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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
-3.04%
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
$17.3B
AUM Growth
-$1.9B
Cap. Flow
-$1.06B
Cap. Flow %
-6.11%
Top 10 Hldgs %
32.47%
Holding
963
New
12
Increased
395
Reduced
310
Closed
19

Top Buys

Rank Stock Value
1
JPM icon
JPMorgan Chase
JPM
+$35M
2
AVGO icon
Broadcom
AVGO
+$34.7M
3
VRT icon
Vertiv
VRT
+$18.2M
4
XYZ
Block Inc
XYZ
+$17.4M
5
DASH icon
DoorDash
DASH
+$17.3M

Top Sells

Rank Stock Value
1
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$585M
2
CVS icon
CVS Health
CVS
+$190M
3
T icon
AT&T
T
+$153M
4
IJH icon
iShares Core S&P Mid-Cap ETF
IJH
+$43M
5
MSFT icon
Microsoft
MSFT
+$36.3M

Sector Composition

Rank Sector Weight
1 Technology 28.36%
2 Financials 12.46%
3 Healthcare 10.12%
4 Consumer Discretionary 9.98%
5 Communication Services 9.07%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AAPL icon
1
Apple
AAPL
$4.54T
$981M 5.66%
4,415,599
-97,300
-2% -$22.5M
NVDA icon
2
NVIDIA
NVDA
$4.86T
$915M 5.28%
8,445,560
-14,000
-0.2% -$1.77M
MSFT icon
3
Microsoft
MSFT
$3.45T
$848M 4.89%
2,257,867
-89,000
-4% -$36.3M
SPY icon
4
State Street SPDR S&P 500 ETF Trust
SPY
$790B
$654M 3.77%
1,169,540
-995,100
-46% -$585M
AMZN icon
5
Amazon
AMZN
$2.92T
$596M 3.44%
3,131,620
-16,200
-0.5% -$3.52M
META icon
6
Meta Platforms (Facebook)
META
$1.42T
$502M 2.9%
871,214
+14,400
+2% +$9.29M
AVGO icon
7
Broadcom
AVGO
$1.85T
$319M 1.84%
1,904,560
+163,900
+9% +$34.7M
GOOGL icon
8
Alphabet (Google) Class A
GOOGL
$4.36T
$311M 1.79%
2,011,380
-33,500
-2% -$6.08M
MTUM icon
9
iShares MSCI USA Momentum Factor ETF
MTUM
$25B
$262M 1.51%
1,295,090
+4,200
+0.3% +$898K
GOOG icon
10
Alphabet (Google) Class C
GOOG
$4.36T
$242M 1.4%
1,548,160
+33,800
+2% +$6.19M
LQD icon
11
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$34.3B
$236M 1.36%
2,172,400
– –
JPM icon
12
JPMorgan Chase
JPM
$935B
$221M 1.28%
901,531
+137,400
+18% +$35M
LLY icon
13
Eli Lilly
LLY
$1.02T
$218M 1.26%
263,804
-12,100
-4% -$10.1M
V icon
14
Visa
V
$684B
$208M 1.2%
593,923
-1,500
-0.3% -$508K
TSLA icon
15
Tesla
TSLA
$1.23T
$197M 1.13%
759,157
+1,200
+0.2% +$400K
BRK.B icon
16
Berkshire Hathaway Class B
BRK.B
$1.1T
$184M 1.06%
345,329
+100
+0% +$48.6K
COST icon
17
Costco
COST
$422B
$166M 0.96%
175,269
+200
+0.1% +$195K
NFLX icon
18
Netflix
NFLX
$299B
$160M 0.92%
1,712,490
+100,000
+6% +$9.51M
XOM icon
19
ExxonMobil
XOM
$644B
$140M 0.81%
1,180,918
-12,000
-1% -$1.33M
MA icon
20
Mastercard
MA
$506B
$140M 0.81%
255,781
-1,500
-0.6% -$817K
UNH icon
21
UnitedHealth
UNH
$376B
$136M 0.78%
259,719
-200
-0.1% -$102K
JNJ icon
22
Johnson & Johnson
JNJ
$618B
$113M 0.65%
679,067
-300
-0% -$46.9K
PG icon
23
Procter & Gamble
PG
$336B
$112M 0.65%
658,737
-3,000
-0.5% -$502K
HD icon
24
Home Depot
HD
$331B
$110M 0.63%
299,484
-100
-0% -$39K
TDG icon
25
TransDigm Group
TDG
$70.2B
$105M 0.61%
76,192
-100
-0.1% -$133K
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 2025 Portfolio in Review

As of Q1 2025, State of Michigan Retirement System held 963 positions worth $17.3B, down 9.9% from $19.2B the previous quarter. Its ten largest holdings account for 32% of the portfolio.

State of Michigan Retirement System withdrew a net $1.06B in Q1 2025, closing 19 positions and reducing 310 holdings. Its most notable exit was iShares Biotechnology ETF, an estimated $18.1M position sold in full.

By sector, the portfolio is most concentrated in Technology at 28% of assets, down from 30% a quarter earlier, followed by Financials and Healthcare.

Against the trend, State of Michigan Retirement System opened a new position in DoorDash worth $16.8M.

  • State of Michigan Retirement System's largest Q1 2025 buy was DoorDash: 92,000 shares worth $16.8M.
  • State of Michigan Retirement System added most to JPMorgan Chase in Q1 2025, an estimated $35M increase.
  • State of Michigan Retirement System's biggest Q1 2025 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $585M.
  • State of Michigan Retirement System fully exited iShares Biotechnology ETF in Q1 2025, selling an estimated $18.1M.
  • State of Michigan Retirement System's ten largest holdings make up 32% of its $17.3B portfolio in Q1 2025.
  • State of Michigan Retirement System opened 12 new positions and closed 19 in Q1 2025.
  • State of Michigan Retirement System's portfolio value fell 9.9% quarter-over-quarter to $17.3B.

Based on State of Michigan Retirement System's 13F filing for Q1 2025, filed 30 Apr 2025.