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STATE OF MICHIGAN RETIREMENT SYSTEM
MICHIGAN DEPT. OF TREASURY BUREAU OF INVESTMENTS PO BOX 30117, LANSING, MI 48909 • 517-335-5401
Market Value
$19.3B
+11.4%
Holdings
941
-11
New Purchases
7
Added To
462
Closed
6
Reduced
321
Top 10 Concentration
35.8%
Turnover
1.4%
Top Buys (by % of Portfolio)
| Symbol | Cur % | Prior % | Chg % | Value |
|---|---|---|---|---|
| NVDA | 6.92% | 5.29% | +1.63% | $1.3B |
| MSFT | 5.83% | 4.90% | +0.93% | $1.1B |
| AVGO | 2.73% | 1.84% | +0.89% | $527M |
| META | 3.31% | 2.90% | +0.41% | $638M |
| NFLX | 1.19% | 0.92% | +0.27% | $229M |
| HIMS | 0.36% | 0.13% | +0.23% | $69M |
| PLTR | 0.66% | 0.45% | +0.21% | $128M |
| BIIB | 0.19% | 0.03% | +0.16% | $37M |
| AMD | 0.63% | 0.48% | +0.15% | $122M |
| ORCL | 0.50% | 0.36% | +0.15% | $97M |
| AMZN | 3.58% | 3.44% | +0.13% | $689M |
| TSLA | 1.26% | 1.14% | +0.12% | $242M |
| JPM | 1.39% | 1.28% | +0.11% | $268M |
| SPY | 3.90% | 3.78% | +0.11% | $751M |
| COIN | 0.10% | 0.00% | +0.10% | $20M |
Top Sells (by % of Portfolio)
| Symbol | Cur % | Prior % | Chg % | Value |
|---|---|---|---|---|
| AAPL | 4.67% | 5.67% | -1.00% | $899M |
| RITM-PD | 0.02% | 0.42% | -0.40% | $4M |
| NEE | 0.20% | 0.58% | -0.38% | $39M |
| UNH | 0.42% | 0.79% | -0.37% | $80M |
| SQ | 0.05% | 0.24% | -0.19% | $10M |
| BRK-B | 0.87% | 1.06% | -0.19% | $168M |
| LLY | 1.07% | 1.26% | -0.19% | $207M |
| XOM | 0.66% | 0.81% | -0.16% | $126M |
| LQD | 1.24% | 1.36% | -0.13% | $238M |
| ABBV | 0.46% | 0.58% | -0.12% | $89M |
| JNJ | 0.54% | 0.65% | -0.11% | $104M |
| CVX | 0.33% | 0.44% | -0.11% | $63M |
| PG | 0.55% | 0.65% | -0.10% | $105M |
| V | 1.11% | 1.20% | -0.10% | $213M |
| BRK-A | 0.44% | 0.54% | -0.10% | $85M |
Sector Allocation Over Time
Industry Breakdown
| Industry | Weight |
|---|---|
| Technology | 31.7% |
| Financial Services | 17.1% |
| Communication Services | 10.4% |
| Consumer Cyclical | 8.9% |
| Healthcare | 8.6% |
Market Cap Concentration
| Tier | Holdings | Value | Weight |
|---|---|---|---|
| Mega Cap | 59 | $11.1B | 57.7% |
| Large Cap | 566 | $7.5B | 39.2% |
| Mid Cap | 298 | $579M | 3.0% |
| Small Cap | 18 | $25M | 0.1% |
Portfolio Analytics
Avg Market Cap
$86.2B
Median Market Cap
$16.5B
Avg P/E
32.8
Median P/E
22.8
Avg Dividend Yield
0.02%
Avg Beta
1.00
# Stocks
931
# ETFs / Funds
10
Top Holdings (941 total)
| # | Symbol | % Port | Shares | Value | Avg Price | Q/Q Value Chg | Share Chg | Chg % | Status |
