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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
+12.86%
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
$16.8B
AUM Growth
+$1.35B
Cap. Flow
-$404M
Cap. Flow %
-2.4%
Top 10 Hldgs %
34.1%
Holding
982
New
18
Increased
351
Reduced
406
Closed
24

Top Buys

Rank Stock Value
1
ADBE icon
Adobe
ADBE
+$53.6M
2
AGG icon
iShares Core US Aggregate Bond ETF
AGG
+$48.5M
3
UBER icon
Uber
UBER
+$29.6M
4
META icon
Meta Platforms (Facebook)
META
+$22.1M
5
DIS icon
Walt Disney
DIS
+$22M

Top Sells

Rank Stock Value
1
LQD icon
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
+$96.3M
2
APO icon
Apollo Global Management
APO
+$92.6M
3
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$89.3M
4
TDOC icon
Teladoc Health
TDOC
+$55.9M
5
OMF icon
OneMain Financial
OMF
+$39.2M

Sector Composition

Rank Sector Weight
1 Technology 25.35%
2 Financials 11.06%
3 Communication Services 10.3%
4 Healthcare 9.58%
5 Consumer Discretionary 9.02%
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
$1.6B 9.55%
3,376,740
-200,400
-6% -$89.3M
MSFT icon
2
Microsoft
MSFT
$3.39T
$898M 5.34%
2,388,427
-19,400
-0.8% -$6.91M
AAPL icon
3
Apple
AAPL
$4.45T
$854M 5.08%
4,435,625
-67,000
-1% -$12.4M
AMZN icon
4
Amazon
AMZN
$2.91T
$452M 2.69%
2,972,620
+20,700
+0.7% +$2.9M
NVDA icon
5
NVIDIA
NVDA
$4.75T
$448M 2.67%
9,050,060
-36,000
-0.4% -$1.67M
GOOGL icon
6
Alphabet (Google) Class A
GOOGL
$4.28T
$324M 1.93%
2,317,480
-4,100
-0.2% -$551K
VZ icon
7
Verizon
VZ
$194B
$310M 1.84%
8,214,150
+91,700
+1% +$3.24M
T icon
8
AT&T
T
$160B
$309M 1.84%
18,409,013
-65,700
-0.4% -$1.04M
META icon
9
Meta Platforms (Facebook)
META
$1.39T
$291M 1.73%
823,514
+67,900
+9% +$22.1M
LQD icon
10
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$34.2B
$240M 1.43%
2,172,400
-925,000
-30% -$96.3M
MTUM icon
11
iShares MSCI USA Momentum Factor ETF
MTUM
$25.1B
$232M 1.38%
1,476,440
-6,500
-0.4% -$954K
GOOG icon
12
Alphabet (Google) Class C
GOOG
$4.27T
$196M 1.16%
1,387,860
-23,000
-2% -$3.12M
TSLA icon
13
Tesla
TSLA
$1.21T
$188M 1.12%
757,157
+200
+0% +$47.5K
AVGO icon
14
Broadcom
AVGO
$1.83T
$187M 1.11%
1,678,660
+198,000
+13% +$18.7M
UNH icon
15
UnitedHealth
UNH
$381B
$164M 0.98%
312,219
-24,200
-7% -$12.9M
MA icon
16
Mastercard
MA
$503B
$154M 0.92%
362,181
-600
-0.2% -$241K
V icon
17
Visa
V
$678B
$153M 0.91%
588,623
+6,300
+1% +$1.55M
LLY icon
18
Eli Lilly
LLY
$1.02T
$140M 0.83%
239,504
+10,200
+4% +$5.95M
JPM icon
19
JPMorgan Chase
JPM
$939B
$135M 0.8%
791,531
-5,100
-0.6% -$773K
ADBE icon
20
Adobe
ADBE
$97.4B
$134M 0.8%
224,523
+93,000
+71% +$53.6M
BRK.B icon
21
Berkshire Hathaway Class B
BRK.B
$1.1T
$130M 0.77%
364,849
-3,100
-0.8% -$1.09M
AMD icon
22
Advanced Micro Devices
AMD
$796B
$114M 0.68%
770,740
+19,400
+3% +$2.29M
IJH icon
23
iShares Core S&P Mid-Cap ETF
IJH
$121B
$114M 0.68%
2,048,810
+32,000
+2% +$1.62M
XOM icon
24
ExxonMobil
XOM
$638B
$110M 0.65%
1,096,674
-700
-0.1% -$73.6K
APO icon
25
Apollo Global Management
APO
$71B
$109M 0.65%
1,165,658
-1,048,442
-47% -$92.6M
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 2023 Portfolio in Review

As of Q4 2023, State of Michigan Retirement System held 982 positions worth $16.8B, up 8.7% from $15.5B the previous quarter. Its ten largest holdings account for 34% of the portfolio.

Trading was light in Q4 2023: portfolio turnover was 4.3%. State of Michigan Retirement System opened 18 new positions and exited 24, leaving the 982-position portfolio largely intact.

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

  • State of Michigan Retirement System's largest Q4 2023 buy was Uber: 566,117 shares worth $34.9M.
  • State of Michigan Retirement System added most to Adobe in Q4 2023, an estimated $53.6M increase.
  • State of Michigan Retirement System's biggest Q4 2023 reduction was iShares iBoxx $ Investment Grade Corporate Bond ETF, cutting an estimated $96.3M.
  • State of Michigan Retirement System fully exited State Street SPDR S&P Homebuilders ETF in Q4 2023, selling an estimated $28.3M.
  • State of Michigan Retirement System's ten largest holdings make up 34% of its $16.8B portfolio in Q4 2023.
  • State of Michigan Retirement System opened 18 new positions and closed 24 in Q4 2023.
  • State of Michigan Retirement System's portfolio value rose 8.7% quarter-over-quarter to $16.8B.

Based on State of Michigan Retirement System's 13F filing for Q4 2023, filed 23 Jan 2024.