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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
PKG icon
151
Packaging Corp of America
PKG
$22.8B
$777K 0.02%
7,790
+6,480
+495% +$616K
CI icon
152
Cigna
CI
$73.3B
$764K 0.02%
4,070
-4,374
-52% -$830K
TFX icon
153
Teleflex
TFX
$5.78B
$761K 0.02%
2,090
-460
-18% -$159K
EMN icon
154
Eastman Chemical
EMN
$8.29B
$760K 0.02%
10,920
-1,940
-15% -$122K
ELV icon
155
Elevance Health
ELV
$86.6B
$757K 0.02%
2,880
-3,310
-53% -$883K
RJF icon
156
Raymond James Financial
RJF
$34.9B
$756K 0.02%
16,485
-5,085
-24% -$229K
EW icon
157
Edwards Lifesciences
EW
$53.6B
$751K 0.02%
10,860
-5,850
-35% -$416K
RMD icon
158
ResMed
RMD
$32.8B
$745K 0.02%
3,880
+1,840
+90% +$301K
DISH
159
DELISTED
DISH Network Corp.
DISH
$741K 0.02%
21,480
+17,880
+497% +$497K
CBRE icon
160
CBRE Group
CBRE
$42.7B
$732K 0.02%
16,190
-15,660
-49% -$675K
STT icon
161
State Street
STT
$52.2B
$731K 0.02%
11,510
-3,720
-24% -$225K
HPE icon
162
Hewlett Packard
HPE
$77.8B
$729K 0.02%
74,910
+55,650
+289% +$546K
GPC icon
163
Genuine Parts
GPC
$18.5B
$724K 0.02%
8,330
-6,810
-45% -$538K
K
164
DELISTED
Kellanova
K
$723K 0.02%
11,651
+7,849
+206% +$475K
CPB icon
165
Campbell Soup
CPB
$6.74B
$717K 0.02%
14,440
+11,770
+441% +$585K
AIG icon
166
American International
AIG
$39.8B
$707K 0.02%
22,680
-2,930
-11% -$82.3K
FOX icon
167
Fox Class B
FOX
$23.5B
$699K 0.02%
26,050
+23,854
+1,086% +$634K
AMAT icon
168
Applied Materials
AMAT
$435B
$696K 0.02%
11,510
-1,800
-14% -$97.1K
FOXA icon
169
Fox Class A
FOXA
$26.5B
$686K 0.02%
25,570
-6,560
-20% -$177K
KR icon
170
Kroger
KR
$34.3B
$685K 0.02%
20,250
-14,280
-41% -$463K
TFC icon
171
Truist Financial
TFC
$64.3B
$684K 0.02%
18,210
-25,937
-59% -$934K
IPG
172
DELISTED
Interpublic Group of Companies
IPG
$673K 0.02%
39,240
+33,910
+636% +$559K
VMC icon
173
Vulcan Materials
VMC
$36.3B
$671K 0.02%
5,790
+690
+14% +$75.6K
MU icon
174
Micron Technology
MU
$1.03T
$662K 0.02%
12,840
-3,030
-19% -$143K
SO icon
175
Southern Company
SO
$106B
$649K 0.02%
12,510
-29,740
-70% -$1.65M
5 6
7
8 9

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VAS
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SFM
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AI
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HI
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PEA
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SUT
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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.