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State of Michigan Retirement System Portfolio holdings
AUM
$22.6B
Turnover
5.03%
1-Year Est. Return
40.24%
This Fund
S&P 500
This Quarter
Est. Return
+26.19%
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
$22.6B
AUM Growth
+$3.66B
(+19%)
Cap. Flow
+$818M
Cap. Flow
% of AUM
3.62%
Top 10 Holdings %
Top 10 Hldgs %
30.97%
Holding
975
New
34
Increased
149
Reduced
743
Closed
15
Avg Time Held
8.8
years
Top 10 Avg Time Held
4.5
years
Top 20 Avg Time Held
4.8
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
HubSpot
HUBS
|
+$226M |
| 2 |
Adobe
ADBE
|
+$125M |
| 3 |
Charter Communications
CHTR
|
+$107M |
| 4 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$98.8M |
| 5 |
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
|
+$98.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
TransDigm Group
TDG
|
+$75.5M |
| 2 |
State Street Health Care Select Sector SPDR ETF
XLV
|
+$59.3M |
| 3 |
Meta Platforms (Facebook)
META
|
+$53.4M |
| 4 |
Cigna
CI
|
+$42M |
| 5 |
Intel
INTC
|
+$34.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 36.61% |
| 2 | Financials | 10.43% |
| 3 | Communication Services | 9.47% |
| 4 | Healthcare | 8.27% |
| 5 | Consumer Discretionary | 8.06% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
226
DELISTED
Warner Bros
WBD
| $16.9M | 0.07% |
634,541
-12,900
| -2% | -$349K |
2013 Q2
52 quarters
|
|
227
W.W. Grainger
GWW
$62.7B
| $16.9M | 0.07% |
12,417
-200
| -2% | -$246K |
2013 Q2
52 quarters
|
|
228
Air Products & Chemicals
APD
$66B
| $16.7M | 0.07% |
57,021
-1,100
| -2% | -$320K |
2013 Q2
52 quarters
|
|
229
Cintas
CTAS
$84.6B
| $16.5M | 0.07% |
97,172
-200
| -0.2% | -$34.6K |
2013 Q2
52 quarters
|
|
230
Dominion Energy
D
$55.3B
| $16.4M | 0.07% |
240,367
| – | – |
2013 Q2
52 quarters
|
|
231
Old Dominion Freight Line
ODFL
$39.2B
| $16.4M | 0.07% |
75,688
-500
| -0.7% | -$108K |
2013 Q4
50 quarters
|
|
232
KKR & Co
KKR
$78.7B
| $16.2M | 0.07% |
177,000
-2,300
| -1% | -$223K |
2024 Q2
8 quarters
|
|
233
Boston Scientific
BSX
$64B
| $16.2M | 0.07% |
380,608
-6,800
| -2% | -$369K |
2013 Q2
52 quarters
|
|
234
Idexx Laboratories
IDXX
$43.1B
| $16.2M | 0.07% |
30,855
-500
| -2% | -$280K |
2013 Q2
52 quarters
|
|
235
Zoom
ZM
$28.7B
| $16.1M | 0.07% |
187,066
-2,800
| -1% | -$265K |
2020 Q3
23 quarters
|
|
236
Alibaba
BABA
$276B
| $16M | 0.07% |
167,200
-56,700
| -25% | -$7.1M |
2020 Q4
22 quarters
|
|
237
Kinder Morgan
KMI
$73.1B
| $16M | 0.07% |
501,345
-10,100
| -2% | -$326K |
2013 Q2
52 quarters
|
|
238
Regeneron Pharmaceuticals
REGN
$82B
| $16M | 0.07% |
25,621
-700
| -3% | -$476K |
2013 Q2
52 quarters
|
|
239
Realty Income
O
$52.6B
| $15.9M | 0.07% |
257,348
-900
| -0.3% | -$56.1K |
2013 Q2
52 quarters
|
|
240
L3Harris
LHX
$44.8B
| $15.9M | 0.07% |
54,730
-100
| -0.2% | -$31.8K |
2019 Q3
27 quarters
|
|
241
Fastenal
FAST
$57.8B
| $15.8M | 0.07% |
328,356
+800
| +0.2% | +$36.3K |
2013 Q2
52 quarters
|
|
242
Allstate
ALL
$60.6B
| $15.7M | 0.07% |
65,889
-2,000
| -3% | -$435K |
2013 Q2
52 quarters
|
|
243
Sempra
SRE
$53.6B
| $15.5M | 0.07% |
167,420
-3,100
| -2% | -$288K |
2013 Q2
52 quarters
|
|
244
HCA Healthcare
HCA
$101B
| $15.5M | 0.07% |
39,809
-1,100
| -3% | -$465K |
2015 Q1
45 quarters
|
|
245
Keysight
KEYS
$58.2B
| $15.4M | 0.07% |
43,931
-900
| -2% | -$307K |
2014 Q4
46 quarters
|
|
246
HDFC Bank
HDB
$121B
| $15.4M | 0.07% |
595,200
| – | – |
2024 Q2
8 quarters
|
|
247
Airbnb
ABNB
$103B
| $15.3M | 0.07% |
107,000
-3,700
| -3% | -$505K |
2023 Q3
11 quarters
|
|
248
Digital Realty Trust
DLR
$64.7B
| $15.2M | 0.07% |
84,581
+200
| +0.2% | +$38.3K |
2016 Q2
40 quarters
|
|
249
Devon Energy
DVN
$54.2B
| $15.2M | 0.07% |
367,012
+146,021
| +66% | +$6.77M |
2013 Q2
52 quarters
|
|
250
Arthur J. Gallagher & Co
AJG
$64.1B
| $15.1M | 0.07% |
65,787
-1,300
| -2% | -$276K |
2013 Q2
52 quarters
|
|
Similar funds
State of Michigan Retirement System's Q2 2026 Portfolio in Review
As of Q2 2026, State of Michigan Retirement System held 975 positions worth $22.6B, up 19% from $18.9B the previous quarter. Its ten largest holdings account for 31% of the portfolio.
State of Michigan Retirement System deployed $818M of net new capital in Q2 2026, opening 34 new positions and adding to 149 existing holdings. Its largest new stake was iShares Securitized Income Active ETF: 1,900,000 shares worth $94.7M.
By sector, the portfolio is most concentrated in Technology at 37% of assets, up from 32% a quarter earlier, followed by Financials and Communication Services.
On the sell side, the largest reduction was TransDigm Group, an estimated $75.5M trimmed.
- State of Michigan Retirement System's largest Q2 2026 buy was iShares Securitized Income Active ETF: 1,900,000 shares worth $94.7M.
- State of Michigan Retirement System added most to HubSpot in Q2 2026, an estimated $226M increase.
- State of Michigan Retirement System's biggest Q2 2026 reduction was TransDigm Group, cutting an estimated $75.5M.
- State of Michigan Retirement System fully exited State Street Health Care Select Sector SPDR ETF in Q2 2026, selling an estimated $59.3M.
- State of Michigan Retirement System's ten largest holdings make up 31% of its $22.6B portfolio in Q2 2026.
- State of Michigan Retirement System opened 34 new positions and closed 15 in Q2 2026.
- State of Michigan Retirement System's portfolio value rose 19% quarter-over-quarter to $22.6B.
Based on State of Michigan Retirement System's 13F filing for Q2 2026, filed 30 Jul 2026.