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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
PMT
876
PennyMac Mortgage Investment
PMT
$828M
$330K 0.01%
31,040
+4,170
+16% +$82.3K
BFIN
877
DELISTED
BankFinancial
BFIN
$329K 0.01%
37,310
– –
EBAY icon
878
eBay
EBAY
$46.5B
$329K 0.01%
10,960
-540
-5% -$18.8K
KLAC icon
879
KLA
KLAC
$274B
$329K 0.01%
22,900
– –
LBC
880
DELISTED
Luther Burbank Corporation Common Stock
LBC
$329K 0.01%
35,910
– –
ARI
881
Apollo Commercial Real Estate
ARI
$886M
$328K 0.01%
44,230
+530
+1% +$8.27K
TNC icon
882
Tennant Co
TNC
$1.15B
$328K 0.01%
5,660
+90
+2% +$6.64K
VRSK icon
883
Verisk Analytics
VRSK
$24.2B
$328K 0.01%
2,350
+50
+2% +$7.84K
WRI
884
DELISTED
Weingarten Realty Investors
WRI
$328K 0.01%
22,700
+270
+1% +$7.13K
MSI icon
885
Motorola Solutions
MSI
$77B
$327K 0.01%
2,460
+110
+5% +$18.4K
STBA icon
886
S&T Bancorp
STBA
$1.82B
$326K 0.01%
11,940
+150
+1% +$5.24K
MGLN
887
DELISTED
Magellan Health Services, Inc.
MGLN
$325K 0.01%
6,750
+100
+2% +$6.43K
CATY icon
888
Cathay General Bancorp
CATY
$4.31B
$323K 0.01%
14,070
– –
CENTA icon
889
Central Garden & Pet Co Class A
CENTA
$2.41B
$323K 0.01%
15,813
– –
HOPE icon
890
Hope Bancorp
HOPE
$1.85B
$323K 0.01%
39,251
+480
+1% +$6K
OXY icon
891
Occidental Petroleum
OXY
$57.7B
$322K 0.01%
27,830
– –
ALK icon
892
Alaska Air
ALK
$5.3B
$321K 0.01%
11,280
– –
AVNT icon
893
Avient
AVNT
$4.23B
$321K 0.01%
16,940
+2,800
+20% +$78.3K
GTLS
894
DELISTED
Chart Industries
GTLS
$321K 0.01%
11,090
+140
+1% +$7.6K
SYKE
895
DELISTED
SYKES Enterprises Inc
SYKE
$321K 0.01%
11,840
– –
HWC icon
896
Hancock Whitney
HWC
$6.37B
$320K 0.01%
16,370
-460
-3% -$15.9K
CVLT icon
897
Commault Systems
CVLT
$6.26B
$319K 0.01%
7,890
+260
+3% +$11.2K
EGBN icon
898
Eagle Bancorp
EGBN
$877M
$319K 0.01%
10,570
– –
TRHC
899
DELISTED
Tabula Rasa HealthCare, Inc. Common Stock
TRHC
$318K 0.01%
6,090
+70
+1% +$3.79K
THRM icon
900
Gentherm
THRM
$1.32B
$317K 0.01%
10,090
– –
34 35
36
37 38

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SFM
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AI
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PEA
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SUT
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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.