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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 | |
|---|---|---|---|---|---|---|---|
901
AppFolio
APPF
$7.74B
| $898K | ﹤0.01% |
5,600
-300
| -5% | -$47.9K |
2024 Q1
9 quarters
|
|
902
PBF Energy
PBF
$10.3B
| $892K | ﹤0.01% |
19,600
-400
| -2% | -$16.6K |
2022 Q4
14 quarters
|
|
903
Universal Display
OLED
$3.6B
| $884K | ﹤0.01% |
10,205
-400
| -4% | -$36.9K |
2018 Q4
30 quarters
|
|
904
Grand Canyon Education
LOPE
$4.21B
| $881K | ﹤0.01% |
6,159
-500
| -8% | -$79.4K |
2019 Q4
26 quarters
|
|
905
Yeti Holdings
YETI
$3.07B
| $880K | ﹤0.01% |
17,747
-1,000
| -5% | -$43.4K |
2021 Q1
21 quarters
|
|
906
Polaris
PII
$3.04B
| $868K | ﹤0.01% |
12,679
-200
| -2% | -$12.9K |
2013 Q2
52 quarters
|
|
907
News Corp Class B
NWS
$17.8B
| $866K | ﹤0.01% |
30,845
-1,100
| -3% | -$32.7K |
2015 Q3
43 quarters
|
|
908
Brighthouse Financial
BHF
$2.8B
| $846K | ﹤0.01% |
13,368
-400
| -3% | -$24.9K |
2017 Q3
35 quarters
|
|
909
Post Holdings
POST
$3.51B
| $825K | ﹤0.01% |
9,347
-800
| -8% | -$77.9K |
2013 Q2
52 quarters
|
|
910
Haemonetics
HAE
$5.52B
| $816K | ﹤0.01% |
10,874
-300
| -3% | -$19.3K |
2018 Q2
32 quarters
|
|
911
Morningstar
MORN
$7.85B
| $811K | ﹤0.01% |
5,200
-300
| -5% | -$52.1K |
2023 Q3
11 quarters
|
|
912
PVH
PVH
$3.94B
| $802K | ﹤0.01% |
10,800
-200
| -2% | -$17.1K |
2013 Q2
52 quarters
|
|
913
Avient
AVNT
$3.58B
| $792K | ﹤0.01% |
21,424
-600
| -3% | -$21.7K |
2020 Q3
23 quarters
|
|
914
Skydance Corporation
SKYD
$36.6B
| $787K | ﹤0.01% |
79,812
-1,400
| -2% | -$14.7K |
2025 Q3
3 quarters
|
|
915
Option Care Health
OPCH
$4.68B
| $771K | ﹤0.01% |
36,759
-1,400
| -4% | -$32.6K |
2021 Q3
19 quarters
|
|
916
Penske Automotive Group
PAG
$13.9B
| $769K | ﹤0.01% |
4,300
-100
| -2% | -$16.7K |
2023 Q3
11 quarters
|
|
917
Hamilton Lane
HLNE
$4.61B
| $757K | ﹤0.01% |
9,600
-200
| -2% | -$17.8K |
2024 Q3
7 quarters
|
|
918
BILL Holdings
BILL
$4B
| $749K | ﹤0.01% |
20,700
-500
| -2% | -$18.4K |
2024 Q4
6 quarters
|
|
919
Dolby
DLB
$5.7B
| $741K | ﹤0.01% |
14,100
-600
| -4% | -$34.4K |
2023 Q3
11 quarters
|
|
920
DELISTED
National Storage Affiliates Trust
NSA
| $738K | ﹤0.01% |
16,601
-400
| -2% | -$17.1K |
2021 Q2
20 quarters
|
|
921
Hilton Grand Vacations
HGV
$2.8B
| $733K | ﹤0.01% |
14,000
-400
| -3% | -$19.3K |
2023 Q1
13 quarters
|
|
922
Graphic Packaging
GPK
$2.58B
| $731K | ﹤0.01% |
69,200
-1,800
| -3% | -$18.4K |
2023 Q2
12 quarters
|
|
923
D-Wave Quantum Inc
QBTS
$4.86B
| $730K | ﹤0.01% |
+30,426
| New | +$667K |
2026 Q2
0 quarters
|
|
924
ScottsMiracle-Gro
SMG
$3.16B
| $715K | ﹤0.01% |
10,500
-300
| -3% | -$18.6K |
2013 Q2
52 quarters
|
|
925
Ashland
ASH
$3.28B
| $708K | ﹤0.01% |
10,739
-300
| -3% | -$17.4K |
2013 Q2
52 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.