SEC 13F Intelligence

Managers / Q1 2022 · view latest →

Municipal Employees' Retirement System of Michigan

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

Reported Value
$6.5B
Q1 2022
Positions
41
Filings on Record
30
2019–present window
Filed
May 5, 2022
original filing

Summary

Municipal Employees' Retirement System Of Michigan reported $6.5B in U.S.-listed holdings across 41 positions for Q1 2022.

The portfolio is heavily concentrated: IVV alone accounts for 21.9% of reported value.

Compared with Q4 2021, the fund opened 1 new position and exited 0.

Portfolio Metrics

Turnover
+7.2%
vs prior filed quarter
Top-10 Concentration
+80.8%
share of reported value
Largest Position
+21.9%
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: 99.6%Other: 0.4%
  • ETP · 99.6% · $6.4B
  • Other · 0.4% · $27M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2021 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
VGITVANGUARD INTERMEDIATE TERM TNEW+3.39M3.39M+$213M$213M
VGKVANGUARD FTSE EUROPE ETFADDED+3.69M3.69M+$230M$230M
JPMORGAN BETABUILDERS JAPANADDED+3.80M7.89M+$175M$400M
STIPISHARES 0 5 YEAR TIPS BOND ETRIMMED−215.3K119.5K−$23M$13M
EMBISHARES JP MORGAN USD EMERGIADDED+711.1K3.49M+$38M$342M
SPIBSPDR PORT INT CORP BOND ETFTRIMMED−39.3K134.4K−$2M$5M
SPTLSPDR PORT LNG TRM TRSRYTRIMMED−24.9K87.2K−$1M$3M
SPTSSPDR PORT SHRT TRM TRSRYTRIMMED−5.12M19.32M−$171M$573M

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

Holdings — Q1 2022

28 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1IVVISHARES CORE SP 500 ETFhistory →COM21.88%$1.4B3.12M
2QVMLINVESCO SP 500 QVM MULTI FAhistory →COM12.50%$809M30.31M
3SPTISPDR PORT INT TREASURY TERMhistory →COM9.80%$634M20.92M
4SPTSSPDR PORT SHRT TRM TRSRYhistory →COM8.85%$573M19.32M
5JPMORGAN BETABUILDERS JAPANCOM6.19%$400M7.89M
6IEMGISHARES CORE MSCI EMERGINGhistory →COM5.77%$373M6.72M
7EMBISHARES JP MORGAN USD EMERGIhistory →COM5.28%$342M3.49M
8IJHISHARES CORE SP MIDCAP ETFhistory →COM3.71%$240M894.2K
9VGKVANGUARD FTSE EUROPE ETFhistory →COM3.55%$230M3.69M
10VGITVANGUARD INTERMEDIATE TERM Thistory →COM3.30%$213M3.39M
11TLTISHARES 20 YEAR TREASURY BOhistory →COM3.19%$206M1.56M
12QVMMINVESCO SP MIDCAP 400 QVM Mhistory →COM3.11%$201M8.07M
13EMHCSPDR BLOOMBERG EM USD BONDhistory →COM2.47%$160M6.04M
14EBNDSPDR BLOOMBERG EM BONDhistory →COM1.94%$126M5.53M
15VGSHVANGUARD SHORT TERM TREASURYhistory →COM1.64%$106M1.79M
16PICKISHARES MSCI GLOBAL METALShistory →COM1.34%$87M1.69M
17RINGISHARES MSCI GLOBAL GOLD MINhistory →COM1.27%$82M2.64M
18MBBISHARES MBS ETFhistory →COM0.85%$55M537.1K
19INVESCO SP SMALLCAP 600 QVMCOM0.76%$49M2.02M
20LEMBISHARES JP MORGAN EM LOCAL Chistory →COM0.70%$45M1.23M
21XLEENERGY SELECT SECTOR SPDRhistory →COM0.49%$32M415.2K
22IJRISHARES CORE SP SMALL CAP Ehistory →COM0.43%$28M257.8K
23GATOS SILVER INCCOM0.41%$27M6.21M
24STIPISHARES 0 5 YEAR TIPS BOND Ehistory →COM0.19%$13M119.5K
25HYBBISHARES BB RATED CORP BONDhistory →COM0.18%$11M234.5K
26SPSBSPDR PORT SHRT TRM CORP BNDCOM0.09%$6M200.2K
27SPIBSPDR PORT INT CORP BOND ETFCOM0.07%$5M134.4K
28SPTLSPDR PORT LNG TRM TRSRYCOM0.05%$3M87.2K

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 ↗.