Municipal Employees' Retirement System of Michigan
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 11, 2026), Municipal Employees' Retirement System of Michigan reported 28 stock positions worth $8.8 billion. Its top holding was Invesco S&P 500 QVM Multi-Fa (QVML) at 14.8% of the portfolio, followed by SS SPDR P Int Term TSY ETF (SPTI, 12.6%) and iShares Core S&P 500 ETF (IVV, 12.1%). Compared with Q4 2025, it opened 1 new position, sold out of 9, added to 8 and reduced 7. The biggest buy was SS SPDR PF LNG TRM TSY E-Usd (SPTL, shares +49%) and the biggest sale Vanguard Ftse Europe ETF (VGK, shares −26%).
- Most Recent 13F
- Q2 2026
- Location
- LANSING, MI
- CIK
- 0001588873
- Portfolio Value
- $8.8B (Q1 2026)
- SEC Filing
- 0001588873-26-000003 ↗ filed May 11, 2026
Holdings Value
Holdings 28 stocks · $8.8B
| QVML Invesco S&P 500 QVM Multi-Fa | 14.83% | 34,132,010 | $1.3B | No change |
| SPTI SS SPDR P Int Term TSY ETF | 12.59% | 38,702,475 | $1.1B | Add +3.9% |
| IVV iShares Core S&P 500 ETF | 12.15% | 1,637,942 | $1.1B | Add +18.6% |
| SPTS SS SPDR P St Term TSY ETF | 9.31% | 28,085,205 | $819.5M | Add +8.5% |
| SPTL SS SPDR PF LNG TRM TSY E-Usd | 6.87% | 22,999,752 | $604.9M | Add +49.4% |
| VGK Vanguard Ftse Europe ETF | 6.33% | 6,764,865 | $557.6M | Reduce -26.0% |
| SCHP Schwab U.S. Tips ETF | 4.89% | 16,188,586 | $430.8M | Add +6.2% |
| SPIB SS SPDR P Int C Corp. ETF | 4.46% | 11,704,768 | $392.6M | No change |
| IJH iShares Core S&P Midcap ETF | 4.37% | 5,705,045 | $385.3M | Add +24.1% |
| QVMM Invesco S&P Midcap 400 QVM M | 4.28% | 11,882,576 | $376.6M | No change |
| XBB Bondbloxx-BB Rated Usd HY CB | 3.41% | 7,372,511 | $300.0M | No change |
| IEMG iShares Core MSCI Emerging | 2.62% | 3,313,829 | $231.1M | Reduce -36.6% |
| QVMS Invesco S&P Smallcap 600 QVM | 2.35% | 7,114,414 | $207.3M | No change |
| XEMD Bondbloxx-JPM Usd Em MK 1-10 | 2.35% | 4,714,975 | $207.2M | No change |
| SPHY SS SPDR P High Yield ETF | 2.17% | 8,191,734 | $191.0M | Add +36.5% |
| FLCA Franklin Ftse Canada ETF | 1.54% | 2,773,743 | $135.7M | No change |
| PICK iShares MSCI Global Metals & | 1.14% | 1,767,862 | $100.0M | Reduce -33.5% |
| FALN iShares Fallen Angels ETF | 1.11% | 3,657,064 | $97.7M | No change |
| XFIV Bondbloxx BBG 5 YR US Treas | 0.74% | 1,332,525 | $65.5M | Add +89.3% |
| RING iShares MSCI Global Gold Min | 0.70% | 776,753 | $61.3M | Reduce -8.0% |
| BBCA JPMorgan Betabuilders Canada | 0.68% | 639,622 | $60.2M | Reduce -29.7% |
| XLE SS Energy Select Sector | 0.33% | 474,882 | $29.1M | Reduce -52.1% |
| ICOP iShares Copper and Metals | 0.27% | 501,672 | $23.9M | Reduce -36.0% |
