State of Michigan Retirement System’s Under Armour UAA Stock Holding History

State of Michigan Retirement System’s Portfolio UAA Stock Details UAA Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2025 Q4	–	Sell	-45,000	Closed	-$225K	–	960
2025 Q3	$225K	Buy	45,000 +300	+0.7%	+$1.75K	﹤0.01%	943
2025 Q2	$305K	Hold	44,700	–	–	﹤0.01%	940
2025 Q1	$279K	Hold	44,700	–	–	﹤0.01%	941
2024 Q4	$370K	Sell	44,700 -100	-0.2%	-$914	﹤0.01%	945
2024 Q3	$399K	Sell	44,800 -500	-1%	-$3.72K	﹤0.01%	941
2024 Q2	$302K	Hold	45,300	–	–	﹤0.01%	947
2024 Q1	$334K	Hold	45,300	–	–	﹤0.01%	948
2023 Q4	$398K	Buy	45,300 +200	+0.4%	+$1.54K	﹤0.01%	946
2023 Q3	$309K	Sell	45,100 -1,400	-3%	-$10.5K	﹤0.01%	956
2023 Q2	$336K	Sell	46,500 -1,100	-2%	-$8.85K	﹤0.01%	957
2023 Q1	$452K	Hold	47,600	–	–	﹤0.01%	949
2022 Q4	$484K	Hold	47,600	–	–	﹤0.01%	943
2022 Q3	$317K	Sell	47,600 -400	-0.8%	-$3.5K	﹤0.01%	953
2022 Q2	$400K	Buy	48,000 +354	+0.7%	+$4.34K	﹤0.01%	957
2022 Q1	$811K	Buy	47,646 +188	+0.4%	+$3.37K	﹤0.01%	873
2021 Q4	$1.01M	Buy	47,458 +100	+0.2%	+$2.27K	0.01%	850
2021 Q3	$956K	Sell	47,358 -100	-0.2%	-$2.21K	0.01%	854
2021 Q2	$1M	Buy	47,458 +100	+0.2%	+$2.23K	0.01%	837
2021 Q1	$1.05M	Sell	47,358 -100	-0.2%	-$2.09K	0.01%	905
2020 Q4	$815K	Sell	47,458 -700	-1%	-$10.7K	0.01%	905
2020 Q3	$541K	Hold	48,158	–	–	﹤0.01%	914
2020 Q2	$469K	Buy	48,158 +5,002	+12%	+$47.5K	﹤0.01%	905
2020 Q1	$397K	Sell	43,156 -2,400	-5%	-$38.6K	﹤0.01%	849
2019 Q4	$984K	Buy	45,556 +300	+0.7%	+$5.83K	0.01%	804
2019 Q3	$902K	Buy	45,256 +200	+0.4%	+$4.41K	0.01%	794
2019 Q2	$1.14M	Sell	45,056 -9,100	-17%	-$213K	0.01%	732
2019 Q1	$1.15M	Buy	54,156 +400	+0.7%	+$8.38K	0.01%	787
2018 Q4	$950K	Sell	53,756 -1,700	-3%	-$34.9K	0.01%	799
2018 Q3	$1.18M	Buy	55,456 +400	+0.7%	+$8.33K	0.01%	811
2018 Q2	$1.24M	Buy	55,056 +500	+0.9%	+$9.88K	0.01%	787
2018 Q1	$892K	Buy	54,556 +300	+0.6%	+$4.69K	0.01%	851
2017 Q4	$783K	Sell	54,256 -1,900	-3%	-$27.5K	0.01%	881
2017 Q3	$925K	Sell	56,156 -4,500	-7%	-$82.6K	0.01%	853
2017 Q2	$1.32M	Buy	60,656 +300	+0.5%	+$6.11K	0.01%	782
2017 Q1	$1.19M	Buy	60,356 +300	+0.5%	+$6.99K	0.01%	806
2016 Q4	$1.75M	Sell	60,056 -3,544	-6%	-$116K	0.01%	672
2016 Q3	$2.46M	Hold	63,600	–	–	0.02%	552
2016 Q2	$2.55M	Sell	63,600 -61,400	-49%	-$2.45M	0.02%	527
2016 Q1	$5.3M	Sell	125,000 -448,200	-78%	-$17.7M	0.04%	317
2015 Q4	$23.1M	Buy	573,200 +443,800	+343%	+$20.2M	0.18%	106
2015 Q3	$6.26M	Sell	129,400 -1,000	-0.8%	-$47.5K	0.05%	284
2015 Q2	$5.44M	Buy	130,400 +1,600	+1%	+$64.7K	0.04%	346
2015 Q1	$5.2M	Sell	128,800 -8,600	-6%	-$316K	0.04%	370
2014 Q4	$4.67M	Buy	137,400 +1,000	+0.7%	+$33.7K	0.03%	403
2014 Q3	$4.71M	Buy	136,400 +3,600	+3%	+$120K	0.03%	393
2014 Q2	$3.95M	Sell	132,800 -18,800	-12%	-$494K	0.03%	448
2014 Q1	$4.34M	Buy	151,600 +1,200	+0.8%	+$31.4K	0.03%	408
2013 Q4	$3.28M	Buy	150,400 +800	+0.5%	+$16.4K	0.03%	483
2013 Q3	$2.97M	Buy	149,600 +6,400	+4%	+$113K	0.03%	489
2013 Q2	$2.14M	Buy	+143,200	New	+$2.09M	0.02%	566

Other funds holding UAA

FFH

Fairfax Financial Holdings Toronto, Ontario, Canada $1.94B AUM 27.76% 1-Year Est. Return

BlackRock New York $6.73T AUM 46.02% 1-Year Est. Return

Vanguard Group Malvern, Pennsylvania $6.9T AUM 27.45% 1-Year Est. Return

UBS Group Zurich, Switzerland $666B AUM 30.12% 1-Year Est. Return

Dimensional Fund Advisors Austin, Texas $481B AUM 30.42% 1-Year Est. Return

Susquehanna International Group Bala Cynwyd, Pennsylvania $893B AUM 36.07% 1-Year Est. Return

State Street Boston, Massachusetts $3.37T AUM 44.26% 1-Year Est. Return

Charles Schwab San Francisco, California $654B AUM 26.35% 1-Year Est. Return

Jane Street New York $777B AUM 61.18% 1-Year Est. Return

Morgan Stanley New York $1.66T AUM 25.57% 1-Year Est. Return

State of Michigan Retirement System's UAA Position: Q4 2025 in Review

State of Michigan Retirement System sold out of Under Armour (UAA) in Q4 2025, closing a stake of 45,000 shares — an estimated $225K sold.

State of Michigan Retirement System first reported a position in UAA in Q2 2013 and held it in 50 quarters. The position peaked at $23.1M in Q4 2015. 351 funds tracked by Wall St. Rank hold UAA as of Q4 2025.

State of Michigan Retirement System reported no remaining Under Armour position as of Q4 2025 after selling out during the quarter.
State of Michigan Retirement System sold 45,000 Under Armour shares in Q4 2025, an estimated $225K.
State of Michigan Retirement System first reported a position in Under Armour in Q2 2013 and held it in 50 quarters.
State of Michigan Retirement System's Under Armour position peaked at $23.1M in Q4 2015.
351 funds tracked by Wall St. Rank held Under Armour as of Q4 2025.

Based on State of Michigan Retirement System's 13F filing for Q4 2025, filed 29 Jan 2026.