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MERSOM

Municipal Employees' Retirement System of Michigan Portfolio holdings

AUM $9.05B
1-Year Est. Return 13.04%
This Fund
S&P 500
This Quarter Est. Return
+1%
1 Year Est. Return
+13.04%
3 Year Est. Return
+34.61%
5 Year Est. Return
+23.86%
10 Year Est. Return
–
AUM
$7.9B
AUM Growth
+$643M
Cap. Flow
+$615M
Cap. Flow %
7.78%
Top 10 Hldgs %
74.71%
Holding
51
New
2
Increased
12
Reduced
5
Closed
5

Top Buys

Rank Stock Value
1
SPTI icon
State Street SPDR Portfolio Intermediate Term Treasury ETF
SPTI
+$266M
2
XBB icon
BondBloxx BB-Rated USD High Yield Corporate Bond ETF
XBB
+$210M
3
VGK icon
Vanguard FTSE Europe ETF
VGK
+$186M
4
QVML icon
Invesco S&P 500 QVM Multi-factor ETF
QVML
+$131M
5
SPHY icon
State Street SPDR Portfolio High Yield Bond ETF
SPHY
+$110M

Top Sells

Rank Stock Value
1
ISVL icon
iShares International Developed Small Cap Value Factor ETF
ISVL
+$158M
2
EMHC icon
State Street SPDR Bloomberg Emerging Markets USD Bond ETF
EMHC
+$154M
3
EMB icon
iShares JPMorgan USD Emerging Markets Bond ETF
EMB
+$138M
4
GATO
Gatos Silver, Inc.
GATO
+$86.8M
5
MTBA icon
Simplify MBS ETF
MTBA
+$38M

Sector Composition

Rank Sector Weight
1 Materials 0.6%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
XHLF icon
26
BondBloxx Bloomberg Six Month Target Duration US Treasury ETF
XHLF
$1.99B
$22.6M 0.29%
448,334
– –
XTWO icon
27
BondBloxx Bloomberg Two Year Target Duration US Treasury ETF
XTWO
$210M
$20.6M 0.26%
416,558
– –
XTRE icon
28
BondBloxx Bloomberg Three Year Target Duration US Treasury ETF
XTRE
$165M
$19.9M 0.25%
402,313
– –
XSVN icon
29
BondBloxx Bloomberg Seven Year Target Duration US Treasury ETF
XSVN
$391M
$19.3M 0.24%
403,857
– –
XTEN icon
30
BondBloxx Bloomberg Ten Year Target Duration US Treasury ETF
XTEN
$1.04B
$18.8M 0.24%
403,452
– –
XTWY icon
31
BondBloxx Bloomberg Twenty Year Target Duration US Treasury ETF
XTWY
$245M
$16.9M 0.21%
420,244
– –
ICOP icon
32
iShares Copper and Metals Mining ETF
ICOP
$474M
$14.4M 0.18%
+556,999
New +$14.8M
STIP icon
33
iShares 0-5 Year TIPS Bond ETF
STIP
$15.9B
$12.5M 0.16%
121,200
– –
SPYM
34
State Street SPDR Portfolio S&P 500 ETF
SPYM
$168B
$12.4M 0.16%
188,205
– –
XB icon
35
BondBloxx B-Rated USD High Yield Corporate Bond ETF
XB
$72.3M
$10.4M 0.13%
266,860
– –
SPDW icon
36
State Street SPDR Portfolio Developed World ex-US ETF
SPDW
$41.9B
$10.1M 0.13%
276,169
– –
VGSH icon
37
Vanguard Short-Term Treasury ETF
VGSH
$30.2B
$8.35M 0.11%
142,206
-106,977
-43% -$6.24M
SPSB icon
38
State Street SPDR Portfolio Short Term Corporate Bond ETF
SPSB
$10.8B
$6.87M 0.09%
228,061
– –
MBB icon
39
iShares MBS ETF
MBB
$39B
$6.33M 0.08%
67,551
+23,580
+54% +$2.18M
SPIB icon
40
State Street SPDR Portfolio Intermediate Term Corporate Bond ETF
SPIB
$11.5B
$5.46M 0.07%
164,166
-8,273
-5% -$273K
XCCC icon
41
BondBloxx CCC-Rated USD High Yield Corporate Bond ETF
XCCC
$268M
$4.6M 0.06%
121,654
– –
SPEM icon
42
State Street SPDR Portfolio Emerging Markets ETF
SPEM
$17.7B
$4.22M 0.05%
107,144
– –
IJR icon
43
iShares Core S&P Small-Cap ETF
IJR
$112B
$2.17M 0.03%
20,736
– –
HYBB icon
44
iShares BB Rated Corporate Bond ETF
HYBB
$428M
$1.78M 0.02%
38,566
-5,150
-12% -$239K
SPMD icon
45
State Street SPDR Portfolio S&P 400 Mid Cap ETF
SPMD
$19B
$1.38M 0.02%
26,947
– –
SPSM icon
46
State Street SPDR Portfolio S&P 600 Small Cap ETF
SPSM
$17.5B
$678K 0.01%
16,642
– –
EMB icon
47
iShares JPMorgan USD Emerging Markets Bond ETF
EMB
$14.9B
– –
-1,547,548
Closed -$138M
EMHC icon
48
State Street SPDR Bloomberg Emerging Markets USD Bond ETF
EMHC
$290M
– –
-6,460,066
Closed -$154M
ISVL icon
49
iShares International Developed Small Cap Value Factor ETF
ISVL
$332M
– –
-4,592,859
Closed -$158M
VGLT icon
50
Vanguard Long-Term Treasury ETF
VGLT
$10.3B
– –
-63,048
Closed -$3.49M
1
2
3

