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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 44 of 47  ·  935 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
861 KNF KNIFE RIVER CORP Basic Materials 13,355.0 $940K 0.01% NEW $70.35 +7.2%
862 NWE NORTHWESTERN ENERGY GROUP IN Utilities 14,528.0 $938K 0.01% NEW $64.54 +10.7%
863 DLB DOLBY LABORATORIES INC Technology 14,500.0 $931K 0.01% NEW $64.22 -15.2%
864 AVT AVNET INC Technology 19,205.0 $923K 0.00% NEW $48.08 +73.9%
865 FFIN FIRST FINL BANKSHARES INC Financial Services 30,763.0 $919K 0.00% NEW $29.87 +6.4%
866 FEDERATED HERMES INC 17,476.0 $910K 0.00% NEW $52.07
867 MSM MSC INDL DIRECT INC Industrials 10,765.0 $905K 0.00% NEW $84.10 +26.0%
868 GHC GRAHAM HLDGS CO Consumer Defensive 824.0 $905K 0.00% NEW $1098.60 +2.2%
869 EPR EPR PPTYS Real Estate 17,989.0 $898K 0.00% NEW $49.90 +16.3%
870 FLAGSTAR BANK NATIONAL ASSOC 70,695.0 $890K 0.00% NEW $12.59
871 TREX TREX CO INC Industrials 25,322.0 $888K 0.00% NEW $35.08 +9.4%
872 HAE HAEMONETICS CORP MASS Healthcare 11,074.0 $888K 0.00% NEW $80.15 -28.8%
873 MSTR STRATEGY INC Technology 5,800.0 $881K 0.00% NEW $151.95 +7.6%
874 BHF BRIGHTHOUSE FINL INC Financial Services 13,468.0 $873K 0.00% NEW $64.79 -3.1%
875 VVV VALVOLINE INC Energy 30,015.0 $872K 0.00% NEW $29.06 +14.4%
876 KBH KB HOME Consumer Cyclical 15,338.0 $865K 0.00% NEW $56.41 -19.3%
877 SHC SOTERA HEALTH CO Healthcare 49,000.0 $864K 0.00% NEW $17.64 -12.4%
878 SSNC SS C TECHNOLOGIES HLDGS INC Technology 9,870.0 $863K 0.00% NEW $87.42 -23.0%
879 INTERNATIONAL BANCSHARES COR 12,812.0 $851K 0.00% NEW $66.44
880 NVST ENVISTA HOLDINGS CORPORATION Healthcare 38,863.0 $844K 0.00% NEW $21.71 +7.2%
Page 44 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%