SEC 13F Intelligence

Managers / Q3 2024 · view latest →

Municipal Employees' Retirement System of Michigan

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

Reported Value
$7.6B
Q3 2024
Positions
60
Filings on Record
30
2019–present window
Filed
Nov 12, 2024
original filing

Summary

Municipal Employees' Retirement System Of Michigan reported $7.6B in U.S.-listed holdings across 60 positions for Q3 2024.

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

The book was largely unchanged from Q2 2024.

Portfolio Metrics

Turnover
+1.4%
vs prior filed quarter
Top-10 Concentration
+67.7%
share of reported value
Largest Position
+13.6%
Invesco Sp 500 Qvm Multifa

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% · $7.5B
  • Other · 1.2% · $94M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2024 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
MTBASIMPLIFY MBS ETFADDED+1.94M3.14M+$101M$162M
RINGISHARES MSCI GLOBAL GOLD MINTRIMMED−1.70M2.25M−$35M$74M
JPMORGAN BETABUILDERS EUROPETRIMMED−655.1K2.04M−$32M$127M
EMHCSPDR BLOOMBERG EM USD BONDTRIMMED−1.59M6.48M−$29M$163M
HYBBISHARES BB RATED CORP BONDTRIMMED−6.6K28.5K−$264,000$1M
SPDR PORTFOLIO HIGH YIELD BOTRIMMED−237.5K1.24M−$5M$30M
XLEENERGY SELECT SECTOR SPDRADDED+38.7K311.2K+$2M$27M
STIPISHARES 05 YEAR TIPS BOND EADDED+11.2K120.4K+$1M$12M

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

Holdings — Q3 2024

49 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1QVMLINVESCO SP 500 QVM MULTIFAhistory →COM13.59%$1.0B30.37M
2IVVISHARES CORE SP 500 ETFhistory →COM10.94%$830M1.44M
3SPTISPDR PORT INT TREASURY TERMhistory →COM10.12%$768M26.42M
4SPTSSPDR PORT SHRT TRM TRSRYhistory →COM8.42%$639M21.71M
5IPACISHARES CORE MSCI PACIFIC EThistory →COM5.62%$426M6.40M
6SPTLSPDR PORT LNG TRM TRSRYhistory →COM4.89%$371M12.76M
7QVMMINVESCO SP MIDCAP 400 QVM Mhistory →COM4.15%$315M10.88M
8IEMGISHARES CORE MSCI EMERGINGhistory →COM3.61%$274M4.77M
9VGKVANGUARD FTSE EUROPE ETFhistory →COM3.51%$266M3.74M
10VGSHVANGUARD SHORTTERM TREASURYhistory →COM2.80%$213M3.60M
11VGITVANGUARD INTERMEDIATETERM Thistory →COM2.70%$205M3.39M
12XEMDBONDBLOXXJPM USD EM MK 110history →COM2.65%$201M4.70M
13INVESCO SP SMALLCAP 600 QVMCOM2.56%$194M7.11M
14ISVLISHARES INTERNATIONAL DEVELOhistory →COM2.30%$174M4.59M
15EMHCSPDR BLOOMBERG EM USD BONDhistory →COM2.14%$163M6.48M
16MTBASIMPLIFY MBS ETFhistory →COM2.13%$162M3.14M
17EMBISHARES JP MORGAN USD EMERGIhistory →COM1.91%$145M1.55M
18JPMORGAN BETABUILDERS EUROPECOM1.68%$127M2.04M
19PICKISHARES MSCI GLOBAL METALShistory →COM1.67%$127M2.93M
20IJHISHARES CORE SP MIDCAP ETFhistory →COM1.65%$125M2.01M
21XONEBONDBLOXX BBG 1 DUR US TREAShistory →COM1.57%$119M2.39M
22FLCAFRANKLIN FTSE CANADA ETFhistory →COM1.38%$104M2.77M
23GATOS SILVER INCCOM1.23%$94M6.21M
24RINGISHARES MSCI GLOBAL GOLD MINhistory →COM0.98%$74M2.25M
25VGLTVANGUARD LONGTERM TREASURYhistory →COM0.67%$51M827.7K
26JPMORGAN BETABUILDERS DEVELOCOM0.65%$49M910.0K
27XBBBONDBLOXXBB RATED USD HY CBhistory →COM0.56%$43M1.04M
28XFIVBONDBLOXX BBG 5 YR US TREAShistory →COM0.46%$35M704.1K
29SPDR PORTFOLIO HIGH YIELD BOCOM0.39%$30M1.24M
30XLEENERGY SELECT SECTOR SPDRhistory →COM0.36%$27M311.2K
31XHLFBONDBLOXX BBG 6 MTH US TREAShistory →COM0.30%$23M448.3K
32XTWOBONDBLOXX BBG 2Y US TSY ETFhistory →COM0.27%$21M416.6K
33XTREBONDBLOXX BBG 3Y US TSY ETFhistory →COM0.27%$20M402.3K
34XSVNBONDBLOXX BBG 7 YR US TREAShistory →COM0.26%$20M403.9K
35XTENBONDBLOXX BBG 10Y US TSY ETFhistory →COM0.26%$20M403.5K
36XTWYBONDBLOXX BBG 20Y US TSY ETFhistory →COM0.24%$19M420.2K
37SPYMSPDR PORTFOLIO SP 500 ETFhistory →COM0.17%$13M188.2K
38STIPISHARES 05 YEAR TIPS BOND Ehistory →COM0.16%$12M120.4K
39XBBONDBLOXXB RATED USD HY CBhistory →COM0.14%$11M266.9K
40SPDWSPDR PORTFOLIO DEVELOPED WORhistory →COM0.14%$10M276.2K
41SPSBSPDR PORT SHRT TRM CORP BNDCOM0.10%$8M259.7K
42MBBISHARES MBS ETFCOM0.10%$8M80.1K
43SPIBSPDR PORT INT CORP BOND ETFCOM0.07%$5M159.1K
44XCCCBONDBLOXXCCCUSD HY CORP BDCOM0.06%$5M121.7K
45SPDR PORTFOLIO EMERGING MARKCOM0.06%$5M110.1K
46IJRISHARES CORE SP SMALLCAP ECOM0.03%$2M20.7K
47SPMDSPDR PORTFOLIO SP 400 MID CCOM0.02%$1M26.9K
48HYBBISHARES BB RATED CORP BONDCOM0.02%$1M28.5K
49SPDR PORTFOLIO SP 600 SMALLCOM0.01%$757,00016.6K

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 ↗.