STATE OF MICHIGAN RETIREMENT SYSTEM Q2 2025 Filing

Filed August 5, 2025

Portfolio Value

$19.3T

Holdings

944

Report Date

Q2 2025

Filing Type

13F-HR

All Holdings (944 positions)

#StockSharesValue% PortfolioType
1
NVDANVIDIA CORPORATION
8,440,160$1.3T6.90%
2
MSFTMICROSOFT CORP
2,258,967$1.1T5.82%
3
AAPLAPPLE INC
4,383,099$899.3B4.66%
4
SPYSPDR S P 500 ETF TR
1,215,240$750.8B3.89%
5
AMZNAMAZON COM INC
3,142,020$689.3B3.57%
6
METAMETA PLATFORMS INC
864,814$638.3B3.30%
7
AVGOBROADCOM INC
1,911,560$526.9B2.73%
8
GOOGLALPHABET INC
2,011,280$354.4B1.84%
9
MTUMISHARES TR
1,206,090$289.8B1.50%
10
GOOGALPHABET INC
1,608,660$285.4B1.48%
11
JPMJPMORGAN CHASE CO
925,631$268.3B1.39%
12
TSLATESLA INC
761,957$242.0B1.25%
13
LQDISHARES TR
2,172,400$238.1B1.23%
14
NFLXNETFLIX INC
171,249$229.3B1.19%
15
VVISA INC
600,023$213.0B1.10%
16
LLYELI LILLY CO
265,504$207.0B1.07%
17
COSTCOSTCO WHSL CORP NEW
175,569$173.8B0.90%
18
BRK/BBERKSHIRE HATHAWAY INC DEL
346,529$168.3B0.87%
19
MAMASTERCARD INCORPORATED
252,081$141.7B0.73%
20
PLTRPALANTIR TECHNOLOGIES INC
938,400$127.9B0.66%
21
XOMEXXON MOBIL CORP
1,171,918$126.3B0.65%
22
AMDADVANCED MICRO DEVICES INC
857,600$121.7B0.63%
23
HDHOME DEPOT INC
330,284$121.1B0.63%
24
T7DTRANSDIGM GROUP INC
76,292$116.0B0.60%
25
WMTWALMART INC
1,174,820$114.9B0.59%
26
ISRGINTUITIVE SURGICAL INC
201,953$109.7B0.57%
27
PGPROCTER AND GAMBLE CO
661,137$105.3B0.55%
28
JNJJOHNSON JOHNSON
680,867$104.0B0.54%
29
ORCLORACLE CORP
442,232$96.7B0.50%
30
CSCOCISCO SYS INC
1,310,962$91.0B0.47%
31
BACBANK AMERICA CORP
1,902,212$90.0B0.47%
32
ABBVABBVIE INC
480,308$89.2B0.46%
33
BRK-BBERKSHIRE HATHAWAY INC DEL
116$84.5B0.44%
34
IJHISHARES TR
1,351,510$83.8B0.43%
35
UNHUNITEDHEALTH GROUP INC
256,819$80.1B0.41%
36
4I1PHILIP MORRIS INTL INC
423,258$77.1B0.40%
37
KOCOCA COLA CO
1,087,348$76.9B0.40%
38
BACVERIZON COMMUNICATIONS INC
1,773,550$76.7B0.40%
39
CITHE CIGNA GROUP
230,641$76.2B0.39%
40
GEGE AEROSPACE
289,961$74.6B0.39%
41
WFCWELLS FARGO CO NEW
930,449$74.5B0.39%
42
IBMINTERNATIONAL BUSINESS MACHS
252,740$74.5B0.39%
43
CRMSALESFORCE INC
260,943$71.2B0.37%
44
HIMSHIMS HERS HEALTH INC
1,379,100$68.7B0.36%
45
ABTABBOTT LABS
473,057$64.3B0.33%
46
TAT T INC
2,220,713$64.3B0.33%
47
VLUEISHARES TR
566,800$64.2B0.33%
48
CVXCHEVRON CORP NEW
441,615$63.2B0.33%
