SEC 13F Intelligence

Managers / Q3 2019 · view latest →

Municipal Employees' Retirement System of Michigan

CIK 0001588873 · 1134 MUNICIPAL WAY, LANSING, MI, 48917 · 517-703-9030

Reported Value
$2.6B
Q3 2019
Positions
1,990
Filings on Record
30
2019–present window
Filed
Oct 29, 2019
original filing

Summary

Municipal Employees' Retirement System Of Michigan reported $2.6B in U.S.-listed holdings across 1,990 positions for Q3 2019.

The portfolio is heavily concentrated: US Treasury N B alone accounts for 23.8% of reported value.

Compared with Q2 2019, the fund opened 61 new positions and exited 44.

Portfolio Metrics

Turnover
+8.2%
vs prior filed quarter
Top-10 Concentration
+50.0%
share of reported value
Largest Position
+23.8%
US Treasury N B
New / Exited
61 / 44
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $1.7BQ4 ’18Q1 ’19: $1.5BQ2 ’19: $1.4BQ3 ’19: $2.6BQ4 ’19: $3.1BQ4 ’19Q1 ’20: $3.2BQ2 ’20: $4.0BQ3 ’20: $4.2BQ4 ’20: $5.1BQ4 ’20Q1 ’21: $6.0BQ2 ’21: $7.4BQ3 ’21: $6.0BQ4 ’21: $6.2BQ4 ’21Q1 ’22: $6.5BQ2 ’22: $5.4BQ3 ’22: $5.6BQ1 ’23: $6.5BQ1 ’23Q2 ’23: $7.0BQ3 ’23: $7.2BQ4 ’23: $7.5BQ1 ’24: $7.8BQ1 ’24Q2 ’24: $7.2BQ3 ’24: $7.6BQ4 ’24: $7.3BQ1 ’25: $7.9BQ1 ’25Q2 ’25: $8.3BQ3 ’25: $8.6BQ4 ’25: $8.8BQ1 ’26: $8.8BQ1 ’26filingsflow.com

Portfolio Composition

By security type
Common Stock: 47.4%ETP: 24.4%US GOVERNMENT: 23.8%REIT: 2.7%Other: 1.4%Other: 0.3%
  • Common Stock · 47.4% · $1.2B
  • ETP · 24.4% · $638M
  • US GOVERNMENT · 23.8% · $624M
  • REIT · 2.7% · $71M
  • Other · 1.4% · $36M
  • Other · 0.3% · $8M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2019 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
IVVISHARES CORE SP 500 ETFNEW+1.16M1.16M+$346M$346M
SPTISPDR PORTFOLIO INTERMEDIATE TENEW+3.74M3.74M+$117M$117M
STIPISHARES 0 5 YEAR TIPS BOND ETFNEW+598.4K598.4K+$60M$60M
US TREASURY N/BNEW+55.00M55.00M+$54M$54M
US TREASURY N/BNEW+50.00M50.00M+$50M$50M
MBBISHARES MBS ETFNEW+465.3K465.3K+$50M$50M
US TREASURY N/BNEW+50.00M50.00M+$50M$50M
US TREASURY N/BNEW+50.00M50.00M+$50M$50M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q3 2019

