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SOMRS

State of Michigan Retirement System Portfolio holdings

AUM $18.9B
1-Year Est. Return 27.96%
This Fund
S&P 500
This Quarter Est. Return
+22.37%
1 Year Est. Return
+27.96%
3 Year Est. Return
+96.72%
5 Year Est. Return
+118.4%
10 Year Est. Return
+412.12%
AUM
$11.4B
AUM Growth
+$2.34B
Cap. Flow
+$480M
Cap. Flow %
4.21%
Top 10 Hldgs %
24.68%
Holding
969
New
26
Increased
830
Reduced
54
Closed
38

Top Buys

Rank Stock Value
1
LQD icon
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
+$178M
2
AGG icon
iShares Core US Aggregate Bond ETF
AGG
+$152M
3
CVS icon
CVS Health
CVS
+$102M
4
RTX icon
RTX Corp
RTX
+$61.1M
5
ETRN
Equitrans Midstream Corporation Common Stock
ETRN
+$51M

Top Sells

Rank Stock Value
1
AGNC icon
AGNC Investment
AGNC
+$197M
2
EXC icon
Exelon
EXC
+$92.1M
3
META icon
Meta Platforms (Facebook)
META
+$85.5M
4
GIS icon
General Mills
GIS
+$45.5M
5
RTN
Raytheon Company
RTN
+$39.1M

Sector Composition

Rank Sector Weight
1 Technology 22.75%
2 Healthcare 13.43%
3 Financials 13.35%
4 Consumer Discretionary 8.62%
5 Communication Services 8.42%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AAPL icon
1
Apple
AAPL
$4.97T
$548M 4.8%
6,010,028
+240,464
+4% +$18.6M
MSFT icon
2
Microsoft
MSFT
$2.9T
$545M 4.77%
2,676,625
+190,408
+8% +$34.6M
AMZN icon
3
Amazon
AMZN
$2.44T
$372M 3.26%
2,699,660
+171,620
+7% +$20.7M
SPY icon
4
State Street SPDR S&P 500 ETF Trust
SPY
$771B
$349M 3.06%
1,131,650
-26,629
-2% -$7.79M
LQD icon
5
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$34.3B
$184M 1.61%
+1,366,000
New +$178M
AGG icon
6
iShares Core US Aggregate Bond ETF
AGG
$138B
$175M 1.53%
1,481,000
+1,301,000
+723% +$152M
V icon
7
Visa
V
$677B
$175M 1.53%
905,349
+48,105
+6% +$8.79M
META icon
8
Meta Platforms (Facebook)
META
$1.49T
$167M 1.46%
734,157
-409,417
-36% -$85.5M
GOOGL icon
9
Alphabet (Google) Class A
GOOGL
$4.12T
$157M 1.38%
2,213,580
-16,980
-0.8% -$1.14M
HD icon
10
Home Depot
HD
$337B
$146M 1.28%
581,556
+211,528
+57% +$48.4M
CVS icon
11
CVS Health
CVS
$135B
$126M 1.1%
1,940,163
+1,623,719
+513% +$102M
BRK.B icon
12
Berkshire Hathaway Class B
BRK.B
$1.1T
$124M 1.08%
691,942
-14,457
-2% -$2.64M
ATH
13
DELISTED
Athene Holding Ltd. Class A Common Shares
ATH
$122M 1.07%
3,900,000
– –
JNJ icon
14
Johnson & Johnson
JNJ
$640B
$121M 1.06%
858,387
+69,623
+9% +$10.1M
JPM icon
15
JPMorgan Chase
JPM
$916B
$120M 1.05%
1,278,243
-40,742
-3% -$3.87M
SPG icon
16
Simon Property Group
SPG
$76.4B
$114M 1%
1,673,135
-57,163
-3% -$3.59M
INTC icon
17
Intel
INTC
$413B
$109M 0.95%
1,821,135
+324,024
+22% +$19.4M
UNH icon
18
UnitedHealth
UNH
$382B
$108M 0.95%
367,215
+10,102
+3% +$2.89M
MA icon
19
Mastercard
MA
$498B
$108M 0.95%
364,764
+22,236
+6% +$6.27M
PG icon
20
Procter & Gamble
PG
$340B
$108M 0.94%
901,796
+193,093
+27% +$22.5M
GOOG icon
21
Alphabet (Google) Class C
GOOG
$4.11T
$106M 0.92%
1,493,220
+122,880
+9% +$8.29M
UGI icon
22
UGI
UGI
$7.87B
$99.7M 0.87%
3,135,808
+17,808
+0.6% +$540K
TMO icon
23
Thermo Fisher Scientific
TMO
$214B
$99.5M 0.87%
274,518
+19,087
+7% +$6.4M
ADBE icon
24
Adobe
ADBE
$105B
$95.9M 0.84%
220,399
+12,146
+6% +$4.5M
CSCO icon
25
Cisco
CSCO
$443B
$95.8M 0.84%
2,054,673
+110,582
+6% +$4.85M
1
2 3 4 5

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BPA
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NAM
Nissay Asset Management Tokyo, Japan $18.9B AUM 27.21% 1-Year Est. Return
JAM
Jupiter Asset Management London, United Kingdom $18.8B AUM 29.2% 1-Year Est. Return
LF
Lansforsakringar Fondforvaltning Stockholm, Sweden $19.1B AUM 26.9% 1-Year Est. Return
A
AustralianSuper Melbourne, Australia $19.2B AUM 31.95% 1-Year Est. Return
BBHC
Brown Brothers Harriman & Co New York $18.6B AUM 15.81% 1-Year Est. Return
CS
Candriam SCA Strassen, Luxembourg, Luxembourg $19.3B AUM 39.18% 1-Year Est. Return
PCM
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State of Michigan Retirement System's Q2 2020 Portfolio in Review

As of Q2 2020, State of Michigan Retirement System held 969 positions worth $11.4B, up 26% from $9.07B the previous quarter. Its ten largest holdings account for 25% of the portfolio.

State of Michigan Retirement System deployed $480M of net new capital in Q2 2020, opening 26 new positions and adding to 830 existing holdings. Its largest new stake was iShares iBoxx $ Investment Grade Corporate Bond ETF: 1,366,000 shares worth $184M.

By sector, the portfolio is most concentrated in Technology at 23% of assets, up from 20% a quarter earlier, followed by Healthcare and Financials.

On the sell side, the largest reduction was AGNC Investment, an estimated $197M trimmed.

  • State of Michigan Retirement System's largest Q2 2020 buy was iShares iBoxx $ Investment Grade Corporate Bond ETF: 1,366,000 shares worth $184M.
  • State of Michigan Retirement System added most to iShares Core US Aggregate Bond ETF in Q2 2020, an estimated $152M increase.
  • State of Michigan Retirement System's biggest Q2 2020 reduction was AGNC Investment, cutting an estimated $197M.
  • State of Michigan Retirement System fully exited Raytheon Company in Q2 2020, selling an estimated $39.1M.
  • State of Michigan Retirement System's ten largest holdings make up 25% of its $11.4B portfolio in Q2 2020.
  • State of Michigan Retirement System opened 26 new positions and closed 38 in Q2 2020.
  • State of Michigan Retirement System's portfolio value rose 26% quarter-over-quarter to $11.4B.

Based on State of Michigan Retirement System's 13F filing for Q2 2020, filed 29 Jul 2020.