SEC 13F Intelligence

Managers / Q1 2024 · view latest →

Municipal Employees' Retirement System of Michigan

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

Reported Value
$7.8B
Q1 2024
Positions
56
Filings on Record
30
2019–present window
Filed
Apr 17, 2024
original filing

Summary

Municipal Employees' Retirement System Of Michigan reported $7.8B in U.S.-listed holdings across 56 positions for Q1 2024.

Its largest position, IVV, represents 13.0% of the portfolio.

Compared with Q4 2023, the fund opened 0 new positions and exited 1.

Portfolio Metrics

Turnover
+12.6%
vs prior filed quarter
Top-10 Concentration
+66.5%
share of reported value
Largest Position
+13.0%
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: 99.3%Other: 0.7%
  • ETP · 99.3% · $7.7B
  • Other · 0.7% · $52M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
SPTISPDR PORT INT TREASURY TERMADDED+20.45M26.42M+$574M$745M
IJHISHARES CORE SP MIDCAP ETFADDED+2.19M2.95M−$30M$179M
GDXJVANECK JUNIOR GOLD MINERSSOLD OUT−234.2K0−$9M$0
TUASIM ST TREAS FUT STRAT ETFTRIMMED−15.90M634.6K−$369M$14M
IJRISHARES CORE SP SMALLCAP ETRIMMED−246.0K20.7K−$27M$2M
XHLFBONDBLOXX BBG 6 MTH US TREASTRIMMED−1.28M438.3K−$64M$22M
SPTSSPDR PORT SHRT TRM TRSRYADDED+8.53M21.70M+$245M$627M
XTWOBONDBLOXX BBG 2Y US TSY ETFTRIMMED−728.2K416.6K−$36M$20M

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

Holdings — Q1 2024

45 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1IVVISHARES CORE SP 500 ETFhistory →COM13.04%$1.0B1.92M
2QVMLINVESCO SP 500 QVM MULTIFAhistory →COM12.14%$942M30.29M
3SPTISPDR PORT INT TREASURY TERMhistory →COM9.59%$745M26.42M
4SPTSSPDR PORT SHRT TRM TRSRYhistory →COM8.08%$627M21.70M
5IEMGISHARES CORE MSCI EMERGINGhistory →COM5.27%$409M7.92M
6SPTLSPDR PORT LNG TRM TRSRYhistory →COM4.18%$325M11.62M
7QVMMINVESCO SP MIDCAP 400 QVM Mhistory →COM3.95%$307M10.85M
8IPACISHARES CORE MSCI PACIFIC EThistory →COM3.82%$297M4.68M
9VGSHVANGUARD SHORTTERM TREASURYhistory →COM3.25%$252M4.34M
10EMHCSPDR BLOOMBERG EM USD BONDhistory →COM3.17%$246M10.18M
11INVESCO SP SMALLCAP 600 QVMCOM2.85%$221M8.60M
12VGITVANGUARD INTERMEDIATETERM Thistory →COM2.56%$199M3.39M
13VGKVANGUARD FTSE EUROPE ETFhistory →COM2.51%$195M2.89M
14EMBISHARES JP MORGAN USD EMERGIhistory →COM2.43%$189M2.10M
15XEMDBONDBLOXXJPM USD EM MK 110history →COM2.41%$187M4.50M
16IJHISHARES CORE SP MIDCAP ETFhistory →COM2.31%$179M2.95M
17ISVLISHARES INTERNATIONAL DEVELOhistory →COM2.10%$163M4.59M
18JPMORGAN BETABUILDERS EUROPECOM2.06%$160M2.70M
19XONEBONDBLOXX BBG 1 DUR US TREAShistory →COM1.53%$119M2.39M
20PICKISHARES MSCI GLOBAL METALShistory →COM1.41%$109M2.62M
21FLCAFRANKLIN FTSE CANADA ETFhistory →COM1.34%$104M2.99M
22EWJVISHARES MSCI JAPAN VALUE ETFhistory →COM1.30%$101M3.05M
23MBBISHARES MBS ETFhistory →COM1.27%$99M1.07M
24RINGISHARES MSCI GLOBAL GOLD MINhistory →COM1.26%$98M3.87M
25SPDR PORTFOLIO HIGH YIELD BOCOM0.68%$53M2.24M
26GATOS SILVER INCCOM0.67%$52M6.21M
27VGLTVANGUARD LONGTERM TREASURYhistory →COM0.63%$49M822.6K
28JPMORGAN BETABUILDERS DEVELOCOM0.56%$44M910.0K
29XBBBONDBLOXXBB RATED USD HY CBhistory →COM0.52%$40M996.4K
30XLEENERGY SELECT SECTOR SPDRhistory →COM0.45%$35M366.9K
31XFIVBONDBLOXX BBG 5 YR US TREAShistory →COM0.44%$34M704.1K
32XHLFBONDBLOXX BBG 6 MTH US TREAShistory →COM0.28%$22M438.3K
33XTWOBONDBLOXX BBG 2Y US TSY ETFhistory →COM0.26%$20M416.6K
34XTREBONDBLOXX BBG 3Y US TSY ETFhistory →COM0.25%$20M402.3K
35XSVNBONDBLOXX BBG 7 YR US TREAShistory →COM0.25%$19M403.9K
36XTENBONDBLOXX BBG 10Y US TSY ETFhistory →COM0.24%$19M403.5K
37XTWYBONDBLOXX BBG 20Y US TSY ETFhistory →COM0.23%$18M420.2K
38TUASIM ST TREAS FUT STRAT ETFhistory →COM0.18%$14M634.6K
39STIPISHARES 05 YEAR TIPS BOND Ehistory →COM0.14%$11M109.4K
40XBBONDBLOXXB RATED USD HY CBhistory →COM0.14%$11M266.9K
41SPSBSPDR PORT SHRT TRM CORP BNDCOM0.09%$7M239.8K
42SPIBSPDR PORT INT CORP BOND ETFCOM0.06%$5M150.2K
43XCCCBONDBLOXXCCCUSD HY CORP BDCOM0.06%$5M121.7K
44IJRISHARES CORE SP SMALLCAP ECOM0.03%$2M20.7K
45HYBBISHARES BB RATED CORP BONDCOM0.02%$1M30.7K

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 ↗.