| BBAX JPMorgan Betabuilders Develo | 0.20% | 298,785 | $17.8M | No change |
| XB Bondbloxx-B Rated Usd HY CB | 0.12% | 266,860 | $10.4M | No change |
| COIN Coinbase Global Inc. Class A | 0.10% | 50,757 | $8.9M | New |
| XCCC Bondbloxx-CCC-Usd HY Corp. BD | 0.05% | 121,654 | $4.4M | No change |
| IJR iShares Core S&P Small-Cap E | 0.03% | 24,129 | $3.0M | No change |
Portfolio Sells Q4 2025 → Q1 2026
| VGK Vanguard Ftse Europe ETF | Reduce -26.0% | 6.33% | −2.31 |
| IEMG iShares Core MSCI Emerging | Reduce -36.6% | 2.62% | −1.35 |
| XONE Bondbloxx BBG 1 Dur US Treas | Sold out | 0.00% | −0.66 |
| PICK iShares MSCI Global Metals & | Reduce -33.5% | 1.14% | −0.41 |
| BBCA JPMorgan Betabuilders Canada | Reduce -29.7% | 0.68% | −0.27 |
| XTWO Bondbloxx BBG 2Y US TSY ETF | Sold out | 0.00% | −0.23 |
| XTRE Bondbloxx BBG 3Y US TSY ETF | Sold out | 0.00% | −0.23 |
| XSVN Bondbloxx BBG 7 YR US Treas | Sold out | 0.00% | −0.22 |
| XTEN Bondbloxx BBG 10Y US TSY ETF | Sold out | 0.00% | −0.21 |
| XTWY Bondbloxx BBG 20Y US TSY ETF | Sold out | 0.00% | −0.18 |
| XLE SS Energy Select Sector | Reduce -52.1% | 0.33% | −0.17 |
| ICOP iShares Copper and Metals | Reduce -36.0% | 0.27% | −0.12 |
| STIP iShares 0-5 Year Tips Bond E | Sold out | 0.00% | −0.11 |
| VGSH Vanguard Short-Term Treasury | Sold out | 0.00% | −0.09 |
| SPSB SS SPDR P St C Corp. ETF | Sold out | 0.00% | −0.08 |
| RING iShares MSCI Global Gold Min | Reduce -8.0% | 0.70% | −0.01 |
Portfolio Buys Q4 2025 → Q1 2026
| SPTL SS SPDR PF LNG TRM TSY E-Usd | Add +49.4% | 6.87% | +2.26 |
| IVV iShares Core S&P 500 ETF | Add +18.6% | 12.15% | +1.45 |
| IJH iShares Core S&P Midcap ETF | Add +24.1% | 4.37% | +0.94 |
| SPTS SS SPDR P St Term TSY ETF | Add +8.5% | 9.31% | +0.73 |
| SPHY SS SPDR P High Yield ETF | Add +36.5% | 2.17% | +0.56 |
| SPTI SS SPDR P Int Term TSY ETF | Add +3.9% | 12.59% | +0.44 |
| XFIV Bondbloxx BBG 5 YR US Treas | Add +89.3% | 0.74% | +0.35 |
| SCHP Schwab U.S. Tips ETF | Add +6.2% | 4.89% | +0.32 |
| COIN Coinbase Global Inc. Class A | New | 0.10% | +0.10 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 30 | $9.1B | QVML, IVV, SPTI, SPTS, VGK |
| Q1 2026 | 28 | $8.8B | QVML, SPTI, IVV, SPTS, SPTL |
| Q4 2025 | 36 | $8.8B | QVML, SPTI, IVV, VGK, SPTS |
| Q3 2025 | 45 | $8.6B | QVML, SPTI, IVV, VGK, SPTS |
| Q2 2025 | 45 | $8.3B | QVML, SPTI, IVV, VGK, SPTS |
| Q1 2025 | 46 | $7.9B | QVML, SPTI, IVV, SPTS, VGK |
| Q4 2024 | 49 | $7.3B | QVML, IVV, SPTI, SPTS, SCHP |
| Q3 2024 | 49 | $7.6B | QVML, IVV, SPTI, SPTS, IPAC |
| Q2 2024 | 49 | $7.2B | QVML, IVV, SPTI, SPTS, IPAC |
| Q1 2024 | 45 | $7.8B | IVV, QVML, SPTI, SPTS, IEMG |