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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 | |
|---|---|---|---|---|---|---|---|
701
NNN REIT
NNN
$7.97B
| $2.07M | 0.01% |
44,484
-1,200
| -3% | -$53.6K |
2013 Q2
52 quarters
|
|
702
Range Resources
RRC
$10.1B
| $2.05M | 0.01% |
55,086
-1,900
| -3% | -$77.2K |
2022 Q1
17 quarters
|
|
703
Darling Ingredients
DAR
$9.7B
| $2.03M | 0.01% |
37,174
-900
| -2% | -$53.7K |
2020 Q1
25 quarters
|
|
704
Universal Health Services
UHS
$10.9B
| $2.03M | 0.01% |
13,640
-2,734
| -17% | -$444K |
2013 Q2
52 quarters
|
|
705
Allegro MicroSystems
ALGM
$5.89B
| $2.02M | 0.01% |
29,000
-900
| -3% | -$42.1K |
2022 Q4
14 quarters
|
|
706
Aaon
AAON
$6.08B
| $2.02M | 0.01% |
15,900
-400
| -2% | -$46.8K |
2024 Q2
8 quarters
|
|
707
DocuSign
DOCU
$14B
| $2.02M | 0.01% |
45,400
-2,800
| -6% | -$131K |
2024 Q4
6 quarters
|
|
708
Simpson Manufacturing
SSD
$7.23B
| $2.02M | 0.01% |
9,627
-300
| -3% | -$56.1K |
2020 Q4
22 quarters
|
|
709
EnerSys
ENS
$6.08B
| $2M | 0.01% |
8,572
-300
| -3% | -$65.1K |
2016 Q3
39 quarters
|
|
710
Fox Class B
FOX
$24.1B
| $1.99M | 0.01% |
42,431
| – | – |
2019 Q1
29 quarters
|
|
711
Trade Desk
TTD
$5.78B
| $1.98M | 0.01% |
109,300
-5,700
| -5% | -$121K |
2025 Q3
3 quarters
|
|
712
Western Alliance Bancorporation
WAL
$8.13B
| $1.96M | 0.01% |
23,900
-800
| -3% | -$63.2K |
2024 Q3
7 quarters
|
|
713
Idacorp
IDA
$8B
| $1.95M | 0.01% |
12,920
-100
| -0.8% | -$14.4K |
2013 Q2
52 quarters
|
|
714
FirstCash
FCFS
$9.34B
| $1.95M | 0.01% |
9,015
-300
| -3% | -$65.2K |
2022 Q2
16 quarters
|
|
715
Terex
TEX
$5.83B
| $1.93M | 0.01% |
26,718
-600
| -2% | -$37.5K |
2013 Q2
52 quarters
|
|
716
Manhattan Associates
MANH
$13B
| $1.93M | 0.01% |
13,831
-600
| -4% | -$82.7K |
2015 Q2
44 quarters
|
|
717
Viper Energy
VNOM
$8.75B
| $1.92M | 0.01% |
45,400
+700
| +2% | +$32.3K |
2024 Q3
7 quarters
|
|
718
Voya Financial
VOYA
$8.52B
| $1.92M | 0.01% |
21,216
-1,400
| -6% | -$114K |
2021 Q4
18 quarters
|
|
719
Jefferies Financial Group
JEF
$10.3B
| $1.91M | 0.01% |
38,216
-1,600
| -4% | -$82.5K |
2013 Q2
52 quarters
|
|
720
First Industrial Realty Trust
FR
$7.79B
| $1.9M | 0.01% |
30,968
-900
| -3% | -$55.7K |
2016 Q1
41 quarters
|
|
721
Corebridge Financial
CRBG
$15.3B
| $1.88M | 0.01% |
65,600
-3,200
| -5% | -$86.5K |
2025 Q4
2 quarters
|
|
722
SEI Investments
SEIC
$12.5B
| $1.88M | 0.01% |
21,388
-1,000
| -4% | -$87.2K |
2013 Q2
52 quarters
|
|
723
Autoliv
ALV
$8.35B
| $1.87M | 0.01% |
16,100
-400
| -2% | -$47.5K |
2023 Q1
13 quarters
|
|
724
AptarGroup
ATR
$7.92B
| $1.87M | 0.01% |
14,910
-600
| -4% | -$72.8K |
2013 Q2
52 quarters
|
|
725
Hyatt Hotels
H
$15.9B
| $1.86M | 0.01% |
9,600
-300
| -3% | -$52.5K |
2023 Q4
10 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.