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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
ADI icon
626
Analog Devices
ADI
$186B
$470K 0.01%
5,242
– –
HUBG icon
627
HUB Group
HUBG
$2.55B
$470K 0.01%
20,680
+220
+1% +$5.52K
OLLI icon
628
Ollie's Bargain Outlet
OLLI
$4.7B
$470K 0.01%
10,140
– –
SHOE
629
Shoe Station Group
SHOE
$415M
$470K 0.01%
45,240
– –
FF icon
630
Future Fuel
FF
$249M
$469K 0.01%
41,600
– –
COHR icon
631
Coherent
COHR
$64B
$467K 0.01%
16,370
+300
+2% +$9.75K
HMN icon
632
Horace Mann Educators
HMN
$2.1B
$467K 0.01%
12,770
+160
+1% +$6.6K
NSIT icon
633
Insight Enterprises
NSIT
$4.6B
$467K 0.01%
11,090
+140
+1% +$8.1K
ABTX
634
DELISTED
Allegiance Bancshares
ABTX
$467K 0.01%
19,370
– –
PRSP
635
DELISTED
Perspecta Inc. Common Stock
PRSP
$467K 0.01%
25,590
– –
BFYT
636
DELISTED
Benefytt Technologies, Inc. Class A Common Stock
BFYT
$466K 0.01%
20,810
– –
ANGO icon
637
AngioDynamics
ANGO
$647M
$465K 0.01%
44,490
– –
CDP icon
638
COPT Defense Properties
CDP
$4.23B
$465K 0.01%
21,030
+260
+1% +$7.06K
ROP icon
639
Roper Technologies
ROP
$39.3B
$465K 0.01%
1,490
+20
+1% +$7.09K
MSM icon
640
MSC Industrial Direct
MSM
$6.77B
$464K 0.01%
8,450
+100
+1% +$6.58K
SMTC icon
641
Semtech
SMTC
$12.4B
$463K 0.01%
12,340
– –
VVV icon
642
Valvoline
VVV
$4.31B
$463K 0.01%
35,357
+450
+1% +$8.62K
SMBK icon
643
SmartFinancial
SMBK
$899M
$461K 0.01%
30,550
– –
SYNH
644
DELISTED
Syneos Health, Inc. Class A Common Stock
SYNH
$461K 0.01%
11,690
+170
+1% +$9.94K
THS
645
DELISTED
Treehouse Foods
THS
$460K 0.01%
10,420
– –
FFBC icon
646
First Financial Bancorp
FFBC
$3.6B
$459K 0.01%
30,790
+620
+2% +$13.3K
LKQ icon
647
LKQ Corp
LKQ
$6.38B
$457K 0.01%
22,270
– –
MUSA icon
648
Murphy USA
MUSA
$10.4B
$457K 0.01%
5,420
-150
-3% -$15.6K
XNCR icon
649
Xencor
XNCR
$1.71B
$457K 0.01%
15,290
+210
+1% +$6.96K
CMCO icon
650
Columbus McKinnon
CMCO
$550M
$456K 0.01%
18,250
– –
24 25
26
27 28

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SFM
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AI
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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.