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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
-18.78%
1 Year Est. Return
+13.04%
3 Year Est. Return
+34.61%
5 Year Est. Return
+23.86%
10 Year Est. Return
–
AUM
$3.16B
AUM Growth
+$69.9M
Cap. Flow
+$797M
Cap. Flow %
25.22%
Top 10 Hldgs %
62.93%
Holding
1,690
New
25
Increased
642
Reduced
33
Closed
92

Top Buys

Rank Stock Value
1
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$381M
2
HYG icon
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
+$374M
3
IEUR icon
iShares Core MSCI Europe ETF
IEUR
+$212M
4
IEMG icon
iShares Core MSCI Emerging Markets ETF
IEMG
+$201M
5
JNK icon
State Street SPDR Bloomberg High Yield Bond ETF
JNK
+$180M

Top Sells

Rank Stock Value
1
SPTI icon
State Street SPDR Portfolio Intermediate Term Treasury ETF
SPTI
+$226M
2
SPTS icon
State Street SPDR Portfolio Short Term Treasury ETF
SPTS
+$67.4M
3
SPTL icon
State Street SPDR Portfolio Long Term Treasury ETF
SPTL
+$66.1M
4
VGIT icon
Vanguard Intermediate-Term Treasury ETF
VGIT
+$59.5M
5
FLRN icon
State Street SPDR Bloomberg Investment Grade Floating Rate ETF
FLRN
+$45.1M

Sector Composition

Rank Sector Weight
1 Technology 5.71%
2 Financials 5.31%
3 Industrials 4.28%
4 Healthcare 4.21%
5 Consumer Discretionary 3.23%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
OPY icon
401
Oppenheimer Holdings
OPY
$1.23B
$693K 0.02%
35,070
– –
HIW icon
402
Highwoods Properties
HIW
$3.5B
$690K 0.02%
19,470
+230
+1% +$10.5K
LOPE icon
403
Grand Canyon Education
LOPE
$3.8B
$690K 0.02%
+9,050
New +$745K
HMSY
404
DELISTED
HMS Holdings Corp.
HMSY
$690K 0.02%
27,290
+560
+2% +$14.6K
CKH
405
DELISTED
Seacor Holdings Inc.
CKH
$689K 0.02%
25,550
+140
+0.6% +$5.05K
PRI icon
406
Primerica
PRI
$9.64B
$687K 0.02%
7,770
– –
SAIC icon
407
Saic
SAIC
$5.35B
$687K 0.02%
9,210
+110
+1% +$9.18K
INDB icon
408
Independent Bank
INDB
$4.05B
$686K 0.02%
10,650
+130
+1% +$9.29K
EV
409
DELISTED
Eaton Vance Corp.
EV
$685K 0.02%
21,230
+260
+1% +$11K
FFIN icon
410
First Financial Bankshares
FFIN
$5.04B
$684K 0.02%
25,490
+300
+1% +$9.39K
AZTA icon
411
Azenta
AZTA
$1.48B
$683K 0.02%
22,400
+300
+1% +$10.9K
SPWH icon
412
Sportsman's Warehouse
SPWH
$47.6M
$683K 0.02%
110,950
– –
CHDN icon
413
Churchill Downs
CHDN
$6.2B
$680K 0.02%
13,220
– –
IP icon
414
International Paper
IP
$21.8B
$678K 0.02%
22,979
– –
DAL icon
415
Delta Air Lines
DAL
$60.1B
$677K 0.02%
23,710
– –
EXPE icon
416
Expedia Group
EXPE
$39.5B
$677K 0.02%
12,030
– –
MSA icon
417
Mine Safety
MSA
$7.31B
$677K 0.02%
6,690
+80
+1% +$10.1K
NOC icon
418
Northrop Grumman
NOC
$81.6B
$675K 0.02%
2,230
– –
HQY icon
419
HealthEquity
HQY
$8.8B
$673K 0.02%
13,300
+200
+2% +$13.3K
IRDM icon
420
Iridium Communications
IRDM
$5.29B
$671K 0.02%
30,050
+420
+1% +$10.9K
EA
421
DELISTED
Electronic Arts
EA
$670K 0.02%
6,690
– –
KNSL icon
422
Kinsale Capital Group
KNSL
$8.6B
$667K 0.02%
6,380
+90
+1% +$10.1K
MU icon
423
Micron Technology
MU
$1.08T
$667K 0.02%
15,870
+230
+1% +$12K
CDW icon
424
CDW
CDW
$17.6B
$666K 0.02%
7,140
– –
THG icon
425
Hanover Insurance
THG
$7.76B
$665K 0.02%
7,340
– –
15 16
17
18 19

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 Q1 2020 Portfolio in Review

As of Q1 2020, Municipal Employees' Retirement System of Michigan held 1,690 positions worth $3.16B, up 2.3% from $3.09B the previous quarter. Its ten largest holdings account for 63% of the portfolio.

Municipal Employees' Retirement System of Michigan deployed $797M of net new capital in Q1 2020, opening 25 new positions and adding to 642 existing holdings. Its largest new stake was State Street SPDR S&P 500 ETF Trust: 1,250,193 shares worth $322M.

By sector, the portfolio is most concentrated in Technology at 5.7% of assets, down from 7.4% a quarter earlier, followed by Financials and Industrials.

On the sell side, the largest reduction was State Street SPDR Portfolio Short Term Treasury ETF, an estimated $67.4M trimmed.

  • Municipal Employees' Retirement System of Michigan's largest Q1 2020 buy was State Street SPDR S&P 500 ETF Trust: 1,250,193 shares worth $322M.
  • Municipal Employees' Retirement System of Michigan added most to iShares Core S&P 500 ETF in Q1 2020, an estimated $168M increase.
  • Municipal Employees' Retirement System of Michigan's biggest Q1 2020 reduction was State Street SPDR Portfolio Short Term Treasury ETF, cutting an estimated $67.4M.
  • Municipal Employees' Retirement System of Michigan fully exited State Street SPDR Portfolio Intermediate Term Treasury ETF in Q1 2020, selling an estimated $226M.
  • Municipal Employees' Retirement System of Michigan's ten largest holdings make up 63% of its $3.16B portfolio in Q1 2020.
  • Municipal Employees' Retirement System of Michigan opened 25 new positions and closed 92 in Q1 2020.
  • Municipal Employees' Retirement System of Michigan's portfolio value rose 2.3% quarter-over-quarter to $3.16B.

Based on Municipal Employees' Retirement System of Michigan's 13F filing for Q1 2020, filed 29 Apr 2020.