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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
LQDT icon
851
Liquidity Services
LQDT
$1.35B
– –
-8,070
Closed -$31K
LRCX icon
852
Lam Research
LRCX
$422B
– –
-21,000
Closed -$504K
LRN icon
853
Stride
LRN
$3.48B
– –
-15,740
Closed -$297K
LSTR icon
854
Landstar System
LSTR
$6.4B
– –
-7,350
Closed -$705K
LTC
855
LTC Properties
LTC
$2.1B
– –
-12,310
Closed -$380K
LUV icon
856
Southwest Airlines
LUV
$22B
– –
-18,320
Closed -$652K
LVS icon
857
Las Vegas Sands
LVS
$29.6B
– –
-4,800
Closed -$204K
LW icon
858
Lamb Weston
LW
$7.39B
– –
-2,030
Closed -$116K
LXP icon
859
LXP Industrial Trust
LXP
$3.58B
– –
-15,358
Closed -$763K
LXU icon
860
LSB Industries
LXU
$711M
– –
-8,619
Closed -$14K
LYV icon
861
Live Nation Entertainment
LYV
$43.3B
– –
-2,020
Closed -$92K
LZB icon
862
La-Z-Boy
LZB
$1.67B
– –
-14,270
Closed -$293K
M icon
863
Macy's
M
$6.27B
– –
-20,150
Closed -$99K
MAA icon
864
Mid-America Apartment Communities
MAA
$15.6B
– –
-1,620
Closed -$167K
MAC icon
865
Macerich
MAC
$6.99B
– –
-20,680
Closed -$116K
MAN icon
866
ManpowerGroup
MAN
$2.75B
– –
-11,100
Closed -$588K
MANH icon
867
Manhattan Associates
MANH
$11.7B
– –
-11,930
Closed -$594K
MAR icon
868
Marriott International
MAR
$91.9B
– –
-3,904
Closed -$292K
MASI
869
DELISTED
Masimo
MASI
– –
-9,210
Closed -$1.63M
MAT icon
870
Mattel
MAT
$4.25B
– –
-65,070
Closed -$573K
MATV icon
871
Mativ Holdings
MATV
$667M
– –
-9,460
Closed -$263K
MATW icon
872
Matthews International
MATW
$722M
– –
-9,640
Closed -$233K
MATX icon
873
Matsons
MATX
$6.39B
– –
-13,280
Closed -$407K
MBUU icon
874
Malibu Boats
MBUU
$573M
– –
-8,690
Closed -$250K
MCHP icon
875
Microchip Technology
MCHP
$42.2B
– –
-6,860
Closed -$233K
33 34
35
36 37

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VAS
Vestmark Advisory Solutions Wakefield, Massachusetts $9.02B AUM 20.58% 1-Year Est. Return
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
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.