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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
+4.74%
1 Year Est. Return
+13.04%
3 Year Est. Return
+34.61%
5 Year Est. Return
+23.86%
10 Year Est. Return
–
AUM
$8.64B
AUM Growth
+$326M
Cap. Flow
-$46.6M
Cap. Flow %
-0.54%
Top 10 Hldgs %
76.59%
Holding
45
New
–
Increased
–
Reduced
1
Closed
–

Top Buys

No buys this quarter

Top Sells

Rank Stock Value
1
AG icon
First Majestic Silver
AG
+$46.6M

Sector Composition

Rank Sector Weight
1 Materials 0.16%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
XTWO icon
26
BondBloxx Bloomberg Two Year Target Duration US Treasury ETF
XTWO
$210M
$20.6M 0.24%
416,558
– –
XTRE icon
27
BondBloxx Bloomberg Three Year Target Duration US Treasury ETF
XTRE
$165M
$20.1M 0.23%
402,313
– –
XSVN icon
28
BondBloxx Bloomberg Seven Year Target Duration US Treasury ETF
XSVN
$391M
$19.5M 0.23%
403,857
– –
XTEN icon
29
BondBloxx Bloomberg Ten Year Target Duration US Treasury ETF
XTEN
$1.04B
$18.8M 0.22%
403,452
– –
BBAX icon
30
JPMorgan BetaBuilders Developed Asia Pacific-ex Japan ETF
BBAX
$6.8B
$16.8M 0.19%
298,785
– –
XTWY icon
31
BondBloxx Bloomberg Twenty Year Target Duration US Treasury ETF
XTWY
$245M
$16.4M 0.19%
420,244
– –
SPYM
32
State Street SPDR Portfolio S&P 500 ETF
SPYM
$168B
$14.7M 0.17%
188,205
– –
AG icon
33
First Majestic Silver
AG
$9.44B
$13.8M 0.16%
1,126,289
-5,025,000
-82% -$46.6M
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
$11.8M 0.14%
276,169
– –
XB icon
36
BondBloxx B-Rated USD High Yield Corporate Bond ETF
XB
$72.3M
$10.6M 0.12%
266,860
– –
VGSH icon
37
Vanguard Short-Term Treasury ETF
VGSH
$30.2B
$8.37M 0.1%
142,206
– –
SPSB icon
38
State Street SPDR Portfolio Short Term Corporate Bond ETF
SPSB
$10.8B
$6.91M 0.08%
228,061
– –
MBB icon
39
iShares MBS ETF
MBB
$39B
$6.43M 0.07%
67,551
– –
SPEM icon
40
State Street SPDR Portfolio Emerging Markets ETF
SPEM
$17.7B
$5.01M 0.06%
107,144
– –
XCCC icon
41
BondBloxx CCC-Rated USD High Yield Corporate Bond ETF
XCCC
$268M
$4.78M 0.06%
121,654
– –
IJR icon
42
iShares Core S&P Small-Cap ETF
IJR
$112B
$2.87M 0.03%
24,129
– –
HYBB icon
43
iShares BB Rated Corporate Bond ETF
HYBB
$428M
$1.82M 0.02%
38,566
– –
SPMD icon
44
State Street SPDR Portfolio S&P 400 Mid Cap ETF
SPMD
$19B
$1.54M 0.02%
26,947
– –
SPSM icon
45
State Street SPDR Portfolio S&P 600 Small Cap ETF
SPSM
$17.5B
$771K 0.01%
16,642
– –
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
Horizon Investments Charlotte, North Carolina $8.92B AUM 25.62% 1-Year Est. Return
PEA
Platinum Equity Advisors Beverly Hills, California $8.88B AUM 27.09% 1-Year Est. Return
SUT
SC US (TTGP) Menlo Park, California $9.25B AUM 20.49% 1-Year Est. Return
MU
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WPL
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Municipal Employees' Retirement System of Michigan's Q3 2025 Portfolio in Review

As of Q3 2025, Municipal Employees' Retirement System of Michigan held 45 positions worth $8.64B, up 3.9% from $8.31B the previous quarter. Its ten largest holdings account for 77% of the portfolio.

Trading was light in Q3 2025: portfolio turnover was 0%. Municipal Employees' Retirement System of Michigan opened no new positions and made no exits, leaving the 45-position portfolio largely intact.

By sector, the portfolio is most concentrated in Materials at 0.16% of assets, down from 0.61% a quarter earlier.

  • Municipal Employees' Retirement System of Michigan's biggest Q3 2025 reduction was First Majestic Silver, cutting an estimated $46.6M.
  • Municipal Employees' Retirement System of Michigan's ten largest holdings make up 77% of its $8.64B portfolio in Q3 2025.
  • Municipal Employees' Retirement System of Michigan opened 0 new positions and closed 0 in Q3 2025.
  • Municipal Employees' Retirement System of Michigan's portfolio value rose 3.9% quarter-over-quarter to $8.64B.

Based on Municipal Employees' Retirement System of Michigan's 13F filing for Q3 2025, filed 12 Nov 2025.