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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
SMMF
851
DELISTED
Summit Financial Group, Inc.
SMMF
$343K 0.01%
16,170
– –
INVX
852
Innovex International
INVX
$2.15B
$342K 0.01%
11,210
+130
+1% +$5.07K
CADE
853
DELISTED
Cadence Bank
CADE
$341K 0.01%
18,010
+640
+4% +$16.9K
EVR icon
854
Evercore
EVR
$12B
$341K 0.01%
7,400
– –
HTBK
855
DELISTED
Heritage Commerce
HTBK
$341K 0.01%
44,480
– –
HVT icon
856
Haverty Furniture Companies
HVT
$450M
$341K 0.01%
28,640
– –
STZ icon
857
Constellation Brands
STZ
$23.3B
$341K 0.01%
2,380
– –
KALU icon
858
Kaiser Aluminum
KALU
$2.99B
$339K 0.01%
4,900
– –
UVV icon
859
Universal Corp
UVV
$1.12B
$338K 0.01%
7,640
– –
MSBI icon
860
Midland States Bancorp
MSBI
$698M
$337K 0.01%
19,240
– –
VGR
861
DELISTED
Vector Group Ltd.
VGR
$336K 0.01%
50,358
+620
+1% +$5.47K
ALGT icon
862
Allegiant Air
ALGT
$2.36B
$335K 0.01%
4,090
+50
+1% +$7.18K
AKR icon
863
Acadia Realty Trust
AKR
$2.86B
$334K 0.01%
26,940
+1,090
+4% +$24.6K
CHCO icon
864
City Holding Co
CHCO
$2.08B
$334K 0.01%
5,020
– –
HCSG icon
865
Healthcare Services Group
HCSG
$1.45B
$333K 0.01%
13,910
+310
+2% +$7.97K
MNDO icon
866
Mind CTI
MNDO
$20.6M
$333K 0.01%
191,480
– –
UVSP icon
867
Univest Financial
UVSP
$1.19B
$333K 0.01%
20,410
– –
PFSW
868
DELISTED
PFSweb, Inc.
PFSW
$333K 0.01%
110,920
– –
EQT icon
869
EQT Corp
EQT
$33.8B
$332K 0.01%
47,010
– –
KAMN
870
DELISTED
Kaman Corp
KAMN
$332K 0.01%
8,630
+100
+1% +$5.65K
ABG icon
871
Asbury Automotive
ABG
$3.78B
$331K 0.01%
5,990
+70
+1% +$6.1K
GENC icon
872
Gencor Industries
GENC
$264M
$331K 0.01%
31,490
– –
ORLY icon
873
O'Reilly Automotive
ORLY
$74.9B
$331K 0.01%
16,500
– –
CRWS icon
874
Crown Crafts
CRWS
$28.6M
$330K 0.01%
69,000
– –
MYGN icon
875
Myriad Genetics
MYGN
$303M
$330K 0.01%
23,050
+440
+2% +$9.29K
33 34
35
36 37

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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
WINDACRE PARTNERSHIP LLC Houston, Texas $9.34B AUM 17.41% 1-Year Est. Return
PVI
Partners Value Investments Hamilton, Bermuda $9.34B AUM 12.2% 1-Year Est. Return

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.