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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
KALU icon
801
Kaiser Aluminum
KALU
$2.99B
– –
-4,900
Closed -$339K
OPLN
802
Openlane
OPLN
$4.33B
– –
-24,760
Closed -$297K
KBH icon
803
KB Home
KBH
$3.45B
– –
-16,080
Closed -$291K
KBR icon
804
KBR
KBR
$4.81B
– –
-26,590
Closed -$550K
KE
805
Kimball Electronics
KE
$626M
– –
-64,480
Closed -$704K
KELYA icon
806
Kelly Services Class A
KELYA
$566M
– –
-10,150
Closed -$129K
KEX icon
807
Kirby Corp
KEX
$7.26B
– –
-11,250
Closed -$489K
KEY icon
808
KeyCorp
KEY
$24.6B
– –
-63,330
Closed -$657K
KFRC icon
809
Kforce
KFRC
$1.08B
– –
-33,310
Closed -$852K
KFY icon
810
Korn Ferry
KFY
$4.36B
– –
-17,130
Closed -$417K
KLIC icon
811
Kulicke & Soffa
KLIC
$5.01B
– –
-19,640
Closed -$410K
KLXE icon
812
KLX Energy Services
KLXE
$36M
– –
-1,260
Closed -$4K
KMB icon
813
Kimberly-Clark
KMB
$36.8B
– –
-4,880
Closed -$624K
KMPR icon
814
Kemper
KMPR
$1.59B
– –
-11,760
Closed -$875K
KMT icon
815
Kennametal
KMT
$2.32B
– –
-15,550
Closed -$290K
KN icon
816
Knowles
KN
$3.23B
– –
-26,660
Closed -$357K
KNSL icon
817
Kinsale Capital Group
KNSL
$8.59B
– –
-6,380
Closed -$667K
KNX icon
818
Knight Transportation
KNX
$11.9B
– –
-23,060
Closed -$756K
KOP icon
819
Koppers
KOP
$874M
– –
-6,330
Closed -$78K
KRC icon
820
Kilroy Realty
KRC
$4.3B
– –
-18,300
Closed -$1.17M
KREF
821
KKR Real Estate Finance Trust
KREF
$502M
– –
-7,310
Closed -$110K
KRG icon
822
Kite Realty
KRG
$5.31B
– –
-26,020
Closed -$246K
KTB icon
823
Kontoor Brands
KTB
$4.65B
– –
-14,470
Closed -$277K
KWR icon
824
Quaker Houghton
KWR
$2.95B
– –
-4,010
Closed -$506K
L icon
825
Loews
L
$23B
– –
-3,790
Closed -$132K
31 32
33
34 35

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VAS
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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
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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.