State of Michigan Retirement System 13F: New $12M Stake in SNAP
Key Points
- The State of Michigan Retirement System added 2.27 million shares of Snap Inc., marking a new position valued at approximately $12.26 million.
- State of Michigan Retirement System held 2,270,000 $SNAP shares at quarter end, all of it a new position.
- Snap Inc. shares recently traded around $6.07, about equal to the $6.08 closing price on the filing date, and remain below the 52-week high of $9.13.
- The retirement system's new stake accounts for 0.11% of its total reported value of over $11 billion, ranking 40th among its holdings.
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Not investment advice. TradeTexts is not a registered investment adviser, and this automated Snap Inc. alert may contain errors. Disclosures
On October 27, 2026, the State of Michigan Retirement System took a new position of 2.27 million shares in Snap Inc. (NYSE: SNAP), valued at approximately $12.26 million. This move was disclosed in the fund's latest Form 13F filing with the SEC.
SNAP
Snap Inc.
Where Snap Inc. Fits in State of Michigan Retirement System's Portfolio
This new stake represents about 0.11% of the State of Michigan Retirement System's total reported value of $11,015,690,503. It ranks 40th among the fund's 966 reported positions.
Other Institutional Activity in Snap Inc.
Several other funds have recently adjusted their positions in Snap Inc. Irenic Capital Management LP holds 30 million shares, while AQR Capital Management, LLC increased its stake by about 17.9 million shares, totaling nearly 29.3 million shares. Two Sigma Investments, LP also expanded its holdings to about 20.4 million shares, contributing to a robust interest in the stock.
Snap Inc. Stock Down 4.3%
Snap Inc. shares recently traded around $6.07, which is about equal to its closing price of $6.08 on October 27, 2026. The stock is currently above its 50-day moving average of $5.71 and its 200-day moving average of $5.49. However, it remains below its 52-week high of $9.13, reflecting a significant distance from that peak.
Recent Earnings
Snap Inc. reported trailing twelve-month revenue of about $6.35 billion, with a year-over-year revenue growth of 18.9%. The company is set to announce its next earnings report on November 4, 2026.
Analysts Set New Price Targets
On October 14, 2026, UBS maintained a Neutral rating on Snap Inc. with a price target of $7.00. This follows a series of ratings from firms like Mizuho and Truist Securities, who also maintain Hold and Neutral ratings with targets ranging from $5.70 to $8.00.
About Snap Inc.
Snap Inc. operates primarily in the technology sector, offering Snapchat, a popular visual messaging app that allows users to communicate through short videos and images. This new investment by the State of Michigan Retirement System reflects ongoing interest in the company's innovative approach to communication.
Bottom Line
Investors will be looking for Snap Inc.'s upcoming earnings report on November 4, 2026, to gauge its financial health. The recent filing by the State of Michigan Retirement System highlights a strategic entry into a company that continues to evolve in the competitive tech landscape.
Related Filing Alerts
Source: State of Michigan Retirement System's 13F filing on $SNAP (Oct 27, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Written by software, not financial advice. How we make alerts