Pension
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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
$20.8B
+7.7%
Holdings
956
+15
New Purchases
21
Added To
147
Closed
21
Reduced
699
Top 10 Concentration
37.7%
Turnover
4.4%
Top Buys (by % of Portfolio)
| Symbol | Cur % | Prior % | Chg % | Value |
|---|---|---|---|---|
| AAPL | 5.32% | 4.67% | +0.65% | $1.1B |
| NVDA | 7.51% | 6.92% | +0.59% | $1.6B |
| GOOGL | 2.34% | 1.84% | +0.50% | $487M |
| GOOG | 1.87% | 1.48% | +0.39% | $388M |
| TSLA | 1.63% | 1.26% | +0.37% | $338M |
| AVGO | 3.03% | 2.73% | +0.29% | $628M |
| APP | 0.27% | 0.01% | +0.26% | $56M |
| HIMS | 0.56% | 0.36% | +0.21% | $117M |
| HOOD | 0.14% | 0.00% | +0.14% | $30M |
| OSCR | 0.13% | 0.00% | +0.13% | $27M |
| PLTR | 0.79% | 0.66% | +0.12% | $163M |
| ORCL | 0.61% | 0.50% | +0.11% | $126M |
| ANET | 0.38% | 0.29% | +0.09% | $79M |
| KR | 0.19% | 0.11% | +0.08% | $40M |
| EWZ | 0.08% | 0.00% | +0.08% | $17M |
Top Sells (by % of Portfolio)
| Symbol | Cur % | Prior % | Chg % | Value |
|---|---|---|---|---|
| AMZN | 3.26% | 3.58% | -0.32% | $676M |
| META | 3.04% | 3.31% | -0.27% | $632M |
| NFLX | 0.98% | 1.19% | -0.21% | $204M |
| BIIB | 0.03% | 0.19% | -0.16% | $6M |
| GEHC | 0.04% | 0.20% | -0.15% | $9M |
| VZ | 0.27% | 0.40% | -0.13% | $56M |
| V | 0.98% | 1.11% | -0.13% | $203M |
| BURL | 0.10% | 0.23% | -0.13% | $22M |
| COST | 0.78% | 0.90% | -0.12% | $162M |
| TDG | 0.48% | 0.60% | -0.12% | $100M |
| ISRG | 0.46% | 0.57% | -0.11% | $95M |
| ARM | 0.00% | 0.11% | -0.11% | $0 |
| MSFT | 5.73% | 5.83% | -0.10% | $1.2B |
| LLY | 0.98% | 1.07% | -0.09% | $203M |
| CI | 0.32% | 0.40% | -0.08% | $66M |
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 | $12.4B | 59.5% |
| Large Cap | 580 | $7.7B | 37.2% |
| Mid Cap | 299 | $658M | 3.2% |
| Small Cap | 18 | $24M | 0.1% |
Portfolio Analytics
Avg Market Cap
$85.3B
Median Market Cap
$16.4B
Avg P/E
33.1
Median P/E
22.8
Avg Dividend Yield
0.02%
Avg Beta
1.00
# Stocks
945
# ETFs / Funds
11
Top Holdings (956 total)
| # | Symbol | % Port | Shares | Value | Avg Price | Q/Q Value Chg | Share Chg | Chg % | Status |
|---|---|---|---|---|---|---|---|---|---|
| 1 | NVDA | 7.51% | 8,358,960 | $1.6B | $186.58 | $226M | -81,200 | -1.0% | |
| 2 | MSFT | 5.73% | 2,295,767 | $1.2B | $517.95 | $65M | +36,800 | +1.6% | |
| 3 | AAPL | 5.32% | 4,335,499 | $1.1B | $254.63 | $205M | -47,600 | -1.1% | |
