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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
+2.03%
1 Year Est. Return
+13.04%
3 Year Est. Return
+34.61%
5 Year Est. Return
+23.86%
10 Year Est. Return
–
AUM
$7.01B
AUM Growth
+$528M
Cap. Flow
+$404M
Cap. Flow %
5.77%
Top 10 Hldgs %
63.62%
Holding
52
New
3
Increased
12
Reduced
6
Closed
1

Top Buys

Rank Stock Value
1
TUA icon
Simplify Short Term Treasury Futures Strategy ETF
TUA
+$351M
2
XONE icon
BondBloxx Bloomberg One Year Target Duration US Treasury ETF
XONE
+$163M
3
BBEU icon
JPMorgan BetaBuilders Europe ETF
BBEU
+$102M
4
XHLF icon
BondBloxx Bloomberg Six Month Target Duration US Treasury ETF
XHLF
+$52M
5
VGLT icon
Vanguard Long-Term Treasury ETF
VGLT
+$34.2M

Top Sells

Rank Stock Value
1
SPTI icon
State Street SPDR Portfolio Intermediate Term Treasury ETF
SPTI
+$233M
2
TLT icon
iShares 20+ Year Treasury Bond ETF
TLT
+$91.7M
3
XLE icon
State Street Energy Select Sector SPDR ETF
XLE
+$7.5M
4
SPTS icon
State Street SPDR Portfolio Short Term Treasury ETF
SPTS
+$6.3M
5
SGOV icon
iShares 0-3 Month Treasury Bond ETF
SGOV
+$2.21M

Sector Composition

Rank Sector Weight
1 Materials 0.33%
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
$1.27B 18.05%
2,839,808
– –
QVML icon
2
Invesco S&P 500 QVM Multi-factor ETF
QVML
$1.53B
$938M 13.38%
36,124,001
– –
IEMG icon
3
iShares Core MSCI Emerging Markets ETF
IEMG
$158B
$414M 5.9%
8,390,863
+510,516
+6% +$24.9M
IPAC icon
4
iShares Core MSCI Pacific ETF
IPAC
$2.78B
$332M 4.73%
5,780,351
– –
TUA icon
5
Simplify Short Term Treasury Futures Strategy ETF
TUA
$659M
$324M 4.62%
+14,296,810
New +$351M
QVMM
6
Invesco QQQ Trust Series 1
QVMM
$443M
$261M 3.72%
10,848,386
– –
VGSH icon
7
Vanguard Short-Term Treasury ETF
VGSH
$30.2B
$257M 3.66%
4,445,252
+103,464
+2% +$6.02M
IJH icon
8
iShares Core S&P Mid-Cap ETF
IJH
$128B
$234M 3.33%
4,470,810
– –
XONE icon
9
BondBloxx Bloomberg One Year Target Duration US Treasury ETF
XONE
$844M
$224M 3.19%
4,502,743
+3,280,321
+268% +$163M
SPTS icon
10
State Street SPDR Portfolio Short Term Treasury ETF
SPTS
$6.11B
$213M 3.04%
7,401,880
-216,733
-3% -$6.3M
EMB icon
11
iShares JPMorgan USD Emerging Markets Bond ETF
EMB
$14.9B
$202M 2.88%
2,331,985
– –
VGIT icon
12
Vanguard Intermediate-Term Treasury ETF
VGIT
$42.4B
$199M 2.84%
3,390,733
– –
QVMS
13
Invesco S&P SmallCap 600 QVM Multi-factor ETF
QVMS
$258M
$198M 2.82%
8,595,731
– –
XEMD icon
14
BondBloxx JPMorgan USD Emerging Markets 1-10 Year Bond ETF
XEMD
$844M
$180M 2.56%
4,504,991
– –
VGK icon
15
Vanguard FTSE Europe ETF
VGK
$31B
$178M 2.54%
2,890,092
– –
EMHC icon
16
State Street SPDR Bloomberg Emerging Markets USD Bond ETF
EMHC
$290M
$173M 2.47%
7,289,501
+19,228
+0.3% +$454K
SPHY icon
17
State Street SPDR Portfolio High Yield Bond ETF
SPHY
$12B
$153M 2.18%
6,696,428
– –
ISVL icon
18
iShares International Developed Small Cap Value Factor ETF
ISVL
$332M
$145M 2.07%
4,592,859
– –
EWJV icon
19
iShares MSCI Japan Value ETF
EWJV
$754M
$128M 1.83%
4,695,633
– –
PICK icon
20
iShares MSCI Global Metals & Mining Producers ETF
PICK
$2.33B
$107M 1.53%
2,646,715
+153,390
+6% +$6.26M
BBEU icon
21
JPMorgan BetaBuilders Europe ETF
BBEU
$9.52B
$101M 1.45%
+1,873,009
New +$102M
XHLF icon
22
BondBloxx Bloomberg Six Month Target Duration US Treasury ETF
XHLF
$1.99B
$86.1M 1.23%
1,714,155
+1,035,856
+153% +$52M
FLCA icon
23
Franklin FTSE Canada ETF
FLCA
$860M
$83M 1.18%
2,627,161
– –
RING icon
24
iShares MSCI Global Gold Miners ETF
RING
$2.48B
$75.8M 1.08%
3,254,337
+65,648
+2% +$1.66M
BBAX icon
25
JPMorgan BetaBuilders Developed Asia Pacific-ex Japan ETF
BBAX
$6.8B
$62.7M 0.89%
1,310,599
– –
1
2 3

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VAS
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SFM
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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
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SUT
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MU
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WPL
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Municipal Employees' Retirement System of Michigan's Q2 2023 Portfolio in Review

As of Q2 2023, Municipal Employees' Retirement System of Michigan held 52 positions worth $7.01B, up 8.1% from $6.49B the previous quarter. Its ten largest holdings account for 64% of the portfolio.

Municipal Employees' Retirement System of Michigan deployed $404M of net new capital in Q2 2023, opening 3 new positions and adding to 12 existing holdings. Its largest new stake was Simplify Short Term Treasury Futures Strategy ETF: 14,296,810 shares worth $324M.

By sector, the portfolio is most concentrated in Materials at 0.33% of assets, down from 0.62% a quarter earlier, followed by Consumer Discretionary.

On the sell side, the largest reduction was State Street SPDR Portfolio Intermediate Term Treasury ETF, an estimated $233M trimmed.

  • Municipal Employees' Retirement System of Michigan's largest Q2 2023 buy was Simplify Short Term Treasury Futures Strategy ETF: 14,296,810 shares worth $324M.
  • Municipal Employees' Retirement System of Michigan added most to BondBloxx Bloomberg One Year Target Duration US Treasury ETF in Q2 2023, an estimated $163M increase.
  • Municipal Employees' Retirement System of Michigan's biggest Q2 2023 reduction was State Street SPDR Portfolio Intermediate Term Treasury ETF, cutting an estimated $233M.
  • Municipal Employees' Retirement System of Michigan fully exited iShares 0-3 Month Treasury Bond ETF in Q2 2023, selling an estimated $2.21M.
  • Municipal Employees' Retirement System of Michigan's ten largest holdings make up 64% of its $7.01B portfolio in Q2 2023.
  • Municipal Employees' Retirement System of Michigan opened 3 new positions and closed 1 in Q2 2023.
  • Municipal Employees' Retirement System of Michigan's portfolio value rose 8.1% quarter-over-quarter to $7.01B.

Based on Municipal Employees' Retirement System of Michigan's 13F filing for Q2 2023, filed 3 Aug 2023.