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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
NWSA icon
976
News Corp Class A
NWSA
$15.6B
– –
-60,550
Closed -$543K
NX icon
977
Quanex
NX
$981M
– –
-58,270
Closed -$587K
NXRT
978
NexPoint Residential Trust
NXRT
$636M
– –
-6,980
Closed -$176K
ADAM
979
Adamas Trust
ADAM
$907M
– –
-28,208
Closed -$175K
NYT icon
980
New York Times
NYT
$10.3B
– –
-26,980
Closed -$829K
OC icon
981
Owens Corning
OC
$12.3B
– –
-20,420
Closed -$793K
ODFL icon
982
Old Dominion Freight Line
ODFL
$44.7B
– –
-2,730
Closed -$179K
ODP
983
DELISTED
ODP
ODP
– –
-16,930
Closed -$278K
OFG icon
984
OFG Bancorp
OFG
$2.26B
– –
-48,310
Closed -$540K
OFIX icon
985
Orthofix Medical
OFIX
$415M
– –
-5,820
Closed -$163K
OGE icon
986
OGE Energy
OGE
$9.71B
– –
-37,570
Closed -$1.16M
OHI icon
987
Omega Healthcare
OHI
$13.9B
– –
-41,010
Closed -$1.09M
OI icon
988
O-I Glass
OI
$1.05B
– –
-29,210
Closed -$208K
OGS icon
989
ONE Gas
OGS
$5.09B
– –
-9,900
Closed -$828K
OII icon
990
Oceaneering
OII
$5.11B
– –
-30,650
Closed -$90K
OIS icon
991
Oil States International
OIS
$526M
– –
-18,520
Closed -$38K
OKE icon
992
Oneok
OKE
$58.4B
– –
-5,870
Closed -$128K
OLED icon
993
Universal Display
OLED
$4.18B
– –
-7,960
Closed -$1.05M
OLLI icon
994
Ollie's Bargain Outlet
OLLI
$4.7B
– –
-10,140
Closed -$470K
OLN icon
995
Olin
OLN
$2.17B
– –
-30,480
Closed -$356K
OMC icon
996
Omnicom Group
OMC
$24.2B
– –
-3,100
Closed -$170K
OMCL icon
997
Omnicell
OMCL
$1.72B
– –
-12,990
Closed -$852K
ACH
998
Accendra Health
ACH
$84.6M
– –
-19,270
Closed -$176K
ONB icon
999
Old National Bancorp
ONB
$10.4B
– –
-52,710
Closed -$695K
ONTO icon
1000
Onto Innovation
ONTO
$20.6B
– –
-15,199
Closed -$451K
38 39
40
41 42

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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.