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Portfolio (Quarterly) Guide ↗

STATE OF MICHIGAN RETIREMENT SYSTEM

· CIK 0000762152
13F Portfolio $18.9B AUM 941 positions Filed May 4, 2026 EDGAR ↗ ← All Funds
Q1 2026 Q4 2025 · All 23 New 374 Added 194 Reduced 17 Exited
Page 1 of 48  ·  941 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
1 NVDA NVIDIA CORPORATION Technology 7,244,460.0 $1.26B 6.67% -816K -10.1% $174.40 +25.9%
2 AAPL APPLE INC Technology 3,900,499.0 $989.9M 5.23% -283K -6.8% $253.79 +20.2%
3 MSFT MICROSOFT CORP Technology 2,057,867.0 $761.8M 4.02% -176K -7.9% $370.17 +13.2%
4 AMZN AMAZON COM INC Consumer Cyclical 2,703,120.0 $563.0M 2.97% -300K -10.0% $208.27 +28.9%
5 AVGO BROADCOM INC Technology 1,689,060.0 $522.8M 2.76% -158K -8.5% $309.51 +33.9%
6 META META PLATFORMS INC Communication Services 849,414.0 $486.0M 2.57% $572.13 +6.2%
7 GOOGL ALPHABET INC Communication Services 1,596,380.0 $459.1M 2.42% -329K -17.1% $287.56 +34.8%
8 GOOG ALPHABET INC Communication Services 1,573,260.0 $451.3M 2.38% $286.86 +33.7%
9 MTUM ISHARES TR 1,340,090.0 $321.6M 1.70% +53K +4.1% $239.99 +25.9%
10 TSLA TESLA INC Consumer Cyclical 734,657.0 $273.1M 1.44% $371.75 +12.2%
11 LQD ISHARES TR 2,172,400.0 $236.8M 1.25% $108.99 -0.8%
12 JPM JPMORGAN CHASE CO Financial Services 704,331.0 $207.2M 1.09% -208K -22.8% $294.16 +3.0%
13 ADBE ADOBE INC Technology 820,823.0 $199.5M 1.05% +698K +566.1% $243.08 +0.4%
14 LLY ELI LILLY CO Healthcare 215,804.0 $198.5M 1.05% -41K -15.9% $919.77 +13.3%
15 XOM EXXON MOBIL CORP Energy 1,091,718.0 $185.2M 0.98% -12K -1.1% $169.66 -7.9%
16 SPY STATE STR SPDR S P 500 ETF T Financial Services 270,940.0 $176.2M 0.93% -609K -69.2% $650.34 +14.2%
17 KR KROGER CO Consumer Defensive 2,285,087.0 $165.3M 0.87% +892K +64.1% $72.36 -7.3%
18 BERKSHIRE HATHAWAY INC DEL 339,629.0 $162.8M 0.86% $479.20
19 JNJ JOHNSON JOHNSON Healthcare 653,167.0 $159.7M 0.84% $244.44 -5.2%
20 WMT WALMART INC Consumer Defensive 1,171,520.0 $145.6M 0.77% $124.28 +5.3%
Page 1 of 48  ·  941 positions

Period Price is the implied market price on the last day of the reporting period, calculated as reported value ÷ shares held. It is not the fund's purchase price or cost basis — the fund may have initiated or added to the position at any point during the quarter at a different price. Since Period shows the price change from that quarter-end snapshot to today's last price — it reflects stock movement after the report date, not the fund's actual return.

Sector Allocation
Technology 33.7%
Financial Services 12.1%
Communication Services 11.1%
Consumer Cyclical 9.5%
Healthcare 9.2%
Industrials 9.0%
Consumer Defensive 5.5%
Energy 3.7%
Utilities 2.6%
Real Estate 2.0%