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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
MTX icon
926
Minerals Technologies
MTX
$2.26B
– –
-6,450
Closed -$234K
MTZ icon
927
MasTec
MTZ
$23B
– –
-11,320
Closed -$371K
MUR icon
928
Murphy Oil
MUR
$4.99B
– –
-28,590
Closed -$175K
MUSA icon
929
Murphy USA
MUSA
$10.4B
– –
-5,420
Closed -$457K
MXL icon
930
MaxLinear
MXL
$6.95B
– –
-20,180
Closed -$236K
MYE icon
931
Myers Industries
MYE
$1.25B
– –
-10,860
Closed -$117K
MYGN icon
932
Myriad Genetics
MYGN
$303M
– –
-23,050
Closed -$330K
MYRG icon
933
MYR Group
MYRG
$5.1B
– –
-42,490
Closed -$1.11M
NAII icon
934
Natural Alternatives International
NAII
$13.6M
– –
-27,450
Closed -$173K
NAVI icon
935
Navient
NAVI
$867M
– –
-31,890
Closed -$242K
NBHC icon
936
National Bank Holdings
NBHC
$1.94B
– –
-9,660
Closed -$231K
NBN icon
937
Northeast Bank
NBN
$1.16B
– –
-22,490
Closed -$262K
NBTB icon
938
NBT Bancorp
NBTB
$2.79B
– –
-13,570
Closed -$440K
NCMI icon
939
National CineMedia
NCMI
$252M
– –
-9,393
Closed -$306K
NDAQ icon
940
Nasdaq
NDAQ
$54.6B
– –
-46,530
Closed -$1.47M
NDSN icon
941
Nordson
NDSN
$17.3B
– –
-9,600
Closed -$1.3M
NEOG icon
942
Neogen
NEOG
$2.59B
– –
-32,480
Closed -$1.09M
NEO icon
943
NeoGenomics
NEO
$2.11B
– –
-32,340
Closed -$892K
NEU icon
944
NewMarket
NEU
$8.72B
– –
-1,370
Closed -$525K
NFBK
945
DELISTED
Northfield Bancorp
NFBK
– –
-13,260
Closed -$148K
NFG icon
946
National Fuel Gas
NFG
$7.75B
– –
-16,200
Closed -$604K
NGVT icon
947
Ingevity
NGVT
$2.59B
– –
-7,760
Closed -$273K
NI icon
948
NiSource
NI
$20.2B
– –
-5,290
Closed -$132K
NJR icon
949
New Jersey Resources
NJR
$5.64B
– –
-17,920
Closed -$609K
NKTR icon
950
Nektar Therapeutics
NKTR
$2.57B
– –
-2,201
Closed -$589K
36 37
38
39 40

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SFM
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AI
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PEA
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SUT
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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.