State of Michigan Retirement System portfolio

What changed this quarter

710 positions with a change (19 new, 143 added to, 535 trimmed, 13 sold).

No moves of 0.5 points of the portfolio or more.

The figure on the right: for positions added to or trimmed, the change in the number of shares (%); for new and sold ones, the points of the portfolio moved (pp). Below, the portfolio weight before → after. Traded weight?: what it bought or sold, excluding price effects.

Top holdings

• NVIDIANVDA7.1%
• AppleAAPL5.5%
• AlphabetGOOGL · GOOG4.7%
• MicrosoftMSFT4.4%
• Amazon.comAMZN2.8%
• BroadcomAVGO2.5%
• Meta PlatformsMETA2.3%
• Advanced Micro DevicesAMD2.0%
• iShares Msci USA Momentum FA ETFMTUM1.9%
• Micron TechnologyMU1.7%
• Ishares TrLQD1.4%
• AdobeADBE1.3%
• TeslaTSLA1.1%
• HubSpotHUBS1.1%
• Berkshire HathawayBRK/B · BRK/A1.1%
• Eli LillyLLY1.1%
• State Str Spdr S&P 500 ETF TSPY1.0%
• JPMorgan ChaseJPM1.0%
• KrogerKR0.9%
• DuolingoDUOL0.8%
• Exxon MobilXOM0.8%
• Charter CommunicationsCHTR0.8%
• Palantir TechnologiesPLTR0.8%
• Johnson & JohnsonJNJ0.7%
• VisaV0.7%
• IntelINTC0.7%
• MastercardMA0.6%
• Arista NetworksANET0.6%
• iShares Core U.s. Aggregate ETFAGG0.5%
• Cisco SystemsCSCO0.5%
• WalmartWMT0.5%
• AbbVieABBV0.5%
• Lam ResearchLRCX0.5%
• Applied MaterialsAMAT0.5%
• Costco WholesaleCOST0.5%
• Space Exploration TechnologiesSPCX0.5%
• ChevronCVX0.4%
• Vertiv HoldingsVRT0.4%
• Bank of AmericaBAC0.4%
• MerckMRK0.4%
• CaterpillarCAT0.4%
• BlackRock ETF Trust IISECU0.4%
• iShares Msci USA Quality FAC ETFQUAL0.4%
• Palo Alto NetworksPANW0.4%
• Procter & GamblePG0.4%
• Coca-ColaKO0.4%
• UnitedHealth GroupUNH0.4%
• Kayne Anderson BDCKBDC0.4%
• GE AerospaceGE0.4%
• NetflixNFLX0.3%
• Philip Morris InternationalPM0.3%
• CrowdStrike HoldingsCRWD0.3%
• KLAKLAC0.3%
• Home DepotHD0.3%
• Ishares TrHYG0.3%
• iShares Core S&P Midcap ETFIJH0.3%
• Factset Research SystemsFDS0.3%
• Goldman Sachs GroupGS0.3%
• Wells FargoWFC0.3%
• GE VernovaGEV0.3%
• Texas InstrumentsTXN0.3%
• SandiskSNDK0.3%
• RTXRTX0.3%
• Thermo Fisher ScientificTMO0.3%
• CitigroupC0.3%
• OracleORCL0.3%
• Marvell TechnologyMRVL0.3%
• AmphenolAPH0.3%
• LindeLIN0.3%
• Verizon CommunicationsVZ0.3%
• AmgenAMGN0.3%
• Morgan StanleyMS0.2%
• QualcommQCOM0.2%
• iShares MBS ETFMBB0.2%
• ZoetisZTS0.2%
• Seagate Technology HoldingsSTX0.2%
• International Business MachinesIBM0.2%
• State Street SPDR P S&P 1500 Comp ETFSPTM0.2%
• SalesforceCRM0.2%
• At&tT0.2%
• Walt DisneyDIS0.2%
• iShares Msci USA Value Facto ETFVLUE0.2%
• Gilead SciencesGILD0.2%
• Analog DevicesADI0.2%
• Dell TechnologiesDELL0.2%
• TJXTJX0.2%
• PfizerPFE0.2%
• EatonETN0.2%
• Oscar HealthOSCR0.2%
• Molina HealthcareMOH0.2%
• PepsicoPEP0.2%
• Intuitive SurgicalISRG0.2%
• Abbott LaboratoriesABT0.2%
• DeereDE0.2%
• ServiceNowNOW0.2%
• WelltowerWELL0.2%
• Charles SchwabSCHW0.2%
• Western DigitalWDC0.2%