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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
DBI icon
526
Designer Brands
DBI
$312M
– –
-17,090
Closed -$85K
DCI icon
527
Donaldson
DCI
$11.1B
– –
-23,650
Closed -$914K
DCO icon
528
Ducommun
DCO
$3.01B
– –
-17,160
Closed -$426K
DCOM icon
529
Dime Commercial Bancshares
DCOM
$1.82B
– –
-13,680
Closed -$289K
DD icon
530
DuPont de Nemours
DD
$19.5B
– –
-8,437
Closed -$361K
DDD icon
531
3D Systems Corp
DDD
$601M
– –
-36,690
Closed -$283K
DDS icon
532
Dillards
DDS
$9.59B
– –
-1,870
Closed -$69K
DE icon
533
Deere & Co
DE
$165B
– –
-4,510
Closed -$623K
DEA
534
Easterly Government Properties
DEA
$1.18B
– –
-9,188
Closed -$566K
DECK icon
535
Deckers Outdoor
DECK
$12.7B
– –
-31,500
Closed -$704K
DEI icon
536
Douglas Emmett
DEI
$1.99B
– –
-30,930
Closed -$944K
DFIN icon
537
Donnelley Financial Solutions
DFIN
$1.22B
– –
-66,340
Closed -$349K
DFS
538
DELISTED
Discover Financial Services
DFS
– –
-19,460
Closed -$694K
DG icon
539
Dollar General
DG
$26.9B
– –
-3,640
Closed -$550K
DGII icon
540
Digi International
DGII
$3.23B
– –
-43,910
Closed -$419K
DGX icon
541
Quest Diagnostics
DGX
$26.1B
– –
-10,540
Closed -$846K
DHC
542
Diversified Healthcare Trust
DHC
$2.03B
– –
-43,870
Closed -$159K
DHR icon
543
Danaher
DHR
$143B
– –
-10,332
Closed -$1.27M
DHT icon
544
DHT Holdings
DHT
$3.09B
– –
-98,470
Closed -$755K
DIN icon
545
Dine Brands
DIN
$440M
– –
-5,260
Closed -$151K
DINO icon
546
HF Sinclair
DINO
$16.3B
– –
-9,900
Closed -$242K
DIOD icon
547
Diodes
DIOD
$4.48B
– –
-12,810
Closed -$521K
DKS icon
548
Dick's Sporting Goods
DKS
$18.1B
– –
-12,220
Closed -$260K
DLHC icon
549
DLH Holdings
DLHC
$68.7M
– –
-61,430
Closed -$259K
DLR icon
550
Digital Realty Trust
DLR
$73.1B
– –
-2,960
Closed -$411K
20 21
22
23 24

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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
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
WINDACRE PARTNERSHIP LLC Houston, Texas $9.34B AUM 17.41% 1-Year Est. Return
PVI
Partners Value Investments Hamilton, Bermuda $9.34B AUM 12.2% 1-Year Est. Return

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.