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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
+4.69%
1 Year Est. Return
+13.04%
3 Year Est. Return
+34.61%
5 Year Est. Return
+23.86%
10 Year Est. Return
–
AUM
$6.49B
AUM Growth
+$291M
Cap. Flow
+$5.31M
Cap. Flow %
0.08%
Top 10 Hldgs %
63.92%
Holding
51
New
5
Increased
17
Reduced
13
Closed
2

Top Buys

Rank Stock Value
1
SPHY icon
State Street SPDR Portfolio High Yield Bond ETF
SPHY
+$153M
2
IVV icon
iShares Core S&P 500 ETF
IVV
+$147M
3
VGSH icon
Vanguard Short-Term Treasury ETF
VGSH
+$139M
4
QVML icon
Invesco S&P 500 QVM Multi-factor ETF
QVML
+$121M
5
EWJV icon
iShares MSCI Japan Value ETF
EWJV
+$119M

Top Sells

Rank Stock Value
1
IPAC icon
iShares Core MSCI Pacific ETF
IPAC
+$388M
2
IEMG icon
iShares Core MSCI Emerging Markets ETF
IEMG
+$153M
3
VGK icon
Vanguard FTSE Europe ETF
VGK
+$95.3M
4
EMB icon
iShares JPMorgan USD Emerging Markets Bond ETF
EMB
+$89.2M
5
SPTS icon
State Street SPDR Portfolio Short Term Treasury ETF
SPTS
+$83.6M

Sector Composition

Rank Sector Weight
1 Materials 0.62%
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
$1.17B 18%
2,839,808
+367,420
+15% +$147M
QVML icon
2
Invesco S&P 500 QVM Multi-factor ETF
QVML
$1.53B
$879M 13.55%
36,124,001
+5,060,000
+16% +$121M
IEMG icon
3
iShares Core MSCI Emerging Markets ETF
IEMG
$158B
$384M 5.93%
7,880,347
-3,124,686
-28% -$153M
IPAC icon
4
iShares Core MSCI Pacific ETF
IPAC
$2.78B
$327M 5.04%
5,780,351
-6,951,796
-55% -$388M
VGSH icon
5
Vanguard Short-Term Treasury ETF
VGSH
$30.2B
$254M 3.92%
4,341,788
+2,395,024
+123% +$139M
QVMM
6
Invesco QQQ Trust Series 1
QVMM
$443M
$251M 3.87%
10,848,386
– –
SPTI icon
7
State Street SPDR Portfolio Intermediate Term Treasury ETF
SPTI
$10.6B
$234M 3.61%
8,082,671
-2,417,126
-23% -$69.1M
IJH icon
8
iShares Core S&P Mid-Cap ETF
IJH
$128B
$224M 3.45%
4,470,810
– –
SPTS icon
9
State Street SPDR Portfolio Short Term Treasury ETF
SPTS
$6.11B
$223M 3.43%
7,618,613
-2,881,409
-27% -$83.6M
VGIT icon
10
Vanguard Intermediate-Term Treasury ETF
VGIT
$42.4B
$203M 3.13%
3,390,733
– –
EMB icon
11
iShares JPMorgan USD Emerging Markets Bond ETF
EMB
$14.9B
$201M 3.1%
2,331,985
-1,034,482
-31% -$89.2M
QVMS
12
Invesco S&P SmallCap 600 QVM Multi-factor ETF
QVMS
$258M
$191M 2.95%
8,595,731
+4,157,000
+94% +$95.6M
XEMD icon
13
BondBloxx JPMorgan USD Emerging Markets 1-10 Year Bond ETF
XEMD
$844M
$179M 2.76%
4,504,991
+101,368
+2% +$4.04M
VGK icon
14
Vanguard FTSE Europe ETF
VGK
$31B
$176M 2.72%
2,890,092
-1,594,503
-36% -$95.3M
EMHC icon
15
State Street SPDR Bloomberg Emerging Markets USD Bond ETF
EMHC
$290M
$173M 2.67%
7,270,273
+2,908,747
+67% +$69M
SPHY icon
16
State Street SPDR Portfolio High Yield Bond ETF
SPHY
$12B
$154M 2.37%
+6,696,428
New +$153M
ISVL icon
17
iShares International Developed Small Cap Value Factor ETF
ISVL
$332M
$146M 2.25%
4,592,859
– –
EWJV icon
18
iShares MSCI Japan Value ETF
EWJV
$754M
$121M 1.86%
+4,695,633
New +$119M
TLT icon
19
iShares 20+ Year Treasury Bond ETF
TLT
$40.6B
$119M 1.83%
1,116,636
-113,949
-9% -$11.9M
PICK icon
20
iShares MSCI Global Metals & Mining Producers ETF
PICK
$2.33B
$107M 1.64%
2,493,325
+228,219
+10% +$9.96M
FLCA icon
21
Franklin FTSE Canada ETF
FLCA
$860M
$80.8M 1.25%
2,627,161
-335,035
-11% -$10.4M
RING icon
22
iShares MSCI Global Gold Miners ETF
RING
$2.48B
$80.3M 1.24%
3,188,689
+313,175
+11% +$7.4M
BBAX icon
23
JPMorgan BetaBuilders Developed Asia Pacific-ex Japan ETF
BBAX
$6.8B
$64.4M 0.99%
+1,310,599
New +$66.4M
XONE icon
24
BondBloxx Bloomberg One Year Target Duration US Treasury ETF
XONE
$844M
$61.2M 0.94%
1,222,422
+521,774
+74% +$26M
XTWO icon
25
BondBloxx Bloomberg Two Year Target Duration US Treasury ETF
XTWO
$210M
$57.1M 0.88%
1,144,713
+442,299
+63% +$21.9M
1
2 3

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SFM
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AI
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Municipal Employees' Retirement System of Michigan's Q1 2023 Portfolio in Review

As of Q1 2023, Municipal Employees' Retirement System of Michigan held 51 positions worth $6.49B, up 4.7% from $6.19B the previous quarter. Its ten largest holdings account for 64% of the portfolio.

Municipal Employees' Retirement System of Michigan's Q1 2023 filing shows 5 new, 17 increased, 13 reduced and 2 closed positions. Its largest new stake was State Street SPDR Portfolio High Yield Bond ETF: 6,696,428 shares worth $154M. The largest sale was iShares Core MSCI Pacific ETF, an estimated $388M.

By sector, the portfolio is most concentrated in Materials at 0.62% of assets, up from 0.41% a quarter earlier, followed by Consumer Discretionary.

  • Municipal Employees' Retirement System of Michigan's largest Q1 2023 buy was State Street SPDR Portfolio High Yield Bond ETF: 6,696,428 shares worth $154M.
  • Municipal Employees' Retirement System of Michigan added most to iShares Core S&P 500 ETF in Q1 2023, an estimated $147M increase.
  • Municipal Employees' Retirement System of Michigan's biggest Q1 2023 reduction was iShares Core MSCI Pacific ETF, cutting an estimated $388M.
  • Municipal Employees' Retirement System of Michigan fully exited State Street SPDR Bloomberg Emerging Markets Local Bond ETF in Q1 2023, selling an estimated $66.3M.
  • Municipal Employees' Retirement System of Michigan's ten largest holdings make up 64% of its $6.49B portfolio in Q1 2023.
  • Municipal Employees' Retirement System of Michigan opened 5 new positions and closed 2 in Q1 2023.
  • Municipal Employees' Retirement System of Michigan's portfolio value rose 4.7% quarter-over-quarter to $6.49B.

Based on Municipal Employees' Retirement System of Michigan's 13F filing for Q1 2023, filed 4 May 2023.