STATE OF MICHIGAN RETIREMENT SYSTEM

hedge fundUpdated 42 days ago

Managed by State Of Michigan Retirement System • Latest filing Q2 2026

Portfolio value

$22.6B

Q2 2026

Filings

14

Quarterly 13F history

Top-10 concentration

100.0%

Weight of largest holdings

Annualized return

12.9%

Implied from 13F holdings

Portfolio value history

13F-disclosed portfolio value over 14 quarters

Show data table

Period	Portfolio value
Q1 2023	$15.2B
Q2 2023	$16.2B
Q3 2023	$15.5B
Q4 2023	$16.8B
Q1 2024	$18.6B
Q2 2024	$19.5B
Q3 2024	$20.2B
Q4 2024	$19.2B
Q1 2025	$17.3B
Q2 2025	$19.3B
Q3 2025	$20.8B
Q4 2025	$20.6B
Q1 2026	$18.9B
Q2 2026	$22.6B

Top holdings

960 positions as of Q2 2026

#	Stock	Value	Shares	% Portfolio	Change
1	N NVDA NVIDIA CORPORATION	$1.4B	7.14M	6.33%	Trimmed(-1.4%)
2	A AAPL APPLE INC	$1.1B	3.83M	4.91%	Trimmed(-1.8%)
3	M MSFT MICROSOFT CORP	$755.8M	2.03M	3.35%	Trimmed(-1.5%)
4	A AMZN AMAZON COM INC	$631.1M	2.65M	2.79%	Trimmed(-2.0%)
5	A AVGO BROADCOM INC	$617.5M	1.63M	2.73%	Trimmed(-3.2%)
6	G GOOGN ALPHABET INC	$564.1M	1.58M	2.50%	Trimmed(-1.1%)
7	G GOOGN ALPHABET INC	$551.5M	1.56M	2.44%	Trimmed(-0.8%)
8	A AMD ADVANCED MICRO DEVICES INC	$459.2M	790.5K	2.03%	Added(+28.0%)
9	E ETHA ISHARES TR	$446.4M	1.30M	1.98%	Trimmed(-2.8%)
10	M MU MICRON TECHNOLOGY INC	$431.8M	374.0K	1.91%	Added(+1.8%)
11	M META META PLATFORMS INC	$429.3M	762.1K	1.90%	Trimmed(-10.3%)
12	B BLK ISHARES TR	$335.1M	3.07M	1.48%	Added(+41.4%)
13	S SPY STATE STR SPDR S P 500 ETF T	$304M	407.2K	1.35%	Added(+50.3%)
14	T TSLA TESLA INC	$303.2M	720.9K	1.34%	Trimmed(-1.9%)
15	A ADBE ADOBE INC	$276.6M	1.35M	1.22%	Added(+64.4%)
16	L LLY ELI LILLY CO	$255.4M	212.9K	1.13%	Trimmed(-1.3%)
17	J JPM-PM JPMORGAN CHASE CO	$224.6M	686.0K	0.99%	Trimmed(-2.6%)
18	H HUBS HUBSPOT INC	$217M	1.19M	0.96%	Added(+1017.4%)
19	I INTC INTEL CORP	$168.9M	1.21M	0.75%	Trimmed(-21.8%)
20	B BRK-A BERKSHIRE HATHAWAY INC DEL	$164.8M	329.3K	0.73%	Trimmed(-3.0%)

N

NVIDIA CORPORATION

-1.4%

Value

$1.4B

Shares

7.14M

% Port

6.33%

A

APPLE INC

-1.8%

Value

$1.1B

Shares

3.83M

% Port

4.91%

M

MICROSOFT CORP

-1.5%

Value

$755.8M

Shares

2.03M

% Port

3.35%

A

AMAZON COM INC

-2.0%

Value

$631.1M

Shares

2.65M

% Port

2.79%

A

BROADCOM INC

-3.2%

Value

$617.5M

Shares

1.63M

% Port

2.73%

G

ALPHABET INC

-1.1%

Value

$564.1M

Shares

1.58M

% Port

2.50%

G

ALPHABET INC

-0.8%

Value

$551.5M

Shares

1.56M

% Port

2.44%

A

ADVANCED MICRO DEVICES INC

+28.0%

Value

$459.2M

Shares

790.5K

% Port

2.03%

E

ISHARES TR

-2.8%

Value

$446.4M

Shares

1.30M

% Port

1.98%

M

10.MU

MICRON TECHNOLOGY INC

+1.8%

Value

$431.8M

Shares

374.0K

% Port

1.91%

M

META PLATFORMS INC

-10.3%

Value

$429.3M

Shares

762.1K

% Port

1.90%

B

12.BLK

ISHARES TR

+41.4%

Value

$335.1M

Shares

3.07M

% Port

1.48%

S

13.SPY

STATE STR SPDR S P 500 ETF T

+50.3%

Value

$304M

Shares

407.2K

% Port

1.35%

T

TESLA INC

-1.9%

Value

$303.2M

Shares

720.9K

% Port

1.34%

A

ADOBE INC

+64.4%

Value

$276.6M

Shares

1.35M

% Port

1.22%

L

16.LLY

ELI LILLY CO

-1.3%

Value

$255.4M

Shares

212.9K

% Port

1.13%

J

JPMORGAN CHASE CO

-2.6%

Value

$224.6M

Shares

686.0K

% Port

0.99%

H

HUBSPOT INC

+1017.4%

Value

$217M

Shares

1.19M

% Port

0.96%

I

INTEL CORP

-21.8%

Value

$168.9M

Shares

1.21M

% Port

0.75%

B

BERKSHIRE HATHAWAY INC DEL

-3.0%

Value

$164.8M

Shares

329.3K

% Port

0.73%

View full portfolio (960 holdings) →

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