SEC 13F Intelligence

Managers / Q4 2019 · view latest →

Municipal Employees' Retirement System of Michigan

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

Reported Value
$3.1B
Q4 2019
Positions
1,970
Filings on Record
30
2019–present window
Filed
Feb 3, 2020
original filing

Summary

Municipal Employees' Retirement System Of Michigan reported $3.1B in U.S.-listed holdings across 1,970 positions for Q4 2019.

Its largest position, IVV, represents 16.0% of the portfolio.

Compared with Q3 2019, the fund opened 41 new positions and exited 54.

Portfolio Metrics

Turnover
+9.3%
vs prior filed quarter
Top-10 Concentration
+52.6%
share of reported value
Largest Position
+16.0%
Ishares Core Sp 500 Etf
New / Exited
41 / 54
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: 43.6%ETP: 36.8%US GOVERNMENT: 15.7%REIT: 2.3%Other: 1.0%Other: 0.6%
  • Common Stock · 43.6% · $1.3B
  • ETP · 36.8% · $1.1B
  • US GOVERNMENT · 15.7% · $484M
  • REIT · 2.3% · $72M
  • Other · 1.0% · $32M
  • Other · 0.6% · $17M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2019 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
SPTSSPDR PORTFOLIO SHORT TERM TREANEW+3.89M3.89M+$117M$117M
SPTLSPDR PORTFOLIO LONG TERM TREASNEW+1.70M1.70M+$66M$66M
VGITVANGUARD INTERMEDIATE TERM TRENEW+902.9K902.9K+$60M$60M
COSTCO WHOLESALE CORPNEW+5.00M5.00M+$5M$5M
BERKSHIRE HATHAWAY FINNEW+4.55M4.55M+$5M$5M
TFCTRUIST FINANCIAL CORPNEW+44.0K44.0K+$2M$2M
VIACOMCBS INC CLASS BNEW+36.5K36.5K+$2M$2M
DAYCERIDIAN HCM HOLDING INCNEW+18.4K18.4K+$1M$1M

