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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
AAOI icon
251
Applied Optoelectronics
AAOI
$11.8B
– –
-5,820
Closed -$44K
AAON icon
252
Aaon
AAON
$7.43B
– –
-18,885
Closed -$608K
AAP icon
253
Advance Auto Parts
AAP
$3.33B
– –
-1,010
Closed -$94K
AAT
254
American Assets Trust
AAT
$1.4B
– –
-14,860
Closed -$372K
ABCB icon
255
Ameris Bancorp
ABCB
$5.97B
– –
-20,284
Closed -$482K
ABG icon
256
Asbury Automotive
ABG
$3.75B
– –
-5,990
Closed -$331K
ABM icon
257
ABM Industries
ABM
$2.82B
– –
-20,580
Closed -$501K
ABR icon
258
Arbor Realty Trust
ABR
$970M
– –
-46,287
Closed -$227K
ACA icon
259
Arcosa
ACA
$7.13B
– –
-14,990
Closed -$596K
ACHC icon
260
Acadia Healthcare
ACHC
$2.9B
– –
-16,420
Closed -$301K
ACIC icon
261
American Coastal Insurance
ACIC
$461M
– –
-6,230
Closed -$58K
ACIW icon
262
ACI Worldwide
ACIW
$5.3B
– –
-21,650
Closed -$523K
ACLS icon
263
Axcelis
ACLS
$4.49B
– –
-9,890
Closed -$181K
ACM icon
264
Aecom
ACM
$7.81B
– –
-29,480
Closed -$880K
ACRE
265
Ares Commercial Real Estate
ACRE
$261M
– –
-27,650
Closed -$193K
ADC icon
266
Agree Realty
ADC
$9.3B
– –
-14,070
Closed -$871K
ADEA icon
267
Adeia
ADEA
$3.16B
– –
-57,078
Closed -$210K
ADI icon
268
Analog Devices
ADI
$188B
– –
-5,242
Closed -$470K
ADSK icon
269
Autodesk
ADSK
$51.5B
– –
-3,150
Closed -$492K
ADTN icon
270
Adtran
ADTN
$671M
– –
-14,630
Closed -$112K
ADUS icon
271
Addus HomeCare
ADUS
$2.21B
– –
-16,760
Closed -$1.13M
AEIS icon
272
Advanced Energy
AEIS
$13.6B
– –
-11,870
Closed -$576K
AEO icon
273
American Eagle Outfitters
AEO
$2.66B
– –
-29,810
Closed -$237K
AEP icon
274
American Electric Power
AEP
$68.1B
– –
-7,080
Closed -$566K
AES icon
275
AES
AES
$10.5B
– –
-55,620
Closed -$756K
9 10
11
12 13

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VAS
Vestmark Advisory Solutions Wakefield, Massachusetts $9.02B AUM 20.58% 1-Year Est. Return
SFM
Soros Fund Management New York $9.12B AUM 30.69% 1-Year Est. Return
AI
Ariel Investments Chicago, Illinois $8.93B AUM 29.58% 1-Year Est. Return
HI
Horizon Investments Charlotte, North Carolina $8.92B AUM 25.62% 1-Year Est. Return
PEA
Platinum Equity Advisors Beverly Hills, California $8.88B AUM 27.09% 1-Year Est. Return
SUT
SC US (TTGP) Menlo Park, California $9.25B AUM 20.49% 1-Year Est. Return
MU
Mirova US Boston, Massachusetts $8.81B AUM 21.38% 1-Year Est. Return
WPL
WINDACRE PARTNERSHIP LLC Houston, Texas $9.34B AUM 17.41% 1-Year Est. Return

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.