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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
WLY icon
926
John Wiley & Sons Class A
WLY
$2.63B
$304K 0.01%
8,100
– –
SVBI
927
DELISTED
Severn Bancorp Inc/MD
SVBI
$304K 0.01%
47,330
– –
WNEB icon
928
Western New England Bancorp
WNEB
$282M
$303K 0.01%
44,810
– –
BKR icon
929
Baker Hughes
BKR
$63B
$302K 0.01%
28,760
– –
MTOR
930
DELISTED
MERITOR, Inc.
MTOR
$302K 0.01%
+22,820
New +$492K
ACHC icon
931
Acadia Healthcare
ACHC
$2.82B
$301K 0.01%
16,420
– –
MSTR icon
932
Strategy Inc
MSTR
$38.2B
$301K 0.01%
25,500
+400
+2% +$5.43K
VSEC icon
933
VSE Corp
VSEC
$6.48B
$301K 0.01%
18,350
– –
AX icon
934
Axos Financial
AX
$5.72B
$300K 0.01%
16,520
+220
+1% +$5.53K
COKE icon
935
Coca-Cola Consolidated
COKE
$12.7B
$300K 0.01%
14,400
+200
+1% +$4.98K
RMD icon
936
ResMed
RMD
$32.9B
$300K 0.01%
2,040
– –
SBSI icon
937
Southside Bancshares
SBSI
$984M
$299K 0.01%
9,837
+130
+1% +$4.4K
WWE
938
DELISTED
World Wrestling Entertainment
WWE
$299K 0.01%
8,820
– –
CALY
939
Callaway Golf Company
CALY
$2.95B
$298K 0.01%
29,150
+350
+1% +$6.03K
ROIC
940
DELISTED
Retail Opportunity Investments Corp.
ROIC
$298K 0.01%
35,930
+950
+3% +$14.1K
OPLN
941
Openlane
OPLN
$4.33B
$297K 0.01%
24,760
– –
LRN icon
942
Stride
LRN
$3.48B
$297K 0.01%
15,740
– –
GCP
943
DELISTED
GCP Applied Technologies Inc.
GCP
$297K 0.01%
16,660
+200
+1% +$4.24K
FFIC
944
DELISTED
Flushing Financial
FFIC
$296K 0.01%
22,140
– –
WERN icon
945
Werner Enterprises
WERN
$2.31B
$296K 0.01%
8,170
– –
CCL icon
946
Carnival Corporation Ltd
CCL
$38.9B
$294K 0.01%
22,300
– –
YUM icon
947
Yum! Brands
YUM
$41.2B
$294K 0.01%
4,290
– –
ZBH icon
948
Zimmer Biomet
ZBH
$19B
$294K 0.01%
2,997
– –
BNED icon
949
Barnes & Noble Education
BNED
$424M
$293K 0.01%
2,155
– –
IDXX icon
950
Idexx Laboratories
IDXX
$44.7B
$293K 0.01%
1,210
– –
36 37
38
39 40

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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.