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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
CL icon
451
Colgate-Palmolive
CL
$74.1B
– –
-12,280
Closed -$815K
CLDT
452
Chatham Lodging
CLDT
$601M
– –
-14,360
Closed -$85K
CLF icon
453
Cleveland-Cliffs
CLF
$6.93B
– –
-122,402
Closed -$483K
CLH icon
454
Clean Harbors
CLH
$16.9B
– –
-9,640
Closed -$495K
CLNE icon
455
Clean Energy Fuels
CLNE
$395M
– –
-156,810
Closed -$279K
CLW icon
456
Clearwater Paper
CLW
$354M
– –
-5,050
Closed -$110K
CLX icon
457
Clorox
CLX
$12.9B
– –
-1,790
Closed -$310K
CMA
458
DELISTED
Comerica
CMA
– –
-12,660
Closed -$371K
CMC icon
459
Commercial Metals
CMC
$7.98B
– –
-22,270
Closed -$352K
CMCO icon
460
Columbus McKinnon
CMCO
$550M
– –
-18,250
Closed -$456K
CME icon
461
CME Group
CME
$96.1B
– –
-5,140
Closed -$889K
CMG icon
462
Chipotle Mexican Grill
CMG
$41.3B
– –
-18,000
Closed -$236K
CMI icon
463
Cummins
CMI
$87B
– –
-9,620
Closed -$1.3M
CMP icon
464
Compass Minerals
CMP
$1.1B
– –
-6,360
Closed -$245K
CMS icon
465
CMS Energy
CMS
$22.1B
– –
-3,980
Closed -$234K
CMTL icon
466
Comtech Telecommunications
CMTL
$52.7M
– –
-40,250
Closed -$534K
CNC icon
467
Centene
CNC
$32.6B
– –
-15,339
Closed -$911K
CNK icon
468
Cinemark Holdings
CNK
$4.37B
– –
-20,010
Closed -$204K
CNMD icon
469
CONMED
CNMD
$1.49B
– –
-8,790
Closed -$503K
CNO icon
470
CNO Financial Group
CNO
$5.07B
– –
-28,940
Closed -$359K
CNOB icon
471
Center Bancorp
CNOB
$1.81B
– –
-18,710
Closed -$251K
CNP icon
472
CenterPoint Energy
CNP
$26.7B
– –
-58,430
Closed -$903K
CNX icon
473
CNX Resources
CNX
$5.23B
– –
-34,410
Closed -$183K
CNXN icon
474
PC Connection
CNXN
$2.04B
– –
-46,430
Closed -$1.91M
COHR icon
475
Coherent
COHR
$64B
– –
-16,370
Closed -$467K
17 18
19
20 21

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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
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
PVI
Partners Value Investments Hamilton, Bermuda $9.34B AUM 12.2% 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.