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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 16 of 47  ·  935 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
301 KEYS KEYSIGHT TECHNOLOGIES INC Technology 45,031.0 $9.1M 0.04% NEW $203.19 +71.8%
302 NU NU HLDGS LTD Financial Services 540,800.0 $9.1M 0.04% NEW $16.74 -27.2%
303 MCHP MICROCHIP TECHNOLOGY INC Technology 141,518.0 $9.0M 0.04% NEW $63.72 +47.3%
304 FIS FIDELITY NATL INFORMATION SV Technology 135,603.0 $9.0M 0.04% NEW $66.46 -37.1%
305 WEC WEC ENERGY GROUP INC Utilities 85,184.0 $9.0M 0.04% NEW $105.46 +3.5%
306 OTIS OTIS WORLDWIDE CORP Industrials 102,007.0 $8.9M 0.04% NEW $87.35 -18.7%
307 VICI VICI PPTYS INC Real Estate 315,200.0 $8.9M 0.04% NEW $28.12 -0.8%
308 KMB KIMBERLY CLARK CORP Consumer Defensive 86,916.0 $8.8M 0.04% NEW $100.89 -4.9%
309 MTB M T BK CORP Financial Services 43,501.0 $8.8M 0.04% NEW $201.48 +1.7%
310 EQT EQT CORP Energy 163,400.0 $8.8M 0.04% NEW $53.60 +4.9%
311 ARKB ARK 21SHARES BITCOIN ETF Financial Services 300,000.0 $8.7M 0.04% NEW $29.04 -12.3%
312 ARES ARES MANAGEMENT CORPORATION Financial Services 53,900.0 $8.7M 0.04% NEW $161.63 -23.5%
313 XYL XYLEM INC Industrials 63,775.0 $8.7M 0.04% NEW $136.18 -20.6%
314 ULTA ULTA BEAUTY INC Consumer Cyclical 14,353.0 $8.7M 0.04% NEW $605.01 -18.3%
315 KVUE KENVUE INC Consumer Defensive 501,539.0 $8.7M 0.04% NEW $17.25 -0.8%
316 SANDISK CORP 36,401.0 $8.6M 0.04% NEW $237.38
317 FITB FIFTH THIRD BANCORP Financial Services 184,316.0 $8.6M 0.04% NEW $46.81 +1.2%
318 HUM HUMANA INC Healthcare 33,425.0 $8.6M 0.04% NEW $256.13 +19.1%
319 WTW WILLIS TOWERS WATSON PLC LTD Financial Services 25,992.0 $8.5M 0.04% NEW $328.60 -24.4%
320 SYF SYNCHRONY FINANCIAL Financial Services 102,040.0 $8.5M 0.04% NEW $83.43 -14.4%
Page 16 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%