Municipal Employees' Retirement System of Michigan Q1 2025 Filing

Filed May 7, 2025

Portfolio Value

$7.9B

Holdings

Report Date

Q1 2025

Filing Type

13F-HR

All Holdings (46 positions)

#	Stock	Shares	Value	% Portfolio
1	QVMLINVESCO SP 500 QVM MULTIFA	34,132,010	$1.1B	14.48%
2	SPTISPDR PORT INT TREASURY TERM	35,861,653	$1.0B	12.98%
3	IVVISHARES CORE SP 500 ETF	1,450,762	$815.2M	10.32%
4	SPTSSPDR PORT SHRT TRM TRSRY	21,929,077	$641.2M	8.12%
5	VGKVANGUARD FTSE EUROPE ETF	6,435,286	$451.8M	5.72%
6	SCHPSCHWAB US TIPS ETF	16,401,227	$441.0M	5.58%
7	SPTLSPDR PORT LNG TRM TRSRY	14,880,982	$405.7M	5.14%
8	IPACISHARES CORE MSCI PACIFIC ET	6,404,807	$398.6M	5.05%
9	QVMMINVESCO SP MIDCAP 400 QVM M	11,882,576	$321.3M	4.07%
10	IEMGISHARES CORE MSCI EMERGING	4,773,111	$257.6M	3.26%
11	XBBBONDBLOXXBB RATED USD HY CB	6,227,640	$251.8M	3.19%
12	IJHISHARES CORE SP MIDCAP ETF	3,645,909	$212.7M	2.69%
13	XEMDBONDBLOXXJPM USD EM MK 110	4,698,046	$198.1M	2.51%
14	QVMSINVESCO SP SMALLCAP 600 QVM	7,114,414	$175.2M	2.22%
15	SPHYSPDR PORTFOLIO HIGH YIELD BO	5,954,325	$139.5M	1.77%
16	BBEUJPMORGAN BETABUILDERS EUROPE	2,042,693	$126.3M	1.60%
17	MTBASIMPLIFY MBS ETF	2,378,493	$119.3M	1.51%
18	XONEBONDBLOXX BBG 1 DUR US TREAS	2,387,980	$118.7M	1.50%
19	PICKISHARES MSCI GLOBAL METALS	3,032,992	$108.8M	1.38%
20	FLCAFRANKLIN FTSE CANADA ETF	2,773,743	$103.2M	1.31%
21	RINGISHARES MSCI GLOBAL GOLD MIN	1,901,911	$73.0M	0.92%
22	AGFIRST MAJESTIC SILVER CORP	7,123,410	$47.7M	0.60%
23	BBAXJPMORGAN BETABUILDERS DEVELO	910,009	$44.3M	0.56%
24	XFIVBONDBLOXX BBG 5 YR US TREAS	704,064	$34.6M	0.44%
25	XLEENERGY SELECT SECTOR SPDR	261,557	$24.4M	0.31%
26	XHLFBONDBLOXX BBG 6 MTH US TREAS	448,334	$22.6M	0.29%
27	XTWOBONDBLOXX BBG 2Y US TSY ETF	416,558	$20.6M	0.26%
28	XTREBONDBLOXX BBG 3Y US TSY ETF	402,313	$19.9M	0.25%
29	XSVNBONDBLOXX BBG 7 YR US TREAS	403,857	$19.3M	0.24%
30	XTENBONDBLOXX BBG 10Y US TSY ETF	403,452	$18.8M	0.24%
31	XTWYBONDBLOXX BBG 20Y US TSY ETF	420,244	$16.9M	0.21%
32	ICOPISHARES COPPER AND METALS	556,999	$14.4M	0.18%
33	STIPISHARES 05 YEAR TIPS BOND E	121,200	$12.5M	0.16%
34	SPYMSPDR PORTFOLIO SP 500 ETF	188,205	$12.4M	0.16%
35	XBBONDBLOXXB RATED USD HY CB	266,860	$10.4M	0.13%
36	SPDWSPDR PORTFOLIO DEVELOPED WOR	276,169	$10.1M	0.13%
37	VGSHVANGUARD SHORTTERM TREASURY	142,206	$8.3M	0.11%
38	SPSBSPDR PORT SHRT TRM CORP BND	228,061	$6.9M	0.09%
39	MBBISHARES MBS ETF	67,551	$6.3M	0.08%
40	SPIBSPDR PORT INT CORP BOND ETF	164,166	$5.5M	0.07%
41	XCCCBONDBLOXXCCCUSD HY CORP BD	121,654	$4.6M	0.06%
42	SPEMSPDR PORTFOLIO EMERGING MARK	107,144	$4.2M	0.05%
43	IJRISHARES CORE SP SMALLCAP E	20,736	$2.2M	0.03%
44	HYBBISHARES BB RATED CORP BOND	38,566	$1.8M	0.02%
45	SPMDSPDR PORTFOLIO SP 400 MID C	26,947	$1.4M	0.02%
46	SPSMSPDR PORTFOLIO SP 600 SMALL	16,642	$678K	0.01%