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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
+9.66%
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
$15.2B
AUM Growth
+$859M
Cap. Flow
-$148M
Cap. Flow %
-0.97%
Top 10 Hldgs %
31.98%
Holding
987
New
20
Increased
448
Reduced
393
Closed
19

Top Buys

Rank Stock Value
1
APO icon
Apollo Global Management
APO
+$65.3M
2
CRWD icon
CrowdStrike
CRWD
+$20.8M
3
HXL icon
Hexcel
HXL
+$17.1M
4
ZM icon
Zoom
ZM
+$14.4M
5
MTUM icon
iShares MSCI USA Momentum Factor ETF
MTUM
+$14.4M

Top Sells

Rank Stock Value
1
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$99.9M
2
T icon
AT&T
T
+$92.3M
3
WBD icon
Warner Bros
WBD
+$71.2M
4
EPAM icon
EPAM Systems
EPAM
+$39.8M
5
MSCI icon
MSCI
MSCI
+$19.5M

Sector Composition

Rank Sector Weight
1 Technology 22.58%
2 Healthcare 11.64%
3 Financials 11.47%
4 Communication Services 9.03%
5 Consumer Discretionary 8.25%
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
$1.49B 9.77%
3,631,090
-250,300
-6% -$99.9M
AAPL icon
2
Apple
AAPL
$4.54T
$772M 5.08%
4,682,125
-12,300
-0.3% -$1.81M
MSFT icon
3
Microsoft
MSFT
$3.45T
$667M 4.39%
2,314,027
-59,000
-2% -$15M
LQD icon
4
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$34.3B
$340M 2.23%
3,097,400
– –
VZ icon
5
Verizon
VZ
$195B
$316M 2.08%
8,123,350
+11,900
+0.1% +$469K
AMZN icon
6
Amazon
AMZN
$2.92T
$298M 1.96%
2,881,020
+36,000
+1% +$3.48M
MTUM icon
7
iShares MSCI USA Momentum Factor ETF
MTUM
$25B
$261M 1.72%
1,878,240
+102,106
+6% +$14.4M
T icon
8
AT&T
T
$159B
$254M 1.67%
13,187,113
-4,829,600
-27% -$92.3M
GOOGL icon
9
Alphabet (Google) Class A
GOOGL
$4.36T
$248M 1.63%
2,389,380
+12,200
+0.5% +$1.17M
NVDA icon
10
NVIDIA
NVDA
$4.86T
$223M 1.46%
8,018,060
-11,000
-0.1% -$238K
APO icon
11
Apollo Global Management
APO
$72.4B
$187M 1.23%
2,956,100
+975,000
+49% +$65.3M
UNH icon
12
UnitedHealth
UNH
$376B
$176M 1.16%
372,219
+2,700
+0.7% +$1.3M
TSLA icon
13
Tesla
TSLA
$1.23T
$153M 1.01%
738,557
+9,100
+1% +$1.59M
GOOG icon
14
Alphabet (Google) Class C
GOOG
$4.36T
$153M 1%
1,468,460
-13,200
-0.9% -$1.27M
META icon
15
Meta Platforms (Facebook)
META
$1.42T
$148M 0.97%
697,214
+100
+0% +$17K
V icon
16
Visa
V
$684B
$146M 0.96%
646,723
+1,800
+0.3% +$401K
MA icon
17
Mastercard
MA
$502B
$134M 0.88%
369,181
+1,000
+0.3% +$363K
XOM icon
18
ExxonMobil
XOM
$644B
$124M 0.82%
1,130,874
+11,600
+1% +$1.28M
JNJ icon
19
Johnson & Johnson
JNJ
$618B
$117M 0.77%
752,624
+7,400
+1% +$1.19M
BRK.B icon
20
Berkshire Hathaway Class B
BRK.B
$1.1T
$112M 0.74%
363,649
+5,100
+1% +$1.57M
HD icon
21
Home Depot
HD
$331B
$111M 0.73%
376,784
-13,300
-3% -$4.08M
JPM icon
22
JPMorgan Chase
JPM
$935B
$105M 0.69%
805,531
+8,400
+1% +$1.15M
TDOC icon
23
Teladoc Health
TDOC
$1.22B
$99.3M 0.65%
3,833,000
+50,000
+1% +$1.34M
IJH icon
24
iShares Core S&P Mid-Cap ETF
IJH
$122B
$97M 0.64%
1,938,310
+184,500
+11% +$9.4M
PG icon
25
Procter & Gamble
PG
$336B
$96.3M 0.63%
647,837
+3,800
+0.6% +$543K
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 2023 Portfolio in Review

As of Q1 2023, State of Michigan Retirement System held 987 positions worth $15.2B, up 6% from $14.4B the previous quarter. Its ten largest holdings account for 32% of the portfolio.

Trading was light in Q1 2023: portfolio turnover was 4%. State of Michigan Retirement System opened 20 new positions and exited 19, leaving the 987-position portfolio largely intact.

By sector, the portfolio is most concentrated in Technology at 23% of assets, up from 20% a quarter earlier, followed by Healthcare and Financials.

  • State of Michigan Retirement System's largest Q1 2023 buy was CrowdStrike: 720,800 shares worth $24.7M.
  • State of Michigan Retirement System added most to Apollo Global Management in Q1 2023, an estimated $65.3M increase.
  • State of Michigan Retirement System's biggest Q1 2023 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $99.9M.
  • State of Michigan Retirement System fully exited SVB Financial Group in Q1 2023, selling an estimated $3.94M.
  • State of Michigan Retirement System's ten largest holdings make up 32% of its $15.2B portfolio in Q1 2023.
  • State of Michigan Retirement System opened 20 new positions and closed 19 in Q1 2023.
  • State of Michigan Retirement System's portfolio value rose 6% quarter-over-quarter to $15.2B.

Based on State of Michigan Retirement System's 13F filing for Q1 2023, filed 28 Apr 2023.