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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
-4.87%
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
$17.3B
AUM Growth
-$1.79B
Cap. Flow
-$625M
Cap. Flow %
-3.62%
Top 10 Hldgs %
37.1%
Holding
987
New
12
Increased
626
Reduced
266
Closed
39

Top Buys

Rank Stock Value
1
META icon
Meta Platforms (Facebook)
META
+$326M
2
LQD icon
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
+$112M
3
GILD icon
Gilead Sciences
GILD
+$38.4M
4
SPGI icon
S&P Global
SPGI
+$36.4M
5
TDG icon
TransDigm Group
TDG
+$33.8M

Top Sells

Rank Stock Value
1
ATH
Athene Holding Ltd. Class A Common Shares
ATH
+$325M
2
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$181M
3
SPG icon
Simon Property Group
SPG
+$156M
4
VST icon
Vistra
VST
+$131M
5
BMY icon
Bristol-Myers Squibb
BMY
+$109M

Sector Composition

Rank Sector Weight
1 Technology 21.58%
2 Healthcare 11.99%
3 Communication Services 11.98%
4 Financials 9.11%
5 Consumer Discretionary 8.59%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SPY icon
1
State Street SPDR S&P 500 ETF Trust
SPY
$790B
$1.88B 10.88%
4,164,640
-406,900
-9% -$181M
AAPL icon
2
Apple
AAPL
$4.54T
$833M 4.82%
4,772,225
-25,169
-0.5% -$4.23M
MSFT icon
3
Microsoft
MSFT
$3.45T
$776M 4.49%
2,518,027
-14,618
-0.6% -$4.4M
T icon
4
AT&T
T
$159B
$552M 3.19%
30,932,894
+4,878
+0% +$90.3K
META icon
5
Meta Platforms (Facebook)
META
$1.42T
$474M 2.74%
2,131,614
+1,303,553
+157% +$326M
AMZN icon
6
Amazon
AMZN
$2.92T
$461M 2.67%
2,830,720
-21,820
-0.8% -$3.37M
LQD icon
7
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$34.3B
$433M 2.51%
3,581,400
+897,500
+33% +$112M
AGG icon
8
iShares Core US Aggregate Bond ETF
AGG
$137B
$362M 2.09%
3,379,500
+248,200
+8% +$27.3M
GOOGL icon
9
Alphabet (Google) Class A
GOOGL
$4.36T
$321M 1.86%
2,306,580
+6,280
+0.3% +$853K
BMY icon
10
Bristol-Myers Squibb
BMY
$133B
$319M 1.84%
4,365,433
-1,629,034
-27% -$109M
MTUM icon
11
iShares MSCI USA Momentum Factor ETF
MTUM
$25B
$294M 1.7%
1,749,750
+97,300
+6% +$16M
NVDA icon
12
NVIDIA
NVDA
$4.86T
$241M 1.4%
8,845,060
+452,020
+5% +$11.3M
TSLA icon
13
Tesla
TSLA
$1.23T
$228M 1.32%
633,657
+19,257
+3% +$6M
GOOG icon
14
Alphabet (Google) Class C
GOOG
$4.36T
$202M 1.17%
1,445,660
-5,320
-0.4% -$723K
VZ icon
15
Verizon
VZ
$195B
$181M 1.05%
3,559,050
+16,715
+0.5% +$885K
UNH icon
16
UnitedHealth
UNH
$376B
$172M 1%
337,519
+10,404
+3% +$5.02M
JNJ icon
17
Johnson & Johnson
JNJ
$618B
$130M 0.75%
732,724
+1,237
+0.2% +$210K
CRM icon
18
Salesforce
CRM
$151B
$121M 0.7%
572,243
+2,251
+0.4% +$484K
MA icon
19
Mastercard
MA
$502B
$121M 0.7%
337,181
+1,777
+0.5% +$639K
ACN icon
20
Accenture
ACN
$102B
$115M 0.67%
341,138
+385
+0.1% +$130K
BRK.B icon
21
Berkshire Hathaway Class B
BRK.B
$1.1T
$115M 0.66%
325,649
+2,287
+0.7% +$740K
HD icon
22
Home Depot
HD
$331B
$113M 0.66%
378,484
-2,172
-0.6% -$753K
GILD icon
23
Gilead Sciences
GILD
$162B
$113M 0.65%
1,903,743
+600,635
+46% +$38.4M
JPM icon
24
JPMorgan Chase
JPM
$935B
$102M 0.59%
745,431
+1,388
+0.2% +$205K
V icon
25
Visa
V
$684B
$99M 0.57%
446,523
-3,850
-0.9% -$833K
1
2 3 4 5

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
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)
Luther King Capital Management (LKCM) Fort Worth, Texas $23.1B AUM 21.31% 1-Year Est. Return
SAM
SEB Asset Management Stockholm $23.4B AUM

State of Michigan Retirement System's Q1 2022 Portfolio in Review

As of Q1 2022, State of Michigan Retirement System held 987 positions worth $17.3B, down 9.4% from $19.1B the previous quarter. Its ten largest holdings account for 37% of the portfolio.

State of Michigan Retirement System withdrew a net $625M in Q1 2022, closing 39 positions and reducing 266 holdings. Its most notable exit was Athene Holding Ltd. Class A Common Shares, an estimated $325M position sold in full.

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

Against the trend, State of Michigan Retirement System opened a new position in S&P Global worth $36.7M.

  • State of Michigan Retirement System's largest Q1 2022 buy was S&P Global: 89,353 shares worth $36.7M.
  • State of Michigan Retirement System added most to Meta Platforms (Facebook) in Q1 2022, an estimated $326M increase.
  • State of Michigan Retirement System's biggest Q1 2022 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $181M.
  • State of Michigan Retirement System fully exited Athene Holding Ltd. Class A Common Shares in Q1 2022, selling an estimated $325M.
  • State of Michigan Retirement System's ten largest holdings make up 37% of its $17.3B portfolio in Q1 2022.
  • State of Michigan Retirement System opened 12 new positions and closed 39 in Q1 2022.
  • State of Michigan Retirement System's portfolio value fell 9.4% quarter-over-quarter to $17.3B.

Based on State of Michigan Retirement System's 13F filing for Q1 2022, filed 4 May 2022.