420 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1US TREASURY N/BCOM23.84%$624M624.00M
2IVVISHARES CORE SP 500 ETFhistory →COM13.22%$346M1.16M
3SPTISPDR PORTFOLIO INTERMEDIATE TEhistory →COM4.48%$117M3.74M
4STIPISHARES 0 5 YEAR TIPS BOND ETFhistory →COM2.29%$60M598.4K
5MBBISHARES MBS ETFhistory →COM1.93%$50M465.3K
6FLRNSPDR BLOOMBERG BARCLAYS INVESThistory →COM1.73%$45M1.47M
7MSFTMICROSOFT CORPhistory →COM0.72%$19M135.1K
8AAPLAPPLE INChistory →COM0.67%$17M78.0K
9IGSBISHARES SHORT TERM CORPORATE Bhistory →COM0.58%$15M282.5K
10GOOGALPHABET INC CL C CDICOM0.52%$14M11.2K
11AMZNAMAZONCOM INC CDIhistory →COM0.50%$13M7.6K
12METAFACEBOOK INC CLASS ACOM0.36%$9M52.5K
13BRK/BBERKSHIRE HATHAWAY CL B CDICOM0.35%$9M43.5K
14JPMJPMORGAN CHASE COCOM0.34%$9M75.3K
15PGPROCTER GAMBLE CO/THECOM0.32%$8M67.3K
16JNJJOHNSON JOHNSONCOM0.31%$8M62.0K
17TATT INC CDICOM0.30%$8M208.6K
18VVISA INC CLASS A SHARESCOM0.30%$8M45.6K
19HDHOME DEPOT INCCOM0.29%$7M32.2K
20MAMASTERCARD INC ACOM0.28%$7M26.6K
21EXMOCEXXON MOBIL CORPCOM0.27%$7M100.5K
22VZVERIZON COMMUNICATIONS INCCOM0.27%$7M116.4K
23BACBANK OF AMERICA CORP CDICOM0.27%$7M238.2K
24MRKMERCK CO INCCOM0.27%$7M82.5K
25KOCOCA COLA CO/THECOM0.26%$7M125.7K
26DISWALT DISNEY CO/THECOM0.25%$7M50.4K
27CMCSACOMCAST CORP CLASS ACOM0.25%$7M144.6K
28WFCWELLS FARGO COCOM0.25%$6M128.8K
29CVXCHEVRON CORP CDICOM0.25%$6M54.7K
30MDTMEDTRONIC PLCCOM0.25%$6M59.3K
31PEPPEPSICO INCCOM0.24%$6M46.6K
32WMTWALMART INC CDICOM0.24%$6M53.2K
33BABOEING CO/THECOM0.24%$6M16.4K
34INTCINTEL CORPCOM0.24%$6M120.7K
35UNHUNITEDHEALTH GROUP INC CDICOM0.24%$6M28.3K
36MCDMCDONALD S CORPCOM0.23%$6M28.3K
37CSCOCISCO SYSTEMS INC CDICOM0.23%$6M120.5K
38PFEPFIZER INCCOM0.23%$6M165.3K
39ABTABBOTT LABORATORIESCOM0.23%$6M70.5K
40CCITIGROUP INCCOM0.22%$6M81.8K
41AMGNAMGEN INC CDICOM0.21%$5M27.9K
42ACNACCENTURE PLC CL ACOM0.21%$5M28.1K
43IBMINTL BUSINESS MACHINES CORPCOM0.21%$5M37.0K
44ADBEADOBE INCCOM0.20%$5M19.4K
45NKENIKE INC CL BCOM0.20%$5M56.6K
46ORCLORACLE CORPCOM0.20%$5M96.4K
47HONHONEYWELL INTERNATIONAL INCCOM0.20%$5M30.4K
48PYPLPAYPAL HOLDINGS INCCOM0.19%$5M48.4K
49CRMSALESFORCECOM INC CDICOM0.19%$5M33.4K
50UTXZUNITED TECHNOLOGIES CORPCOM0.19%$5M36.2K
51ABBVABBVIE INCCOM0.19%$5M64.3K
52UNPUNION PACIFIC CORPCOM0.18%$5M29.2K
53PMPHILIP MORRIS INTERNATIONALCOM0.18%$5M62.2K
54NVDANVIDIA CORPCOM0.18%$5M26.6K
55AVGOBROADCOM INCCOM0.17%$5M16.4K
56NFLXNETFLIX INCCOM0.16%$4M15.2K
57IWMISHARES RUSSELL 2000 ETFCOM0.15%$4M26.1K
58AXPAMERICAN EXPRESS COCOM0.15%$4M33.0K
59MMM3M COCOM0.15%$4M23.7K
60VISA INCCOM0.14%$4M3.62M
61TMOTHERMO FISHER SCIENTIFIC INCCOM0.14%$4M12.3K
62USBUS BANCORPCOM0.12%$3M57.3K
63ADPAUTOMATIC DATA PROCESSINGCOM0.11%$3M17.5K
64LMTLOCKHEED MARTIN CORPCOM0.10%$3M6.9K
65IMKTAINGLES MARKETS INC CLASS ACOM0.10%$2M64.1K
66NVRNVR INCCOM0.09%$2M630
67ADMARCHER DANIELS MIDLAND COCOM0.09%$2M56.7K
68FNMA POOL AY4230COM0.09%$2M2.25M
69PNCPNC FINANCIAL SERVICES GROUPCOM0.09%$2M16.1K
