SO

State Of Michigan Retirement System

Diversified strategyMomentum follower

Total reported value

$18.9B

Reporting period: 2026-03-31 · Number of holdings: 941

STATE OF MICHIGAN RETIREMENT SYSTEM disclosed 941 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $18.9B and a quarterly turnover rate of 21.9%.

Personality snowflake

Concentration
6.05
Portfolio Stability
21.92
Momentum/Contrarian
67.33
Sector conviction
51.88
Diversification
100
Sizing Uniformity
63.62

Recent moves

  • Trim SPY

    -69.2%　-$423.8M

  • Trim MSFT

    -7.9%　-$318.6M

  • Add ADBE

    +566.1%　$156.4M

  • Trim NVDA

    -10.1%　-$239.8M

  • Trim GOOGL

    -17.1%　-$143.6M

  • Add CHTR

    +1547.4%　$87.7M

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

#TickerIssuerAsset SubclassWeightWeight ChangeShares Change4Q Trend
1NVDANvidia CORPStock-Tech6.67%-0.64%-10.12%
2AAPLApple INCStock-Tech5.23%-0.30%-6.77%
3MSFTMicrosoft CORPStock-Tech4.02%-1.23%-7.88%
4AMZNAmazon.com INCStock-Consumer Disc2.97%-0.40%-9.99%
5AVGOBroadcom INCStock-Tech2.76%-0.35%-8.54%
6METAMeta Platforms Inc-class AStock-Comm Services2.57%-0.15%+0.13%
7GOOGLAlphabet Inc-cl AStock-Comm Services2.42%-0.51%-17.08%
8GOOGAlphabet Inc-cl CStock-Comm Services2.38%-0.01%+0.27%
9MTUMIshares Msci USA Momentum FaETF-Other1.70%—+4.10%
10TSLATesla INCStock-Consumer Disc1.44%-0.17%-0.14%
11LQDIshr Ibx Usd Invgd Cb Etf-uiETF-Corp Bonds1.25%——
12JPMJpmorgan Chase & CoStock-Financials1.09%-0.34%-22.83%
13ADBEAdobe INCStock-Tech1.05%+0.84%+566.13%
14LLYEli Lilly & CoStock-Healthcare1.05%-0.29%-15.93%
15XOMExxon Mobil CORPStock-Energy0.98%+0.33%-1.11%
16SPYSs Spdr S&p 500 ETF Trust-usETF-Large Cap & Growth0.93%-1.99%-69.21%
17KRKroger CoStock-Consumer Staples0.87%+0.45%+64.09%
18BRK-BBerkshire Hathaway Inc-cl BStock-Other0.86%—-0.03%
19JNJJohnson & JohnsonStock-Healthcare0.84%+0.18%-0.20%
20WMTWalmart INCStock-Consumer Staples0.77%+0.13%-0.25%
21VVisa Inc-class A SharesStock-Financials0.74%-0.20%-15.83%
22PLTRPalantir Technologies Inc-aStock-Tech0.68%-0.08%-0.15%
23AMDAdvanced Micro DevicesStock-Tech0.66%-0.22%-26.73%
24MUMicron Technology INCStock-Tech0.66%+0.15%+0.05%
25MAMastercard INC - AStock-Financials0.63%-0.04%-0.79%
26COSTCostco Wholesale CORPStock-Consumer Staples0.63%-0.08%-29.51%
27DUOLDuolingoStock-Tech0.62%+0.14%+112.90%
28NFLXNetflix INCStock-Comm Services0.59%-0.14%-27.28%
29CVXChevron CORPStock-Energy0.54%+0.17%-1.19%
30ABBVAbbvie INCStock-Healthcare0.53%—-0.22%
31VRTVertiv Holdings Co-aStock-Industrials0.52%+0.33%+65.32%
32CSCOCisco Systems INCStock-Tech0.50%—+0.04%
33CHTRCharter Communications Inc-aStock-Comm Services0.49%+0.46%+1547.45%
34CATCaterpillar INCStock-Industrials0.48%+0.12%-0.69%
35PGProcter & Gamble Co/theStock-Consumer Staples0.48%—-0.73%
36KBDCKayne Anderson Bdc INCStock-Other0.48%——
37BACBank Of America CORPStock-Financials0.48%—-1.36%
38TDGTransdigm Group INCStock-Industrials0.46%——
39AMATApplied Materials INCStock-Tech0.46%+0.14%-0.47%
40MRKMerck & Co. INC.Stock-Healthcare0.46%—-0.19%
41HDHome Depot INCStock-Consumer Disc0.45%—-0.19%
42BRK-ABerkshire Hathaway Inc-cl AStock-Other0.44%——
43KOCoca-cola Co/theStock-Consumer Staples0.42%—-0.21%
44GEGeneral ElectricStock-Industrials0.41%—-0.80%
45LRCXLam Research CORPStock-Tech0.41%+0.11%-0.71%
46IJHIshares Core S&p Midcap ETFETF-Other0.40%—+9.36%
47UNHUnitedhealth Group INCStock-Healthcare0.40%—+14.90%
48INTCIntel CORPStock-Tech0.36%—+3.53%
49WFCWells Fargo & CoStock-Financials0.36%—-1.60%
50RTXRtx CORPStock-Industrials0.36%—-0.11%
1–50 of 941

Holding changes this quarter

State Of Michigan Retirement System's most significant position changes for 2026-03-31: New buy: Spotify Technology S.A. (SPOT); New buy: Royal Caribbean Cruises Ltd. (RCL); New buy: NXP Semiconductors N.V. (NXPI); Trim: Ss Spdr S&p 500 ETF Trust-us (SPY) — shares -69.21%; Trim: Microsoft CORP (MSFT) — shares -7.88%.

