Municipal Employees' Retirement System of Michigan portfolio
Managed by . 28 reported positions worth $8.8B as of 2026-03-31, filed with the SEC on 2026-05-11. Parsed from the filing itself, not a reseller.
Every position on this page is a snapshot of 2026-03-31. It was already 41 days old on 2026-05-11, the day it first became public. Today it is 134 days old.
That lag is the law, not a service level — Rule 13f-1 gives managers 45 days after quarter end to file, and no product can shorten it. A fund can have sold every share below before you read this sentence. Treat it as a record of what happened, never as a position you can follow.
Positions opened and closed
Against its 2025-12-31 filing. This is the part worth reading — the holdings table below is mostly years old.
| Ticker | Issuer | Value | Shares | % of book |
|---|---|---|---|---|
| COIN | COINBASE GLOBAL INC | $8.9M | 50,757 | 0.10% |
| Ticker | Issuer | Was worth | Shares | % of book |
|---|---|---|---|---|
| XONE | BONDBLOXX BBG 1 DUR US TREAS | $58.4M | 1,178,547 | 0.00% |
| XTWO | BONDBLOXX BBG 2Y US TSY ETF | $20.6M | 416,558 | 0.00% |
| XTRE | BONDBLOXX BBG 3Y US TSY ETF | $20.0M | 402,313 | 0.00% |
| XSVN | BONDBLOXX BBG 7 YR US TREAS | $19.4M | 403,857 | 0.00% |
| XTEN | BONDBLOXX BBG 10Y US TSY ETF | $18.6M | 403,452 | 0.00% |
| XTWY | BONDBLOXX BBG 20Y US TSY ETF | $15.9M | 420,244 | 0.00% |
| STIP | ISHARES 05 YEAR TIPS BOND E | $9.8M | 95,402 | 0.00% |
| VGSH | VANGUARD SHORTTERM TREASURY | $7.8M | 133,074 | 0.00% |
| SPSB | SS SPDR P ST C CORP ETF | $6.9M | 228,061 | 0.00% |
| Ticker | Issuer | Value | Shares | % of book | Shares Δ |
|---|---|---|---|---|---|
| SPTI | SS SPDR P INT TERM TSY ETF | $1.1B | 38,702,475 | 12.59% | +4% |
| IVV | ISHARES CORE S&P 500 ETF | $1.1B | 1,637,942 | 12.15% | +19% |
| SPTS | SS SPDR P ST TERM TSY ETF | $819.5M | 28,085,205 | 9.31% | +9% |
| SPTL | SS SPDR PF LNG TRM TSY EUSD | $604.9M | 22,999,752 | 6.87% | +49% |
| SCHP | SCHWAB US TIPS ETF | $430.8M | 16,188,586 | 4.89% | +6% |
| IJH | ISHARES CORE S&P MIDCAP ETF | $385.3M | 5,705,045 | 4.37% | +24% |
| SPHY | SS SPDR P HIGH YIELD ETF | $191.0M | 8,191,734 | 2.17% | +37% |
| XFIV | BONDBLOXX BBG 5 YR US TREAS | $65.5M | 1,332,525 | 0.74% | +89% |
| Ticker | Issuer | Value | Shares | % of book | Shares Δ |
|---|---|---|---|---|---|
| XLE | SS ENERGY SELECT SECTOR | $29.1M | 474,882 | 0.33% | -52% |
| IEMG | ISHARES CORE MSCI EMERGING | $231.1M | 3,313,829 | 2.62% | -37% |
| ICOP | ISHARES COPPER AND METALS | $23.9M | 501,672 | 0.27% | -36% |
| PICK | ISHARES MSCI GLOBAL METALS & | $100.0M | 1,767,862 | 1.14% | -34% |
| BBCA | JPMORGAN BETABUILDERS CANADA | $60.2M | 639,622 | 0.68% | -30% |
| VGK | VANGUARD FTSE EUROPE ETF | $557.6M | 6,764,865 | 6.33% | -26% |
| RING | ISHARES MSCI GLOBAL GOLD MIN | $61.3M | 776,753 | 0.70% | -8% |
All reported holdings
| Ticker | Issuer | Value | Shares | % of book | Shares Δ |
|---|---|---|---|---|---|
| QVML | INVESCO S&P 500 QVM MULTIFA | $1.3B | 34,132,010 | 14.83% | — |
| SPTI | SS SPDR P INT TERM TSY ETF | $1.1B | 38,702,475 | 12.59% | — |
| IVV | ISHARES CORE S&P 500 ETF | $1.1B | 1,637,942 | 12.15% | — |
| SPTS | SS SPDR P ST TERM TSY ETF | $819.5M | 28,085,205 | 9.31% | — |
| SPTL | SS SPDR PF LNG TRM TSY EUSD | $604.9M | 22,999,752 | 6.87% | — |
| VGK | VANGUARD FTSE EUROPE ETF | $557.6M | 6,764,865 | 6.33% | — |
| SCHP | SCHWAB US TIPS ETF | $430.8M | 16,188,586 | 4.89% | — |
