Municipal Employees' Retirement System of Michigan

In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 5, 2024), Municipal Employees' Retirement System of Michigan reported 49 stock positions worth $7.2 billion. Its top holding was Invesco S&P 500 QVM Multi-Fa (QVML) at 13.6% of the portfolio, followed by iShares Core S&P 500 ETF (IVV, 11.2%) and SS SPDR P Int Term TSY ETF (SPTI, 10.3%). Compared with Q1 2024, it opened 6 new positions, sold out of 2, added to 11 and reduced 12. The biggest buy was iShares Core MSCI Pacific Et (IPAC, shares +37%) and the biggest sale iShares Core S&P 500 ETF (IVV, shares −23%).

Most Recent 13F
Q2 2026
Location
LANSING, MI
CIK
0001588873
Portfolio Value
$7.2B (Q2 2024)
SEC Filing
0001588873-24-000006 ↗ filed Aug 5, 2024

Holdings Value

0$2.0B$4.0B$6.0B$8.0B$10.0B Q1 2024: $7.8B Q1 2024 Q2 2024: $7.2B $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 Q2 2026

Holdings 49 stocks · $7.2B
QVML Invesco S&P 500 QVM Multi-Fa 13.60% 30,288,556 $980.9M No change
IVV iShares Core S&P 500 ETF 11.18% 1,473,408 $806.3M Reduce -23.4%
SPTI SS SPDR P Int Term TSY ETF 10.27% 26,424,332 $740.4M No change
SPTS SS SPDR P St Term TSY ETF 8.69% 21,697,170 $626.4M No change
IPAC iShares Core MSCI Pacific Et 5.44% 6,404,807 $392.1M Add +36.8%
SPTL SS SPDR PF LNG TRM TSY E-Usd 4.82% 12,764,462 $347.4M Add +9.8%
QVMM Invesco S&P Midcap 400 QVM M 4.07% 10,848,386 $293.5M No change
IEMG iShares Core MSCI Emerging 3.54% 4,773,111 $255.5M Reduce -39.8%
VGK Vanguard Ftse Europe ETF 3.47% 3,742,619 $249.9M Add +29.5%
VGSH Vanguard Short-Term Treasury 2.89% 3,590,033 $208.2M Reduce -17.3%
VGIT Vanguard Intermediate-Term T 2.74% 3,390,733 $197.4M No change
EMHC SS SPDR BB Em Usd Bond ETF 2.66% 8,069,786 $191.8M Reduce -20.7%
XEMD Bondbloxx-JPM Usd Em MK 1-10 2.61% 4,573,077 $187.9M Add +1.5%
QVMS Invesco S&P Smallcap 600 QVM 2.45% 7,092,740 $176.4M Reduce -17.5%
ISVL iShares International Develo 2.23% 4,592,859 $160.5M No change
BBEU JPMorgan Betabuilders Europe 2.20% 2,697,749 $158.8M No change
EMB iShares JP Morgan Usd Emergi 1.90% 1,547,548 $136.9M Reduce -26.5%
PICK iShares MSCI Global Metals & 1.65% 2,917,473 $119.1M Add +11.2%
XONE Bondbloxx BBG 1 Dur US Treas 1.64% 2,387,980 $118.3M No change
IJH iShares Core S&P Midcap ETF 1.63% 2,005,370 $117.4M Reduce -31.9%
RING iShares MSCI Global Gold Min 1.51% 3,955,383 $109.2M Add +2.1%
FLCA Franklin Ftse Canada ETF 1.27% 2,743,853 $91.9M Reduce -8.3%
GATO Gatos Silver Inc. 0.90% 6,205,259 $64.8M No change
MTBA Simplify MBS ETF 0.84% 1,198,715 $60.4M New
VGLT Vanguard Long-Term Treasury 0.67% 833,859 $48.1M Add +1.4%
BBAX JPMorgan Betabuilders Develo 0.61% 910,009 $44.0M No change
XBB Bondbloxx-BB Rated Usd HY CB 0.56% 1,007,952 $40.2M Add +1.2%
SPHY SS SPDR P High Yield ETF 0.48% 1,475,743 $34.3M Reduce -34.2%
XFIV Bondbloxx BBG 5 YR US Treas 0.47% 704,064 $34.0M No change
XLE SS Energy Select Sector 0.34% 272,548 $24.8M Reduce -25.7%
XHLF Bondbloxx BBG 6 MTH US Treas 0.31% 448,334 $22.5M Add +2.3%
XTWO Bondbloxx BBG 2Y US TSY ETF 0.28% 416,558 $20.4M No change
XTRE Bondbloxx BBG 3Y US TSY ETF 0.27% 402,313 $19.6M No change
XSVN Bondbloxx BBG 7 YR US Treas 0.26% 403,857 $19.0M No change
XTEN Bondbloxx BBG 10Y US TSY ETF 0.26% 403,452 $18.5M No change
XTWY Bondbloxx BBG 20Y US TSY ETF 0.24% 420,244 $17.2M No change
SPYM Ste STR SPDR PT S&P 500 ETF 0.17% 188,321 $12.1M New
STIP iShares 0-5 Year Tips Bond E 0.15% 109,272 $10.9M Reduce -0.1%
XB Bondbloxx-B Rated Usd HY CB 0.14% 266,860 $10.4M No change
SPDW Ste STR SPDR PT DW Eu ETF 0.13% 267,051 $9.4M New
SPSB SS SPDR P St C Corp. ETF 0.10% 239,775 $7.1M No change
MBB iShares MBS ETF 0.10% 74,870 $6.9M Reduce -93.0%
SPIB SS SPDR P Int C Corp. ETF 0.07% 155,260 $5.1M Add +3.4%
XCCC Bondbloxx-CCC-Usd HY Corp. BD 0.06% 121,654 $4.5M No change
SPEM State Street SP PTF Em ETF 0.06% 112,456 $4.2M New
IJR iShares Core S&P Small-Cap E 0.03% 20,735 $2.2M No change
HYBB iShares BB Rated Corp. Bond 0.02% 35,071 $1.6M Add +14.2%
SPMD SS SPDR P S&P 400 Midcap ETF 0.02% 25,664 $1.3M New
SPSM SS SPDR P S&P 600 Small Cap 0.01% 15,987 $664K New

