STATE OF MICHIGAN RETIREMENT SYSTEM

Q2 2025 13F-HR Holdings

Location
East Lansing, MI
Holdings as of
6/30/2025
Date filed
8/5/2025
Form type
13F-HR
Num holdings
944
Total value ($000)
$19,313,747
Net value change ($000)
+1,978,477 (11.4%)
New positions
7
Sold out positions
7
Turnover %
0.3%
Sector allocation + QoQ delta (equities-only)
Prev filing: 4/30/2025 Next filing: 11/5/2025 SEC filing

Snapshot: Change Analysis

Compared to Q1 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
NVDA 418,131 45.7%
MSFT 276,052 32.6%
AVGO 208,042 65.2%
META 136,178 27.1%
SPY 96,607 14.8%
AMZN 93,506 15.7%
NFLX 69,630 43.6%
PLTR 49,760 63.7%
JPM 47,204 21.3%
HIMS 46,710 212.0%
Top Reduces (Value $000, Stocks/ETFs)
AAPL -81,557 -8.3%
RITM -69,588 -95.0%
NEE -61,158 -61.1%
UNH -55,908 -41.1%
XYZ -32,562 -77.2%
BRK-B -15,582 -8.5%
XOM -14,114 -10.0%
CVX -12,617 -16.6%
DFS -11,625 -100.0%
ABBV -11,186 -11.1%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type