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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
+0.47%
1 Year Est. Return
+13.04%
3 Year Est. Return
+34.61%
5 Year Est. Return
+23.86%
10 Year Est. Return
–
AUM
$7.21B
AUM Growth
-$553M
Cap. Flow
-$578M
Cap. Flow %
-8.01%
Top 10 Hldgs %
67.97%
Holding
51
New
6
Increased
11
Reduced
12
Closed
2

Top Buys

Rank Stock Value
1
IPAC icon
iShares Core MSCI Pacific ETF
IPAC
+$106M
2
MTBA icon
Simplify MBS ETF
MTBA
+$60.4M
3
VGK icon
Vanguard FTSE Europe ETF
VGK
+$57.8M
4
SPTL icon
State Street SPDR Portfolio Long Term Treasury ETF
SPTL
+$30.8M
5
PICK icon
iShares MSCI Global Metals & Mining Producers ETF
PICK
+$12.6M

Top Sells

Rank Stock Value
1
IVV icon
iShares Core S&P 500 ETF
IVV
+$237M
2
IEMG icon
iShares Core MSCI Emerging Markets ETF
IEMG
+$166M
3
EWJV icon
iShares MSCI Japan Value ETF
EWJV
+$101M
4
MBB icon
iShares MBS ETF
MBB
+$90.3M
5
IJH icon
iShares Core S&P Mid-Cap ETF
IJH
+$55.3M

Sector Composition

Rank Sector Weight
1 Materials 0.9%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
QVML icon
1
Invesco S&P 500 QVM Multi-factor ETF
QVML
$1.53B
$981M 13.6%
30,288,556
– –
IVV icon
2
iShares Core S&P 500 ETF
IVV
$904B
$806M 11.18%
1,473,408
-451,456
-23% -$237M
SPTI icon
3
State Street SPDR Portfolio Intermediate Term Treasury ETF
SPTI
$10.6B
$740M 10.27%
26,424,332
– –
SPTS icon
4
State Street SPDR Portfolio Short Term Treasury ETF
SPTS
$6.11B
$626M 8.69%
21,697,170
– –
IPAC icon
5
iShares Core MSCI Pacific ETF
IPAC
$2.78B
$392M 5.44%
6,404,807
+1,721,117
+37% +$106M
SPTL icon
6
State Street SPDR Portfolio Long Term Treasury ETF
SPTL
$10.7B
$347M 4.82%
12,764,462
+1,141,987
+10% +$30.8M
QVMM
7
Invesco QQQ Trust Series 1
QVMM
$443M
$294M 4.07%
10,848,386
– –
IEMG icon
8
iShares Core MSCI Emerging Markets ETF
IEMG
$158B
$256M 3.54%
4,773,111
-3,151,704
-40% -$166M
VGK icon
9
Vanguard FTSE Europe ETF
VGK
$31B
$250M 3.47%
3,742,619
+852,527
+29% +$57.8M
VGSH icon
10
Vanguard Short-Term Treasury ETF
VGSH
$30.2B
$208M 2.89%
3,590,033
-749,172
-17% -$43.3M
VGIT icon
11
Vanguard Intermediate-Term Treasury ETF
VGIT
$42.4B
$197M 2.74%
3,390,733
– –
EMHC icon
12
State Street SPDR Bloomberg Emerging Markets USD Bond ETF
EMHC
$290M
$192M 2.66%
8,069,786
-2,106,883
-21% -$50.2M
XEMD icon
13
BondBloxx JPMorgan USD Emerging Markets 1-10 Year Bond ETF
XEMD
$844M
$188M 2.61%
4,573,077
+68,086
+2% +$2.8M
QVMS
14
Invesco S&P SmallCap 600 QVM Multi-factor ETF
QVMS
$258M
$176M 2.45%
7,092,740
-1,502,991
-17% -$37.5M
ISVL icon
15
iShares International Developed Small Cap Value Factor ETF
ISVL
$332M
$160M 2.23%
4,592,859
– –
BBEU icon
16
JPMorgan BetaBuilders Europe ETF
BBEU
$9.52B
$159M 2.2%
2,697,749
– –
EMB icon
17
iShares JPMorgan USD Emerging Markets Bond ETF
EMB
$14.9B
$137M 1.9%
1,547,548
-556,916
-26% -$49.4M
PICK icon
18
iShares MSCI Global Metals & Mining Producers ETF
PICK
$2.33B
$119M 1.65%
2,917,473
+293,978
+11% +$12.6M
XONE icon
19
BondBloxx Bloomberg One Year Target Duration US Treasury ETF
XONE
$844M
$118M 1.64%
2,387,980
– –
IJH icon
20
iShares Core S&P Mid-Cap ETF
IJH
$128B
$117M 1.63%
2,005,370
-941,196
-32% -$55.3M
RING icon
21
iShares MSCI Global Gold Miners ETF
RING
$2.48B
$109M 1.51%
3,955,383
+83,047
+2% +$2.28M
FLCA icon
22
Franklin FTSE Canada ETF
FLCA
$860M
$91.9M 1.27%
2,743,853
-247,164
-8% -$8.42M
GATO
23
DELISTED
Gatos Silver, Inc.
GATO
$64.8M 0.9%
6,205,259
– –
MTBA icon
24
Simplify MBS ETF
MTBA
$1.49B
$60.4M 0.84%
+1,198,715
New +$60.4M
VGLT icon
25
Vanguard Long-Term Treasury ETF
VGLT
$10.3B
$48.1M 0.67%
833,859
+11,240
+1% +$643K
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
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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 2024 Portfolio in Review

As of Q2 2024, Municipal Employees' Retirement System of Michigan held 51 positions worth $7.21B, down 7.1% from $7.76B the previous quarter. Its ten largest holdings account for 68% of the portfolio.

Municipal Employees' Retirement System of Michigan withdrew a net $578M in Q2 2024, closing 2 positions and reducing 12 holdings. Its most notable exit was iShares MSCI Japan Value ETF, an estimated $101M position sold in full.

By sector, the portfolio is most concentrated in Materials at 0.9% of assets, up from 0.67% a quarter earlier.

Against the trend, Municipal Employees' Retirement System of Michigan opened a new position in Simplify MBS ETF worth $60.4M.

  • Municipal Employees' Retirement System of Michigan's largest Q2 2024 buy was Simplify MBS ETF: 1,198,715 shares worth $60.4M.
  • Municipal Employees' Retirement System of Michigan added most to iShares Core MSCI Pacific ETF in Q2 2024, an estimated $106M increase.
  • Municipal Employees' Retirement System of Michigan's biggest Q2 2024 reduction was iShares Core S&P 500 ETF, cutting an estimated $237M.
  • Municipal Employees' Retirement System of Michigan fully exited iShares MSCI Japan Value ETF in Q2 2024, selling an estimated $101M.
  • Municipal Employees' Retirement System of Michigan's ten largest holdings make up 68% of its $7.21B portfolio in Q2 2024.
  • Municipal Employees' Retirement System of Michigan opened 6 new positions and closed 2 in Q2 2024.
  • Municipal Employees' Retirement System of Michigan's portfolio value fell 7.1% quarter-over-quarter to $7.21B.

Based on Municipal Employees' Retirement System of Michigan's 13F filing for Q2 2024, filed 5 Aug 2024.