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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
+8.22%
1 Year Est. Return
+13.04%
3 Year Est. Return
+34.61%
5 Year Est. Return
+23.86%
10 Year Est. Return
–
AUM
$7.48B
AUM Growth
+$287M
Cap. Flow
-$275M
Cap. Flow %
-3.68%
Top 10 Hldgs %
61.23%
Holding
49
New
–
Increased
6
Reduced
7
Closed
3

Top Buys

Rank Stock Value
1
RING icon
iShares MSCI Global Gold Miners ETF
RING
+$12M
2
SPTL icon
State Street SPDR Portfolio Long Term Treasury ETF
SPTL
+$6.01M
3
PICK icon
iShares MSCI Global Metals & Mining Producers ETF
PICK
+$4.47M
4
EMB icon
iShares JPMorgan USD Emerging Markets Bond ETF
EMB
+$2.64M
5
IJH icon
iShares Core S&P Mid-Cap ETF
IJH
+$1.68M

Top Sells

Rank Stock Value
1
IVV icon
iShares Core S&P 500 ETF
IVV
+$166M
2
SPHY icon
State Street SPDR Portfolio High Yield Bond ETF
SPHY
+$64.9M
3
IEMG icon
iShares Core MSCI Emerging Markets ETF
IEMG
+$24.5M
4
TLT icon
iShares 20+ Year Treasury Bond ETF
TLT
+$20.6M
5
VGSH icon
Vanguard Short-Term Treasury ETF
VGSH
+$12.2M

Sector Composition

Rank Sector Weight
1 Materials 0.54%
2 Consumer Discretionary 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
XHLF icon
26
BondBloxx Bloomberg Six Month Target Duration US Treasury ETF
XHLF
$1.99B
$86.1M 1.15%
1,714,155
– –
SPHY icon
27
State Street SPDR Portfolio High Yield Bond ETF
SPHY
$12B
$74M 0.99%
3,162,996
-2,871,765
-48% -$64.9M
XTWO icon
28
BondBloxx Bloomberg Two Year Target Duration US Treasury ETF
XTWO
$210M
$56.6M 0.76%
1,144,713
– –
VGLT icon
29
Vanguard Long-Term Treasury ETF
VGLT
$10.3B
$50.8M 0.68%
825,127
– –
BBAX icon
30
JPMorgan BetaBuilders Developed Asia Pacific-ex Japan ETF
BBAX
$6.8B
$45.1M 0.6%
910,009
– –
GATO
31
DELISTED
Gatos Silver, Inc.
GATO
$40.6M 0.54%
6,205,259
– –
XBB icon
32
BondBloxx BB-Rated USD High Yield Corporate Bond ETF
XBB
$519M
$39.9M 0.53%
996,434
– –
XFIV icon
33
BondBloxx Bloomberg Five Year Target Duration US Treasury ETF
XFIV
$324M
$34.6M 0.46%
704,064
– –
IJR icon
34
iShares Core S&P Small-Cap ETF
IJR
$112B
$28.9M 0.39%
266,718
+8,880
+3% +$856K
XTRE icon
35
BondBloxx Bloomberg Three Year Target Duration US Treasury ETF
XTRE
$165M
$19.9M 0.27%
402,313
– –
XLE icon
36
State Street Energy Select Sector SPDR ETF
XLE
$39.9B
$19.8M 0.26%
472,604
-193,006
-29% -$8.25M
XSVN icon
37
BondBloxx Bloomberg Seven Year Target Duration US Treasury ETF
XSVN
$391M
$19.5M 0.26%
403,857
– –
XTEN icon
38
BondBloxx Bloomberg Ten Year Target Duration US Treasury ETF
XTEN
$1.04B
$19.3M 0.26%
403,452
– –
XTWY icon
39
BondBloxx Bloomberg Twenty Year Target Duration US Treasury ETF
XTWY
$245M
$18.9M 0.25%
420,244
– –
STIP icon
40
iShares 0-5 Year TIPS Bond ETF
STIP
$15.9B
$10.7M 0.14%
108,346
-63,910
-37% -$6.23M
XB icon
41
BondBloxx B-Rated USD High Yield Corporate Bond ETF
XB
$72.3M
$10.5M 0.14%
266,860
– –
GDXJ icon
42
VanEck Junior Gold Miners ETF
GDXJ
$8.59B
$8.88M 0.12%
234,159
– –
SPSB icon
43
State Street SPDR Portfolio Short Term Corporate Bond ETF
SPSB
$10.8B
$7.14M 0.1%
239,775
– –
SPIB icon
44
State Street SPDR Portfolio Intermediate Term Corporate Bond ETF
SPIB
$11.5B
$4.83M 0.06%
147,168
– –
XCCC icon
45
BondBloxx CCC-Rated USD High Yield Corporate Bond ETF
XCCC
$268M
$4.7M 0.06%
121,654
– –
HYBB icon
46
iShares BB Rated Corporate Bond ETF
HYBB
$428M
$1.41M 0.02%
30,699
– –
LEMB icon
47
iShares JPMorgan EM Local Currency Bond ETF
LEMB
$722M
– –
-28
Closed -$1K
MLKN icon
48
MillerKnoll
MLKN
$1.64B
– –
-102
Closed -$2K
TLT icon
49
iShares 20+ Year Treasury Bond ETF
TLT
$40.6B
– –
-232,776
Closed -$20.6M
1
2

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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
Horizon Investments Charlotte, North Carolina $8.92B AUM 25.62% 1-Year Est. Return
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 Q4 2023 Portfolio in Review

As of Q4 2023, Municipal Employees' Retirement System of Michigan held 49 positions worth $7.48B, up 4% from $7.2B the previous quarter. Its ten largest holdings account for 61% of the portfolio.

Municipal Employees' Retirement System of Michigan withdrew a net $275M in Q4 2023, closing 3 positions and reducing 7 holdings. Its most notable exit was iShares 20+ Year Treasury Bond ETF, an estimated $20.6M position sold in full.

By sector, the portfolio is most concentrated in Materials at 0.54% of assets, up from 0.45% a quarter earlier, followed by Consumer Discretionary.

Against the trend, Municipal Employees' Retirement System of Michigan added an estimated $12M to iShares MSCI Global Gold Miners ETF.

  • Municipal Employees' Retirement System of Michigan added most to iShares MSCI Global Gold Miners ETF in Q4 2023, an estimated $12M increase.
  • Municipal Employees' Retirement System of Michigan's biggest Q4 2023 reduction was iShares Core S&P 500 ETF, cutting an estimated $166M.
  • Municipal Employees' Retirement System of Michigan fully exited iShares 20+ Year Treasury Bond ETF in Q4 2023, selling an estimated $20.6M.
  • Municipal Employees' Retirement System of Michigan's ten largest holdings make up 61% of its $7.48B portfolio in Q4 2023.
  • Municipal Employees' Retirement System of Michigan opened 0 new positions and closed 3 in Q4 2023.
  • Municipal Employees' Retirement System of Michigan's portfolio value rose 4% quarter-over-quarter to $7.48B.

Based on Municipal Employees' Retirement System of Michigan's 13F filing for Q4 2023, filed 5 Feb 2024.