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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
BRX icon
551
Brixmor Property Group
BRX
$9.21B
$531K 0.02%
55,900
+650
+1% +$11.7K
MZTI
552
The Marzetti Company
MZTI
$3.22B
$531K 0.02%
3,670
– –
AEL
553
DELISTED
American Equity Investment Life Holding Company
AEL
$530K 0.02%
28,210
+370
+1% +$9.44K
ZION icon
554
Zions Bancorporation
ZION
$10.5B
$529K 0.02%
19,770
– –
NEM icon
555
Newmont
NEM
$120B
$528K 0.02%
11,650
– –
IOSP icon
556
Innospec
IOSP
$2.31B
$527K 0.02%
7,590
+100
+1% +$9.13K
CTRA
557
DELISTED
Coterra Energy
CTRA
$525K 0.02%
30,520
– –
NEU icon
558
NewMarket
NEU
$8.72B
$525K 0.02%
1,370
– –
CAG icon
559
Conagra Brands
CAG
$7.39B
$524K 0.02%
17,870
– –
ACIW icon
560
ACI Worldwide
ACIW
$5.42B
$523K 0.02%
21,650
– –
RTN
561
DELISTED
Raytheon Company
RTN
$523K 0.02%
3,990
+40
+1% +$7.92K
DIOD icon
562
Diodes
DIOD
$4.48B
$521K 0.02%
12,810
+170
+1% +$8.15K
PII icon
563
Polaris
PII
$3.91B
$520K 0.02%
10,790
+130
+1% +$10.7K
LCII icon
564
LCI Industries
LCII
$2.6B
$518K 0.02%
7,750
+90
+1% +$8.78K
BLKB icon
565
Blackbaud
BLKB
$2.1B
$513K 0.02%
9,230
+110
+1% +$7.78K
FSLR icon
566
First Solar
FSLR
$24B
$513K 0.02%
14,240
+160
+1% +$7.61K
IT icon
567
Gartner
IT
$11.6B
$513K 0.02%
5,160
– –
VNDA icon
568
Vanda Pharmaceuticals
VNDA
$304M
$512K 0.02%
49,380
– –
FSS icon
569
Federal Signal
FSS
$7.51B
$511K 0.02%
18,740
+270
+1% +$8.41K
PARA
570
DELISTED
Paramount Global Class B
PARA
$511K 0.02%
36,451
– –
UNM icon
571
Unum
UNM
$14.7B
$511K 0.02%
34,020
– –
VG
572
DELISTED
Vonage Holdings Corporation
VG
$511K 0.02%
70,650
+1,000
+1% +$8.15K
PSB
573
DELISTED
PS Business Parks, Inc.
PSB
$510K 0.02%
3,760
+50
+1% +$7.78K
CSW
574
CSW Industrials
CSW
$5.59B
$509K 0.02%
7,850
– –
WEN icon
575
Wendy's
WEN
$1.65B
$509K 0.02%
34,220
– –
21 22
23
24 25

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SFM
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AI
Ariel Investments Chicago, Illinois $8.93B AUM 29.58% 1-Year Est. Return
PEA
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SUT
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MU
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WPL
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PVI
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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.