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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
EHC icon
576
Encompass Health
EHC
$12.2B
– –
-23,255
Closed -$1.19M
EHTH icon
577
eHealth
EHTH
$38.8M
– –
-7,690
Closed -$1.08M
EIG icon
578
Employers Holdings
EIG
$871M
– –
-9,770
Closed -$396K
EL icon
579
Estee Lauder
EL
$31.6B
– –
-6,070
Closed -$967K
ELME
580
Elme Communities
ELME
$144M
– –
-24,970
Closed -$596K
EME icon
581
Emcor
EME
$36.7B
– –
-10,540
Closed -$646K
EMR icon
582
Emerson Electric
EMR
$91.6B
– –
-8,720
Closed -$416K
ENOV icon
583
Enovis
ENOV
$1.48B
– –
-9,006
Closed -$307K
ENR icon
584
Energizer
ENR
$1.55B
– –
-12,070
Closed -$365K
ENS icon
585
EnerSys
ENS
$7.2B
– –
-7,880
Closed -$390K
ENTA icon
586
Enanta Pharmaceuticals
ENTA
$391M
– –
-4,880
Closed -$251K
ENSG icon
587
The Ensign Group
ENSG
$10.6B
– –
-15,540
Closed -$584K
ENVA icon
588
Enova International
ENVA
$6.52B
– –
-10,310
Closed -$149K
EPAC icon
589
Enerpac Tool Group
EPAC
$1.89B
– –
-16,740
Closed -$277K
EPC icon
590
Edgewell Personal Care
EPC
$1.31B
– –
-10,170
Closed -$245K
EPM icon
591
Evolution Petroleum
EPM
$135M
– –
-60,440
Closed -$158K
EPR icon
592
EPR Properties
EPR
$4.73B
– –
-14,720
Closed -$357K
EPRT icon
593
Essential Properties Realty Trust
EPRT
$6.71B
– –
-27,240
Closed -$356K
EQBK icon
594
Equity Bancshares
EQBK
$1.07B
– –
-14,350
Closed -$248K
EQIX icon
595
Equinix
EQIX
$106B
– –
-1,226
Closed -$766K
EQT icon
596
EQT Corp
EQT
$33.8B
– –
-47,010
Closed -$332K
ESE icon
597
ESCO Technologies
ESE
$7.79B
– –
-8,050
Closed -$611K
ETD icon
598
Ethan Allen Interiors
ETD
$583M
– –
-7,390
Closed -$76K
ETSY icon
599
Etsy
ETSY
$7.4B
– –
-22,340
Closed -$859K
EVC icon
600
Entravision Communication
EVC
$820M
– –
-150,770
Closed -$306K
22 23
24
25 26

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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.