Municipal Employees' Retirement System of Michigan

CIK 0001588873 · Q1 2026

13F Equity AUM

$8.8M

-0.4% QoQ

Positions

-8 QoQ

AUM Rank

#11,614

Top 93%

Skill Alpha (FF)

—

No alpha data

Quarters Tracked

~0 years

Portfolio Concentration

Top 5: 55.8%Top 10: 80.1%Top 20: 98.2%

QVML14.8%

SPTI12.6%

IVV12.2%

SPTS9.3%

SPTL6.9%

VGK6.3%

SCHP4.9%

SPIB4.5%

IJH4.4%

QVMM4.3%

Others (18)19.9%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Financial Services100.0%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 28Median: 2.26%Avg: 3.57%

0–0.5%

7(1.1%)

0.5–1%

3(2.1%)

1–3%

7(13.3%)

3–5%

5(21.4%)

5%+

6(62.1%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 22Unique: 6vs 20 funds

0.3%Low

Fund positions

7,299

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

BANK OF AMERICA CORP /DE/

0.5%

0.4%

0.3%

0.4%

0.3%

0.3%

VANGUARD CAPITAL MANAGEMENT LLC

VANGUARD PORTFOLIO MANAGEMENT LLC

GEODE CAPITAL MANAGEMENT, LLC

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

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Position Changes This Quarter

New1Increased8Decreased7Exited9

New Positions

COIN0.1%

+51K

Increased

SPTL6.9%

+7.6M(+49%)

SPTS9.3%

+2.2M(+9%)

SPHY2.2%

+2.2M(+37%)

SPTI12.6%

+1.5M(+4%)

IJH4.4%

+1.1M(+24%)

SCHP4.9%

+940K(+6%)

XFIV0.7%

+628K(+89%)

IVV12.2%

+257K(+19%)

Decreased

VGK6.3%

-2,371,431(-26%)

IEMG2.6%

-1,914,169(-37%)

PICK1.1%

-890,994(-34%)

XLE0.3%

-516,392(-52%)

ICOP0.3%

-282,599(-36%)

BBCA0.7%

-269,832(-30%)

RING0.7%

-67,309(-8%)

Exited

-1,178,547

-402,313

-416,558

-403,857

-403,452

-420,244

-95,402

-133,074

-228,061

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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