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Portfolio (Quarterly) Guide ↗

STATE OF MICHIGAN RETIREMENT SYSTEM

· CIK 0000762152
13F Portfolio $18.9B AUM 941 positions Filed May 4, 2026 EDGAR ↗ ← All Funds
Q1 2026 Q4 2025 · All 23 New 374 Added 194 Reduced 17 Exited
Page 39 of 48  ·  941 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
761 HR HEALTHCARE RLTY TR Real Estate 83,953.0 $1.4M 0.01% +900.0 +1.1% $16.99 +20.1%
762 AXTA AXALTA COATING SYS LTD Basic Materials 51,400.0 $1.4M 0.01% +1K +2.0% $27.70 +24.9%
763 H HYATT HOTELS CORP Consumer Cyclical 9,900.0 $1.4M 0.01% $143.79 +39.4%
764 G GENPACT LIMITED Technology 38,084.0 $1.4M 0.01% +200.0 +0.5% $37.25 -23.0%
765 VLYPN VALLEY NATL BANCORP Financial Services 115,181.0 $1.4M 0.01% +2K +1.7% $12.28 +110.1%
766 RYN RAYONIER INC Real Estate 68,572.0 $1.4M 0.01% +32K +86.5% $20.62 +6.2%
767 AVAV AEROVIRONMENT INC Industrials 7,700.0 $1.4M 0.01% +200.0 +2.7% $183.05 -20.0%
768 ABCL ABCELLERA BIOLOGICS INC Healthcare 400,000.0 $1.4M 0.01% $3.49 +71.3%
769 UBSI UNITED BANKSHARES INC WEST V Financial Services 33,613.0 $1.4M 0.01% +500.0 +1.5% $41.42 +9.9%
770 MTG MGIC INVT CORP WIS Financial Services 52,817.0 $1.4M 0.01% $26.25 +2.8%
771 GBCI GLACIER BANCORP INC NEW Financial Services 30,936.0 $1.4M 0.01% +500.0 +1.6% $44.67 +11.9%
772 TXNM ENERGY INC 23,589.0 $1.4M 0.01% +400.0 +1.7% $58.46
773 TMHC TAYLOR MORRISON HOME CORP Consumer Cyclical 23,495.0 $1.4M 0.01% +400.0 +1.7% $58.24 +23.7%
774 CELH CELSIUS HLDGS INC Consumer Defensive 38,500.0 $1.4M 0.01% +700.0 +1.9% $35.48 -18.5%
775 OKLO OKLO INC Utilities 27,500.0 $1.4M 0.01% $49.59 +10.6%
776 OLLI OLLIES BARGAIN OUTLET HLDGS Consumer Defensive 14,803.0 $1.4M 0.01% +300.0 +2.1% $92.04 -18.8%
777 AAON AAON INC Industrials 16,300.0 $1.3M 0.01% +300.0 +1.9% $82.75 +58.7%
778 DVA DAVITA INC Healthcare 8,749.0 $1.3M 0.01% -500.0 -5.4% $153.69 +38.4%
779 VFC V F CORP Consumer Cyclical 79,100.0 $1.3M 0.01% +2K +1.9% $16.99 +1.6%
780 SWX SOUTHWEST GAS HLDGS INC Utilities 15,429.0 $1.3M 0.01% +200.0 +1.3% $86.90 +3.1%
Page 39 of 48  ·  941 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 33.7%
Financial Services 12.1%
Communication Services 11.1%
Consumer Cyclical 9.5%
Healthcare 9.2%
Industrials 9.0%
Consumer Defensive 5.5%
Energy 3.7%
Utilities 2.6%
Real Estate 2.0%