SEC 13F Intelligence

Managers / Q1 2020 · view latest →

Municipal Employees' Retirement System of Michigan

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

Reported Value
$3.2B
Q1 2020
Positions
1,889
Filings on Record
30
2019–present window
Filed
Apr 29, 2020
original filing

Summary

Municipal Employees' Retirement System Of Michigan reported $3.2B in U.S.-listed holdings across 1,889 positions for Q1 2020.

Its largest position, IVV, represents 17.0% of the portfolio.

Compared with Q4 2019, the fund opened 27 new positions and exited 94.

Portfolio Metrics

Turnover
+46.2%
vs prior filed quarter
Top-10 Concentration
+62.9%
share of reported value
Largest Position
+17.0%
Ishares Core S P 500 Etf
New / Exited
27 / 94
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
ETP: 65.2%Common Stock: 30.7%Other: 2.6%REIT: 1.5%Right: 0.0%
  • ETP · 65.2% · $2.1B
  • Common Stock · 30.7% · $969M
  • Other · 2.6% · $81M
  • REIT · 1.5% · $49M
  • Right · 0.0% · $38,000

Quarter-over-Quarter Changes full breakdown →

vs Q4 2019 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
ISHARES IBOXX HIGH YLD CORPNEW+4.42M4.42M+$341M$341M
SPYSPDR S&P 500 ETF TRUSTNEW+1.25M1.25M+$322M$322M
IEURISHARES CORE MSCI EUROPENEW+4.70M4.70M+$174M$174M
IEMGISHARES CORE MSCI EMERGINGNEW+4.10M4.10M+$166M$166M
SPDR BBG BARC HIGH YIELD BNDNEW+1.71M1.71M+$162M$162M
EMBISHARES JP MORGAN USD EMERGINEW+1.16M1.16M+$112M$112M
JPMORGAN BETABUILDERS JAPANNEW+3.28M3.28M+$67M$67M
USHYISHARES BROAD USD HIGH YIELDNEW+1.50M1.50M+$53M$53M

