SEC 13F Intelligence

Managers / Q2 2024 · view latest →

Municipal Employees' Retirement System of Michigan

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

Reported Value
$7.2B
Q2 2024
Positions
60
Filings on Record
30
2019–present window
Filed
Aug 5, 2024
original filing

Summary

Municipal Employees' Retirement System Of Michigan reported $7.2B in U.S.-listed holdings across 60 positions for Q2 2024.

Its largest position, QVML, represents 13.6% of the portfolio.

Compared with Q1 2024, the fund opened 6 new positions and exited 2.

Portfolio Metrics

Turnover
+4.5%
vs prior filed quarter
Top-10 Concentration
+68.0%
share of reported value
Largest Position
+13.6%
Invesco Sp 500 Qvm Multifa
New / Exited
6 / 2
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: 99.1%Other: 0.9%
  • ETP · 99.1% · $7.1B
  • Other · 0.9% · $65M

Quarter-over-Quarter Changes full breakdown →

vs Q1 2024 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
MTBASIMPLIFY MBS ETFNEW+1.20M1.20M+$60M$60M
SPYMSPDR PORTFOLIO SP 500 ETFNEW+188.3K188.3K+$12M$12M
SPDWSPDR PORTFOLIO DEVELOPED WORNEW+267.1K267.1K+$9M$9M
SPDR PORTFOLIO EMERGING MARKNEW+112.5K112.5K+$4M$4M
SPMDSPDR PORTFOLIO SP 400 MID CNEW+25.7K25.7K+$1M$1M
SPDR PORTFOLIO SP 600 SMALLNEW+16.0K16.0K+$664,000$664,000
EWJVISHARES MSCI JAPAN VALUE ETFSOLD OUT−3.05M0−$101M$0
TUASIM ST TREAS FUT STRAT ETFSOLD OUT−634.6K0−$14M$0

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

Holdings — Q2 2024

49 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1QVMLINVESCO SP 500 QVM MULTIFAhistory →COM13.60%$981M30.29M
2IVVISHARES CORE SP 500 ETFhistory →COM11.18%$806M1.47M
3SPTISPDR PORT INT TREASURY TERMhistory →COM10.27%$740M26.42M
4SPTSSPDR PORT SHRT TRM TRSRYhistory →COM8.69%$626M21.70M
5IPACISHARES CORE MSCI PACIFIC EThistory →COM5.44%$392M6.40M
6SPTLSPDR PORT LNG TRM TRSRYhistory →COM4.82%$347M12.76M
7QVMMINVESCO SP MIDCAP 400 QVM Mhistory →COM4.07%$294M10.85M
8IEMGISHARES CORE MSCI EMERGINGhistory →COM3.54%$256M4.77M
9VGKVANGUARD FTSE EUROPE ETFhistory →COM3.47%$250M3.74M
10VGSHVANGUARD SHORTTERM TREASURYhistory →COM2.89%$208M3.59M
11VGITVANGUARD INTERMEDIATETERM Thistory →COM2.74%$197M3.39M
12EMHCSPDR BLOOMBERG EM USD BONDhistory →COM2.66%$192M8.07M
13XEMDBONDBLOXXJPM USD EM MK 110history →COM2.61%$188M4.57M
14INVESCO SP SMALLCAP 600 QVMCOM2.45%$176M7.09M
15ISVLISHARES INTERNATIONAL DEVELOhistory →COM2.23%$160M4.59M
16JPMORGAN BETABUILDERS EUROPECOM2.20%$159M2.70M
17EMBISHARES JP MORGAN USD EMERGIhistory →COM1.90%$137M1.55M
18PICKISHARES MSCI GLOBAL METALShistory →COM1.65%$119M2.92M
19XONEBONDBLOXX BBG 1 DUR US TREAShistory →COM1.64%$118M2.39M
20IJHISHARES CORE SP MIDCAP ETFhistory →COM1.63%$117M2.01M
21RINGISHARES MSCI GLOBAL GOLD MINhistory →COM1.51%$109M3.96M
22FLCAFRANKLIN FTSE CANADA ETFhistory →COM1.27%$92M2.74M
23GATOS SILVER INCCOM0.90%$65M6.21M
24MTBASIMPLIFY MBS ETFhistory →COM0.84%$60M1.20M
25VGLTVANGUARD LONGTERM TREASURYhistory →COM0.67%$48M833.9K
26JPMORGAN BETABUILDERS DEVELOCOM0.61%$44M910.0K
27XBBBONDBLOXXBB RATED USD HY CBhistory →COM0.56%$40M1.01M
28SPDR PORTFOLIO HIGH YIELD BOCOM0.48%$34M1.48M
29XFIVBONDBLOXX BBG 5 YR US TREAShistory →COM0.47%$34M704.1K
30XLEENERGY SELECT SECTOR SPDRhistory →COM0.34%$25M272.5K
31XHLFBONDBLOXX BBG 6 MTH US TREAShistory →COM0.31%$23M448.3K
32XTWOBONDBLOXX BBG 2Y US TSY ETFhistory →COM0.28%$20M416.6K
33XTREBONDBLOXX BBG 3Y US TSY ETFhistory →COM0.27%$20M402.3K
34XSVNBONDBLOXX BBG 7 YR US TREAShistory →COM0.26%$19M403.9K
35XTENBONDBLOXX BBG 10Y US TSY ETFhistory →COM0.26%$19M403.5K
36XTWYBONDBLOXX BBG 20Y US TSY ETFhistory →COM0.24%$17M420.2K
37SPYMSPDR PORTFOLIO SP 500 ETFhistory →COM0.17%$12M188.3K
38STIPISHARES 05 YEAR TIPS BOND Ehistory →COM0.15%$11M109.3K
39XBBONDBLOXXB RATED USD HY CBhistory →COM0.14%$10M266.9K
40SPDWSPDR PORTFOLIO DEVELOPED WORCOM0.13%$9M267.1K
41SPSBSPDR PORT SHRT TRM CORP BNDCOM0.10%$7M239.8K
42MBBISHARES MBS ETFCOM0.10%$7M74.9K
43SPIBSPDR PORT INT CORP BOND ETFCOM0.07%$5M155.3K
44XCCCBONDBLOXXCCCUSD HY CORP BDCOM0.06%$5M121.7K
45SPDR PORTFOLIO EMERGING MARKCOM0.06%$4M112.5K
46IJRISHARES CORE SP SMALLCAP ECOM0.03%$2M20.7K
47HYBBISHARES BB RATED CORP BONDCOM0.02%$2M35.1K
48SPMDSPDR PORTFOLIO SP 400 MID CCOM0.02%$1M25.7K
49SPDR PORTFOLIO SP 600 SMALLCOM0.01%$664,00016.0K

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 ↗.