State of Michigan Retirement System
EAST LANSING, MI
$22.6bn in 960 US stocks at the end of 30 June 2026. The top 10 are 31.0% of the money. It changed about 11.8% of the portfolio this quarter.
Value
$22.6bn
Stocks
960
Top 10 share
31.0%
Turnover
11.8%
What changed this quarter
New
Bought for the first time this quarter.
- Blackrock ETF Trust IISECU0.4% of the fund
- Ishares TRAGG0.4% of the fund
- Ishares TRHYG0.3% of the fund
- Marvell TechnologyMRVL0.3% of the fund
- Spdr Series TrustSPTM0.2% of the fund
- IsharesEWW0.2% of the fund
- MckessonMCK0.1% of the fund
- Honeywell InternationalHON<0.1% of the fund
- Honeywell AerospaceHONA<0.1% of the fund
- Cardinal HealthCAH<0.1% of the fund
- CencoraCOR<0.1% of the fund
- CarnivalCCL<0.1% of the fund
- CloudflareNET<0.1% of the fund
- FedEx Freight Holding CompanyFDXF<0.1% of the fund
- DuPont de NemoursDD<0.1% of the fund
- RokuROKU<0.1% of the fund
- Coeur MiningCDE<0.1% of the fund
- CRISPR Therapeutics AGCRSP<0.1% of the fund
- SemtechSMTC<0.1% of the fund
- ASML Holding NVASML<0.1% of the fund
- SanminaSANM<0.1% of the fund
- DigitalOcean HoldingsDOCN<0.1% of the fund
- Viavi SolutionsVIAV<0.1% of the fund
- SharkNinjaSN<0.1% of the fund
- Nebius GroupNBIS<0.1% of the fund
Added
Bought more of a stock they already held.
- Advanced Micro DevicesAMD2.0% of the fund+28%
- Ishares TRLQD1.5% of the fund+41%
- State STR Spdr S&P 500 ETF TSPY1.3% of the fund+50%
- AdobeADBE1.2% of the fund+64%
- HubspotHUBS1.0% of the fund+1017%
- KrogerKR0.7% of the fund+28%
- Charter CommunicationsCHTR0.7% of the fund+148%
- DuolingoDUOL0.7% of the fund+9%
- Vertiv HoldingsVRT0.6% of the fund+4%
- Palantir TechnologiesPLTR0.5% of the fund+8%
- Arista NetworksANET0.4% of the fund+6%
- Ishares TRIJH0.4% of the fund+6%
- Ishares TRQUAL0.4% of the fund+29%
- Palo Alto NetworksPANW0.4% of the fund+16%
- Factset Research SystemsFDS0.3% of the fund+9%
- CrowdStrike HoldingsCRWD0.3% of the fund+20%
- TJX CompaniesTJX0.2% of the fund+5%
- EatonETN0.2% of the fund+5%
- Gilead SciencesGILD0.2% of the fund+3%
- ServiceNowNOW0.2% of the fund+20%
- ZoetisZTS0.2% of the fund+345%
- Spotify TechnologySPOT0.2% of the fund+43%
- General MotorsGM0.1% of the fund+6%
- Howmet AerospaceHWM0.1% of the fund+7%
- CoherentCOHR0.1% of the fund+55%
Cut
Sold some of their stake.
