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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
CTBI icon
501
Community Trust Bancorp
CTBI
$1.44B
– –
-8,320
Closed -$264K
CTRE icon
502
CareTrust REIT
CTRE
$9.18B
– –
-29,600
Closed -$438K
CTRA
503
DELISTED
Coterra Energy
CTRA
– –
-30,520
Closed -$525K
CTRN icon
504
Citi Trends
CTRN
$621M
– –
-29,150
Closed -$259K
CTS icon
505
CTS Corp
CTS
$1.79B
– –
-30,400
Closed -$757K
CTSH icon
506
Cognizant
CTSH
$26.7B
– –
-18,940
Closed -$880K
CTVA icon
507
Corteva
CTVA
$50.6B
– –
-10,731
Closed -$252K
CUBI icon
508
Customers Bancorp
CUBI
$2.82B
– –
-8,930
Closed -$98K
CUZ icon
509
Cousins Properties
CUZ
$4.93B
– –
-27,540
Closed -$806K
CVBF icon
510
CVB Financial
CVBF
$4.08B
– –
-41,230
Closed -$827K
CVCO icon
511
Cavco Industries
CVCO
$4.67B
– –
-2,660
Closed -$386K
CVGW
512
DELISTED
Calavo Growers
CVGW
– –
-5,070
Closed -$292K
CVGI icon
513
Commercial Vehicle Group
CVGI
$130M
– –
-90,360
Closed -$136K
CVLG icon
514
Covenant Logistics
CVLG
$880M
– –
-88,840
Closed -$385K
CVLT icon
515
Commault Systems
CVLT
$6.26B
– –
-7,890
Closed -$319K
CW icon
516
Curtiss-Wright
CW
$25.4B
– –
-8,010
Closed -$740K
CWT icon
517
California Water Service
CWT
$3.1B
– –
-14,910
Closed -$750K
CXT icon
518
Crane NXT
CXT
$2.96B
– –
-27,552
Closed -$471K
CXW icon
519
CoreCivic
CXW
$3.13B
– –
-22,350
Closed -$250K
CYH icon
520
Community Health Systems
CYH
$419M
– –
-35,790
Closed -$120K
CYTK icon
521
Cytokinetics
CYTK
$10.2B
– –
-18,300
Closed -$216K
CZR icon
522
Caesars Entertainment
CZR
$6.04B
– –
-12,260
Closed -$177K
DAKT icon
523
Daktronics
DAKT
$988M
– –
-11,190
Closed -$55K
DAN icon
524
Dana Inc
DAN
$3.26B
– –
-26,700
Closed -$209K
DAR icon
525
Darling Ingredients
DAR
$10.4B
– –
-30,720
Closed -$589K
19 20
21
22 23

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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
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
Mirova US Boston, Massachusetts $8.81B AUM 21.38% 1-Year Est. Return
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.