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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
NBTB icon
676
NBT Bancorp
NBTB
$2.79B
$440K 0.01%
13,570
+170
+1% +$6.23K
ALRM icon
677
Alarm.com
ALRM
$2.74B
$439K 0.01%
11,290
+160
+1% +$6.97K
HI
678
DELISTED
Hillenbrand
HI
$439K 0.01%
22,960
+300
+1% +$7.8K
JCAP
679
DELISTED
Jernigan Capital, Inc.
JCAP
$439K 0.01%
40,090
– –
HIBB
680
DELISTED
Hibbett, Inc. Common Stock
HIBB
$439K 0.01%
40,090
– –
CTRE icon
681
CareTrust REIT
CTRE
$9.18B
$438K 0.01%
29,600
+360
+1% +$7.14K
JOUT icon
682
Johnson Outdoors
JOUT
$512M
$438K 0.01%
6,980
– –
THO icon
683
Thor Industries
THO
$4.11B
$437K 0.01%
10,360
+150
+1% +$10.4K
TOL icon
684
Toll Brothers
TOL
$14B
$436K 0.01%
22,630
-1,330
-6% -$50.3K
UBSI icon
685
United Bankshares
UBSI
$6.68B
$436K 0.01%
18,900
– –
KEM
686
DELISTED
KEMET Corporation
KEM
$435K 0.01%
18,000
+240
+1% +$6.09K
LPSN icon
687
LivePerson
LPSN
$35.9M
$434K 0.01%
1,271
+28
+2% +$13.6K
PCRX icon
688
Pacira BioSciences
PCRX
$924M
$434K 0.01%
12,930
+190
+1% +$7.89K
TDC icon
689
Teradata
TDC
$2.57B
$434K 0.01%
21,160
– –
EPAY
690
DELISTED
Bottomline Technologies Inc
EPAY
$433K 0.01%
11,810
+120
+1% +$5.53K
REX icon
691
REX American Resources
REX
$1.44B
$432K 0.01%
55,680
– –
SWBI icon
692
Smith & Wesson
SWBI
$643M
$431K 0.01%
67,535
– –
EGHT icon
693
8x8 Inc
EGHT
$303M
$430K 0.01%
31,050
+660
+2% +$12K
ROCK icon
694
Gibraltar Industries
ROCK
$1.45B
$429K 0.01%
10,000
+140
+1% +$7K
SBAC icon
695
SBA Communications
SBAC
$19.8B
$429K 0.01%
1,590
– –
ALB icon
696
Albemarle
ALB
$15.4B
$427K 0.01%
7,570
– –
CSGS
697
DELISTED
CSG Systems International
CSGS
$427K 0.01%
10,210
+110
+1% +$5.24K
DCO icon
698
Ducommun
DCO
$3.01B
$426K 0.01%
17,160
– –
SIVB
699
DELISTED
SVB Financial Group
SIVB
$426K 0.01%
2,820
– –
MPC icon
700
Marathon Petroleum
MPC
$100B
$425K 0.01%
17,978
– –
26 27
28
29 30

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SFM
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AI
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PEA
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SUT
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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.