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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
LAD icon
826
Lithia Motors
LAD
$8.32B
– –
-7,020
Closed -$574K
LAMR icon
827
Lamar Advertising Co
LAMR
$15.8B
– –
-16,140
Closed -$828K
MZTI
828
The Marzetti Company
MZTI
$3.22B
– –
-3,670
Closed -$531K
LAND
829
Gladstone Land Corp
LAND
$358M
– –
-44,880
Closed -$532K
LCII icon
830
LCI Industries
LCII
$2.6B
– –
-7,750
Closed -$518K
LDOS icon
831
Leidos
LDOS
$17.9B
– –
-2,020
Closed -$185K
LEA icon
832
Lear
LEA
$8.16B
– –
-10,330
Closed -$839K
LECO icon
833
Lincoln Electric
LECO
$15.5B
– –
-11,460
Closed -$791K
LFUS icon
834
Littelfuse
LFUS
$11.4B
– –
-4,560
Closed -$608K
LGIH icon
835
LGI Homes
LGIH
$1.37B
– –
-6,810
Closed -$307K
LGND icon
836
Ligand Pharmaceuticals
LGND
$5.76B
– –
-5,178
Closed -$235K
LH icon
837
Labcorp
LH
$26.2B
– –
-1,606
Closed -$174K
LHX icon
838
L3Harris
LHX
$53.7B
– –
-3,167
Closed -$570K
LII icon
839
Lennox International
LII
$14.5B
– –
-6,580
Closed -$1.2M
LITE icon
840
Lumentum
LITE
$78B
– –
-14,490
Closed -$1.07M
LIVN icon
841
LivaNova
LIVN
$4.53B
– –
-9,080
Closed -$411K
LMAT icon
842
LeMaitre Vascular
LMAT
$1.87B
– –
-5,080
Closed -$127K
LNN icon
843
Lindsay Corp
LNN
$1.17B
– –
-3,350
Closed -$307K
LNTH icon
844
Lantheus
LNTH
$6.59B
– –
-12,160
Closed -$155K
LNW
845
DELISTED
Light & Wonder
LNW
– –
-9,910
Closed -$96K
LOCO icon
846
El Pollo Loco
LOCO
$471M
– –
-6,190
Closed -$52K
LOPE icon
847
Grand Canyon Education
LOPE
$3.79B
– –
-9,050
Closed -$690K
LOW icon
848
Lowe's Companies
LOW
$122B
– –
-10,940
Closed -$941K
LPSN icon
849
LivePerson
LPSN
$35.9M
– –
-1,271
Closed -$434K
LPX icon
850
Louisiana-Pacific
LPX
$5.18B
– –
-22,040
Closed -$379K
32 33
34
35 36

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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.