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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 8 of 48  ·  941 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
141 BSX BOSTON SCIENTIFIC CORP Healthcare 387,408.0 $24.3M 0.13% $62.75 -8.9%
142 HWM HOWMET AEROSPACE INC Industrials 104,745.0 $24.1M 0.13% $230.46 +12.8%
143 SLB SLB LIMITED Energy 468,238.0 $24.1M 0.13% $51.39 +11.5%
144 NOC NORTHROP GRUMMAN CORP Industrials 34,818.0 $23.8M 0.12% -300.0 -0.8% $682.24 -19.2%
145 ADP AUTOMATIC DATA PROCESSING IN Industrials 116,903.0 $23.8M 0.12% -700.0 -0.6% $203.18 +8.3%
146 PNC PNC FINL SVCS GROUP INC Financial Services 112,156.0 $23.3M 0.12% +3K +2.6% $208.09 +4.2%
147 WMB WILLIAMS COS INC Energy 319,021.0 $23.2M 0.12% $72.78 +7.0%
148 GD GENERAL DYNAMICS CORP Industrials 66,312.0 $22.8M 0.12% $343.22 -1.3%
149 CEG CONSTELLATION ENERGY CORP Utilities 81,367.0 $22.7M 0.12% $279.25 +2.4%
150 EOG EOG RES INC Energy 157,052.0 $22.7M 0.12% $144.57 -3.2%
151 MRSH MARSH MCLENNAN COS INC Financial Services 130,775.0 $22.7M 0.12% -2K -1.4% $173.45 -4.8%
152 USB US BANCORP Financial Services 435,982.0 $22.7M 0.12% $52.01 +4.8%
153 BX BLACKSTONE INC Financial Services 195,600.0 $22.5M 0.12% +2K +1.2% $114.99 +3.1%
154 STX SEAGATE TECHNOLOGY HLDNGS PL Technology 57,005.0 $22.3M 0.12% $391.76 +91.7%
155 WM WASTE MGMT INC DEL Industrials 96,888.0 $22.3M 0.12% $229.79 -4.4%
156 FCX FREEPORT MCMORAN INC Basic Materials 375,433.0 $22.1M 0.12% $58.78 +6.0%
157 VLO VALERO ENERGY CORP Energy 88,762.0 $21.9M 0.12% $247.08 +2.7%
158 CSX CSX CORP Industrials 531,584.0 $21.8M 0.12% $41.05 +11.8%
159 UPS UNITED PARCEL SVCS INC Industrials 217,914.0 $21.4M 0.11% $98.38 +0.5%
160 PWR QUANTA SVCS INC Industrials 38,948.0 $21.4M 0.11% $549.02 +29.3%
Page 8 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%