49
DISDISNEY WALT CO
506,366$62.8B0.33%
50
LINLINDE PLC
132,904$62.4B0.32%
51
GSGOLDMAN SACHS GROUP INC
87,573$62.0B0.32%
52
INTUINTUIT
75,990$59.9B0.31%
53
HUBSHUBSPOT INC
106,400$59.2B0.31%
54
MRKMERCK CO INC
745,090$59.0B0.31%
55
NOWSERVICENOW INC
56,255$57.8B0.30%
56
RTXRTX CORPORATION
392,232$57.3B0.30%
57
MCDMCDONALDS CORP
194,415$56.8B0.29%
58
MBBISHARES TR
600,000$56.3B0.29%
59
ANETARISTA NETWORKS INC
544,156$55.7B0.29%
60
ACNACCENTURE PLC IRELAND
182,738$54.6B0.28%
61
QCOMQUALCOMM INC
340,166$54.2B0.28%
62
UBERUBER TECHNOLOGIES INC
568,600$53.1B0.27%
63
CATCATERPILLAR INC
135,072$52.4B0.27%
64
TXNTEXAS INSTRS INC
247,061$51.3B0.27%
65
BKNGBOOKING HOLDINGS INC
8,859$51.3B0.27%
66
PEPPEPSICO INC
385,822$50.9B0.26%
67
AMATAPPLIED MATLS INC
273,355$50.0B0.26%
68
ADBEADOBE INC
127,723$49.4B0.26%
69
XLVSELECT SECTOR SPDR TR
360,588$48.6B0.25%
70
AXPAMERICAN EXPRESS CO
150,477$48.0B0.25%
71
TRVCCITIGROUP INC
563,236$47.9B0.25%
72
DWDMORGAN STANLEY
335,926$47.3B0.24%
73
SPOTSPOTIFY TECHNOLOGY S A
60,031$46.1B0.24%
74
MUMICRON TECHNOLOGY INC
371,442$45.8B0.24%
75
SPGIS P GLOBAL INC
85,353$45.0B0.23%
76
BURLBURLINGTON STORES INC
190,200$44.2B0.23%
77
ICEINTERCONTINENTAL EXCHANGE IN
239,542$43.9B0.23%
78
BLKBLACKROCK INC
41,671$43.7B0.23%
79
BSXBOSTON SCIENTIFIC CORP
402,308$43.2B0.22%
80
TJXTJX COS INC NEW
349,882$43.2B0.22%
81
BABOEING CO
204,996$43.0B0.22%
82
PGRPROGRESSIVE CORP
159,388$42.5B0.22%
83
SCHWSCHWAB CHARLES CORP
464,366$42.4B0.22%
84
PFEPFIZER INC
1,716,984$41.6B0.22%
85
TMOTHERMO FISHER SCIENTIFIC INC
102,610$41.6B0.22%
86
APHAMPHENOL CORP NEW
414,274$40.9B0.21%
87
AMGNAMGEN INC
146,197$40.8B0.21%
88
HONHONEYWELL INTL INC
174,715$40.7B0.21%
89
QUALISHARES TR
220,349$40.3B0.21%
90
CMCSACOMCAST CORP NEW
1,110,089$39.6B0.21%
91
GEVGE VERNOVA INC
74,240$39.3B0.20%
92
COFCAPITAL ONE FINL CORP
182,664$38.9B0.20%
93
NEENEXTERA ENERGY INC
559,798$38.9B0.20%
94
ADPAUTOMATIC DATA PROCESSING IN
123,803$38.2B0.20%
95
GEHCGE HEALTHCARE TECHNOLOGIES I
514,553$38.1B0.20%
96
ETNEATON CORP PLC
106,356$38.0B0.20%
97
GILDGILEAD SCIENCES INC
338,195$37.5B0.19%
98
UNPUNION PAC CORP
162,445$37.4B0.19%
99
SYKSTRYKER CORPORATION
93,499$37.0B0.19%
100
PANWPALO ALTO NETWORKS INC
180,000$36.8B0.19%
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