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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
+1.55%
1 Year Est. Return
+13.04%
3 Year Est. Return
+34.61%
5 Year Est. Return
+23.86%
10 Year Est. Return
–
AUM
$8.84B
AUM Growth
+$205M
Cap. Flow
+$74M
Cap. Flow %
0.84%
Top 10 Hldgs %
77.34%
Holding
45
New
–
Increased
11
Reduced
8
Closed
9

Top Buys

Rank Stock Value
1
SPTS icon
State Street SPDR Portfolio Short Term Treasury ETF
SPTS
+$115M
2
SPTL icon
State Street SPDR Portfolio Long Term Treasury ETF
SPTL
+$74.7M
3
XBB icon
BondBloxx BB-Rated USD High Yield Corporate Bond ETF
XBB
+$47.1M
4
SPTI icon
State Street SPDR Portfolio Intermediate Term Treasury ETF
SPTI
+$40.1M
5
IEMG icon
iShares Core MSCI Emerging Markets ETF
IEMG
+$30.5M

Top Sells

Rank Stock Value
1
IVV icon
iShares Core S&P 500 ETF
IVV
+$68.2M
2
SPIB icon
State Street SPDR Portfolio Intermediate Term Corporate Bond ETF
SPIB
+$42.8M
3
RING icon
iShares MSCI Global Gold Miners ETF
RING
+$35.6M
4
SCHP icon
Schwab US TIPS ETF
SCHP
+$30.9M
5
XHLF icon
BondBloxx Bloomberg Six Month Target Duration US Treasury ETF
XHLF
+$22.6M

Sector Composition

Rank Sector Weight
1 Materials 0%
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
$1.37B 15.51%
34,132,010
– –
SPTI icon
2
State Street SPDR Portfolio Intermediate Term Treasury ETF
SPTI
$10.6B
$1.07B 12.15%
37,247,174
+1,385,521
+4% +$40.1M
IVV icon
3
iShares Core S&P 500 ETF
IVV
$904B
$946M 10.7%
1,381,225
-100,437
-7% -$68.2M
VGK icon
4
Vanguard FTSE Europe ETF
VGK
$31B
$764M 8.64%
9,136,296
+300,845
+3% +$24.5M
SPTS icon
5
State Street SPDR Portfolio Short Term Treasury ETF
SPTS
$6.11B
$758M 8.57%
25,879,762
+3,937,024
+18% +$115M
SPTL icon
6
State Street SPDR Portfolio Long Term Treasury ETF
SPTL
$10.7B
$408M 4.61%
15,397,326
+2,767,751
+22% +$74.7M
SCHP icon
7
Schwab US TIPS ETF
SCHP
$16.2B
$404M 4.57%
15,248,383
-1,152,844
-7% -$30.9M
SPIB icon
8
State Street SPDR Portfolio Intermediate Term Corporate Bond ETF
SPIB
$11.5B
$396M 4.48%
11,704,768
-1,263,328
-10% -$42.8M
QVMM
9
Invesco QQQ Trust Series 1
QVMM
$443M
$366M 4.14%
11,882,576
– –
IEMG icon
10
iShares Core MSCI Emerging Markets ETF
IEMG
$158B
$351M 3.98%
5,227,998
+454,887
+10% +$30.5M
IJH icon
11
iShares Core S&P Mid-Cap ETF
IJH
$128B
$303M 3.43%
4,596,783
+41,576
+0.9% +$2.72M
XBB icon
12
BondBloxx BB-Rated USD High Yield Corporate Bond ETF
XBB
$519M
$303M 3.43%
7,372,511
+1,144,871
+18% +$47.1M
XEMD icon
13
BondBloxx JPMorgan USD Emerging Markets 1-10 Year Bond ETF
XEMD
$844M
$210M 2.38%
4,714,975
+16,929
+0.4% +$751K
QVMS
14
Invesco S&P SmallCap 600 QVM Multi-factor ETF
QVMS
$258M
$201M 2.27%
7,114,414
– –
SPHY icon
15
State Street SPDR Portfolio High Yield Bond ETF
SPHY
$12B
$142M 1.61%
6,000,856
+46,531
+0.8% +$1.1M
PICK icon
16
iShares MSCI Global Metals & Mining Producers ETF
PICK
$2.33B
$137M 1.54%
2,658,856
-374,136
-12% -$17.7M
FLCA icon
17
Franklin FTSE Canada ETF
FLCA
$860M
$134M 1.52%
2,773,743
– –
FALN icon
18
iShares Fallen Angels USD Bond ETF
FALN
$1.6B
$99.8M 1.13%
3,657,064
+180,505
+5% +$4.95M
BBCA icon
19
JPMorgan BetaBuilders Canada ETF
BBCA
$11.3B
$84.6M 0.96%
909,454
-31,102
-3% -$2.77M
RING icon
20
iShares MSCI Global Gold Miners ETF
RING
$2.48B
$62.2M 0.7%
844,062
-528,148
-38% -$35.6M
XONE icon
21
BondBloxx Bloomberg One Year Target Duration US Treasury ETF
XONE
$844M
$58.4M 0.66%
1,178,547
– –
XLE icon
22
State Street Energy Select Sector SPDR ETF
XLE
$39.9B
$44.3M 0.5%
991,274
+271,022
+38% +$12.1M
XFIV icon
23
BondBloxx Bloomberg Five Year Target Duration US Treasury ETF
XFIV
$324M
$34.8M 0.39%
704,064
– –
ICOP icon
24
iShares Copper and Metals Mining ETF
ICOP
$474M
$34.8M 0.39%
784,271
– –
XTWO icon
25
BondBloxx Bloomberg Two Year Target Duration US Treasury ETF
XTWO
$210M
$20.6M 0.23%
416,558
– –
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 2025 Portfolio in Review

As of Q4 2025, Municipal Employees' Retirement System of Michigan held 45 positions worth $8.84B, up 2.4% from $8.64B the previous quarter. Its ten largest holdings account for 77% of the portfolio.

Municipal Employees' Retirement System of Michigan's Q4 2025 filing shows 11 increased, 8 reduced and 9 closed positions. The largest sale was iShares Core S&P 500 ETF, an estimated $68.2M.

By sector, the portfolio is most concentrated in Materials at 0% of assets, down from 0.16% a quarter earlier.

  • Municipal Employees' Retirement System of Michigan added most to State Street SPDR Portfolio Short Term Treasury ETF in Q4 2025, an estimated $115M increase.
  • Municipal Employees' Retirement System of Michigan's biggest Q4 2025 reduction was iShares Core S&P 500 ETF, cutting an estimated $68.2M.
  • Municipal Employees' Retirement System of Michigan fully exited BondBloxx Bloomberg Six Month Target Duration US Treasury ETF in Q4 2025, selling an estimated $22.6M.
  • Municipal Employees' Retirement System of Michigan's ten largest holdings make up 77% of its $8.84B portfolio in Q4 2025.
  • Municipal Employees' Retirement System of Michigan opened 0 new positions and closed 9 in Q4 2025.
  • Municipal Employees' Retirement System of Michigan's portfolio value rose 2.4% quarter-over-quarter to $8.84B.

Based on Municipal Employees' Retirement System of Michigan's 13F filing for Q4 2025, filed 6 Feb 2026.