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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
TTWO icon
1251
Take-Two Interactive
TTWO
$45.2B
– –
-1,610
Closed -$191K
TWI icon
1252
Titan International
TWI
$438M
– –
-14,650
Closed -$23K
TWIN icon
1253
Twin Disc
TWIN
$349M
– –
-35,510
Closed -$248K
TXRH icon
1254
Texas Roadhouse
TXRH
$13.6B
– –
-12,130
Closed -$501K
TYL icon
1255
Tyler Technologies
TYL
$13.5B
– –
-7,320
Closed -$2.17M
UA icon
1256
Under Armour Class C
UA
$2.25B
– –
-2,581
Closed -$21K
UAA icon
1257
Under Armour
UAA
$2.3B
– –
-10,180
Closed -$94K
UBSI icon
1258
United Bankshares
UBSI
$6.68B
– –
-18,900
Closed -$436K
UCTT
1259
Ultra Clean Holdings
UCTT
$4.21B
– –
-12,330
Closed -$170K
UDR icon
1260
UDR
UDR
$12.2B
– –
-4,150
Closed -$152K
UE icon
1261
Urban Edge Properties
UE
$2.78B
– –
-21,610
Closed -$190K
UEIC icon
1262
Universal Electronics
UEIC
$66.6M
– –
-4,250
Closed -$163K
UFCS icon
1263
United Fire Group
UFCS
$1.38B
– –
-6,570
Closed -$214K
UFI icon
1264
UNIFI
UFI
$120M
– –
-4,470
Closed -$52K
UFPI icon
1265
UFP Industries
UFPI
$5.03B
– –
-19,020
Closed -$707K
UFPT icon
1266
UFP Technologies
UFPT
$2.48B
– –
-9,760
Closed -$372K
UGI icon
1267
UGI
UGI
$7.56B
– –
-39,220
Closed -$1.05M
UHS icon
1268
Universal Health Services
UHS
$10.1B
– –
-5,470
Closed -$542K
UHT
1269
Universal Health Realty Income Trust
UHT
$573M
– –
-3,920
Closed -$395K
UIS icon
1270
Unisys
UIS
$210M
– –
-15,840
Closed -$196K
ULTA icon
1271
Ulta Beauty
ULTA
$22.2B
– –
-830
Closed -$146K
UMBF icon
1272
UMB Financial
UMBF
$11.5B
– –
-8,010
Closed -$372K
UNF icon
1273
Unifirst Corp
UNF
$5.21B
– –
-4,740
Closed -$716K
UNFI icon
1274
United Natural Foods
UNFI
$2.94B
– –
-16,520
Closed -$152K
UNIT
1275
Uniti Group
UNIT
$2.38B
– –
-59,880
Closed -$361K
49 50
51
52 53

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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.