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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
CDNS icon
1026
Cadence Design Systems
CDNS
$89.2B
$260K 0.01%
3,940
– –
DKS icon
1027
Dick's Sporting Goods
DKS
$18.1B
$260K 0.01%
12,220
– –
SMP icon
1028
Standard Motor Products
SMP
$870M
$260K 0.01%
6,260
+110
+2% +$5.18K
VPG icon
1029
Vishay Precision Group
VPG
$908M
$260K 0.01%
12,960
– –
CADE
1030
DELISTED
Cadence Bancorporation
CADE
$260K 0.01%
39,660
+270
+0.7% +$3.72K
CTRN icon
1031
Citi Trends
CTRN
$621M
$259K 0.01%
29,150
– –
DLHC icon
1032
DLH Holdings
DLHC
$68.7M
$259K 0.01%
61,430
– –
PENN icon
1033
PENN Entertainment
PENN
$2.53B
$259K 0.01%
20,450
+250
+1% +$6.28K
RGR icon
1034
Sturm, Ruger & Co
RGR
$601M
$259K 0.01%
5,080
– –
VRE
1035
DELISTED
Veris Residential
VRE
$259K 0.01%
16,990
+330
+2% +$6.75K
HOFT icon
1036
Hooker Furnishings Corp
HOFT
$158M
$255K 0.01%
16,310
– –
NPO icon
1037
Enpro
NPO
$7.12B
$255K 0.01%
6,440
+140
+2% +$7.72K
FAST icon
1038
Fastenal
FAST
$58.9B
$254K 0.01%
16,260
– –
WDR
1039
DELISTED
Waddell & Reed Financial, Inc.
WDR
$254K 0.01%
22,360
– –
CXO
1040
DELISTED
CONCHO RESOURCES INC.
CXO
$254K 0.01%
5,930
– –
IPAR icon
1041
Interparfums
IPAR
$3.7B
$253K 0.01%
5,460
+70
+1% +$4.37K
VICR icon
1042
Vicor
VICR
$10.4B
$253K 0.01%
5,680
+90
+2% +$4.27K
CTB
1043
DELISTED
Cooper Tire & Rubber Co.
CTB
$253K 0.01%
15,550
+190
+1% +$4.73K
CTVA icon
1044
Corteva
CTVA
$50.6B
$252K 0.01%
10,731
+220
+2% +$6.05K
GTY
1045
Getty Realty Corp
GTY
$2.05B
$252K 0.01%
10,598
+150
+1% +$4.38K
IRT icon
1046
Independence Realty Trust
IRT
$4.01B
$252K 0.01%
28,160
+560
+2% +$7.57K
PEBO icon
1047
Peoples Bancorp
PEBO
$1.49B
$252K 0.01%
11,380
– –
CMD
1048
DELISTED
Cantel Medical Corporation
CMD
$252K 0.01%
7,030
+210
+3% +$11.9K
CNOB icon
1049
Center Bancorp
CNOB
$1.81B
$251K 0.01%
18,710
– –
ENTA icon
1050
Enanta Pharmaceuticals
ENTA
$391M
$251K 0.01%
4,880
– –
40 41
42
43 44

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SFM
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AI
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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.