|---|---|---|---|---|---|---|---|---|---|
| 1 | NVDA | 6.92% | 8,440,160 | $1.3B | $157.99 | $418M | -5,400 | -0.1% | |
| 2 | MSFT | 5.83% | 2,258,967 | $1.1B | $497.41 | $276M | +1,100 | +0.1% | |
| 3 | AAPL | 4.67% | 4,383,099 | $899M | $205.17 | -$82M | -32,500 | -0.7% | |
| 4 | SPY | 3.90% | 1,215,240 | $751M | $617.85 | $97M | +45,700 | +3.9% | |
| 5 | AMZN | 3.58% | 3,142,020 | $689M | $219.39 | $94M | +10,400 | +0.3% | |
| 6 | META | 3.31% | 864,814 | $638M | $738.09 | $136M | -6,400 | -0.7% | |
| 7 | AVGO | 2.73% | 1,911,560 | $527M | $275.65 | $208M | +7,000 | +0.4% | |
| 8 | GOOGL | 1.84% | 2,011,280 | $354M | $176.23 | $43M | -100 | — | |
| 9 | MTUM | 1.50% | 1,206,090 | $290M | $240.32 | $28M | -89,000 | -6.9% | |
| 10 | GOOG | 1.48% | 1,608,660 | $285M | $177.39 | $43M | +60,500 | +3.9% | |
| 11 | JPM | 1.39% | 925,631 | $268M | $289.91 | $47M | +24,100 | +2.7% | |
| 12 | TSLA | 1.26% | 761,957 | $242M | $317.66 | $45M | +2,800 | +0.4% | |
| 13 | LQD | 1.24% | 2,172,400 | $238M | $109.61 | $2M | — | — | |
| 14 | NFLX | 1.19% | 171,249 | $229M | $1,339.13 | $70M | — | — | |
| 15 | V | 1.11% | 600,023 | $213M | $355.05 | $5M | +6,100 | +1.0% | |
| 16 | LLY | 1.07% | 265,504 | $207M | $779.53 | -$11M | +1,700 | +0.6% | |
| 17 | COST | 0.90% | 175,569 | $174M | $989.94 | $8M | +300 | +0.2% | |
| 18 | BRK-B | 0.87% | 346,529 | $168M | $485.77 | -$16M | +1,200 | +0.3% | |
| 19 | MA | 0.73% | 252,081 | $142M | $561.94 | $1M | -3,700 | -1.4% | |
| 20 | PLTR | 0.66% | 938,400 | $128M | $136.32 | $50M | +12,300 | +1.3% | |
| 21 | XOM | 0.66% | 1,171,918 | $126M | $107.80 | -$14M | -9,000 | -0.8% | |
| 22 | AMD | 0.63% | 857,600 | $122M | $141.90 | $39M | +54,560 | +6.8% | |
| 23 | HD | 0.63% | 330,284 | $121M | $366.64 | $11M | +30,800 | +10.3% | |
| 24 | TDG | 0.60% | 76,292 | $116M | $1,520.64 | $11M | +100 | +0.1% | |
| 25 | WMT | 0.60% | 1,174,820 | $115M | $97.78 | $12M | -2,000 | -0.2% | |
| 26 | ISRG | 0.57% | 201,953 | $110M | $543.41 | $10M | +700 | +0.3% | |
| 27 | PG | 0.55% | 661,137 | $105M | $159.32 | -$7M | +2,400 | +0.4% | |
| 28 | JNJ | 0.54% | 680,867 | $104M | $152.75 | -$9M | +1,800 | +0.3% | |
| 29 | ORCL | 0.50% | 442,232 | $97M | $218.63 | $35M | +2,100 | +0.5% | |
| 30 | CSCO | 0.47% | 1,310,962 | $91M | $69.38 | $10M | -100 | -0.0% | |
| 31 | BAC | 0.47% | 1,902,212 | $90M | $47.32 | $10M | -6,800 | -0.4% | |
| 32 | ABBV | 0.46% | 480,308 | $89M | $185.62 | -$11M | +1,400 | +0.3% | |
