State of Michigan Retirement System
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 4, 2026), State of Michigan Retirement System reported 941 stock positions worth $18.9 billion. Its top holding was Nvidia (NVDA) at 6.7% of the portfolio, followed by Apple (AAPL, 5.2%) and Microsoft (MSFT, 4.0%). Compared with Q4 2025, it opened 21 new positions, sold out of 16, added to 396 and reduced 418. The biggest buy was Adobe (ADBE, shares +566%) and the biggest sale SS SPDR S&P 500 ETF Trust-US (SPY, shares −69%).
- Most Recent 13F
- Q2 2026
- Location
- EAST LANSING, MI
- CIK
- 0000762152
- Portfolio Value
- $18.9B (Q1 2026)
- SEC Filing
- 0000762152-26-000009 ↗ filed May 4, 2026
Holdings Value
Holdings 941 stocks · $18.9B
| NVDA Nvidia Corp. | 6.67% | 7,244,460 | $1.3B | Reduce -10.1% |
| AAPL Apple Inc. | 5.23% | 3,900,499 | $989.9M | Reduce -6.8% |
| MSFT Microsoft Corp. | 4.02% | 2,057,867 | $761.8M | Reduce -7.9% |
| AMZN Amazon.com Inc. | 2.97% | 2,703,120 | $563.0M | Reduce -10.0% |
| AVGO Broadcom Inc. | 2.76% | 1,689,060 | $522.8M | Reduce -8.5% |
| META Meta Platforms Inc. Class A | 2.57% | 849,414 | $486.0M | Add +0.1% |
| GOOGL Alphabet Inc. Class A | 2.42% | 1,596,380 | $459.1M | Reduce -17.1% |
| GOOG Alphabet Inc. Class C | 2.38% | 1,573,260 | $451.3M | Add +0.3% |
| MTUM iShares MSCI USA Momentum Fa | 1.70% | 1,340,090 | $321.6M | Add +4.1% |
| TSLA Tesla Inc. | 1.44% | 734,657 | $273.1M | Reduce -0.1% |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | 1.25% | 2,172,400 | $236.8M | No change |
| JPM JPMorgan Chase & Co. | 1.09% | 704,331 | $207.2M | Reduce -22.8% |
| ADBE Adobe Inc. | 1.05% | 820,823 | $199.5M | Add +566.1% |
| LLY Eli Lilly & Co. | 1.05% | 215,804 | $198.5M | Reduce -15.9% |
| XOM Exxon Mobil Corp. | 0.98% | 1,091,718 | $185.2M | Reduce -1.1% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.93% | 270,940 | $176.2M | Reduce -69.2% |
| KR Kroger Co. | 0.87% | 2,285,087 | $165.3M | Add +64.1% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.86% | 339,629 | $162.8M | Reduce -0.0% |
| JNJ Johnson & Johnson | 0.84% | 653,167 | $159.7M | Reduce -0.2% |
| WMT Walmart Inc. | 0.77% | 1,171,520 | $145.6M | Reduce -0.3% |
| V Visa Inc. Class A | 0.74% | 465,623 | $140.7M | Reduce -15.8% |
| PLTR Palantir Technologies Inc. Class A | 0.68% | 876,700 | $128.2M | Reduce -0.1% |
| AMD Advanced Micro Devices | 0.66% | 617,700 | $125.7M | Reduce -26.7% |
| MU Micron Technology Inc. | 0.66% | 367,342 | $124.1M | Add +0.1% |
| MA Mastercard Inc. Class A | 0.63% | 239,681 | $119.8M | Reduce -0.8% |
| COST Costco Wholesale Corp. | 0.63% | 119,669 | $119.2M | Reduce -29.5% |
| DUOL Duolingo | 0.62% | 1,193,307 | $117.6M | Add +112.9% |
| NFLX Netflix Inc. | 0.59% | 1,163,190 | $111.8M | Reduce -27.3% |
| CVX Chevron Corp. | 0.54% | 489,639 | $101.3M | Reduce -1.2% |
| ABBV Abbvie Inc. | 0.53% | 461,708 | $100.4M | Reduce -0.2% |
