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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
-1.43%
1 Year Est. Return
+13.04%
3 Year Est. Return
+34.61%
5 Year Est. Return
+23.86%
10 Year Est. Return
–
AUM
$5.99B
AUM Growth
-$1.39B
Cap. Flow
-$1.34B
Cap. Flow %
-22.34%
Top 10 Hldgs %
84.95%
Holding
30
New
1
Increased
6
Reduced
9
Closed
3

Top Buys

Rank Stock Value
1
IEMG icon
iShares Core MSCI Emerging Markets ETF
IEMG
+$233M
2
VGSH icon
Vanguard Short-Term Treasury ETF
VGSH
+$110M
3
QVML icon
Invesco S&P 500 QVM Multi-factor ETF
QVML
+$2.15M
4
EMHC icon
State Street SPDR Bloomberg Emerging Markets USD Bond ETF
EMHC
+$1.73M
5
QVMM
Invesco QQQ Trust Series 1
QVMM
+$585K

Top Sells

Rank Stock Value
1
IVV icon
iShares Core S&P 500 ETF
IVV
+$942M
2
IJH icon
iShares Core S&P Mid-Cap ETF
IJH
+$229M
3
BBJP icon
JPMorgan BetaBuilders Japan ETF
BBJP
+$133M
4
IEF icon
iShares 7-10 Year Treasury Bond ETF
IEF
+$128M
5
SPTI icon
State Street SPDR Portfolio Intermediate Term Treasury ETF
SPTI
+$75M

Sector Composition

Rank Sector Weight
1 Materials 1.21%
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
$1.32B 21.97%
3,052,669
-2,124,790
-41% -$942M
QVML icon
2
Invesco S&P 500 QVM Multi-factor ETF
QVML
$1.53B
$756M 12.63%
30,059,406
+83,387
+0.3% +$2.15M
SPTS icon
3
State Street SPDR Portfolio Short Term Treasury ETF
SPTS
$6.11B
$748M 12.5%
24,433,260
– –
SPTI icon
4
State Street SPDR Portfolio Intermediate Term Treasury ETF
SPTI
$10.6B
$676M 11.29%
20,924,766
-2,301,319
-10% -$75M
IEMG icon
5
iShares Core MSCI Emerging Markets ETF
IEMG
$158B
$391M 6.53%
6,330,323
+3,666,747
+138% +$233M
EMB icon
6
iShares JPMorgan USD Emerging Markets Bond ETF
EMB
$14.9B
$302M 5.05%
2,746,761
-195,188
-7% -$21.9M
BBJP icon
7
JPMorgan BetaBuilders Japan ETF
BBJP
$19.1B
$241M 4.02%
4,095,539
-2,300,739
-36% -$133M
IJH icon
8
iShares Core S&P Mid-Cap ETF
IJH
$128B
$234M 3.92%
4,454,900
-4,260,030
-49% -$229M
TLT icon
9
iShares 20+ Year Treasury Bond ETF
TLT
$40.6B
$225M 3.76%
1,561,218
-437,857
-22% -$65M
QVMM
10
Invesco QQQ Trust Series 1
QVMM
$443M
$196M 3.28%
8,042,641
+23,395
+0.3% +$585K
EMHC icon
11
State Street SPDR Bloomberg Emerging Markets USD Bond ETF
EMHC
$290M
$178M 2.98%
5,908,448
+56,283
+1% +$1.73M
EBND icon
12
State Street SPDR Bloomberg Emerging Markets Local Bond ETF
EBND
$2.27B
$128M 2.14%
5,056,479
-917,145
-15% -$23.8M
VGSH icon
13
Vanguard Short-Term Treasury ETF
VGSH
$30.2B
$110M 1.84%
+1,790,364
New +$110M
MBB icon
14
iShares MBS ETF
MBB
$39B
$73M 1.22%
674,662
– –
GATO
15
DELISTED
Gatos Silver, Inc.
GATO
$72.2M 1.21%
6,205,259
– –
PICK icon
16
iShares MSCI Global Metals & Mining Producers ETF
PICK
$2.33B
$65.7M 1.1%
1,611,938
– –
RING icon
17
iShares MSCI Global Gold Miners ETF
RING
$2.48B
$60.8M 1.02%
2,472,074
– –
LEMB icon
18
iShares JPMorgan EM Local Currency Bond ETF
LEMB
$722M
$50.2M 0.84%
1,185,958
– –
QVMS
19
Invesco S&P SmallCap 600 QVM Multi-factor ETF
QVMS
$258M
$49M 0.82%
2,013,462
+7,042
+0.4% +$172K
STIP icon
20
iShares 0-5 Year TIPS Bond ETF
STIP
$15.9B
$35.3M 0.59%
334,096
– –
IJR icon
21
iShares Core S&P Small-Cap ETF
IJR
$112B
$28M 0.47%
256,113
+1,150
+0.5% +$127K
XLE icon
22
State Street Energy Select Sector SPDR ETF
XLE
$39.9B
$20.1M 0.34%
772,596
– –
HYBB icon
23
iShares BB Rated Corporate Bond ETF
HYBB
$428M
$12.8M 0.21%
244,328
-318,590
-57% -$16.7M
SPIB icon
24
State Street SPDR Portfolio Intermediate Term Corporate Bond ETF
SPIB
$11.5B
$6.48M 0.11%
177,379
– –
SPSB icon
25
State Street SPDR Portfolio Short Term Corporate Bond ETF
SPSB
$10.8B
$6.41M 0.11%
205,085
– –
1
2

