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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
VRSN icon
76
VeriSign
VRSN
$25.6B
$1.54M 0.04%
7,470
+6,010
+412% +$1.25M
APD icon
77
Air Products & Chemicals
APD
$67.7B
$1.52M 0.04%
6,300
-3,290
-34% -$751K
GLW icon
78
Corning
GLW
$144B
$1.51M 0.04%
58,240
+18,730
+47% +$425K
DOV icon
79
Dover
DOV
$28B
$1.46M 0.04%
15,130
+13,070
+634% +$1.21M
FIS icon
80
Fidelity National Information Services
FIS
$21.6B
$1.46M 0.04%
10,860
-7,530
-41% -$989K
HSIC icon
81
Henry Schein
HSIC
$10.1B
$1.43M 0.04%
24,440
+17,070
+232% +$954K
WM icon
82
Waste Management
WM
$90.5B
$1.4M 0.03%
13,190
-8,290
-39% -$837K
BNY
83
Bank of New York Mellon
BNY
$111B
$1.39M 0.03%
36,030
+330
+0.9% +$12.1K
DUK icon
84
Duke Energy
DUK
$96.3B
$1.37M 0.03%
17,160
-15,540
-48% -$1.31M
GL icon
85
Globe Life
GL
$13.8B
$1.33M 0.03%
17,890
+16,460
+1,151% +$1.25M
XRAY icon
86
Dentsply Sirona
XRAY
$2.27B
$1.31M 0.03%
29,640
+15,670
+112% +$663K
CTAS icon
87
Cintas
CTAS
$81.4B
$1.3M 0.03%
19,520
+14,760
+310% +$854K
TROW icon
88
T. Rowe Price
TROW
$23.8B
$1.29M 0.03%
10,410
-6,070
-37% -$692K
ZTS icon
89
Zoetis
ZTS
$30.4B
$1.28M 0.03%
9,340
+2,510
+37% +$328K
LNT icon
90
Alliant Energy
LNT
$18.2B
$1.27M 0.03%
26,620
+23,250
+690% +$1.13M
JNPR
91
DELISTED
Juniper Networks
JNPR
$1.27M 0.03%
55,440
+16,750
+43% +$385K
BXP icon
92
Boston Properties
BXP
$10.8B
$1.24M 0.03%
13,720
+11,550
+532% +$1.05M
MMM icon
93
3M
MMM
$94.8B
$1.21M 0.03%
9,269
-6,626
-42% -$835K
NUE icon
94
Nucor
NUE
$61.7B
$1.2M 0.03%
28,890
+5,560
+24% +$225K
MAS icon
95
Masco
MAS
$14.7B
$1.18M 0.03%
23,460
+19,350
+471% +$839K
MXIM
96
DELISTED
Maxim Integrated Products
MXIM
$1.18M 0.03%
19,410
+2,160
+13% +$120K
COR icon
97
Cencora
COR
$60B
$1.14M 0.03%
11,330
+9,170
+425% +$845K
SNA icon
98
Snap-on
SNA
$21.1B
$1.13M 0.03%
8,180
+1,280
+19% +$163K
FISV
99
Fiserv Inc
FISV
$27.4B
$1.13M 0.03%
11,550
+3,360
+41% +$338K
ICE icon
100
Intercontinental Exchange
ICE
$85B
$1.1M 0.03%
12,010
+4,050
+51% +$371K
2 3
4
5 6

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SFM
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AI
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HI
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PEA
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SUT
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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.