SEC 13F Intelligence

Managers / Q4 2020 · view latest →

Municipal Employees' Retirement System of Michigan

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

Reported Value
$5.1B
Q4 2020
Positions
32
Filings on Record
30
2019–present window
Filed
Jan 5, 2021
original filing

Summary

Municipal Employees' Retirement System Of Michigan reported $5.1B in U.S.-listed holdings across 32 positions for Q4 2020.

The portfolio is heavily concentrated: IVV alone accounts for 38.7% of reported value.

Compared with Q3 2020, the fund opened 11 new positions and exited 0.

Portfolio Metrics

Turnover
+3.9%
vs prior filed quarter
Top-10 Concentration
+90.6%
share of reported value
Largest Position
+38.7%
Ishares Core Sp 500 Etf

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: 94.5%Other: 5.5%Common Stock: 0.0%
  • ETP · 94.5% · $4.8B
  • Other · 5.5% · $281M
  • Common Stock · 0.0% · $4,000

Quarter-over-Quarter Changes full breakdown →

vs Q3 2020 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
IEMGISHARES CORE MSCI EMERGINGNEW+2.31M2.31M+$143M$143M
VGKVANGUARD FTSE EUROPE ETFNEW+2.08M2.08M+$125M$125M
GATOS SILVER INCNEW+6.21M6.21M+$81M$81M
USHYISHARES BROAD USD HIGH YIELDNEW+1.93M1.93M+$80M$80M
PICKISHARES MSCI GLOBAL METALSNEW+1.62M1.62M+$60M$60M
FALNISHARES FALLEN ANGELS ETFNEW+929.4K929.4K+$27M$27M
HYBBISHARES BB RATED CORP BONDNEW+500.8K500.8K+$26M$26M
RINGISHARES MSCI GLOBAL GOLD MINNEW+758.5K758.5K+$23M$23M

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

Holdings — Q4 2020

25 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1IVVISHARES CORE SP 500 ETFhistory →COM38.74%$2.0B5.29M
2SPTSSPDR PORT SHRT TRM TRSRYhistory →COM13.79%$707M23.03M
3SPTISPDR PORTFOLIO INTERMEDIATEhistory →COM11.60%$595M18.00M
4IJHISHARES CORE SP MIDCAP ETFhistory →COM8.69%$446M1.94M
5EMBISHARES JP MORGAN USD EMERGIhistory →COM5.21%$267M2.30M
6JPMORGAN BETABUILDERS JAPANCOM3.90%$200M7.15M
7IEMGISHARES CORE MSCI EMERGINGhistory →COM2.79%$143M2.31M
8VGKVANGUARD FTSE EUROPE ETFhistory →COM2.44%$125M2.08M
9SPTLSPDR PORT LNG TRM TRSRYhistory →COM1.83%$94M2.08M
10TLTISHARES 20 YEAR TREASURY BOhistory →COM1.64%$84M534.4K
11GATOS SILVER INCCOM1.58%$81M6.21M
12USHYISHARES BROAD USD HIGH YIELDhistory →COM1.55%$80M1.93M
13IJRISHARES CORE SP SMALL-CAP Ehistory →COM1.26%$65M704.7K
14PICKISHARES MSCI GLOBAL METALShistory →COM1.17%$60M1.62M
15MBBISHARES MBS ETFhistory →COM0.97%$50M454.0K
16IEURISHARES CORE MSCI EUROPEhistory →COM0.60%$31M596.6K
17FALNISHARES FALLEN ANGELS ETFhistory →COM0.53%$27M929.4K
18HYBBISHARES BB RATED CORP BONDhistory →COM0.51%$26M500.8K
19RINGISHARES MSCI GLOBAL GOLD MINhistory →COM0.44%$23M758.5K
20XLEENERGY SELECT SECTOR SPDRhistory →COM0.35%$18M472.4K
21STIPISHARES 05 YEAR TIPS BOND Ehistory →COM0.21%$11M102.5K
22EEMISHARES MSCI EMERGING MARKETCOM0.14%$7M143.3K
23SPYSPDR SP 500 ETF TRUSTCOM0.04%$2M5.3K
24MLKNHERMAN MILLER INCCOM0.00%$3,000102
25L L ENERGY INCCOM0.00%$1,00048.2K

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 ↗.