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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
BOCH
1501
DELISTED
Bank of Commerce Holdings (CA)
BOCH
– –
-50,720
Closed -$399K
CORE
1502
DELISTED
Core Mark Holding Co., Inc.
CORE
– –
-14,040
Closed -$401K
SYKE
1503
DELISTED
SYKES Enterprises Inc
SYKE
– –
-11,840
Closed -$321K
USCR
1504
DELISTED
U S Concrete, Inc.
USCR
– –
-4,840
Closed -$88K
WRI
1505
DELISTED
Weingarten Realty Investors
WRI
– –
-22,700
Closed -$328K
LMNX
1506
DELISTED
Luminex Corp
LMNX
– –
-12,820
Closed -$353K
PRAH
1507
DELISTED
PRA Health Sciences, Inc.
PRAH
– –
-11,870
Closed -$986K
BPFH
1508
DELISTED
Boston Private Financial Holdings, Inc.
BPFH
– –
-25,680
Closed -$184K
GRUB
1509
DELISTED
Just Eat Takeaway.com N.V. American Depositary Shares
GRUB
– –
-8,580
Closed -$699K
CTB
1510
DELISTED
Cooper Tire & Rubber Co.
CTB
– –
-15,550
Closed -$253K
CLGX
1511
DELISTED
Corelogic, Inc.
CLGX
– –
-14,860
Closed -$454K
CMD
1512
DELISTED
Cantel Medical Corporation
CMD
– –
-7,030
Closed -$252K
CUB
1513
DELISTED
Cubic Corporation
CUB
– –
-9,690
Closed -$400K
AEGN
1514
DELISTED
Aegion Corp
AEGN
– –
-9,450
Closed -$169K
FLIR
1515
DELISTED
FLIR Systems, Inc. (DE) Common Stock
FLIR
– –
-13,300
Closed -$424K
PRSP
1516
DELISTED
Perspecta Inc. Common Stock
PRSP
– –
-25,590
Closed -$467K
WDR
1517
DELISTED
Waddell & Reed Financial, Inc.
WDR
– –
-22,360
Closed -$254K
GLUU
1518
DELISTED
Glu Mobile Inc.
GLUU
– –
-35,680
Closed -$224K
EGOV
1519
DELISTED
NIC Inc
EGOV
– –
-20,750
Closed -$477K
VAR
1520
DELISTED
Varian Medical Systems, Inc.
VAR
– –
-1,290
Closed -$132K
MIK
1521
DELISTED
Michaels Stores, Inc
MIK
– –
-24,710
Closed -$40K
HPR
1522
DELISTED
HighPoint Resources Corporation
HPR
– –
-658
Closed -$6K
HMSY
1523
DELISTED
HMS Holdings Corp.
HMSY
– –
-27,290
Closed -$690K
QEP
1524
DELISTED
QEP RESOURCES, INC.
QEP
– –
-72,810
Closed -$24K
EV
1525
DELISTED
Eaton Vance Corp.
EV
– –
-21,230
Closed -$685K
59 60
61
62 63

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SFM
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AI
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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.