State of Michigan Retirement System opened 18 new positions and closed 22 in Q1 2020.
  • State of Michigan Retirement System's portfolio value fell 25% quarter-over-quarter to $9.07B.

Based on State of Michigan Retirement System's 13F filing for Q1 2020, filed 28 Apr 2020.