| 33 | BRK-A | 0.44% | 116 | $85M | $728,800.00 | -$8M | — | — | |
| 34 | IJH | 0.43% | 1,351,510 | $84M | $62.02 | $4M | -10,200 | -0.8% | |
| 35 | UNH | 0.42% | 256,819 | $80M | $311.97 | -$56M | -2,900 | -1.1% | |
| 36 | PM | 0.40% | 423,258 | $77M | $182.13 | $10M | +1,500 | +0.4% | |
| 37 | KO | 0.40% | 1,087,348 | $77M | $70.75 | -$1M | -4,100 | -0.4% | |
| 38 | VZ | 0.40% | 1,773,550 | $77M | $43.27 | $18M | +476,600 | +36.8% | |
| 39 | CI | 0.40% | 230,641 | $76M | $330.58 | -$919K | -3,900 | -1.7% | |
| 40 | GE | 0.39% | 289,961 | $75M | $257.39 | $16M | -1,200 | -0.4% | |
| 41 | WFC | 0.39% | 930,449 | $75M | $80.12 | $7M | -14,900 | -1.6% | |
| 42 | IBM | 0.39% | 252,740 | $75M | $294.78 | $2M | -38,246 | -13.1% | |
| 43 | CRM | 0.37% | 260,943 | $71M | $272.69 | $1M | +1,300 | +0.5% | |
| 44 | HIMS | 0.36% | 1,379,100 | $69M | $49.85 | $47M | +633,300 | +84.9% | |
| 45 | ABT | 0.33% | 473,057 | $64M | $136.01 | $2M | +2,500 | +0.5% | |
| 46 | T | 0.33% | 2,220,713 | $64M | $28.94 | -$3M | -144,400 | -6.1% | |
| 47 | VLUE | 0.33% | 566,800 | $64M | $113.21 | $17M | +120,900 | +27.1% | |
| 48 | CVX | 0.33% | 441,615 | $63M | $143.19 | -$13M | -11,800 | -2.6% | |
| 49 | DIS | 0.33% | 506,366 | $63M | $124.01 | $14M | +15,900 | +3.2% | |
| 50 | LIN | 0.32% | 132,904 | $62M | $469.18 | -$135K | -1,300 | -1.0% | |
| 51 | GS | 0.32% | 87,573 | $62M | $707.75 | $13M | -1,800 | -2.0% | |
| 52 | INTU | 0.31% | 75,990 | $60M | $787.63 | $13M | +100 | +0.1% | |
| 53 | HUBS | 0.31% | 106,400 | $59M | $556.63 | -$2M | — | — | |
| 54 | MRK | 0.31% | 745,090 | $59M | $79.16 | -$6M | +25,800 | +3.6% | |
| 55 | NOW | 0.30% | 56,255 | $58M | $1,028.08 | $13M | +400 | +0.7% | |
| 56 | RTX | 0.30% | 392,232 | $57M | $146.02 | $5M | +700 | +0.2% | |
| 57 | MCD | 0.29% | 194,415 | $57M | $292.17 | -$4M | — | — | |
| 58 | MBB | 0.29% | 600,000 | $56M | $93.89 | $66K | — | — | |
| 59 | ANET | 0.29% | 544,156 | $56M | $102.31 | $14M | +1,200 | +0.2% | |
| 60 | ACN | 0.28% | 182,738 | $55M | $298.89 | -$2M | +500 | +0.3% | |
| 61 | QCOM | 0.28% | 340,166 | $54M | $159.26 | $5M | +21,200 | +6.7% | |
| 62 | UBER | 0.28% | 568,600 | $53M | $93.30 | $12M | +1,900 | +0.3% | |
| 63 | CAT | 0.27% | 135,072 | $52M | $388.21 | $7M | -2,600 | -1.9% | |
| 64 | TXN | 0.27% | 247,061 | $51M | $207.62 | $4M | -15,404 | -5.9% | |
| 65 | BKNG | 0.27% | 8,859 | $51M | $5,789.24 | $10M | -100 | -1.1% | |
| 66 | PEP | 0.26% | 385,822 | $51M | $132.04 | -$7M | +2,100 | +0.6% | |
