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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
+7.77%
1 Year Est. Return
+13.04%
3 Year Est. Return
+34.61%
5 Year Est. Return
+23.86%
10 Year Est. Return
–
AUM
$6.19B
AUM Growth
+$591M
Cap. Flow
+$181M
Cap. Flow %
2.92%
Top 10 Hldgs %
71.97%
Holding
47
New
–
Increased
11
Reduced
7
Closed
1

Top Buys

Rank Stock Value
1
VGK icon
Vanguard FTSE Europe ETF
VGK
+$123M
2
EMB icon
iShares JPMorgan USD Emerging Markets Bond ETF
EMB
+$61.6M
3
IEMG icon
iShares Core MSCI Emerging Markets ETF
IEMG
+$52.6M
4
FLCA icon
Franklin FTSE Canada ETF
FLCA
+$9.55M
5
VGSH icon
Vanguard Short-Term Treasury ETF
VGSH
+$9.04M

Top Sells

Rank Stock Value
1
IVV icon
iShares Core S&P 500 ETF
IVV
+$46.2M
2
IEUR icon
iShares Core MSCI Europe ETF
IEUR
+$27M
3
IPAC icon
iShares Core MSCI Pacific ETF
IPAC
+$9.28M
4
PICK icon
iShares MSCI Global Metals & Mining Producers ETF
PICK
+$3.8M
5
SPTS icon
State Street SPDR Portfolio Short Term Treasury ETF
SPTS
+$1.52M

Sector Composition

Rank Sector Weight
1 Materials 0.41%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
XONE icon
26
BondBloxx Bloomberg One Year Target Duration US Treasury ETF
XONE
$844M
$34.8M 0.56%
700,648
+23,734
+4% +$1.18M
XTWO icon
27
BondBloxx Bloomberg Two Year Target Duration US Treasury ETF
XTWO
$210M
$34.7M 0.56%
702,414
– –
XLE icon
28
State Street Energy Select Sector SPDR ETF
XLE
$39.9B
$28.9M 0.47%
660,560
+57,800
+10% +$2.52M
GATO
29
DELISTED
Gatos Silver, Inc.
GATO
$25.4M 0.41%
6,205,259
– –
IJR icon
30
iShares Core S&P Small-Cap ETF
IJR
$112B
$24.4M 0.39%
257,838
– –
XHLF icon
31
BondBloxx Bloomberg Six Month Target Duration US Treasury ETF
XHLF
$1.99B
$20M 0.32%
400,025
– –
XTRE icon
32
BondBloxx Bloomberg Three Year Target Duration US Treasury ETF
XTRE
$165M
$19.8M 0.32%
402,313
– –
XFIV icon
33
BondBloxx Bloomberg Five Year Target Duration US Treasury ETF
XFIV
$324M
$19.7M 0.32%
403,403
– –
XSVN icon
34
BondBloxx Bloomberg Seven Year Target Duration US Treasury ETF
XSVN
$391M
$19.5M 0.31%
403,857
– –
XTEN icon
35
BondBloxx Bloomberg Ten Year Target Duration US Treasury ETF
XTEN
$1.04B
$19.2M 0.31%
403,452
– –
XTWY icon
36
BondBloxx Bloomberg Twenty Year Target Duration US Treasury ETF
XTWY
$245M
$18.2M 0.29%
400,560
– –
STIP icon
37
iShares 0-5 Year TIPS Bond ETF
STIP
$15.9B
$11.3M 0.18%
116,160
– –
XB icon
38
BondBloxx B-Rated USD High Yield Corporate Bond ETF
XB
$72.3M
$10.1M 0.16%
266,860
– –
GDXJ icon
39
VanEck Junior Gold Miners ETF
GDXJ
$8.59B
$9.98M 0.16%
280,096
– –
SPSB icon
40
State Street SPDR Portfolio Short Term Corporate Bond ETF
SPSB
$10.8B
$5.56M 0.09%
189,378
– –
SGOV icon
41
iShares 0-3 Month Treasury Bond ETF
SGOV
$101B
$4.44M 0.07%
44,355
– –
XCCC icon
42
BondBloxx CCC-Rated USD High Yield Corporate Bond ETF
XCCC
$268M
$4.41M 0.07%
121,654
– –
SPIB icon
43
State Street SPDR Portfolio Intermediate Term Corporate Bond ETF
SPIB
$11.5B
$3.88M 0.06%
121,993
-6,202
-5% -$196K
SPTL icon
44
State Street SPDR Portfolio Long Term Treasury ETF
SPTL
$10.7B
$2.42M 0.04%
83,381
-27,116
-25% -$794K
HYBB icon
45
iShares BB Rated Corporate Bond ETF
HYBB
$428M
$1.53M 0.02%
34,491
-9,265
-21% -$410K
LEMB icon
46
iShares JPMorgan EM Local Currency Bond ETF
LEMB
$722M
$1K ﹤0.01%
28
– –
IEUR icon
47
iShares Core MSCI Europe ETF
IEUR
$9.14B
– –
-682,819
Closed -$27M
1
2

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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 Q4 2022 Portfolio in Review

As of Q4 2022, Municipal Employees' Retirement System of Michigan held 47 positions worth $6.19B, up 11% from $5.6B the previous quarter. Its ten largest holdings account for 72% of the portfolio.

Trading was light in Q4 2022: portfolio turnover was 2.1%. Municipal Employees' Retirement System of Michigan opened no new positions and exited 1, leaving the 47-position portfolio largely intact.

By sector, the portfolio is most concentrated in Materials at 0.41% of assets, up from 0.3% a quarter earlier.

  • Municipal Employees' Retirement System of Michigan added most to Vanguard FTSE Europe ETF in Q4 2022, an estimated $123M increase.
  • Municipal Employees' Retirement System of Michigan's biggest Q4 2022 reduction was iShares Core S&P 500 ETF, cutting an estimated $46.2M.
  • Municipal Employees' Retirement System of Michigan fully exited iShares Core MSCI Europe ETF in Q4 2022, selling an estimated $27M.
  • Municipal Employees' Retirement System of Michigan's ten largest holdings make up 72% of its $6.19B portfolio in Q4 2022.
  • Municipal Employees' Retirement System of Michigan opened 0 new positions and closed 1 in Q4 2022.
  • Municipal Employees' Retirement System of Michigan's portfolio value rose 11% quarter-over-quarter to $6.19B.

Based on Municipal Employees' Retirement System of Michigan's 13F filing for Q4 2022, filed 10 Feb 2023.