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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
-3.31%
1 Year Est. Return
+13.04%
3 Year Est. Return
+34.61%
5 Year Est. Return
+23.86%
10 Year Est. Return
–
AUM
$7.26B
AUM Growth
-$329M
Cap. Flow
-$64.7M
Cap. Flow %
-0.89%
Top 10 Hldgs %
71.17%
Holding
50
New
1
Increased
8
Reduced
8
Closed
1

Top Buys

Rank Stock Value
1
SCHP icon
Schwab US TIPS ETF
SCHP
+$409M
2
XLE icon
State Street Energy Select Sector SPDR ETF
XLE
+$7.38M
3
PICK icon
iShares MSCI Global Metals & Mining Producers ETF
PICK
+$4.04M
4
SPTS icon
State Street SPDR Portfolio Short Term Treasury ETF
SPTS
+$2.66M
5
SPHY icon
State Street SPDR Portfolio High Yield Bond ETF
SPHY
+$1.16M

Top Sells

Rank Stock Value
1
VGIT icon
Vanguard Intermediate-Term Treasury ETF
VGIT
+$205M
2
VGSH icon
Vanguard Short-Term Treasury ETF
VGSH
+$196M
3
VGLT icon
Vanguard Long-Term Treasury ETF
VGLT
+$44.3M
4
SPTL icon
State Street SPDR Portfolio Long Term Treasury ETF
SPTL
+$29.4M
5
RING icon
iShares MSCI Global Gold Miners ETF
RING
+$11.1M

Sector Composition

Rank Sector Weight
1 Materials 1.2%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
QVML icon
1
Invesco S&P 500 QVM Multi-factor ETF
QVML
$1.53B
$1.05B 14.46%
30,373,380
– –
IVV icon
2
iShares Core S&P 500 ETF
IVV
$904B
$847M 11.67%
1,438,577
– –
SPTI icon
3
State Street SPDR Portfolio Intermediate Term Treasury ETF
SPTI
$10.6B
$737M 10.15%
26,424,332
– –
SPTS icon
4
State Street SPDR Portfolio Short Term Treasury ETF
SPTS
$6.11B
$633M 8.72%
21,803,046
+91,374
+0.4% +$2.66M
SCHP icon
5
Schwab US TIPS ETF
SCHP
$16.2B
$402M 5.54%
+15,565,679
New +$409M
IPAC icon
6
iShares Core MSCI Pacific ETF
IPAC
$2.78B
$391M 5.39%
6,404,807
– –
QVMM
7
Invesco QQQ Trust Series 1
QVMM
$443M
$312M 4.3%
10,882,576
– –
SPTL icon
8
State Street SPDR Portfolio Long Term Treasury ETF
SPTL
$10.7B
$306M 4.22%
11,690,404
-1,074,058
-8% -$29.4M
IEMG icon
9
iShares Core MSCI Emerging Markets ETF
IEMG
$158B
$249M 3.44%
4,773,111
– –
VGK icon
10
Vanguard FTSE Europe ETF
VGK
$31B
$238M 3.27%
3,742,619
– –
XEMD icon
11
BondBloxx JPMorgan USD Emerging Markets 1-10 Year Bond ETF
XEMD
$844M
$196M 2.7%
4,698,046
– –
QVMS
12
Invesco S&P SmallCap 600 QVM Multi-factor ETF
QVMS
$258M
$192M 2.65%
7,114,414
– –
ISVL icon
13
iShares International Developed Small Cap Value Factor ETF
ISVL
$332M
$158M 2.17%
4,592,859
– –
MTBA icon
14
Simplify MBS ETF
MTBA
$1.49B
$156M 2.15%
3,139,253
– –
EMHC icon
15
State Street SPDR Bloomberg Emerging Markets USD Bond ETF
EMHC
$290M
$154M 2.12%
6,460,066
-19,222
-0.3% -$468K
EMB icon
16
iShares JPMorgan USD Emerging Markets Bond ETF
EMB
$14.9B
$138M 1.9%
1,547,548
– –
IJH icon
17
iShares Core S&P Mid-Cap ETF
IJH
$128B
$125M 1.72%
2,005,373
+1
+0% +$64
XONE icon
18
BondBloxx Bloomberg One Year Target Duration US Treasury ETF
XONE
$844M
$118M 1.63%
2,387,980
– –
BBEU icon
19
JPMorgan BetaBuilders Europe ETF
BBEU
$9.52B
$113M 1.56%
2,042,693
– –
PICK icon
20
iShares MSCI Global Metals & Mining Producers ETF
PICK
$2.33B
$106M 1.46%
3,032,992
+101,807
+3% +$4.04M
FLCA icon
21
Franklin FTSE Canada ETF
FLCA
$860M
$102M 1.4%
2,773,743
– –
GATO
22
DELISTED
Gatos Silver, Inc.
GATO
$86.8M 1.2%
6,205,259
– –
RING icon
23
iShares MSCI Global Gold Miners ETF
RING
$2.48B
$53.5M 0.74%
1,901,911
-352,062
-16% -$11.1M
BBAX icon
24
JPMorgan BetaBuilders Developed Asia Pacific-ex Japan ETF
BBAX
$6.8B
$44.4M 0.61%
910,009
– –
XBB icon
25
BondBloxx BB-Rated USD High Yield Corporate Bond ETF
XBB
$519M
$41.5M 0.57%
1,037,817
– –
1
2

Similar funds

VAS
Vestmark Advisory Solutions Wakefield, Massachusetts $9.02B AUM 20.58% 1-Year Est. Return
SFM
Soros Fund Management New York $9.12B AUM 30.69% 1-Year Est. Return
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
Mirova US Boston, Massachusetts $8.81B AUM 21.38% 1-Year Est. Return
WPL
WINDACRE PARTNERSHIP LLC Houston, Texas $9.34B AUM 17.41% 1-Year Est. Return

Municipal Employees' Retirement System of Michigan's Q4 2024 Portfolio in Review

As of Q4 2024, Municipal Employees' Retirement System of Michigan held 50 positions worth $7.26B, down 4.3% from $7.58B the previous quarter. Its ten largest holdings account for 71% of the portfolio.

Trading was light in Q4 2024: portfolio turnover was 4%. Municipal Employees' Retirement System of Michigan opened 1 new position and exited 1, leaving the 50-position portfolio largely intact.

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

  • Municipal Employees' Retirement System of Michigan's largest Q4 2024 buy was Schwab US TIPS ETF: 15,565,679 shares worth $402M.
  • Municipal Employees' Retirement System of Michigan added most to State Street Energy Select Sector SPDR ETF in Q4 2024, an estimated $7.38M increase.
  • Municipal Employees' Retirement System of Michigan's biggest Q4 2024 reduction was Vanguard Short-Term Treasury ETF, cutting an estimated $196M.
  • Municipal Employees' Retirement System of Michigan fully exited Vanguard Intermediate-Term Treasury ETF in Q4 2024, selling an estimated $205M.
  • Municipal Employees' Retirement System of Michigan's ten largest holdings make up 71% of its $7.26B portfolio in Q4 2024.
  • Municipal Employees' Retirement System of Michigan opened 1 new position and closed 1 in Q4 2024.
  • Municipal Employees' Retirement System of Michigan's portfolio value fell 4.3% quarter-over-quarter to $7.26B.

Based on Municipal Employees' Retirement System of Michigan's 13F filing for Q4 2024, filed 10 Feb 2025.