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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
SBH icon
1126
Sally Beauty Holdings
SBH
$1.55B
– –
-22,180
Closed -$179K
SBRA icon
1127
Sabra Healthcare REIT
SBRA
$5.15B
– –
-38,480
Closed -$420K
SBSI icon
1128
Southside Bancshares
SBSI
$984M
– –
-9,837
Closed -$299K
SBUX icon
1129
Starbucks
SBUX
$124B
– –
-17,000
Closed -$1.12M
SCHL icon
1130
Scholastic
SCHL
$784M
– –
-9,440
Closed -$241K
SCHW
1131
Charles Schwab
SCHW
$190B
– –
-31,090
Closed -$1.04M
SCI icon
1132
Service Corp International
SCI
$11.3B
– –
-34,300
Closed -$1.34M
SCL icon
1133
Stepan Co
SCL
$1.48B
– –
-6,200
Closed -$548K
SCSC icon
1134
Scansource
SCSC
$1.06B
– –
-7,720
Closed -$165K
SHOE
1135
Shoe Station Group
SHOE
$415M
– –
-45,240
Closed -$470K
SEDG icon
1136
SolarEdge
SEDG
$1.98B
– –
-9,120
Closed -$747K
SEE
1137
DELISTED
Sealed Air
SEE
– –
-2,110
Closed -$52K
SEIC icon
1138
SEI Investments
SEIC
$12.8B
– –
-23,690
Closed -$1.1M
SEM
1139
DELISTED
Select Medical
SEM
– –
-61,619
Closed -$498K
SENEA icon
1140
Seneca Foods Class A
SENEA
$1.31B
– –
-2,080
Closed -$83K
SF
1141
Stifel
SF
$12.9B
– –
-29,048
Closed -$533K
SFBS
1142
ServisFirst Bancshares
SFBS
$5B
– –
-14,280
Closed -$419K
SFM icon
1143
Sprouts Farmers Market
SFM
$7.71B
– –
-21,730
Closed -$404K
SFNC icon
1144
Simmons First National
SFNC
$3.46B
– –
-35,310
Closed -$650K
SHAK icon
1145
Shake Shack
SHAK
$2.98B
– –
-9,620
Closed -$363K
SHEN icon
1146
Shenandoah Telecom
SHEN
$744M
– –
-14,520
Closed -$715K
SHOO icon
1147
Steven Madden
SHOO
$3.46B
– –
-23,890
Closed -$555K
SIGI icon
1148
Selective Insurance
SIGI
$5.59B
– –
-11,150
Closed -$554K
SKT icon
1149
Tanger
SKT
$4.42B
– –
-28,780
Closed -$144K
SKX
1150
DELISTED
Skechers
SKX
– –
-25,130
Closed -$597K
44 45
46
47 48

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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.