| 4 | SPY | 3.95% | 1,231,740 | $821M | $666.18 | $70M | +16,500 | +1.4% | |
| 5 | AMZN | 3.26% | 3,080,920 | $676M | $219.57 | -$13M | -61,100 | -1.9% | |
| 6 | META | 3.04% | 861,014 | $632M | $734.38 | -$6M | -3,800 | -0.4% | |
| 7 | AVGO | 3.03% | 1,905,060 | $628M | $329.91 | $102M | -6,500 | -0.3% | |
| 8 | GOOGL | 2.34% | 2,001,980 | $487M | $243.10 | $132M | -9,300 | -0.5% | |
| 9 | GOOG | 1.87% | 1,595,060 | $388M | $243.55 | $103M | -13,600 | -0.8% | |
| 10 | TSLA | 1.63% | 758,957 | $338M | $444.72 | $95M | -3,000 | -0.4% | |
| 11 | MTUM | 1.51% | 1,223,490 | $314M | $256.45 | $24M | +17,400 | +1.4% | |
| 12 | JPM | 1.43% | 943,631 | $298M | $315.43 | $29M | +18,000 | +1.9% | |
| 13 | LQD | 1.17% | 2,172,400 | $242M | $111.47 | $4M | — | — | |
| 14 | NFLX | 0.98% | 170,449 | $204M | $1,198.92 | -$25M | -800 | -0.5% | |
| 15 | LLY | 0.98% | 266,604 | $203M | $763.00 | -$4M | +1,100 | +0.4% | |
| 16 | V | 0.98% | 594,223 | $203M | $341.38 | -$10M | -5,800 | -1.0% | |
| 17 | BRK-B | 0.83% | 344,029 | $173M | $502.74 | $5M | -2,500 | -0.7% | |
| 18 | PLTR | 0.79% | 895,100 | $163M | $182.42 | $35M | -43,300 | -4.6% | |
| 19 | COST | 0.78% | 174,869 | $162M | $925.63 | -$12M | -700 | -0.4% | |
| 20 | MA | 0.70% | 254,781 | $145M | $568.81 | $3M | +2,700 | +1.1% | |
| 21 | AMD | 0.67% | 855,700 | $138M | $161.79 | $17M | -1,900 | -0.2% | |
| 22 | HD | 0.64% | 329,084 | $133M | $405.19 | $12M | -1,200 | -0.4% | |
| 23 | XOM | 0.63% | 1,153,018 | $130M | $112.75 | $4M | -18,900 | -1.6% | |
| 24 | ORCL | 0.61% | 448,232 | $126M | $281.24 | $29M | +6,000 | +1.4% | |
| 25 | JNJ | 0.61% | 677,967 | $126M | $185.42 | $22M | -2,900 | -0.4% | |
| 26 | WMT | 0.59% | 1,187,120 | $122M | $103.06 | $7M | +12,300 | +1.1% | |
| 27 | HIMS | 0.56% | 2,057,700 | $117M | $56.72 | $48M | +678,600 | +49.2% | |
| 28 | ABBV | 0.53% | 477,808 | $111M | $231.54 | $21M | -2,500 | -0.5% | |
| 29 | BAC | 0.49% | 1,963,412 | $101M | $51.59 | $11M | +61,200 | +3.2% | |
| 30 | PG | 0.49% | 657,137 | $101M | $153.65 | -$4M | -4,000 | -0.6% | |
| 31 | TDG | 0.48% | 76,192 | $100M | $1,318.02 | -$16M | -100 | -0.1% | |
| 32 | ISRG | 0.46% | 213,453 | $95M | $447.23 | -$14M | +11,500 | +5.7% | |
| 33 | CSCO | 0.43% | 1,300,162 | $89M | $68.42 | -$2M | -10,800 | -0.8% | |
| 34 | UNH | 0.42% | 255,119 | $88M | $345.30 | $8M | -1,700 | -0.7% | |
