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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 38 of 48  ·  941 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
741 JHG JANUS HENDERSON GROUP PLC Financial Services 29,613.0 $1.5M 0.01% +400.0 +1.4% $51.37 +0.6%
742 VAL VALARIS LTD Energy 15,500.0 $1.5M 0.01% +200.0 +1.3% $98.04 +11.8%
743 ACI ALBERTSONS COS INC Consumer Defensive 89,000.0 $1.5M 0.01% -4K -4.8% $17.04 -4.5%
744 RGEN REPLIGEN CORP Healthcare 12,753.0 $1.5M 0.01% +200.0 +1.6% $117.82 -5.2%
745 PLNT PLANET FITNESS MASTER ISSUER Consumer Cyclical 20,000.0 $1.5M 0.01% +400.0 +2.0% $74.38 -32.5%
746 LEA LEAR CORP Consumer Cyclical 12,255.0 $1.5M 0.01% $121.08 +14.3%
747 FAF FIRST AMERN FINL CORP Financial Services 24,564.0 $1.5M 0.01% +500.0 +2.1% $60.29 +12.5%
748 HXL HEXCEL CORP NEW Industrials 18,297.0 $1.5M 0.01% -500.0 -2.7% $80.93 +4.7%
749 THG HANOVER INS GROUP INC Financial Services 8,532.0 $1.5M 0.01% +100.0 +1.2% $173.35 +12.2%
750 WH WYNDHAM HOTELS RESORTS INC Consumer Cyclical 18,153.0 $1.5M 0.01% +300.0 +1.7% $81.23 -0.4%
751 MIDD MIDDLEBY CORP Industrials 11,120.0 $1.5M 0.01% +200.0 +1.8% $132.58 +9.5%
752 GATX GATX CORP Industrials 8,612.0 $1.5M 0.01% +200.0 +2.4% $170.74 +1.3%
753 LAD LITHIA MTRS INC Consumer Cyclical 5,787.0 $1.4M 0.01% +100.0 +1.8% $249.72 +9.9%
754 STWD STARWOOD PPTY TR INC Real Estate 83,800.0 $1.4M 0.01% +2K +1.8% $17.22 -0.5%
755 FNB F N B CORP Financial Services 85,951.0 $1.4M 0.01% +1K +1.5% $16.72 +4.5%
756 CHDN CHURCHILL DOWNS INC Consumer Cyclical 15,980.0 $1.4M 0.01% +300.0 +1.9% $89.83 -4.8%
757 MSA MSA SAFETY INC Industrials 8,755.0 $1.4M 0.01% +100.0 +1.2% $163.95 +2.8%
758 POR PORTLAND GEN ELEC CO Utilities 27,100.0 $1.4M 0.01% +500.0 +1.9% $52.77 -5.8%
759 GXO GXO LOGISTICS INCORPORATED Industrials 27,527.0 $1.4M 0.01% +500.0 +1.9% $51.85 -9.9%
760 EXP EAGLE MATLS INC Basic Materials 7,529.0 $1.4M 0.01% $189.45 +5.1%
Page 38 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%