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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
CBT icon
976
Cabot Corp
CBT
$4.45B
$280K 0.01%
10,720
– –
HSY icon
977
Hershey
HSY
$37.4B
$280K 0.01%
2,110
– –
WBD icon
978
Warner Bros
WBD
$69.6B
$280K 0.01%
14,380
– –
BRKL
979
DELISTED
Brookline Bancorp
BRKL
$279K 0.01%
24,710
+280
+1% +$4K
CLNE icon
980
Clean Energy Fuels
CLNE
$395M
$279K 0.01%
156,810
– –
EIX icon
981
Edison International
EIX
$27.2B
$278K 0.01%
5,070
– –
FCF icon
982
First Commonwealth Financial
FCF
$2.19B
$278K 0.01%
30,460
+320
+1% +$3.96K
IQV icon
983
IQVIA
IQV
$39.8B
$278K 0.01%
2,580
– –
MLAB icon
984
Mesa Laboratories
MLAB
$633M
$278K 0.01%
1,230
– –
ODP
985
DELISTED
ODP
ODP
$278K 0.01%
16,930
+209
+1% +$4.67K
TIVO
986
DELISTED
Tivo Inc
TIVO
$278K 0.01%
39,230
+740
+2% +$5.46K
EPAC icon
987
Enerpac Tool Group
EPAC
$1.89B
$277K 0.01%
16,740
– –
HLT icon
988
Hilton Worldwide
HLT
$72.2B
$277K 0.01%
4,060
– –
KTB icon
989
Kontoor Brands
KTB
$4.65B
$277K 0.01%
14,470
+200
+1% +$7.13K
XLNX
990
DELISTED
Xilinx Inc
XLNX
$277K 0.01%
3,560
– –
GHC icon
991
Graham Holdings Company
GHC
$4.97B
$276K 0.01%
810
– –
TRMK icon
992
Trustmark
TRMK
$2.8B
$276K 0.01%
11,850
– –
BY icon
993
Byline Bancorp
BY
$1.78B
$275K 0.01%
26,540
– –
NGVT icon
994
Ingevity
NGVT
$2.59B
$273K 0.01%
7,760
– –
TMHC
995
DELISTED
Taylor Morrison
TMHC
$273K 0.01%
+24,820
New +$534K
USPH icon
996
US Physical Therapy
USPH
$1.24B
$273K 0.01%
3,960
+50
+1% +$5.27K
WIRE
997
DELISTED
Encore Wire Corp
WIRE
$273K 0.01%
6,490
+90
+1% +$4.64K
GEO icon
998
The GEO Group
GEO
$4B
$272K 0.01%
22,375
– –
TMP icon
999
Tompkins Financial
TMP
$1.45B
$272K 0.01%
3,790
– –
PRFT
1000
DELISTED
Perficient Inc
PRFT
$272K 0.01%
10,050
– –
38 39
40
41 42

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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.