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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
FFBC icon
626
First Financial Bancorp
FFBC
$3.6B
– –
-30,790
Closed -$459K
FFIC
627
DELISTED
Flushing Financial
FFIC
– –
-22,140
Closed -$296K
FFIN icon
628
First Financial Bankshares
FFIN
$5.04B
– –
-25,490
Closed -$684K
FFIV icon
629
F5
FFIV
$23.6B
– –
-850
Closed -$91K
FFWM
630
DELISTED
First Foundation Inc
FFWM
– –
-27,800
Closed -$284K
FHI icon
631
Federated Hermes
FHI
$4.74B
– –
-18,030
Closed -$343K
FHN icon
632
First Horizon
FHN
$12.3B
– –
-58,400
Closed -$471K
FICO icon
633
Fair Isaac
FICO
$24B
– –
-5,440
Closed -$1.67M
FIVE icon
634
Five Below
FIVE
$13.4B
– –
-10,450
Closed -$735K
FIX icon
635
Comfort Systems
FIX
$60.8B
– –
-11,280
Closed -$412K
FIZZ icon
636
National Beverage
FIZZ
$2.93B
– –
-7,140
Closed -$152K
FL
637
DELISTED
Foot Locker
FL
– –
-20,350
Closed -$449K
FLO icon
638
Flowers Foods
FLO
$1.6B
– –
-36,120
Closed -$741K
FLR icon
639
Fluor
FLR
$7B
– –
-26,310
Closed -$182K
FLWS icon
640
1-800-Flowers.com
FLWS
$261M
– –
-31,470
Closed -$416K
FMC icon
641
FMC
FMC
$1.27B
– –
-1,870
Closed -$153K
FMNB icon
642
Farmers National Banc Corp
FMNB
$970M
– –
-30,630
Closed -$356K
FNB icon
643
FNB Corp
FNB
$6.88B
– –
-60,980
Closed -$449K
FNKO icon
644
Funko
FNKO
$335M
– –
-24,590
Closed -$98K
FONR
645
DELISTED
Fonar
FONR
– –
-23,860
Closed -$349K
FORM icon
646
FormFactor
FORM
$10.3B
– –
-65,380
Closed -$1.31M
FOSL icon
647
Fossil Group
FOSL
$330M
– –
-14,080
Closed -$46K
FORR icon
648
Forrester Research
FORR
$224M
– –
-3,210
Closed -$94K
FOXF icon
649
Fox Factory Holding Corp
FOXF
$886M
– –
-11,930
Closed -$501K
FR icon
650
First Industrial Realty Trust
FR
$8.4B
– –
-23,820
Closed -$792K
24 25
26
27 28

Similar funds

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.