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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 5 of 48  ·  941 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
81 CRM SALESFORCE INC Technology 244,743.0 $45.7M 0.24% -4K -1.8% $186.67 -5.5%
82 GILD GILEAD SCIENCES INC Healthcare 324,095.0 $45.2M 0.24% $139.37 -6.4%
83 TSM TAIWAN SEMICONDUCTOR MANUFAC Technology 132,200.0 $44.7M 0.24% -16K -10.8% $337.95 +18.8%
84 QCOM QUALCOMM INC Technology 333,766.0 $43.0M 0.23% $128.78 +57.3%
85 AXP AMERICAN EXPRESS CO Financial Services 139,877.0 $42.3M 0.22% -800.0 -0.6% $302.48 +2.4%
86 COP CONOCOPHILLIPS Energy 320,028.0 $42.2M 0.22% -4K -1.1% $132.00 -8.7%
87 SCHW SCHWAB CHARLES CORP Financial Services 436,366.0 $41.0M 0.22% $93.98 -4.1%
88 BA BOEING CO Industrials 205,196.0 $40.8M 0.22% $199.03 +10.3%
89 ADI ANALOG DEVICES INC Technology 127,655.0 $40.6M 0.21% -1K -0.8% $318.14 +20.8%
90 VLUE ISHARES TR 279,800.0 $39.8M 0.21% -168K -37.5% $142.19 +30.1%
91 UBER UBER TECHNOLOGIES INC Technology 537,600.0 $38.7M 0.20% -6K -1.2% $71.93 +3.7%
92 BLK BLACKROCK INC Financial Services 39,171.0 $37.7M 0.20% $961.71 +10.6%
93 UNP UNION PAC CORP Industrials 155,045.0 $37.6M 0.20% $242.62 +9.6%
94 HON HONEYWELL INTL INC Industrials 165,815.0 $37.5M 0.20% $226.03 -1.0%
95 DE DEERE CO Industrials 65,857.0 $37.1M 0.20% $563.30 -5.7%
96 ACN ACCENTURE PLC IRELAND Technology 185,738.0 $36.8M 0.20% -2K -0.8% $198.29 -10.3%
97 ICE INTERCONTINENTAL EXCHANGE IN Financial Services 231,942.0 $36.5M 0.19% $157.28 -3.7%
98 ETN EATON CORP PLC Industrials 101,456.0 $36.3M 0.19% $357.67 +6.7%
99 WELL WELLTOWER INC Real Estate 182,309.0 $36.0M 0.19% +3K +1.4% $197.71 +10.6%
100 BMY BRISTOL MYERS SQUIBB CO Healthcare 589,933.0 $35.8M 0.19% $60.65 -1.8%
Page 5 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%