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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
UPBD icon
1276
Upbound Group
UPBD
$1.15B
– –
-51,690
Closed -$731K
URBN icon
1277
Urban Outfitters
URBN
$6.53B
– –
-12,980
Closed -$185K
URI icon
1278
United Rentals
URI
$69.7B
– –
-3,850
Closed -$396K
USB icon
1279
US Bancorp
USB
$102B
– –
-62,110
Closed -$2.14M
USHY icon
1280
iShares Broad USD High Yield Corporate Bond ETF
USHY
$29.2B
– –
-1,504,211
Closed -$53.4M
USNA icon
1281
Usana Health Sciences
USNA
$252M
– –
-3,950
Closed -$228K
USPH icon
1282
US Physical Therapy
USPH
$1.24B
– –
-3,960
Closed -$273K
UTHR icon
1283
United Therapeutics
UTHR
$21.5B
– –
-8,230
Closed -$780K
UTMD icon
1284
Utah Medical Products
UTMD
$230M
– –
-5,280
Closed -$497K
UVE icon
1285
Universal Insurance Holdings
UVE
$1.18B
– –
-9,620
Closed -$172K
UVV icon
1286
Universal Corp
UVV
$1.12B
– –
-7,640
Closed -$338K
UVSP icon
1287
Univest Financial
UVSP
$1.19B
– –
-20,410
Closed -$333K
VAC icon
1288
Marriott Vacations Worldwide
VAC
$4.17B
– –
-7,025
Closed -$390K
VBTX
1289
DELISTED
Veritex Holdings
VBTX
– –
-14,901
Closed -$208K
VC icon
1290
Visteon
VC
$2.86B
– –
-5,190
Closed -$249K
VECO icon
1291
Veeco
VECO
$3.28B
– –
-15,148
Closed -$145K
VFC icon
1292
VF Corp
VFC
$5.79B
– –
-12,940
Closed -$699K
VGK icon
1293
Vanguard FTSE Europe ETF
VGK
$31.1B
– –
-1,232,134
Closed -$53.3M
VIAV icon
1294
Viavi Solutions
VIAV
$10.6B
– –
-71,190
Closed -$798K
VICR icon
1295
Vicor
VICR
$10.4B
– –
-5,680
Closed -$253K
VLGEA icon
1296
Village Super Market
VLGEA
$638M
– –
-46,860
Closed -$1.15M
VLO icon
1297
Valero Energy
VLO
$98.7B
– –
-12,020
Closed -$545K
VLY icon
1298
Valley National Bancorp
VLY
$8.3B
– –
-73,510
Closed -$537K
VMI icon
1299
Valmont Industries
VMI
$9.5B
– –
-4,010
Closed -$425K
VNDA icon
1300
Vanda Pharmaceuticals
VNDA
$304M
– –
-49,380
Closed -$512K
50 51
52
53 54

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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
Partners Value Investments Hamilton, Bermuda $9.34B AUM 12.2% 1-Year Est. Return

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.