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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
-2.89%
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
$15.5B
AUM Growth
-$744M
Cap. Flow
-$126M
Cap. Flow %
-0.82%
Top 10 Hldgs %
33.75%
Holding
989
New
20
Increased
99
Reduced
774
Closed
25

Top Buys

Rank Stock Value
1
T icon
AT&T
T
+$60.1M
2
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$39.9M
3
META icon
Meta Platforms (Facebook)
META
+$28.3M
4
XLE icon
State Street Energy Select Sector SPDR ETF
XLE
+$28M
5
GLOB icon
Globant
GLOB
+$25.9M

Top Sells

Rank Stock Value
1
APO icon
Apollo Global Management
APO
+$49.8M
2
MTUM icon
iShares MSCI USA Momentum Factor ETF
MTUM
+$48.1M
3
FTNT icon
Fortinet
FTNT
+$38.4M
4
HSY icon
Hershey
HSY
+$32.4M
5
AAPL icon
Apple
AAPL
+$22.6M

Sector Composition

Rank Sector Weight
1 Technology 23.73%
2 Financials 11.52%
3 Healthcare 10.89%
4 Communication Services 9.71%
5 Consumer Discretionary 8.48%
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
$783B
$1.53B 9.89%
3,577,140
+89,800
+3% +$39.9M
AAPL icon
2
Apple
AAPL
$4.43T
$771M 4.99%
4,502,625
-123,200
-3% -$22.6M
MSFT icon
3
Microsoft
MSFT
$3.4T
$760M 4.92%
2,407,827
+2,900
+0.1% +$958K
NVDA icon
4
NVIDIA
NVDA
$4.74T
$395M 2.56%
9,086,060
+19,000
+0.2% +$851K
AMZN icon
5
Amazon
AMZN
$2.88T
$375M 2.43%
2,951,920
+34,500
+1% +$4.62M
LQD icon
6
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$34.2B
$316M 2.04%
3,097,400
– –
GOOGL icon
7
Alphabet (Google) Class A
GOOGL
$4.26T
$304M 1.97%
2,321,580
-22,700
-1% -$2.94M
T icon
8
AT&T
T
$160B
$277M 1.8%
18,474,713
+4,102,400
+29% +$60.1M
VZ icon
9
Verizon
VZ
$194B
$263M 1.7%
8,122,450
-3,500
-0% -$118K
META icon
10
Meta Platforms (Facebook)
META
$1.38T
$227M 1.47%
755,614
+93,800
+14% +$28.3M
MTUM icon
11
iShares MSCI USA Momentum Factor ETF
MTUM
$25B
$207M 1.34%
1,482,940
-333,300
-18% -$48.1M
APO icon
12
Apollo Global Management
APO
$71B
$199M 1.29%
2,214,100
-592,000
-21% -$49.8M
TSLA icon
13
Tesla
TSLA
$1.21T
$189M 1.23%
756,957
+16,200
+2% +$4.16M
GOOG icon
14
Alphabet (Google) Class C
GOOG
$4.26T
$186M 1.2%
1,410,860
-28,500
-2% -$3.71M
UNH icon
15
UnitedHealth
UNH
$382B
$170M 1.1%
336,419
-4,000
-1% -$1.97M
MA icon
16
Mastercard
MA
$503B
$144M 0.93%
362,781
-11,900
-3% -$4.78M
V icon
17
Visa
V
$678B
$134M 0.87%
582,323
-13,500
-2% -$3.25M
XOM icon
18
ExxonMobil
XOM
$638B
$129M 0.83%
1,097,374
-14,300
-1% -$1.57M
BRK.B icon
19
Berkshire Hathaway Class B
BRK.B
$1.1T
$129M 0.83%
367,949
+10,200
+3% +$3.62M
LLY icon
20
Eli Lilly
LLY
$1.02T
$123M 0.8%
229,304
-600
-0.3% -$309K
AVGO icon
21
Broadcom
AVGO
$1.83T
$123M 0.8%
1,480,660
-29,000
-2% -$2.51M
JPM icon
22
JPMorgan Chase
JPM
$939B
$116M 0.75%
796,631
-6,900
-0.9% -$1.03M
JNJ icon
23
Johnson & Johnson
JNJ
$622B
$106M 0.69%
681,667
-61,957
-8% -$10.2M
IJH icon
24
iShares Core S&P Mid-Cap ETF
IJH
$121B
$101M 0.65%
2,016,810
-59,000
-3% -$3.09M
HD icon
25
Home Depot
HD
$330B
$94.5M 0.61%
312,584
-2,900
-0.9% -$933K
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 2023 Portfolio in Review

As of Q3 2023, State of Michigan Retirement System held 989 positions worth $15.5B, down 4.6% from $16.2B the previous quarter. Its ten largest holdings account for 34% of the portfolio.

Trading was light in Q3 2023: portfolio turnover was 4.6%. State of Michigan Retirement System opened 20 new positions and exited 25, leaving the 989-position portfolio largely intact.

By sector, the portfolio is most concentrated in Technology at 24% of assets, down from 25% a quarter earlier, followed by Financials and Healthcare.

  • State of Michigan Retirement System's largest Q3 2023 buy was Globant: 138,200 shares worth $27.3M.
  • State of Michigan Retirement System added most to AT&T in Q3 2023, an estimated $60.1M increase.
  • State of Michigan Retirement System's biggest Q3 2023 reduction was Apollo Global Management, cutting an estimated $49.8M.
  • State of Michigan Retirement System fully exited Life Storage, Inc. in Q3 2023, selling an estimated $2.78M.
  • State of Michigan Retirement System's ten largest holdings make up 34% of its $15.5B portfolio in Q3 2023.
  • State of Michigan Retirement System opened 20 new positions and closed 25 in Q3 2023.
  • State of Michigan Retirement System's portfolio value fell 4.6% quarter-over-quarter to $15.5B.

Based on State of Michigan Retirement System's 13F filing for Q3 2023, filed 27 Oct 2023.