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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
ESS icon
126
Essex Property Trust
ESS
$18.1B
$908K 0.02%
3,960
+3,010
+317% +$722K
GPN icon
127
Global Payments
GPN
$23.4B
$907K 0.02%
5,350
+1,040
+24% +$173K
SHW icon
128
Sherwin-Williams
SHW
$87.4B
$901K 0.02%
4,680
+1,140
+32% +$206K
WBD icon
129
Warner Bros
WBD
$69.3B
$889K 0.02%
42,150
+27,770
+193% +$600K
CHD icon
130
Church & Dwight Co
CHD
$24B
$862K 0.02%
11,150
+7,650
+219% +$557K
PWR icon
131
Quanta Services
PWR
$102B
$854K 0.02%
21,770
+2,460
+13% +$87.7K
ES icon
132
Eversource Energy
ES
$26.9B
$849K 0.02%
10,200
+5,610
+122% +$465K
CBOE icon
133
Cboe Global Markets
CBOE
$30.4B
$839K 0.02%
8,990
+7,440
+480% +$733K
PRU icon
134
Prudential Financial
PRU
$42.3B
$832K 0.02%
13,660
-6,280
-31% -$369K
BEN icon
135
Franklin Resources
BEN
$17.1B
$831K 0.02%
39,630
-4,090
-9% -$77.2K
SLG icon
136
SL Green Realty
SLG
$4B
$831K 0.02%
17,417
+465
+3% +$21.3K
ALXN
137
DELISTED
Alexion Pharmaceuticals
ALXN
$818K 0.02%
7,290
+340
+5% +$36.1K
IP icon
138
International Paper
IP
$21.8B
$812K 0.02%
24,362
+1,383
+6% +$44K
BWA icon
139
BorgWarner
BWA
$14B
$811K 0.02%
26,105
+5,407
+26% +$142K
MLM icon
140
Martin Marietta Materials
MLM
$32.7B
$810K 0.02%
3,920
+3,040
+345% +$584K
AVY icon
141
Avery Dennison
AVY
$13.7B
$809K 0.02%
7,090
+5,920
+506% +$650K
FLS icon
142
Flowserve
FLS
$10.3B
$809K 0.02%
28,370
+26,510
+1,425% +$707K
EQR icon
143
Equity Residential
EQR
$24.2B
$801K 0.02%
13,610
+8,670
+176% +$537K
PH icon
144
Parker-Hannifin
PH
$135B
$797K 0.02%
4,350
+2,530
+139% +$408K
PFG icon
145
Principal Financial Group
PFG
$24.4B
$796K 0.02%
19,160
-3,640
-16% -$133K
AKAM icon
146
Akamai
AKAM
$17.6B
$795K 0.02%
7,420
+5,080
+217% +$511K
EA
147
DELISTED
Electronic Arts
EA
$788K 0.02%
5,970
-720
-11% -$85.1K
EIX icon
148
Edison International
EIX
$26.7B
$787K 0.02%
14,500
+9,430
+186% +$543K
ETR icon
149
Entergy
ETR
$50.3B
$784K 0.02%
16,720
-14,480
-46% -$703K
FBIN icon
150
Fortune Brands Innovations
FBIN
$5.83B
$781K 0.02%
14,286
+11,958
+514% +$556K
4 5
6
7 8

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SFM
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AI
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HI
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PEA
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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.