| VRT Vertiv Holdings Co. Class A | 0.52% | 395,600 | $99.1M | Add +65.3% |
| CSCO Cisco Systems Inc. | 0.50% | 1,223,362 | $94.9M | Add +0.0% |
| CHTR Charter Communications Inc. Class A | 0.49% | 431,582 | $93.2M | Add +1547.5% |
| CAT Caterpillar Inc. | 0.48% | 129,572 | $91.8M | Reduce -0.7% |
| PG The Procter & Gamble Co. | 0.48% | 625,037 | $90.3M | Reduce -0.7% |
| KBDC Kayne Anderson BDC Inc. | 0.48% | 6,566,762 | $90.1M | No change |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.48% | 1,848,012 | $90.1M | Reduce -1.4% |
| TDG Transdigm Group Inc. | 0.46% | 75,792 | $87.8M | No change |
| AMAT Applied Materials Inc. | 0.46% | 255,055 | $87.2M | Reduce -0.5% |
| MRK Merck & Co. Inc. | 0.46% | 723,090 | $87.0M | Reduce -0.2% |
| HD Home Depot Inc. | 0.45% | 260,084 | $85.5M | Reduce -0.2% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.44% | 116 | $83.3M | No change |
| KO The Coca-Cola Co. | 0.42% | 1,038,148 | $79.0M | Reduce -0.2% |
| GE General Electric filed as GE AEROSPACE | 0.41% | 273,961 | $77.7M | Reduce -0.8% |
| LRCX Lam Research Corp. | 0.41% | 361,600 | $77.3M | Reduce -0.7% |
| IJH iShares Core S&P Midcap ETF | 0.40% | 1,131,710 | $76.4M | Add +9.4% |
| UNH Unitedhealth Group Inc. | 0.40% | 281,419 | $76.1M | Add +14.9% |
| INTC Intel Corp. | 0.36% | 1,546,983 | $68.3M | Add +3.5% |
| WFC Wells Fargo & Co. | 0.36% | 852,149 | $67.8M | Reduce -1.6% |
| RTX RTX Corp. | 0.36% | 350,600 | $67.6M | Reduce -0.1% |
| PM Philip Morris International | 0.36% | 406,658 | $67.2M | Reduce -0.2% |
| GS Goldman Sachs Group Inc. | 0.35% | 78,367 | $66.3M | Reduce -0.3% |
| ANET Arista Networks Inc. | 0.35% | 535,956 | $65.8M | Reduce -0.1% |
| ORCL Oracle Corp. | 0.34% | 442,932 | $65.2M | Add +0.6% |
| VZ Verizon Communications Inc. | 0.34% | 1,281,850 | $64.3M | Reduce -0.2% |
| LIN Linde PLC | 0.33% | 126,904 | $62.9M | Reduce -0.2% |
| QUAL iShares MSCI USA Quality Fac | 0.33% | 324,549 | $62.3M | Add +32.4% |
| T AT&T Inc. | 0.33% | 2,143,713 | $62.1M | Reduce -1.3% |
| GEV GE Vernova Inc. | 0.32% | 70,440 | $61.5M | Reduce -0.8% |
| CI The Cigna Group | 0.32% | 228,141 | $60.9M | Reduce -0.5% |
| XLV SS Health Care Select Sector | 0.31% | 404,788 | $59.3M | Add +11.2% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.31% | 244,140 | $59.2M | Reduce -0.3% |
| MCD McDonald's Corp. | 0.31% | 186,015 | $57.8M | Reduce -0.2% |
| C Citigroup Inc. | 0.30% | 505,936 | $57.4M | Reduce -2.3% |
| KLAC KLA Corp. | 0.30% | 38,768 | $57.1M | Reduce -0.3% |
| MBB iShares MBS ETF | 0.30% | 600,000 | $57.0M | No change |
| PEP Pepsico Inc. | 0.30% | 365,122 | $56.7M | Reduce -0.3% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.29% | 347,682 | $55.5M | Reduce -0.4% |
| FDS Factset Research Systems Inc. | 0.28% | 244,523 | $53.1M | Add +523.2% |
| MS Morgan Stanley | 0.27% | 314,326 | $51.7M | Reduce -0.6% |
