State of Michigan Retirement System 13F: Cuts NVDA Stake by $37M
Key Points
- The State of Michigan Retirement System's reported value in NVIDIA is now about $1.59 billion after the reduction.
- State of Michigan Retirement System held 6,982,804 $NVDA shares at quarter end, down 2.26% from the prior quarter.
- NVIDIA shares closed at $217.94 on the filing date, and as of October 28, 2026, they were recently trading around $217.88.
- With this change, NVIDIA now represents 14.48% of the State of Michigan Retirement System's total reported value of about $11.02 billion.
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On October 27, 2026, the State of Michigan Retirement System trimmed its stake in NVIDIA Corporation (NVDA) by 161,500 shares, reducing its total holdings to 6,982,804 shares. This change represents a decrease of about 2.3% for the fund's position in NVIDIA. The reported value of this reduction is approximately $36.9 million.
NVDA
NVIDIA Corporation
Where NVIDIA Fits in State of Michigan Retirement System's Portfolio
NVIDIA now makes up 14.48% of the State of Michigan Retirement System's total reported value of about $11.02 billion, ranking first among the fund's holdings. This latest trim reflects a significant position within their portfolio, indicating the importance of NVIDIA in their investment strategy.
Other Institutional Activity in NVIDIA
On the same day, Chicago Partners Investment Group increased its stake in NVIDIA by 14,782 shares, bringing its total to 669,987 shares valued at about $141.3 million. Asset Management One also boosted its holdings, adding 161,196 shares to reach a total of 10,920,158 shares worth approximately $2.49 billion.
NVIDIA Corporation Stock Up 3.3%
NVIDIA shares closed at $217.94 on October 27, 2026. Recently, the stock has been trading around $217.88, which is about equal to its closing price. The stock is currently below its 50-day moving average by 2.0% but is above its 200-day moving average by 6.9%.
Recent Earnings
NVIDIA reported trailing twelve-month revenue of approximately $302.97 billion, with an EPS of $7.91. The company has shown strong growth, with a year-over-year revenue increase of 105.9%. Its next earnings report is scheduled for November 17, 2026.
Dividend
NVIDIA pays an annual dividend of $1.00 per share, resulting in a yield of 0.46%. The company has a dividend payout ratio of 3.5%.
Insider Buying and Selling at NVIDIA Corporation
Mark A. Stevens, a Director, sold 1,848,501 shares on September 2, 2026, valued at about $410.8 million. On September 4, he sold another 1,022,239 shares worth approximately $235.6 million. Additionally, he sold 1,366,000 shares on September 18, valued at around $300.1 million. General Counsel Timothy S. Teter also sold 30,460 shares on September 21, 2026, worth about $6.8 million.
Analysts Set New Price Targets
On October 22, 2026, Needham reiterated a Buy rating for NVIDIA with a price target of $300. The consensus among analysts is a strong Buy with a mean price target of $328.95 based on 58 opinions.
About NVIDIA Corporation
NVIDIA Corporation is a technology company known for its work in AI and computing infrastructure. It operates in various segments, including data center solutions and graphics processing, serving markets globally.
Bottom Line
Investors should keep an eye on NVIDIA's upcoming earnings report on November 17, 2026, as well as any further changes in institutional holdings and analyst ratings. The State of Michigan Retirement System's recent trim in NVIDIA reflects ongoing portfolio adjustments as market conditions evolve.
Related Filing Alerts
Source: State of Michigan Retirement System's 13F filing on $NVDA (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