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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
+0.47%
1 Year Est. Return
+13.04%
3 Year Est. Return
+34.61%
5 Year Est. Return
+23.86%
10 Year Est. Return
–
AUM
$7.21B
AUM Growth
-$553M
Cap. Flow
-$578M
Cap. Flow %
-8.01%
Top 10 Hldgs %
67.97%
Holding
51
New
6
Increased
11
Reduced
12
Closed
2

Top Buys

Rank Stock Value
1
IPAC icon
iShares Core MSCI Pacific ETF
IPAC
+$106M
2
MTBA icon
Simplify MBS ETF
MTBA
+$60.4M
3
VGK icon
Vanguard FTSE Europe ETF
VGK
+$57.8M
4
SPTL icon
State Street SPDR Portfolio Long Term Treasury ETF
SPTL
+$30.8M
5
PICK icon
iShares MSCI Global Metals & Mining Producers ETF
PICK
+$12.6M

Top Sells

Rank Stock Value
1
IVV icon
iShares Core S&P 500 ETF
IVV
+$237M
2
IEMG icon
iShares Core MSCI Emerging Markets ETF
IEMG
+$166M
3
EWJV icon
iShares MSCI Japan Value ETF
EWJV
+$101M
4
MBB icon
iShares MBS ETF
MBB
+$90.3M
5
IJH icon
iShares Core S&P Mid-Cap ETF
IJH
+$55.3M

Sector Composition

Rank Sector Weight
1 Materials 0.9%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BBAX icon
26
JPMorgan BetaBuilders Developed Asia Pacific-ex Japan ETF
BBAX
$6.8B
$44M 0.61%
910,009
– –
XBB icon
27
BondBloxx BB-Rated USD High Yield Corporate Bond ETF
XBB
$519M
$40.2M 0.56%
1,007,952
+11,518
+1% +$459K
SPHY icon
28
State Street SPDR Portfolio High Yield Bond ETF
SPHY
$12B
$34.3M 0.48%
1,475,743
-765,967
-34% -$17.7M
XFIV icon
29
BondBloxx Bloomberg Five Year Target Duration US Treasury ETF
XFIV
$324M
$34M 0.47%
704,064
– –
XLE icon
30
State Street Energy Select Sector SPDR ETF
XLE
$39.9B
$24.8M 0.34%
545,096
-188,714
-26% -$8.79M
XHLF icon
31
BondBloxx Bloomberg Six Month Target Duration US Treasury ETF
XHLF
$1.99B
$22.5M 0.31%
448,334
+10,000
+2% +$502K
XTWO icon
32
BondBloxx Bloomberg Two Year Target Duration US Treasury ETF
XTWO
$210M
$20.4M 0.28%
416,558
– –
XTRE icon
33
BondBloxx Bloomberg Three Year Target Duration US Treasury ETF
XTRE
$165M
$19.6M 0.27%
402,313
– –
XSVN icon
34
BondBloxx Bloomberg Seven Year Target Duration US Treasury ETF
XSVN
$391M
$19M 0.26%
403,857
– –
XTEN icon
35
BondBloxx Bloomberg Ten Year Target Duration US Treasury ETF
XTEN
$1.04B
$18.5M 0.26%
403,452
– –
XTWY icon
36
BondBloxx Bloomberg Twenty Year Target Duration US Treasury ETF
XTWY
$245M
$17.2M 0.24%
420,244
– –
SPYM
37
State Street SPDR Portfolio S&P 500 ETF
SPYM
$168B
$12.1M 0.17%
+188,321
New +$11.6M
STIP icon
38
iShares 0-5 Year TIPS Bond ETF
STIP
$15.9B
$10.9M 0.15%
109,272
-87
-0.1% -$8.63K
XB icon
39
BondBloxx B-Rated USD High Yield Corporate Bond ETF
XB
$72.3M
$10.4M 0.14%
266,860
– –
SPDW icon
40
State Street SPDR Portfolio Developed World ex-US ETF
SPDW
$41.9B
$9.37M 0.13%
+267,051
New +$9.5M
SPSB icon
41
State Street SPDR Portfolio Short Term Corporate Bond ETF
SPSB
$10.8B
$7.12M 0.1%
239,775
– –
MBB icon
42
iShares MBS ETF
MBB
$39B
$6.87M 0.1%
74,870
-991,441
-93% -$90.3M
SPIB icon
43
State Street SPDR Portfolio Intermediate Term Corporate Bond ETF
SPIB
$11.5B
$5.05M 0.07%
155,260
+5,035
+3% +$163K
XCCC icon
44
BondBloxx CCC-Rated USD High Yield Corporate Bond ETF
XCCC
$268M
$4.55M 0.06%
121,654
– –
SPEM icon
45
State Street SPDR Portfolio Emerging Markets ETF
SPEM
$17.7B
$4.24M 0.06%
+112,456
New +$4.19M
IJR icon
46
iShares Core S&P Small-Cap ETF
IJR
$112B
$2.21M 0.03%
20,735
– –
HYBB icon
47
iShares BB Rated Corporate Bond ETF
HYBB
$428M
$1.61M 0.02%
35,071
+4,372
+14% +$200K
SPMD icon
48
State Street SPDR Portfolio S&P 400 Mid Cap ETF
SPMD
$19B
$1.32M 0.02%
+25,664
New +$1.32M
SPSM icon
49
State Street SPDR Portfolio S&P 600 Small Cap ETF
SPSM
$17.5B
$664K 0.01%
+15,987
New +$666K
EWJV icon
50
iShares MSCI Japan Value ETF
EWJV
$754M
– –
-3,046,678
Closed -$101M
1
2
3

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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
Platinum Equity Advisors Beverly Hills, California $8.88B AUM 27.09% 1-Year Est. Return
SUT
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MU
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WPL
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Municipal Employees' Retirement System of Michigan's Q2 2024 Portfolio in Review

As of Q2 2024, Municipal Employees' Retirement System of Michigan held 51 positions worth $7.21B, down 7.1% from $7.76B the previous quarter. Its ten largest holdings account for 68% of the portfolio.

Municipal Employees' Retirement System of Michigan withdrew a net $578M in Q2 2024, closing 2 positions and reducing 12 holdings. Its most notable exit was iShares MSCI Japan Value ETF, an estimated $101M position sold in full.

By sector, the portfolio is most concentrated in Materials at 0.9% of assets, up from 0.67% a quarter earlier.

Against the trend, Municipal Employees' Retirement System of Michigan opened a new position in Simplify MBS ETF worth $60.4M.

  • Municipal Employees' Retirement System of Michigan's largest Q2 2024 buy was Simplify MBS ETF: 1,198,715 shares worth $60.4M.
  • Municipal Employees' Retirement System of Michigan added most to iShares Core MSCI Pacific ETF in Q2 2024, an estimated $106M increase.
  • Municipal Employees' Retirement System of Michigan's biggest Q2 2024 reduction was iShares Core S&P 500 ETF, cutting an estimated $237M.
  • Municipal Employees' Retirement System of Michigan fully exited iShares MSCI Japan Value ETF in Q2 2024, selling an estimated $101M.
  • Municipal Employees' Retirement System of Michigan's ten largest holdings make up 68% of its $7.21B portfolio in Q2 2024.
  • Municipal Employees' Retirement System of Michigan opened 6 new positions and closed 2 in Q2 2024.
  • Municipal Employees' Retirement System of Michigan's portfolio value fell 7.1% quarter-over-quarter to $7.21B.

Based on Municipal Employees' Retirement System of Michigan's 13F filing for Q2 2024, filed 5 Aug 2024.