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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
WH icon
1326
Wyndham Hotels & Resorts
WH
$5.5B
– –
-17,890
Closed -$564K
WING icon
1327
Wingstop
WING
$3.15B
– –
-9,120
Closed -$727K
WKC icon
1328
World Kinect Corp
WKC
$1.9B
– –
-12,130
Closed -$305K
WLY icon
1329
John Wiley & Sons Class A
WLY
$2.62B
– –
-8,100
Closed -$304K
WNC icon
1330
Wabash National
WNC
$511M
– –
-16,670
Closed -$120K
WNEB icon
1331
Western New England Bancorp
WNEB
$281M
– –
-44,810
Closed -$303K
WOLF icon
1332
Wolfspeed
WOLF
$1.63B
– –
-20,210
Closed -$717K
WOR icon
1333
Worthington Enterprises
WOR
$2.83B
– –
-11,030
Closed -$179K
WRB icon
1334
W.R. Berkley
WRB
$26.2B
– –
-4,635
Closed -$107K
WRLD icon
1335
World Acceptance Corp
WRLD
$889M
– –
-1,680
Closed -$92K
WSM icon
1336
Williams-Sonoma
WSM
$28.6B
– –
-29,020
Closed -$617K
WSO icon
1337
Watsco Inc
WSO
$12.9B
– –
-6,130
Closed -$969K
WSR
1338
DELISTED
Whitestone REIT
WSR
– –
-58,360
Closed -$362K
WST icon
1339
West Pharmaceutical
WST
$24.4B
– –
-13,890
Closed -$2.12M
WT icon
1340
WisdomTree
WT
$3.44B
– –
-36,070
Closed -$84K
WTFC icon
1341
Wintrust Financial
WTFC
$11B
– –
-10,710
Closed -$352K
WTRG icon
1342
Essential Utilities
WTRG
$11.5B
– –
-40,510
Closed -$1.65M
WTS icon
1343
Watts Water Technologies
WTS
$12.8B
– –
-8,550
Closed -$724K
WU icon
1344
Western Union
WU
$2.34B
– –
-5,950
Closed -$108K
WW
1345
DELISTED
WW International
WW
– –
-8,520
Closed -$144K
WWD icon
1346
Woodward
WWD
$21.2B
– –
-10,580
Closed -$629K
WWW icon
1347
Wolverine World Wide
WWW
$1.63B
– –
-25,050
Closed -$381K
WYNN icon
1348
Wynn Resorts
WYNN
$10.5B
– –
-1,360
Closed -$82K
WY icon
1349
Weyerhaeuser
WY
$17.9B
– –
-10,558
Closed -$179K
X
1350
DELISTED
US Steel
X
– –
-31,670
Closed -$200K
52 53
54
55 56

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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
HI
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PEA
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SUT
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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.