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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
+9.95%
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
$12.6B
AUM Growth
+$1.17B
Cap. Flow
+$238M
Cap. Flow %
1.89%
Top 10 Hldgs %
25.04%
Holding
971
New
40
Increased
506
Reduced
189
Closed
15

Top Buys

Rank Stock Value
1
MTUM icon
iShares MSCI USA Momentum Factor ETF
MTUM
+$92.2M
2
AGG icon
iShares Core US Aggregate Bond ETF
AGG
+$88.1M
3
LQD icon
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
+$82.4M
4
ALGN icon
Align Technology
ALGN
+$21.2M
5
PYPL icon
PayPal
PYPL
+$20.1M

Top Sells

Rank Stock Value
1
AAPL icon
Apple
AAPL
+$126M
2
RTX icon
RTX Corp
RTX
+$35.9M
3
BKNG icon
Booking.com
BKNG
+$31.3M
4
ADP icon
Automatic Data Processing
ADP
+$30M
5
NGHC
National General Holdings Corp
NGHC
+$28.1M

Sector Composition

Rank Sector Weight
1 Technology 21.93%
2 Healthcare 13.28%
3 Financials 12.53%
4 Consumer Discretionary 9.25%
5 Communication Services 8.92%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MSFT icon
1
Microsoft
MSFT
$3.45T
$565M 4.49%
2,687,025
+10,400
+0.4% +$2.18M
AAPL icon
2
Apple
AAPL
$4.54T
$563M 4.47%
4,859,399
-1,150,629
-19% -$126M
AMZN icon
3
Amazon
AMZN
$2.92T
$427M 3.39%
2,711,420
+11,760
+0.4% +$1.85M
SPY icon
4
State Street SPDR S&P 500 ETF Trust
SPY
$790B
$391M 3.11%
1,166,650
+35,000
+3% +$11.6M
LQD icon
5
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$34.3B
$265M 2.11%
1,970,500
+604,500
+44% +$82.4M
AGG icon
6
iShares Core US Aggregate Bond ETF
AGG
$137B
$262M 2.09%
2,223,300
+742,300
+50% +$88.1M
META icon
7
Meta Platforms (Facebook)
META
$1.42T
$191M 1.52%
728,057
-6,100
-0.8% -$1.57M
V icon
8
Visa
V
$684B
$171M 1.36%
852,649
-52,700
-6% -$10.5M
HD icon
9
Home Depot
HD
$331B
$162M 1.28%
581,556
– –
GOOGL icon
10
Alphabet (Google) Class A
GOOGL
$4.36T
$154M 1.22%
2,095,580
-118,000
-5% -$8.99M
BRK.B icon
11
Berkshire Hathaway Class B
BRK.B
$1.1T
$149M 1.19%
700,942
+9,000
+1% +$1.84M
ATH
12
DELISTED
Athene Holding Ltd. Class A Common Shares
ATH
$133M 1.06%
3,904,800
+4,800
+0.1% +$165K
JNJ icon
13
Johnson & Johnson
JNJ
$618B
$131M 1.04%
878,487
+20,100
+2% +$2.97M
MA icon
14
Mastercard
MA
$506B
$126M 1%
373,564
+8,800
+2% +$2.86M
PG icon
15
Procter & Gamble
PG
$336B
$126M 1%
904,796
+3,000
+0.3% +$398K
TMO icon
16
Thermo Fisher Scientific
TMO
$213B
$124M 0.98%
280,518
+6,000
+2% +$2.48M
JPM icon
17
JPMorgan Chase
JPM
$935B
$119M 0.95%
1,237,643
-40,600
-3% -$3.99M
UNH icon
18
UnitedHealth
UNH
$376B
$117M 0.93%
374,815
+7,600
+2% +$2.33M
CVS icon
19
CVS Health
CVS
$133B
$115M 0.91%
1,967,663
+27,500
+1% +$1.71M
GOOG icon
20
Alphabet (Google) Class C
GOOG
$4.36T
$112M 0.89%
1,523,220
+30,000
+2% +$2.29M
PINS icon
21
Pinterest
PINS
$13.4B
$111M 0.88%
2,666,569
-251,086
-9% -$8.19M
ADBE icon
22
Adobe
ADBE
$99.5B
$109M 0.87%
223,199
+2,800
+1% +$1.3M
SPG icon
23
Simon Property Group
SPG
$74.4B
$109M 0.86%
1,682,035
+8,900
+0.5% +$584K
CMCSA icon
24
Comcast
CMCSA
$85B
$105M 0.84%
2,272,646
– –
UGI icon
25
UGI
UGI
$7.74B
$104M 0.82%
3,138,808
+3,000
+0.1% +$99.5K
1
2 3 4 5

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FAM
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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)
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SAM
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State of Michigan Retirement System's Q3 2020 Portfolio in Review

As of Q3 2020, State of Michigan Retirement System held 971 positions worth $12.6B, up 10% from $11.4B the previous quarter. Its ten largest holdings account for 25% of the portfolio.

State of Michigan Retirement System's Q3 2020 filing shows 40 new, 506 increased, 189 reduced and 15 closed positions. Its largest new stake was iShares MSCI USA Momentum Factor ETF: 645,300 shares worth $95.1M. The largest sale was Apple, an estimated $126M.

By sector, the portfolio is most concentrated in Technology at 22% of assets, down from 23% a quarter earlier, followed by Healthcare and Financials.

  • State of Michigan Retirement System's largest Q3 2020 buy was iShares MSCI USA Momentum Factor ETF: 645,300 shares worth $95.1M.
  • State of Michigan Retirement System added most to iShares Core US Aggregate Bond ETF in Q3 2020, an estimated $88.1M increase.
  • State of Michigan Retirement System's biggest Q3 2020 reduction was Apple, cutting an estimated $126M.
  • State of Michigan Retirement System fully exited National General Holdings Corp in Q3 2020, selling an estimated $28.1M.
  • State of Michigan Retirement System's ten largest holdings make up 25% of its $12.6B portfolio in Q3 2020.
  • State of Michigan Retirement System opened 40 new positions and closed 15 in Q3 2020.
  • State of Michigan Retirement System's portfolio value rose 10% quarter-over-quarter to $12.6B.

Based on State of Michigan Retirement System's 13F filing for Q3 2020, filed 26 Oct 2020.