- Amazon.comAMZN2.8% of the fund-2%
- BroadcomAVGO2.7% of the fund-3%
- Ishares TRMTUM2.0% of the fund-3%
- Meta PlatformsMETA1.9% of the fund-10%
- JPMorgan ChaseJPM1.0% of the fund-3%
- IntelINTC0.7% of the fund-22%
- Berkshire HathawayBRK-B0.7% of the fund-3%
- Applied MaterialsAMAT0.7% of the fund-13%
- VisaV0.7% of the fund-3%
- Cisco SystemsCSCO0.6% of the fund-6%
- CaterpillarCAT0.6% of the fund-9%
- KLAKLAC0.5% of the fund-2%
- AbbVieABBV0.5% of the fund-2%
- Bank of AmericaBAC0.5% of the fund-3%
- General ElectricGE0.4% of the fund-2%
- UnitedHealth GroupUNH0.4% of the fund-17%
- MerckMRK0.4% of the fund-8%
- ChevronCVX0.4% of the fund-2%
- Goldman Sachs GroupGS0.3% of the fund-4%
- CitigroupC0.3% of the fund-5%
- Morgan StanleyMS0.3% of the fund-2%
- Western DigitalWDC0.2% of the fund-14%
- QualcommQCOM0.2% of the fund-9%
- Taiwan Semiconductor ManufacturingTSM0.2% of the fund-11%
- Analog DevicesADI0.2% of the fund-2%
Sold out
Sold their entire stake.
- Select Sector Spdr TRXLV-100%
- Honeywell InternationalHON-100%
- Carnival-100%
- Coterra EnergyCTRA-100%
- DuPont de NemoursDD-100%
- Hologic-100%
- Conagra BrandsCAG-100%
- Masimo-100%
- EPAM SystemsEPAM-100%
- PoolPOOL-100%
- Janus Henderson Group-100%
- OkloOKLO-100%
- Campbell'sCPB-100%
- Bellring BrandsBRBR-100%
- Flowers FoodsFLO-100%
- BlackbaudBLKB-100%
- ConcentrixCNXC-100%
- CotyCOTY-100%
Holdings
- Ishares TRMTUM
- Share
- 2.0%
- Value
- $446m
- Shares
- 1,301,990
-3%
- Ishares TRLQD
- Share
- 1.5%
- Value
- $335m
- Shares
- 3,072,400
+41%
- State STR Spdr S&P 500 ETF TSPY
- Share
- 1.3%
- Value
- $304m
- Shares
- 407,152
+50%
- Blackrock ETF Trust IISECU
- Share
- 0.4%
- Value
- $95m
- Shares
- 1,900,000
New
- Ishares TRIJH
- Share
- 0.4%
- Value
- $92m
- Shares
- 1,194,710
+6%
- Ishares TRQUAL
- Share
- 0.4%
- Value
- $92m
- Shares
- 419,649
+29%
- Ishares TRAGG
- Share
- 0.4%
- Value
- $89m
- Shares
- 900,000
New
- Berkshire Hathaway INC DELBRK-A
- Share
- 0.4%
- Value
- $87m
- Shares
- 116
Held
- Ishares TRHYG
- Share
- 0.3%
- Value
- $72m
- Shares
- 900,000
New
- Ishares TRMBB
- Share
- 0.3%
- Value
- $57m
- Shares
- 600,000
Held
- Spdr Series TrustSPTM
- Share
- 0.2%
- Value
- $51m
- Shares
- 565,479
New
- IsharesEWW
- Share
- 0.2%
- Value
- $49m
- Shares
- 656,000
New
- Ishares TRVLUE
- Share
- 0.2%
- Value
- $44m
- Shares
- 218,300
-22%
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| NvidiaNVDA | 6.3% | $1.4bn | 7,144,304 | Held |
| AppleAAPL | 4.9% | $1.1bn | 3,830,399 | Held |
| MicrosoftMSFT | 3.3% | $756m | 2,026,202 | Held |
| Amazon.comAMZN | 2.8% | $631m | 2,647,879 | -2% |
| BroadcomAVGO | 2.7% | $617m | 1,634,642 | -3% |
