STATE OF MICHIGAN RETIREMENT SYSTEM
Benefit planCIK
762152
Location
EAST LANSING, MI
Portfolio Value
Large
$22,593,820,522
Diversification
Diversified
Filing Date
Global Rank
#324
/ 8,818
▼ 1
· as of Jun 2026
Top Industry
Semiconductors
16.7%
Period ended 28 days ago
Filed Oct 27, 2026 · 1d
27 quarters · since Mar 2020
Regulatory profile
From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.
Holder type
Benefit plan
Schedule 13G, Jul 27, 2026
Portfolio style
Measured from the filed 13F common-share book for Jun 30, 2026, the newest measured quarter, never from the firm's own description.
Style
Index-like
Active share 17.4% against the Russell 1000 as of 2026-06-30, across 949 stocks (index-like at 20% or less with 100+ stocks)
Turnover
Low turnover
10.8% over the last four quarters (under 30%)
Horizon
Long horizon
Value-weighted holding period 23.4 quarters (12+), a floor since 78.2% of the book was already held when coverage starts
Closest benchmark: the Russell 1000 as of 2026-06-30, active share 17.4%; sector active share 10.9% against the combined 13F book's sector weights.
Over time 26 measured quarters
How the bands are measured
Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.
Clone Performance
Build a hypothetical price-return history from this filer's public 13F holdings.
View clone backtestPortfolio Concentration
966 tracked positions · as of Sep 30, 2026 · Δ vs Jun 30, 2026Top Position
7.1%
+0.7 pts
Top 5
27.0%
+2.0 pts
Top 10
38.4%
+2.1 pts
HHI
199
Diversified+20
Portfolio Trend
27 quarters · across all stocks
Sector Breakdown
As of Sep 30, 2026| Sector | % Portfolio | Value |
|---|---|---|
| Technology | 38.3% | $8,648,033,709 |
| Financial Services | 10.2% | $2,302,897,845 |
| Communication Services | 9.7% | $2,189,524,717 |
| Healthcare | 8.5% | $1,915,133,630 |
| Industrials | 7.4% | $1,673,276,655 |
| Consumer Cyclical | 7.3% | $1,652,748,357 |
| Unclassified | 7.2% | $1,620,482,934 |
| Consumer Defensive | 4.2% | $957,090,578 |
| Energy | 2.8% | $626,879,896 |
| Real Estate | 1.6% | $354,147,312 |
| Utilities | 1.5% | $345,767,583 |
| Basic Materials | 1.4% | $307,837,306 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased
25 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| CHTR | Charter Communications, Inc. | +481,925 | 1,552,322 | $172,152,509 | |
| AGG | iShares Core U.S. Aggregate Bond ETF | +400,000 | 1,300,000 | $122,902,000 | |
| KR | Kroger Co | +399,581 | 3,329,291 | $195,163,038 | |
| APH | Amphenol Corp | +328,574 | 692,148 | $58,348,076 | |
| ZTS | Zoetis Inc. | +242,066 | 757,095 | $52,867,943 | |
| BRO | Brown & Brown, Inc. | +241,090 | 315,741 | $19,228,626 | |
| CRWD | CrowdStrike Holdings, Inc. | +196,646 | 275,980 | $73,065,705 | |
| MNST | Monster Beverage Corp | +182,416 | 371,132 | $15,446,513 | |
| VMRK | Vivmark Residential | +101,126 | 200,251 | $12,167,250 | |
| COHR | Coherent Corp. | +63,900 | 140,000 | $40,293,400 | |
| ANET | Arista Networks, Inc. | +45,700 | 612,392 | $124,676,887 | |
| INTC | Intel Corp | +38,800 | 1,248,453 | $150,101,504 | |
| VLUE | iShares MSCI USA Value Factor ETF | +37,300 | 255,600 | $50,608,800 | |
| MLI | Mueller Industries Inc | +26,000 | 51,900 | $3,145,659 | |
| ROIV | Roivant Sciences Ltd. | +21,600 | 127,100 | $4,648,047 | |
| SOFI | SoFi Technologies, Inc. | +20,000 | 1,668,658 | $26,231,303 | |