| 67 | AMAT | 0.26% | 273,355 | $50M | $183.07 | $11M | +1,800 | +0.7% | |
| 68 | ADBE | 0.26% | 127,723 | $49M | $386.88 | $313K | -300 | -0.2% | |
| 69 | XLV | 0.25% | 360,588 | $49M | $134.79 | $5M | +64,600 | +21.8% | |
| 70 | AXP | 0.25% | 150,477 | $48M | $318.98 | $7M | -100 | -0.1% | |
| 71 | C | 0.25% | 563,236 | $48M | $85.12 | $8M | -5,100 | -0.9% | |
| 72 | MS | 0.25% | 335,926 | $47M | $140.86 | $8M | +200 | +0.1% | |
| 73 | SPOT | 0.24% | 60,031 | $46M | $767.34 | $13M | — | — | |
| 74 | MU | 0.24% | 371,442 | $46M | $123.25 | $16M | +33,700 | +10.0% | |
| 75 | SPGI | 0.23% | 85,353 | $45M | $527.29 | $2M | -100 | -0.1% | |
| 76 | BURL | 0.23% | 190,200 | $44M | $232.64 | -$9M | -34,900 | -15.5% | |
| 77 | ICE | 0.23% | 239,542 | $44M | $183.47 | $3M | +100 | +0.0% | |
| 78 | BLK | 0.23% | 41,671 | $44M | $1,049.25 | $4M | -100 | -0.2% | |
| 79 | BSX | 0.22% | 402,308 | $43M | $107.41 | $3M | +2,500 | +0.6% | |
| 80 | TJX | 0.22% | 349,882 | $43M | $123.49 | $530K | -500 | -0.1% | |
| 81 | BA | 0.22% | 204,996 | $43M | $209.53 | $8M | +1,500 | +0.7% | |
| 82 | PGR | 0.22% | 159,388 | $43M | $266.86 | -$2M | +500 | +0.3% | |
| 83 | SCHW | 0.22% | 464,366 | $42M | $91.24 | $6M | +2,100 | +0.5% | |
| 84 | PFE | 0.22% | 1,716,984 | $42M | $24.24 | -$2M | -8,500 | -0.5% | |
| 85 | TMO | 0.22% | 102,610 | $42M | $405.46 | -$10M | -1,200 | -1.2% | |
| 86 | APH | 0.21% | 414,274 | $41M | $98.75 | $12M | -19,300 | -4.5% | |
| 87 | AMGN | 0.21% | 146,197 | $41M | $279.21 | -$5M | +500 | +0.3% | |
| 88 | HON | 0.21% | 174,715 | $41M | $232.88 | $3M | -1,700 | -1.0% | |
| 89 | QUAL | 0.21% | 220,349 | $40M | $182.82 | $13M | +62,599 | +39.7% | |
| 90 | CMCSA | 0.21% | 1,110,089 | $40M | $35.69 | -$731K | +16,600 | +1.5% | |
| 91 | GEV | 0.20% | 74,240 | $39M | $529.15 | $16M | -600 | -0.8% | |
| 92 | COF | 0.20% | 182,664 | $39M | $212.76 | $19M | +72,108 | +65.2% | |
| 93 | NEE | 0.20% | 559,798 | $39M | $69.42 | -$61M | -851,100 | -60.3% | |
| 94 | ADP | 0.20% | 123,803 | $38M | $308.40 | $203K | -500 | -0.4% | |
| 95 | GEHC | 0.20% | 514,553 | $38M | $74.07 | -$3M | +500 | +0.1% | |
| 96 | ETN | 0.20% | 106,356 | $38M | $356.99 | $9M | -900 | -0.8% | |
| 97 | GILD | 0.19% | 338,195 | $37M | $110.87 | -$388K | +100 | +0.0% | |
| 98 | UNP | 0.19% | 162,445 | $37M | $230.08 | -$1M | -1,500 | -0.9% | |
| 99 | SYK | 0.19% | 93,499 | $37M | $395.63 | $2M | +300 | +0.3% | |
| 100 | PANW | 0.19% | 180,000 | $37M | $204.64 | $6M | +400 | +0.2% |