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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
QCOM icon
101
Qualcomm
QCOM
$171B
$1.09M 0.03%
12,010
-7,930
-40% -$636K
ZION icon
102
Zions Bancorporation
ZION
$10.5B
$1.09M 0.03%
32,170
+12,400
+63% +$393K
CVS icon
103
CVS Health
CVS
$121B
$1.09M 0.03%
16,820
-11,913
-41% -$750K
AMP icon
104
Ameriprise Financial
AMP
$49.9B
$1.07M 0.03%
7,140
-90
-1% -$11.5K
COO icon
105
Cooper Companies
COO
$15B
$1.07M 0.03%
15,040
+12,200
+430% +$904K
TRV icon
106
Travelers Companies
TRV
$77.2B
$1.05M 0.03%
9,200
-4,820
-34% -$508K
PGR icon
107
Progressive
PGR
$121B
$1.04M 0.03%
13,050
+4,670
+56% +$365K
EVRG icon
108
Evergy
EVRG
$19.2B
$1.04M 0.03%
17,610
-11,020
-38% -$653K
UPS icon
109
United Parcel Service
UPS
$88.4B
$1.03M 0.03%
9,310
-730
-7% -$72.9K
MTB icon
110
M&T Bank
MTB
$36.6B
$1.03M 0.03%
9,880
+1,500
+18% +$158K
JBHT icon
111
JB Hunt Transport Services
JBHT
$25.9B
$1.02M 0.03%
8,510
+7,310
+609% +$787K
LMT icon
112
Lockheed Martin
LMT
$140B
$1.02M 0.03%
2,790
-770
-22% -$291K
D icon
113
Dominion Energy
D
$59.8B
$1.02M 0.03%
12,510
-13,318
-52% -$1.07M
PNC icon
114
PNC Financial Services
PNC
$102B
$1.01M 0.03%
9,570
-6,560
-41% -$691K
GWW icon
115
W.W. Grainger
GWW
$61.5B
$996K 0.02%
3,170
+210
+7% +$60.7K
PPL
116
PPL Corp
PPL
$26.7B
$963K 0.02%
37,280
-4,540
-11% -$118K
AIZ icon
117
Assurant
AIZ
$13.9B
$960K 0.02%
9,290
-1,770
-16% -$183K
EXC icon
118
Exelon
EXC
$46.6B
$958K 0.02%
37,027
-21,240
-36% -$564K
KSU
119
DELISTED
Kansas City Southern
KSU
$958K 0.02%
6,420
+5,020
+359% +$706K
HII icon
120
Huntington Ingalls Industries
HII
$12.9B
$947K 0.02%
5,430
+4,850
+836% +$901K
SRE icon
121
Sempra
SRE
$56.2B
$939K 0.02%
16,020
-10,600
-40% -$651K
WFC icon
122
Wells Fargo
WFC
$269B
$937K 0.02%
36,600
-86,850
-70% -$2.38M
CDW icon
123
CDW
CDW
$17.1B
$932K 0.02%
8,020
+880
+12% +$95.3K
AEE icon
124
Ameren
AEE
$30.1B
$913K 0.02%
12,980
-8,040
-38% -$583K
VRTX icon
125
Vertex Pharmaceuticals
VRTX
$133B
$909K 0.02%
3,130
-560
-15% -$152K
3 4
5
6 7

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SFM
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AI
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HI
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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.