SEC 13F Intelligence

Managers / Q1 2021 · view latest →

Municipal Employees' Retirement System of Michigan

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

Reported Value
$6.0B
Q1 2021
Positions
38
Filings on Record
30
2019–present window
Filed
Apr 22, 2021
original filing

Summary

Municipal Employees' Retirement System Of Michigan reported $6.0B in U.S.-listed holdings across 38 positions for Q1 2021.

The portfolio is heavily concentrated: IVV alone accounts for 34.3% of reported value.

Compared with Q4 2020, the fund opened 6 new positions and exited 4.

Portfolio Metrics

Turnover
+2.1%
vs prior filed quarter
Top-10 Concentration
+86.9%
share of reported value
Largest Position
+34.3%
Ishares Core Sp 500 Etf
New / Exited
6 / 4
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: 95.5%Other: 4.5%
  • ETP · 95.5% · $5.7B
  • Other · 4.5% · $266M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2020 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
EBNDSPDR BBG BARC EM LOCAL BONDNEW+6.46M6.46M+$168M$168M
IEFISHARES 7 10 YEAR TREASURY BNEW+1.11M1.11M+$125M$125M
LEMBISHARES JP MORGAN EM LOCAL CNEW+1.19M1.19M+$50M$50M
SPIBSPDR PORT INT CORP BOND ETFNEW+549.0K549.0K+$20M$20M
SPSBSPDR PORT SHRT TRM CORP BNDNEW+366.2K366.2K+$11M$11M
VWOBVANGUARD EMERG MKTS GOV BNDNEW+57.7K57.7K+$4M$4M
STIPISHARES 0 5 YEAR TIPS BOND EADDED+108.4K210.9K+$12M$22M
TLTISHARES 20 YEAR TREASURY BOADDED+550.1K1.08M+$63M$147M

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

Holdings — Q1 2021

27 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1IVVISHARES CORE SP 500 ETFhistory →COM34.33%$2.0B5.15M
2SPTSSPDR PORT SHRT TRM TRSRYhistory →COM13.16%$785M25.60M
3SPTISPDR PORT INT TREASURY TERMhistory →COM10.83%$646M20.13M
4IJHISHARES CORE SP MIDCAP ETFhistory →COM7.58%$452M1.74M
5EMBISHARES JP MORGAN USD EMERGIhistory →COM6.93%$414M3.80M
6JPMORGAN BETABUILDERS JAPANCOM3.41%$204M7.15M
7IEMGISHARES CORE MSCI EMERGINGhistory →COM3.11%$186M2.88M
8EBNDSPDR BBG BARC EM LOCAL BONDhistory →COM2.82%$168M6.46M
9TLTISHARES 20 YEAR TREASURY BOhistory →COM2.46%$147M1.08M
10SPTLSPDR PORT LNG TRM TRSRYhistory →COM2.29%$136M3.50M
11VGKVANGUARD FTSE EUROPE ETFhistory →COM2.21%$132M2.09M
12IEFISHARES 7 10 YEAR TREASURY Bhistory →COM2.09%$125M1.11M
13MBBISHARES MBS ETFhistory →COM1.46%$87M804.0K
14PICKISHARES MSCI GLOBAL METALShistory →COM1.14%$68M1.61M
15GATOS SILVER INCCOM1.04%$62M6.21M
16USHYISHARES BROAD USD HIGH YIELDhistory →COM0.96%$57M1.39M
17LEMBISHARES JP MORGAN EM LOCAL Chistory →COM0.85%$50M1.19M
18HYBBISHARES BB RATED CORP BONDhistory →COM0.65%$39M752.4K
19FALNISHARES FALLEN ANGELS ETFhistory →COM0.46%$27M936.0K
20IJRISHARES CORE SP SMALL CAP Ehistory →COM0.45%$27M247.3K
21RINGISHARES MSCI GLOBAL GOLD MINhistory →COM0.45%$27M977.8K
22STIPISHARES 0 5 YEAR TIPS BOND Ehistory →COM0.37%$22M210.9K
23SPIBSPDR PORT INT CORP BOND ETFhistory →COM0.33%$20M549.0K
24XLEENERGY SELECT SECTOR SPDRhistory →COM0.32%$19M386.3K
25SPSBSPDR PORT SHRT TRM CORP BNDhistory →COM0.19%$11M366.2K
26VWOBVANGUARD EMERG MKTS GOV BNDCOM0.07%$4M57.7K
27SPYSPDR SP 500 ETF TRUSTCOM0.04%$2M5.3K

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 ↗.