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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
+2.03%
1 Year Est. Return
+13.04%
3 Year Est. Return
+34.61%
5 Year Est. Return
+23.86%
10 Year Est. Return
–
AUM
$7.01B
AUM Growth
+$528M
Cap. Flow
+$404M
Cap. Flow %
5.77%
Top 10 Hldgs %
63.62%
Holding
52
New
3
Increased
12
Reduced
6
Closed
1

Top Buys

Rank Stock Value
1
TUA icon
Simplify Short Term Treasury Futures Strategy ETF
TUA
+$351M
2
XONE icon
BondBloxx Bloomberg One Year Target Duration US Treasury ETF
XONE
+$163M
3
BBEU icon
JPMorgan BetaBuilders Europe ETF
BBEU
+$102M
4
XHLF icon
BondBloxx Bloomberg Six Month Target Duration US Treasury ETF
XHLF
+$52M
5
VGLT icon
Vanguard Long-Term Treasury ETF
VGLT
+$34.2M

Top Sells

Rank Stock Value
1
SPTI icon
State Street SPDR Portfolio Intermediate Term Treasury ETF
SPTI
+$233M
2
TLT icon
iShares 20+ Year Treasury Bond ETF
TLT
+$91.7M
3
XLE icon
State Street Energy Select Sector SPDR ETF
XLE
+$7.5M
4
SPTS icon
State Street SPDR Portfolio Short Term Treasury ETF
SPTS
+$6.3M
5
SGOV icon
iShares 0-3 Month Treasury Bond ETF
SGOV
+$2.21M

Sector Composition

Rank Sector Weight
1 Materials 0.33%
2 Consumer Discretionary 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
XTWO icon
26
BondBloxx Bloomberg Two Year Target Duration US Treasury ETF
XTWO
$210M
$56.2M 0.8%
1,144,713
– –
VGLT icon
27
Vanguard Long-Term Treasury ETF
VGLT
$10.3B
$48.8M 0.7%
768,330
+533,249
+227% +$34.2M
XBB icon
28
BondBloxx BB-Rated USD High Yield Corporate Bond ETF
XBB
$519M
$39M 0.56%
996,434
– –
USHY icon
29
iShares Broad USD High Yield Corporate Bond ETF
USHY
$29.1B
$35.7M 0.51%
1,012,438
– –
XFIV icon
30
BondBloxx Bloomberg Five Year Target Duration US Treasury ETF
XFIV
$324M
$34.3M 0.49%
704,064
– –
XLE icon
31
State Street Energy Select Sector SPDR ETF
XLE
$39.9B
$27M 0.39%
665,610
-184,020
-22% -$7.5M
MBB icon
32
iShares MBS ETF
MBB
$39B
$26.2M 0.37%
280,635
+5,126
+2% +$482K
IJR icon
33
iShares Core S&P Small-Cap ETF
IJR
$112B
$25.7M 0.37%
257,838
– –
TLT icon
34
iShares 20+ Year Treasury Bond ETF
TLT
$40.6B
$24M 0.34%
232,776
-883,860
-79% -$91.7M
GATO
35
DELISTED
Gatos Silver, Inc.
GATO
$23.5M 0.33%
6,205,259
– –
XTWY icon
36
BondBloxx Bloomberg Twenty Year Target Duration US Treasury ETF
XTWY
$245M
$19.8M 0.28%
420,244
– –
XTRE icon
37
BondBloxx Bloomberg Three Year Target Duration US Treasury ETF
XTRE
$165M
$19.7M 0.28%
402,313
– –
XSVN icon
38
BondBloxx Bloomberg Seven Year Target Duration US Treasury ETF
XSVN
$391M
$19.5M 0.28%
403,857
– –
XTEN icon
39
BondBloxx Bloomberg Ten Year Target Duration US Treasury ETF
XTEN
$1.04B
$19.5M 0.28%
403,452
– –
STIP icon
40
iShares 0-5 Year TIPS Bond ETF
STIP
$15.9B
$16.8M 0.24%
172,494
+16,318
+10% +$1.61M
XB icon
41
BondBloxx B-Rated USD High Yield Corporate Bond ETF
XB
$72.3M
$10.3M 0.15%
266,860
– –
GDXJ icon
42
VanEck Junior Gold Miners ETF
GDXJ
$8.59B
$8.35M 0.12%
234,159
– –
SPSB icon
43
State Street SPDR Portfolio Short Term Corporate Bond ETF
SPSB
$10.8B
$7.06M 0.1%
239,775
+52,906
+28% +$1.56M
HYG icon
44
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$17.9B
$5.06M 0.07%
67,440
– –
XCCC icon
45
BondBloxx CCC-Rated USD High Yield Corporate Bond ETF
XCCC
$268M
$4.59M 0.07%
121,654
– –
SPIB icon
46
State Street SPDR Portfolio Intermediate Term Corporate Bond ETF
SPIB
$11.5B
$4.47M 0.06%
139,192
-2,786
-2% -$90K
SPTL icon
47
State Street SPDR Portfolio Long Term Treasury ETF
SPTL
$10.7B
$1.71M 0.02%
57,326
-26,055
-31% -$787K
HYBB icon
48
iShares BB Rated Corporate Bond ETF
HYBB
$428M
$1.66M 0.02%
37,030
+591
+2% +$26.4K
SPTI icon
49
State Street SPDR Portfolio Intermediate Term Treasury ETF
SPTI
$10.6B
$5K ﹤0.01%
167
-8,082,504
-100% -$233M
MLKN icon
50
MillerKnoll
MLKN
$1.64B
$2K ﹤0.01%
102
– –
1
2
3