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

Holdings — Q1 2020

436 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1IVVISHARES CORE S&P 500 ETFhistory →COM17.00%$537M2.08M
2ISHARES IBOXX HIGH YLD CORPCOM10.79%$341M4.42M
3SPYSPDR S&P 500 ETF TRUSThistory →COM10.19%$322M1.25M
4IEURISHARES CORE MSCI EUROPEhistory →COM5.51%$174M4.70M
5IEMGISHARES CORE MSCI EMERGINGhistory →COM5.25%$166M4.10M
6SPDR BBG BARC HIGH YIELD BNDCOM5.14%$162M1.71M
7EMBISHARES JP MORGAN USD EMERGIhistory →COM3.56%$112M1.16M
8JPMORGAN BETABUILDERS JAPANCOM2.12%$67M3.28M
9USHYISHARES BROAD USD HIGH YIELDhistory →COM1.69%$53M1.50M
10VGKVANGUARD FTSE EUROPE ETFhistory →COM1.69%$53M1.23M
11SPTSSPDR PORT SHRT TRM TRSRYhistory →COM1.62%$51M1.66M
12STIPISHARES 05 YEAR TIPS BOND Ehistory →COM1.42%$45M449.7K
13MBBISHARES MBS ETFhistory →COM1.30%$41M373.3K
14MSFTMICROSOFT CORPhistory →COM0.67%$21M134.3K
15AAPLAPPLE INChistory →COM0.60%$19M74.2K
16AMZNAMAZONCOM INChistory →COM0.49%$15M7.9K
17METAFACEBOOK INCCOM0.28%$9M53.3K
18JNJJOHNSON & JOHNSONCOM0.27%$8M64.5K
19GOOGLALPHABET INCCL ACOM0.26%$8M7.1K
20BRK/BBERKSHIRE HATHAWAY INCCOM0.26%$8M44.3K
21NFLXNETFLIX INCCOM0.23%$7M19.2K
22VVISA INCCOM0.23%$7M44.5K
23INTCINTEL CORPCOM0.22%$7M129.9K
24PGPROCTER & GAMBLE CO/THECOM0.22%$7M63.6K
25NVDANVIDIA CORPCOM0.22%$7M26.5K
26UNHUNITEDHEALTH GROUP INCCOM0.22%$7M27.8K
27JPMJPMORGAN CHASE & COCOM0.21%$7M72.9K
28ADBEADOBE INCCOM0.20%$6M19.9K
29VZVERIZON COMMUNICATIONS INCCOM0.20%$6M116.7K
30MAMASTERCARD INCCOM0.20%$6M25.8K
31MRKMERCK & CO INCCOM0.19%$6M78.8K
32TAT&T INCCOM0.18%$6M198.8K
33PFEPFIZER INCCOM0.18%$6M175.0K
34HDHOME DEPOT INC/THECOM0.18%$6M30.4K
35WMTWALMART INCCOM0.18%$6M49.6K
36PEPPEPSICO INCCOM0.17%$5M45.3K
37ABTABBOTT LABORATORIESCOM0.17%$5M67.8K
38CSCOCISCO SYSTEMS INCCOM0.17%$5M135.6K
39KOCOCACOLA CO/THECOM0.17%$5M118.9K
40NEENEXTERA ENERGY INCCOM0.17%$5M21.7K
41CRMSALESFORCECOM INCCOM0.17%$5M36.3K
42AMGNAMGEN INCCOM0.16%$5M25.7K
43COSTCOSTCO WHOLESALE CORPCOM0.16%$5M18.1K
44ABBVABBVIE INCCOM0.16%$5M66.5K
45DISWALT DISNEY CO/THECOM0.16%$5M51.7K
46GOOGALPHABET INCCL CCOM0.16%$5M4.3K
47CMCSACOMCAST CORPCOM0.15%$5M140.9K
48BACBANK OF AMERICA CORPCOM0.15%$5M226.9K
49PMPHILIP MORRIS INTERNATIONAL INCOM0.15%$5M64.9K
50MCDMCDONALD'S CORPCOM0.15%$5M28.3K
51NKENIKE INCCOM0.15%$5M56.0K
52ORCLORACLE CORPCOM0.15%$5M95.4K
53IBMINTERNATIONAL BUSINESS MACHINECOM0.14%$4M38.8K
54UNPUNION PACIFIC CORPCOM0.14%$4M30.4K
55TXNTEXAS INSTRUMENTS INCCOM0.14%$4M42.8K
56EXMOCEXXON MOBIL CORPCOM0.13%$4M110.7K
57CVXCHEVRON CORPCOM0.13%$4M56.5K
58HONHONEYWELL INTERNATIONAL INCCOM0.13%$4M30.4K
59WFCWELLS FARGO & COCOM0.11%$4M123.5K
60UTXZUNITED TECHNOLOGIES CORPCOM0.11%$3M36.3K
61CCITIGROUP INCCOM0.11%$3M79.5K
62IWMISHARES RUSSELL 2000 ETFCOM0.09%$3M26.1K
63CITRIX SYSTEMS INCCOM0.09%$3M20.1K
64AXPAMERICAN EXPRESS COCOM0.09%$3M32.3K
65BABOEING CO/THECOM0.08%$3M17.8K
66DUKDUKE ENERGY CORPCOM0.08%$3M32.7K
67GILDGILEAD SCIENCES INCCOM0.08%$3M33.8K
68BLACKROCK INCCOM0.08%$2M5.5K
69DPZDOMINO'S PIZZA INCCOM0.07%$2M7.3K
70IMKTAINGLES MARKETS INCCOM0.07%$2M64.1K
71SOSOUTHERN CO/THECOM0.07%$2M42.3K
72FISFIDELITY NATIONAL INFORMATIONCOM0.07%$2M18.4K
73TYLTYLER TECHNOLOGIES INCCOM0.07%$2M7.3K
74USBUS BANCORPCOM0.07%$2M62.1K
75WSTWEST PHARMACEUTICAL SERVICES ICOM0.07%$2M13.9K
76TDYTELEDYNE TECHNOLOGIES INCCOM0.06%$2M6.8K
77MSMORGAN STANLEYCOM0.06%$2M56.4K
78APDAIR PRODUCTS AND CHEMICALS INCCOM0.06%$2M9.6K
79BMYBRISTOLMYERS SQUIBB COCOM0.06%$2M33.6K
80DDOMINION ENERGY INCCOM0.06%$2M25.8K
81FDSFACTSET RESEARCH SYSTEMS INCCOM0.06%$2M7.1K
82RSGREPUBLIC SERVICES INCCOM0.06%$2M24.6K
83MMM3M COCOM0.06%$2M13.3K
84CNXNPC CONNECTION INCCOM0.06%$2M43.0K
85TERTERADYNE INCCOM0.05%$2M31.5K
86CVSCVS HEALTH CORPCOM0.05%$2M28.7K
87LLYELI LILLY AND COCOM0.05%$2M12.1K
88MPTMEDICAL PROPERTIES TRUST INCCOM0.05%$2M97.1K
89FICOFAIR ISAAC CORPCOM0.05%$2M5.4K
90CHTRCHARTER COMMUNICATIONS INCCOM0.05%$2M3.8K
91WTRGESSENTIAL UTILITIES INCCOM0.05%$2M40.5K
92MOHMOLINA HEALTHCARE INCCOM0.05%$2M11.8K
93SRJSPARTANNASH COCOM0.05%$2M114.3K
94MASIMO CORPCOM0.05%$2M9.2K
95TMOTHERMO FISHER SCIENTIFIC INCCOM0.05%$2M5.8K
96CYEURCYPRESS SEMICONDUCTOR CORPCOM0.05%$2M69.3K
97PYPLPAYPAL HOLDINGS INCCOM0.05%$2M16.8K
98ALLALLSTATE CORP/THECOM0.05%$2M17.4K
99BROBROWN & BROWN INCCOM0.05%$2M43.9K
100GSGOLDMAN SACHS GROUP INC/THECOM0.05%$2M10.3K

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 ↗.