STATE OF MICHIGAN RETIREMENT SYSTEM
Institutional investor · Portfolio as of Q2 2025
Top Holdings944 positions
Stock | Shares | Value | Weight | Avg Buy | Est. P&L | Held | Conviction |
|---|---|---|---|---|---|---|---|
NVIDIA CORP | 8.4M | $1.3B | 6.9% | $112.93 | +39.68% | 26 qtrssince 2019-Q1 | Decreased 0 |
MICROSOFT CORP | 2.3M | $1.1B | 5.8% | $154.97 | +218.91% | 26 qtrssince 2019-Q1 | Increased 62 |
APPLE INC | 4.4M | $899.3M | 4.7% | $107.82 | +89.38% | 26 qtrssince 2019-Q1 | Decreased 0 |
STATE STREET SPDR S&P 500 ETF TRUST CL USD INC | 1.2M | $750.8M | 3.9% | $384.61 | +58.96% | 26 qtrssince 2019-Q1 | Increased 60 |
AMAZON.COM INC | 3.1M | $689.3M | 3.6% | $114.90 | +94.34% | 26 qtrssince 2019-Q1 | Increased 58 |
META PLATFORMS INC-CLASS A | 864,814 | $638.3M | 3.3% | $252.13 | +190.54% | 26 qtrssince 2019-Q1 | Decreased 0 |
BROADCOM INC | 1.9M | $526.9M | 2.7% | $160.61 | +67.10% | 26 qtrssince 2019-Q1 | Increased 54 |
ALPHABET INC-CL A | 2M | $354.4M | 1.8% | $95.32 | +87.00% | 26 qtrssince 2019-Q1 | Decreased 0 |
ISHARES MSCI USA MOMENTUM FA | 1.2M | $289.8M | 1.5% | $154.57 | +53.01% | 20 qtrssince 2020-Q3 | Decreased 0 |
ALPHABET INC-CL C | 1.6M | $285.4M | 1.5% | $106.95 | +66.42% | 26 qtrssince 2019-Q1 | Increased 51 |
JPMORGAN CHASE & CO | 925,631 | $268.3M | 1.4% | $111.92 | +152.93% | 26 qtrssince 2019-Q1 | Increased 50 |
TESLA INC | 761,957 | $242M | 1.3% | $256.37 | +26.23% | 19 qtrssince 2020-Q4 | Increased 48 |
ISHARES IBOXX INVESTMENT GRA | 2.2M | $238.1M | 1.2% | $106.52 | -1.99% | 21 qtrssince 2020-Q2 | Unchanged 0 |
NETFLIX INC | 171,249 | $229.3M | 1.2% | $37.52 | +252.60% | 26 qtrssince 2019-Q1 | Unchanged 0 |
VISA INC-CLASS A SHARES | 600,023 | $213M | 1.1% | $172.70 | +103.60% | 26 qtrssince 2019-Q1 | Increased 49 |
ELI LILLY & CO | 265,504 | $207M | 1.1% | $270.85 | +185.38% | 26 qtrssince 2019-Q1 | Increased 48 |
COSTCO WHOLESALE CORP | 175,569 | $173.8M | 0.9% | $424.11 | +131.74% | 26 qtrssince 2019-Q1 | Increased 43 |
BERKSHIRE HATHAWAY INC-CL B | 346,529 | $168.3M | 0.9% | $220.54 | +120.22% | 26 qtrssince 2019-Q1 | Increased 43 |
MASTERCARD INC - A | 252,081 | $141.7M | 0.7% | $258.20 | +112.25% | 26 qtrssince 2019-Q1 | Decreased 0 |
PALANTIR TECHNOLOGIES INC-A | 938,400 | $127.9M | 0.7% | $31.10 | +320.43% | 18 qtrssince 2021-Q1 | Increased 43 |
STATE OF MICHIGAN RETIREMENT SYSTEM manages $19.3B across 944 positions as of Q2 2025. Top holdings: NVDA (6.9%), MSFT (5.8%), AAPL (4.7%). Fund DNA: Steady Compounder. HoldingsIntel Rating: 3/5.0.
Active quarter - 7 new positions, 7 exits, 471 increased. Top move: MSFT (INCREASED, conviction 62). Portfolio: $19.3B across 944 positions.
Top holdings by portfolio weight
Portfolio allocation by GICS sector
Behavioral investing profile
Position Outcomes
Best and worst performing positions by estimated return
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Cost basis estimates based on full filing history using quarter-end prices. Actual transaction prices are not disclosed in 13F filings.
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Data sourced from SEC EDGAR 13F filings. Not financial advice. Full disclaimer