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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
+8.22%
1 Year Est. Return
+13.04%
3 Year Est. Return
+34.61%
5 Year Est. Return
+23.86%
10 Year Est. Return
–
AUM
$7.48B
AUM Growth
+$287M
Cap. Flow
-$275M
Cap. Flow %
-3.68%
Top 10 Hldgs %
61.23%
Holding
49
New
–
Increased
6
Reduced
7
Closed
3

Top Buys

Rank Stock Value
1
RING icon
iShares MSCI Global Gold Miners ETF
RING
+$12M
2
SPTL icon
State Street SPDR Portfolio Long Term Treasury ETF
SPTL
+$6.01M
3
PICK icon
iShares MSCI Global Metals & Mining Producers ETF
PICK
+$4.47M
4
EMB icon
iShares JPMorgan USD Emerging Markets Bond ETF
EMB
+$2.64M
5
IJH icon
iShares Core S&P Mid-Cap ETF
IJH
+$1.68M

Top Sells

Rank Stock Value
1
IVV icon
iShares Core S&P 500 ETF
IVV
+$166M
2
SPHY icon
State Street SPDR Portfolio High Yield Bond ETF
SPHY
+$64.9M
3
IEMG icon
iShares Core MSCI Emerging Markets ETF
IEMG
+$24.5M
4
TLT icon
iShares 20+ Year Treasury Bond ETF
TLT
+$20.6M
5
VGSH icon
Vanguard Short-Term Treasury ETF
VGSH
+$12.2M

Sector Composition

Rank Sector Weight
1 Materials 0.54%
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
$1.29B 17.26%
2,704,335
-370,671
-12% -$166M
QVML icon
2
Invesco S&P 500 QVM Multi-factor ETF
QVML
$1.53B
$891M 11.91%
32,080,028
– –
IEMG icon
3
iShares Core MSCI Emerging Markets ETF
IEMG
$158B
$399M 5.33%
7,884,428
-506,435
-6% -$24.5M
TUA icon
4
Simplify Short Term Treasury Futures Strategy ETF
TUA
$659M
$383M 5.12%
16,534,947
– –
SPTS icon
5
State Street SPDR Portfolio Short Term Treasury ETF
SPTS
$6.11B
$382M 5.11%
13,165,219
-19
-0% -$547
QVMM
6
Invesco QQQ Trust Series 1
QVMM
$443M
$278M 3.71%
10,848,386
– –
IPAC icon
7
iShares Core MSCI Pacific ETF
IPAC
$2.78B
$266M 3.56%
4,476,690
– –
VGSH icon
8
Vanguard Short-Term Treasury ETF
VGSH
$30.2B
$251M 3.35%
4,303,210
-211,558
-5% -$12.2M
XONE icon
9
BondBloxx Bloomberg One Year Target Duration US Treasury ETF
XONE
$844M
$224M 3%
4,502,743
– –
QVMS
10
Invesco S&P SmallCap 600 QVM Multi-factor ETF
QVMS
$258M
$216M 2.88%
8,595,731
– –
IJH icon
11
iShares Core S&P Mid-Cap ETF
IJH
$128B
$209M 2.79%
3,763,855
+33,090
+0.9% +$1.68M
SPTL icon
12
State Street SPDR Portfolio Long Term Treasury ETF
SPTL
$10.7B
$206M 2.76%
7,108,855
+225,690
+3% +$6.01M
VGIT icon
13
Vanguard Intermediate-Term Treasury ETF
VGIT
$42.4B
$201M 2.69%
3,390,733
– –
EMB icon
14
iShares JPMorgan USD Emerging Markets Bond ETF
EMB
$14.9B
$187M 2.51%
2,104,464
+31,327
+2% +$2.64M
VGK icon
15
Vanguard FTSE Europe ETF
VGK
$31B
$186M 2.49%
2,890,092
– –
XEMD icon
16
BondBloxx JPMorgan USD Emerging Markets 1-10 Year Bond ETF
XEMD
$844M
$184M 2.46%
4,504,991
– –
EMHC icon
17
State Street SPDR Bloomberg Emerging Markets USD Bond ETF
EMHC
$290M
$177M 2.36%
7,262,948
– –
SPTI icon
18
State Street SPDR Portfolio Intermediate Term Treasury ETF
SPTI
$10.6B
$171M 2.28%
5,977,627
– –
ISVL icon
19
iShares International Developed Small Cap Value Factor ETF
ISVL
$332M
$156M 2.09%
4,592,859
– –
BBEU icon
20
JPMorgan BetaBuilders Europe ETF
BBEU
$9.52B
$128M 1.72%
2,267,719
– –
PICK icon
21
iShares MSCI Global Metals & Mining Producers ETF
PICK
$2.33B
$116M 1.55%
2,684,093
+112,359
+4% +$4.47M
MBB icon
22
iShares MBS ETF
MBB
$39B
$102M 1.36%
1,082,379
– –
RING icon
23
iShares MSCI Global Gold Miners ETF
RING
$2.48B
$99.3M 1.33%
4,039,285
+523,168
+15% +$12M
EWJV icon
24
iShares MSCI Japan Value ETF
EWJV
$754M
$88.9M 1.19%
3,046,678
– –
FLCA icon
25
Franklin FTSE Canada ETF
FLCA
$860M
$87.3M 1.17%
2,627,161
– –
1
2

Similar funds

VAS
Vestmark Advisory Solutions Wakefield, Massachusetts $9.02B AUM 20.58% 1-Year Est. Return
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
Mirova US Boston, Massachusetts $8.81B AUM 21.38% 1-Year Est. Return
WPL
WINDACRE PARTNERSHIP LLC Houston, Texas $9.34B AUM 17.41% 1-Year Est. Return

Municipal Employees' Retirement System of Michigan's Q4 2023 Portfolio in Review

As of Q4 2023, Municipal Employees' Retirement System of Michigan held 49 positions worth $7.48B, up 4% from $7.2B the previous quarter. Its ten largest holdings account for 61% of the portfolio.

Municipal Employees' Retirement System of Michigan withdrew a net $275M in Q4 2023, closing 3 positions and reducing 7 holdings. Its most notable exit was iShares 20+ Year Treasury Bond ETF, an estimated $20.6M position sold in full.

By sector, the portfolio is most concentrated in Materials at 0.54% of assets, up from 0.45% a quarter earlier, followed by Consumer Discretionary.

Against the trend, Municipal Employees' Retirement System of Michigan added an estimated $12M to iShares MSCI Global Gold Miners ETF.

  • Municipal Employees' Retirement System of Michigan added most to iShares MSCI Global Gold Miners ETF in Q4 2023, an estimated $12M increase.
  • Municipal Employees' Retirement System of Michigan's biggest Q4 2023 reduction was iShares Core S&P 500 ETF, cutting an estimated $166M.
  • Municipal Employees' Retirement System of Michigan fully exited iShares 20+ Year Treasury Bond ETF in Q4 2023, selling an estimated $20.6M.
  • Municipal Employees' Retirement System of Michigan's ten largest holdings make up 61% of its $7.48B portfolio in Q4 2023.
  • Municipal Employees' Retirement System of Michigan opened 0 new positions and closed 3 in Q4 2023.
  • Municipal Employees' Retirement System of Michigan's portfolio value rose 4% quarter-over-quarter to $7.48B.

Based on Municipal Employees' Retirement System of Michigan's 13F filing for Q4 2023, filed 5 Feb 2024.