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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 | |
|---|---|---|---|---|---|---|---|
751
Avnet
AVT
$7.4B
| $1.71M | 0.01% |
19,205
-500
| -3% | -$40.9K |
2013 Q2
52 quarters
|
|
752
Houlihan Lokey
HLI
$9.05B
| $1.7M | 0.01% |
12,700
-400
| -3% | -$59K |
2023 Q4
10 quarters
|
|
753
Grayscale Bitcoin Trust
GBTC
$12.2B
| $1.7M | 0.01% |
+37,418
| New | +$2.09M |
2026 Q2
0 quarters
|
|
754
STAG Industrial
STAG
$6.91B
| $1.7M | 0.01% |
44,700
-1,300
| -3% | -$49.7K |
2023 Q2
12 quarters
|
|
755
InterDigital
IDCC
$8.24B
| $1.7M | 0.01% |
6,000
-200
| -3% | -$59.5K |
2026 Q1
1 quarter
|
|
756
Kinsale Capital Group
KNSL
$8.32B
| $1.7M | 0.01% |
5,145
-200
| -4% | -$64.3K |
2020 Q4
22 quarters
|
|
757
Lantheus
LNTH
$6.51B
| $1.69M | 0.01% |
15,200
-800
| -5% | -$74.5K |
2022 Q4
14 quarters
|
|
758
Repligen
RGEN
$11.1B
| $1.69M | 0.01% |
12,353
-400
| -3% | -$49.1K |
2019 Q3
27 quarters
|
|
759
AGCO
AGCO
$7.26B
| $1.68M | 0.01% |
14,058
-400
| -3% | -$46.5K |
2013 Q2
52 quarters
|
|
760
Silicon Laboratories
SLAB
$7.37B
| $1.68M | 0.01% |
7,697
-200
| -3% | -$43.3K |
2013 Q2
52 quarters
|
|
761
Middleby
MIDD
$4.87B
| $1.67M | 0.01% |
9,720
-1,400
| -13% | -$211K |
2020 Q2
24 quarters
|
|
762
Eagle Materials
EXP
$5.22B
| $1.65M | 0.01% |
7,329
-200
| -3% | -$41.8K |
2013 Q2
52 quarters
|
|
763
Landstar System
LSTR
$5.83B
| $1.65M | 0.01% |
7,970
-200
| -2% | -$38.2K |
2013 Q2
52 quarters
|
|
764
Erie Indemnity
ERIE
$12.7B
| $1.64M | 0.01% |
6,832
-100
| -1% | -$22.9K |
2023 Q3
11 quarters
|
|
765
First American
FAF
$6.63B
| $1.64M | 0.01% |
23,864
-700
| -3% | -$46.7K |
2013 Q2
52 quarters
|
|
766
Healthcare Realty
HR
$5.99B
| $1.63M | 0.01% |
81,053
-2,900
| -3% | -$56.3K |
2022 Q3
15 quarters
|
|
767
Valley National Bancorp
VLY
$7B
| $1.63M | 0.01% |
111,481
-3,700
| -3% | -$50.3K |
2013 Q2
52 quarters
|
|
768
Commercial Metals
CMC
$7.19B
| $1.63M | 0.01% |
25,937
-800
| -3% | -$56.3K |
2013 Q2
52 quarters
|
|
769
Sensata Technologies
ST
$5.91B
| $1.62M | 0.01% |
34,000
-1,100
| -3% | -$49.8K |
2022 Q4
14 quarters
|
|
770
Molson Coors Class B
TAP
$7.37B
| $1.6M | 0.01% |
41,038
-3,200
| -7% | -$134K |
2013 Q2
52 quarters
|
|
771
FNB Corp
FNB
$6.13B
| $1.59M | 0.01% |
83,251
-2,700
| -3% | -$48.1K |
2016 Q1
41 quarters
|
|
772
Avantor
AVTR
$11.1B
| $1.58M | 0.01% |
159,700
-4,400
| -3% | -$37.9K |
2024 Q3
7 quarters
|
|
773
Lear
LEA
$5.92B
| $1.58M | 0.01% |
11,755
-500
| -4% | -$67K |
2019 Q4
26 quarters
|
|
774
DELISTED
Taylor Morrison
TMHC
| $1.57M | 0.01% |
21,895
-1,600
| -7% | -$102K |
2020 Q1
25 quarters
|
|
775
Ormat Technologies
ORA
$5.49B
| $1.57M | 0.01% |
14,400
-200
| -1% | -$24.8K |
2022 Q3
15 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.