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SFM
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AI
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HI
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PEA
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SUT
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Municipal Employees' Retirement System of Michigan's Q2 2023 Portfolio in Review

As of Q2 2023, Municipal Employees' Retirement System of Michigan held 52 positions worth $7.01B, up 8.1% from $6.49B the previous quarter. Its ten largest holdings account for 64% of the portfolio.

Municipal Employees' Retirement System of Michigan deployed $404M of net new capital in Q2 2023, opening 3 new positions and adding to 12 existing holdings. Its largest new stake was Simplify Short Term Treasury Futures Strategy ETF: 14,296,810 shares worth $324M.

By sector, the portfolio is most concentrated in Materials at 0.33% of assets, down from 0.62% a quarter earlier, followed by Consumer Discretionary.

On the sell side, the largest reduction was State Street SPDR Portfolio Intermediate Term Treasury ETF, an estimated $233M trimmed.

  • Municipal Employees' Retirement System of Michigan's largest Q2 2023 buy was Simplify Short Term Treasury Futures Strategy ETF: 14,296,810 shares worth $324M.
  • Municipal Employees' Retirement System of Michigan added most to BondBloxx Bloomberg One Year Target Duration US Treasury ETF in Q2 2023, an estimated $163M increase.
  • Municipal Employees' Retirement System of Michigan's biggest Q2 2023 reduction was State Street SPDR Portfolio Intermediate Term Treasury ETF, cutting an estimated $233M.
  • Municipal Employees' Retirement System of Michigan fully exited iShares 0-3 Month Treasury Bond ETF in Q2 2023, selling an estimated $2.21M.
  • Municipal Employees' Retirement System of Michigan's ten largest holdings make up 64% of its $7.01B portfolio in Q2 2023.
  • Municipal Employees' Retirement System of Michigan opened 3 new positions and closed 1 in Q2 2023.
  • Municipal Employees' Retirement System of Michigan's portfolio value rose 8.1% quarter-over-quarter to $7.01B.

Based on Municipal Employees' Retirement System of Michigan's 13F filing for Q2 2023, filed 3 Aug 2023.