| AlphabetGOOGL | 2.5% | $564m | 1,578,570 | Held |
| AlphabetGOOG | 2.4% | $552m | 1,560,960 | Held |
| Advanced Micro DevicesAMD | 2.0% | $459m | 790,453 | +28% |
| Ishares TRMTUM | 2.0% | $446m | 1,301,990 | -3% |
| Micron TechnologyMU | 1.9% | $432m | 374,042 | Held |
| Meta PlatformsMETA | 1.9% | $429m | 762,054 | -10% |
| Ishares TRLQD | 1.5% | $335m | 3,072,400 | +41% |
| State STR Spdr S&P 500 ETF TSPY | 1.3% | $304m | 407,152 | +50% |
| TeslaTSLA | 1.3% | $303m | 720,857 | Held |
| AdobeADBE | 1.2% | $277m | 1,349,261 | +64% |
| Eli LillyLLY | 1.1% | $255m | 212,904 | Held |
| JPMorgan ChaseJPM | 1.0% | $225m | 686,031 | -3% |
| HubspotHUBS | 1.0% | $217m | 1,188,887 | +1017% |
| IntelINTC | 0.7% | $169m | 1,209,653 | -22% |
| Berkshire HathawayBRK-B | 0.7% | $165m | 329,329 | -3% |
| Johnson & JohnsonJNJ | 0.7% | $163m | 642,467 | Held |
| KrogerKR | 0.7% | $163m | 2,929,710 | +28% |
| Applied MaterialsAMAT | 0.7% | $161m | 223,051 | -13% |
| Lam ResearchLRCX | 0.7% | $155m | 358,800 | Held |
| VisaV | 0.7% | $155m | 453,023 | -3% |
| Charter CommunicationsCHTR | 0.7% | $152m | 1,070,397 | +148% |
| ExxonMobil HoldingsXOM | 0.7% | $151m | 1,106,818 | Held |
| DuolingoDUOL | 0.7% | $150m | 1,306,107 | +9% |
| Vertiv HoldingsVRT | 0.6% | $137m | 410,590 | +4% |
| Cisco SystemsCSCO | 0.6% | $136m | 1,154,062 | -6% |
| WalmartWMT | 0.6% | $130m | 1,151,220 | Held |
| CaterpillarCAT | 0.6% | $126m | 117,972 | -9% |
| MastercardMA | 0.5% | $122m | 237,681 | Held |
| KLAKLAC | 0.5% | $114m | 378,480 | -2% |
| AbbVieABBV | 0.5% | $114m | 452,408 | -2% |
| Palantir TechnologiesPLTR | 0.5% | $111m | 948,281 | +8% |
| Costco WholesaleCOST | 0.5% | $110m | 117,369 | Held |
| Bank of AmericaBAC | 0.5% | $102m | 1,798,812 | -3% |
| General ElectricGE | 0.4% | $100m | 267,161 | -2% |
| UnitedHealth GroupUNH | 0.4% | $97m | 232,519 | -17% |
| Arista NetworksANET | 0.4% | $96m | 566,692 | +6% |
| Blackrock ETF Trust IISECU | 0.4% | $95m | 1,900,000 | New |
| Ishares TRIJH | 0.4% | $92m | 1,194,710 | +6% |
| Ishares TRQUAL | 0.4% | $92m | 419,649 | +29% |
| Procter & GamblePG | 0.4% | $90m | 614,537 | Held |
| Home DepotHD | 0.4% | $90m | 254,984 | Held |
| Ishares TRAGG | 0.4% | $89m | 900,000 | New |
| Kayne Anderson BDCKBDC | 0.4% | $89m | 6,566,762 | Held |
| Berkshire Hathaway INC DELBRK-A | 0.4% | $87m | 116 | Held |
| SandiskSNDK | 0.4% | $86m | 37,901 | Held |
| MerckMRK | 0.4% | $85m | 663,390 | -8% |
| Palo Alto NetworksPANW | 0.4% | $83m | 244,039 | +16% |
| Coca-ColaKO | 0.4% | $83m | 1,021,448 | Held |
| NetflixNFLX | 0.4% | $83m | 1,155,690 | Held |
| GE VernovaGEV | 0.4% | $82m | 69,840 | Held |
| Hims & Hers HealthHIMS | 0.4% | $81m | 2,346,282 | Held |
