Municipal Employees' Retirement System of Michigan 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
VANGUARD INTERMEDIATE TERM T	COM	92206C706	198,290	3,390,733	SH		SOLE		3,390,733	0	0
VANGUARD SHORT TERM TREASURY	COM	92206C102	112,562	1,946,764	SH		SOLE		1,946,764	0	0
VANGUARD FTSE EUROPE ETF	COM	922042874	248,626	4,484,595	SH		SOLE		4,484,595	0	0
VANECK JUNIOR GOLD MINERS	COM	92189F791	9,985	280,096	SH		SOLE		280,096	0	0
ENERGY SELECT SECTOR SPDR	COM	81369Y506	28,890	330,280	SH		SOLE		330,280	0	0
SPDR BLOOMBERG EM USD BOND	COM	78468R515	98,205	4,214,816	SH		SOLE		4,214,816	0	0
SPDR BLOOMBERG EM USD BOND	COM	78468R515	3,418	146,710	SH		SOLE		146,710	0	0
SPDR PORT SHRT TRM TRSRY	COM	78468R101	4,762	164,839	SH		SOLE		164,839	0	0
SPDR PORT SHRT TRM TRSRY	COM	78468R101	5,527	191,313	SH		SOLE		191,313	0	0
SPDR PORT SHRT TRM TRSRY	COM	78468R101	288,778	9,995,766	SH		SOLE		9,995,766	0	0
SPDR PORT SHRT TRM TRSRY	COM	78468R101	4,279	148,104	SH		SOLE		148,104	0	0
SPDR PORT INT TREASURY TERM	COM	78464A672	296,514	10,499,797	SH		SOLE		10,499,797	0	0
SPDR PORT LNG TRM TRSRY	COM	78464A664	2,421	83,381	SH		SOLE		83,381	0	0
SPDR PORT SHRT TRM CORP BND	COM	78464A474	5,564	189,378	SH		SOLE		189,378	0	0
SPDR BLOOMBERG EM BOND	COM	78464A391	66,302	3,224,783	SH		SOLE		3,224,783	0	0
SPDR PORT INT CORP BOND ETF	COM	78464A375	3,883	121,993	SH		SOLE		121,993	0	0
ISHARES 0 3 MONTH TREASURY B	COM	46436E718	4,442	44,355	SH		SOLE		44,355	0	0
ISHARES INTERNATIONAL DEVELO	COM	46436E510	138,469	4,592,859	SH		SOLE		4,592,859	0	0
ISHARES BROAD USD HIGH YIELD	COM	46435U853	34,959	1,012,438	SH		SOLE		1,012,438	0	0
ISHARES BB RATED CORP BOND	COM	46435U473	1,531	34,491	SH		SOLE		34,491	0	0
ISHARES CORE MSCI PACIFIC ET	COM	46434V696	683,334	12,732,147	SH		SOLE		12,732,147	0	0
ISHARES MSCI GLOBAL GOLD MIN	COM	46434G855	29,974	1,342,332	SH		SOLE		1,342,332	0	0
ISHARES MSCI GLOBAL GOLD MIN	COM	46434G855	34,236	1,533,182	SH		SOLE		1,533,182	0	0
ISHARES MSCI GLOBAL METALS	COM	46434G848	92,869	2,265,106	SH		SOLE		2,265,106	0	0
ISHARES CORE MSCI EMERGING	COM	46434G103	513,935	11,005,033	SH		SOLE		11,005,033	0	0
ISHARES 0 5 YEAR TIPS BOND E	COM	46429B747	1,756	18,112	SH		SOLE		18,112	0	0
ISHARES 0 5 YEAR TIPS BOND E	COM	46429B747	5,363	55,312	SH		SOLE		55,312	0	0
ISHARES 0 5 YEAR TIPS BOND E	COM	46429B747	4,144	42,736	SH		SOLE		42,736	0	0
