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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
TBI
1201
Trueblue
TBI
$309M
– –
-12,260
Closed -$156K
TCBI icon
1202
Texas Capital Bancshares
TCBI
$4.38B
– –
-9,330
Closed -$207K
TCBK icon
1203
TriCo Bancshares
TCBK
$1.86B
– –
-18,000
Closed -$537K
TCMD icon
1204
Tactile Systems Technology
TCMD
$537M
– –
-5,890
Closed -$237K
TDC icon
1205
Teradata
TDC
$2.57B
– –
-21,160
Closed -$434K
TDG icon
1206
TransDigm Group
TDG
$68.9B
– –
-710
Closed -$227K
TDS icon
1207
Telephone and Data Systems
TDS
$4.03B
– –
-18,350
Closed -$308K
TDY icon
1208
Teledyne Technologies
TDY
$31.2B
– –
-6,840
Closed -$2.03M
TECH icon
1209
Bio-Techne
TECH
$11.2B
– –
-28,600
Closed -$1.36M
TER icon
1210
Teradyne
TER
$64.2B
– –
-31,520
Closed -$1.71M
TEX icon
1211
Terex
TEX
$7.57B
– –
-12,050
Closed -$173K
TFIN icon
1212
Triumph Financial Inc
TFIN
$1.87B
– –
-24,870
Closed -$647K
TG icon
1213
Tredegar Corp
TG
$278M
– –
-56,580
Closed -$884K
TGI
1214
DELISTED
Triumph Group
TGI
– –
-15,520
Closed -$105K
TGNA
1215
DELISTED
TEGNA Inc
TGNA
– –
-40,710
Closed -$442K
THC icon
1216
Tenet Healthcare
THC
$21.5B
– –
-19,500
Closed -$281K
THFF icon
1217
First Financial Corp
THFF
$975M
– –
-11,820
Closed -$399K
THG icon
1218
Hanover Insurance
THG
$7.77B
– –
-7,340
Closed -$665K
THO icon
1219
Thor Industries
THO
$4.11B
– –
-10,360
Closed -$437K
THRM icon
1220
Gentherm
THRM
$1.32B
– –
-10,090
Closed -$317K
THS
1221
DELISTED
Treehouse Foods
THS
– –
-10,420
Closed -$460K
TILE icon
1222
Interface
TILE
$2.24B
– –
-17,880
Closed -$135K
TITN icon
1223
Titan Machinery
TITN
$420M
– –
-57,620
Closed -$501K
TISI icon
1224
Team
TISI
$101M
– –
-927
Closed -$60K
TJX icon
1225
TJX Companies
TJX
$170B
– –
-17,380
Closed -$831K
47 48
49
50 51

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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
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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.