Position changes disclosed by State Of Michigan Retirement System for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#TickerIssuerWeight ChangeShares ChangeAction
1ADBEAdobe INC+0.8%+566.13%Add
2CHTRCharter Communications Inc-a+0.5%+1547.45%Add
3KRKroger Co+0.5%+64.09%Add
4VRTVertiv Holdings Co-a+0.3%+65.32%Add
5XOMExxon Mobil CORP+0.3%-1.11%Trim
6FDSFactset Research Systems INC+0.2%+523.23%Add
7JNJJohnson & Johnson+0.2%-0.20%Trim
8CVXChevron CORP+0.2%-1.19%Trim
9MOHMolina Healthcare INC+0.2%+1567.99%Add
10MUMicron Technology INC+0.2%+0.05%Add
11AMATApplied Materials INC+0.1%-0.47%Trim
12DUOLDuolingo+0.1%+112.90%Add
13WMTWalmart INC+0.1%-0.25%Trim
14CATCaterpillar INC+0.1%-0.69%Trim
15LRCXLam Research CORP+0.1%-0.71%Trim
16SNDKSandisk CORP+0.1%+6.04%Add
17GEVGE Vernova INC+0.1%-0.84%Trim
18QUALIshares Msci USA Quality Fac+0.1%+32.44%Add
19GOOGAlphabet Inc-cl C0%+0.27%Add
20MAMastercard INC - A0%-0.79%Trim
21QCOMQualcomm INC-0.1%-0.48%Trim
22ACNAccenture plc-0.1%-0.85%Trim
23HIMSHims & Hers Health INC-0.1%+13.65%Add
24NOWServicenow INC-0.1%+0.54%Add
25INTUIntuit INC-0.1%-0.41%Trim
26HUBSHubspot INC-0.1%—Unchanged
27PLTRPalantir Technologies Inc-a-0.1%-0.15%Trim
28COSTCostco Wholesale CORP-0.1%-29.51%Trim
29ORCLOracle CORP-0.1%+0.59%Add
30CRMSalesforce INC-0.1%-1.81%Trim
31VLUEIshares Msci USA Value Facto-0.1%-37.50%Trim
32APPApplovin Corp-class A-0.1%-0.13%Trim
33NFLXNetflix INC-0.1%-27.28%Trim
34METAMeta Platforms Inc-class A-0.2%+0.13%Add
35TSLATesla INC-0.2%-0.14%Trim
36VVisa Inc-class A Shares-0.2%-15.83%Trim
37AMDAdvanced Micro Devices-0.2%-26.73%Trim
38LLYEli Lilly & Co-0.3%-15.93%Trim
39AAPLApple INC-0.3%-6.77%Trim
40ISRGIntuitive Surgical INC-0.3%-50.25%Trim
41JPMJpmorgan Chase & Co-0.3%-22.83%Trim
42AVGOBroadcom INC-0.4%-8.54%Trim
43AMZNAmazon.com INC-0.4%-9.99%Trim
44GOOGLAlphabet Inc-cl A-0.5%-17.08%Trim
45NVDANvidia CORP-0.6%-10.12%Trim
46MSFTMicrosoft CORP-1.2%-7.88%Trim
47SPYSs Spdr S&p 500 ETF Trust-us-2%-69.21%Trim
48SPOTSpotify Technology S.A.—NEWNew buy
49RCLRoyal Caribbean Cruises Ltd.—NEWNew buy
50NXPINXP Semiconductors N.V.—NEWNew buy

FAQ

What is State Of Michigan Retirement System and what type of investor is it?
State Of Michigan Retirement System is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-03-31), the firm manages a tracked equity portfolio valued at approximately $18.9B, spread across 941 disclosed positions.
What are State Of Michigan Retirement System's largest equity positions?
Based on the latest 13F filing, State Of Michigan Retirement System's top holdings by market value are: 1. Nvidia CORP (NVDA) — $1.3B (6.7%) 2. Apple INC (AAPL) — $989.9M (5.2%) 3. Microsoft CORP (MSFT) — $761.8M (4.0%) 4. Amazon.com INC (AMZN) — $563.0M (3.0%) 5. Broadcom INC (AVGO) — $522.8M (2.8%)
What changes did State Of Michigan Retirement System make in its most recent portfolio filing?
In the latest reported quarter, State Of Michigan Retirement System made 49 notable position adjustments: 3 new positions were initiated, 15 existing holdings were added to, 31 positions were partially reduced, and 0 were completely exited. The largest of these moves: New buy: Spotify Technology S.A. (SPOT); New buy: Royal Caribbean Cruises Ltd. (RCL); New buy: NXP Semiconductors N.V. (NXPI); Trim: Ss Spdr S&p 500 ETF Trust-us (SPY) — shares -69.21%; Trim: Microsoft CORP (MSFT) — shares -7.88%
What sectors does State Of Michigan Retirement System focus on?
State Of Michigan Retirement System is concentrated in the following sectors based on its current disclosed equity portfolio: • Information Technology: 33.9% • Financials: 11.6% • Communication Services: 11.0% • Consumer Discretionary: 9.8% • Industrials: 9.3% • Health Care: 9.2%