| 35 | BRK-A | 0.42% | 116 | $87M | $754,200.00 | $3M | — | — | |
| 36 | GE | 0.42% | 286,761 | $86M | $300.82 | $12M | -3,200 | -1.1% | |
| 37 | IJH | 0.40% | 1,282,810 | $84M | $65.26 | -$104K | -68,700 | -5.1% | |
| 38 | CVX | 0.39% | 520,539 | $81M | $155.29 | $18M | +78,924 | +17.9% | |
| 39 | ANET | 0.38% | 542,856 | $79M | $145.71 | $23M | -1,300 | -0.2% | |
| 40 | WFC | 0.37% | 911,949 | $76M | $83.82 | $2M | -18,500 | -2.0% | |
| 41 | KO | 0.35% | 1,081,648 | $72M | $66.32 | -$5M | -5,700 | -0.5% | |
| 42 | IBM | 0.34% | 251,940 | $71M | $282.16 | -$3M | -800 | -0.3% | |
| 43 | GS | 0.33% | 85,973 | $68M | $796.35 | $6M | -1,600 | -1.8% | |
| 44 | PM | 0.33% | 420,958 | $68M | $162.20 | -$9M | -2,300 | -0.5% | |
| 45 | VLUE | 0.32% | 535,000 | $67M | $125.05 | $3M | -31,800 | -5.6% | |
| 46 | CI | 0.32% | 230,241 | $66M | $288.25 | -$10M | -400 | -0.2% | |
| 47 | RTX | 0.31% | 390,932 | $65M | $167.33 | $8M | -1,300 | -0.3% | |
| 48 | CAT | 0.31% | 133,872 | $64M | $477.15 | $11M | -1,200 | -0.9% | |
| 49 | ABT | 0.30% | 470,757 | $63M | $133.94 | -$1M | -2,300 | -0.5% | |
| 50 | LIN | 0.30% | 131,704 | $63M | $475.00 | $204K | -1,200 | -0.9% | |
| 51 | T | 0.30% | 2,197,913 | $62M | $28.24 | -$2M | -22,800 | -1.0% | |
| 52 | MU | 0.30% | 370,242 | $62M | $167.32 | $16M | -1,200 | -0.3% | |
| 53 | MRK | 0.30% | 737,790 | $62M | $83.93 | $3M | -7,300 | -1.0% | |
| 54 | CRM | 0.30% | 258,543 | $61M | $237.00 | -$10M | -2,400 | -0.9% | |
| 55 | MCD | 0.28% | 193,015 | $59M | $303.89 | $2M | -1,400 | -0.7% | |
| 56 | DIS | 0.28% | 503,766 | $58M | $114.50 | -$5M | -2,600 | -0.5% | |
| 57 | MBB | 0.27% | 600,000 | $57M | $95.15 | $756K | — | — | |
| 58 | C | 0.27% | 553,336 | $56M | $101.50 | $8M | -9,900 | -1.8% | |
| 59 | VZ | 0.27% | 1,267,550 | $56M | $43.95 | -$21M | -506,000 | -28.5% | |
| 60 | APP | 0.27% | 77,400 | $56M | $718.54 | $54M | +73,200 | +1742.9% | |
| 61 | QCOM | 0.27% | 333,466 | $55M | $166.36 | $1M | -6,700 | -2.0% | |
| 62 | UBER | 0.27% | 564,000 | $55M | $97.97 | $2M | -4,600 | -0.8% | |
| 63 | AMAT | 0.27% | 269,455 | $55M | $204.74 | $5M | -3,900 | -1.4% | |
| 64 | PEP | 0.26% | 383,222 | $54M | $140.44 | $3M | -2,600 | -0.7% | |
| 65 | INTC | 0.26% | 1,597,683 | $54M | $33.55 | $18M | -2,300 | -0.1% | |
| 66 | MS | 0.25% | 328,126 | $52M | $158.96 | $5M | -7,800 | -2.3% | |
| 67 | NOW | 0.25% | 56,255 | $52M | $920.28 | -$6M | — | — | |
