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Municipal Employees' Retirement System of Michigan

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13F filer, CIK 1588873, LANSING, MI

Municipal Employees' Retirement System of Michigan reported holdings worth $8,807,064,000 (the sum of its rows) across 28 holdings for the quarter ended 2026-03-31, in a 13F-HR filed 2026-05-11. The total stated on the cover page is $8,223,951,000. Its ten largest share positions make up 80.08% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001588873-26-000003

The cover page states a total of $8,223,951,000, 7% less than the sum of the rows, $8,807,064,000. This page uses the sum of the rows.

Period
2026-03-31
Value, sum of rows
$8.81B
Stated on the cover page
$8.22B
Holdings
28
Top 10 weight
80.08%
New
1
Sold out
9

Largest buys vs the previous quarter

SecurityShares changeApprox. value
SPTLadded+7,602,426$200M
IVVadded+256,717$168M
IJHadded+1,108,262$74.8M
SPTSadded+2,205,443$64.4M
SPHYadded+2,190,878$51.1M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
VGKreduced-2,371,431-$195M
IEMGreduced-1,914,169-$134M
XONEexited-1,178,547-$58.4M
PICKreduced-890,994-$50.4M
XLEreduced-516,392-$31.6M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q1 2026

Share positions as resolved from 13F-HR 0001588873-26-000003, largest first. % of portfolio is the value over $8,807,064,000, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
QVMLINVESCO EXCH TRADED FD TR IIQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 30,373,380 shares; 2024Q4: 30,373,380 shares; 2025Q1: 34,132,010 shares; 2025Q2: 34,132,010 shares; 2025Q3: 34,132,010 shares; 2025Q4: 34,132,010 shares; 2026Q1: 34,132,010 shares 34,132,010$1.31B14.83%0Timeline
SPTISPDR SERIES TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 26,424,332 shares; 2024Q4: 26,424,332 shares; 2025Q1: 35,861,653 shares; 2025Q2: 35,861,653 shares; 2025Q3: 35,861,653 shares; 2025Q4: 37,247,174 shares; 2026Q1: 38,702,475 shares 38,702,475$1.11B12.59%+1,455,301Timeline
IVVISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 1,438,577 shares; 2024Q4: 1,438,577 shares; 2025Q1: 1,450,762 shares; 2025Q2: 1,481,662 shares; 2025Q3: 1,481,662 shares; 2025Q4: 1,381,225 shares; 2026Q1: 1,637,942 shares 1,637,942$1.07B12.15%+256,717Timeline
SPTSSPDR SERIES TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 21,711,672 shares; 2024Q4: 21,803,046 shares; 2025Q1: 21,929,077 shares; 2025Q2: 21,942,738 shares; 2025Q3: 21,942,738 shares; 2025Q4: 25,879,762 shares; 2026Q1: 28,085,205 shares 28,085,205$820M9.31%+2,205,443Timeline
SPTLSPDR SERIES TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 12,764,462 shares; 2024Q4: 11,690,404 shares; 2025Q1: 14,880,982 shares; 2025Q2: 12,629,575 shares; 2025Q3: 12,629,575 shares; 2025Q4: 15,397,326 shares; 2026Q1: 22,999,752 shares 22,999,752$605M6.87%+7,602,426Timeline
VGKVANGUARD INTL EQUITY INDEX FQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 3,742,619 shares; 2024Q4: 3,742,619 shares; 2025Q1: 6,435,286 shares; 2025Q2: 8,835,451 shares; 2025Q3: 8,835,451 shares; 2025Q4: 9,136,296 shares; 2026Q1: 6,764,865 shares 6,764,865$558M6.33%-2,371,431Timeline
