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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
VPG icon
1301
Vishay Precision Group
VPG
$909M
– –
-12,960
Closed -$260K
VRA icon
1302
Vera Bradley
VRA
$94.7M
– –
-38,410
Closed -$158K
VRE
1303
DELISTED
Veris Residential
VRE
– –
-16,990
Closed -$259K
VREX icon
1304
Varex Imaging
VREX
$780M
– –
-11,750
Closed -$267K
VRSK icon
1305
Verisk Analytics
VRSK
$24.2B
– –
-2,350
Closed -$328K
VRTS icon
1306
Virtus Investment Partners
VRTS
$1.14B
– –
-2,260
Closed -$172K
VSAT icon
1307
Viasat
VSAT
$11.6B
– –
-10,820
Closed -$389K
VSEC icon
1308
VSE Corp
VSEC
$6.54B
– –
-18,350
Closed -$301K
VSH icon
1309
Vishay Intertechnology
VSH
$5.12B
– –
-24,550
Closed -$354K
VTLE
1310
DELISTED
Vital Energy
VTLE
– –
-2,762
Closed -$21K
VTOL icon
1311
Bristow Group
VTOL
$1.38B
– –
-22,410
Closed -$239K
VVV icon
1312
Valvoline
VVV
$4.31B
– –
-35,357
Closed -$463K
VYX icon
1313
NCR Voyix
VYX
$1.17B
– –
-39,039
Closed -$424K
WABC icon
1314
Westamerica Bancorp
WABC
$1.39B
– –
-8,380
Closed -$493K
WAFD icon
1315
WaFd
WAFD
$2.81B
– –
-14,730
Closed -$382K
WAT icon
1316
Waters Corp
WAT
$40.7B
– –
-920
Closed -$167K
WBS icon
1317
Webster Financial
WBS
$12.8B
– –
-17,270
Closed -$395K
WD icon
1318
Walker & Dunlop
WD
$1.46B
– –
-8,880
Closed -$358K
WDC icon
1319
Western Digital
WDC
$167B
– –
-5,546
Closed -$174K
WDFC icon
1320
WD-40
WDFC
$3.11B
– –
-4,250
Closed -$854K
WEC icon
1321
WEC Energy
WEC
$36B
– –
-4,483
Closed -$395K
WERN icon
1322
Werner Enterprises
WERN
$2.32B
– –
-8,170
Closed -$296K
WEN icon
1323
Wendy's
WEN
$1.65B
– –
-34,220
Closed -$509K
WEX icon
1324
WEX
WEX
$6.8B
– –
-8,120
Closed -$849K
WGO icon
1325
Winnebago Industries
WGO
$918M
– –
-10,440
Closed -$290K
51 52
53
54 55

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SFM
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AI
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HI
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PEA
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WPL
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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.