ISHARES MBS ETF	COM	464288588	5,744	61,926	SH		SOLE		61,926	0	0
ISHARES MBS ETF	COM	464288588	1,099	11,849	SH		SOLE		11,849	0	0
ISHARES MBS ETF	COM	464288588	42,827	461,744	SH		SOLE		461,744	0	0
ISHARES MBS ETF	COM	464288588	7	76	SH		SOLE		76	0	0
ISHARES IBOXX HIGH YLD CORP	COM	464288513	39,719	539,447	SH		SOLE		539,447	0	0
ISHARES JP MORGAN USD EMERGI	COM	464288281	284,769	3,366,467	SH		SOLE		3,366,467	0	0
ISHARES CORE S P SMALL CAP E	COM	464287804	24,402	257,838	SH		SOLE		257,838	0	0
ISHARES CORE S P MIDCAP ETF	COM	464287507	48,729	201,450	SH		SOLE		201,450	0	0
ISHARES CORE S P MIDCAP ETF	COM	464287507	167,560	692,712	SH		SOLE		692,712	0	0
ISHARES 20 YEAR TREASURY BO	COM	464287432	122,517	1,230,585	SH		SOLE		1,230,585	0	0
ISHARES CORE S P 500 ETF	COM	464287200	707,951	1,842,614	SH		SOLE		1,842,614	0	0
ISHARES CORE S P 500 ETF	COM	464287200	241,965	629,774	SH		SOLE		629,774	0	0
ISHARES JP MORGAN EM LOCAL C	COM	464286517	1	28	SH		SOLE		28	0	0
INVESCO S P 500 QVM MULTI FA	COM	46138G581	717,047	31,064,001	SH		SOLE		31,064,001	0	0
INVESCO S P MIDCAP 400 QVM M	COM	46138G573	244,197	10,848,386	SH		SOLE		10,848,386	0	0
INVESCO S P SMALLCAP 600 QVM	COM	46138G565	96,923	4,438,731	SH		SOLE		4,438,731	0	0
GATOS SILVER INC	COM	368036109	25,380	6,205,259	SH		SOLE		6,205,259	0	0
FRANKLIN FTSE CANADA ETF	COM	35473P827	88,066	2,962,196	SH		SOLE		2,962,196	0	0
BONDBLOXX CCC USD HY CORP BD	COM	09789C887	4,412	121,654	SH		SOLE		121,654	0	0
BONDBLOXX JPM USD EM MK 1 10	COM	09789C879	173,739	4,403,623	SH		SOLE		4,403,623	0	0
BONDBLOXX BBG 1 DUR US TREAS	COM	09789C861	34,819	700,648	SH		SOLE		700,648	0	0
BONDBLOXX BBG 2Y US TSY ETF	COM	09789C853	34,678	702,414	SH		SOLE		702,414	0	0
BONDBLOXX BBG 3Y US TSY ETF	COM	09789C846	19,784	402,313	SH		SOLE		402,313	0	0
BONDBLOXX BBG 5 YR US TREAS	COM	09789C838	19,686	403,403	SH		SOLE		403,403	0	0
BONDBLOXX BBG 7 YR US TREAS	COM	09789C820	19,462	403,857	SH		SOLE		403,857	0	0
BONDBLOXX BBG 10Y US TSY ETF	COM	09789C812	19,218	403,452	SH		SOLE		403,452	0	0
BONDBLOXX B RATED USD HY CB	COM	09789C804	10,111	266,860	SH		SOLE		266,860	0	0
BONDBLOXX BBG 20Y US TSY ETF	COM	09789C796	18,201	400,560	SH		SOLE		400,560	0	0
BONDBLOXX BBG 6 MTH US TREAS	COM	09789C788	20,025	400,025	SH		SOLE		400,025	0	0
BONDBLOXX BB RATED USD HY CB	COM	09789C705	38,425	996,434	SH		SOLE		996,434	0	0