| 68 | INTU | 0.25% | 75,490 | $52M | $682.91 | -$8M | -500 | -0.7% | |
| 69 | APH | 0.25% | 415,574 | $51M | $123.75 | $11M | +1,300 | +0.3% | |
| 70 | TJX | 0.24% | 347,982 | $50M | $144.54 | $7M | -1,900 | -0.5% | |
| 71 | HUBS | 0.24% | 106,400 | $50M | $467.80 | -$9M | — | — | |
| 72 | LRCX | 0.24% | 371,600 | $50M | $133.90 | $13M | -5,500 | -1.5% | |
| 73 | TMO | 0.24% | 102,110 | $50M | $485.02 | $8M | -500 | -0.5% | |
| 74 | XLV | 0.24% | 354,888 | $49M | $139.17 | $786K | -5,700 | -1.6% | |
| 75 | AXP | 0.23% | 146,777 | $49M | $332.16 | $754K | -3,700 | -2.5% | |
| 76 | QUAL | 0.23% | 246,349 | $48M | $194.50 | $8M | +26,000 | +11.8% | |
| 77 | BLK | 0.23% | 41,071 | $48M | $1,165.87 | $4M | -600 | -1.4% | |
| 78 | BKNG | 0.23% | 8,759 | $47M | $5,399.27 | -$4M | -100 | -1.1% | |
| 79 | BABA | 0.22% | 257,000 | $46M | $178.73 | $17M | — | — | |
| 80 | GEV | 0.22% | 73,640 | $45M | $614.90 | $6M | -600 | -0.8% | |
| 81 | TXN | 0.22% | 245,861 | $45M | $183.73 | -$6M | -1,200 | -0.5% | |
| 82 | ADBE | 0.21% | 126,523 | $45M | $352.75 | -$5M | -1,200 | -0.9% | |
| 83 | ACN | 0.21% | 180,938 | $45M | $246.60 | -$10M | -1,800 | -1.0% | |
| 84 | BA | 0.21% | 204,496 | $44M | $215.83 | $1M | -500 | -0.2% | |
| 85 | SCHW | 0.21% | 461,466 | $44M | $95.47 | $2M | -2,900 | -0.6% | |
| 86 | PFE | 0.21% | 1,708,684 | $44M | $25.48 | $2M | -8,300 | -0.5% | |
| 87 | KLAC | 0.21% | 39,568 | $43M | $1,078.60 | $7M | -300 | -0.8% | |
| 88 | NEE | 0.20% | 556,898 | $42M | $75.49 | $3M | -2,900 | -0.5% | |
| 89 | TSM | 0.20% | 148,200 | $41M | $279.29 | $8M | — | — | |
| 90 | SPGI | 0.20% | 84,553 | $41M | $486.71 | -$4M | -800 | -0.9% | |
| 91 | AMGN | 0.20% | 145,597 | $41M | $282.20 | $268K | -600 | -0.4% | |
| 92 | KR | 0.19% | 596,887 | $40M | $67.41 | $19M | +297,900 | +99.6% | |
| 93 | ICE | 0.19% | 238,442 | $40M | $168.48 | -$4M | -1,100 | -0.5% | |
| 94 | ETN | 0.19% | 105,256 | $39M | $374.25 | $1M | -1,100 | -1.0% | |
| 95 | PGR | 0.19% | 158,588 | $39M | $246.95 | -$3M | -800 | -0.5% | |
| 96 | BSX | 0.19% | 400,708 | $39M | $97.63 | -$4M | -1,600 | -0.4% | |
| 97 | SPOT | 0.19% | 56,031 | $39M | $698.00 | -$7M | -4,000 | -6.7% | |
| 98 | COF | 0.19% | 181,764 | $39M | $212.58 | -$224K | -900 | -0.5% | |
| 99 | LOW | 0.18% | 151,570 | $38M | $251.31 | $4M | -600 | -0.4% | |
| 100 | UNP | 0.18% | 160,345 | $38M | $236.37 | $525K | -2,100 | -1.3% |