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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
DRH icon
901
Diamondrock Hospitality Co
DRH
$2.51B
$315K 0.01%
62,020
+750
+1% +$6.46K
RGNX icon
902
Regenxbio
RGNX
$704M
$314K 0.01%
9,710
+140
+1% +$5.83K
TTMI icon
903
TTM Technologies
TTMI
$14.6B
$314K 0.01%
30,390
+370
+1% +$4.87K
CAC icon
904
Camden National
CAC
$996M
$313K 0.01%
9,940
– –
CF icon
905
CF Industries
CF
$17.7B
$313K 0.01%
11,510
– –
AWK icon
906
American Water Works
AWK
$27.1B
$310K 0.01%
2,590
+60
+2% +$7.74K
CLX icon
907
Clorox
CLX
$12.9B
$310K 0.01%
1,790
– –
MNST icon
908
Monster Beverage
MNST
$91.4B
$309K 0.01%
21,960
– –
RH icon
909
RH
RH
$3.4B
$308K 0.01%
3,070
-1,820
-37% -$339K
TDS icon
910
Telephone and Data Systems
TDS
$4.03B
$308K 0.01%
18,350
+400
+2% +$8.68K
DOW icon
911
Dow Inc
DOW
$21.9B
$307K 0.01%
10,511
– –
ENOV icon
912
Enovis
ENOV
$1.48B
$307K 0.01%
9,006
– –
GNW icon
913
Genworth Financial
GNW
$3.77B
$307K 0.01%
92,600
– –
LGIH icon
914
LGI Homes
LGIH
$1.37B
$307K 0.01%
6,810
+700
+11% +$52K
LNN icon
915
Lindsay Corp
LNN
$1.17B
$307K 0.01%
3,350
+50
+2% +$4.93K
CIT
916
DELISTED
CIT Group Inc.
CIT
$307K 0.01%
+17,780
New +$671K
AN icon
917
AutoNation
AN
$6.89B
$306K 0.01%
10,900
– –
EVC icon
918
Entravision Communication
EVC
$820M
$306K 0.01%
150,770
– –
NCMI icon
919
National CineMedia
NCMI
$252M
$306K 0.01%
9,393
– –
EQR icon
920
Equity Residential
EQR
$24.7B
$305K 0.01%
4,940
– –
SABR icon
921
Sabre
SABR
$892M
$305K 0.01%
51,400
+640
+1% +$10.7K
TRN icon
922
Trinity Industries
TRN
$2.34B
$305K 0.01%
18,980
– –
WKC icon
923
World Kinect Corp
WKC
$1.9B
$305K 0.01%
12,130
– –
BALL icon
924
Ball Corp
BALL
$16.4B
$304K 0.01%
4,700
– –
MEI icon
925
Methode Electronics
MEI
$593M
$304K 0.01%
11,490
+140
+1% +$4.56K
35 36
37
38 39

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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.