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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
XEL icon
1351
Xcel Energy
XEL
$49.4B
– –
-7,430
Closed -$448K
XHR
1352
Xenia Hotels & Resorts
XHR
$1.75B
– –
-34,900
Closed -$359K
XNCR icon
1353
Xencor
XNCR
$1.7B
– –
-15,290
Closed -$457K
XPO icon
1354
XPO
XPO
$25B
– –
-50,079
Closed -$844K
XYL icon
1355
Xylem
XYL
$28.1B
– –
-2,560
Closed -$167K
YELP icon
1356
Yelp
YELP
$1.28B
– –
-11,890
Closed -$214K
YUM icon
1357
Yum! Brands
YUM
$41.3B
– –
-4,290
Closed -$294K
ZBH icon
1358
Zimmer Biomet
ZBH
$18.7B
– –
-2,997
Closed -$294K
ZD icon
1359
Ziff Davis
ZD
$1.89B
– –
-9,913
Closed -$645K
ZEUS
1360
DELISTED
Olympic Steel
ZEUS
– –
-76,010
Closed -$786K
ZUMZ icon
1361
Zumiez
ZUMZ
$319M
– –
-25,990
Closed -$450K
DAY
1362
DELISTED
Dayforce
DAY
– –
-18,910
Closed -$947K
MTUS icon
1363
Metallus
MTUS
$894M
– –
-12,210
Closed -$39K
TBRG
1364
DELISTED
TruBridge
TBRG
– –
-3,820
Closed -$85K
CPAY icon
1365
Corpay
CPAY
$27.3B
– –
-1,230
Closed -$229K
CNR
1366
Core Natural Resources Inc
CNR
$4.63B
– –
-8,210
Closed -$30K
TXNM
1367
TXNM Energy Inc
TXNM
$5.92B
– –
-14,950
Closed -$568K
UCB
1368
United Community Banks
UCB
$4.42B
– –
-24,470
Closed -$448K
GAP
1369
The Gap Inc
GAP
$7.29B
– –
-2,870
Closed -$20K
INVX
1370
Innovex International
INVX
$2.16B
– –
-11,210
Closed -$342K
FLG
1371
Flagstar Bank National Association
FLG
$5.94B
– –
-29,237
Closed -$824K
MAGN
1372
Magnera Corp
MAGN
$434M
– –
-1,052
Closed -$167K
NPKI
1373
NPK International
NPKI
$1.19B
– –
-125,170
Closed -$113K
PRSU
1374
Pursuit Attractions and Hospitality Inc
PRSU
$1.29B
– –
-6,300
Closed -$134K
JBTM
1375
JBT Marel
JBTM
$6.08B
– –
-9,810
Closed -$729K
53 54
55
56 57

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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
Horizon Investments Charlotte, North Carolina $8.92B AUM 25.62% 1-Year Est. Return
PEA
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SUT
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MU
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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.