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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 | |
|---|---|---|---|---|---|---|---|
801
GXO Logistics
GXO
$5.45B
| $1.37M | 0.01% |
26,927
-600
| -2% | -$31.1K |
2022 Q2
16 quarters
|
|
802
Alaska Air
ALK
$4.1B
| $1.36M | 0.01% |
26,100
-1,500
| -5% | -$64.1K |
2025 Q1
5 quarters
|
|
803
Commault Systems
CVLT
$6.21B
| $1.36M | 0.01% |
9,612
-1,000
| -9% | -$107K |
2013 Q2
52 quarters
|
|
804
Matador Resources
MTDR
$6.89B
| $1.36M | 0.01% |
27,300
-800
| -3% | -$45.5K |
2022 Q2
16 quarters
|
|
805
Selective Insurance
SIGI
$5.29B
| $1.36M | 0.01% |
13,981
-500
| -3% | -$43.2K |
2019 Q3
27 quarters
|
|
806
Kite Realty
KRG
$4.96B
| $1.35M | 0.01% |
47,495
-4,600
| -9% | -$124K |
2021 Q4
18 quarters
|
|
807
Novanta
NOVT
$4.95B
| $1.35M | 0.01% |
8,300
-300
| -3% | -$43.4K |
2022 Q3
15 quarters
|
|
808
Starwood Property Trust
STWD
$4.68B
| $1.33M | 0.01% |
81,500
-2,300
| -3% | -$40K |
2023 Q1
13 quarters
|
|
809
Southwest Gas
SWX
$6.34B
| $1.33M | 0.01% |
15,029
-400
| -3% | -$35.8K |
2016 Q2
40 quarters
|
|
810
StandardAero Inc
SARO
$7.17B
| $1.33M | 0.01% |
44,300
-1,300
| -3% | -$34.2K |
2026 Q1
1 quarter
|
|
811
Black Hills Corp
BKH
$5.86B
| $1.32M | 0.01% |
17,800
-400
| -2% | -$29.5K |
2013 Q2
52 quarters
|
|
812
TXNM Energy Inc
TXNM
$6.46B
| $1.32M | 0.01% |
23,289
-300
| -1% | -$17.6K |
2013 Q2
52 quarters
|
|
813
ESAB
ESAB
$4.05B
| $1.32M | 0.01% |
13,402
-300
| -2% | -$29K |
2022 Q2
16 quarters
|
|
814
New Jersey Resources
NJR
$5.29B
| $1.32M | 0.01% |
23,585
-700
| -3% | -$39.2K |
2016 Q1
41 quarters
|
|
815
Sonoco
SON
$4.99B
| $1.3M | 0.01% |
23,151
-600
| -3% | -$30.8K |
2013 Q2
52 quarters
|
|
816
SiriusXM
SIRI
$9.21B
| $1.3M | 0.01% |
+44,100
| New | +$1.19M |
2026 Q2
0 quarters
|
|
817
VF Corp
VFC
$6.72B
| $1.28M | 0.01% |
76,900
-2,200
| -3% | -$39.3K |
2025 Q1
5 quarters
|
|
818
Brunswick
BC
$4.24B
| $1.28M | 0.01% |
15,170
-500
| -3% | -$40.1K |
2013 Q4
50 quarters
|
|
819
RLI Corp
RLI
$5.56B
| $1.27M | 0.01% |
21,532
-600
| -3% | -$32.2K |
2019 Q4
26 quarters
|
|
820
MSC Industrial Direct
MSM
$7.28B
| $1.27M | 0.01% |
10,665
-300
| -3% | -$31.9K |
2013 Q2
52 quarters
|
|
821
Gentex
GNTX
$4.5B
| $1.26M | 0.01% |
49,840
-2,800
| -5% | -$66.2K |
2013 Q2
52 quarters
|
|
822
Cleveland-Cliffs
CLF
$7.12B
| $1.25M | 0.01% |
133,427
-3,800
| -3% | -$41.8K |
2021 Q1
21 quarters
|
|
823
Home BancShares
HOMB
$5.88B
| $1.25M | 0.01% |
43,830
-200
| -0.5% | -$5.43K |
2017 Q2
36 quarters
|
|
824
Bank OZK
OZK
$5.07B
| $1.25M | 0.01% |
24,012
-1,000
| -4% | -$48.7K |
2018 Q3
31 quarters
|
|
825
AeroVironment
AVAV
$6.17B
| $1.24M | 0.01% |
7,500
-200
| -3% | -$35.8K |
2025 Q3
3 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.