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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
EXP icon
651
Eagle Materials
EXP
$6.41B
$455K 0.01%
7,790
– –
PRDO icon
652
Perdoceo Education
PRDO
$1.99B
$455K 0.01%
42,150
+340
+0.8% +$5.29K
CLGX
653
DELISTED
Corelogic, Inc.
CLGX
$454K 0.01%
14,860
– –
IRMD icon
654
iRadimed
IRMD
$1.11B
$453K 0.01%
21,210
– –
MNRO icon
655
Monro
MNRO
$352M
$452K 0.01%
10,310
+140
+1% +$8.48K
LNC icon
656
Lincoln National
LNC
$8.67B
$451K 0.01%
17,110
– –
ONTO icon
657
Onto Innovation
ONTO
$20.6B
$451K 0.01%
15,199
+250
+2% +$8.55K
ROST icon
658
Ross Stores
ROST
$78.6B
$451K 0.01%
5,180
– –
SAFM
659
DELISTED
Sanderson Farms Inc
SAFM
$451K 0.01%
3,660
– –
FMBI
660
DELISTED
First Midwest Bancorp Inc/IL
FMBI
$451K 0.01%
34,070
+260
+0.8% +$4.9K
AIN icon
661
Albany International
AIN
$1.82B
$450K 0.01%
9,510
+110
+1% +$7.2K
ZUMZ icon
662
Zumiez
ZUMZ
$319M
$450K 0.01%
25,990
+150
+0.6% +$4.23K
UMPQ
663
DELISTED
Umpqua Holdings Corp
UMPQ
$450K 0.01%
41,330
+490
+1% +$7.62K
FL
664
DELISTED
Foot Locker
FL
$449K 0.01%
20,350
– –
FNB icon
665
FNB Corp
FNB
$6.88B
$449K 0.01%
60,980
+720
+1% +$7.6K
TAP icon
666
Molson Coors Class B
TAP
$7.85B
$448K 0.01%
11,500
– –
XEL icon
667
Xcel Energy
XEL
$49.3B
$448K 0.01%
7,430
– –
UCB
668
United Community Banks
UCB
$4.43B
$448K 0.01%
24,470
+270
+1% +$6.97K
SPXC icon
669
SPX Corp
SPXC
$10.6B
$447K 0.01%
13,680
+200
+1% +$9.01K
GD icon
670
General Dynamics
GD
$106B
$445K 0.01%
3,360
+40
+1% +$6.64K
BWA icon
671
BorgWarner
BWA
$13.8B
$444K 0.01%
20,698
– –
PRGS icon
672
Progress Software
PRGS
$1.83B
$444K 0.01%
13,870
+180
+1% +$7.25K
FWRD icon
673
Forward Air
FWRD
$682M
$442K 0.01%
8,730
+70
+0.8% +$4.25K
TGNA
674
DELISTED
TEGNA Inc
TGNA
$442K 0.01%
40,710
+520
+1% +$8.32K
FUL icon
675
H.B. Fuller
FUL
$3.24B
$441K 0.01%
15,790
+210
+1% +$8.82K
25 26
27
28 29

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VAS
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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
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
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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.