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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
+14.11%
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
$18.6B
AUM Growth
+$1.79B
Cap. Flow
+$12.3M
Cap. Flow %
0.07%
Top 10 Hldgs %
34.69%
Holding
974
New
16
Increased
601
Reduced
158
Closed
19

Top Buys

Rank Stock Value
1
NEE icon
NextEra Energy
NEE
+$132M
2
MBB icon
iShares MBS ETF
MBB
+$94.8M
3
BMY icon
Bristol-Myers Squibb
BMY
+$66.2M
4
SMCI icon
Super Micro Computer
SMCI
+$40.2M
5
MSFT icon
Microsoft
MSFT
+$40.2M

Top Sells

Rank Stock Value
1
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$117M
2
AGG icon
iShares Core US Aggregate Bond ETF
AGG
+$97M
3
PANW icon
Palo Alto Networks
PANW
+$66.1M
4
APO icon
Apollo Global Management
APO
+$52.8M
5
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$32.1M

Sector Composition

Rank Sector Weight
1 Technology 26.33%
2 Financials 10.76%
3 Communication Services 10.57%
4 Healthcare 9.84%
5 Consumer Discretionary 8.58%
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
$1.64B 8.83%
3,141,840
-234,900
-7% -$117M
MSFT icon
2
Microsoft
MSFT
$3.45T
$1.05B 5.63%
2,487,727
+99,300
+4% +$40.2M
NVDA icon
3
NVIDIA
NVDA
$4.86T
$818M 4.4%
9,055,060
+5,000
+0.1% +$362K
AAPL icon
4
Apple
AAPL
$4.54T
$739M 3.97%
4,310,125
-125,500
-3% -$22.8M
AMZN icon
5
Amazon
AMZN
$2.92T
$539M 2.9%
2,987,420
+14,800
+0.5% +$2.47M
META icon
6
Meta Platforms (Facebook)
META
$1.42T
$419M 2.25%
863,614
+40,100
+5% +$17.9M
VZ icon
7
Verizon
VZ
$195B
$345M 1.85%
8,215,050
+900
+0% +$36.3K
T icon
8
AT&T
T
$159B
$324M 1.74%
18,410,513
+1,500
+0% +$25.6K
GOOGL icon
9
Alphabet (Google) Class A
GOOGL
$4.36T
$316M 1.7%
2,093,380
-224,100
-10% -$32.1M
MTUM icon
10
iShares MSCI USA Momentum Factor ETF
MTUM
$25B
$263M 1.41%
1,401,240
-75,200
-5% -$13.1M
LQD icon
11
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$34.3B
$237M 1.27%
2,172,400
– –
AVGO icon
12
Broadcom
AVGO
$1.85T
$231M 1.24%
1,744,660
+66,000
+4% +$8.18M
LLY icon
13
Eli Lilly
LLY
$1.02T
$210M 1.13%
269,704
+30,200
+13% +$21.5M
GOOG icon
14
Alphabet (Google) Class C
GOOG
$4.36T
$210M 1.13%
1,376,060
-11,800
-0.9% -$1.7M
NEE icon
15
NextEra Energy
NEE
$181B
$180M 0.97%
2,812,198
+2,250,500
+401% +$132M
AMD icon
16
Advanced Micro Devices
AMD
$776B
$165M 0.89%
913,140
+142,400
+18% +$24.9M
V icon
17
Visa
V
$684B
$163M 0.88%
585,523
-3,100
-0.5% -$856K
JPM icon
18
JPMorgan Chase
JPM
$935B
$159M 0.85%
792,131
+600
+0.1% +$108K
MA icon
19
Mastercard
MA
$506B
$157M 0.84%
325,981
-36,200
-10% -$16.5M
BRK.B icon
20
Berkshire Hathaway Class B
BRK.B
$1.1T
$155M 0.83%
368,649
+3,800
+1% +$1.49M
MBB icon
21
iShares MBS ETF
MBB
$38.9B
$145M 0.78%
1,565,800
+1,025,000
+190% +$94.8M
TSLA icon
22
Tesla
TSLA
$1.23T
$133M 0.72%
759,157
+2,000
+0.3% +$391K
UNH icon
23
UnitedHealth
UNH
$376B
$130M 0.7%
262,419
-49,800
-16% -$25.3M
XOM icon
24
ExxonMobil
XOM
$644B
$126M 0.68%
1,088,074
-8,600
-0.8% -$900K
IJH icon
25
iShares Core S&P Mid-Cap ETF
IJH
$122B
$119M 0.64%
1,955,110
-93,700
-5% -$5.3M
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 2024 Portfolio in Review

As of Q1 2024, State of Michigan Retirement System held 974 positions worth $18.6B, up 11% from $16.8B the previous quarter. Its ten largest holdings account for 35% of the portfolio.

Trading was light in Q1 2024: portfolio turnover was 3.6%. State of Michigan Retirement System opened 16 new positions and exited 19, leaving the 974-position portfolio largely intact.

By sector, the portfolio is most concentrated in Technology at 26% of assets, up from 25% a quarter earlier, followed by Financials and Communication Services.

  • State of Michigan Retirement System's largest Q1 2024 buy was Arm: 228,200 shares worth $28.5M.
  • State of Michigan Retirement System added most to NextEra Energy in Q1 2024, an estimated $132M increase.
  • State of Michigan Retirement System's biggest Q1 2024 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $117M.
  • State of Michigan Retirement System fully exited iShares Core US Aggregate Bond ETF in Q1 2024, selling an estimated $97M.
  • State of Michigan Retirement System's ten largest holdings make up 35% of its $18.6B portfolio in Q1 2024.
  • State of Michigan Retirement System opened 16 new positions and closed 19 in Q1 2024.
  • State of Michigan Retirement System's portfolio value rose 11% quarter-over-quarter to $18.6B.

Based on State of Michigan Retirement System's 13F filing for Q1 2024, filed 18 Apr 2024.