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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
ROL icon
1101
Rollins
ROL
$17.4B
– –
-2,963
Closed -$71K
ROST icon
1102
Ross Stores
ROST
$78.6B
– –
-5,180
Closed -$451K
RPM icon
1103
RPM International
RPM
$14.5B
– –
-24,340
Closed -$1.45M
RRC icon
1104
Range Resources
RRC
$9.33B
– –
-63,850
Closed -$146K
RRGB icon
1105
Red Robin
RRGB
$183M
– –
-3,970
Closed -$34K
RRX icon
1106
Regal Rexnord
RRX
$11.4B
– –
-7,780
Closed -$490K
RS icon
1107
Reliance Steel & Aluminium
RS
$21.7B
– –
-12,510
Closed -$1.1M
RTX icon
1108
RTX Corp
RTX
$297B
$0 ﹤0.01%
1
-57,715
-100% -$3.6M
RUN icon
1109
Sunrun
RUN
$2.37B
– –
-24,140
Closed -$244K
RVTY icon
1110
Revvity
RVTY
$13.1B
– –
-12,200
Closed -$918K
RWT
1111
Redwood Trust
RWT
$599M
– –
-34,910
Closed -$177K
RYAM icon
1112
Rayonier Advanced Materials
RYAM
$570M
– –
-109,580
Closed -$116K
RYZ
1113
Ryerson Holding Corp
RYZ
$1.5B
– –
-151,840
Closed -$808K
RYN icon
1114
Rayonier
RYN
$6.54B
– –
-26,509
Closed -$566K
SABR icon
1115
Sabre
SABR
$892M
– –
-51,400
Closed -$305K
SACH
1116
Sachem Capital Corp
SACH
$37.6M
– –
-117,140
Closed -$204K
SAFT icon
1117
Safety Insurance
SAFT
$1.52B
– –
-4,530
Closed -$382K
SAFE
1118
Safehold
SAFE
$1.1B
– –
-4,742
Closed -$245K
SAH icon
1119
Sonic Automotive
SAH
$2.51B
– –
-7,420
Closed -$99K
SAIA icon
1120
Saia
SAIA
$10.1B
– –
-8,030
Closed -$591K
SAIC icon
1121
Saic
SAIC
$5.35B
– –
-9,210
Closed -$687K
SAM icon
1122
Boston Beer
SAM
$1.9B
– –
-1,730
Closed -$636K
SANM icon
1123
Sanmina
SANM
$11.1B
– –
-21,680
Closed -$591K
SBAC icon
1124
SBA Communications
SBAC
$19.8B
– –
-1,590
Closed -$429K
SBCF icon
1125
Seacoast Banking Corp of Florida
SBCF
$3.48B
– –
-15,950
Closed -$292K
43 44
45
46 47

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SFM
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AI
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PEA
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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.