Municipal Employees' Retirement System of Michigan

In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 10, 2026), Municipal Employees' Retirement System of Michigan reported 30 stock positions worth $9.1 billion. Its top holding was Invesco S&P 500 QVM Multi-Fa (QVML) at 14.9% of the portfolio, followed by iShares Core S&P 500 ETF (IVV, 13.5%) and SS SPDR P Int Term TSY ETF (SPTI, 11.6%). Compared with Q1 2026, it opened 2 new positions, added to 2 and reduced 8. The biggest buy was a new position in Invesco S&P 500 Equal Weight (RSP) and the biggest sale SS SPDR P St Term TSY ETF (SPTS, shares −19%).

Most Recent 13F
Q2 2026
Location
LANSING, MI
CIK
0001588873
Portfolio Value
$9.1B (Q2 2026)
SEC Filing
0001588873-26-000004 ↗ filed Aug 10, 2026

Holdings Value

0$2.0B$4.0B$6.0B$8.0B$10.0B Q1 2024: $7.8B Q1 2024 Q2 2024: $7.2B Q2 2024 Q3 2024: $7.6B Q3 2024 Q4 2024: $7.3B Q4 2024 Q1 2025: $7.9B Q1 2025 Q2 2025: $8.3B Q2 2025 Q3 2025: $8.6B Q3 2025 Q4 2025: $8.8B Q4 2025 Q1 2026: $8.8B Q1 2026 Q2 2026: $9.1B $9.1B Q2 2026

Holdings 30 stocks · $9.1B
QVML Invesco S&P 500 QVM Multi-Fa 14.88% 30,516,713 $1.3B Reduce -10.6%
IVV iShares Core S&P 500 ETF 13.55% 1,637,942 $1.2B No change
SPTI SS SPDR P Int Term TSY ETF 11.59% 36,956,056 $1.0B Reduce -4.5%
SPTS SS SPDR P St Term TSY ETF 7.27% 22,686,978 $658.1M Reduce -19.2%
VGK Vanguard Ftse Europe ETF 6.50% 6,644,476 $588.3M Reduce -1.8%
SPTL SS SPDR PF LNG TRM TSY E-Usd 5.68% 19,609,770 $514.4M Reduce -14.7%
IJH iShares Core S&P Midcap ETF 4.86% 5,705,045 $439.9M No change
SCHP Schwab U.S. Tips ETF 4.74% 16,188,586 $429.0M No change
QVMM Invesco S&P Midcap 400 QVM M 4.73% 11,882,576 $428.2M No change
SPIB SS SPDR P Int C Corp. ETF 4.39% 11,879,902 $397.5M Add +1.5%
XBB Bondbloxx-BB Rated Usd HY CB 3.34% 7,372,511 $302.2M No change
QVMS Invesco S&P Smallcap 600 QVM 2.76% 7,114,414 $249.4M No change
IEMG iShares Core MSCI Emerging 2.72% 2,975,052 $246.5M Reduce -10.2%
XEMD Bondbloxx-JPM Usd Em MK 1-10 2.34% 4,714,975 $211.8M No change
SPHY SS SPDR P High Yield ETF 2.12% 8,191,734 $192.0M No change
RSP Invesco S&P 500 Equal Weight 1.76% 748,708 $159.3M New
FLCA Franklin Ftse Canada ETF 1.58% 2,773,743 $142.8M No change
FALN iShares Fallen Angels ETF 1.40% 4,657,064 $126.9M Add +27.3%
PICK iShares MSCI Global Metals & 1.14% 1,767,862 $102.8M No change
XFIV Bondbloxx BBG 5 YR US Treas 0.72% 1,332,525 $64.9M No change
RING iShares MSCI Global Gold Min 0.55% 776,753 $50.2M No change
BBCA JPMorgan Betabuilders Canada 0.53% 478,673 $47.6M Reduce -25.2%
XLE SS Energy Select Sector 0.28% 474,882 $25.2M No change
ICOP iShares Copper and Metals 0.27% 501,672 $24.7M No change
XB Bondbloxx-B Rated Usd HY CB 0.12% 266,860 $10.5M No change
COIN Coinbase Global Inc. Class A 0.08% 50,757 $7.4M No change
XCCC Bondbloxx-CCC-Usd HY Corp. BD 0.05% 121,654 $4.4M No change
IJR iShares Core S&P Small-Cap E 0.04% 24,129 $3.6M No change
FIGR Figure Technology Solut Class A 0.02% 68,729 $2.1M New
BBAX JPMorgan Betabuilders Develo 0.01% 8,785 $526K Reduce -97.1%

Portfolio Sells Q1 2026 → Q2 2026
SPTS SS SPDR P St Term TSY ETF Reduce -19.2% 7.27% −2.04
SPTL SS SPDR PF LNG TRM TSY E-Usd Reduce -14.7% 5.68% −1.19
SPTI SS SPDR P Int Term TSY ETF Reduce -4.5% 11.59% −1.01
BBAX JPMorgan Betabuilders Develo Reduce -97.1% 0.01% −0.20
BBCA JPMorgan Betabuilders Canada Reduce -25.2% 0.53% −0.16
QVML Invesco S&P 500 QVM Multi-Fa Reduce -10.6% 14.88% +0.05
IEMG iShares Core MSCI Emerging Reduce -10.2% 2.72% +0.10
VGK Vanguard Ftse Europe ETF Reduce -1.8% 6.50% +0.17

Portfolio Buys Q1 2026 → Q2 2026
RSP Invesco S&P 500 Equal Weight New 1.76% +1.76
FALN iShares Fallen Angels ETF Add +27.3% 1.40% +0.29
FIGR Figure Technology Solut Class A New 0.02% +0.02
SPIB SS SPDR P Int C Corp. ETF Add +1.5% 4.39% −0.07

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 30$9.1BQVML, IVV, SPTI, SPTS, VGK
Q1 2026 28$8.8BQVML, SPTI, IVV, SPTS, SPTL
Q4 2025 36$8.8BQVML, SPTI, IVV, VGK, SPTS
Q3 2025 45$8.6BQVML, SPTI, IVV, VGK, SPTS
Q2 2025 45$8.3BQVML, SPTI, IVV, VGK, SPTS
Q1 2025 46$7.9BQVML, SPTI, IVV, SPTS, VGK
Q4 2024 49$7.3BQVML, IVV, SPTI, SPTS, SCHP
Q3 2024 49$7.6BQVML, IVV, SPTI, SPTS, IPAC
Q2 2024 49$7.2BQVML, IVV, SPTI, SPTS, IPAC
Q1 2024 45$7.8BIVV, QVML, SPTI, SPTS, IEMG