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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
OPI
1001
DELISTED
Office Properties Income Trust
OPI
– –
-14,930
Closed -$407K
OPY icon
1002
Oppenheimer Holdings
OPY
$1.23B
– –
-35,070
Closed -$693K
ORI icon
1003
Old Republic International
ORI
$10.3B
– –
-53,550
Closed -$817K
ORLY icon
1004
O'Reilly Automotive
ORLY
$74.9B
– –
-16,500
Closed -$331K
OSK icon
1005
Oshkosh
OSK
$9.41B
– –
-12,770
Closed -$821K
OSPN icon
1006
OneSpan
OSPN
$624M
– –
-9,900
Closed -$180K
OSIS icon
1007
OSI Systems
OSIS
$3.77B
– –
-5,290
Closed -$365K
OSUR icon
1008
OraSure Technologies
OSUR
$277M
– –
-18,690
Closed -$201K
OXM icon
1009
Oxford Industries
OXM
$542M
– –
-5,280
Closed -$191K
OXY icon
1010
Occidental Petroleum
OXY
$57.7B
– –
-27,830
Closed -$322K
OZK icon
1011
Bank OZK
OZK
$5.7B
– –
-22,690
Closed -$379K
PAHC icon
1012
Phibro Animal Health
PAHC
$1.38B
– –
-6,210
Closed -$150K
PARR icon
1013
Par Pacific Holdings
PARR
$4.12B
– –
-11,240
Closed -$79K
PARA
1014
DELISTED
Paramount Global Class B
PARA
– –
-36,451
Closed -$511K
PATK icon
1015
Patrick Industries
PATK
$2.78B
– –
-10,298
Closed -$193K
PAYC icon
1016
Paycom
PAYC
$10.1B
– –
-700
Closed -$141K
PAYX icon
1017
Paychex
PAYX
$44.6B
– –
-4,540
Closed -$286K
PB icon
1018
Prosperity Bancshares
PB
$8.97B
– –
-17,720
Closed -$855K
PBF icon
1019
PBF Energy
PBF
$8.81B
– –
-18,900
Closed -$134K
PBH icon
1020
Prestige Consumer Healthcare
PBH
$2.43B
– –
-9,430
Closed -$346K
PBI icon
1021
Pitney Bowes
PBI
$2.28B
– –
-52,300
Closed -$107K
PCAR icon
1022
PACCAR
PCAR
$68.8B
– –
-30,105
Closed -$1.23M
PCH
1023
DELISTED
PotlatchDeltic
PCH
– –
-12,464
Closed -$391K
PCRX icon
1024
Pacira BioSciences
PCRX
$924M
– –
-12,930
Closed -$434K
PDEX icon
1025
Pro-Dex
PDEX
$217M
– –
-30,000
Closed -$485K
39 40
41
42 43

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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
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.