Municipal Employees' Retirement System of Michigan
Strategy in plain words
auto-generated from filingsMunicipal Employees' Retirement System of Michigan is a wealth-management firm allocating client money, specialised in financials (100% of the long book), running a $8.81B US long book across 28 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. The portfolio is actively managed, with meaningful quarterly turnover. Current anchor positions: INVESCO S&P 500 QVM MULTI-FA, SS SPDR P INT TERM TSY ETF, ISHARES CORE S&P 500 ETF, SS SPDR P ST TERM TSY ETF, SS SPDR PF LNG TRM TSY E-USD.
Over the last 9 quarters its long book ran on average 1.5pp per quarter behind the S&P 500, beating the index in 3 of 9 quarters. Its holdings are mechanical (indexing / client flows), so position changes carry no stock-picking signal.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/optionsSector allocation
Long book by quarter
What does Municipal Employees' own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| COIN COINBASE GLOBAL INC -CLASS A | Financials | 50.8K | $8.9M | 0.1% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 11, 2026 | 29 | $8.22B | $K fixed canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 6, 2026 | 38 | $8.84B | $K fixed canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 12, 2025 | 54 | $8.64B | $K fixed canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 4, 2025 | 54 | $8.31B | $K fixed canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 7, 2025 | 55 | $7.90B | $K fixed canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 10, 2025 | 59 | $7.26B | $K fixed canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 12, 2024 | 60 | $7.58B | $K fixed canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 5, 2024 | 60 | $7.21B | $K fixed canonical | SEC ↗ |
| Q1 2024 | 13F-HR | Apr 17, 2024 | 56 | $7.76B | $K fixed canonical | SEC ↗ |