| NEE Nextera Energy Inc. | 0.27% | 543,998 | $50.5M | Reduce -0.2% |
| AMGN Amgen Inc. | 0.26% | 140,697 | $49.5M | Reduce -0.2% |
| HIMS Hims & Hers Health Inc. | 0.26% | 2,338,600 | $48.5M | Add +13.7% |
| ABT Abbott Laboratories | 0.26% | 471,457 | $48.4M | Reduce -0.2% |
| TMO Thermo Fisher Scientific Inc. | 0.25% | 98,110 | $48.2M | Reduce -0.3% |
| ISRG Intuitive Surgical Inc. | 0.25% | 104,153 | $48.0M | Reduce -50.3% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.25% | 496,766 | $47.9M | Reduce -0.9% |
| PFE Pfizer Inc. | 0.25% | 1,666,884 | $46.8M | Reduce -0.2% |
| APH Amphenol Corp. Class A | 0.25% | 369,674 | $46.7M | Reduce -4.5% |
| TXN Texas Instruments Inc. | 0.24% | 237,061 | $46.0M | Reduce -0.3% |
| CRM Salesforce Inc. | 0.24% | 244,743 | $45.7M | Reduce -1.8% |
| GILD Gilead Sciences Inc. | 0.24% | 324,095 | $45.2M | Reduce -0.2% |
| TSM Taiwan Semiconductor-SP ADR | 0.24% | 132,200 | $44.7M | Reduce -10.8% |
| QCOM Qualcomm Inc. | 0.23% | 333,766 | $43.0M | Reduce -0.5% |
| AXP American Express Co. | 0.22% | 139,877 | $42.3M | Reduce -0.6% |
| COP Conocophillips | 0.22% | 320,028 | $42.2M | Reduce -1.1% |
| SCHW Schwab (charles) Corp. | 0.22% | 436,366 | $41.0M | Reduce -0.2% |
| BA The Boeing Co. | 0.22% | 205,196 | $40.8M | Add +0.1% |
| ADI Analog Devices Inc. | 0.21% | 127,655 | $40.6M | Reduce -0.8% |
| VLUE iShares MSCI USA Value Facto | 0.21% | 279,800 | $39.8M | Reduce -37.5% |
| UBER Uber Technologies Inc. | 0.20% | 537,600 | $38.7M | Reduce -1.2% |
| BLK BlackRock Inc. | 0.20% | 39,171 | $37.7M | Reduce -0.3% |
| UNP Union Pacific Corp. | 0.20% | 155,045 | $37.6M | Reduce -0.1% |
| HON Honeywell International Inc. | 0.20% | 165,815 | $37.5M | Reduce -0.2% |
| DE Deere & Co. | 0.20% | 65,857 | $37.1M | No change |
| ACN Accenture PLC Class A | 0.19% | 185,738 | $36.8M | Reduce -0.8% |
| ICE Intercontinental Exchange Inc. | 0.19% | 231,942 | $36.5M | Reduce -0.4% |
| ETN Eaton Corp. PLC | 0.19% | 101,456 | $36.3M | Reduce -0.2% |
| WELL Welltower Inc. | 0.19% | 182,309 | $36.0M | Add +1.4% |
| BMY Bristol-Myers Squibb Co. | 0.19% | 589,933 | $35.8M | Reduce -0.2% |
Portfolio Sells Q4 2025 → Q1 2026
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -69.2% | 0.93% | −1.99 |
| MSFT Microsoft Corp. | Reduce -7.9% | 4.02% | −1.23 |
| NVDA Nvidia Corp. | Reduce -10.1% | 6.67% | −0.64 |
| GOOGL Alphabet Inc. Class A | Reduce -17.1% | 2.42% | −0.51 |
| AMZN Amazon.com Inc. | Reduce -10.0% | 2.97% | −0.40 |
| AVGO Broadcom Inc. | Reduce -8.5% | 2.76% | −0.35 |
| JPM JPMorgan Chase & Co. | Reduce -22.8% | 1.09% | −0.34 |
| ISRG Intuitive Surgical Inc. | Reduce -50.3% | 0.25% | −0.32 |
| AAPL Apple Inc. | Reduce -6.8% | 5.23% | −0.30 |
| LLY Eli Lilly & Co. | Reduce -15.9% | 1.05% | −0.29 |
| AMD Advanced Micro Devices | Reduce -26.7% | 0.66% | −0.21 |
| V Visa Inc. Class A | Reduce -15.8% | 0.74% | −0.20 |