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VAS
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SFM
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AI
Ariel Investments Chicago, Illinois $8.93B AUM 29.58% 1-Year Est. Return
HI
Horizon Investments Charlotte, North Carolina $8.92B AUM 25.62% 1-Year Est. Return
PEA
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SUT
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MU
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WPL
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Municipal Employees' Retirement System of Michigan's Q1 2025 Portfolio in Review

As of Q1 2025, Municipal Employees' Retirement System of Michigan held 51 positions worth $7.9B, up 8.9% from $7.26B the previous quarter. Its ten largest holdings account for 75% of the portfolio.

Municipal Employees' Retirement System of Michigan deployed $615M of net new capital in Q1 2025, opening 2 new positions and adding to 12 existing holdings. Its largest new stake was First Majestic Silver: 7,123,410 shares worth $47.7M.

By sector, the portfolio is most concentrated in Materials at 0.6% of assets, down from 1.2% a quarter earlier.

On the sell side, the largest reduction was Simplify MBS ETF, an estimated $38M trimmed.

  • Municipal Employees' Retirement System of Michigan's largest Q1 2025 buy was First Majestic Silver: 7,123,410 shares worth $47.7M.
  • Municipal Employees' Retirement System of Michigan added most to State Street SPDR Portfolio Intermediate Term Treasury ETF in Q1 2025, an estimated $266M increase.
  • Municipal Employees' Retirement System of Michigan's biggest Q1 2025 reduction was Simplify MBS ETF, cutting an estimated $38M.
  • Municipal Employees' Retirement System of Michigan fully exited iShares International Developed Small Cap Value Factor ETF in Q1 2025, selling an estimated $158M.
  • Municipal Employees' Retirement System of Michigan's ten largest holdings make up 75% of its $7.9B portfolio in Q1 2025.
  • Municipal Employees' Retirement System of Michigan opened 2 new positions and closed 5 in Q1 2025.
  • Municipal Employees' Retirement System of Michigan's portfolio value rose 8.9% quarter-over-quarter to $7.9B.

Based on Municipal Employees' Retirement System of Michigan's 13F filing for Q1 2025, filed 7 May 2025.