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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
BSX icon
401
Boston Scientific
BSX
$75.1B
– –
-19,980
Closed -$652K
BY icon
402
Byline Bancorp
BY
$1.78B
– –
-26,540
Closed -$275K
BYD icon
403
Boyd Gaming
BYD
$6.03B
– –
-15,020
Closed -$217K
C icon
404
Citigroup
C
$232B
– –
-79,510
Closed -$3.35M
CABO icon
405
Cable One
CABO
$206M
– –
-940
Closed -$1.54M
CAC icon
406
Camden National
CAC
$993M
– –
-9,940
Closed -$313K
CACI icon
407
CACI
CACI
$14.9B
– –
-4,700
Closed -$992K
CADE
408
DELISTED
Cadence Bank
CADE
– –
-18,010
Closed -$341K
CAH icon
409
Cardinal Health
CAH
$53.6B
– –
-15,100
Closed -$724K
CAKE icon
410
Cheesecake Factory
CAKE
$5.6B
– –
-7,530
Closed -$129K
CAL icon
411
Caleres
CAL
$464M
– –
-12,920
Closed -$67K
CALM icon
412
Cal-Maine
CALM
$3.91B
– –
-9,270
Closed -$408K
CAR icon
413
Avis
CAR
$4.91B
– –
-10,850
Closed -$151K
CASH icon
414
Pathward Financial
CASH
$1.79B
– –
-33,080
Closed -$719K
CASY icon
415
Casey's General Stores
CASY
$31.6B
– –
-6,900
Closed -$914K
CAT icon
416
Caterpillar
CAT
$392B
– –
-13,080
Closed -$1.52M
CATO icon
417
Cato Corp
CATO
$67.3M
– –
-46,380
Closed -$495K
CATY icon
418
Cathay General Bancorp
CATY
$4.31B
– –
-14,070
Closed -$323K
CBRL icon
419
Cracker Barrel
CBRL
$1.31B
– –
-4,520
Closed -$376K
CBSH icon
420
Commerce Bancshares
CBSH
$8.6B
– –
-26,084
Closed -$980K
CBT icon
421
Cabot Corp
CBT
$4.45B
– –
-10,720
Closed -$280K
CBU icon
422
Community Bank
CBU
$3.45B
– –
-16,020
Closed -$942K
CBZ icon
423
CBIZ
CBZ
$2.97B
– –
-45,020
Closed -$942K
CC icon
424
Chemours
CC
$2.31B
– –
-30,320
Closed -$269K
CCBG icon
425
Capital City Bank Group
CCBG
$898M
– –
-13,080
Closed -$263K
15 16
17
18 19

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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
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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.