| TSLA Tesla Inc. | Reduce -0.1% | 1.44% | −0.17 |
| NFLX Netflix Inc. | Reduce -27.3% | 0.59% | −0.14 |
| APP AppLovin Corp. Class A | Reduce -0.1% | 0.16% | −0.09 |
| VLUE iShares MSCI USA Value Facto | Reduce -37.5% | 0.21% | −0.09 |
| COST Costco Wholesale Corp. | Reduce -29.5% | 0.63% | −0.08 |
| PLTR Palantir Technologies Inc. Class A | Reduce -0.1% | 0.68% | −0.08 |
| CRM Salesforce Inc. | Reduce -1.8% | 0.24% | −0.08 |
| INTU Intuit Inc. | Reduce -0.4% | 0.17% | −0.07 |
| TMDX Transmedics Group Inc. | Sold out | 0.00% | −0.06 |
| QCOM Qualcomm Inc. | Reduce -0.5% | 0.23% | −0.05 |
| BSX Boston Scientific Corp. | Reduce -0.2% | 0.13% | −0.05 |
| ACN Accenture PLC Class A | Reduce -0.8% | 0.19% | −0.05 |
| COF Capital One Financial Corp. | Reduce -1.8% | 0.17% | −0.04 |
| IBM Intl Business Machines Corp. | Reduce -0.3% | 0.31% | −0.04 |
| MA Mastercard Inc. Class A | Reduce -0.8% | 0.63% | −0.04 |
| BABA Alibaba Group Holding-SP ADR | Reduce -12.9% | 0.15% | −0.03 |
| WFC Wells Fargo & Co. | Reduce -1.6% | 0.36% | −0.03 |
| ABT Abbott Laboratories | Reduce -0.2% | 0.26% | −0.03 |
| DASH DoorDash Inc. Class A | Reduce -0.2% | 0.08% | −0.03 |
| AXP American Express Co. | Reduce -0.6% | 0.22% | −0.03 |
| SHOP Shopify Inc. Class A | Reduce -14.8% | 0.06% | −0.03 |
| SPGI S&P Global Inc. | Reduce -1.4% | 0.19% | −0.03 |
| BAC Bank of America Corp. | Reduce -1.4% | 0.48% | −0.03 |
| DIS The Walt Disney Co. | Reduce -0.9% | 0.25% | −0.02 |
| KKR KKR & Co. Inc. | Reduce -0.2% | 0.09% | −0.02 |
| TMO Thermo Fisher Scientific Inc. | Reduce -0.3% | 0.25% | −0.02 |
| ADP Automatic Data Processing | Reduce -0.6% | 0.13% | −0.02 |
| WDAY Workday Inc. Class A | Reduce -2.1% | 0.04% | −0.02 |
| CEG Constellation Energy | Reduce -0.5% | 0.12% | −0.02 |
| DHR Danaher Corp. | Reduce -0.1% | 0.16% | −0.02 |
| CVNA Carvana Co. | Reduce -0.3% | 0.06% | −0.01 |
| NKE Nike Inc. Class B | Reduce -0.0% | 0.13% | −0.01 |
| APO Apollo Global Management Inc. | Reduce -0.3% | 0.07% | −0.01 |
| DAY Dayforce Inc. | Sold out | 0.00% | −0.01 |
| CSGP Costar Group Inc. | Reduce -0.3% | 0.02% | −0.01 |
| CTSH Cognizant Tech Solutions-A | Reduce -0.9% | 0.05% | −0.01 |
| CMA Comerica Inc. | Sold out | 0.00% | −0.01 |
| PYPL PayPal Holdings Inc. | Reduce -1.8% | 0.06% | −0.01 |
Portfolio Buys Q4 2025 → Q1 2026
| ADBE Adobe Inc. | Add +566.1% | 1.05% | +0.84 |
| CHTR Charter Communications Inc. Class A | Add +1547.5% | 0.49% | +0.47 |
| KR Kroger Co. | Add +64.1% | 0.87% | +0.45 |
| VRT Vertiv Holdings Co. Class A | Add +65.3% | 0.52% | +0.34 |
| FDS Factset Research Systems Inc. | Add +523.2% | 0.28% | +0.22 |
| MOH Molina Healthcare Inc. | Add +1568.0% | 0.16% | +0.15 |
| MU Micron Technology Inc. | Add +0.1% | 0.66% | +0.15 |
| SPOT Spotify Technology SA | New | 0.14% | +0.14 |
| DUOL Duolingo | Add +112.9% | 0.62% | +0.14 |
