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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
HAL icon
701
Halliburton
HAL
$27.4B
– –
-29,160
Closed -$200K
HAS icon
702
Hasbro
HAS
$13.6B
– –
-1,790
Closed -$128K
HBAN icon
703
Huntington Bancshares
HBAN
$35.9B
– –
-69,770
Closed -$573K
HBI
704
DELISTED
Hanesbrands
HBI
– –
-23,120
Closed -$182K
HBNC icon
705
Horizon Bancorp
HBNC
$1.05B
– –
-20,460
Closed -$202K
HCA icon
706
HCA Healthcare
HCA
$89.1B
– –
-8,380
Closed -$753K
HCC icon
707
Warrior Met Coal
HCC
$4.98B
– –
-15,780
Closed -$168K
HCI icon
708
HCI Group
HCI
$2.32B
– –
-1,960
Closed -$79K
HCSG icon
709
Healthcare Services Group
HCSG
$1.45B
– –
-13,910
Closed -$333K
HE icon
710
Hawaiian Electric Industries
HE
$2.04B
– –
-20,450
Closed -$880K
HES
711
DELISTED
Hess
HES
– –
-8,610
Closed -$287K
HFWA icon
712
Heritage Financial
HFWA
$1.23B
– –
-23,820
Closed -$477K
HI
713
DELISTED
Hillenbrand
HI
– –
-22,960
Closed -$439K
HIW icon
714
Highwoods Properties
HIW
$3.51B
– –
-19,470
Closed -$690K
HLIT icon
715
Harmonic Inc
HLIT
$1.42B
– –
-27,990
Closed -$161K
HLT icon
716
Hilton Worldwide
HLT
$72.2B
– –
-4,060
Closed -$277K
HLX icon
717
Helix Energy Solutions
HLX
$1.49B
– –
-43,790
Closed -$72K
HMN icon
718
Horace Mann Educators
HMN
$2.1B
– –
-12,770
Closed -$467K
MCHB
719
Mechanics Bancorp
MCHB
$3.79B
– –
-7,470
Closed -$166K
HNI icon
720
HNI Corp
HNI
$3.56B
– –
-7,870
Closed -$198K
HNRG icon
721
Hallador Energy
HNRG
$730M
– –
-90,890
Closed -$86K
HOFT icon
722
Hooker Furnishings Corp
HOFT
$158M
– –
-16,310
Closed -$255K
HOG icon
723
Harley-Davidson
HOG
$2.9B
– –
-2,190
Closed -$41K
HOLX
724
DELISTED
Hologic
HOLX
– –
-3,800
Closed -$133K
HOMB icon
725
Home BancShares
HOMB
$6.27B
– –
-28,890
Closed -$346K
27 28
29
30 31

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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.