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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
EMN icon
476
Eastman Chemical
EMN
$8.43B
$599K 0.02%
12,860
– –
COLB icon
477
Columbia Banking Systems
COLB
$9.18B
$598K 0.02%
22,320
– –
IART icon
478
Integra LifeSciences
IART
$1.42B
$597K 0.02%
13,370
+200
+2% +$10.5K
SKX
479
DELISTED
Skechers
SKX
$597K 0.02%
25,130
+320
+1% +$11K
ACA icon
480
Arcosa
ACA
$7.12B
$596K 0.02%
14,990
+180
+1% +$7.61K
CFR icon
481
Cullen/Frost Bankers
CFR
$10.5B
$596K 0.02%
10,680
+100
+0.9% +$8.15K
ELME
482
Elme Communities
ELME
$144M
$596K 0.02%
24,970
+460
+2% +$13.1K
BAX icon
483
Baxter International
BAX
$14B
$594K 0.02%
7,320
+90
+1% +$7.77K
MANH icon
484
Manhattan Associates
MANH
$11.7B
$594K 0.02%
11,930
– –
SAIA icon
485
Saia
SAIA
$10.1B
$591K 0.02%
8,030
+100
+1% +$8.77K
SANM icon
486
Sanmina
SANM
$11.1B
$591K 0.02%
21,680
+380
+2% +$11.1K
ALE
487
DELISTED
Allete
ALE
$589K 0.02%
9,700
+120
+1% +$9.07K
DAR icon
488
Darling Ingredients
DAR
$10.4B
$589K 0.02%
30,720
-19,700
-39% -$500K
NKTR icon
489
Nektar Therapeutics
NKTR
$2.57B
$589K 0.02%
2,201
+34
+2% +$10.5K
MAN icon
490
ManpowerGroup
MAN
$2.75B
$588K 0.02%
11,100
– –
KAI icon
491
Kadant
KAI
$3.91B
$587K 0.02%
7,860
– –
NX icon
492
Quanex
NX
$981M
$587K 0.02%
58,270
– –
TXT icon
493
Textron
TXT
$15.1B
$586K 0.02%
21,990
– –
BJ icon
494
BJs Wholesale Club
BJ
$11.9B
$584K 0.02%
22,930
+350
+2% +$7.87K
ENSG icon
495
The Ensign Group
ENSG
$10.6B
$584K 0.02%
15,540
+180
+1% +$7.89K
NWN icon
496
Northwest Natural Holdings
NWN
$2.14B
$582K 0.02%
9,430
+110
+1% +$7.69K
AEIS icon
497
Advanced Energy
AEIS
$13.2B
$576K 0.02%
11,870
+150
+1% +$9.52K
ILMN icon
498
Illumina
ILMN
$29.1B
$576K 0.02%
2,169
+31
+1% +$8.67K
LAD icon
499
Lithia Motors
LAD
$8.32B
$574K 0.02%
7,020
+160
+2% +$19.3K
HBAN icon
500
Huntington Bancshares
HBAN
$35.9B
$573K 0.02%
69,770
– –
18 19
20
21 22

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SFM
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AI
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PEA
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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.