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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
+5.22%
1 Year Est. Return
+13.04%
3 Year Est. Return
+34.61%
5 Year Est. Return
+23.86%
10 Year Est. Return
–
AUM
$8.31B
AUM Growth
+$412M
Cap. Flow
+$27.1M
Cap. Flow %
0.33%
Top 10 Hldgs %
76.6%
Holding
48
New
2
Increased
8
Reduced
5
Closed
3

Top Buys

Rank Stock Value
1
SPIB icon
State Street SPDR Portfolio Intermediate Term Corporate Bond ETF
SPIB
+$424M
2
VGK icon
Vanguard FTSE Europe ETF
VGK
+$177M
3
FALN icon
iShares Fallen Angels USD Bond ETF
FALN
+$91.7M
4
BBCA icon
JPMorgan BetaBuilders Canada ETF
BBCA
+$71.3M
5
IJH icon
iShares Core S&P Mid-Cap ETF
IJH
+$53.4M

Top Sells

Rank Stock Value
1
IPAC icon
iShares Core MSCI Pacific ETF
IPAC
+$399M
2
BBEU icon
JPMorgan BetaBuilders Europe ETF
BBEU
+$126M
3
MTBA icon
Simplify MBS ETF
MTBA
+$119M
4
XONE icon
BondBloxx Bloomberg One Year Target Duration US Treasury ETF
XONE
+$59.9M
5
SPTL icon
State Street SPDR Portfolio Long Term Treasury ETF
SPTL
+$59.1M

Sector Composition

Rank Sector Weight
1 Materials 0.61%
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 0.27%
448,334
– –
XTWO icon
27
BondBloxx Bloomberg Two Year Target Duration US Treasury ETF
XTWO
$210M
$20.6M 0.25%
416,558
– –
XTRE icon
28
BondBloxx Bloomberg Three Year Target Duration US Treasury ETF
XTRE
$165M
$20M 0.24%
402,313
– –
XSVN icon
29
BondBloxx Bloomberg Seven Year Target Duration US Treasury ETF
XSVN
$391M
$19.3M 0.23%
403,857
– –
XTEN icon
30
BondBloxx Bloomberg Ten Year Target Duration US Treasury ETF
XTEN
$1.04B
$18.6M 0.22%
403,452
– –
BBAX icon
31
JPMorgan BetaBuilders Developed Asia Pacific-ex Japan ETF
BBAX
$6.8B
$16.3M 0.2%
298,785
-611,224
-67% -$31.3M
XTWY icon
32
BondBloxx Bloomberg Twenty Year Target Duration US Treasury ETF
XTWY
$245M
$16.2M 0.2%
420,244
– –
SPYM
33
State Street SPDR Portfolio S&P 500 ETF
SPYM
$168B
$13.7M 0.16%
188,205
– –
STIP icon
34
iShares 0-5 Year TIPS Bond ETF
STIP
$15.9B
$12.5M 0.15%
121,200
– –
SPDW icon
35
State Street SPDR Portfolio Developed World ex-US ETF
SPDW
$41.9B
$11.2M 0.13%
276,169
– –
XB icon
36
BondBloxx B-Rated USD High Yield Corporate Bond ETF
XB
$72.3M
$10.6M 0.13%
266,860
– –
VGSH icon
37
Vanguard Short-Term Treasury ETF
VGSH
$30.2B
$8.36M 0.1%
142,206
– –
SPSB icon
38
State Street SPDR Portfolio Short Term Corporate Bond ETF
SPSB
$10.8B
$6.88M 0.08%
228,061
– –
MBB icon
39
iShares MBS ETF
MBB
$39B
$6.34M 0.08%
67,551
– –
XCCC icon
40
BondBloxx CCC-Rated USD High Yield Corporate Bond ETF
XCCC
$268M
$4.72M 0.06%
121,654
– –
SPEM icon
41
State Street SPDR Portfolio Emerging Markets ETF
SPEM
$17.7B
$4.58M 0.06%
107,144
– –
IJR icon
42
iShares Core S&P Small-Cap ETF
IJR
$112B
$2.64M 0.03%
24,129
+3,393
+16% +$351K
HYBB icon
43
iShares BB Rated Corporate Bond ETF
HYBB
$428M
$1.81M 0.02%
38,566
– –
SPMD icon
44
State Street SPDR Portfolio S&P 400 Mid Cap ETF
SPMD
$19B
$1.47M 0.02%
26,947
– –
SPSM icon
45
State Street SPDR Portfolio S&P 600 Small Cap ETF
SPSM
$17.5B
$709K 0.01%
16,642
– –
BBEU icon
46
JPMorgan BetaBuilders Europe ETF
BBEU
$9.52B
– –
-2,042,693
Closed -$126M
IPAC icon
47
iShares Core MSCI Pacific ETF
IPAC
$2.78B
– –
-6,404,807
Closed -$399M
MTBA icon
48
Simplify MBS ETF
MTBA
$1.49B
– –
-2,378,493
Closed -$119M
1
2

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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
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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 Q2 2025 Portfolio in Review

As of Q2 2025, Municipal Employees' Retirement System of Michigan held 48 positions worth $8.31B, up 5.2% from $7.9B the previous quarter. Its ten largest holdings account for 77% of the portfolio.

Municipal Employees' Retirement System of Michigan's Q2 2025 filing shows 2 new, 8 increased, 5 reduced and 3 closed positions. Its largest new stake was iShares Fallen Angels USD Bond ETF: 3,476,559 shares worth $94.4M. The largest sale was iShares Core MSCI Pacific ETF, an estimated $399M.

By sector, the portfolio is most concentrated in Materials at 0.61% of assets, up from 0.6% a quarter earlier.

  • Municipal Employees' Retirement System of Michigan's largest Q2 2025 buy was iShares Fallen Angels USD Bond ETF: 3,476,559 shares worth $94.4M.
  • Municipal Employees' Retirement System of Michigan added most to State Street SPDR Portfolio Intermediate Term Corporate Bond ETF in Q2 2025, an estimated $424M increase.
  • Municipal Employees' Retirement System of Michigan's biggest Q2 2025 reduction was BondBloxx Bloomberg One Year Target Duration US Treasury ETF, cutting an estimated $59.9M.
  • Municipal Employees' Retirement System of Michigan fully exited iShares Core MSCI Pacific ETF in Q2 2025, selling an estimated $399M.
  • Municipal Employees' Retirement System of Michigan's ten largest holdings make up 77% of its $8.31B portfolio in Q2 2025.
  • Municipal Employees' Retirement System of Michigan opened 2 new positions and closed 3 in Q2 2025.
  • Municipal Employees' Retirement System of Michigan's portfolio value rose 5.2% quarter-over-quarter to $8.31B.

Based on Municipal Employees' Retirement System of Michigan's 13F filing for Q2 2025, filed 4 Aug 2025.