# Municipal Employees' Retirement System of Michigan

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1588873. Source: https://holderbook.com/funds/1588873-municipal-employees-retirement-system-of-michigan/

- Reported value: $9.1B
- Positions: 30
- Weight of the ten largest: 78.2%
- Filed: 2026-08-10

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| INVESCO EXCH TRADED FD TR II | [QVML](https://holderbook.com/stocks/QVML/) | $1.3B | 30,516,713 | 14.9% | 21 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $1.2B | 1,637,942 | 13.5% | 28 |
| SPDR SERIES TRUST | [SPTI](https://holderbook.com/stocks/SPTI/) | $1.0B | 36,956,056 | 11.6% | 25 |
| SPDR SERIES TRUST | [SPTS](https://holderbook.com/stocks/SPTS/) | $658.1M | 22,686,978 | 7.3% | 27 |
| VANGUARD INTL EQUITY INDEX F | [VGK](https://holderbook.com/stocks/VGK/) | $588.3M | 6,644,476 | 6.5% | 23 |
| SPDR SERIES TRUST | [SPTL](https://holderbook.com/stocks/SPTL/) | $514.4M | 19,609,770 | 5.7% | 24 |
| ISHARES TR | [IJH](https://holderbook.com/stocks/IJH/) | $439.9M | 5,705,045 | 4.9% | 25 |
| SCHWAB STRATEGIC TR | [SCHP](https://holderbook.com/stocks/SCHP/) | $429.0M | 16,188,586 | 4.7% | 7 |
| INVESCO EXCH TRADED FD TR II | [QVMM](https://holderbook.com/stocks/QVMM/) | $428.2M | 11,882,576 | 4.7% | 21 |
| SPDR SERIES TRUST | [SPIB](https://holderbook.com/stocks/SPIB/) | $397.5M | 11,879,902 | 4.4% | 22 |
| BONDBLOXX ETF TRUST | [XBB](https://holderbook.com/stocks/XBB/) | $302.2M | 7,372,511 | 3.3% | 17 |
| INVESCO EXCH TRADED FD TR II | [QVMS](https://holderbook.com/stocks/QVMS/) | $249.4M | 7,114,414 | 2.8% | 21 |
| ISHARES INC | [IEMG](https://holderbook.com/stocks/IEMG/) | $246.5M | 2,975,052 | 2.7% | 23 |
| BONDBLOXX ETF TRUST | [XEMD](https://holderbook.com/stocks/XEMD/) | $211.8M | 4,714,975 | 2.3% | 16 |
| SPDR SERIES TRUST | [SPHY](https://holderbook.com/stocks/SPHY/) | $192.0M | 8,191,734 | 2.1% | 14 |
| INVESCO EXCHANGE TRADED FD T | [RSP](https://holderbook.com/stocks/RSP/) | $159.3M | 748,708 | 1.8% | 1 |
| FRANKLIN TEMPLETON ETF TR | [FLCA](https://holderbook.com/stocks/FLCA/) | $142.8M | 2,773,743 | 1.6% | 17 |
| ISHARES TR | [FALN](https://holderbook.com/stocks/FALN/) | $126.9M | 4,657,064 | 1.4% | 5 |
| ISHARES INC | [PICK](https://holderbook.com/stocks/PICK/) | $102.8M | 1,767,862 | 1.1% | 23 |
| BONDBLOXX ETF TRUST | [XFIV](https://holderbook.com/stocks/XFIV/) | $64.9M | 1,332,525 | 0.7% | 16 |
| ISHARES INC | [RING](https://holderbook.com/stocks/RING/) | $50.2M | 776,753 | 0.6% | 23 |
| J P MORGAN EXCHANGE TRADED F | [BBCA](https://holderbook.com/stocks/BBCA/) | $47.6M | 478,673 | 0.5% | 5 |
| SELECT SECTOR SPDR TR | [XLE](https://holderbook.com/stocks/XLE/) | $25.2M | 474,882 | 0.3% | 23 |
| ISHARES TR | [ICOP](https://holderbook.com/stocks/ICOP/) | $24.7M | 501,672 | 0.3% | 6 |
| BONDBLOXX ETF TRUST | [XB](https://holderbook.com/stocks/XB/) | $10.5M | 266,860 | 0.1% | 17 |
| COINBASE GLOBAL INC | [COIN](https://holderbook.com/stocks/COIN/) | $7.4M | 50,757 | 0.1% | 2 |
| BONDBLOXX ETF TRUST | [XCCC](https://holderbook.com/stocks/XCCC/) | $4.4M | 121,654 | 0.0% | 17 |
| ISHARES TR | [IJR](https://holderbook.com/stocks/IJR/) | $3.6M | 24,129 | 0.0% | 25 |
| FIGURE TECHNOLOGY SOLUTIO | [FIGR](https://holderbook.com/stocks/FIGR/) | $2.1M | 68,729 | 0.0% | 1 |
| J P MORGAN EXCHANGE TRADED F | [BBAX](https://holderbook.com/stocks/BBAX/) | $526.0K | 8,785 | 0.0% | 14 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +6.6% | +14.8% | -8.3% | 100% |
| Q1 2026 | -0.7% | -4.6% | +3.9% | 100% |
| Q4 2025 | +1.6% | +2.4% | -0.7% | 100% |
| Q3 2025 | +4.7% | +7.8% | -3.2% | 100% |
| Q2 2025 | +5.5% | +10.5% | -4.9% | 100% |
| Q1 2025 | +0.6% | -4.6% | +5.2% | 99% |
| Q4 2024 | -3.6% | +2.1% | -5.8% | 97% |
| Q3 2024 | +5.7% | +5.4% | +0.3% | 97% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $9.1B | 30 |
| Q1 2026 | $8.8B | 28 |
| Q4 2025 | $8.8B | 36 |
| Q3 2025 | $8.6B | 45 |
| Q2 2025 | $8.3B | 45 |
| Q1 2025 | $7.9B | 46 |
| Q4 2024 | $7.3B | 49 |
| Q3 2024 | $7.6B | 49 |
| Q2 2024 | $7.2B | 49 |
| Q1 2024 | $7.8B | 45 |
| Q4 2023 | $7.5B | 46 |
| Q3 2023 | $7.2B | 49 |