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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
IRBT
776
DELISTED
iRobot
IRBT
– –
-8,760
Closed -$358K
IRDM icon
777
Iridium Communications
IRDM
$5.27B
– –
-30,050
Closed -$671K
IRM icon
778
Iron Mountain
IRM
$37.7B
– –
-3,970
Closed -$94K
IRMD icon
779
iRadimed
IRMD
$1.11B
– –
-21,210
Closed -$453K
IRT icon
780
Independence Realty Trust
IRT
$4.01B
– –
-28,160
Closed -$252K
ISRG icon
781
Intuitive Surgical
ISRG
$142B
– –
-4,980
Closed -$822K
ITGR icon
782
Integer Holdings
ITGR
$4.25B
– –
-10,120
Closed -$636K
ITT icon
783
ITT
ITT
$19.4B
– –
-16,460
Closed -$747K
ITRI icon
784
Itron
ITRI
$4.5B
– –
-10,910
Closed -$609K
IVR icon
785
Invesco Mortgage Capital
IVR
$805M
– –
-4,982
Closed -$170K
IWM icon
786
iShares Russell 2000 ETF
IWM
$82.4B
– –
-26,140
Closed -$2.99M
J icon
787
Jacobs Solutions
J
$16.8B
– –
-2,321
Closed -$152K
JACK icon
788
Jack in the Box
JACK
$358M
– –
-4,440
Closed -$156K
JBGS
789
JBG SMITH
JBGS
$692M
– –
-22,150
Closed -$705K
JBLU icon
790
JetBlue
JBLU
$2.19B
– –
-54,950
Closed -$492K
JBL icon
791
Jabil
JBL
$38.8B
– –
-26,070
Closed -$641K
JBSS icon
792
John B. Sanfilippo & Son
JBSS
$1.01B
– –
-15,770
Closed -$1.41M
JEF icon
793
Jefferies Financial Group
JEF
$12.9B
– –
-46,903
Closed -$613K
JJSF icon
794
J&J Snack Foods
JJSF
$1.7B
– –
-4,630
Closed -$560K
JKHY icon
795
Jack Henry & Associates
JKHY
$11.1B
– –
-1,070
Closed -$166K
JLL icon
796
Jones Lang LaSalle
JLL
$17B
– –
-9,670
Closed -$976K
JNK icon
797
State Street SPDR Bloomberg High Yield Bond ETF
JNK
$7.33B
– –
-1,713,815
Closed -$162M
JOE icon
798
St. Joe Company
JOE
$3.89B
– –
-9,760
Closed -$164K
JOUT icon
799
Johnson Outdoors
JOUT
$512M
– –
-6,980
Closed -$438K
KAI icon
800
Kadant
KAI
$3.91B
– –
-7,860
Closed -$587K
30 31
32
33 34

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SFM
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AI
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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.