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

Holdings — Q4 2019

423 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1IVVISHARES CORE SP 500 ETFhistory →COM16.00%$494M1.53M
2US TREASURY NBCOM15.67%$484M484.00M
3SPTISPDR PORTFOLIO INTERMEDIATE TEhistory →COM7.30%$226M7.30M
4SPTSSPDR PORTFOLIO SHORT TERM TREAhistory →COM3.77%$117M3.89M
5SPTLSPDR PORTFOLIO LONG TERM TREAShistory →COM2.14%$66M1.70M
6STIPISHARES 0 5 YEAR TIPS BOND ETFhistory →COM1.95%$60M598.4K
7VGITVANGUARD INTERMEDIATE TERM TREhistory →COM1.93%$60M902.9K
8MBBISHARES MBS ETFhistory →COM1.63%$50M465.3K
9FLRNSPDR BLOOMBERG BARCLAYS INVESThistory →COM1.46%$45M1.47M
10AAPLAPPLE INChistory →COM0.71%$22M74.7K
11MSFTMICROSOFT CORPhistory →COM0.68%$21M133.4K
12IGSBISHARES SHORT TERM CORPORATE Bhistory →COM0.49%$15M282.5K
13GOOGALPHABET INC CL CCOM0.49%$15M11.3K
14AMZNAMAZONCOM INChistory →COM0.47%$15M7.9K
15METAFACEBOOK INC CLASS Ahistory →COM0.35%$11M52.9K
16COSTCOSTCO WHOLESALE CORPCOM0.33%$10M5.02M
17JPMJPMORGAN CHASE COhistory →COM0.33%$10M73.4K
18BRK/BBERKSHIRE HATHAWAY INC CL BCOM0.32%$10M44.1K
19JNJJOHNSON JOHNSONCOM0.30%$9M64.3K
20VVISA INC CLASS A SHARESCOM0.27%$8M44.5K
21UNHUNITEDHEALTH GROUP INCCOM0.26%$8M27.7K
22BACBANK OF AMERICA CORPCOM0.26%$8M229.9K
23PGPROCTER GAMBLE COTHECOM0.26%$8M63.4K
24INTCINTEL CORPCOM0.25%$8M130.5K
25TATT INCCOM0.25%$8M197.9K
26MAMASTERCARD INC ACOM0.25%$8M25.8K
27EXMOCEXXON MOBIL CORPCOM0.25%$8M110.2K
28DISWALT DISNEY COTHECOM0.24%$7M51.4K
29MRKMERCK CO INCCOM0.23%$7M78.7K
30VZVERIZON COMMUNICATIONS INCCOM0.23%$7M116.2K
31PFEPFIZER INCCOM0.22%$7M174.3K
32CVXCHEVRON CORPCOM0.22%$7M56.4K
33WFCWELLS FARGO COCOM0.22%$7M125.2K
34HDHOME DEPOT INCCOM0.21%$7M30.4K
35ADBEADOBE INCCOM0.21%$7M19.9K
36KOCOCA COLA COTHECOM0.21%$7M118.3K
37CSCOCISCO SYSTEMS INCCOM0.21%$6M135.1K
38CCITIGROUP INCCOM0.21%$6M80.3K
39CMCSACOMCAST CORP CLASS ACOM0.20%$6M140.3K
40NVDANVIDIA CORPCOM0.20%$6M26.4K
41AMGNAMGEN INCCOM0.20%$6M25.7K
42NFLXNETFLIX INCCOM0.20%$6M19.1K
43PEPPEPSICO INCCOM0.20%$6M45.2K
44ACNACCENTURE PLC CL ACOM0.19%$6M28.1K
45MDTMEDTRONIC PLCCOM0.19%$6M51.9K
46WMTWALMART INCCOM0.19%$6M49.5K
47ABTABBOTT LABORATORIESCOM0.19%$6M67.6K
48ABBVABBVIE INCCOM0.19%$6M66.3K
49CRMSALESFORCECOM INCCOM0.19%$6M36.0K
50BABOEING COTHECOM0.19%$6M17.8K
51NKENIKE INC CL BCOM0.18%$6M55.9K
52MCDMCDONALD S CORPCOM0.18%$6M28.3K
53UNPUNION PACIFIC CORPCOM0.18%$6M30.4K
54PMPHILIP MORRIS INTERNATIONALCOM0.18%$6M64.6K
55TXNTEXAS INSTRUMENTS INCCOM0.18%$5M42.6K
56UTXZUNITED TECHNOLOGIES CORPCOM0.18%$5M36.2K
57HONHONEYWELL INTERNATIONAL INCCOM0.17%$5M30.4K
58NEENEXTERA ENERGY INCCOM0.17%$5M21.7K
59IBMINTL BUSINESS MACHINES CORPCOM0.17%$5M38.6K
60ORCLORACLE CORPCOM0.16%$5M95.4K
61BERKSHIRE HATHAWAY FINCOM0.15%$5M4.55M
62IWMISHARES RUSSELL 2000 ETFCOM0.14%$4M26.1K
63AXPAMERICAN EXPRESS COCOM0.13%$4M32.3K
64USBUS BANCORPCOM0.12%$4M62.1K
65VISA INCCOM0.12%$4M3.62M
66IMKTAINGLES MARKETS INC CLASS ACOM0.10%$3M64.1K
67DUKDUKE ENERGY CORPCOM0.10%$3M32.6K
68MSMORGAN STANLEYCOM0.09%$3M56.4K
69CBCHUBB LTDCOM0.09%$3M17.4K
70SOSOUTHERN COTHECOM0.09%$3M42.0K
71PNCPNC FINANCIAL SERVICES GROUPCOM0.08%$3M16.1K
72ZBRAZEBRA TECHNOLOGIES CORP CL ACOM0.08%$3M10.0K
73FISFIDELITY NATIONAL INFO SERVCOM0.08%$3M18.3K
74TFCTRUIST FINANCIAL CORPCOM0.08%$2M44.0K
75STESTERIS PLCCOM0.08%$2M15.7K
76GSGOLDMAN SACHS GROUP INCCOM0.08%$2M10.3K
77TDYTELEDYNE TECHNOLOGIES INCCOM0.08%$2M6.8K
78MMM3M COCOM0.08%$2M13.2K
79DPZDOMINO S PIZZA INCCOM0.07%$2M7.7K
80CITRIX SYSTEMS INCCOM0.07%$2M20.1K
81RSGREPUBLIC SERVICES INCCOM0.07%$2M24.6K
82GILDGILEAD SCIENCES INCCOM0.07%$2M33.6K
83AFLAFLAC INCCOM0.07%$2M41.2K
84HIGHARTFORD FINANCIAL SVCS GRPCOM0.07%$2M35.8K
85FNMA POOL AY4230COM0.07%$2M2.14M
86TERTERADYNE INCCOM0.07%$2M31.5K
87TYLTYLER TECHNOLOGIES INCCOM0.07%$2M7.2K
88YUSDALLEGHANY CORPCOM0.07%$2M2.7K
89BMYBRISTOL MYERS SQUIBB COCOM0.07%$2M33.3K
90CNXNPC CONNECTION INCCOM0.07%$2M43.0K
91DDOMINION ENERGY INCCOM0.07%$2M25.7K
92WSTWEST PHARMACEUTICAL SERVICESCOM0.07%$2M13.7K
93FICOFAIR ISAAC CORPCOM0.06%$2M5.4K
94ALLALLSTATE CORPCOM0.06%$2M17.4K
95TRMBTRIMBLE INCCOM0.06%$2M46.7K
96MPTMEDICAL PROPERTIES TRUST INCCOM0.06%$2M92.1K
97SMART GLOBAL HOLDINGS INCCOM0.06%$2M51.0K
98MEDICINES COMPANYCOM0.06%$2M22.6K
99BLACKROCK INCCOM0.06%$2M3.8K
100VNOVORNADO REALTY TRUSTCOM0.06%$2M28.7K

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 ↗.