| ChevronCVX | 0.4% | $79m | 479,339 | -2% |
| Goldman Sachs GroupGS | 0.3% | $76m | 75,567 | -4% |
| Philip Morris InternationalPM | 0.3% | $72m | 399,058 | Held |
| Ishares TRHYG | 0.3% | $72m | 900,000 | New |
| Texas InstrumentsTXN | 0.3% | $69m | 233,061 | Held |
| Wells Fargo & CompanyWFC | 0.3% | $69m | 835,149 | Held |
| International Business MachinesIBM | 0.3% | $68m | 240,640 | Held |
| CitigroupC | 0.3% | $67m | 480,136 | -5% |
| Marvell TechnologyMRVL | 0.3% | $67m | 224,200 | New |
| RTXRTX | 0.3% | $65m | 344,800 | Held |
| LindeLIN | 0.3% | $65m | 125,304 | Held |
| Morgan StanleyMS | 0.3% | $64m | 306,926 | -2% |
| AmphenolAPH | 0.3% | $64m | 363,574 | Held |
| OracleORCL | 0.3% | $64m | 434,432 | Held |
| Factset Research SystemsFDS | 0.3% | $61m | 265,428 | +9% |
| CrowdStrike HoldingsCRWD | 0.3% | $61m | 79,334 | +20% |
| Ishares TRMBB | 0.3% | $57m | 600,000 | Held |
| Western DigitalWDC | 0.2% | $56m | 88,257 | -14% |
| QualcommQCOM | 0.2% | $56m | 304,066 | -9% |
| Taiwan Semiconductor ManufacturingTSM | 0.2% | $56m | 117,600 | -11% |
| Seagate Technology HoldingsSTX | 0.2% | $55m | 57,405 | Held |
| TJX CompaniesTJX | 0.2% | $55m | 365,082 | +5% |
| Verizon CommunicationsVZ | 0.2% | $55m | 1,294,850 | Held |
| Spdr Series TrustSPTM | 0.2% | $51m | 565,479 | New |
| Molina HealthcareMOH | 0.2% | $51m | 224,044 | Held |
| CorningGLW | 0.2% | $51m | 200,499 | Held |
| AmgenAMGN | 0.2% | $50m | 138,197 | Held |
| Analog DevicesADI | 0.2% | $50m | 124,955 | -2% |
| IsharesEWW | 0.2% | $49m | 656,000 | New |
| McDonald'sMCD | 0.2% | $49m | 181,915 | -2% |
| PepsiCoPEP | 0.2% | $49m | 358,222 | Held |
| Walt DisneyDIS | 0.2% | $48m | 501,266 | Held |
| Thermo Fisher ScientificTMO | 0.2% | $48m | 95,110 | -3% |
| NextEra EnergyNEE | 0.2% | $47m | 533,898 | Held |
| American ExpressAXP | 0.2% | $46m | 136,277 | -3% |
| EatonETN | 0.2% | $46m | 106,856 | +5% |
| AT&TT | 0.2% | $45m | 2,168,813 | Held |
| BoeingBA | 0.2% | $44m | 201,796 | Held |
| Ishares TRVLUE | 0.2% | $44m | 218,300 | -22% |
| Gilead SciencesGILD | 0.2% | $42m | 333,195 | +3% |
| Union PacificUNP | 0.2% | $41m | 152,045 | Held |
| Oscar HealthOSCR | 0.2% | $41m | 1,450,000 | Held |
| WelltowerWELL | 0.2% | $41m | 180,709 | Held |
| DeereDE | 0.2% | $41m | 64,357 | -2% |
Showing the largest 100 of 960.
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is up 17.0% since 30 June 2025.
Where the money is
Technology35.4%
Financial services10.1%
Media & telecom9.4%
Retail & consumer8.4%
Industrials8.4%
Health care8.1%
Everyday goods4.3%
Energy2.4%
Utilities1.8%
Real estate1.6%
Materials1.6%
Other8.6%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.