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MERSOM

Municipal Employees' Retirement System of Michigan Portfolio holdings

AUM $9.05B
1-Year Est. Return 13.04%
This Fund
S&P 500
This Quarter Est. Return
+12.78%
1 Year Est. Return
+13.04%
3 Year Est. Return
+34.61%
5 Year Est. Return
+23.86%
10 Year Est. Return
–
AUM
$4B
AUM Growth
+$840M
Cap. Flow
+$496M
Cap. Flow %
12.39%
Top 10 Hldgs %
89.37%
Holding
1,603
New
5
Increased
101
Reduced
141
Closed
1,353

Top Buys

Rank Stock Value
1
SPTS icon
State Street SPDR Portfolio Short Term Treasury ETF
SPTS
+$529M
2
SPTI icon
State Street SPDR Portfolio Intermediate Term Treasury ETF
SPTI
+$437M
3
IJH icon
iShares Core S&P Mid-Cap ETF
IJH
+$385M
4
IVV icon
iShares Core S&P 500 ETF
IVV
+$349M
5
EMB icon
iShares JPMorgan USD Emerging Markets Bond ETF
EMB
+$159M

Top Sells

Rank Stock Value
1
HYG icon
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
+$341M
2
IEMG icon
iShares Core MSCI Emerging Markets ETF
IEMG
+$166M
3
IEUR icon
iShares Core MSCI Europe ETF
IEUR
+$165M
4
JNK icon
State Street SPDR Bloomberg High Yield Bond ETF
JNK
+$162M
5
USHY icon
iShares Broad USD High Yield Corporate Bond ETF
USHY
+$53.4M

Sector Composition

Rank Sector Weight
1 Technology 1.41%
2 Financials 1.29%
3 Healthcare 1.17%
4 Industrials 0.75%
5 Consumer Staples 0.74%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
FCX icon
226
Freeport-McMoran
FCX
$95.7B
$369K 0.01%
31,870
-20,610
-39% -$189K
TSN icon
227
Tyson Foods
TSN
$19.8B
$368K 0.01%
6,170
-5,250
-46% -$318K
WELL icon
228
Welltower
WELL
$169B
$362K 0.01%
6,990
+1,170
+20% +$57.5K
ALK icon
229
Alaska Air
ALK
$5.32B
$346K 0.01%
9,550
-1,730
-15% -$56.3K
ANET icon
230
Arista Networks
ANET
$264B
$338K 0.01%
25,760
+13,440
+109% +$182K
DAL icon
231
Delta Air Lines
DAL
$60B
$330K 0.01%
11,750
-11,960
-50% -$304K
ALGN icon
232
Align Technology
ALGN
$12.3B
$329K 0.01%
1,200
+180
+18% +$40.5K
COP icon
233
ConocoPhillips
COP
$151B
$328K 0.01%
7,800
-20,140
-72% -$815K
EXPE icon
234
Expedia Group
EXPE
$38.7B
$312K 0.01%
3,800
-8,230
-68% -$599K
EOG icon
235
EOG Resources
EOG
$74.7B
$294K 0.01%
5,800
-8,340
-59% -$404K
WMB icon
236
Williams Companies
WMB
$90B
$292K 0.01%
15,370
-1,850
-11% -$34.4K
MGM icon
237
MGM Resorts International
MGM
$11.1B
$281K 0.01%
16,730
-13,420
-45% -$217K
VTR icon
238
Ventas
VTR
$46.3B
$265K 0.01%
7,230
+1,950
+37% +$64.4K
PXD
239
DELISTED
Pioneer Natural Resource Co.
PXD
$251K 0.01%
2,570
+210
+9% +$18.5K
KSS icon
240
Kohl's
KSS
$2.17B
$171K ﹤0.01%
8,220
+5,930
+259% +$114K
JWN
241
DELISTED
Nordstrom
JWN
$163K ﹤0.01%
10,510
+8,980
+587% +$158K
BFH icon
242
Bread Financial
BFH
$4.47B
$155K ﹤0.01%
4,298
-2,468
-36% -$87.8K
CCL icon
243
Carnival Corporation Ltd
CCL
$38.4B
$154K ﹤0.01%
9,360
-12,940
-58% -$194K
MRO
244
DELISTED
Marathon Oil Corporation
MRO
$144K ﹤0.01%
23,570
-11,480
-33% -$63.5K
PVH icon
245
PVH
PVH
$3.81B
$139K ﹤0.01%
2,890
-1,020
-26% -$47.6K
FANG icon
246
Diamondback Energy
FANG
$55.9B
$110K ﹤0.01%
2,640
-2,730
-51% -$111K
UAL icon
247
United Airlines
UAL
$41B
$11K ﹤0.01%
310
-11,270
-97% -$338K
LLEN
248
DELISTED
L & L ENERGY INC COM STK (NV)
LLEN
$1K ﹤0.01%
48,200
– –
A icon
249
Agilent Technologies
A
$42B
– –
-14,410
Closed -$1.03M
AAL icon
250
American Airlines Group
AAL
$9.92B
– –
-5,510
Closed -$67K
8 9
10
11 12

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VAS
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SFM
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AI
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HI
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PEA
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SUT
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Municipal Employees' Retirement System of Michigan's Q2 2020 Portfolio in Review

As of Q2 2020, Municipal Employees' Retirement System of Michigan held 1,603 positions worth $4B, up 27% from $3.16B the previous quarter. Its ten largest holdings account for 89% of the portfolio.

Municipal Employees' Retirement System of Michigan deployed $496M of net new capital in Q2 2020, opening 5 new positions and adding to 101 existing holdings. Its largest new stake was State Street SPDR Portfolio Intermediate Term Treasury ETF: 13,211,396 shares worth $439M.

By sector, the portfolio is most concentrated in Technology at 1.4% of assets, down from 5.7% a quarter earlier, followed by Financials and Healthcare.

On the sell side, the largest reduction was iShares Core MSCI Europe ETF, an estimated $165M trimmed.

  • Municipal Employees' Retirement System of Michigan's largest Q2 2020 buy was State Street SPDR Portfolio Intermediate Term Treasury ETF: 13,211,396 shares worth $439M.
  • Municipal Employees' Retirement System of Michigan added most to State Street SPDR Portfolio Short Term Treasury ETF in Q2 2020, an estimated $529M increase.
  • Municipal Employees' Retirement System of Michigan's biggest Q2 2020 reduction was iShares Core MSCI Europe ETF, cutting an estimated $165M.
  • Municipal Employees' Retirement System of Michigan fully exited iShares iBoxx $ High Yield Corporate Bond ETF in Q2 2020, selling an estimated $341M.
  • Municipal Employees' Retirement System of Michigan's ten largest holdings make up 89% of its $4B portfolio in Q2 2020.
  • Municipal Employees' Retirement System of Michigan opened 5 new positions and closed 1,353 in Q2 2020.
  • Municipal Employees' Retirement System of Michigan's portfolio value rose 27% quarter-over-quarter to $4B.

Based on Municipal Employees' Retirement System of Michigan's 13F filing for Q2 2020, filed 6 Jul 2020.