| SPIB | SS SPDR P INT C CORP ETF | $392.6M | 11,704,768 | 4.46% | — |
| IJH | ISHARES CORE S&P MIDCAP ETF | $385.3M | 5,705,045 | 4.37% | — |
| QVMM | INVESCO S&P MIDCAP 400 QVM M | $376.6M | 11,882,576 | 4.28% | — |
| XBB | BONDBLOXXBB RATED USD HY CB | $300.0M | 7,372,511 | 3.41% | — |
| IEMG | ISHARES CORE MSCI EMERGING | $231.1M | 3,313,829 | 2.62% | — |
| QVMS | INVESCO S&P SMALLCAP 600 QVM | $207.3M | 7,114,414 | 2.35% | — |
| XEMD | BONDBLOXXJPM USD EM MK 110 | $207.2M | 4,714,975 | 2.35% | — |
| SPHY | SS SPDR P HIGH YIELD ETF | $191.0M | 8,191,734 | 2.17% | — |
| FLCA | FRANKLIN FTSE CANADA ETF | $135.7M | 2,773,743 | 1.54% | — |
| PICK | ISHARES MSCI GLOBAL METALS & | $100.0M | 1,767,862 | 1.14% | — |
| FALN | ISHARES FALLEN ANGELS ETF | $97.7M | 3,657,064 | 1.11% | — |
| XFIV | BONDBLOXX BBG 5 YR US TREAS | $65.5M | 1,332,525 | 0.74% | — |
| RING | ISHARES MSCI GLOBAL GOLD MIN | $61.3M | 776,753 | 0.70% | — |
| BBCA | JPMORGAN BETABUILDERS CANADA | $60.2M | 639,622 | 0.68% | — |
| XLE | SS ENERGY SELECT SECTOR | $29.1M | 474,882 | 0.33% | — |
| ICOP | ISHARES COPPER AND METALS | $23.9M | 501,672 | 0.27% | — |
| BBAX | JPMORGAN BETABUILDERS DEVELO | $17.8M | 298,785 | 0.20% | — |
| XB | BONDBLOXXB RATED USD HY CB | $10.4M | 266,860 | 0.12% | — |
| COIN | COINBASE GLOBAL INC | $8.9M | 50,757 | 0.10% | — |
| XCCC | BONDBLOXXCCCUSD HY CORP BD | $4.4M | 121,654 | 0.05% | — |
| IJR | ISHARES CORE S&P SMALLCAP E | $3.0M | 24,129 | 0.03% | — |
Rows are aggregated by CUSIP — a manager files the same security multiple times when different internal desks hold it. Tickers link to our own backtest of that asset where we cover it.
This page was built from one document: the 2026-03-31 Form 13F info table filed by Municipal Employees' Retirement System of Michigan (CIK 1588873, accession 0001588873-26-000003). Every other 13F site is reading the same file.
One quirk worth naming: this manager still reports position values in thousands, although Form 13F has required whole dollars since 2023. We detect that by comparing this filing’s implied price per share against what every other manager holding the same securities reported for them this quarter — and multiply by 1,000. Figures on this page are therefore 1,000x the numbers you will read in the document itself.
If anything here disagrees with it, the filing wins — and we would want to know. All 13F filings by this manager
A 13F is a long-only equity snapshot, and the holes in it are structural. Anyone selling you this data as "what the smart money is doing" is selling you one leg of a position:
- No short positions. None, ever. A fund shown here as bullish may be net short the same name through a book you cannot see.
- No cash, bonds, FX, commodities or non-US listings. A macro fund's entire thesis can be invisible.
- No intra-quarter round trips. Bought and sold inside the same quarter means it never appears at all.
- Options are notional, not ownership. We keep puts and calls in a separate bucket rather than adding their notional into a fund's book size, which is how a $2B fund gets reported as a $20B one.
- Confidential treatment. Managers can ask the SEC to withhold a position while they build it. Those holdings are legally absent from the filing, so a "new" position may be months old.
Tested and published by IndicatorEdge · backtest grid generated 2026-06-25 · base rates recomputed 2026-07-31 · how we test
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