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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
JBLU icon
601
JetBlue
JBLU
$2.19B
$492K 0.02%
54,950
– –
WBA
602
DELISTED
Walgreens Boots Alliance
WBA
$492K 0.02%
10,750
– –
MCO icon
603
Moody's
MCO
$84.6B
$491K 0.02%
2,320
– –
CRAI icon
604
CRA International
CRAI
$1.07B
$490K 0.02%
14,680
– –
LEN icon
605
Lennar Class A
LEN
$21.1B
$490K 0.02%
13,253
– –
RRX icon
606
Regal Rexnord
RRX
$11.4B
$490K 0.02%
7,780
– –
SRC
607
DELISTED
SPIRIT REALTY CAPITAL, INC.
SRC
$490K 0.02%
18,720
+220
+1% +$9.96K
BCO icon
608
Brink's
BCO
$4.72B
$489K 0.02%
9,390
+120
+1% +$9.38K
KEX icon
609
Kirby Corp
KEX
$7.26B
$489K 0.02%
11,250
+140
+1% +$9.53K
PDEX icon
610
Pro-Dex
PDEX
$217M
$485K 0.02%
30,000
– –
BMI icon
611
Badger Meter
BMI
$3.78B
$483K 0.02%
9,020
+110
+1% +$6.7K
CLF icon
612
Cleveland-Cliffs
CLF
$6.93B
$483K 0.02%
122,402
+39,762
+48% +$250K
SNV
613
DELISTED
Synovus
SNV
$483K 0.02%
27,500
+320
+1% +$9.86K
WRK
614
DELISTED
WestRock Company
WRK
$483K 0.02%
17,108
– –
ABCB icon
615
Ameris Bancorp
ABCB
$6B
$482K 0.02%
20,284
+280
+1% +$9.98K
AVT icon
616
Avnet
AVT
$7.87B
$482K 0.02%
19,220
– –
COHR
617
DELISTED
Coherent Inc
COHR
$482K 0.02%
4,530
+80
+2% +$11.2K
TCO
618
DELISTED
Taubman Centers Inc.
TCO
$481K 0.02%
11,490
+230
+2% +$9.58K
DHI icon
619
D.R. Horton
DHI
$41.9B
$480K 0.02%
14,130
– –
HFWA icon
620
Heritage Financial
HFWA
$1.23B
$477K 0.02%
23,820
– –
EGOV
621
DELISTED
NIC Inc
EGOV
$477K 0.02%
20,750
+260
+1% +$5.31K
PHM icon
622
Pultegroup
PHM
$24.9B
$474K 0.02%
21,250
– –
AGM icon
623
Federal Agricultural Mortgage
AGM
$2.51B
$472K 0.01%
8,490
– –
CXT icon
624
Crane NXT
CXT
$2.96B
$471K 0.01%
27,552
+345
+1% +$8.86K
FHN icon
625
First Horizon
FHN
$12.3B
$471K 0.01%
58,400
+440
+0.8% +$6.1K
23 24
25
26 27

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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
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.