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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
IBP icon
751
Installed Building Products
IBP
$6.54B
– –
-6,600
Closed -$263K
IDA icon
752
Idacorp
IDA
$8.16B
– –
-9,460
Closed -$830K
ICUI icon
753
ICU Medical
ICUI
$4.58B
– –
-3,610
Closed -$728K
IDCC icon
754
InterDigital
IDCC
$8.88B
– –
-5,840
Closed -$261K
IDXX icon
755
Idexx Laboratories
IDXX
$44.7B
– –
-1,210
Closed -$293K
IEMG icon
756
iShares Core MSCI Emerging Markets ETF
IEMG
$159B
– –
-4,098,862
Closed -$166M
IEX icon
757
IDEX
IEX
$17.6B
– –
-1,060
Closed -$146K
IIIN icon
758
Insteel Industries
IIIN
$634M
– –
-5,600
Closed -$74K
IIPR icon
759
Innovative Industrial Properties
IIPR
$1.67B
– –
-5,260
Closed -$399K
ILPT
760
Industrial Logistics Properties Trust
ILPT
$611M
– –
-20,190
Closed -$354K
ILMN icon
761
Illumina
ILMN
$29.1B
– –
-2,169
Closed -$576K
IMKTA icon
762
Ingles Markets
IMKTA
$1.68B
– –
-64,110
Closed -$2.32M
INCY icon
763
Incyte
INCY
$24.4B
– –
-2,530
Closed -$185K
INDB icon
764
Independent Bank
INDB
$4.05B
– –
-10,650
Closed -$686K
INGN icon
765
Inogen
INGN
$154M
– –
-5,570
Closed -$288K
INGR icon
766
Ingredion
INGR
$6.63B
– –
-12,530
Closed -$946K
INN
767
Summit Hotel Properties
INN
$656M
– –
-32,580
Closed -$137K
INTU icon
768
Intuit
INTU
$98B
– –
-3,730
Closed -$858K
INVA icon
769
Innoviva
INVA
$1.5B
– –
-20,460
Closed -$241K
IOSP icon
770
Innospec
IOSP
$2.31B
– –
-7,590
Closed -$527K
IPAR icon
771
Interparfums
IPAR
$3.7B
– –
-5,460
Closed -$253K
IPGP icon
772
IPG Photonics
IPGP
$3.57B
– –
-480
Closed -$53K
IPI icon
773
Intrepid Potash
IPI
$484M
– –
-15,082
Closed -$121K
IQV icon
774
IQVIA
IQV
$39.8B
– –
-2,580
Closed -$278K
IR icon
775
Ingersoll Rand
IR
$32.7B
– –
-3,026
Closed -$75K
29 30
31
32 33

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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
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
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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.