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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
DLTR icon
551
Dollar Tree
DLTR
$24.9B
– –
-3,337
Closed -$245K
DLX icon
552
Deluxe
DLX
$1.11B
– –
-7,900
Closed -$205K
DNOW icon
553
DNOW Inc
DNOW
$2.95B
– –
-20,050
Closed -$103K
DOC icon
554
Healthpeak Properties
DOC
$14.3B
– –
-6,960
Closed -$166K
DORM icon
555
Dorman Products
DORM
$3.95B
– –
-9,040
Closed -$500K
DOW icon
556
Dow Inc
DOW
$21.9B
– –
-10,511
Closed -$307K
DPZ icon
557
Domino's
DPZ
$11.6B
– –
-7,250
Closed -$2.35M
DRH icon
558
Diamondrock Hospitality Co
DRH
$2.51B
– –
-62,020
Closed -$315K
DRI icon
559
Darden Restaurants
DRI
$25.4B
– –
-1,710
Closed -$93K
DTE icon
560
DTE Energy
DTE
$29B
– –
-3,231
Closed -$261K
DVN icon
561
Devon Energy
DVN
$48.8B
– –
-19,380
Closed -$133K
DXC icon
562
DXC Technology
DXC
$1.79B
– –
-9,848
Closed -$128K
DXPE icon
563
DXP Enterprises
DXPE
$3B
– –
-29,110
Closed -$357K
DY icon
564
Dycom Industries
DY
$12.3B
– –
-5,810
Closed -$149K
EAT icon
565
Brinker International
EAT
$10.2B
– –
-6,880
Closed -$83K
EBAY icon
566
eBay
EBAY
$46.5B
– –
-10,960
Closed -$329K
EBF icon
567
Ennis
EBF
$559M
– –
-32,050
Closed -$602K
EBS icon
568
Emergent Biosolutions
EBS
$230M
– –
-13,590
Closed -$786K
ECL icon
569
Ecolab
ECL
$77.4B
– –
-3,590
Closed -$559K
ECPG icon
570
Encore Capital Group
ECPG
$2.15B
– –
-8,460
Closed -$198K
EFX icon
571
Equifax
EFX
$21.8B
– –
-1,700
Closed -$203K
EGBN icon
572
Eagle Bancorp
EGBN
$877M
– –
-10,570
Closed -$319K
EGHT icon
573
8x8 Inc
EGHT
$303M
– –
-31,050
Closed -$430K
EGP icon
574
EastGroup Properties
EGP
$11B
– –
-7,210
Closed -$753K
EGY icon
575
Vaalco Energy
EGY
$592M
– –
-180,690
Closed -$163K
21 22
23
24 25

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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
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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.