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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
Cap. Flow %
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 | |
|---|---|---|---|---|---|---|---|
351
Dover
DOV
$26.4B
| $7.74M | 0.03% |
34,523
-700
| -2% | -$153K |
2013 Q2
52 quarters
|
|
352
Eversource Energy
ES
$25.2B
| $7.72M | 0.03% |
106,833
| – | – |
2013 Q2
52 quarters
|
|
353
Generac Holdings
GNRC
$11.4B
| $7.59M | 0.03% |
25,916
+10,600
| +69% | +$2.65M |
2020 Q1
25 quarters
|
|
354
Halliburton
HAL
$27.9B
| $7.57M | 0.03% |
223,022
-53,900
| -19% | -$2.11M |
2013 Q2
52 quarters
|
|
355
Tapestry
TPR
$23.8B
| $7.57M | 0.03% |
51,699
-1,200
| -2% | -$172K |
2013 Q2
52 quarters
|
|
356
ResMed
RMD
$33.6B
| $7.56M | 0.03% |
38,811
-800
| -2% | -$166K |
2013 Q2
52 quarters
|
|
357
Casey's General Stores
CASY
$25.5B
| $7.55M | 0.03% |
9,500
+579
| +6% | +$466K |
2015 Q2
44 quarters
|
|
358
American Water Works
AWK
$26.8B
| $7.5M | 0.03% |
56,997
+6,000
| +12% | +$771K |
2016 Q1
41 quarters
|
|
359
F5
FFIV
$25B
| $7.48M | 0.03% |
17,988
-900
| -5% | -$320K |
2013 Q2
52 quarters
|
|
360
Ingersoll Rand
IR
$30.2B
| $7.48M | 0.03% |
91,223
-1,800
| -2% | -$139K |
2020 Q1
25 quarters
|
|
361
GE HealthCare
GEHC
$31.4B
| $7.45M | 0.03% |
116,453
-2,600
| -2% | -$171K |
2023 Q1
13 quarters
|
|
362
Live Nation Entertainment
LYV
$39.7B
| $7.42M | 0.03% |
40,511
-700
| -2% | -$115K |
2014 Q2
48 quarters
|
|
363
Regions Financial
RF
$23.4B
| $7.39M | 0.03% |
244,739
-500
| -0.2% | -$14K |
2013 Q2
52 quarters
|
|
364
CenterPoint Energy
CNP
$26.7B
| $7.38M | 0.03% |
167,547
-3,000
| -2% | -$129K |
2013 Q2
52 quarters
|
|
365
Fiserv Inc
FISV
$25.3B
| $7.37M | 0.03% |
150,234
-400
| -0.3% | -$22.4K |
2013 Q2
52 quarters
|
|
366
Cincinnati Financial
CINF
$26.3B
| $7.33M | 0.03% |
39,606
-1,200
| -3% | -$199K |
2013 Q2
52 quarters
|
|
367
DELISTED
AvalonBay Communities
AVB
| $7.23M | 0.03% |
38,311
-600
| -2% | -$108K |
2013 Q2
52 quarters
|
|
368
Cloudflare
NET
$106B
| $7.2M | 0.03% |
+29,354
| New | +$6.42M |
2026 Q2
0 quarters
|
|
369
Xylem
XYL
$24.3B
| $7.2M | 0.03% |
60,875
-2,800
| -4% | -$323K |
2013 Q2
52 quarters
|
|
370
Synchrony
SYF
$24B
| $7.16M | 0.03% |
94,140
-4,400
| -4% | -$323K |
2015 Q4
42 quarters
|
|
371
Carpenter Technology
CRS
$18.7B
| $7.16M | 0.03% |
11,600
-400
| -3% | -$188K |
2024 Q4
6 quarters
|
|
372
Hubbell
HUBB
$24.4B
| $7.06M | 0.03% |
13,500
-400
| -3% | -$202K |
2015 Q4
42 quarters
|
|
373
Fair Isaac
FICO
$16.7B
| $7.05M | 0.03% |
5,900
-300
| -5% | -$336K |
2013 Q2
52 quarters
|
|
374
MKS Inc
MKSI
$14.5B
| $7.05M | 0.03% |
15,840
-300
| -2% | -$93.9K |
2017 Q4
34 quarters
|
|
375
Otis Worldwide
OTIS
$27.2B
| $7.03M | 0.03% |
98,207
-3,300
| -3% | -$246K |
2020 Q2
24 quarters
|
|
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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.