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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 6 of 48  ·  941 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
101 BKNG BOOKING HOLDINGS INC Consumer Cyclical 8,459.0 $35.6M 0.19% $4210.32 -96.2%
102 SPGI S P GLOBAL INC Financial Services 82,953.0 $35.3M 0.19% -1K -1.4% $425.34 -2.0%
103 LMT LOCKHEED MARTIN CORP Industrials 57,718.0 $34.9M 0.18% -400.0 -0.7% $604.39 -13.5%
104 LOW LOWES COS INC Consumer Cyclical 146,570.0 $34.6M 0.18% $236.28 -8.0%
105 NEM NEWMONT CORP Basic Materials 314,545.0 $34.0M 0.18% $108.25 +0.1%
106 PANW PALO ALTO NETWORKS INC Technology 211,100.0 $33.8M 0.18% +32K +17.9% $160.32 +57.8%
107 PLD PROLOGIS INC Real Estate 254,267.0 $33.6M 0.18% $132.18 +9.5%
108 NOW SERVICENOW INC Technology 318,275.0 $33.3M 0.18% +2K +0.5% $104.55 -4.6%
109 CMCSA COMCAST CORP NEW Communication Services 1,118,389.0 $32.1M 0.17% -14K -1.2% $28.71 -12.6%
110 COF CAPITAL ONE FINL CORP Financial Services 173,764.0 $31.7M 0.17% -3K -1.8% $182.43 +2.3%
111 PGR PROGRESSIVE CORP Financial Services 158,688.0 $31.5M 0.17% $198.24 +2.2%
112 INTU INTUIT Technology 72,690.0 $31.4M 0.17% $432.38 -29.0%
113 DHR DANAHER CORP Healthcare 164,346.0 $31.2M 0.17% $189.60 -8.6%
114 CB CHUBB LTD SWITZ Financial Services 94,987.0 $31.0M 0.16% -800.0 -0.8% $325.93 +1.3%
115 VRTX VERTEX PHARMACEUTICALS INC Healthcare 69,123.0 $30.9M 0.16% $446.54 -3.6%
116 MOH MOLINA HEALTHCARE INC Healthcare 224,044.0 $29.9M 0.16% +211K +1568.0% $133.30 +36.0%
117 APP APPLOVIN CORP Technology 75,000.0 $29.9M 0.16% $398.00 +22.1%
118 SYK STRYKER CORPORATION Healthcare 89,999.0 $29.6M 0.16% $328.59 -2.2%
119 PH PARKER HANNIFIN CORP Industrials 32,996.0 $29.5M 0.16% $895.24 -4.0%
120 MDT MEDTRONIC PLC Healthcare 334,898.0 $29.0M 0.15% $86.65 -9.8%
Page 6 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%