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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 | |
|---|---|---|---|---|---|---|---|
126
Danaher
DHR
$163B
| $30.7M | 0.14% |
161,246
-3,100
| -2% | -$563K |
2013 Q2
52 quarters
|
|
127
Trane Technologies
TT
$101B
| $30.6M | 0.14% |
62,213
-400
| -0.6% | -$187K |
2013 Q2
52 quarters
|
|
128
General Motors
GM
$73.4B
| $30.1M | 0.13% |
390,608
+20,600
| +6% | +$1.62M |
2013 Q2
52 quarters
|
|
129
Howmet Aerospace
HWM
$87.6B
| $30.1M | 0.13% |
111,945
+7,200
| +7% | +$1.85M |
2016 Q4
38 quarters
|
|
130
Coherent
COHR
$49.4B
| $30M | 0.13% |
76,100
+27,100
| +55% | +$9.59M |
2018 Q4
30 quarters
|
|
131
Starbucks
SBUX
$110B
| $29.8M | 0.13% |
291,859
-5,800
| -2% | -$584K |
2013 Q2
52 quarters
|
|
132
SoFi Technologies
SOFI
$19.5B
| $29.6M | 0.13% |
1,648,658
+648,658
| +65% | +$11M |
2024 Q1
9 quarters
|
|
133
Lockheed Martin
LMT
$123B
| $29.2M | 0.13% |
57,218
-500
| -0.9% | -$270K |
2013 Q2
52 quarters
|
|
134
Comcast
CMCSA
$77.3B
| $28.9M | 0.13% |
1,175,789
+57,400
| +5% | +$1.48M |
2013 Q2
52 quarters
|
|
135
Quanta Services
PWR
$96.6B
| $28.8M | 0.13% |
39,948
+1,000
| +3% | +$684K |
2013 Q2
52 quarters
|
|
136
Cadence Design Systems
CDNS
$89.3B
| $28.5M | 0.13% |
76,023
| – | – |
2013 Q2
52 quarters
|
|
137
Intercontinental Exchange
ICE
$88.9B
| $28.1M | 0.12% |
228,442
-3,500
| -2% | -$525K |
2013 Q2
52 quarters
|
|
138
Fortinet
FTNT
$133B
| $28M | 0.12% |
182,570
-7,900
| -4% | -$913K |
2014 Q1
49 quarters
|
|
139
Stryker
SYK
$112B
| $27.8M | 0.12% |
88,299
-1,700
| -2% | -$536K |
2013 Q2
52 quarters
|
|
140
Southern Company
SO
$103B
| $27.6M | 0.12% |
288,623
+1,000
| +0.3% | +$94.1K |
2013 Q2
52 quarters
|
|
141
Newmont
NEM
$122B
| $27.5M | 0.12% |
294,445
-20,100
| -6% | -$2.19M |
2013 Q2
52 quarters
|
|
142
PNC Financial Services
PNC
$85.7B
| $27.1M | 0.12% |
110,156
-2,000
| -2% | -$448K |
2013 Q2
52 quarters
|
|
143
Burlington
BURL
$16.8B
| $26.9M | 0.12% |
84,800
-300
| -0.4% | -$96.7K |
2023 Q4
10 quarters
|
|
144
Equinix
EQIX
$98.3B
| $26.3M | 0.12% |
25,217
-500
| -2% | -$535K |
2013 Q2
52 quarters
|
|
145
Automatic Data Processing
ADP
$113B
| $26.1M | 0.12% |
116,703
-200
| -0.2% | -$42.8K |
2013 Q2
52 quarters
|
|
146
US Bancorp
USB
$89.4B
| $25.8M | 0.11% |
427,782
-8,200
| -2% | -$459K |
2013 Q2
52 quarters
|
|
147
Medtronic
MDT
$122B
| $25.7M | 0.11% |
328,698
-6,200
| -2% | -$500K |
2013 Q2
52 quarters
|
|
148
Bank of New York Mellon
BNY
$96.4B
| $25.4M | 0.11% |
175,737
-4,100
| -2% | -$561K |
2013 Q2
52 quarters
|
|
149
Duke Energy
DUK
$92.7B
| $25.3M | 0.11% |
199,636
-3,500
| -2% | -$442K |
2013 Q2
52 quarters
|
|
150
Cummins
CMI
$73.3B
| $25.2M | 0.11% |
35,331
-800
| -2% | -$527K |
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.