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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
+10.72%
1 Year Est. Return
+13.04%
3 Year Est. Return
+34.61%
5 Year Est. Return
+23.86%
10 Year Est. Return
–
AUM
$5.13B
AUM Growth
+$969M
Cap. Flow
+$535M
Cap. Flow %
10.43%
Top 10 Hldgs %
90.65%
Holding
25
New
11
Increased
6
Reduced
4
Closed
–

Top Buys

Rank Stock Value
1
IEMG icon
iShares Core MSCI Emerging Markets ETF
IEMG
+$133M
2
VGK icon
Vanguard FTSE Europe ETF
VGK
+$117M
3
SPTI icon
State Street SPDR Portfolio Intermediate Term Treasury ETF
SPTI
+$114M
4
SPTS icon
State Street SPDR Portfolio Short Term Treasury ETF
SPTS
+$96.8M
5
USHY icon
iShares Broad USD High Yield Corporate Bond ETF
USHY
+$77.9M

Top Sells

Rank Stock Value
1
EEM icon
iShares MSCI Emerging Markets ETF
EEM
+$131M
2
IJH icon
iShares Core S&P Mid-Cap ETF
IJH
+$83.6M
3
MBB icon
iShares MBS ETF
MBB
+$41.2M
4
IJR icon
iShares Core S&P Small-Cap ETF
IJR
+$38M

Sector Composition

Rank Sector Weight
1 Materials 1.58%
2 Consumer Discretionary 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
IVV icon
1
iShares Core S&P 500 ETF
IVV
$904B
$1.99B 38.74%
5,293,807
+25,350
+0.5% +$9.02M
SPTS icon
2
State Street SPDR Portfolio Short Term Treasury ETF
SPTS
$6.11B
$707M 13.79%
23,025,051
+3,153,875
+16% +$96.8M
SPTI icon
3
State Street SPDR Portfolio Intermediate Term Treasury ETF
SPTI
$10.6B
$595M 11.6%
18,002,699
+3,435,473
+24% +$114M
IJH icon
4
iShares Core S&P Mid-Cap ETF
IJH
$128B
$446M 8.69%
9,694,840
-1,984,925
-17% -$83.6M
EMB icon
5
iShares JPMorgan USD Emerging Markets Bond ETF
EMB
$14.9B
$267M 5.21%
2,303,556
+256,141
+13% +$29M
BBJP icon
6
JPMorgan BetaBuilders Japan ETF
BBJP
$19.1B
$200M 3.9%
3,576,195
– –
IEMG icon
7
iShares Core MSCI Emerging Markets ETF
IEMG
$158B
$143M 2.8%
+2,310,769
New +$133M
VGK icon
8
Vanguard FTSE Europe ETF
VGK
$31B
$125M 2.44%
+2,080,181
New +$117M
SPTL icon
9
State Street SPDR Portfolio Long Term Treasury ETF
SPTL
$10.7B
$94M 1.83%
2,082,167
+1,363,199
+190% +$61.9M
TLT icon
10
iShares 20+ Year Treasury Bond ETF
TLT
$40.6B
$84.3M 1.64%
534,409
– –
GATO
11
DELISTED
Gatos Silver, Inc.
GATO
$80.9M 1.58%
+6,205,259
New +$47.5M
USHY icon
12
iShares Broad USD High Yield Corporate Bond ETF
USHY
$29.1B
$79.7M 1.55%
+1,932,319
New +$77.9M
IJR icon
13
iShares Core S&P Small-Cap ETF
IJR
$112B
$64.8M 1.26%
704,689
-462,164
-40% -$38M
PICK icon
14
iShares MSCI Global Metals & Mining Producers ETF
PICK
$2.33B
$59.8M 1.17%
+1,621,893
New +$50.7M
MBB icon
15
iShares MBS ETF
MBB
$39B
$50M 0.97%
454,011
-374,543
-45% -$41.2M
IEUR icon
16
iShares Core MSCI Europe ETF
IEUR
$9.14B
$30.6M 0.6%
596,573
– –
FALN icon
17
iShares Fallen Angels USD Bond ETF
FALN
$1.6B
$27.3M 0.53%
+929,373
New +$26.3M
HYBB icon
18
iShares BB Rated Corporate Bond ETF
HYBB
$428M
$26.1M 0.51%
+500,821
New +$25.6M
RING icon
19
iShares MSCI Global Gold Miners ETF
RING
$2.48B
$22.7M 0.44%
+758,455
New +$23.5M
XLE icon
20
State Street Energy Select Sector SPDR ETF
XLE
$39.9B
$17.9M 0.35%
+944,800
New +$16.3M
STIP icon
21
iShares 0-5 Year TIPS Bond ETF
STIP
$15.9B
$10.7M 0.21%
102,546
– –
EEM icon
22
iShares MSCI Emerging Markets ETF
EEM
$30.4B
$7.41M 0.14%
143,336
-2,716,907
-95% -$131M
SPY icon
23
State Street SPDR S&P 500 ETF Trust
SPY
$809B
$1.97M 0.04%
5,276
+21
+0.4% +$7.45K
MLKN icon
24
MillerKnoll
MLKN
$1.64B
$3K ﹤0.01%
+102
New +$3.55K
LLEN
25
DELISTED
L & L ENERGY INC COM STK (NV)
LLEN
$1K ﹤0.01%
+48,200
New +$1K

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Municipal Employees' Retirement System of Michigan's Q4 2020 Portfolio in Review

As of Q4 2020, Municipal Employees' Retirement System of Michigan held 25 positions worth $5.13B, up 23% from $4.16B the previous quarter. Its ten largest holdings account for 91% of the portfolio.

Municipal Employees' Retirement System of Michigan deployed $535M of net new capital in Q4 2020, opening 11 new positions and adding to 6 existing holdings. Its largest new stake was iShares Core MSCI Emerging Markets ETF: 2,310,769 shares worth $143M.

By sector, the portfolio is most concentrated in Materials at 1.6% of assets, up from 0% a quarter earlier, followed by Consumer Discretionary.

On the sell side, the largest reduction was iShares MSCI Emerging Markets ETF, an estimated $131M trimmed.

  • Municipal Employees' Retirement System of Michigan's largest Q4 2020 buy was iShares Core MSCI Emerging Markets ETF: 2,310,769 shares worth $143M.
  • Municipal Employees' Retirement System of Michigan added most to State Street SPDR Portfolio Intermediate Term Treasury ETF in Q4 2020, an estimated $114M increase.
  • Municipal Employees' Retirement System of Michigan's biggest Q4 2020 reduction was iShares MSCI Emerging Markets ETF, cutting an estimated $131M.
  • Municipal Employees' Retirement System of Michigan's ten largest holdings make up 91% of its $5.13B portfolio in Q4 2020.
  • Municipal Employees' Retirement System of Michigan opened 11 new positions and closed 0 in Q4 2020.
  • Municipal Employees' Retirement System of Michigan's portfolio value rose 23% quarter-over-quarter to $5.13B.

Based on Municipal Employees' Retirement System of Michigan's 13F filing for Q4 2020, filed 5 Jan 2021.