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Portfolio (Quarterly) Guide ↗

STATE OF MICHIGAN RETIREMENT SYSTEM

· CIK 0000762152
13F Portfolio $20.6B AUM Filed Jan 29, 2026 EDGAR ↗ ← All Funds
Q1 2026 Q4 2025 · All 935 New
Page 35 of 47  ·  935 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
681 ATR APTARGROUP INC Healthcare 15,510.0 $1.9M 0.01% NEW $121.96 -6.3%
682 LAD LITHIA MTRS INC Consumer Cyclical 5,687.0 $1.9M 0.01% NEW $332.33 -21.1%
683 VMI VALMONT INDS INC Industrials 4,688.0 $1.9M 0.01% NEW $402.32 +22.8%
684 CADENCE BANK 44,010.0 $1.9M 0.01% NEW $42.84
685 HALO HALOZYME THERAPEUTICS INC Healthcare 27,838.0 $1.9M 0.01% NEW $67.30 -0.7%
686 OSK OSHKOSH CORP Industrials 14,908.0 $1.9M 0.01% NEW $125.63 -5.7%
687 HQY HEALTHEQUITY INC Healthcare 20,322.0 $1.9M 0.01% NEW $91.61 -11.5%
688 AVTR AVANTOR INC Healthcare 161,100.0 $1.8M 0.01% NEW $11.46 -33.8%
689 CYTK CYTOKINETICS INC Healthcare 28,900.0 $1.8M 0.01% NEW $63.54 +17.6%
690 ONB OLD NATL BANCORP IND Financial Services 82,142.0 $1.8M 0.01% NEW $22.31 +4.3%
691 SFM SPROUTS FMRS MKT INC Consumer Defensive 22,996.0 $1.8M 0.01% NEW $79.67 +13.8%
692 ONTO ONTO INNOVATION INC Technology 11,600.0 $1.8M 0.01% NEW $157.86 +55.5%
693 R RYDER SYS INC Industrials 9,530.0 $1.8M 0.01% NEW $191.39 +19.9%
694 TTC TORO CO Industrials 23,132.0 $1.8M 0.01% NEW $78.72 +12.3%
695 CMC COMMERCIAL METALS CO Basic Materials 26,237.0 $1.8M 0.01% NEW $69.22 -1.2%
696 AVAV AEROVIRONMENT INC Industrials 7,500.0 $1.8M 0.01% NEW $241.89 -34.0%
697 SEIC SEI INVTS CO Financial Services 21,988.0 $1.8M 0.01% NEW $82.02 +10.9%
698 WTS WATTS WATER TECHNOLOGIES INC Industrials 6,495.0 $1.8M 0.01% NEW $276.02 +7.1%
699 FR FIRST INDL RLTY TR INC Real Estate 31,268.0 $1.8M 0.01% NEW $57.27 +6.9%
700 CLF CLEVELAND CLIFFS INC NEW Basic Materials 134,627.0 $1.8M 0.01% NEW $13.28 -22.6%
Page 35 of 47  ·  935 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 34.9%
Financial Services 14.8%
Communication Services 11.1%
Consumer Cyclical 9.8%
Healthcare 9.3%
Industrials 7.7%
Consumer Defensive 4.6%
Energy 2.5%
Utilities 2.1%
Real Estate 1.8%