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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 | |
|---|---|---|---|---|---|---|---|
251
Icon
ICLR
$13.1B
| $14.8M | 0.07% |
85,070
| – | – |
2020 Q4
22 quarters
|
|
252
Targa Resources
TRGP
$63.2B
| $14.7M | 0.07% |
55,000
-1,100
| -2% | -$283K |
2021 Q2
20 quarters
|
|
253
Public Storage
PSA
$55.7B
| $14.7M | 0.07% |
46,221
+2,600
| +6% | +$795K |
2013 Q2
52 quarters
|
|
254
Carrier Global
CARR
$45.3B
| $14.7M | 0.06% |
199,925
-5,300
| -3% | -$346K |
2020 Q2
24 quarters
|
|
255
D.R. Horton
DHI
$39B
| $14.6M | 0.06% |
89,615
-13,084
| -13% | -$1.95M |
2013 Q2
52 quarters
|
|
256
Xcel Energy
XEL
$47.7B
| $14.6M | 0.06% |
181,394
+26,900
| +17% | +$2.15M |
2013 Q2
52 quarters
|
|
257
Corteva
CTVA
$8.59B
| $14.5M | 0.06% |
171,210
-4,500
| -3% | -$361K |
2019 Q2
28 quarters
|
|
258
Cardinal Health
CAH
$58.8B
| $14.3M | 0.06% |
+60,000
| New | +$12.5M |
2026 Q2
0 quarters
|
|
259
Aflac
AFL
$60.1B
| $14.2M | 0.06% |
121,407
-5,100
| -4% | -$587K |
2013 Q2
52 quarters
|
|
260
Ametek
AME
$56.9B
| $14.2M | 0.06% |
58,653
-1,500
| -2% | -$346K |
2013 Q2
52 quarters
|
|
261
Copart
CPRT
$25.8B
| $14.1M | 0.06% |
501,908
+63,000
| +14% | +$2.03M |
2013 Q2
52 quarters
|
|
262
Rockwell Automation
ROK
$47.3B
| $14.1M | 0.06% |
28,513
-800
| -3% | -$348K |
2013 Q2
52 quarters
|
|
263
Baker Hughes
BKR
$55.3B
| $14.1M | 0.06% |
254,012
-4,100
| -2% | -$259K |
2017 Q3
35 quarters
|
|
264
Cencora
COR
$65.1B
| $14.1M | 0.06% |
+49,800
| New | +$14.4M |
2026 Q2
0 quarters
|
|
265
Chipotle Mexican Grill
CMG
$37.8B
| $14.1M | 0.06% |
414,100
-10,800
| -3% | -$353K |
2013 Q2
52 quarters
|
|
266
Oneok
OKE
$58.8B
| $14M | 0.06% |
161,281
-3,100
| -2% | -$273K |
2013 Q2
52 quarters
|
|
267
Nucor
NUE
$58.1B
| $13.8M | 0.06% |
62,110
-3,200
| -5% | -$724K |
2013 Q2
52 quarters
|
|
268
Fifth Third Bancorp
FITB
$45.7B
| $13.8M | 0.06% |
244,816
-1,600
| -0.6% | -$81.1K |
2013 Q2
52 quarters
|
|
269
Entergy
ETR
$50.2B
| $13.5M | 0.06% |
117,204
-1,000
| -0.8% | -$113K |
2013 Q2
52 quarters
|
|
270
AutoZone
AZO
$50.5B
| $13.4M | 0.06% |
4,206
-100
| -2% | -$332K |
2013 Q2
52 quarters
|
|
271
Exelon
EXC
$44.8B
| $13.4M | 0.06% |
286,503
+100
| +0% | +$4.63K |
2013 Q2
52 quarters
|
|
272
Wabtec
WAB
$48.4B
| $13.2M | 0.06% |
49,016
-500
| -1% | -$132K |
2013 Q2
52 quarters
|
|
273
Humana
HUM
$49.6B
| $13.2M | 0.06% |
33,125
-300
| -0.9% | -$85.4K |
2013 Q2
52 quarters
|
|
274
MetLife
MET
$64B
| $13M | 0.06% |
153,156
-3,400
| -2% | -$274K |
2013 Q2
52 quarters
|
|
275
Consolidated Edison
ED
$41.5B
| $12.9M | 0.06% |
116,642
+17,300
| +17% | +$1.88M |
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.