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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 43 of 48  ·  941 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
841 ASB ASSOCIATED BANC CORP Financial Services 39,378.0 $1.0M 0.01% +700.0 +1.8% $25.86 +8.5%
842 THO THOR INDS INC Consumer Cyclical 12,718.0 $1.0M 0.01% +300.0 +2.4% $79.89 -6.4%
843 NOVT NOVANTA INC Technology 8,600.0 $1.0M 0.01% +100.0 +1.2% $118.11 +31.1%
844 ALK ALASKA AIR GROUP INC Industrials 27,600.0 $1.0M 0.01% +200.0 +0.7% $36.78 +11.7%
845 MSM MSC INDL DIRECT INC Industrials 10,965.0 $1.0M 0.01% +200.0 +1.9% $92.27 +14.9%
846 TCBI TEXAS CAP BANCSHARES INC Financial Services 10,652.0 $1.0M 0.01% -100.0 -0.9% $94.88 +4.1%
847 FEDERATED HERMES INC 17,776.0 $1.0M 0.01% +300.0 +1.7% $56.71
848 CROX CROCS INC Consumer Cyclical 12,138.0 $1.0M 0.01% -100.0 -0.8% $83.02 +31.2%
849 ANF ABERCROMBIE FITCH CO Consumer Cyclical 11,000.0 $1.0M 0.01% -100.0 -0.9% $91.37 -16.3%
850 POST POST HLDGS INC Consumer Defensive 10,147.0 $1.0M 0.01% -1K -9.8% $98.86 -1.4%
851 NVST ENVISTA HOLDINGS CORPORATION Healthcare 39,463.0 $1.0M 0.01% +600.0 +1.5% $25.37 -6.9%
852 VNO VORNADO RLTY TR Real Estate 38,500.0 $1.0M 0.01% +400.0 +1.1% $25.99 +21.6%
853 NWE NORTHWESTERN ENERGY GROUP IN Utilities 14,828.0 $978K 0.01% +300.0 +2.1% $65.94 +8.9%
854 HLNE HAMILTON LANE INC Financial Services 9,800.0 $974K 0.01% +100.0 +1.0% $99.40 -10.9%
855 OLED UNIVERSAL DISPLAY CORP Technology 10,605.0 $972K 0.01% +200.0 +1.9% $91.66 -0.1%
856 HRB BLOCK H R INC Consumer Cyclical 30,468.0 $967K 0.01% +600.0 +2.0% $31.74 +19.4%
857 BRKR BRUKER CORP Healthcare 26,693.0 $964K 0.01% +500.0 +1.9% $36.12 +24.5%
858 DBX DROPBOX INC Technology 42,000.0 $954K 0.01% +800.0 +1.9% $22.72 +19.9%
859 PBF PBF ENERGY INC Energy 20,000.0 $952K 0.01% +600.0 +3.1% $47.62 -18.0%
860 FLAGSTAR BANK NATIONAL ASSOC 72,095.0 $949K 0.01% +1K +2.0% $13.17
Page 43 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%