| MTUM iShares MSCI USA Momentum Fa | Add +4.1% | 1.70% | +0.13 |
| RCL Royal Caribbean Cruises Ltd. | New | 0.10% | +0.10 |
| INTC Intel Corp. | Add +3.5% | 0.36% | +0.09 |
| QUAL iShares MSCI USA Quality Fac | Add +32.4% | 0.33% | +0.09 |
| SNDK Sandisk Corp. | Add +6.0% | 0.13% | +0.09 |
| NXPI NXP Semiconductors NV | New | 0.08% | +0.08 |
| IJH iShares Core S&P Midcap ETF | Add +9.4% | 0.40% | +0.07 |
| CSCO Cisco Systems Inc. | Add +0.0% | 0.50% | +0.04 |
| LITE Lumentum Holdings Inc. | Add +11.8% | 0.07% | +0.04 |
| XLV SS Health Care Select Sector | Add +11.2% | 0.31% | +0.04 |
| CIEN Ciena Corp. | Add +10.5% | 0.08% | +0.04 |
| FLEX Flex Ltd. | New | 0.03% | +0.03 |
| LYB Lyondellbasell Indu Class A | New | 0.03% | +0.03 |
| COHR Coherent Corp. | Add +32.0% | 0.06% | +0.03 |
| WELL Welltower Inc. | Add +1.4% | 0.19% | +0.03 |
| BURL Burlington Stores Inc. | Add +0.3% | 0.15% | +0.03 |
| FANG Diamondback Energy Inc. | Add +2.9% | 0.07% | +0.02 |
| SSYS Stratasys Ltd. | New | 0.02% | +0.02 |
| DOW Dow Inc. | Add +0.7% | 0.04% | +0.02 |
| MPWR Monolithic Power Systems Inc. | Add +1.4% | 0.08% | +0.02 |
| AEP American Electric Power | Add +0.8% | 0.10% | +0.02 |
| FITB Fifth Third Bancorp | Add +33.7% | 0.06% | +0.02 |
| PANW Palo Alto Networks Inc. | Add +17.9% | 0.18% | +0.02 |
| ETR Entergy Corp. | Add +1.1% | 0.07% | +0.02 |
| PNFP Pinnacle Financial Partners | New | 0.02% | +0.02 |
| AEIS Advanced Energy Industries | New | 0.02% | +0.02 |
| SOLS Solstice Adv Materials Inc. | New | 0.02% | +0.02 |
| CNH CNH Industrial NV | New | 0.02% | +0.02 |
| FTI Technipfmc PLC | Add +1.8% | 0.04% | +0.01 |
| EXC Exelon Corp. | Add +0.9% | 0.07% | +0.01 |
| TTMI TTM Technologies | New | 0.01% | +0.01 |
| PNC PNC Financial Services Group | Add +2.6% | 0.12% | +0.01 |
| WAT Waters Corp. | Add +65.0% | 0.04% | +0.01 |
| ARWR Arrowhead Pharmaceuticals Inc. | New | 0.01% | +0.01 |
| ATO Atmos Energy Corp. | Add +2.0% | 0.06% | +0.01 |
| CASY Casey's General Stores Inc. | Add +1.1% | 0.03% | +0.01 |
| AHR American Healthcare REIT Inc. | New | 0.01% | +0.01 |
| XPO Xpo Inc. | Add +1.4% | 0.03% | +0.01 |
| MOG.A Moog Inc. Class A | New | 0.01% | +0.01 |
| CTRE Caretrust REIT Inc. | New | 0.01% | +0.01 |
| IDCC Interdigital Inc. | New | 0.01% | +0.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 960 | $22.6B | NVDA, AAPL, MSFT, AMZN, AVGO |
| Q1 2026 | 941 | $18.9B | NVDA, AAPL, MSFT, AMZN, AVGO |
| Q4 2025 | 935 | $20.6B | NVDA, AAPL, MSFT, AMZN, AVGO |
| Q3 2025 | 944 | $20.8B | NVDA, MSFT, AAPL, SPY, AMZN |
| Q2 2025 | 944 | $19.3B | NVDA, MSFT, AAPL, SPY, AMZN |
| Q1 2025 | 944 | $17.3B | AAPL, NVDA, MSFT, SPY, AMZN |
| Q4 2024 | 951 | $19.2B | SPY, NVDA, AAPL, MSFT, AMZN |
| Q3 2024 | 950 | $20.2B | SPY, NVDA, MSFT, AAPL, AMZN |
| Q2 2024 | 950 | $19.5B | SPY, MSFT, NVDA, AAPL, AMZN |
| Q1 2024 | 955 | $18.6B | SPY, MSFT, NVDA, AAPL, AMZN |