| IONQ | IonQ, Inc. | +18,000 | 35,378 | $1,551,679 | |
| CVX | Chevron Corp | +17,100 | 496,439 | $101,377,808 | |
| MTUM | iShares MSCI USA Momentum Factor ETF | +16,000 | 1,317,990 | $418,250,946 | |
| PR | Permian Resources Corp | +12,400 | 196,500 | $4,150,080 | |
| MOH | Molina Healthcare, Inc. | +12,200 | 236,244 | $44,673,740 | |
| HUBS | Hubspot Inc | +11,700 | 1,200,587 | $246,096,323 | |
| TOST | Toast, Inc. | +10,700 | 303,600 | $8,801,364 | |
| P | Everpure, Inc. | +9,700 | 83,500 | $10,920,130 | |
| HST | Host Hotels & Resorts, Inc. | +9,000 | 172,129 | $3,853,968 | |
| No positions match the current search. | |||||
Trimmed
Positions the filer reduced
25 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| HIMS | Hims & Hers Health, Inc. | −1,138,500 | 1,207,782 | $35,979,825 | |
| EWW | iShares MSCI Mexico ETF | −556,000 | 100,000 | $7,109,000 | |
| IJH | iShares Core S&P Mid-Cap ETF | −240,500 | 954,210 | $68,655,409 | |
| NVDA | Nvidia Corp | −161,500 | 6,982,804 | $1,594,732,777 | |
| ADBE | Adobe Inc. | −148,600 | 1,200,661 | $288,086,600 | |
| SPY | Spdr S&P 500 ETF Trust | −113,629 | 293,523 | $223,849,445 | |
| MSFT | Microsoft Corp | −102,340 | 1,923,862 | $986,748,819 | |
| AAPL | Apple Inc. | −93,900 | 3,736,499 | $1,244,328,896 | |
| TWST | Twist Bioscience Corp | −81,472 | 95,929 | $18,537,319 | |
| XYZ | Block, Inc. | −73,693 | 227,146 | $16,702,045 | |
| BURL | Burlington Stores, Inc. | −70,000 | 14,800 | $3,954,412 | |
| NOW | ServiceNow, Inc. | −69,300 | 312,887 | $41,929,986 | |
| SHOP | Shopify Inc. | −67,900 | 119,634 | $17,741,722 | |
| AMZN | Amazon Com Inc | −67,600 | 2,580,279 | $642,876,512 | |
| CNH | CNH Industrial N.V. | −61,600 | 203,300 | $2,612,405 | |
| BABA | Alibaba Group Holding Ltd | −58,100 | 109,100 | $11,732,614 | |
| T | At&T Inc. | −57,400 | 2,111,413 | $51,518,477 | |
| AMD | Advanced Micro Devices Inc | −53,000 | 737,453 | $451,144,247 | |
| GOOGL | Alphabet Inc. | −47,100 | 1,531,470 | $526,948,197 | |
| BAC | Bank Of America Corp | −37,800 | 1,761,012 | $95,851,883 | |
| EW | Edwards Lifesciences Corp | −37,700 | 215,251 | $18,580,466 | |
| NFLX | Netflix Inc | −32,000 | 1,123,690 | $78,186,350 | |
| META | Meta Platforms, Inc. | −30,050 | 732,004 | $530,834,660 | |
| PLTR | Palantir Technologies Inc. | −29,467 | 918,814 | $171,864,158 | |
| TSM | Taiwan Semiconductor Manufacturing Co Ltd | −28,500 | 89,100 | $40,646,529 | |
| No positions match the current search. | |||||
New Positions
Positions the filer opened this quarter
20 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| SPCX | Space Exploration Technologies Corp | 689,800 | $104,063,228 | |
| BE | Bloom Energy Corp | 74,000 | $20,496,520 | |
| IQLT | iShares MSCI Intl Quality Factor ETF | 302,000 | $14,939,940 | |
| ACWX | iShares MSCI ACWI ex U.S. ETF | 197,500 | $14,934,950 | |
| SNAP | Snap Inc | 2,270,000 | $12,258,000 | |
| FERG | Ferguson Enterprises Inc. | 48,600 | $10,819,332 | |
| RDDT | Reddit, Inc. | 36,700 | $5,227,548 | |
| IBRX | ImmunityBio, Inc. | 500,000 | $4,720,000 | |
| SUI | Sun Communities Inc | 28,600 | $3,168,308 | |
| CORT | Corcept Therapeutics Inc | 22,300 | $2,569,629 | |
| AGNC | AGNC Investment Corp. | 278,100 | $2,522,367 | |
| BTSG | BrightSpring Health Services, Inc. | 39,900 | $2,264,325 | |
