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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 | |
|---|---|---|---|---|---|---|---|
951
CoreWeave
CRWV
$38.4B
| $390K | ﹤0.01% |
+3,914
| New | +$423K |
2026 Q2
0 quarters
|
|
952
Phinia Inc
PHIN
$2.12B
| $347K | ﹤0.01% |
4,218
| – | – |
2025 Q3
3 quarters
|
|
953
Columbia Sportswear
COLM
$3.11B
| $345K | ﹤0.01% |
5,574
-500
| -8% | -$31K |
2019 Q4
26 quarters
|
|
954
Boston Beer
SAM
$1.84B
| $316K | ﹤0.01% |
1,783
-100
| -5% | -$20.3K |
2015 Q1
45 quarters
|
|
955
Millrose Properties Inc
MRP
$3.69B
| $299K | ﹤0.01% |
9,938
| – | – |
2025 Q1
5 quarters
|
|
956
Pilgrim's Pride
PPC
$6.88B
| $280K | ﹤0.01% |
9,971
-300
| -3% | -$9.22K |
2019 Q3
27 quarters
|
|
957
Versant Media Group
VSNT
$4.35B
| $259K | ﹤0.01% |
7,200
| – | – |
2026 Q1
1 quarter
|
|
958
Versigent PLC
VGNT
$3.1B
| $235K | ﹤0.01% |
+5,600
| New | +$223K |
2026 Q2
0 quarters
|
|
959
GRAIL Inc
GRAL
$6.05B
| $208K | ﹤0.01% |
+3,051
| New | +$180K |
2026 Q2
0 quarters
|
|
960
NIO
NIO
$8.77B
| $117K | ﹤0.01% |
+23,201
| New | +$135K |
2026 Q2
0 quarters
|
|
961
Blackbaud
BLKB
$2.33B
| – | – |
-8,648
| Closed | -$334K | – |
|
962
BellRing Brands
BRBR
$1.05B
| – | – |
-28,245
| Closed | -$454K | – |
|
963
Conagra Brands
CAG
$6.77B
| – | – |
-124,915
| Closed | -$1.96M | – |
|
964
Concentrix
CNXC
$1.69B
| – | – |
-10,491
| Closed | -$287K | – |
|
965
Coty
COTY
$2.81B
| – | – |
-88,898
| Closed | -$179K | – |
|
966
Campbell Soup
CPB
$5.92B
| – | – |
-51,401
| Closed | -$1.14M | – |
|
967
DELISTED
Coterra Energy
CTRA
| – | – |
-233,459
| Closed | -$8.2M | – |
|
968
EPAM Systems
EPAM
$6.31B
| – | – |
-14,427
| Closed | -$1.95M | – |
|
969
Flowers Foods
FLO
$1.3B
| – | – |
-50,842
| Closed | -$414K | – |
|
970
DELISTED
Hologic
HOLX
| – | – |
-58,165
| Closed | -$4.4M | – |
|
971
DELISTED
Janus Henderson
JHG
| – | – |
-29,613
| Closed | -$1.52M | – |
|
972
DELISTED
Masimo
MASI
| – | – |
-10,996
| Closed | -$1.96M | – |
|
973
Pool Corp
POOL
$6.15B
| – | – |
-8,513
| Closed | -$1.72M | – |
|
|
974
State Street Health Care Select Sector SPDR ETF
XLV
$45.9B
| – | – |
-404,788
| Closed | -$59.3M | – |
|
975
Oklo
OKLO
$5.58B
| – | – |
-27,500
| Closed | -$1.36M | – |
|
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.