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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
WBS icon
751
Webster Financial
WBS
$12.8B
$395K 0.01%
17,270
+180
+1% +$7.32K
WEC icon
752
WEC Energy
WEC
$35.9B
$395K 0.01%
4,483
– –
PCH
753
DELISTED
PotlatchDeltic
PCH
$391K 0.01%
12,464
– –
ENS icon
754
EnerSys
ENS
$7.2B
$390K 0.01%
7,880
– –
PRAA icon
755
PRA Group
PRAA
$762M
$390K 0.01%
14,070
+170
+1% +$5.92K
VAC icon
756
Marriott Vacations Worldwide
VAC
$4.17B
$390K 0.01%
7,025
-160
-2% -$16.6K
VSAT icon
757
Viasat
VSAT
$11.4B
$389K 0.01%
10,820
+130
+1% +$7.5K
HAIN icon
758
Hain Celestial
HAIN
$53.9M
$387K 0.01%
14,890
– –
AMSF icon
759
AMERISAFE
AMSF
$504M
$386K 0.01%
5,980
+70
+1% +$4.59K
CVCO icon
760
Cavco Industries
CVCO
$4.67B
$386K 0.01%
2,660
+40
+2% +$7.86K
ASB icon
761
Associated Banc-Corp
ASB
$6.07B
$385K 0.01%
30,080
– –
CSTE icon
762
Caesarstone
CSTE
$105M
$385K 0.01%
36,470
– –
CVLG icon
763
Covenant Logistics
CVLG
$880M
$385K 0.01%
88,840
– –
CSII
764
DELISTED
Cardiovascular Systems, Inc.
CSII
$384K 0.01%
10,900
+110
+1% +$4.64K
RMBS icon
765
Rambus
RMBS
$10.8B
$383K 0.01%
34,540
+530
+2% +$7.34K
BANR icon
766
Banner Corp
BANR
$2.5B
$382K 0.01%
11,550
+970
+9% +$46K
SAFT icon
767
Safety Insurance
SAFT
$1.52B
$382K 0.01%
4,530
+60
+1% +$5.23K
WAFD icon
768
WaFd
WAFD
$2.81B
$382K 0.01%
14,730
– –
TMUS icon
769
T-Mobile US
TMUS
$197B
$381K 0.01%
4,540
+100
+2% +$8.46K
WWW icon
770
Wolverine World Wide
WWW
$1.63B
$381K 0.01%
25,050
+300
+1% +$8.25K
COLM icon
771
Columbia Sportswear
COLM
$2.96B
$380K 0.01%
+5,450
New +$463K
HWM icon
772
Howmet Aerospace
HWM
$113B
$380K 0.01%
30,866
– –
LTC
773
LTC Properties
LTC
$2.1B
$380K 0.01%
12,310
+140
+1% +$5.98K
CORT icon
774
Corcept Therapeutics
CORT
$11.9B
$379K 0.01%
31,860
+550
+2% +$6.81K
LPX icon
775
Louisiana-Pacific
LPX
$5.18B
$379K 0.01%
22,040
-890
-4% -$24.6K
29 30
31
32 33

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VAS
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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.