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VAS
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SFM
Soros Fund Management New York $9.12B AUM 30.69% 1-Year Est. Return
AI
Ariel Investments Chicago, Illinois $8.93B AUM 29.58% 1-Year Est. Return
HI
Horizon Investments Charlotte, North Carolina $8.92B AUM 25.62% 1-Year Est. Return
PEA
Platinum Equity Advisors Beverly Hills, California $8.88B AUM 27.09% 1-Year Est. Return
SUT
SC US (TTGP) Menlo Park, California $9.25B AUM 20.49% 1-Year Est. Return
MU
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WPL
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Municipal Employees' Retirement System of Michigan's Q3 2021 Portfolio in Review

As of Q3 2021, Municipal Employees' Retirement System of Michigan held 30 positions worth $5.99B, down 19% from $7.38B the previous quarter. Its ten largest holdings account for 85% of the portfolio.

Municipal Employees' Retirement System of Michigan withdrew a net $1.34B in Q3 2021, closing 3 positions and reducing 9 holdings. Its most notable exit was iShares 7-10 Year Treasury Bond ETF, an estimated $128M position sold in full.

By sector, the portfolio is most concentrated in Materials at 1.2% of assets, down from 1.5% a quarter earlier, followed by Consumer Discretionary.

Against the trend, Municipal Employees' Retirement System of Michigan opened a new position in Vanguard Short-Term Treasury ETF worth $110M.

  • Municipal Employees' Retirement System of Michigan's largest Q3 2021 buy was Vanguard Short-Term Treasury ETF: 1,790,364 shares worth $110M.
  • Municipal Employees' Retirement System of Michigan added most to iShares Core MSCI Emerging Markets ETF in Q3 2021, an estimated $233M increase.
  • Municipal Employees' Retirement System of Michigan's biggest Q3 2021 reduction was iShares Core S&P 500 ETF, cutting an estimated $942M.
  • Municipal Employees' Retirement System of Michigan fully exited iShares 7-10 Year Treasury Bond ETF in Q3 2021, selling an estimated $128M.
  • Municipal Employees' Retirement System of Michigan's ten largest holdings make up 85% of its $5.99B portfolio in Q3 2021.
  • Municipal Employees' Retirement System of Michigan opened 1 new position and closed 3 in Q3 2021.
  • Municipal Employees' Retirement System of Michigan's portfolio value fell 19% quarter-over-quarter to $5.99B.

Based on Municipal Employees' Retirement System of Michigan's 13F filing for Q3 2021, filed 28 Oct 2021.