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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
PFSW
1576
DELISTED
PFSweb, Inc.
PFSW
– –
-110,920
Closed -$333K
UBA
1577
DELISTED
Urstadt Biddle Properties Inc. Class A
UBA
– –
-9,150
Closed -$129K
HSKA
1578
DELISTED
Heska Corp
HSKA
– –
-2,180
Closed -$121K
AAWW
1579
DELISTED
Atlas Air Worldwide Holdings, Inc.
AAWW
– –
-7,910
Closed -$203K
SBNY
1580
DELISTED
Signature Bank
SBNY
– –
-10,150
Closed -$816K
PEI
1581
DELISTED
Pennsylvania Real Estate Investment Trust
PEI
– –
-1,218
Closed -$17K
WLL
1582
DELISTED
Whiting Petroleum Corporation
WLL
– –
-373
Closed -$19K
REGI
1583
DELISTED
Renewable Energy Group, Inc.
REGI
– –
-12,070
Closed -$248K
UFS
1584
DELISTED
DOMTAR CORPORATION (New)
UFS
– –
-10,750
Closed -$233K
CMO
1585
DELISTED
Capstead Mortgage Corp.
CMO
– –
-29,090
Closed -$122K
CBB
1586
DELISTED
Cincinnati Bell Inc.
CBB
– –
-15,430
Closed -$226K
CKH
1587
DELISTED
Seacor Holdings Inc.
CKH
– –
-25,550
Closed -$689K
MTSC
1588
DELISTED
MTS Systems Corp
MTSC
– –
-5,500
Closed -$124K
CY
1589
DELISTED
Cypress Semiconductor
CY
– –
-69,310
Closed -$1.62M
STMP
1590
DELISTED
Stamps.com, Inc.
STMP
– –
-4,990
Closed -$649K
DCOM
1591
DELISTED
Dime Community Bancshares
DCOM
– –
-9,370
Closed -$128K
EE
1592
DELISTED
El Paso Electric Company
EE
– –
-12,620
Closed -$858K
DO
1593
DELISTED
Diamond Offshore Drilling
DO
– –
-19,810
Closed -$36K
VG
1594
DELISTED
Vonage Holdings Corporation
VG
– –
-70,650
Closed -$511K
CIT
1595
DELISTED
CIT Group Inc.
CIT
– –
-17,780
Closed -$307K
STL
1596
DELISTED
Sterling Bancorp
STL
– –
-38,060
Closed -$398K
CZR
1597
DELISTED
Caesars Entertainment Corporation
CZR
– –
-104,740
Closed -$708K
CADE
1598
DELISTED
Cadence Bancorporation
CADE
– –
-39,660
Closed -$260K
NEP
1599
DELISTED
CHINA NORTH EAST PETROLEUM HLDGS LTD
NEP
$0 ﹤0.01%
30,200
– –
AAN.A
1600
DELISTED
The Aaron's Company Inc Class A
AAN.A
– –
-12,530
Closed -$285K
61 62 63
64
65

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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.