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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
RDNT icon
1076
RadNet
RDNT
$6.08B
– –
-12,930
Closed -$136K
RDUS
1077
DELISTED
Radius Recycling
RDUS
– –
-56,500
Closed -$737K
REG icon
1078
Regency Centers
REG
$14.1B
– –
-2,350
Closed -$90K
REGN icon
1079
Regeneron Pharmaceuticals
REGN
$83B
– –
-3,100
Closed -$1.51M
REI icon
1080
Ring Energy
REI
$349M
– –
-17,470
Closed -$12K
RES icon
1081
RPC Inc
RES
$1.39B
– –
-15,450
Closed -$32K
REX icon
1082
REX American Resources
REX
$1.44B
– –
-55,680
Closed -$432K
REZI icon
1083
Resideo Technologies
REZI
$3.1B
– –
-22,530
Closed -$109K
RFIL icon
1084
RF Industries
RFIL
$144M
– –
-61,800
Closed -$245K
RGEN icon
1085
Repligen
RGEN
$9.45B
– –
-8,790
Closed -$849K
RGA icon
1086
Reinsurance Group of America
RGA
$16.4B
– –
-11,750
Closed -$989K
RGLD icon
1087
Royal Gold
RGLD
$19.1B
– –
-12,310
Closed -$1.08M
RGNX icon
1088
Regenxbio
RGNX
$704M
– –
-9,710
Closed -$314K
RGP icon
1089
Resources Connection
RGP
$145M
– –
-56,900
Closed -$624K
RGR icon
1090
Sturm, Ruger & Co
RGR
$601M
– –
-5,080
Closed -$259K
RGS icon
1091
Regis Corp
RGS
$70.1M
– –
-375
Closed -$44K
RH icon
1092
RH
RH
$3.4B
– –
-3,070
Closed -$308K
RHI icon
1093
Robert Half
RHI
$4.48B
– –
-14,480
Closed -$687K
RLI icon
1094
RLI Corp
RLI
$5.87B
– –
-14,980
Closed -$659K
RMAX icon
1095
RE/MAX Holdings
RMAX
$265M
– –
-5,460
Closed -$120K
RM icon
1096
Regional Management Corp
RM
$301M
– –
-19,780
Closed -$270K
RMBS icon
1097
Rambus
RMBS
$10.8B
– –
-34,540
Closed -$383K
ROCK icon
1098
Gibraltar Industries
ROCK
$1.45B
– –
-10,000
Closed -$429K
ROG icon
1099
Rogers Corp
ROG
$2.46B
– –
-5,750
Closed -$543K
ROK icon
1100
Rockwell Automation
ROK
$49.5B
– –
-6,200
Closed -$936K
42 43
44
45 46

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VAS
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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.