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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
AMG icon
301
Affiliated Managers Group
AMG
$9.63B
– –
-16,280
Closed -$963K
AMN icon
302
AMN Healthcare
AMN
$1.3B
– –
-14,470
Closed -$837K
AMPH icon
303
Amphastar Pharmaceuticals
AMPH
$855M
– –
-10,550
Closed -$157K
AMPY icon
304
Amplify Energy
AMPY
$208M
– –
-53,860
Closed -$30K
AMT icon
305
American Tower
AMT
$81B
– –
-6,350
Closed -$1.38M
AMSF icon
306
AMERISAFE
AMSF
$511M
– –
-5,980
Closed -$386K
AMWD
307
DELISTED
American Woodmark
AMWD
– –
-4,820
Closed -$220K
AN icon
308
AutoNation
AN
$6.89B
– –
-10,900
Closed -$306K
ANDE icon
309
Andersons Inc
ANDE
$2.22B
– –
-9,980
Closed -$187K
ANF icon
310
Abercrombie & Fitch
ANF
$4.86B
– –
-19,320
Closed -$176K
ANIK icon
311
Anika Therapeutics
ANIK
$286M
– –
-21,880
Closed -$633K
ANGO icon
312
AngioDynamics
ANGO
$645M
– –
-44,490
Closed -$465K
ANIP icon
313
ANI Pharmaceuticals
ANIP
$1.72B
– –
-2,850
Closed -$116K
ANSS
314
DELISTED
Ansys
ANSS
– –
-5,990
Closed -$1.39M
AORT icon
315
Artivion
AORT
$1.38B
– –
-11,480
Closed -$194K
AOS icon
316
A.O. Smith
AOS
$8.45B
– –
-1,930
Closed -$73K
APA icon
317
APA Corp
APA
$13.9B
– –
-13,590
Closed -$57K
APEI icon
318
American Public Education
APEI
$844M
– –
-4,910
Closed -$117K
APH icon
319
Amphenol
APH
$209B
– –
-70,360
Closed -$1.28M
APOG icon
320
Apogee Enterprises
APOG
$887M
– –
-8,120
Closed -$169K
APT icon
321
Alpha Pro Tech
APT
$55.3M
– –
-46,070
Closed -$557K
ARCB icon
322
ArcBest
ARCB
$3.27B
– –
-7,810
Closed -$137K
ARE icon
323
Alexandria Real Estate Equities
ARE
$8.32B
– –
-1,760
Closed -$241K
ARI
324
Apollo Commercial Real Estate
ARI
$887M
– –
-44,230
Closed -$328K
ARLO icon
325
Arlo Technologies
ARLO
$1.52B
– –
-22,908
Closed -$56K
11 12
13
14 15

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VAS
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SFM
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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
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SUT
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MU
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WPL
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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.