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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
QVML icon
1
Invesco S&P 500 QVM Multi-factor ETF
QVML
$1.53B
$1.14B 14.48%
34,132,010
+3,758,630
+12% +$131M
SPTI icon
2
State Street SPDR Portfolio Intermediate Term Treasury ETF
SPTI
$10.6B
$1.02B 12.98%
35,861,653
+9,437,321
+36% +$266M
IVV icon
3
iShares Core S&P 500 ETF
IVV
$904B
$815M 10.32%
1,450,762
+12,185
+0.8% +$7.2M
SPTS icon
4
State Street SPDR Portfolio Short Term Treasury ETF
SPTS
$6.11B
$641M 8.12%
21,929,077
+126,031
+0.6% +$3.66M
VGK icon
5
Vanguard FTSE Europe ETF
VGK
$31B
$452M 5.72%
6,435,286
+2,692,667
+72% +$186M
SCHP icon
6
Schwab US TIPS ETF
SCHP
$16.2B
$441M 5.58%
16,401,227
+835,548
+5% +$22M
SPTL icon
7
State Street SPDR Portfolio Long Term Treasury ETF
SPTL
$10.7B
$406M 5.14%
14,880,982
+3,190,578
+27% +$85M
IPAC icon
8
iShares Core MSCI Pacific ETF
IPAC
$2.78B
$399M 5.05%
6,404,807
– –
QVMM
9
Invesco QQQ Trust Series 1
QVMM
$443M
$321M 4.07%
11,882,576
+1,000,000
+9% +$28.7M
IEMG icon
10
iShares Core MSCI Emerging Markets ETF
IEMG
$158B
$258M 3.26%
4,773,111
– –
XBB icon
11
BondBloxx BB-Rated USD High Yield Corporate Bond ETF
XBB
$519M
$252M 3.19%
6,227,640
+5,189,823
+500% +$210M
IJH icon
12
iShares Core S&P Mid-Cap ETF
IJH
$128B
$213M 2.69%
3,645,909
+1,640,536
+82% +$102M
XEMD icon
13
BondBloxx JPMorgan USD Emerging Markets 1-10 Year Bond ETF
XEMD
$844M
$198M 2.51%
4,698,046
– –
QVMS
14
Invesco S&P SmallCap 600 QVM Multi-factor ETF
QVMS
$258M
$175M 2.22%
7,114,414
– –
SPHY icon
15
State Street SPDR Portfolio High Yield Bond ETF
SPHY
$12B
$139M 1.77%
5,954,325
+4,666,949
+363% +$110M
BBEU icon
16
JPMorgan BetaBuilders Europe ETF
BBEU
$9.52B
$126M 1.6%
2,042,693
– –
MTBA icon
17
Simplify MBS ETF
MTBA
$1.49B
$119M 1.51%
2,378,493
-760,760
-24% -$38M
XONE icon
18
BondBloxx Bloomberg One Year Target Duration US Treasury ETF
XONE
$844M
$119M 1.5%
2,387,980
– –
PICK icon
19
iShares MSCI Global Metals & Mining Producers ETF
PICK
$2.33B
$109M 1.38%
3,032,992
– –
FLCA icon
20
Franklin FTSE Canada ETF
FLCA
$860M
$103M 1.31%
2,773,743
– –
RING icon
21
iShares MSCI Global Gold Miners ETF
RING
$2.48B
$73M 0.92%
1,901,911
– –
AG icon
22
First Majestic Silver
AG
$9.44B
$47.7M 0.6%
+7,123,410
New +$42.4M
BBAX icon
23
JPMorgan BetaBuilders Developed Asia Pacific-ex Japan ETF
BBAX
$6.8B
$44.3M 0.56%
910,009
– –
XFIV icon
24
BondBloxx Bloomberg Five Year Target Duration US Treasury ETF
XFIV
$324M
$34.6M 0.44%
704,064
– –
XLE icon
25
State Street Energy Select Sector SPDR ETF
XLE
$39.9B
$24.4M 0.31%
523,114
-261,756
-33% -$11.8M
1
2 3

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 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.