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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
+12.78%
1 Year Est. Return
+13.04%
3 Year Est. Return
+34.61%
5 Year Est. Return
+23.86%
10 Year Est. Return
–
AUM
$4B
AUM Growth
+$840M
Cap. Flow
+$496M
Cap. Flow %
12.39%
Top 10 Hldgs %
89.37%
Holding
1,603
New
5
Increased
101
Reduced
141
Closed
1,353

Top Buys

Rank Stock Value
1
SPTS icon
State Street SPDR Portfolio Short Term Treasury ETF
SPTS
+$529M
2
SPTI icon
State Street SPDR Portfolio Intermediate Term Treasury ETF
SPTI
+$437M
3
IJH icon
iShares Core S&P Mid-Cap ETF
IJH
+$385M
4
IVV icon
iShares Core S&P 500 ETF
IVV
+$349M
5
EMB icon
iShares JPMorgan USD Emerging Markets Bond ETF
EMB
+$159M

Top Sells

Rank Stock Value
1
HYG icon
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
+$341M
2
IEMG icon
iShares Core MSCI Emerging Markets ETF
IEMG
+$166M
3
IEUR icon
iShares Core MSCI Europe ETF
IEUR
+$165M
4
JNK icon
State Street SPDR Bloomberg High Yield Bond ETF
JNK
+$162M
5
USHY icon
iShares Broad USD High Yield Corporate Bond ETF
USHY
+$53.4M

Sector Composition

Rank Sector Weight
1 Technology 1.41%
2 Financials 1.29%
3 Healthcare 1.17%
4 Industrials 0.75%
5 Consumer Staples 0.74%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
COHU icon
476
Cohu
COHU
$2.76B
– –
-12,780
Closed -$158K
COKE icon
477
Coca-Cola Consolidated
COKE
$12.7B
– –
-14,400
Closed -$300K
COLB icon
478
Columbia Banking Systems
COLB
$9.18B
– –
-22,320
Closed -$598K
COLM icon
479
Columbia Sportswear
COLM
$2.96B
– –
-5,450
Closed -$380K
CORT icon
480
Corcept Therapeutics
CORT
$11.9B
– –
-31,860
Closed -$379K
COTY icon
481
Coty
COTY
$2.42B
– –
-4,160
Closed -$21K
CPF icon
482
Central Pacific Financial
CPF
$1B
– –
-8,740
Closed -$139K
CPRT icon
483
Copart
CPRT
$27.2B
– –
-49,960
Closed -$856K
CPS icon
484
Cooper-Standard Automotive
CPS
$484M
– –
-5,120
Closed -$53K
CPT icon
485
Camden Property Trust
CPT
$11.1B
– –
-18,170
Closed -$1.44M
CRAI icon
486
CRA International
CRAI
$1.07B
– –
-14,680
Closed -$490K
CRI icon
487
Carter's
CRI
$1.44B
– –
-8,300
Closed -$546K
CRL icon
488
Charles River Laboratories
CRL
$13.4B
– –
-9,170
Closed -$1.16M
CRMT icon
489
America's Car Mart
CRMT
$25.7M
– –
-1,910
Closed -$108K
CROX icon
490
Crocs
CROX
$6.36B
– –
-21,300
Closed -$362K
CRS icon
491
Carpenter Technology
CRS
$26.6B
– –
-8,960
Closed -$175K
CRUS icon
492
Cirrus Logic
CRUS
$6.08B
– –
-10,780
Closed -$707K
CRVL icon
493
CorVel
CRVL
$3.25B
– –
-8,310
Closed -$151K
CRWS icon
494
Crown Crafts
CRWS
$28.6M
– –
-69,000
Closed -$330K
CSGS
495
DELISTED
CSG Systems International
CSGS
– –
-10,210
Closed -$427K
CSL icon
496
Carlisle Companies
CSL
$14.9B
– –
-10,640
Closed -$1.33M
CSR
497
Centerspace
CSR
$939M
– –
-3,590
Closed -$197K
CSTE icon
498
Caesarstone
CSTE
$105M
– –
-36,470
Closed -$385K
CSW
499
CSW Industrials
CSW
$5.59B
– –
-7,850
Closed -$509K
CSX icon
500
CSX Corp
CSX
$92.9B
– –
-33,930
Closed -$648K
18 19
20
21 22

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SFM
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AI
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PEA
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SUT
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MU
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WPL
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PVI
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Municipal Employees' Retirement System of Michigan's Q2 2020 Portfolio in Review

As of Q2 2020, Municipal Employees' Retirement System of Michigan held 1,603 positions worth $4B, up 27% from $3.16B the previous quarter. Its ten largest holdings account for 89% of the portfolio.

Municipal Employees' Retirement System of Michigan deployed $496M of net new capital in Q2 2020, opening 5 new positions and adding to 101 existing holdings. Its largest new stake was State Street SPDR Portfolio Intermediate Term Treasury ETF: 13,211,396 shares worth $439M.

By sector, the portfolio is most concentrated in Technology at 1.4% of assets, down from 5.7% a quarter earlier, followed by Financials and Healthcare.

On the sell side, the largest reduction was iShares Core MSCI Europe ETF, an estimated $165M trimmed.

  • Municipal Employees' Retirement System of Michigan's largest Q2 2020 buy was State Street SPDR Portfolio Intermediate Term Treasury ETF: 13,211,396 shares worth $439M.
  • Municipal Employees' Retirement System of Michigan added most to State Street SPDR Portfolio Short Term Treasury ETF in Q2 2020, an estimated $529M increase.
  • Municipal Employees' Retirement System of Michigan's biggest Q2 2020 reduction was iShares Core MSCI Europe ETF, cutting an estimated $165M.
  • Municipal Employees' Retirement System of Michigan fully exited iShares iBoxx $ High Yield Corporate Bond ETF in Q2 2020, selling an estimated $341M.
  • Municipal Employees' Retirement System of Michigan's ten largest holdings make up 89% of its $4B portfolio in Q2 2020.
  • Municipal Employees' Retirement System of Michigan opened 5 new positions and closed 1,353 in Q2 2020.
  • Municipal Employees' Retirement System of Michigan's portfolio value rose 27% quarter-over-quarter to $4B.

Based on Municipal Employees' Retirement System of Michigan's 13F filing for Q2 2020, filed 6 Jul 2020.