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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
LZB icon
951
La-Z-Boy
LZB
$1.67B
$293K 0.01%
14,270
– –
CVGW
952
DELISTED
Calavo Growers
CVGW
$292K 0.01%
5,070
+60
+1% +$4.24K
MAR icon
953
Marriott International
MAR
$91.9B
$292K 0.01%
3,904
– –
SBCF icon
954
Seacoast Banking Corp of Florida
SBCF
$3.48B
$292K 0.01%
15,950
+200
+1% +$5.06K
SUPN icon
955
Supernus Pharmaceuticals
SUPN
$2.74B
$292K 0.01%
16,250
+200
+1% +$4.2K
AVB icon
956
AvalonBay Communities
AVB
$26.3B
$291K 0.01%
1,980
– –
KBH icon
957
KB Home
KBH
$3.45B
$291K 0.01%
16,080
+220
+1% +$7.05K
KMT icon
958
Kennametal
KMT
$2.32B
$290K 0.01%
15,550
+250
+2% +$7.13K
MOS icon
959
The Mosaic Company
MOS
$6.92B
$290K 0.01%
26,840
– –
NTCT icon
960
NETSCOUT
NTCT
$2.89B
$290K 0.01%
12,250
– –
WGO icon
961
Winnebago Industries
WGO
$921M
$290K 0.01%
10,440
+130
+1% +$6.28K
DCOM icon
962
Dime Commercial Bancshares
DCOM
$1.82B
$289K 0.01%
13,680
– –
INGN icon
963
Inogen
INGN
$154M
$288K 0.01%
5,570
– –
CERN
964
DELISTED
Cerner Corp
CERN
$288K 0.01%
4,570
– –
GPX
965
DELISTED
GP Strategies Corp.
GPX
$288K 0.01%
44,230
– –
BCC icon
966
Boise Cascade
BCC
$2.94B
$287K 0.01%
12,070
+140
+1% +$4.75K
HES
967
DELISTED
Hess
HES
$287K 0.01%
8,610
– –
IBOC icon
968
International Bancshares
IBOC
$4.57B
$286K 0.01%
10,630
– –
PAYX icon
969
Paychex
PAYX
$44.6B
$286K 0.01%
4,540
– –
AAN.A
970
DELISTED
The Aaron's Company Inc Class A
AAN.A
$285K 0.01%
12,530
– –
FFWM
971
DELISTED
First Foundation Inc
FFWM
$284K 0.01%
27,800
– –
DDD icon
972
3D Systems Corp
DDD
$601M
$283K 0.01%
36,690
+530
+1% +$5.17K
SWN
973
DELISTED
Southwestern Energy Company
SWN
$283K 0.01%
167,690
+68,380
+69% +$119K
PPG icon
974
PPG Industries
PPG
$25.5B
$281K 0.01%
3,360
– –
THC icon
975
Tenet Healthcare
THC
$21.5B
$281K 0.01%
19,500
+310
+2% +$8.9K
37 38
39
40 41

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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.