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SOMRS

State of Michigan Retirement System Portfolio holdings

AUM $18.9B
1-Year Est. Return 27.96%
This Fund
S&P 500
This Quarter Est. Return
+9.1%
1 Year Est. Return
+27.96%
3 Year Est. Return
+96.72%
5 Year Est. Return
+118.4%
10 Year Est. Return
+412.12%
AUM
$16.2B
AUM Growth
+$993M
Cap. Flow
-$130M
Cap. Flow %
-0.8%
Top 10 Hldgs %
33.54%
Holding
990
New
22
Increased
267
Reduced
593
Closed
21

Top Buys

Rank Stock Value
1
NVDA icon
NVIDIA
NVDA
+$34.8M
2
TLT icon
iShares 20+ Year Treasury Bond ETF
TLT
+$31.1M
3
MBB icon
iShares MBS ETF
MBB
+$29.6M
4
MSFT icon
Microsoft
MSFT
+$28.5M
5
T icon
AT&T
T
+$20.2M

Top Sells

Rank Stock Value
1
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$60.3M
2
GLOB icon
Globant
GLOB
+$33.7M
3
EXAS
Exact Sciences
EXAS
+$31.6M
4
ANET icon
Arista Networks
ANET
+$31.2M
5
QUAL icon
iShares MSCI USA Quality Factor ETF
QUAL
+$27.3M

Sector Composition

Rank Sector Weight
1 Technology 24.5%
2 Financials 11.19%
3 Healthcare 10.98%
4 Communication Services 8.9%
5 Consumer Discretionary 8.6%
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
$771B
$1.55B 9.54%
3,487,340
-143,750
-4% -$60.3M
AAPL icon
2
Apple
AAPL
$4.97T
$897M 5.54%
4,625,825
-56,300
-1% -$9.81M
MSFT icon
3
Microsoft
MSFT
$2.9T
$819M 5.05%
2,404,927
+90,900
+4% +$28.5M
NVDA icon
4
NVIDIA
NVDA
$4.6T
$384M 2.37%
9,067,060
+1,049,000
+13% +$34.8M
AMZN icon
5
Amazon
AMZN
$2.44T
$380M 2.35%
2,917,420
+36,400
+1% +$4.16M
LQD icon
6
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$34.3B
$335M 2.07%
3,097,400
– –
VZ icon
7
Verizon
VZ
$197B
$302M 1.87%
8,125,950
+2,600
+0% +$96.2K
GOOGL icon
8
Alphabet (Google) Class A
GOOGL
$4.12T
$281M 1.73%
2,344,280
-45,100
-2% -$5.19M
MTUM icon
9
iShares MSCI USA Momentum Factor ETF
MTUM
$23.6B
$262M 1.62%
1,816,240
-62,000
-3% -$8.72M
T icon
10
AT&T
T
$164B
$229M 1.41%
14,372,313
+1,185,200
+9% +$20.2M
APO icon
11
Apollo Global Management
APO
$69B
$216M 1.33%
2,806,100
-150,000
-5% -$10M
TSLA icon
12
Tesla
TSLA
$1.18T
$194M 1.2%
740,757
+2,200
+0.3% +$440K
META icon
13
Meta Platforms (Facebook)
META
$1.49T
$190M 1.17%
661,814
-35,400
-5% -$8.74M
GOOG icon
14
Alphabet (Google) Class C
GOOG
$4.11T
$174M 1.07%
1,439,360
-29,100
-2% -$3.37M
UNH icon
15
UnitedHealth
UNH
$382B
$164M 1.01%
340,419
-31,800
-9% -$15.5M
MA icon
16
Mastercard
MA
$498B
$147M 0.91%
374,681
+5,500
+1% +$2.06M
V icon
17
Visa
V
$701B
$141M 0.87%
595,823
-50,900
-8% -$11.6M
AVGO icon
18
Broadcom
AVGO
$1.76T
$131M 0.81%
1,509,660
+72,000
+5% +$5.13M
JNJ icon
19
Johnson & Johnson
JNJ
$640B
$123M 0.76%
743,624
-9,000
-1% -$1.45M
BRK.B icon
20
Berkshire Hathaway Class B
BRK.B
$1.1T
$122M 0.75%
357,749
-5,900
-2% -$1.93M
XOM icon
21
ExxonMobil
XOM
$650B
$119M 0.74%
1,111,674
-19,200
-2% -$2.09M
JPM icon
22
JPMorgan Chase
JPM
$916B
$117M 0.72%
803,531
-2,000
-0.2% -$275K
IJH icon
23
iShares Core S&P Mid-Cap ETF
IJH
$121B
$109M 0.67%
2,075,810
+137,500
+7% +$6.83M
LLY icon
24
Eli Lilly
LLY
$1.08T
$108M 0.67%
229,904
-1,700
-0.7% -$713K
PG icon
25
Procter & Gamble
PG
$340B
$98.3M 0.61%
648,137
+300
+0% +$45.2K
1
2 3 4 5

Similar funds

BPA
Beacon Pointe Advisors Newport Beach, California $18.9B AUM 18.9% 1-Year Est. Return
NAM
Nissay Asset Management Tokyo, Japan $18.9B AUM 27.21% 1-Year Est. Return
JAM
Jupiter Asset Management London, United Kingdom $18.8B AUM 29.2% 1-Year Est. Return
LF
Lansforsakringar Fondforvaltning Stockholm, Sweden $19.1B AUM 26.9% 1-Year Est. Return
A
AustralianSuper Melbourne, Australia $19.2B AUM 31.95% 1-Year Est. Return
BBHC
Brown Brothers Harriman & Co New York $18.6B AUM 15.81% 1-Year Est. Return
CS
Candriam SCA Strassen, Luxembourg, Luxembourg $19.3B AUM 39.18% 1-Year Est. Return
PCM
Pentwater Capital Management Naples, Florida $19.3B AUM 58.13% 1-Year Est. Return

State of Michigan Retirement System's Q2 2023 Portfolio in Review

As of Q2 2023, State of Michigan Retirement System held 990 positions worth $16.2B, up 6.5% from $15.2B the previous quarter. Its ten largest holdings account for 34% of the portfolio.

Trading was light in Q2 2023: portfolio turnover was 4.3%. State of Michigan Retirement System opened 22 new positions and exited 21, leaving the 990-position portfolio largely intact.

By sector, the portfolio is most concentrated in Technology at 25% of assets, up from 23% a quarter earlier, followed by Financials and Healthcare.

  • State of Michigan Retirement System's largest Q2 2023 buy was iShares 20+ Year Treasury Bond ETF: 300,000 shares worth $30.9M.
  • State of Michigan Retirement System added most to NVIDIA in Q2 2023, an estimated $34.8M increase.
  • State of Michigan Retirement System's biggest Q2 2023 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $60.3M.
  • State of Michigan Retirement System fully exited Globant in Q2 2023, selling an estimated $33.7M.
  • State of Michigan Retirement System's ten largest holdings make up 34% of its $16.2B portfolio in Q2 2023.
  • State of Michigan Retirement System opened 22 new positions and closed 21 in Q2 2023.
  • State of Michigan Retirement System's portfolio value rose 6.5% quarter-over-quarter to $16.2B.

Based on State of Michigan Retirement System's 13F filing for Q2 2023, filed 26 Jul 2023.