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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
SRDX
1176
DELISTED
Surmodics
SRDX
– –
-4,130
Closed -$138K
SSD icon
1177
Simpson Manufacturing
SSD
$8B
– –
-12,500
Closed -$775K
SSP icon
1178
E.W. Scripps
SSP
$310M
– –
-16,670
Closed -$126K
SSTK icon
1179
Shutterstock
SSTK
$217M
– –
-5,930
Closed -$191K
STBA icon
1180
S&T Bancorp
STBA
$1.82B
– –
-11,940
Closed -$326K
STC icon
1181
Stewart Information Services
STC
$2.07B
– –
-7,260
Closed -$194K
STLD icon
1182
Steel Dynamics
STLD
$37.3B
– –
-40,740
Closed -$918K
STRA icon
1183
Strategic Education
STRA
$1.86B
– –
-6,808
Closed -$951K
STRL icon
1184
Sterling Infrastructure
STRL
$16.9B
– –
-78,930
Closed -$750K
STZ icon
1185
Constellation Brands
STZ
$23.3B
– –
-2,380
Closed -$341K
SUPN icon
1186
Supernus Pharmaceuticals
SUPN
$2.74B
– –
-16,250
Closed -$292K
SVC
1187
Service Properties Trust
SVC
$1.06B
– –
-6,176
Closed -$167K
SWK icon
1188
Stanley Black & Decker
SWK
$15.4B
– –
-2,180
Closed -$218K
SWBI icon
1189
Smith & Wesson
SWBI
$643M
– –
-67,535
Closed -$431K
SWKS icon
1190
Skyworks Solutions
SWKS
$10.5B
– –
-2,440
Closed -$218K
SWX icon
1191
Southwest Gas
SWX
$6.67B
– –
-10,250
Closed -$713K
SXC icon
1192
SunCoke Energy
SXC
$788M
– –
-128,460
Closed -$494K
SXI icon
1193
Standex International
SXI
$3.97B
– –
-3,810
Closed -$187K
SXT icon
1194
Sensient Technologies
SXT
$5.53B
– –
-7,940
Closed -$345K
SYK icon
1195
Stryker
SYK
$131B
– –
-4,610
Closed -$768K
SYNA icon
1196
Synaptics
SYNA
$4.2B
– –
-6,280
Closed -$363K
SYY icon
1197
Sysco
SYY
$40B
– –
-20,750
Closed -$947K
TALO icon
1198
Talos Energy
TALO
$2.58B
– –
-6,080
Closed -$35K
TAP icon
1199
Molson Coors Class B
TAP
$7.85B
– –
-11,500
Closed -$448K
TBBK icon
1200
The Bancorp
TBBK
$2.82B
– –
-69,950
Closed -$425K
46 47
48
49 50

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SFM
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AI
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PEA
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SUT
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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.