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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
DISCK
176
DELISTED
Discovery, Inc. Series C Common Stock
DISCK
$647K 0.02%
33,600
+28,606
+573% +$560K
WBA
177
DELISTED
Walgreens Boots Alliance
WBA
$646K 0.02%
15,240
+4,490
+42% +$191K
KHC icon
178
Kraft Heinz
KHC
$30B
$637K 0.02%
19,970
+11,240
+129% +$337K
CF icon
179
CF Industries
CF
$17.8B
$633K 0.02%
22,490
+10,980
+95% +$312K
SJM icon
180
J.M. Smucker
SJM
$12.9B
$631K 0.02%
5,960
-1,580
-21% -$178K
ED icon
181
Consolidated Edison
ED
$40B
$621K 0.02%
8,630
+3,920
+83% +$301K
KLAC icon
182
KLA
KLAC
$274B
$617K 0.02%
31,700
+8,800
+38% +$150K
WAB icon
183
Wabtec
WAB
$49.8B
$609K 0.02%
10,570
+3,263
+45% +$185K
DVA icon
184
DaVita
DVA
$11.6B
$604K 0.02%
7,630
+6,260
+457% +$489K
VNO icon
185
Vornado Realty Trust
VNO
$7.47B
$598K 0.01%
15,640
-15,480
-50% -$601K
GILD icon
186
Gilead Sciences
GILD
$170B
$594K 0.01%
7,720
-26,090
-77% -$2M
SIVB
187
DELISTED
SVB Financial Group
SIVB
$588K 0.01%
2,730
-90
-3% -$17.3K
RL icon
188
Ralph Lauren
RL
$23.1B
$581K 0.01%
8,010
+2,510
+46% +$185K
LEG icon
189
Leggett & Platt
LEG
$1.32B
$580K 0.01%
16,510
+14,640
+783% +$454K
HUM icon
190
Humana
HUM
$46.5B
$578K 0.01%
1,490
-2,480
-62% -$928K
QRVO icon
191
Qorvo
QRVO
$8.68B
$576K 0.01%
5,210
-1,840
-26% -$182K
GM icon
192
General Motors
GM
$76.5B
$571K 0.01%
22,580
-20,550
-48% -$500K
FITB
193
Fifth Third Bancorp
FITB
$52.8B
$566K 0.01%
29,380
-12,300
-30% -$228K
RF icon
194
Regions Financial
RF
$27.1B
$553K 0.01%
49,690
-6,720
-12% -$71.5K
SYF icon
195
Synchrony
SYF
$26B
$543K 0.01%
24,490
-9,050
-27% -$176K
KEYS icon
196
Keysight
KEYS
$60.5B
$534K 0.01%
5,300
+2,660
+101% +$261K
XRX icon
197
Xerox
XRX
$414M
$531K 0.01%
34,710
+12,793
+58% +$221K
LNC icon
198
Lincoln National
LNC
$8.56B
$524K 0.01%
14,240
-2,870
-17% -$101K
DHI icon
199
D.R. Horton
DHI
$41.6B
$522K 0.01%
9,420
-4,710
-33% -$228K
UNM icon
200
Unum
UNM
$14.9B
$516K 0.01%
31,080
-2,940
-9% -$46.4K
6 7
8
9 10

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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.