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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
(+27%)
Cap. Flow
+$496M
Cap. Flow
% of AUM
12.39%
Top 10 Holdings %
Top 10 Hldgs %
89.37%
Holding
1,603
New
5
Increased
101
Reduced
141
Closed
1,353
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR Portfolio Short Term Treasury ETF
SPTS
|
+$529M |
| 2 |
State Street SPDR Portfolio Intermediate Term Treasury ETF
SPTI
|
+$437M |
| 3 |
iShares Core S&P Mid-Cap ETF
IJH
|
+$385M |
| 4 |
iShares Core S&P 500 ETF
IVV
|
+$349M |
| 5 |
iShares JPMorgan USD Emerging Markets Bond ETF
EMB
|
+$159M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
|
+$341M |
| 2 |
iShares Core MSCI Emerging Markets ETF
IEMG
|
+$166M |
| 3 |
iShares Core MSCI Europe ETF
IEUR
|
+$165M |
| 4 |
State Street SPDR Bloomberg High Yield Bond ETF
JNK
|
+$162M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
1051
Power Integrations
POWI
$3.48B
| – | – |
-18,220
| Closed | -$805K |
|
1052
Powell Industries
POWL
$7.43B
| – | – |
-8,070
| Closed | -$69K |
|
|
PPBI
1053
DELISTED
Pacific Premier Bancorp
PPBI
| – | – |
-18,470
| Closed | -$348K |
|
1054
Pilgrim's Pride
PPC
$6.57B
| – | – |
-9,600
| Closed | -$174K |
|
1055
PPG Industries
PPG
$25.5B
| – | – |
-3,360
| Closed | -$281K |
|
|
PRA
1056
DELISTED
ProAssurance
PRA
| – | – |
-16,660
| Closed | -$417K |
|
1057
PRA Group
PRAA
$762M
| – | – |
-14,070
| Closed | -$390K |
|
1058
Perdoceo Education
PRDO
$1.99B
| – | – |
-42,150
| Closed | -$455K |
|
1059
Progress Software
PRGS
$1.83B
| – | – |
-13,870
| Closed | -$444K |
|
1060
Primerica
PRI
$9.62B
| – | – |
-7,770
| Closed | -$687K |
|
1061
Protolabs
PRLB
$2.21B
| – | – |
-8,290
| Closed | -$631K |
|
1062
Public Storage
PSA
$61.4B
| – | – |
-2,130
| Closed | -$423K |
|
1063
Pricesmart
PSMT
$5.55B
| – | – |
-6,910
| Closed | -$363K |
|
1064
Phillips 66
PSX
$92.8B
| – | – |
-16,270
| Closed | -$873K |
|
1065
PTC
PTC
$16.7B
| – | – |
-19,510
| Closed | -$1.19M |
|
1066
Patterson-UTI
PTEN
$4.16B
| – | – |
-37,580
| Closed | -$88K |
|
1067
ProPetro Holding
PUMP
$1.42B
| – | – |
-25,200
| Closed | -$63K |
|
1068
Papa John's
PZZA
$804M
| – | – |
-4,140
| Closed | -$221K |
|
1069
Qualys
QLYS
$6.78B
| – | – |
-10,330
| Closed | -$899K |
|
1070
QuinStreet
QNST
$1.19B
| – | – |
-14,040
| Closed | -$113K |
|
1071
Ryder
R
$10.1B
| – | – |
-9,890
| Closed | -$261K |
|
1072
LiveRamp
RAMP
$2.31B
| – | – |
-12,550
| Closed | -$413K |
|
|
RC
1073
Ready Capital
RC
$294M
| – | – |
-10,920
| Closed | -$79K |
|
1074
Rocky Brands
RCKY
$353M
| – | – |
-18,520
| Closed | -$358K |
|
1075
Reading International Class A
RDI
$33.2M
| – | – |
-32,210
| Closed | -$125K |
|
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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.