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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 | |
|---|---|---|---|---|---|---|---|
376
Raymond James Financial
RJF
$30.2B
| $7.03M | 0.03% |
46,244
-1,500
| -3% | -$228K |
2013 Q2
52 quarters
|
|
377
PPL Corp
PPL
$26.5B
| $7M | 0.03% |
192,586
-700
| -0.4% | -$25.9K |
2013 Q2
52 quarters
|
|
378
Workday
WDAY
$46B
| $6.98M | 0.03% |
57,000
+1,400
| +3% | +$177K |
2024 Q4
6 quarters
|
|
379
DexCom
DXCM
$32.5B
| $6.96M | 0.03% |
103,400
+2,900
| +3% | +$193K |
2020 Q2
24 quarters
|
|
380
Smurfit Westrock
SW
$21.6B
| $6.92M | 0.03% |
149,564
+2,900
| +2% | +$120K |
2024 Q3
7 quarters
|
|
381
PPG Industries
PPG
$23.9B
| $6.92M | 0.03% |
57,043
-3,600
| -6% | -$401K |
2013 Q2
52 quarters
|
|
382
Texas Pacific Land
TPL
$24.2B
| $6.91M | 0.03% |
15,800
-3,800
| -19% | -$1.54M |
2022 Q4
14 quarters
|
|
383
Hershey
HSY
$34.3B
| $6.83M | 0.03% |
38,934
-700
| -2% | -$132K |
2013 Q2
52 quarters
|
|
384
Veeva Systems
VEEV
$50.3B
| $6.81M | 0.03% |
38,400
+37,000
| +2,643% | +$6.1M |
2022 Q2
16 quarters
|
|
385
Cboe Global Markets
CBOE
$32.9B
| $6.8M | 0.03% |
28,003
-500
| -2% | -$153K |
2013 Q2
52 quarters
|
|
386
Vivmark Residential
VMRK
$47.4B
| $6.73M | 0.03% |
99,125
+4,700
| +5% | +$304K |
2013 Q2
52 quarters
|
|
387
West Pharmaceutical
WST
$27B
| $6.73M | 0.03% |
18,756
-700
| -4% | -$214K |
2015 Q3
43 quarters
|
|
388
Mettler-Toledo International
MTD
$32.5B
| $6.64M | 0.03% |
5,196
-100
| -2% | -$121K |
2013 Q2
52 quarters
|
|
389
Personalis
PSNL
$1.67B
| $6.62M | 0.03% |
493,798
| – | – |
2020 Q4
22 quarters
|
|
390
Lennar Class A
LEN
$18.3B
| $6.59M | 0.03% |
72,815
-1,200
| -2% | -$107K |
2013 Q2
52 quarters
|
|
391
Curtiss-Wright
CW
$18.6B
| $6.56M | 0.03% |
8,661
-200
| -2% | -$147K |
2016 Q1
41 quarters
|
|
392
Willis Towers Watson
WTW
$29.3B
| $6.56M | 0.03% |
25,092
-600
| -2% | -$161K |
2015 Q4
42 quarters
|
|
393
HP
HPQ
$27.1B
| $6.56M | 0.03% |
298,862
-12,700
| -4% | -$281K |
2013 Q2
52 quarters
|
|
394
T. Rowe Price
TROW
$21.5B
| $6.52M | 0.03% |
57,313
-2,400
| -4% | -$245K |
2013 Q2
52 quarters
|
|
395
Dollar General
DG
$29.6B
| $6.49M | 0.03% |
56,354
-1,100
| -2% | -$125K |
2013 Q2
52 quarters
|
|
396
Dollar Tree
DLTR
$23.3B
| $6.47M | 0.03% |
53,469
-500
| -0.9% | -$52K |
2013 Q2
52 quarters
|
|
397
Labcorp
LH
$25.8B
| $6.46M | 0.03% |
23,087
-200
| -0.9% | -$52.6K |
2013 Q2
52 quarters
|
|
398
NVR
NVR
$15.8B
| $6.45M | 0.03% |
946
| – | – |
2013 Q2
52 quarters
|
|
399
Southwest Airlines
LUV
$19.3B
| $6.43M | 0.03% |
125,103
-3,200
| -2% | -$134K |
2013 Q2
52 quarters
|
|
400
Ulta Beauty
ULTA
$25.4B
| $6.43M | 0.03% |
14,253
+100
| +0.7% | +$50.8K |
2016 Q2
40 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.