| ALSN | Allison Transmission Holdings Inc | 19,400 | $2,197,244 | |
| KRYS | Krystal Biotech, Inc. | 6,200 | $2,061,872 | |
| EAT | Brinker International, Inc | 10,100 | $1,954,653 | |
| SNOW | Snowflake Inc. | 2,900 | $984,724 | |
| CHYM | Chime Financial, Inc. | 21,153 | $563,515 | |
| KVYO | Klaviyo, Inc. | 25,061 | $394,209 | |
| NAUT | Nautilus Biotechnology, Inc. | 100,000 | $142,000 | |
| PSKY | Skydance Corp | 137,012 | $0 | |
| No positions match the current search. | ||||
Sold Out
Positions the filer fully exited
14 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| — | 60,254 | $12,354,480 | ||
| — | 38,311 | $7,228,904 | ||
| — | 37,944 | $2,899,680 | ||
| BLDR | Builders FirstSource, Inc. | 27,500 | $2,460,700 | |
| — | 6,557 | $2,324,653 | ||
| — | 10,500 | $2,193,870 | ||
| TTD | Trade Desk, Inc. | 109,300 | $1,976,144 | |
| TAP | Molson Coors Beverage Co | 41,038 | $1,598,840 | |
| — | 21,895 | $1,570,747 | ||
| SKYD | Skydance Corp | 79,812 | $786,946 | |
| — | 16,601 | $738,246 | ||
| CPRI | Capri Holdings Ltd | 27,865 | $517,453 | |
| GT | Goodyear Tire & Rubber Co | 67,026 | $442,371 | |
| SAM | Boston Beer Co Inc | 1,783 | $315,644 | |
| No positions match the current search. | ||||
966 tracked positions ·
$22,593,820,522 total
· filing declares
966 positions · $22,595,236,086
· as of Sep 30, 2026
All sectors
Basic Materials
Communication Services
Consumer Cyclical
Consumer Defensive
Energy
Financial Services
Healthcare
Industrials
Real Estate
Technology
Utilities
Showing 1–50
of 966 positions by value
· page 1 of 20
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| NVDA |
Nvidia Corp
Technology
|
Reduced | 6,982,804 | $1,594,732,777 | 7.06% | |
| AAPL |
Apple Inc.
Technology
|
Reduced | 3,736,499 | $1,244,328,896 | 5.51% | |
| MSFT |
Microsoft Corp
Technology
|
Reduced | 1,923,862 | $986,748,819 | 4.37% | |
| AMZN |
Amazon Com Inc
Consumer Cyclical
|
Reduced | 2,580,279 | $642,876,512 | 2.85% | |
| AVGO |
Broadcom Inc.
Technology
|
Reduced | 1,617,742 | $568,134,812 | 2.51% | |
| META |
Meta Platforms, Inc.
Communication Services
|
Reduced | 732,004 | $530,834,660 | 2.35% | |
| GOOGL |
Alphabet Inc.
Communication Services
|
Reduced | 1,531,470 | $526,948,197 | 2.33% | |
| GOOG |
Alphabet Inc.
Communication Services
|
Reduced | 1,544,960 | $526,429,670 | 2.33% | |
| AMD |
Advanced Micro Devices Inc
Technology
|
Reduced | 737,453 | $451,144,247 | 2.00% | |
| MTUM |
iShares MSCI USA Momentum Factor ETF
|
Added | 1,317,990 | $418,250,946 | 1.85% | |
| MU |
Micron Technology Inc
Technology
|
Reduced | 369,042 | $393,070,324 | 1.74% | |
| LQD |
iShares iBoxx $ Investment Grade Corporate Bond ETF
|
Held | 3,072,400 | $313,937,832 | 1.39% | |
| ADBE |
Adobe Inc.
Technology
|
Reduced | 1,200,661 | $288,086,600 | 1.28% | |
| TSLA |
Tesla, Inc.
Consumer Cyclical
|
Reduced | 708,057 | $251,225,704 | 1.11% | |
| HUBS |
Hubspot Inc
Technology
|
Added | 1,200,587 | $246,096,323 | 1.09% | |
| LLY |
ELI LILLY & Co
Healthcare
|
Reduced | 211,404 | $244,611,340 | 1.08% | |
| SPY |
Spdr S&P 500 ETF Trust
|
Reduced | 293,523 | $223,849,445 | 0.99% | |
| JPM |
Jpmorgan Chase & Co
Financial Services
|
Reduced | 667,831 | $220,938,529 | 0.98% | |
| KR |
Kroger Co
Consumer Defensive
|
Added | 3,329,291 | $195,163,038 | 0.86% | |
| DUOL |
Duolingo, Inc.
