STATE OF MICHIGAN RETIREMENT SYSTEM
Institutional investor · Portfolio as of Q3 2025
Top Holdings944 positions
Stock | Shares | Value | Weight | Avg Buy | Est. P&L | Held | Conviction |
|---|---|---|---|---|---|---|---|
NVIDIA CORP | 8.4M | $1.6B | 7.5% | $112.93 | +61.03% | 27 qtrssince 2019-Q1 | Decreased 0 |
MICROSOFT CORP | 2.3M | $1.2B | 5.7% | $160.72 | +219.59% | 27 qtrssince 2019-Q1 | Increased 63 |
APPLE INC | 4.3M | $1.1B | 5.3% | $107.82 | +135.30% | 27 qtrssince 2019-Q1 | Decreased 0 |
STATE STREET SPDR S&P 500 ETF TRUST CL USD INC | 1.2M | $820.6M | 3.9% | $388.33 | +70.40% | 27 qtrssince 2019-Q1 | Increased 59 |
AMAZON.COM INC | 3.1M | $676.5M | 3.3% | $114.90 | +93.36% | 27 qtrssince 2019-Q1 | Decreased 0 |
META PLATFORMS INC-CLASS A | 861,014 | $632.3M | 3.0% | $252.13 | +194.61% | 27 qtrssince 2019-Q1 | Decreased 0 |
BROADCOM INC | 1.9M | $628.5M | 3.0% | $160.61 | +103.77% | 27 qtrssince 2019-Q1 | Decreased 0 |
ALPHABET INC-CL A | 2M | $486.7M | 2.3% | $95.32 | +155.87% | 27 qtrssince 2019-Q1 | Decreased 0 |
ALPHABET INC-CL C | 1.6M | $388.5M | 1.9% | $106.95 | +128.33% | 27 qtrssince 2019-Q1 | Decreased 0 |
TESLA INC | 758,957 | $337.5M | 1.6% | $256.37 | +72.88% | 20 qtrssince 2020-Q4 | Decreased 0 |
ISHARES MSCI USA MOMENTUM FA | 1.2M | $313.8M | 1.5% | $156.00 | +63.43% | 21 qtrssince 2020-Q3 | Increased 49 |
JPMORGAN CHASE & CO | 943,631 | $297.6M | 1.4% | $115.75 | +170.20% | 27 qtrssince 2019-Q1 | Increased 50 |
ISHARES IBOXX INVESTMENT GRA | 2.2M | $242.2M | 1.2% | $106.52 | +0.81% | 22 qtrssince 2020-Q2 | Unchanged 0 |
NETFLIX INC | 170,449 | $204.4M | 1.0% | $37.52 | +221.50% | 27 qtrssince 2019-Q1 | Decreased 0 |
ELI LILLY & CO | 266,604 | $203.4M | 1.0% | $272.86 | +177.88% | 27 qtrssince 2019-Q1 | Increased 43 |
VISA INC-CLASS A SHARES | 594,223 | $202.9M | 1.0% | $172.70 | +96.11% | 27 qtrssince 2019-Q1 | Decreased 0 |
BERKSHIRE HATHAWAY INC-CL B | 344,029 | $173M | 0.8% | $220.54 | +126.37% | 27 qtrssince 2019-Q1 | Decreased 0 |
PALANTIR TECHNOLOGIES INC-A | 895,100 | $163.3M | 0.8% | $31.10 | +475.17% | 19 qtrssince 2021-Q1 | Decreased 0 |
COSTCO WHOLESALE CORP | 174,869 | $161.9M | 0.8% | $424.11 | +116.99% | 27 qtrssince 2019-Q1 | Decreased 0 |
MASTERCARD INC - A | 254,781 | $144.9M | 0.7% | $261.47 | +116.67% | 27 qtrssince 2019-Q1 | Increased 43 |
STATE OF MICHIGAN RETIREMENT SYSTEM manages $20.8B across 944 positions as of Q3 2025. Top holdings: NVDA (7.5%), MSFT (5.7%), AAPL (5.3%). Fund DNA: Steady Compounder. HoldingsIntel Rating: 3/5.0.
Active quarter - 22 new positions, 22 exits, 151 increased. Top move: MSFT (INCREASED, conviction 63). Portfolio: $20.8B across 944 positions.
Top holdings by portfolio weight
Portfolio allocation by GICS sector
Behavioral investing profile
Position Outcomes
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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