SEC 13F Intelligence

Managers / Q2 2022 · view latest →

Municipal Employees' Retirement System of Michigan

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

Reported Value
$5.4B
Q2 2022
Positions
50
Filings on Record
30
2019–present window
Filed
Jul 29, 2022
original filing

Summary

Municipal Employees' Retirement System Of Michigan reported $5.4B in U.S.-listed holdings across 50 positions for Q2 2022.

Its largest position, IVV, represents 18.1% of the portfolio.

Compared with Q1 2022, the fund opened 11 new positions and exited 1.

Portfolio Metrics

Turnover
+16.0%
vs prior filed quarter
Top-10 Concentration
+75.5%
share of reported value
Largest Position
+18.1%
Ishares Core S P 500 Etf
New / Exited
11 / 1
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: 99.7%Other: 0.3%
  • ETP · 99.7% · $5.4B
  • Other · 0.3% · $18M

Quarter-over-Quarter Changes full breakdown →

vs Q1 2022 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
IPACISHARES CORE MSCI PACIFIC ETNEW+9.68M9.68M+$503M$503M
ISVLISHARES INTERNATIONAL DEVELONEW+4.53M4.53M+$130M$130M
FLCAFRANKLIN FTSE CANADA ETFNEW+2.65M2.65M+$81M$81M
ISHARES IBOXX HIGH YLD CORPNEW+539.4K539.4K+$40M$40M
XBBBONDBLOXX BB RATED USD HY CBNEW+996.4K996.4K+$38M$38M
USHYISHARES BROAD USD HIGH YIELDNEW+1.01M1.01M+$35M$35M
IEURISHARES CORE MSCI EUROPE ETFNEW+682.8K682.8K+$31M$31M
XBBONDBLOXX B RATED USD HY CBNEW+266.9K266.9K+$10M$10M

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

Holdings — Q2 2022

38 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1IVVISHARES CORE S P 500 ETFhistory →COM18.13%$983M2.59M
2QVMLINVESCO S P 500 QVM MULTI FAhistory →COM12.73%$690M30.52M
3IPACISHARES CORE MSCI PACIFIC EThistory →COM9.29%$503M9.68M
4SPTISPDR PORT INT TREASURY TERMhistory →COM7.42%$402M13.64M
5SPTSSPDR PORT SHRT TRM TRSRYhistory →COM6.86%$372M12.62M
6IEMGISHARES CORE MSCI EMERGINGhistory →COM5.26%$285M5.81M
7QVMMINVESCO S P MIDCAP 400 QVM Mhistory →COM4.14%$225M10.66M
8EMBISHARES JP MORGAN USD EMERGIhistory →COM4.13%$224M2.62M
9VGITVANGUARD INTERMEDIATE TERM Thistory →COM3.83%$207M3.39M
10IJHISHARES CORE S P MIDCAP ETFhistory →COM3.73%$202M894.2K
11TLTISHARES 20 YEAR TREASURY BOhistory →COM3.39%$184M1.60M
12ISVLISHARES INTERNATIONAL DEVELOhistory →COM2.40%$130M4.53M
13VGKVANGUARD FTSE EUROPE ETFhistory →COM2.09%$114M2.15M
14VGSHVANGUARD SHORT TERM TREASURYhistory →COM1.94%$105M1.79M
15EMHCSPDR BLOOMBERG EM USD BONDhistory →COM1.85%$100M4.32M
16INVESCO S P SMALLCAP 600 QVMCOM1.71%$92M4.39M
17PICKISHARES MSCI GLOBAL METALShistory →COM1.55%$84M2.36M
18FLCAFRANKLIN FTSE CANADA ETFhistory →COM1.49%$81M2.65M
19EBNDSPDR BLOOMBERG EM BONDhistory →COM1.22%$66M3.22M
20RINGISHARES MSCI GLOBAL GOLD MINhistory →COM1.07%$58M2.66M
21MBBISHARES MBS ETFhistory →COM0.92%$50M511.8K
22ISHARES IBOXX HIGH YLD CORPCOM0.73%$40M539.4K
23XBBBONDBLOXX BB RATED USD HY CBhistory →COM0.71%$38M996.4K
24USHYISHARES BROAD USD HIGH YIELDhistory →COM0.65%$35M1.01M
25IEURISHARES CORE MSCI EUROPE ETFhistory →COM0.57%$31M682.8K
26IJRISHARES CORE S P SMALL CAP Ehistory →COM0.44%$24M257.8K
27XLEENERGY SELECT SECTOR SPDRhistory →COM0.40%$22M301.4K
28GATOS SILVER INCCOM0.33%$18M6.21M
29STIPISHARES 0 5 YEAR TIPS BOND Ehistory →COM0.22%$12M115.8K
30XBBONDBLOXX B RATED USD HY CBhistory →COM0.19%$10M266.9K
31GDXJVANECK JUNIOR GOLD MINERSCOM0.17%$9M280.1K
32SPSBSPDR PORT SHRT TRM CORP BNDCOM0.10%$6M189.4K
33XCCCBONDBLOXX CCC USD HY CORP BDCOM0.09%$5M121.7K
34SGOVISHARES 0 3 MONTH TREASURY BCOM0.08%$4M44.4K
35SPIBSPDR PORT INT CORP BOND ETFCOM0.08%$4M128.2K
36SPTLSPDR PORT LNG TRM TRSRYCOM0.07%$4M110.5K
37HYBBISHARES BB RATED CORP BONDCOM0.04%$2M43.8K
38LEMBISHARES JP MORGAN EM LOCAL CCOM0.00%$1,00028

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 ↗.