STATE OF MICHIGAN RETIREMENT SYSTEM
Institutional investor · Portfolio as of Q4 2025
Top Holdings935 positions
Stock | Shares | Value | Weight | Avg Buy | Est. P&L | Held | Conviction |
|---|---|---|---|---|---|---|---|
NVIDIA CORP | 8.1M | $1.5B | 7.3% | $112.93 | +66.07% | 28 qtrssince 2019-Q1 | Decreased 0 |
APPLE INC | 4.2M | $1.1B | 5.5% | $107.82 | +151.46% | 28 qtrssince 2019-Q1 | Decreased 0 |
MICROSOFT CORP | 2.2M | $1.1B | 5.3% | $160.72 | +203.32% | 28 qtrssince 2019-Q1 | Decreased 0 |
AMAZON.COM INC | 3M | $693.2M | 3.4% | $114.90 | +102.37% | 28 qtrssince 2019-Q1 | Decreased 0 |
BROADCOM INC | 1.8M | $639.2M | 3.1% | $160.61 | +117.82% | 28 qtrssince 2019-Q1 | Decreased 0 |
ALPHABET INC-CL A | 1.9M | $602.6M | 2.9% | $95.32 | +229.26% | 28 qtrssince 2019-Q1 | Decreased 0 |
STATE STREET SPDR S&P 500 ETF TRUST CL USD INC | 879,840 | $600M | 2.9% | $388.33 | +76.92% | 28 qtrssince 2019-Q1 | Decreased 0 |
META PLATFORMS INC-CLASS A | 848,314 | $560M | 2.7% | $252.13 | +164.13% | 28 qtrssince 2019-Q1 | Decreased 0 |
ALPHABET INC-CL C | 1.6M | $492.3M | 2.4% | $106.95 | +194.10% | 28 qtrssince 2019-Q1 | Decreased 0 |
TESLA INC | 735,657 | $330.8M | 1.6% | $256.37 | +77.25% | 21 qtrssince 2020-Q4 | Decreased 0 |
ISHARES MSCI USA MOMENTUM FA | 1.3M | $322.2M | 1.6% | $160.80 | +57.21% | 22 qtrssince 2020-Q3 | Increased 51 |
JPMORGAN CHASE & CO | 912,731 | $294.1M | 1.4% | $115.75 | +178.17% | 28 qtrssince 2019-Q1 | Decreased 0 |
ELI LILLY & CO | 256,704 | $275.9M | 1.3% | $272.86 | +291.96% | 28 qtrssince 2019-Q1 | Decreased 0 |
ISHARES IBOXX INVESTMENT GRA | 2.2M | $239.4M | 1.2% | $106.52 | +1.15% | 23 qtrssince 2020-Q2 | Unchanged 0 |
VISA INC-CLASS A SHARES | 553,223 | $194M | 0.9% | $172.70 | +101.86% | 28 qtrssince 2019-Q1 | Decreased 0 |
ADVANCED MICRO DEVICES | 843,000 | $180.5M | 0.9% | $91.07 | +135.16% | 28 qtrssince 2019-Q1 | Decreased 0 |
BERKSHIRE HATHAWAY INC-CL B | 339,729 | $170.8M | 0.8% | $220.54 | +128.40% | 28 qtrssince 2019-Q1 | Decreased 0 |
PALANTIR TECHNOLOGIES INC-A | 878,000 | $156.1M | 0.8% | $31.10 | +481.54% | 20 qtrssince 2021-Q1 | Decreased 0 |
NETFLIX INC | 1.6M | $150M | 0.7% | $87.79 | +6.83% | 28 qtrssince 2019-Q1 | Increased 69 |
COSTCO WHOLESALE CORP | 169,769 | $146.4M | 0.7% | $424.11 | +102.44% | 28 qtrssince 2019-Q1 | Decreased 0 |
STATE OF MICHIGAN RETIREMENT SYSTEM manages $20.6B across 935 positions as of Q4 2025. Top holdings: NVDA (7.3%), AAPL (5.5%), MSFT (5.3%). Fund DNA: Steady Compounder. HoldingsIntel Rating: 3/5.0.
Active quarter - 19 new positions, 28 exits, 91 increased. Top move: NFLX (INCREASED, conviction 69). Portfolio: $20.6B across 935 positions.
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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