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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
+15.14%
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
$19.3B
AUM Growth
+$1.98B
Cap. Flow
-$3.03M
Cap. Flow %
-0.02%
Top 10 Hldgs %
35.68%
Holding
951
New
7
Increased
468
Reduced
323
Closed
7

Top Buys

Rank Stock Value
1
BIIB icon
Biogen
BIIB
+$31.3M
2
HIMS icon
Hims & Hers Health
HIMS
+$28.6M
3
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$26.1M
4
VZ icon
Verizon
VZ
+$20.6M
5
COF icon
Capital One
COF
+$13.5M

Top Sells

Rank Stock Value
1
RITM icon
Rithm Capital
RITM
+$66.9M
2
NEE icon
NextEra Energy
NEE
+$59.1M
3
XYZ
Block Inc
XYZ
+$36.9M
4
MTUM icon
iShares MSCI USA Momentum Factor ETF
MTUM
+$19.4M
5
DFS
Discover Financial Services
DFS
+$11.6M

Sector Composition

Rank Sector Weight
1 Technology 31.42%
2 Financials 12%
3 Consumer Discretionary 9.92%
4 Communication Services 9.88%
5 Healthcare 8.87%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NVDA icon
1
NVIDIA
NVDA
$4.72T
$1.33B 6.9%
8,440,160
-5,400
-0.1% -$680K
MSFT icon
2
Microsoft
MSFT
$3.35T
$1.12B 5.82%
2,258,967
+1,100
+0% +$478K
AAPL icon
3
Apple
AAPL
$4.9T
$899M 4.66%
4,383,099
-32,500
-0.7% -$6.56M
SPY icon
4
State Street SPDR S&P 500 ETF Trust
SPY
$784B
$751M 3.89%
1,215,240
+45,700
+4% +$26.1M
AMZN icon
5
Amazon
AMZN
$2.53T
$689M 3.57%
3,142,020
+10,400
+0.3% +$2.06M
META icon
6
Meta Platforms (Facebook)
META
$1.37T
$638M 3.31%
864,814
-6,400
-0.7% -$3.95M
AVGO icon
7
Broadcom
AVGO
$1.85T
$527M 2.73%
1,911,560
+7,000
+0.4% +$1.52M
GOOGL icon
8
Alphabet (Google) Class A
GOOGL
$4.08T
$354M 1.84%
2,011,280
-100
-0% -$16.4K
MTUM icon
9
iShares MSCI USA Momentum Factor ETF
MTUM
$24.9B
$290M 1.5%
1,206,090
-89,000
-7% -$19.4M
GOOG icon
10
Alphabet (Google) Class C
GOOG
$4.08T
$285M 1.48%
1,608,660
+60,500
+4% +$10M
JPM icon
11
JPMorgan Chase
JPM
$933B
$268M 1.39%
925,631
+24,100
+3% +$6.15M
TSLA icon
12
Tesla
TSLA
$1.22T
$242M 1.25%
761,957
+2,800
+0.4% +$844K
LQD icon
13
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$34.3B
$238M 1.23%
2,172,400
– –
NFLX icon
14
Netflix
NFLX
$305B
$229M 1.19%
1,712,490
– –
V icon
15
Visa
V
$673B
$213M 1.1%
600,023
+6,100
+1% +$2.13M
LLY icon
16
Eli Lilly
LLY
$1.03T
$207M 1.07%
265,504
+1,700
+0.6% +$1.32M
COST icon
17
Costco
COST
$423B
$174M 0.9%
175,569
+300
+0.2% +$298K
BRK.B icon
18
Berkshire Hathaway Class B
BRK.B
$1.1T
$168M 0.87%
346,529
+1,200
+0.3% +$609K
MA icon
19
Mastercard
MA
$510B
$142M 0.73%
252,081
-3,700
-1% -$2.05M
PLTR icon
20
Palantir
PLTR
$293B
$128M 0.66%
938,400
+12,300
+1% +$1.44M
XOM icon
21
ExxonMobil
XOM
$651B
$126M 0.65%
1,171,918
-9,000
-0.8% -$962K
AMD icon
22
Advanced Micro Devices
AMD
$791B
$122M 0.63%
857,600
+54,560
+7% +$5.94M
HD icon
23
Home Depot
HD
$332B
$121M 0.63%
330,284
+30,800
+10% +$11.1M
TDG icon
24
TransDigm Group
TDG
$69.9B
$116M 0.6%
76,292
+100
+0.1% +$140K
WMT icon
25
Walmart Inc
WMT
$884B
$115M 0.59%
1,174,820
-2,000
-0.2% -$191K
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 Q2 2025 Portfolio in Review

As of Q2 2025, State of Michigan Retirement System held 951 positions worth $19.3B, up 11% from $17.3B the previous quarter. Its ten largest holdings account for 36% of the portfolio.

Trading was light in Q2 2025: portfolio turnover was 1.5%. State of Michigan Retirement System opened 7 new positions and exited 7, leaving the 951-position portfolio largely intact.

By sector, the portfolio is most concentrated in Technology at 31% of assets, up from 28% a quarter earlier, followed by Financials and Consumer Discretionary.

  • State of Michigan Retirement System's largest Q2 2025 buy was Coinbase: 57,500 shares worth $20.2M.
  • State of Michigan Retirement System added most to Biogen in Q2 2025, an estimated $31.3M increase.
  • State of Michigan Retirement System's biggest Q2 2025 reduction was Rithm Capital, cutting an estimated $66.9M.
  • State of Michigan Retirement System fully exited Discover Financial Services in Q2 2025, selling an estimated $11.6M.
  • State of Michigan Retirement System's ten largest holdings make up 36% of its $19.3B portfolio in Q2 2025.
  • State of Michigan Retirement System opened 7 new positions and closed 7 in Q2 2025.
  • State of Michigan Retirement System's portfolio value rose 11% quarter-over-quarter to $19.3B.

Based on State of Michigan Retirement System's 13F filing for Q2 2025, filed 5 Aug 2025.