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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 13 of 19  ·  374 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
241 G GENPACT LIMITED Technology 38,084.0 $1.4M 0.01% +200.0 +0.5% $37.25 -14.1%
242 VLYPN VALLEY NATL BANCORP Financial Services 115,181.0 $1.4M 0.01% +2K +1.7% $12.28 +110.7%
243 RYN RAYONIER INC Real Estate 68,572.0 $1.4M 0.01% +32K +86.5% $20.62 -1.9%
244 AVAV AEROVIRONMENT INC Industrials 7,700.0 $1.4M 0.01% +200.0 +2.7% $183.05 -10.9%
245 UBSI UNITED BANKSHARES INC WEST V Financial Services 33,613.0 $1.4M 0.01% +500.0 +1.5% $41.42 +4.2%
246 GBCI GLACIER BANCORP INC NEW Financial Services 30,936.0 $1.4M 0.01% +500.0 +1.6% $44.67 +7.0%
247 TXNM ENERGY INC 23,589.0 $1.4M 0.01% +400.0 +1.7% $58.46
248 TMHC TAYLOR MORRISON HOME CORP Consumer Cyclical 23,495.0 $1.4M 0.01% +400.0 +1.7% $58.24 -1.3%
249 CELH CELSIUS HLDGS INC Consumer Defensive 38,500.0 $1.4M 0.01% +700.0 +1.9% $35.48 -16.3%
250 OLLI OLLIES BARGAIN OUTLET HLDGS Consumer Defensive 14,803.0 $1.4M 0.01% +300.0 +2.1% $92.04 -9.7%
251 AAON AAON INC Industrials 16,300.0 $1.3M 0.01% +300.0 +1.9% $82.75 +60.0%
252 VFC V F CORP Consumer Cyclical 79,100.0 $1.3M 0.01% +2K +1.9% $16.99 -4.6%
253 SWX SOUTHWEST GAS HLDGS INC Utilities 15,429.0 $1.3M 0.01% +200.0 +1.3% $86.90 +3.2%
254 NJR NEW JERSEY RES CORP Utilities 24,285.0 $1.3M 0.01% +500.0 +2.1% $54.92 +4.1%
255 MUR MURPHY OIL CORP Energy 32,247.0 $1.3M 0.01% +500.0 +1.6% $41.25 -8.4%
256 ESAB ESAB CORPORATION Industrials 13,702.0 $1.3M 0.01% +200.0 +1.5% $96.66 -5.7%
257 CNX CNX RES CORP Energy 34,302.0 $1.3M 0.01% +2K +7.5% $38.55 -7.8%
258 GAP GAP INC Consumer Cyclical 54,630.0 $1.3M 0.01% +1K +2.0% $24.20 -4.3%
259 FND FLOOR DECOR HLDGS INC Consumer Cyclical 25,900.0 $1.3M 0.01% +400.0 +1.6% $50.80 -4.7%
260 LSTR LANDSTAR SYS INC Industrials 8,170.0 $1.3M 0.01% +100.0 +1.2% $160.31 +19.2%
Page 13 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%