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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
+9.09%
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
$14.4B
AUM Growth
+$740M
Cap. Flow
-$204M
Cap. Flow %
-1.42%
Top 10 Hldgs %
31.67%
Holding
983
New
17
Increased
553
Reduced
277
Closed
16

Top Buys

Rank Stock Value
1
VZ icon
Verizon
VZ
+$37.9M
2
ISRG icon
Intuitive Surgical
ISRG
+$24.2M
3
XLE icon
State Street Energy Select Sector SPDR ETF
XLE
+$21.8M
4
V icon
Visa
V
+$13.9M
5
PAYC icon
Paycom
PAYC
+$8.65M

Top Sells

Rank Stock Value
1
APO icon
Apollo Global Management
APO
+$94.4M
2
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$81.5M
3
MSFT icon
Microsoft
MSFT
+$37.3M
4
META icon
Meta Platforms (Facebook)
META
+$32.9M
5
ACN icon
Accenture
ACN
+$27.7M

Sector Composition

Rank Sector Weight
1 Technology 19.7%
2 Healthcare 12.61%
3 Financials 11.97%
4 Communication Services 9.39%
5 Consumer Discretionary 7.59%
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
$784B
$1.48B 10.34%
3,881,390
-212,100
-5% -$81.5M
AAPL icon
2
Apple
AAPL
$4.9T
$610M 4.25%
4,694,425
-181,000
-4% -$25.9M
MSFT icon
3
Microsoft
MSFT
$3.35T
$569M 3.97%
2,373,027
-155,400
-6% -$37.3M
T icon
4
AT&T
T
$159B
$332M 2.31%
18,016,713
-20,200
-0.1% -$362K
LQD icon
5
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$34.3B
$327M 2.28%
3,097,400
– –
VZ icon
6
Verizon
VZ
$193B
$320M 2.23%
8,111,450
+1,004,800
+14% +$37.9M
MTUM icon
7
iShares MSCI USA Momentum Factor ETF
MTUM
$24.9B
$259M 1.81%
1,776,134
+2,900
+0.2% +$421K
AMZN icon
8
Amazon
AMZN
$2.53T
$239M 1.67%
2,845,020
-106,700
-4% -$10.5M
GOOGL icon
9
Alphabet (Google) Class A
GOOGL
$4.08T
$210M 1.46%
2,377,180
-114,400
-5% -$10.9M
UNH icon
10
UnitedHealth
UNH
$383B
$196M 1.37%
369,519
+11,400
+3% +$6.04M
V icon
11
Visa
V
$684B
$134M 0.93%
644,923
+69,000
+12% +$13.9M
JNJ icon
12
Johnson & Johnson
JNJ
$617B
$132M 0.92%
745,224
-14,600
-2% -$2.52M
GOOG icon
13
Alphabet (Google) Class C
GOOG
$4.08T
$131M 0.92%
1,481,660
-3,300
-0.2% -$315K
MA icon
14
Mastercard
MA
$510B
$128M 0.89%
368,181
+200
+0.1% +$65.8K
APO icon
15
Apollo Global Management
APO
$69.3B
$126M 0.88%
1,981,100
-1,590,000
-45% -$94.4M
XOM icon
16
ExxonMobil
XOM
$651B
$123M 0.86%
1,119,274
-8,700
-0.8% -$932K
HD icon
17
Home Depot
HD
$332B
$123M 0.86%
390,084
+16,900
+5% +$5.15M
NVDA icon
18
NVIDIA
NVDA
$4.72T
$117M 0.82%
8,029,060
-810,000
-9% -$11.9M
BRK.B icon
19
Berkshire Hathaway Class B
BRK.B
$1.1T
$111M 0.77%
358,549
+300
+0.1% +$89.1K
JPM icon
20
JPMorgan Chase
JPM
$933B
$107M 0.74%
797,131
+3,400
+0.4% +$431K
PG icon
21
Procter & Gamble
PG
$335B
$97.6M 0.68%
644,037
-2,700
-0.4% -$379K
PFE icon
22
Pfizer
PFE
$142B
$90M 0.63%
1,755,684
-3,100
-0.2% -$149K
TSLA icon
23
Tesla
TSLA
$1.22T
$89.9M 0.63%
729,457
+8,600
+1% +$1.63M
TMO icon
24
Thermo Fisher Scientific
TMO
$214B
$89.5M 0.62%
162,610
+600
+0.4% +$318K
TDOC icon
25
Teladoc Health
TDOC
$1.2B
$89.5M 0.62%
3,783,000
+43,500
+1% +$1.17M
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 Q4 2022 Portfolio in Review

As of Q4 2022, State of Michigan Retirement System held 983 positions worth $14.4B, up 5.4% from $13.6B the previous quarter. Its ten largest holdings account for 32% of the portfolio.

Trading was light in Q4 2022: portfolio turnover was 3.4%. State of Michigan Retirement System opened 17 new positions and exited 16, leaving the 983-position portfolio largely intact.

By sector, the portfolio is most concentrated in Technology at 20% of assets, down from 21% a quarter earlier, followed by Healthcare and Financials.

  • State of Michigan Retirement System's largest Q4 2022 buy was State Street Energy Select Sector SPDR ETF: 500,000 shares worth $21.9M.
  • State of Michigan Retirement System added most to Verizon in Q4 2022, an estimated $37.9M increase.
  • State of Michigan Retirement System's biggest Q4 2022 reduction was Apollo Global Management, cutting an estimated $94.4M.
  • State of Michigan Retirement System fully exited Twitter, Inc. in Q4 2022, selling an estimated $11.9M.
  • State of Michigan Retirement System's ten largest holdings make up 32% of its $14.4B portfolio in Q4 2022.
  • State of Michigan Retirement System opened 17 new positions and closed 16 in Q4 2022.
  • State of Michigan Retirement System's portfolio value rose 5.4% quarter-over-quarter to $14.4B.

Based on State of Michigan Retirement System's 13F filing for Q4 2022, filed 27 Jan 2023.