State of Michigan Retirement System 13F: Cuts AMZN Stake by $17M
Key Points
- The State of Michigan Retirement System reduced its Amazon stake by 67,600 shares, valued at approximately $16.8 million, as disclosed in its latest 13F filing.
- Following this adjustment, the fund now holds a total of 2,580,279 shares in Amazon, representing about 5.84% of its total portfolio.
- Amazon's stock recently traded at $253.15, remaining below its 50-day moving average but above its 200-day average.
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On October 27, 2026, the State of Michigan Retirement System trimmed its stake in Amazon.com, Inc. (AMZN) by 67,600 shares, reducing its holdings to 2,580,279 shares valued at approximately $642.9 million. This move was disclosed in the fund's latest Form 13F filing with the SEC.
AMZN
Amazon.com, Inc.
What Changed in State of Michigan Retirement System's Amazon Position
The State of Michigan Retirement System's reduction in Amazon shares marks a 2.6% decrease in its position. The fund's reported value in Amazon is now about $11 billion, with this stake ranking fourth among its 966 total reported positions.
Where Amazon Fits in State of Michigan Retirement System's Portfolio
Amazon now makes up about 5.84% of the State of Michigan Retirement System's total portfolio.
Other Institutional Activity in Amazon
Indivisible Partners increased its stake in Amazon by 18,176 shares, bringing its total to 87,851 shares valued at about $21.9 million. Similarly, Chicago Partners Investment Group added 13,508 shares, raising its total to 183,660 shares worth approximately $45.5 million.
Amazon.com, Inc. Stock Up 2.1%
As of October 27, 2026, Amazon shares closed at $253.10. The stock is currently trading about equal to its recent price, which is below its 50-day moving average of $255.38 but above its 200-day average of $243.31. Additionally, it is about 11.9% below its 52-week high of $287.20.
Recent Earnings
Amazon reported trailing twelve-month revenue of approximately $775.7 billion and an earnings per share (EPS) of $12.43. The next earnings report is expected on October 29, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
23 analysts raised price targets.
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EPS & revenue
EPS missed estimates by 3.6%. Revenue met estimates.
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Profit surprise
EBITDA beat by 31 percent. Operating income beat by 90 percent.
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Pre-earnings setup
Bar was high, analysts already very bullish.
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Analyst signal
23 target raises.
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Earnings quality
Gross margin up 1.3 points. Operating margin up 1.3 points. Positive free cash flow.
Earnings Call Summary
Amazon had a strong first quarter with $181.5 billion in revenue and record 13.1 percent operating margin. Cloud computing services grew 28 percent year over year, the fastest pace in 15 quarters, driven by artificial intelligence demand. The company is investing tens of billions in data centers and chips, expecting these upfront costs to deliver strong returns in future years as customers pay for the capacity.
Guidance Amazon expects second quarter sales between $194 billion and $199 billion, up from first quarter's $181.5 billion. Operating income should reach $20 billion to $24 billion as the company invests heavily in artificial intelligence and new satellites for the Amazon LEO business.
Slightly positive report. The quarter was acceptable, but the forward setup is not strong.
Insider Buying and Selling at Amazon.com, Inc.
Several insiders sold shares recently, including Douglas J. Herrington, who sold 6,362 shares on August 21, 2026, and David A. Zapolsky, who sold 15,430 shares on August 24, 2026. These transactions indicate continued activity among Amazon executives.
Analysts Set New Price Targets
On October 26, 2026, UBS maintained a "Buy" rating on Amazon with a new price target of $348, up from $318. Other analysts have also maintained their ratings, with targets ranging from $310 to $385.
About Amazon.com, Inc.
Amazon.com, Inc. is a leading global retailer that sells consumer products and services online and in physical stores. The company operates in various segments, including retail, advertising, and cloud services through Amazon Web Services (AWS).
Bottom Line
Investors will be watching Amazon's upcoming earnings report on October 29, 2026, for insights into its performance amid recent market activity. The State of Michigan Retirement System's trim in Amazon shares reflects a strategic adjustment within its portfolio, but it remains a significant holder of the stock.
Related Filing Alerts
Source: State of Michigan Retirement System's 13F filing on $AMZN (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