Municipal Employees' Retirement System of Michigan Q3 2025 Filing
Filed November 12, 2025
Portfolio Value
$8.6B
Holdings
45
Report Date
Q3 2025
Filing Type
13F-HR
All Holdings (45 positions)
| # | Stock | Shares | Value | % Portfolio | Type |
|---|---|---|---|---|---|
| 1 | QVMLINVESCO SP 500 QVM MULTIFA | 34,132,010 | $1.3B | 15.52% | |
| 2 | SPTISS SPDR P INT TERM TSY ETF | 35,861,653 | $1.0B | 12.00% | |
| 3 | IVVISHARES CORE SP 500 ETF | 1,481,662 | $991.7M | 11.48% | |
| 4 | VGKVANGUARD FTSE EUROPE ETF | 8,835,451 | $705.1M | 8.16% | |
| 5 | SPTSSS SPDR P ST TERM TSY ETF | 21,942,738 | $643.4M | 7.45% | |
| 6 | SCHPSCHWAB US TIPS ETF | 16,401,227 | $442.0M | 5.12% | |
| 7 | SPIBSS SPDR P INT C CORP ETF | 12,968,096 | $439.5M | 5.09% | |
| 8 | QVMMINVESCO SP MIDCAP 400 QVM M | 11,882,576 | $360.2M | 4.17% | |
| 9 | SPTLSS SPDR PF LNG TRM TSY EUSD | 12,629,575 | $340.4M | 3.94% | |
| 10 | IEMGISHARES CORE MSCI EMERGING | 4,773,111 | $314.6M | 3.64% | |
| 11 | IJHISHARES CORE SP MIDCAP ETF | 4,555,207 | $297.3M | 3.44% | |
| 12 | XBBBONDBLOXXBB RATED USD HY CB | 6,227,640 | $257.5M | 2.98% | |
| 13 | XEMDBONDBLOXXJPM USD EM MK 110 | 4,698,046 | $205.4M | 2.38% | |
| 14 | QVMSINVESCO SP SMALLCAP 600 QVM | 7,114,414 | $199.0M | 2.30% | |
| 15 | SPHYSS SPDR P HIGH YIELD ETF | 5,954,325 | $142.5M | 1.65% | |
| 16 | PICKISHARES MSCI GLOBAL METALS | 3,032,992 | $135.0M | 1.56% | |
| 17 | FLCAFRANKLIN FTSE CANADA ETF | 2,773,743 | $125.9M | 1.46% | |
| 18 | FALNISHARES FALLEN ANGELS ETF | 3,476,559 | $96.6M | 1.12% | |
| 19 | RINGISHARES MSCI GLOBAL GOLD MIN | 1,372,210 | $88.8M | 1.03% | |
| 20 | BBCAJPMORGAN BETABUILDERS CANADA | 940,556 | $82.0M | 0.95% | |
| 21 | XONEBONDBLOXX BBG 1 DUR US TREAS | 1,178,547 | $58.5M | 0.68% | |
| 22 | XFIVBONDBLOXX BBG 5 YR US TREAS | 704,064 | $34.9M | 0.40% | |
| 23 | XLEENERGY SELECT SECTOR SPDR | 360,126 | $32.2M | 0.37% | |
| 24 | ICOPISHARES COPPER AND METALS | 784,271 | $29.5M | 0.34% | |
| 25 | XHLFBONDBLOXX BBG 6 MTH US TREAS | 448,334 | $22.6M | 0.26% | |
| 26 | XTWOBONDBLOXX BBG 2Y US TSY ETF | 416,558 | $20.6M | 0.24% | |
| 27 | XTREBONDBLOXX BBG 3Y US TSY ETF | 402,313 | $20.1M | 0.23% | |
| 28 | XSVNBONDBLOXX BBG 7 YR US TREAS | 403,857 | $19.5M | 0.23% | |
| 29 | XTENBONDBLOXX BBG 10Y US TSY ETF | 403,452 | $18.8M | 0.22% | |
| 30 | BBAXJPMORGAN BETABUILDERS DEVELO | 298,785 | $16.8M | 0.19% | |
| 31 | XTWYBONDBLOXX BBG 20Y US TSY ETF | 420,244 | $16.4M | 0.19% | |
| 32 | SPYMSTATE STREET SPDR PORTFOLIO | 188,205 | $14.7M | 0.17% | |
| 33 | AGFIRST MAJESTIC SILVER CORP | 1,126,289 | $13.8M | 0.16% | |
| 34 | STIPISHARES 05 YEAR TIPS BOND E | 121,200 | $12.5M | 0.15% | |
| 35 | SPDWSPDR PORTFOLIO DEVELOPED WOR | 276,169 | $11.8M | 0.14% | |
| 36 | XBBONDBLOXXB RATED USD HY CB | 266,860 | $10.6M | 0.12% | |
| 37 | VGSHVANGUARD SHORTTERM TREASURY | 142,206 | $8.4M | 0.10% | |
| 38 | SPSBSS SPDR P ST C CORP ETF | 228,061 | $6.9M | 0.08% | |
| 39 | MBBISHARES MBS ETF | 67,551 | $6.4M | 0.07% | |
| 40 | SPEMSPDR PORTFOLIO EMERGING MARK | 107,144 | $5.0M | 0.06% | |
| 41 | XCCCBONDBLOXXCCCUSD HY CORP BD | 121,654 | $4.8M | 0.06% | |
| 42 | IJRISHARES CORE SP SMALLCAP E | 24,129 | $2.9M | 0.03% | |
| 43 | HYBBISHARES BB RATED CORP BOND | 38,566 | $1.8M | 0.02% | |
| 44 | SPMDSS SPDR P SP 400 MIDCAP ETF | 26,947 | $1.5M | 0.02% | |
| 45 | SPSMSS SPDR P SP 600 SMALL CAP | 16,642 | $771K | 0.01% |