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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 12 of 19  ·  374 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
221 ENS ENERSYS Industrials 8,872.0 $1.5M 0.01% +100.0 +1.1% $173.72 +37.5%
222 TKR TIMKEN CO Industrials 15,223.0 $1.5M 0.01% +200.0 +1.3% $100.57 +16.5%
223 JHG JANUS HENDERSON GROUP PLC Financial Services 29,613.0 $1.5M 0.01% +400.0 +1.4% $51.37 +0.6%
224 VAL VALARIS LTD Energy 15,500.0 $1.5M 0.01% +200.0 +1.3% $98.04 +11.8%
225 RGEN REPLIGEN CORP Healthcare 12,753.0 $1.5M 0.01% +200.0 +1.6% $117.82 -5.2%
226 PLNT PLANET FITNESS MASTER ISSUER Consumer Cyclical 20,000.0 $1.5M 0.01% +400.0 +2.0% $74.38 -32.5%
227 FAF FIRST AMERN FINL CORP Financial Services 24,564.0 $1.5M 0.01% +500.0 +2.1% $60.29 +12.5%
228 THG HANOVER INS GROUP INC Financial Services 8,532.0 $1.5M 0.01% +100.0 +1.2% $173.35 +12.2%
229 WH WYNDHAM HOTELS RESORTS INC Consumer Cyclical 18,153.0 $1.5M 0.01% +300.0 +1.7% $81.23 -0.4%
230 MIDD MIDDLEBY CORP Industrials 11,120.0 $1.5M 0.01% +200.0 +1.8% $132.58 +9.5%
231 GATX GATX CORP Industrials 8,612.0 $1.5M 0.01% +200.0 +2.4% $170.74 +1.3%
232 LAD LITHIA MTRS INC Consumer Cyclical 5,787.0 $1.4M 0.01% +100.0 +1.8% $249.72 +9.9%
233 STWD STARWOOD PPTY TR INC Real Estate 83,800.0 $1.4M 0.01% +2K +1.8% $17.22 -0.5%
234 FNB F N B CORP Financial Services 85,951.0 $1.4M 0.01% +1K +1.5% $16.72 +4.5%
235 CHDN CHURCHILL DOWNS INC Consumer Cyclical 15,980.0 $1.4M 0.01% +300.0 +1.9% $89.83 -4.8%
236 MSA MSA SAFETY INC Industrials 8,755.0 $1.4M 0.01% +100.0 +1.2% $163.95 +2.8%
237 POR PORTLAND GEN ELEC CO Utilities 27,100.0 $1.4M 0.01% +500.0 +1.9% $52.77 -5.8%
238 GXO GXO LOGISTICS INCORPORATED Industrials 27,527.0 $1.4M 0.01% +500.0 +1.9% $51.85 -9.9%
239 HR HEALTHCARE RLTY TR Real Estate 83,953.0 $1.4M 0.01% +900.0 +1.1% $16.99 +19.8%
240 AXTA AXALTA COATING SYS LTD Basic Materials 51,400.0 $1.4M 0.01% +1K +2.0% $27.70 +5.2%
Page 12 of 19  ·  374 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%