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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
-5.11%
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
$13.6B
AUM Growth
-$980M
Cap. Flow
-$85M
Cap. Flow %
-0.62%
Top 10 Hldgs %
33.68%
Holding
987
New
17
Increased
290
Reduced
538
Closed
21

Top Buys

Rank Stock Value
1
VZ icon
Verizon
VZ
+$154M
2
OMF icon
OneMain Financial
OMF
+$45.6M
3
PAYC icon
Paycom
PAYC
+$30.7M
4
V icon
Visa
V
+$21.6M
5
EXAS
Exact Sciences
EXAS
+$15.5M

Top Sells

Rank Stock Value
1
META icon
Meta Platforms (Facebook)
META
+$87.6M
2
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$59.3M
3
APO icon
Apollo Global Management
APO
+$50.3M
4
NFLX icon
Netflix
NFLX
+$44.3M
5
T icon
AT&T
T
+$30.4M

Sector Composition

Rank Sector Weight
1 Technology 20.64%
2 Healthcare 11.9%
3 Financials 11.47%
4 Communication Services 9.87%
5 Consumer Discretionary 8.85%
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
$787B
$1.46B 10.74%
4,093,490
-149,250
-4% -$59.3M
AAPL icon
2
Apple
AAPL
$4.41T
$674M 4.95%
4,875,425
-62,011
-1% -$9.73M
MSFT icon
3
Microsoft
MSFT
$3.45T
$589M 4.33%
2,528,427
-31,333
-1% -$8.27M
AMZN icon
4
Amazon
AMZN
$2.91T
$334M 2.45%
2,951,720
+37,120
+1% +$4.69M
LQD icon
5
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$34.2B
$317M 2.33%
3,097,400
– –
T icon
6
AT&T
T
$159B
$277M 2.03%
18,036,913
-1,673,000
-8% -$30.4M
VZ icon
7
Verizon
VZ
$194B
$270M 1.98%
7,106,650
+3,465,312
+95% +$154M
GOOGL icon
8
Alphabet (Google) Class A
GOOGL
$4.33T
$238M 1.75%
2,491,580
-120,680
-5% -$13.4M
MTUM icon
9
iShares MSCI USA Momentum Factor ETF
MTUM
$25.2B
$233M 1.71%
1,773,234
-36,200
-2% -$5.08M
TSLA icon
10
Tesla
TSLA
$1.22T
$191M 1.4%
720,857
+41,600
+6% +$11.6M
UNH icon
11
UnitedHealth
UNH
$382B
$181M 1.33%
358,119
+5,000
+1% +$2.63M
APO icon
12
Apollo Global Management
APO
$71.5B
$166M 1.22%
3,571,100
-915,660
-20% -$50.3M
GOOG icon
13
Alphabet (Google) Class C
GOOG
$4.33T
$143M 1.05%
1,484,960
-36,700
-2% -$4.1M
META icon
14
Meta Platforms (Facebook)
META
$1.4T
$133M 0.97%
977,414
-540,446
-36% -$87.6M
JNJ icon
15
Johnson & Johnson
JNJ
$621B
$124M 0.91%
759,824
+1,600
+0.2% +$271K
NVDA icon
16
NVIDIA
NVDA
$4.8T
$107M 0.79%
8,839,060
-979,180
-10% -$15.5M
MA icon
17
Mastercard
MA
$505B
$105M 0.77%
367,981
-1,167
-0.3% -$387K
HD icon
18
Home Depot
HD
$330B
$103M 0.76%
373,184
-600
-0.2% -$177K
V icon
19
Visa
V
$682B
$102M 0.75%
575,923
+106,347
+23% +$21.6M
XOM icon
20
ExxonMobil
XOM
$638B
$98.5M 0.72%
1,127,974
-8,600
-0.8% -$785K
BRK.B icon
21
Berkshire Hathaway Class B
BRK.B
$1.1T
$95.7M 0.7%
358,249
-800
-0.2% -$228K
TDOC icon
22
Teladoc Health
TDOC
$1.21B
$94.8M 0.7%
3,739,500
+33,131
+0.9% +$1.16M
BMY icon
23
Bristol-Myers Squibb
BMY
$132B
$86.4M 0.64%
1,215,933
+53,500
+5% +$3.88M
JPM icon
24
JPMorgan Chase
JPM
$941B
$82.9M 0.61%
793,731
+1,000
+0.1% +$115K
TMO icon
25
Thermo Fisher Scientific
TMO
$212B
$82.2M 0.6%
162,010
+400
+0.2% +$224K
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 Q3 2022 Portfolio in Review

As of Q3 2022, State of Michigan Retirement System held 987 positions worth $13.6B, down 6.7% from $14.6B the previous quarter. Its ten largest holdings account for 34% of the portfolio.

Trading was light in Q3 2022: portfolio turnover was 3.9%. State of Michigan Retirement System opened 17 new positions and exited 21, leaving the 987-position portfolio largely intact.

By sector, the portfolio is most concentrated in Technology at 21% of assets, down from 21% a quarter earlier, followed by Healthcare and Financials.

  • State of Michigan Retirement System's largest Q3 2022 buy was CoStar Group: 107,200 shares worth $7.47M.
  • State of Michigan Retirement System added most to Verizon in Q3 2022, an estimated $154M increase.
  • State of Michigan Retirement System's biggest Q3 2022 reduction was Meta Platforms (Facebook), cutting an estimated $87.6M.
  • State of Michigan Retirement System fully exited Nuvei Corporation Subordinate Voting Shares in Q3 2022, selling an estimated $7.73M.
  • State of Michigan Retirement System's ten largest holdings make up 34% of its $13.6B portfolio in Q3 2022.
  • State of Michigan Retirement System opened 17 new positions and closed 21 in Q3 2022.
  • State of Michigan Retirement System's portfolio value fell 6.7% quarter-over-quarter to $13.6B.

Based on State of Michigan Retirement System's 13F filing for Q3 2022, filed 24 Oct 2022.