SEC 13F Intelligence

Managers / Q3 2021 · view latest →

Municipal Employees' Retirement System of Michigan

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

Reported Value
$6.0B
Q3 2021
Positions
40
Filings on Record
30
2019–present window
Filed
Oct 28, 2021
original filing

Summary

Municipal Employees' Retirement System Of Michigan reported $6.0B in U.S.-listed holdings across 40 positions for Q3 2021.

The portfolio is heavily concentrated: IVV alone accounts for 22.0% of reported value.

Compared with Q2 2021, the fund opened 1 new position and exited 3.

Portfolio Metrics

Turnover
+4.9%
vs prior filed quarter
Top-10 Concentration
+84.9%
share of reported value
Largest Position
+22.0%
Ishares Core Sp 500 Etf
New / Exited
1 / 3
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: 98.8%Other: 1.2%
  • ETP · 98.8% · $5.9B
  • Other · 1.2% · $72M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2021 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
VGSHVANGUARD SHORTTERM TREASURYNEW+1.79M1.79M+$110M$110M
IEMGISHARES CORE MSCI EMERGINGADDED+3.67M6.33M+$213M$391M
IEFISHARES 7 10 YEAR TREASURY BSOLD OUT−1.11M0−$128M$0
SPYSPDR S P 500 ETF TRUSTSOLD OUT−5.3K0−$2M$0
MLKNHERMAN MILLER INCSOLD OUT−1020−$5,000$0
VGKVANGUARD FTSE EUROPE ETFTRIMMED−715.9K4.5K−$48M$294,000
HYBBISHARES BB RATED CORP BONDTRIMMED−318.6K244.3K−$17M$13M
IJHISHARES CORE SP MIDCAP ETFTRIMMED−852.0K891.0K−$234M$234M

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

Holdings — Q3 2021

27 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1IVVISHARES CORE SP 500 ETFhistory →COM21.97%$1.3B3.05M
2QVMLINVESCO SP 500 QVM MULTIFAhistory →COM12.63%$756M30.06M
3SPTSSPDR PORT SHRT TRM TRSRYhistory →COM12.50%$748M24.43M
4SPTISPDR PORT INT TREASURY TERMhistory →COM11.29%$676M20.92M
5IEMGISHARES CORE MSCI EMERGINGhistory →COM6.53%$391M6.33M
6EMBISHARES JP MORGAN USD EMERGIhistory →COM5.05%$302M2.75M
7JPMORGAN BETABUILDERS JAPANCOM4.02%$241M4.10M
8IJHISHARES CORE SP MIDCAP ETFhistory →COM3.92%$234M891.0K
9TLTISHARES 20 YEAR TREASURY BOhistory →COM3.76%$225M1.56M
10QVMMINVESCO SP MIDCAP 400 QVM Mhistory →COM3.28%$196M8.04M
11EMHCSPDR BLOOMBERG BARCLAYS EMERhistory →COM2.98%$178M5.91M
12EBNDSPDR BBG BARC EM LOCAL BONDhistory →COM2.14%$128M5.06M
13VGSHVANGUARD SHORTTERM TREASURYhistory →COM1.84%$110M1.79M
14MBBISHARES MBS ETFhistory →COM1.22%$73M674.7K
15GATOS SILVER INCCOM1.21%$72M6.21M
16PICKISHARES MSCI GLOBAL METALShistory →COM1.10%$66M1.61M
17RINGISHARES MSCI GLOBAL GOLD MINhistory →COM1.02%$61M2.47M
18LEMBISHARES JP MORGAN EM LOCAL Chistory →COM0.84%$50M1.19M
19INVESCO SP SMALLCAP 600 QVMCOM0.82%$49M2.01M
20STIPISHARES 05 YEAR TIPS BOND Ehistory →COM0.59%$35M334.1K
21IJRISHARES CORE SP SMALLCAP Ehistory →COM0.47%$28M256.1K
22XLEENERGY SELECT SECTOR SPDRhistory →COM0.34%$20M386.3K
23HYBBISHARES BB RATED CORP BONDhistory →COM0.21%$13M244.3K
24SPIBSPDR PORT INT CORP BOND ETFCOM0.11%$6M177.4K
25SPSBSPDR PORT SHRT TRM CORP BNDCOM0.11%$6M205.1K
26SPTLSPDR PORT LNG TRM TRSRYCOM0.08%$5M115.8K
27VGKVANGUARD FTSE EUROPE ETFCOM0.00%$294,0004.5K

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 ↗.