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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
-3.33%
1 Year Est. Return
+13.04%
3 Year Est. Return
+34.61%
5 Year Est. Return
+23.86%
10 Year Est. Return
–
AUM
$7.2B
AUM Growth
+$181M
Cap. Flow
+$422M
Cap. Flow %
5.87%
Top 10 Hldgs %
61.68%
Holding
51
New
–
Increased
11
Reduced
11
Closed
2

Top Buys

Rank Stock Value
1
SPTL icon
State Street SPDR Portfolio Long Term Treasury ETF
SPTL
+$192M
2
SPTI icon
State Street SPDR Portfolio Intermediate Term Treasury ETF
SPTI
+$167M
3
SPTS icon
State Street SPDR Portfolio Short Term Treasury ETF
SPTS
+$166M
4
IVV icon
iShares Core S&P 500 ETF
IVV
+$105M
5
MBB icon
iShares MBS ETF
MBB
+$73.3M

Top Sells

Rank Stock Value
1
QVML icon
Invesco S&P 500 QVM Multi-factor ETF
QVML
+$105M
2
IPAC icon
iShares Core MSCI Pacific ETF
IPAC
+$74.6M
3
EWJV icon
iShares MSCI Japan Value ETF
EWJV
+$46.5M
4
IJH icon
iShares Core S&P Mid-Cap ETF
IJH
+$38.8M
5
USHY icon
iShares Broad USD High Yield Corporate Bond ETF
USHY
+$35.7M

Sector Composition

Rank Sector Weight
1 Materials 0.45%
2 Consumer Discretionary 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
FLCA icon
26
Franklin FTSE Canada ETF
FLCA
$860M
$79.1M 1.1%
2,627,161
– –
RING icon
27
iShares MSCI Global Gold Miners ETF
RING
$2.48B
$72.8M 1.01%
3,516,117
+261,780
+8% +$5.97M
XTWO icon
28
BondBloxx Bloomberg Two Year Target Duration US Treasury ETF
XTWO
$210M
$56M 0.78%
1,144,713
– –
VGLT icon
29
Vanguard Long-Term Treasury ETF
VGLT
$10.3B
$45.8M 0.64%
825,127
+56,797
+7% +$3.39M
BBAX icon
30
JPMorgan BetaBuilders Developed Asia Pacific-ex Japan ETF
BBAX
$6.8B
$41M 0.57%
910,009
-400,590
-31% -$18.9M
XBB icon
31
BondBloxx BB-Rated USD High Yield Corporate Bond ETF
XBB
$519M
$38M 0.53%
996,434
– –
XFIV icon
32
BondBloxx Bloomberg Five Year Target Duration US Treasury ETF
XFIV
$324M
$33.4M 0.46%
704,064
– –
GATO
33
DELISTED
Gatos Silver, Inc.
GATO
$32.1M 0.45%
6,205,259
– –
XLE icon
34
State Street Energy Select Sector SPDR ETF
XLE
$39.9B
$30.1M 0.42%
665,610
– –
IJR icon
35
iShares Core S&P Small-Cap ETF
IJR
$112B
$24.3M 0.34%
257,838
– –
TLT icon
36
iShares 20+ Year Treasury Bond ETF
TLT
$40.6B
$20.6M 0.29%
232,776
– –
XTRE icon
37
BondBloxx Bloomberg Three Year Target Duration US Treasury ETF
XTRE
$165M
$19.5M 0.27%
402,313
– –
XSVN icon
38
BondBloxx Bloomberg Seven Year Target Duration US Treasury ETF
XSVN
$391M
$18.6M 0.26%
403,857
– –
XTEN icon
39
BondBloxx Bloomberg Ten Year Target Duration US Treasury ETF
XTEN
$1.04B
$17.9M 0.25%
403,452
– –
STIP icon
40
iShares 0-5 Year TIPS Bond ETF
STIP
$15.9B
$16.7M 0.23%
172,256
-238
-0.1% -$23.1K
XTWY icon
41
BondBloxx Bloomberg Twenty Year Target Duration US Treasury ETF
XTWY
$245M
$16.6M 0.23%
420,244
– –
XB icon
42
BondBloxx B-Rated USD High Yield Corporate Bond ETF
XB
$72.3M
$10.1M 0.14%
266,860
– –
GDXJ icon
43
VanEck Junior Gold Miners ETF
GDXJ
$8.59B
$7.55M 0.1%
234,159
– –
SPSB icon
44
State Street SPDR Portfolio Short Term Corporate Bond ETF
SPSB
$10.8B
$7.03M 0.1%
239,775
– –
SPIB icon
45
State Street SPDR Portfolio Intermediate Term Corporate Bond ETF
SPIB
$11.5B
$4.63M 0.06%
147,168
+7,976
+6% +$254K
XCCC icon
46
BondBloxx CCC-Rated USD High Yield Corporate Bond ETF
XCCC
$268M
$4.54M 0.06%
121,654
– –
HYBB icon
47
iShares BB Rated Corporate Bond ETF
HYBB
$428M
$1.34M 0.02%
30,699
-6,331
-17% -$281K
MLKN icon
48
MillerKnoll
MLKN
$1.64B
$2K ﹤0.01%
102
– –
LEMB icon
49
iShares JPMorgan EM Local Currency Bond ETF
LEMB
$722M
$1K ﹤0.01%
28
– –
HYG icon
50
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$17.9B
– –
-67,440
Closed -$5.06M
1
2
3

Similar funds

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
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WPL
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Municipal Employees' Retirement System of Michigan's Q3 2023 Portfolio in Review

As of Q3 2023, Municipal Employees' Retirement System of Michigan held 51 positions worth $7.2B, up 2.6% from $7.01B the previous quarter. Its ten largest holdings account for 62% of the portfolio.

Municipal Employees' Retirement System of Michigan deployed $422M of net new capital in Q3 2023, adding to 11 existing holdings.

By sector, the portfolio is most concentrated in Materials at 0.45% of assets, up from 0.33% a quarter earlier, followed by Consumer Discretionary.

On the sell side, the largest reduction was Invesco S&P 500 QVM Multi-factor ETF, an estimated $105M trimmed.

  • Municipal Employees' Retirement System of Michigan added most to State Street SPDR Portfolio Long Term Treasury ETF in Q3 2023, an estimated $192M increase.
  • Municipal Employees' Retirement System of Michigan's biggest Q3 2023 reduction was Invesco S&P 500 QVM Multi-factor ETF, cutting an estimated $105M.
  • Municipal Employees' Retirement System of Michigan fully exited iShares Broad USD High Yield Corporate Bond ETF in Q3 2023, selling an estimated $35.7M.
  • Municipal Employees' Retirement System of Michigan's ten largest holdings make up 62% of its $7.2B portfolio in Q3 2023.
  • Municipal Employees' Retirement System of Michigan opened 0 new positions and closed 2 in Q3 2023.
  • Municipal Employees' Retirement System of Michigan's portfolio value rose 2.6% quarter-over-quarter to $7.2B.

Based on Municipal Employees' Retirement System of Michigan's 13F filing for Q3 2023, filed 6 Nov 2023.