State of Michigan Retirement System

All holdings · as of Dec 31, 2025

Company	Class	Value	Shares	% of portfolio
PROGRESSIVE CORP/OH	—	$36.23M	159,088	0.2%
Union Pacific Corp	—	$35.91M	155,245	0.2%
LOWES COMPANIES INC	—	$35.42M	146,870	0.2%
ANALOG DEVICES INC	—	$34.92M	128,755	0.2%
Comcast Corp.	—	$33.85M	1,132,489	0.2%
Welltower, Inc.	—	$33.36M	179,709	0.2%
Palo Alto Networks Inc	—	$32.99M	179,100	0.2%
Prologis Inc	—	$32.50M	254,567	0.2%
HONEYWELL INTERNATIONAL INC	—	$32.43M	166,215	0.2%
Eaton Corp plc	—	$32.38M	101,656	0.2%
Medtronic plc	—	$32.26M	335,798	0.2%
BRISTOL MYERS SQUIBB CO	—	$31.87M	590,933	0.2%
STRYKER CORP	—	$31.67M	90,099	0.2%
Newmont Corp	—	$31.48M	315,245	0.2%
VERTEX PHARMACEUTICALS INC / MA	—	$31.38M	69,223	0.2%
CrowdStrike Holdings, Inc.	—	$30.80M	65,700	0.1%
General Motors Co	—	$30.75M	378,108	0.1%
DEERE & CO	—	$30.66M	65,857	0.1%
ConocoPhillips	—	$30.29M	323,528	0.1%
AUTOMATIC DATA PROCESSING INC	—	$30.25M	117,603	0.1%
Chubb Ltd	—	$29.90M	95,787	0.1%
CVS HEALTH Corp	—	$29.81M	375,677	0.1%
Blackstone Inc	—	$29.80M	193,300	0.1%
NIKE, Inc.	—	$29.42M	461,815	0.1%
Parker-Hannifin Corp	—	$29.00M	32,996	0.1%
Constellation Energy Corp	—	$28.89M	81,767	0.1%
LOCKHEED MARTIN CORP	—	$28.11M	58,118	0.1%
CME Group Inc	—	$26.86M	98,344	0.1%
SoFi Technologies, Inc.	—	$26.18M	1,000,000	0.1%
T-Mobile US, Inc.TMUS	Common Stock	$25.57M	125,941	0.1%
ALTRIA GROUP, INC.	—	$25.34M	439,442	0.1%
SOUTHERN CO	—	$25.13M	288,223	0.1%
STARBUCKS CORP	—	$25.07M	297,659	0.1%
MARSH & MCLENNAN COMPANIES, INC.	—	$24.60M	132,575	0.1%
Burlington Stores, Inc.	—	$24.49M	84,800	0.1%
Trane Technologies plc	—	$24.45M	62,813	0.1%
Duke Energy Corp	—	$23.87M	203,636	0.1%
CADENCE DESIGN SYSTEMS INC	—	$23.79M	76,123	0.1%
US BANCORP \DE	—	$23.31M	436,882	0.1%
Robinhood Markets, Inc.	—	$23.29M	205,900	0.1%
KKR & Co. Inc.	—	$22.91M	179,700	0.1%
SYNOPSYS INC	—	$22.85M	48,654	0.1%
The PNC Financial Services Group, Inc.	—	$22.81M	109,256	0.1%
GENERAL DYNAMICS CORP	—	$22.36M	66,412	0.1%
Elevance Health Inc	—	$22.31M	63,651	0.1%
3M CO	—	$22.27M	139,105	0.1%
DoorDash, Inc.	—	$22.17M	97,900	0.1%
MercadoLibre, Inc.	—	$22.16M	11,000	0.1%
MSCI Inc.	—	$22.09M	38,502	0.1%
Edwards Lifesciences Corp	—	$21.94M	257,351	0.1%