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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
NMIH icon
951
NMI Holdings
NMIH
$3.42B
– –
-21,060
Closed -$245K
NNN icon
952
NNN REIT
NNN
$8.87B
– –
-32,210
Closed -$1.04M
NOC icon
953
Northrop Grumman
NOC
$81.6B
– –
-2,230
Closed -$675K
NOV icon
954
NOV
NOV
$7.36B
– –
-5,310
Closed -$52K
NOW icon
955
ServiceNow
NOW
$132B
– –
-13,500
Closed -$774K
NPO icon
956
Enpro
NPO
$7.12B
– –
-6,440
Closed -$255K
NPK icon
957
National Presto Industries
NPK
$987M
– –
-1,540
Closed -$109K
NRG icon
958
NRG Energy
NRG
$25.2B
– –
-23,880
Closed -$651K
NSA
959
DELISTED
National Storage Affiliates Trust
NSA
– –
-18,380
Closed -$544K
NSC icon
960
Norfolk Southern
NSC
$75.9B
– –
-3,730
Closed -$545K
NSIT icon
961
Insight Enterprises
NSIT
$4.6B
– –
-11,090
Closed -$467K
NSP icon
962
Insperity
NSP
$2.05B
– –
-7,180
Closed -$268K
NTAP icon
963
NetApp
NTAP
$40.2B
– –
-3,390
Closed -$141K
NTCT icon
964
NETSCOUT
NTCT
$2.89B
– –
-12,250
Closed -$290K
NTGR icon
965
NETGEAR
NTGR
$647M
– –
-9,520
Closed -$217K
NTRS icon
966
Northern Trust
NTRS
$34.8B
– –
-15,100
Closed -$1.14M
NTWK icon
967
NetSol Technologies
NTWK
$49.3M
– –
-64,310
Closed -$161K
NUS icon
968
Nu Skin
NUS
$236M
– –
-10,420
Closed -$228K
NVR icon
969
NVR
NVR
$17B
– –
-50
Closed -$128K
NVRI icon
970
Enviri
NVRI
$564M
– –
-24,570
Closed -$171K
NWE icon
971
NorthWestern Energy
NWE
$4.4B
– –
-9,470
Closed -$567K
NWBI icon
972
Northwest Bancshares
NWBI
$2.31B
– –
-31,060
Closed -$359K
NWL icon
973
Newell Brands
NWL
$2.63B
– –
-5,770
Closed -$77K
NWN icon
974
Northwest Natural Holdings
NWN
$2.14B
– –
-9,430
Closed -$582K
NWS icon
975
News Corp Class B
NWS
$17.8B
– –
-1,660
Closed -$15K
37 38
39
40 41

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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
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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.