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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 | |
|---|---|---|---|---|---|---|---|
176
Ford
F
$49.1B
| $21.1M | 0.09% |
1,519,579
+92,600
| +6% | +$1.25M |
2013 Q2
52 quarters
|
|
177
EOG Resources
EOG
$80.1B
| $21.1M | 0.09% |
162,752
+5,700
| +4% | +$776K |
2013 Q2
52 quarters
|
|
178
Waste Management
WM
$89.6B
| $21.1M | 0.09% |
94,588
-2,300
| -2% | -$512K |
2013 Q2
52 quarters
|
|
179
MSCI
MSCI
$41.8B
| $20.9M | 0.09% |
37,402
-600
| -2% | -$350K |
2013 Q2
52 quarters
|
|
180
Teradyne
TER
$53.7B
| $20.9M | 0.09% |
43,135
+2,200
| +5% | +$830K |
2013 Q2
52 quarters
|
|
181
Marriott International
MAR
$101B
| $20.8M | 0.09% |
56,036
-1,400
| -2% | -$516K |
2013 Q2
52 quarters
|
|
182
Hewlett Packard
HPE
$77.8B
| $20.6M | 0.09% |
456,181
-37,800
| -8% | -$1.37M |
2015 Q4
42 quarters
|
|
183
NXP Semiconductors
NXPI
$58.3B
| $20.6M | 0.09% |
73,168
-3,700
| -5% | -$1.02M |
2026 Q1
1 quarter
|
|
184
Emerson Electric
EMR
$90.4B
| $20.5M | 0.09% |
143,420
-3,400
| -2% | -$479K |
2013 Q2
52 quarters
|
|
185
Illinois Tool Works
ITW
$77.2B
| $20.5M | 0.09% |
75,736
-1,200
| -2% | -$311K |
2013 Q2
52 quarters
|
|
186
Constellation Energy
CEG
$97.4B
| $20.3M | 0.09% |
81,867
+500
| +0.6% | +$141K |
2022 Q2
16 quarters
|
|
187
Royal Caribbean
RCL
$74.9B
| $20.3M | 0.09% |
63,901
-1,800
| -3% | -$503K |
2026 Q1
1 quarter
|
|
188
Simon Property Group
SPG
$65.8B
| $20.2M | 0.09% |
90,349
-9,500
| -10% | -$1.95M |
2013 Q2
52 quarters
|
|
189
Comfort Systems
FIX
$52.1B
| $20M | 0.09% |
10,100
+100
| +1% | +$181K |
2023 Q4
10 quarters
|
|
190
T-Mobile US
TMUS
$168B
| $20M | 0.09% |
119,141
-4,600
| -4% | -$871K |
2019 Q3
27 quarters
|
|
191
Intuit
INTU
$88.2B
| $19.9M | 0.09% |
76,190
+3,500
| +5% | +$1.22M |
2013 Q2
52 quarters
|
|
192
Apollo Global Management
APO
$66.1B
| $19.8M | 0.09% |
167,217
+45,917
| +38% | +$5.77M |
2024 Q4
6 quarters
|
|
193
PACCAR
PCAR
$58.3B
| $19.6M | 0.09% |
162,966
+1,000
| +0.6% | +$118K |
2013 Q2
52 quarters
|
|
194
O'Reilly Automotive
ORLY
$71.6B
| $19.5M | 0.09% |
212,145
-7,800
| -4% | -$712K |
2013 Q2
52 quarters
|
|
195
American Tower
AMT
$84.5B
| $19.5M | 0.09% |
119,284
-3,000
| -2% | -$540K |
2013 Q2
52 quarters
|
|
196
Hilton Worldwide
HLT
$77.2B
| $19.3M | 0.09% |
58,323
-1,600
| -3% | -$526K |
2017 Q2
36 quarters
|
|
197
Marathon Petroleum
MPC
$134B
| $19.1M | 0.08% |
74,710
-2,400
| -3% | -$589K |
2013 Q2
52 quarters
|
|
198
American Electric Power
AEP
$67.7B
| $19.1M | 0.08% |
139,358
-1,900
| -1% | -$250K |
2013 Q2
52 quarters
|
|
199
Ecolab
ECL
$81.5B
| $19M | 0.08% |
68,340
+1,700
| +3% | +$448K |
2013 Q2
52 quarters
|
|
|
200
TransDigm Group
TDG
$62.7B
| $19M | 0.08% |
14,292
-61,500
| -81% | -$75.5M |
2016 Q2
40 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.