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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 39 of 47  ·  935 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
761 ANF ABERCROMBIE FITCH CO Consumer Cyclical 11,100.0 $1.4M 0.01% NEW $125.87 -42.8%
762 RLI RLI CORP Financial Services 21,732.0 $1.4M 0.01% NEW $63.98 -20.6%
763 JHG JANUS HENDERSON GROUP PLC Financial Services 29,213.0 $1.4M 0.01% NEW $47.57 +8.7%
764 HXL HEXCEL CORP NEW Industrials 18,797.0 $1.4M 0.01% NEW $73.90 +20.0%
765 MSA MSA SAFETY INC Industrials 8,655.0 $1.4M 0.01% NEW $160.14 +6.9%
766 CAVA CAVA GROUP INC Consumer Cyclical 23,600.0 $1.4M 0.01% NEW $58.69 +36.1%
767 RYAN RYAN SPECIALTY HOLDINGS INC Financial Services 26,800.0 $1.4M 0.01% NEW $51.63 -38.4%
768 ALK ALASKA AIR GROUP INC Industrials 27,400.0 $1.4M 0.01% NEW $50.30 -26.6%
769 GAP GAP INC Consumer Cyclical 53,530.0 $1.4M 0.01% NEW $25.60 -17.8%
770 ABCL ABCELLERA BIOLOGICS INC Healthcare 400,000.0 $1.4M 0.01% NEW $3.42 +21.6%
771 TXNM ENERGY INC 23,189.0 $1.4M 0.01% NEW $58.88
772 NXST NEXSTAR MEDIA GROUP INC Communication Services 6,700.0 $1.4M 0.01% NEW $203.05 -3.8%
773 TMHC TAYLOR MORRISON HOME CORP Consumer Cyclical 23,095.0 $1.4M 0.01% NEW $58.87 -6.9%
774 WH WYNDHAM HOTELS RESORTS INC Consumer Cyclical 17,853.0 $1.3M 0.01% NEW $75.56 +5.5%
775 NOV NOV INC Energy 86,177.0 $1.3M 0.01% NEW $15.63 +30.3%
776 DAR DARLING INGREDIENTS INC Consumer Defensive 37,374.0 $1.3M 0.01% NEW $36.00 +73.2%
777 BSY BENTLEY SYS INC Technology 35,200.0 $1.3M 0.01% NEW $38.16 -12.7%
778 ARW ARROW ELECTRS INC Technology 12,175.0 $1.3M 0.01% NEW $110.18 +88.7%
779 GBCI GLACIER BANCORP INC NEW Financial Services 30,436.0 $1.3M 0.01% NEW $44.05 +3.4%
780 AN AUTONATION INC Consumer Cyclical 6,448.0 $1.3M 0.01% NEW $206.48 -11.9%
Page 39 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%