Technology
|
Reduced | 1,299,907 | $185,106,756 | 0.82% | |
| XOM |
ExxonMobil Holdings Corp
Energy
|
Reduced | 1,078,618 | $175,545,079 | 0.78% | |
| CHTR |
Charter Communications, Inc.
Communication Services
|
Added | 1,552,322 | $172,152,509 | 0.76% | |
| PLTR |
Palantir Technologies Inc.
Technology
|
Reduced | 918,814 | $171,864,158 | 0.76% | |
| JNJ |
Johnson & Johnson
Healthcare
|
Reduced | 631,567 | $167,201,047 | 0.74% | |
| V |
Visa Inc.
Financial Services
|
Added | 456,223 | $163,934,610 | 0.73% | |
| BRK-B |
Berkshire Hathaway Inc
Financial Services
|
Reduced | 318,329 | $158,511,925 | 0.70% | |
| INTC |
Intel Corp
Technology
|
Added | 1,248,453 | $150,101,504 | 0.66% | |
| MA |
Mastercard Inc
Financial Services
|
Reduced | 234,181 | $129,143,796 | 0.57% | |
| ANET |
Arista Networks, Inc.
Technology
|
Added | 612,392 | $124,676,887 | 0.55% | |
| AGG |
iShares Core U.S. Aggregate Bond ETF
|
Added | 1,300,000 | $122,902,000 | 0.54% | |
| CSCO |
Cisco Systems, Inc.
Technology
|
Reduced | 1,132,962 | $121,940,700 | 0.54% | |
| WMT |
Walmart Inc.
Consumer Defensive
|
Reduced | 1,148,420 | $119,343,806 | 0.53% | |
| ABBV |
AbbVie Inc.
Healthcare
|
Reduced | 444,008 | $116,148,052 | 0.51% | |
| LRCX |
Lam Research Corp
Technology
|
Reduced | 353,000 | $115,964,030 | 0.51% | |
| AMAT |
Applied Materials Inc
Technology
|
Reduced | 219,351 | $112,171,714 | 0.50% | |
| COST |
Costco Wholesale Corp
Consumer Defensive
|
Reduced | 115,269 | $104,933,981 | 0.46% | |
| SPCX |
Space Exploration Technologies Corp
Industrials
|
NEW | 689,800 | $104,063,228 | 0.46% | |
| CVX |
Chevron Corp
Energy
|
Added | 496,439 | $101,377,808 | 0.45% | |
| VRT |
Vertiv Holdings Co
Industrials
|
Added | 414,740 | $100,080,909 | 0.44% | |
| BAC |
Bank Of America Corp
Financial Services
|
Reduced | 1,761,012 | $95,851,883 | 0.42% | |
| MRK |
Merck & Co., Inc.
Healthcare
|
Reduced | 650,890 | $94,580,825 | 0.42% | |
| CAT |
Caterpillar Inc
Industrials
|
Reduced | 115,472 | $93,623,542 | 0.41% | |
| SECU |
|
Held | 1,900,000 | $92,258,300 | 0.41% | |
| QUAL |
iShares MSCI USA Quality Factor ETF
|
Reduced | 407,149 | $90,484,793 | 0.40% | |
| PANW |
Palo Alto Networks Inc
Technology
|
Reduced | 220,739 | $87,701,812 | 0.39% | |
| PG |
PROCTER & GAMBLE Co
Consumer Defensive
|
Reduced | 602,337 | $87,507,519 | 0.39% | |
| BRK-A |
Berkshire Hathaway Inc
Financial Services
|
Held | 116 | $86,652,580 | 0.38% | |
| KO |
Coca Cola Co
Consumer Defensive
|
Reduced | 1,002,948 | $86,333,763 | 0.38% | |
| UNH |
Unitedhealth Group Inc
Healthcare
|
Reduced | 225,519 | $82,783,514 | 0.37% | |
| KBDC |
Kayne Anderson BDC, Inc.
Financial Services
|
Held | 6,566,762 | $82,478,530 | 0.37% |
Showing the top 50 of 966 positions. Create a free account to see every position, past quarters, search, filters and CSV export.
Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.