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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
IVV icon
1
iShares Core S&P 500 ETF
IVV
$904B
$1.01B 25.28%
3,266,549
+1,187,200
+57% +$349M
SPTS icon
2
State Street SPDR Portfolio Short Term Treasury ETF
SPTS
$6.11B
$580M 14.51%
18,893,978
+17,229,943
+1,035% +$529M
SPTI icon
3
State Street SPDR Portfolio Intermediate Term Treasury ETF
SPTI
$10.6B
$439M 10.97%
+13,211,396
New +$437M
IJH icon
4
iShares Core S&P Mid-Cap ETF
IJH
$128B
$413M 10.32%
+11,606,945
New +$385M
SPY icon
5
State Street SPDR S&P 500 ETF Trust
SPY
$809B
$386M 9.63%
1,250,193
– –
EMB icon
6
iShares JPMorgan USD Emerging Markets Bond ETF
EMB
$14.9B
$295M 7.38%
2,702,315
+1,538,984
+132% +$159M
BBJP icon
7
JPMorgan BetaBuilders Japan ETF
BBJP
$19.1B
$164M 4.1%
3,576,195
+1,936,842
+118% +$85.2M
GOVT icon
8
iShares US Treasury Bond ETF
GOVT
$43.7B
$108M 2.71%
+3,873,814
New +$108M
MBB icon
9
iShares MBS ETF
MBB
$39B
$91.7M 2.29%
828,554
+455,277
+122% +$50.4M
TLT icon
10
iShares 20+ Year Treasury Bond ETF
TLT
$40.6B
$87.6M 2.19%
+534,409
New +$88M
IJR icon
11
iShares Core S&P Small-Cap ETF
IJR
$112B
$79.2M 1.98%
+1,159,522
New +$73.2M
IEUR icon
12
iShares Core MSCI Europe ETF
IEUR
$9.14B
$25.5M 0.64%
596,573
-4,099,898
-87% -$165M
STIP icon
13
iShares 0-5 Year TIPS Bond ETF
STIP
$15.9B
$10.5M 0.26%
102,546
-347,118
-77% -$35.2M
PYPL icon
14
PayPal
PYPL
$50.6B
$3.81M 0.1%
21,890
+5,060
+30% +$699K
NVDA icon
15
NVIDIA
NVDA
$5.43T
$3.76M 0.09%
395,600
-664,000
-63% -$5.37M
ADBE icon
16
Adobe
ADBE
$103B
$3.68M 0.09%
8,460
-11,490
-58% -$4.26M
AVGO icon
17
Broadcom
AVGO
$1.98T
$3.63M 0.09%
115,000
+58,120
+102% +$1.63M
AAPL icon
18
Apple
AAPL
$4.41T
$3.62M 0.09%
39,680
-257,120
-87% -$19.9M
AMZN icon
19
Amazon
AMZN
$2.88T
$3.61M 0.09%
26,200
-132,400
-83% -$16M
TXN icon
20
Texas Instruments
TXN
$253B
$3.51M 0.09%
27,640
-15,170
-35% -$1.77M
MSFT icon
21
Microsoft
MSFT
$3.66T
$3.44M 0.09%
16,920
-117,390
-87% -$21.3M
NKE icon
22
Nike
NKE
$60.1B
$3.43M 0.09%
34,980
-21,050
-38% -$1.94M
CMCSA icon
23
Comcast
CMCSA
$90.4B
$3.4M 0.09%
87,340
-53,590
-38% -$2.04M
UNP icon
24
Union Pacific
UNP
$174B
$3.39M 0.08%
20,050
-10,400
-34% -$1.67M
TMO icon
25
Thermo Fisher Scientific
TMO
$223B
$3.37M 0.08%
9,310
+3,560
+62% +$1.19M
1
2 3 4 5

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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.