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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 2 of 48  ·  941 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
21 V VISA INC Financial Services 465,623.0 $140.7M 0.74% -88K -15.8% $302.24 +9.4%
22 PLTR PALANTIR TECHNOLOGIES INC Technology 876,700.0 $128.2M 0.68% $146.28 -6.2%
23 AMD ADVANCED MICRO DEVICES INC Technology 617,700.0 $125.7M 0.66% -225K -26.7% $203.43 +121.0%
24 MU MICRON TECHNOLOGY INC Technology 367,342.0 $124.1M 0.66% $337.84 +125.6%
25 MA MASTERCARD INCORPORATED Financial Services 239,681.0 $119.8M 0.63% -2K -0.8% $499.66 -0.0%
26 COST COSTCO WHOLESALE CORPORATION Consumer Defensive 119,669.0 $119.2M 0.63% -50K -29.5% $996.43 +5.4%
27 DUOL DUOLINGO INC Technology 1,193,307.0 $117.6M 0.62% +633K +112.9% $98.57 +7.2%
28 NFLX NETFLIX INC Communication Services 1,163,190.0 $111.8M 0.59% -436K -27.3% $96.15 -7.1%
29 CVX CHEVRON CORPORATION Energy 489,639.0 $101.3M 0.54% -6K -1.2% $206.90 -7.7%
30 ABBV ABBVIE INC Healthcare 461,708.0 $100.4M 0.53% $217.49 -1.3%
31 VRT VERTIV HOLDINGS CO Industrials 395,600.0 $99.1M 0.52% +156K +65.3% $250.58 +26.0%
32 CSCO CISCO SYS INC Technology 1,223,362.0 $94.9M 0.50% $77.59 +52.3%
33 CHTR CHARTER COMMUNICATIONS INC Communication Services 431,582.0 $93.2M 0.49% +405K +1547.5% $215.88 -31.0%
34 CAT CATERPILLAR INC Industrials 129,572.0 $91.8M 0.48% -900.0 -0.7% $708.46 +22.2%
35 PG PROCTER GAMBLE CO Consumer Defensive 625,037.0 $90.3M 0.48% -5K -0.7% $144.44 -1.4%
36 KBDC KAYNE ANDERSON BDC INC Financial Services 6,566,762.0 $90.1M 0.48% $13.72 +6.8%
37 BAC BANK AMERICA CORP Financial Services 1,848,012.0 $90.1M 0.48% -26K -1.4% $48.75 +5.6%
38 TDG TRANSDIGM GROUP INC Industrials 75,792.0 $87.8M 0.46% $1158.96 +3.4%
39 AMAT APPLIED MATLS INC Technology 255,055.0 $87.2M 0.46% $341.79 +25.0%
40 MRK MERCK CO INC Healthcare 723,090.0 $87.0M 0.46% $120.29 -3.7%
Page 2 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%