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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
BHF icon
376
Brighthouse Financial
BHF
$3.42B
– –
-20,670
Closed -$500K
BBT
377
Beacon Financial Corp
BBT
$2.71B
– –
-13,400
Closed -$199K
BIO icon
378
Bio-Rad Laboratories Class A
BIO
$9.64B
– –
-4,050
Closed -$1.42M
BJ icon
379
BJs Wholesale Club
BJ
$12B
– –
-22,930
Closed -$584K
BJRI icon
380
BJ's Restaurants
BJRI
$1.42B
– –
-5,940
Closed -$118K
BKE icon
381
Buckle
BKE
$2.3B
– –
-8,740
Closed -$120K
BKH icon
382
Black Hills Corp
BKH
$5.65B
– –
-11,530
Closed -$738K
BKNG icon
383
Booking.com
BKNG
$161B
– –
-15,250
Closed -$821K
BKR icon
384
Baker Hughes
BKR
$63B
– –
-28,760
Closed -$302K
BLD
385
DELISTED
TopBuild
BLD
– –
-10,490
Closed -$752K
BLK icon
386
Blackrock
BLK
$183B
– –
-5,500
Closed -$2.42M
BLKB icon
387
Blackbaud
BLKB
$2.11B
– –
-9,230
Closed -$513K
BLMN icon
388
Bloomin' Brands
BLMN
$926M
– –
-26,910
Closed -$192K
BMI icon
389
Badger Meter
BMI
$3.8B
– –
-9,020
Closed -$483K
BNED icon
390
Barnes & Noble Education
BNED
$424M
– –
-2,155
Closed -$293K
BOH icon
391
Bank of Hawaii
BOH
$3.16B
– –
-7,540
Closed -$417K
BOOM icon
392
DMC Global
BOOM
$154M
– –
-4,440
Closed -$102K
BOOT icon
393
Boot Barn
BOOT
$4.93B
– –
-8,850
Closed -$114K
BR icon
394
Broadridge
BR
$19.6B
– –
-1,630
Closed -$155K
BRC icon
395
Brady Corp
BRC
$4.41B
– –
-15,420
Closed -$696K
BRKL
396
DELISTED
Brookline Bancorp
BRKL
– –
-24,710
Closed -$279K
BRO icon
397
Brown & Brown
BRO
$24B
– –
-43,890
Closed -$1.59M
BRT
398
BRT Apartments
BRT
$271M
– –
-39,440
Closed -$404K
BRX icon
399
Brixmor Property Group
BRX
$9.2B
– –
-55,900
Closed -$531K
BSET icon
400
Bassett Furniture
BSET
$170M
– –
-17,840
Closed -$97K
14 15
16
17 18

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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
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
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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.