70LLYELI LILLY COCOM0.09%$2M20.1K
71STESTERIS PLCCOM0.09%$2M15.5K
72GSGOLDMAN SACHS GROUP INCCOM0.09%$2M10.8K
73DDOMINION ENERGY INCCOM0.08%$2M27.0K
74BKNGBOOKING HOLDINGS INC CDICOM0.08%$2M1.1K
75BMYBRISTOL MYERS SQUIBB COCOM0.08%$2M42.9K
76HIGHARTFORD FINANCIAL SVCS GRPCOM0.08%$2M35.8K
77TDYTELEDYNE TECHNOLOGIES INCCOM0.08%$2M6.7K
78GILDGILEAD SCIENCES INCCOM0.08%$2M33.5K
79YUSDALLEGHANY CORPCOM0.08%$2M2.6K
80CLCOLGATE PALMOLIVE COCOM0.08%$2M28.7K
81TRVTRAVELERS COS INC/THECOM0.08%$2M14.1K
82DISCOVER FINANCIAL SERVICESCOM0.08%$2M25.7K
83ZBRAZEBRA TECHNOLOGIES CORP CL ACOM0.08%$2M9.9K
84ODFLOLD DOMINION FREIGHT LINECOM0.08%$2M11.7K
85CPTCAMDEN PROPERTY TRUSTCOM0.08%$2M17.8K
86ALLEALLEGION PLCCOM0.07%$2M18.8K
87UGIUGI CORPCOM0.07%$2M38.3K
88WSTWEST PHARMACEUTICAL SERVICESCOM0.07%$2M13.5K
89WRBWR BERKLEY CORPCOM0.07%$2M26.5K
90TYLTYLER TECHNOLOGIES INCCOM0.07%$2M7.1K
91DPZDOMINO S PIZZA INCCOM0.07%$2M7.6K
92ISRGINTUITIVE SURGICAL INCCOM0.07%$2M3.4K
93RGAREINSURANCE GROUP OF AMERICACOM0.07%$2M11.5K
94ETRENTERGY CORPCOM0.07%$2M15.6K
95FED HM LN PC POOL G18541COM0.07%$2M1.76M
96TERTERADYNE INCCOM0.07%$2M31.2K
97TRMBTRIMBLE INCCOM0.07%$2M46.2K
98COSTCOSTCO WHOLESALE CORPCOM0.07%$2M6.2K
99NNNNATIONAL RETAIL PROPERTIESCOM0.07%$2M31.5K
100AQUA AMERICA INCCOM0.07%$2M39.6K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$8.8B29May 11, 202613F-HRchanges · EDGAR ↗
Q4 2025$8.8B38Feb 6, 202613F-HRchanges · EDGAR ↗
Q3 2025$8.6B54Nov 12, 202513F-HRchanges · EDGAR ↗
Q2 2025$8.3B54Aug 4, 202513F-HRchanges · EDGAR ↗
Q1 2025$7.9B55May 7, 202513F-HRchanges · EDGAR ↗
Q4 2024$7.3B59Feb 10, 202513F-HRchanges · EDGAR ↗
Q3 2024$7.6B60Nov 12, 202413F-HRchanges · EDGAR ↗
Q2 2024$7.2B60Aug 5, 202413F-HRchanges · EDGAR ↗
Q1 2024$7.8B56Apr 17, 202413F-HRchanges · EDGAR ↗
Q4 2023$7.5B59Feb 5, 202413F-HRchanges · EDGAR ↗
Q3 2023$7.2B62Nov 6, 202313F-HRchanges · EDGAR ↗
Q2 2023$7.0B64Aug 3, 202313F-HRchanges · EDGAR ↗
Q1 2023$6.5B64May 4, 202313F-HRchanges · EDGAR ↗
Q4 2022Under review58Feb 10, 202313F-HRchanges · EDGAR ↗
Q3 2022$5.6B59Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$5.4B50Jul 29, 202213F-HRchanges · EDGAR ↗
Q1 2022$6.5B41May 5, 202213F-HRchanges · EDGAR ↗
Q4 2021$6.2B40Feb 16, 202213F-HRchanges · EDGAR ↗
Q3 2021$6.0B40Oct 28, 202113F-HRchanges · EDGAR ↗
Q2 2021$7.4B42Jul 2, 202113F-HRchanges · EDGAR ↗
Q1 2021$6.0B38Apr 22, 202113F-HRchanges · EDGAR ↗
Q4 2020$5.1B32Jan 5, 202113F-HRchanges · EDGAR ↗
Q3 2020$4.2B20Oct 5, 202013F-HRchanges · EDGAR ↗
Q2 2020$4.0B258Jul 6, 202013F-HRchanges · EDGAR ↗
Q1 2020$3.2B1,889Apr 29, 202013F-HRchanges · EDGAR ↗
Q4 2019$3.1B1,970Feb 3, 202013F-HRchanges · EDGAR ↗
Q3 2019$2.6B1,990Oct 29, 201913F-HRchanges · EDGAR ↗
Q2 2019$1.4B2,173Jul 31, 201913F-HRchanges · EDGAR ↗
Q1 2019$1.5B2,202May 15, 201913F-HRchanges · EDGAR ↗
Q4 2018$1.7B2,184Feb 14, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.