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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
MCK icon
876
McKesson
MCK
$99.9B
– –
-2,670
Closed -$361K
MCO icon
877
Moody's
MCO
$84.6B
– –
-2,320
Closed -$491K
MCRI icon
878
Monarch Casino & Resort
MCRI
$2.2B
– –
-3,650
Closed -$102K
MCS icon
879
Marcus Corp
MCS
$929M
– –
-7,030
Closed -$87K
MCY icon
880
Mercury Insurance
MCY
$5.81B
– –
-5,010
Closed -$204K
MD icon
881
Pediatrix Medical
MD
$2.14B
– –
-15,820
Closed -$184K
MDU icon
882
MDU Resources
MDU
$4.27B
– –
-98,910
Closed -$809K
MED icon
883
Medifast
MED
$128M
– –
-3,620
Closed -$226K
MEDP icon
884
Medpace
MEDP
$16.2B
– –
-8,480
Closed -$622K
MEI icon
885
Methode Electronics
MEI
$593M
– –
-11,490
Closed -$304K
MERC icon
886
Mercer International
MERC
$33.8M
– –
-12,250
Closed -$89K
MGPI icon
887
MGP Ingredients
MGPI
$389M
– –
-4,030
Closed -$108K
MHO icon
888
M/I Homes
MHO
$3.9B
– –
-46,910
Closed -$775K
MKC icon
889
McCormick & Company Non-Voting
MKC
$14.6B
– –
-3,500
Closed -$247K
MKSI icon
890
MKS Inc
MKSI
$20.7B
– –
-10,230
Closed -$833K
MKTX icon
891
MarketAxess Holdings
MKTX
$5.72B
– –
-530
Closed -$176K
MLAB icon
892
Mesa Laboratories
MLAB
$633M
– –
-1,230
Closed -$278K
MLI icon
893
Mueller Industries
MLI
$14.7B
– –
-70,560
Closed -$422K
MLKN icon
894
MillerKnoll
MLKN
$1.62B
– –
-10,950
Closed -$247K
MLR icon
895
Miller Industries
MLR
$640M
– –
-25,610
Closed -$724K
MRSH
896
Marsh
MRSH
$90B
– –
-7,180
Closed -$621K
MMI icon
897
Marcus & Millichap
MMI
$1.2B
– –
-7,180
Closed -$195K
MMS icon
898
Maximus
MMS
$2.94B
– –
-12,010
Closed -$699K
MMSI icon
899
Merit Medical Systems
MMSI
$5.4B
– –
-17,100
Closed -$534K
MNDO icon
900
Mind CTI
MNDO
$20.6M
– –
-191,480
Closed -$333K
34 35
36
37 38

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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
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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.