SCHPSCHWAB STRATEGIC TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 15,565,679 shares; 2025Q1: 16,401,227 shares; 2025Q2: 16,401,227 shares; 2025Q3: 16,401,227 shares; 2025Q4: 15,248,383 shares; 2026Q1: 16,188,586 shares 16,188,586$431M4.89%+940,203Timeline
SPIBSPDR SERIES TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 159,059 shares; 2024Q4: 172,439 shares; 2025Q1: 164,166 shares; 2025Q2: 12,968,096 shares; 2025Q3: 12,968,096 shares; 2025Q4: 11,704,768 shares; 2026Q1: 11,704,768 shares 11,704,768$393M4.46%0Timeline
IJHISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 2,005,372 shares; 2024Q4: 2,005,373 shares; 2025Q1: 3,645,909 shares; 2025Q2: 4,555,207 shares; 2025Q3: 4,555,207 shares; 2025Q4: 4,596,783 shares; 2026Q1: 5,705,045 shares 5,705,045$385M4.37%+1,108,262Timeline
QVMMINVESCO EXCH TRADED FD TR IIQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 10,882,576 shares; 2024Q4: 10,882,576 shares; 2025Q1: 11,882,576 shares; 2025Q2: 11,882,576 shares; 2025Q3: 11,882,576 shares; 2025Q4: 11,882,576 shares; 2026Q1: 11,882,576 shares 11,882,576$377M4.28%0Timeline
XBBBONDBLOXX ETF TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 1,037,817 shares; 2024Q4: 1,037,817 shares; 2025Q1: 6,227,640 shares; 2025Q2: 6,227,640 shares; 2025Q3: 6,227,640 shares; 2025Q4: 7,372,511 shares; 2026Q1: 7,372,511 shares 7,372,511$300M3.41%0Timeline
IEMGISHARES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 4,773,111 shares; 2024Q4: 4,773,111 shares; 2025Q1: 4,773,111 shares; 2025Q2: 4,773,111 shares; 2025Q3: 4,773,111 shares; 2025Q4: 5,227,998 shares; 2026Q1: 3,313,829 shares 3,313,829$231M2.62%-1,914,169Timeline
QVMSINVESCO EXCH TRADED FD TR IIQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 7,114,414 shares; 2024Q4: 7,114,414 shares; 2025Q1: 7,114,414 shares; 2025Q2: 7,114,414 shares; 2025Q3: 7,114,414 shares; 2025Q4: 7,114,414 shares; 2026Q1: 7,114,414 shares 7,114,414$207M2.35%0Timeline
XEMDBONDBLOXX ETF TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 4,698,046 shares; 2024Q4: 4,698,046 shares; 2025Q1: 4,698,046 shares; 2025Q2: 4,698,046 shares; 2025Q3: 4,698,046 shares; 2025Q4: 4,714,975 shares; 2026Q1: 4,714,975 shares 4,714,975$207M2.35%0Timeline
SPHYSPDR SERIES TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 1,238,276 shares; 2024Q4: 1,287,376 shares; 2025Q1: 5,954,325 shares; 2025Q2: 5,954,325 shares; 2025Q3: 5,954,325 shares; 2025Q4: 6,000,856 shares; 2026Q1: 8,191,734 shares 8,191,734$191M2.17%+2,190,878Timeline
FLCAFRANKLIN TEMPLETON ETF TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 2,773,743 shares; 2024Q4: 2,773,743 shares; 2025Q1: 2,773,743 shares; 2025Q2: 2,773,743 shares; 2025Q3: 2,773,743 shares; 2025Q4: 2,773,743 shares; 2026Q1: 2,773,743 shares 2,773,743$136M1.54%0Timeline
PICKISHARES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 2,931,185 shares; 2024Q4: 3,032,992 shares; 2025Q1: 3,032,992 shares; 2025Q2: 3,032,992 shares; 2025Q3: 3,032,992 shares; 2025Q4: 2,658,856 shares; 2026Q1: 1,767,862 shares 1,767,862$100M1.14%-890,994Timeline
FALNISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 3,476,559 shares; 2025Q3: 3,476,559 shares; 2025Q4: 3,657,064 shares; 2026Q1: 3,657,064 shares 3,657,064$97.7M1.11%0Timeline
XFIVBONDBLOXX ETF TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 704,064 shares; 2024Q4: 704,064 shares; 2025Q1: 704,064 shares; 2025Q2: 704,064 shares; 2025Q3: 704,064 shares; 2025Q4: 704,064 shares; 2026Q1: 1,332,525 shares 1,332,525$65.5M0.74%+628,461Timeline
RINGISHARES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 2,253,973 shares; 2024Q4: 1,901,911 shares; 2025Q1: 1,901,911 shares; 2025Q2: 1,372,210 shares; 2025Q3: 1,372,210 shares; 2025Q4: 844,062 shares; 2026Q1: 776,753 shares 776,753$61.3M0.7%-67,309Timeline
BBCAJ P MORGAN EXCHANGE TRADED FQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 940,556 shares; 2025Q3: 940,556 shares; 2025Q4: 909,454 shares; 2026Q1: 639,622 shares 639,622$60.2M0.68%-269,832Timeline
XLESELECT SECTOR SPDR TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 311,228 shares; 2024Q4: 392,435 shares; 2025Q1: 261,557 shares; 2025Q2: 360,126 shares; 2025Q3: 360,126 shares; 2025Q4: 991,274 shares; 2026Q1: 474,882 shares 474,882$29.1M0.33%-516,392Timeline
ICOPISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 556,999 shares; 2025Q2: 784,271 shares; 2025Q3: 784,271 shares; 2025Q4: 784,271 shares; 2026Q1: 501,672 shares 501,672$23.9M0.27%-282,599Timeline
BBAXJ P MORGAN EXCHANGE TRADED FQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 910,009 shares; 2024Q4: 910,009 shares; 2025Q1: 910,009 shares; 2025Q2: 298,785 shares; 2025Q3: 298,785 shares; 2025Q4: 298,785 shares; 2026Q1: 298,785 shares 298,785$17.8M0.2%0Timeline
XBBONDBLOXX ETF TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 266,860 shares; 2024Q4: 266,860 shares; 2025Q1: 266,860 shares; 2025Q2: 266,860 shares; 2025Q3: 266,860 shares; 2025Q4: 266,860 shares; 2026Q1: 266,860 shares 266,860$10.4M0.12%0Timeline
COINCOINBASE GLOBAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 50,757 shares 50,757$8.86M0.1%newTimeline
XCCCBONDBLOXX ETF TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 121,654 shares; 2024Q4: 121,654 shares; 2025Q1: 121,654 shares; 2025Q2: 121,654 shares; 2025Q3: 121,654 shares; 2025Q4: 121,654 shares; 2026Q1: 121,654 shares 121,654$4.43M0.05%0Timeline
IJRISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 20,736 shares; 2024Q4: 20,736 shares; 2025Q1: 20,736 shares; 2025Q2: 24,129 shares; 2025Q3: 24,129 shares; 2025Q4: 24,129 shares; 2026Q1: 24,129 shares 24,129$3M0.03%0Timeline

Sold out in Q1 2026

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
XONEBONDBLOXX ETF TRUST1,178,547$58.4Mshares
XTWOBONDBLOXX ETF TRUST416,558$20.6Mshares
XTREBONDBLOXX ETF TRUST402,313$20Mshares
XSVNBONDBLOXX ETF TRUST403,857$19.4Mshares
XTENBONDBLOXX ETF TRUST403,452$18.6Mshares
XTWYBONDBLOXX ETF TRUST420,244$15.9Mshares
STIPISHARES TR95,402$9.77Mshares
VGSHVANGUARD SCOTTSDALE FDS133,074$7.82Mshares
SPSBSPDR SERIES TRUST228,061$6.89Mshares

How Q1 2026 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001588873-26-000003 base2026-05-11acceptance time not in the bulk data set