Portfolio Sells Q1 2024 → Q2 2024
IVV iShares Core S&P 500 ETF Reduce -23.4% 11.18% −1.85
IEMG iShares Core MSCI Emerging Reduce -39.8% 3.54% −1.72
EWJV iShares MSCI Japan Value ETF Sold out 0.00% −1.30
MBB iShares MBS ETF Reduce -93.0% 0.10% −1.17
IJH iShares Core S&P Midcap ETF Reduce -31.9% 1.63% −0.68
EMB iShares JP Morgan Usd Emergi Reduce -26.5% 1.90% −0.53
EMHC SS SPDR BB Em Usd Bond ETF Reduce -20.7% 2.66% −0.51
QVMS Invesco S&P Smallcap 600 QVM Reduce -17.5% 2.45% −0.41
VGSH Vanguard Short-Term Treasury Reduce -17.3% 2.89% −0.36
SPHY SS SPDR P High Yield ETF Reduce -34.2% 0.48% −0.20
TUA Sim St Treas Fut Strat ETF Sold out 0.00% −0.18
XLE SS Energy Select Sector Reduce -25.7% 0.34% −0.10
FLCA Franklin Ftse Canada ETF Reduce -8.3% 1.27% −0.06
STIP iShares 0-5 Year Tips Bond E Reduce -0.1% 0.15% +0.01

Portfolio Buys Q1 2024 → Q2 2024
IPAC iShares Core MSCI Pacific Et Add +36.8% 5.44% +1.62
VGK Vanguard Ftse Europe ETF Add +29.5% 3.47% +0.96
MTBA Simplify MBS ETF New 0.84% +0.84
SPTL SS SPDR PF LNG TRM TSY E-Usd Add +9.8% 4.82% +0.64
RING iShares MSCI Global Gold Min Add +2.1% 1.51% +0.25
PICK iShares MSCI Global Metals & Add +11.2% 1.65% +0.24
XEMD Bondbloxx-JPM Usd Em MK 1-10 Add +1.5% 2.61% +0.19
SPYM Ste STR SPDR PT S&P 500 ETF New 0.17% +0.17
SPDW Ste STR SPDR PT DW Eu ETF New 0.13% +0.13
SPEM State Street SP PTF Em ETF New 0.06% +0.06
XBB Bondbloxx-BB Rated Usd HY CB Add +1.2% 0.56% +0.04
VGLT Vanguard Long-Term Treasury Add +1.4% 0.67% +0.04
XHLF Bondbloxx BBG 6 MTH US Treas Add +2.3% 0.31% +0.03
SPMD SS SPDR P S&P 400 Midcap ETF New 0.02% +0.02
SPSM SS SPDR P S&P 600 Small Cap New 0.01% +0.01
SPIB SS SPDR P Int C Corp. ETF Add +3.4% 0.07% +0.01
HYBB iShares BB Rated Corp. Bond Add +14.2% 0.02% +0.00

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