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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
ZBRA icon
201
Zebra Technologies
ZBRA
$18B
$514K 0.01%
2,010
+1,240
+161% +$291K
WRK
202
DELISTED
WestRock Company
WRK
$502K 0.01%
17,770
+662
+4% +$18.8K
KMI icon
203
Kinder Morgan
KMI
$70.4B
$500K 0.01%
32,960
-62,810
-66% -$955K
COF icon
204
Capital One
COF
$137B
$499K 0.01%
7,970
-13,150
-62% -$819K
TXT icon
205
Textron
TXT
$15.2B
$491K 0.01%
14,920
-7,070
-32% -$209K
LEN icon
206
Lennar Class A
LEN
$21B
$486K 0.01%
8,150
-5,103
-39% -$261K
KMX icon
207
CarMax
KMX
$8.48B
$476K 0.01%
5,320
-2,350
-31% -$184K
GE icon
208
GE Aerospace
GE
$375B
$474K 0.01%
13,938
-11,176
-45% -$377K
NEM icon
209
Newmont
NEM
$121B
$473K 0.01%
7,660
-3,990
-34% -$236K
ALB icon
210
Albemarle
ALB
$15.7B
$468K 0.01%
6,060
-1,510
-20% -$103K
TGT icon
211
Target
TGT
$70.7B
$465K 0.01%
3,880
-6,480
-63% -$740K
O icon
212
Realty Income
O
$59.6B
$462K 0.01%
8,019
+3,200
+66% +$170K
IT icon
213
Gartner
IT
$11.3B
$451K 0.01%
3,720
-1,440
-28% -$166K
PHM icon
214
Pultegroup
PHM
$24.9B
$449K 0.01%
13,190
-8,060
-38% -$242K
CFG icon
215
Citizens Financial Group
CFG
$31.3B
$445K 0.01%
17,640
-12,530
-42% -$284K
KIM icon
216
Kimco Realty
KIM
$16.3B
$444K 0.01%
34,560
+28,720
+492% +$320K
HWM icon
217
Howmet Aerospace
HWM
$111B
$440K 0.01%
27,770
-3,096
-10% -$40.7K
IFF icon
218
International Flavors & Fragrances
IFF
$21.6B
$440K 0.01%
3,590
-2,010
-36% -$254K
WHR icon
219
Whirlpool
WHR
$2.86B
$431K 0.01%
3,330
-890
-21% -$102K
LUMN icon
220
Lumen
LUMN
$6.42B
$430K 0.01%
42,840
+28,927
+208% +$289K
HIG icon
221
Hartford Financial Services
HIG
$37.8B
$418K 0.01%
10,850
-30,010
-73% -$1.14M
MHK icon
222
Mohawk Industries
MHK
$9.46B
$404K 0.01%
3,970
+3,120
+367% +$274K
CAG icon
223
Conagra Brands
CAG
$7.38B
$389K 0.01%
11,050
-6,820
-38% -$227K
BIIB icon
224
Biogen
BIIB
$31B
$388K 0.01%
1,450
-1,770
-55% -$532K
LKQ icon
225
LKQ Corp
LKQ
$6.3B
$384K 0.01%
14,640
-7,630
-34% -$188K
7 8
9
10 11

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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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WPL
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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.