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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
DNR
1551
DELISTED
Denbury Resources, Inc.
DNR
– –
-152,640
Closed -$28K
LM
1552
DELISTED
Legg Mason, Inc.
LM
– –
-15,130
Closed -$739K
BGG
1553
DELISTED
Briggs & Stratton Corp.
BGG
– –
-12,590
Closed -$23K
MINI
1554
DELISTED
Mobile Mini Inc
MINI
– –
-13,680
Closed -$359K
TECD
1555
DELISTED
Tech Data Corp
TECD
– –
-6,600
Closed -$864K
AXE
1556
DELISTED
Anixter International Inc
AXE
– –
-9,330
Closed -$820K
PGNX
1557
DELISTED
Progenics Pharmaceuticals Inc
PGNX
– –
-26,200
Closed -$100K
TIVO
1558
DELISTED
Tivo Inc
TIVO
– –
-39,230
Closed -$278K
OPB
1559
DELISTED
Opus Bank Common Stock
OPB
– –
-6,590
Closed -$114K
AKRX
1560
DELISTED
Akorn Inc
AKRX
– –
-28,950
Closed -$16K
JCP
1561
DELISTED
J.C. Penney Company, Inc.
JCP
– –
-89,640
Closed -$32K
RTN
1562
DELISTED
Raytheon Company
RTN
– –
-3,990
Closed -$523K
TCF
1563
DELISTED
TCF Financial Corporation Common Stock
TCF
– –
-28,785
Closed -$652K
FNBC
1564
DELISTED
First NBC Bank Holding Company
FNBC
– –
-3,840
Closed –
ESTE
1565
DELISTED
Earthstone Energy Inc. Class A Common Stock
ESTE
– –
-56,850
Closed -$100K
WPG
1566
DELISTED
Washington Prime Group Inc.
WPG
– –
-6,344
Closed -$46K
TACO
1567
DELISTED
Del Taco Restaurants, Inc. Common Stock
TACO
– –
-32,050
Closed -$110K
BEAT
1568
DELISTED
BioTelemetry, Inc.
BEAT
– –
-10,530
Closed -$406K
FBC
1569
DELISTED
Flagstar Bancorp, Inc. New
FBC
– –
-10,680
Closed -$212K
EGLE
1570
DELISTED
Eagle Bulk Shipping Inc.
EGLE
– –
-12,830
Closed -$166K
KEM
1571
DELISTED
KEMET Corporation
KEM
– –
-18,000
Closed -$435K
ATVI
1572
DELISTED
Activision Blizzard
ATVI
– –
-15,420
Closed -$917K
HIBB
1573
DELISTED
Hibbett, Inc. Common Stock
HIBB
– –
-40,090
Closed -$439K
VSTO
1574
DELISTED
Vista Outdoor Inc.
VSTO
– –
-17,510
Closed -$154K
EBIX
1575
DELISTED
Ebix Inc
EBIX
– –
-6,900
Closed -$105K
61 62
63
64 65

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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.