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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
+9.08%
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
$17B
AUM Growth
+$1.22B
Cap. Flow
-$74.4M
Cap. Flow %
-0.44%
Top 10 Hldgs %
25.67%
Holding
996
New
21
Increased
308
Reduced
572
Closed
27

Top Buys

Rank Stock Value
1
LQD icon
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
+$92.9M
2
EMB icon
iShares JPMorgan USD Emerging Markets Bond ETF
EMB
+$74.9M
3
MSFT icon
Microsoft
MSFT
+$64.6M
4
MS icon
Morgan Stanley
MS
+$55.1M
5
PG icon
Procter & Gamble
PG
+$54.1M

Top Sells

Rank Stock Value
1
BRK.B icon
Berkshire Hathaway Class B
BRK.B
+$80.1M
2
CMCSA icon
Comcast
CMCSA
+$63.1M
3
ORCL icon
Oracle
ORCL
+$61.8M
4
SYF icon
Synchrony
SYF
+$52.9M
5
TMO icon
Thermo Fisher Scientific
TMO
+$51.8M

Sector Composition

Rank Sector Weight
1 Technology 22.8%
2 Healthcare 13.25%
3 Financials 12.15%
4 Miscellaneous 9.98%
5 Communication Services 9.68%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AAPL icon
1
Apple
AAPL
$4.84T
$753M 4.42%
5,500,554
-229,200
-4% -$29.7M
MSFT icon
2
Microsoft
MSFT
$3.69T
$747M 4.38%
2,755,725
+254,200
+10% +$64.6M
SPY icon
3
State Street SPDR S&P 500 ETF Trust
SPY
$799B
$559M 3.28%
1,306,240
+41,890
+3% +$17.5M
AMZN icon
4
Amazon
AMZN
$2.68T
$478M 2.8%
2,776,540
+48,000
+2% +$7.98M
LQD icon
5
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$29.1B
$438M 2.57%
3,258,300
+704,400
+28% +$92.9M
AGG icon
6
iShares Core US Aggregate Bond ETF
AGG
$137B
$336M 1.97%
2,913,300
+271,800
+10% +$31.1M
GOOGL icon
7
Alphabet (Google) Class A
GOOGL
$4.22T
$270M 1.59%
2,213,580
+8,000
+0.4% +$934K
BMY icon
8
Bristol-Myers Squibb
BMY
$130B
$265M 1.55%
3,960,843
+66,700
+2% +$4.35M
META icon
9
Meta Platforms (Facebook)
META
$1.71T
$264M 1.55%
758,057
+44,000
+6% +$14.1M
ATH
10
DELISTED
Athene Holding Ltd. Class A Common Shares
ATH
$263M 1.55%
3,902,800
-200
-0% -$12K
T icon
11
AT&T
T
$183B
$226M 1.33%
10,385,206
+1,976,732
+24% +$45M
SPG icon
12
Simon Property Group
SPG
$66B
$220M 1.29%
1,683,035
-400
-0% -$49.7K
GOOG icon
13
Alphabet (Google) Class C
GOOG
$4.18T
$182M 1.07%
1,453,220
-10,000
-0.7% -$1.19M
NVDA icon
14
NVIDIA
NVDA
$5.12T
$169M 0.99%
8,430,840
+8,000
+0.1% +$128K
JNJ icon
15
Johnson & Johnson
JNJ
$644B
$159M 0.93%
964,387
+6,300
+0.7% +$1.04M
VZ icon
16
Verizon
VZ
$214B
$157M 0.92%
2,800,735
-854,800
-23% -$49.1M
HD icon
17
Home Depot
HD
$305B
$155M 0.91%
487,556
-2,900
-0.6% -$922K
PYPL icon
18
PayPal
PYPL
$46B
$155M 0.91%
530,320
-18,600
-3% -$4.91M
CVS icon
19
CVS Health
CVS
$121B
$152M 0.89%
1,817,063
+147,100
+9% +$12M
UGI icon
20
UGI
UGI
$8.11B
$144M 0.85%
3,116,108
-25,000
-0.8% -$1.12M
PG icon
21
Procter & Gamble
PG
$341B
$137M 0.81%
1,017,796
+399,800
+65% +$54.1M
V icon
22
Visa
V
$701B
$134M 0.78%
571,249
-3,100
-0.5% -$709K
TSLA icon
23
Tesla
TSLA
$1.41T
$132M 0.77%
581,100
+3,000
+0.5% +$651K
ADBE icon
24
Adobe
ADBE
$102B
$130M 0.76%
221,499
– –
MTUM icon
25
iShares MSCI USA Momentum Factor ETF
MTUM
$24.1B
$128M 0.75%
735,490
-9,200
-1% -$1.56M
1
2 3 4 5

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GT
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EIM
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CIG
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Capital Fund Management (CFM)
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CB
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BBHC
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LF
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CI
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State of Michigan Retirement System's Q2 2021 Portfolio in Review

As of Q2 2021, State of Michigan Retirement System held 996 positions worth $17B, up 7.7% from $15.8B the previous quarter. Its ten largest holdings account for 26% of the portfolio.

Trading was light in Q2 2021: portfolio turnover was 4.8%. State of Michigan Retirement System opened 21 new positions and exited 27, leaving the 996-position portfolio largely intact.

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

  • State of Michigan Retirement System's largest Q2 2021 buy was iShares JPMorgan USD Emerging Markets Bond ETF: 673,200 shares worth $75.7M.
  • State of Michigan Retirement System added most to iShares iBoxx $ Investment Grade Corporate Bond ETF in Q2 2021, an estimated $92.9M increase.
  • State of Michigan Retirement System's biggest Q2 2021 reduction was Berkshire Hathaway Class B, cutting an estimated $80.1M.
  • State of Michigan Retirement System fully exited Renewable Energy Group, Inc. in Q2 2021, selling an estimated $23.5M.
  • State of Michigan Retirement System's ten largest holdings make up 26% of its $17B portfolio in Q2 2021.
  • State of Michigan Retirement System opened 21 new positions and closed 27 in Q2 2021.
  • State of Michigan Retirement System's portfolio value rose 7.7% quarter-over-quarter to $17B.

Based on State of Michigan Retirement System's 13F filing for Q2 2021, filed 27 Jul 2021.