Municipal Employees' Retirement System of Michigan Q4 2025 Filing
Filed February 6, 2026
Portfolio Value
$8.8B
Holdings
36
Report Date
Q4 2025
Filing Type
13F-HR
All Holdings (36 positions)
| # | Stock | Shares | Value | % Portfolio | Type |
|---|---|---|---|---|---|
| 1 | QVMLINVESCO S&P 500 QVM MULTIFA | 34,132,010 | $1.4B | 15.51% | |
| 2 | SPTISS SPDR P INT TERM TSY ETF | 37,247,174 | $1.1B | 12.15% | |
| 3 | IVVISHARES CORE S&P 500 ETF | 1,381,225 | $946.1M | 10.70% | |
| 4 | VGKVANGUARD FTSE EUROPE ETF | 9,136,296 | $763.9M | 8.64% | |
| 5 | SPTSSS SPDR P ST TERM TSY ETF | 25,879,762 | $757.8M | 8.57% | |
| 6 | SPTLSS SPDR PF LNG TRM TSY EUSD | 15,397,326 | $407.6M | 4.61% | |
| 7 | SCHPSCHWAB US TIPS ETF | 15,248,383 | $403.9M | 4.57% | |
| 8 | SPIBSS SPDR P INT C CORP ETF | 11,704,768 | $395.7M | 4.48% | |
| 9 | QVMMINVESCO S&P MIDCAP 400 QVM M | 11,882,576 | $365.7M | 4.14% | |
| 10 | IEMGISHARES CORE MSCI EMERGING | 5,227,998 | $351.4M | 3.98% | |
| 11 | IJHISHARES CORE S&P MIDCAP ETF | 4,596,783 | $303.4M | 3.43% | |
| 12 | XBBBONDBLOXXBB RATED USD HY CB | 7,372,511 | $303.3M | 3.43% | |
| 13 | XEMDBONDBLOXXJPM USD EM MK 110 | 4,714,975 | $210.2M | 2.38% | |
| 14 | QVMSINVESCO S&P SMALLCAP 600 QVM | 7,114,414 | $200.9M | 2.27% | |
| 15 | SPHYSS SPDR P HIGH YIELD ETF | 6,000,856 | $142.0M | 1.61% | |
| 16 | PICKISHARES MSCI GLOBAL METALS & | 2,658,856 | $136.5M | 1.54% | |
| 17 | FLCAFRANKLIN FTSE CANADA ETF | 2,773,743 | $134.0M | 1.52% | |
| 18 | FALNISHARES FALLEN ANGELS ETF | 3,657,064 | $99.8M | 1.13% | |
| 19 | BBCAJPMORGAN BETABUILDERS CANADA | 909,454 | $84.6M | 0.96% | |
| 20 | RINGISHARES MSCI GLOBAL GOLD MIN | 844,062 | $62.2M | 0.70% | |
| 21 | XONEBONDBLOXX BBG 1 DUR US TREAS | 1,178,547 | $58.4M | 0.66% | |
| 22 | XLESS ENERGY SELECT SECTOR | 991,274 | $44.3M | 0.50% | |
| 23 | XFIVBONDBLOXX BBG 5 YR US TREAS | 704,064 | $34.8M | 0.39% | |
| 24 | ICOPISHARES COPPER AND METALS | 784,271 | $34.8M | 0.39% | |
| 25 | XTWOBONDBLOXX BBG 2Y US TSY ETF | 416,558 | $20.6M | 0.23% | |
| 26 | XTREBONDBLOXX BBG 3Y US TSY ETF | 402,313 | $20.0M | 0.23% | |
| 27 | XSVNBONDBLOXX BBG 7 YR US TREAS | 403,857 | $19.4M | 0.22% | |
| 28 | XTENBONDBLOXX BBG 10Y US TSY ETF | 403,452 | $18.6M | 0.21% | |
| 29 | BBAXJPMORGAN BETABUILDERS DEVELO | 298,785 | $16.8M | 0.19% | |
| 30 | XTWYBONDBLOXX BBG 20Y US TSY ETF | 420,244 | $15.9M | 0.18% | |
| 31 | XBBONDBLOXXB RATED USD HY CB | 266,860 | $10.5M | 0.12% | |
| 32 | STIPISHARES 05 YEAR TIPS BOND E | 95,402 | $9.8M | 0.11% | |
| 33 | VGSHVANGUARD SHORTTERM TREASURY | 133,074 | $7.8M | 0.09% | |
| 34 | SPSBSS SPDR P ST C CORP ETF | 228,061 | $6.9M | 0.08% | |
| 35 | XCCCBONDBLOXXCCCUSD HY CORP BD | 121,654 | $4.6M | 0.05% | |
| 36 | IJRISHARES CORE S&P SMALLCAP E | 24,129 | $2.9M | 0.03% |