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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
GT icon
1051
Goodyear
GT
$1.78B
$251K 0.01%
43,130
– –
CXW icon
1052
CoreCivic
CXW
$3.13B
$250K 0.01%
22,350
+440
+2% +$6.59K
MBUU icon
1053
Malibu Boats
MBUU
$573M
$250K 0.01%
8,690
– –
PIPR icon
1054
Piper Sandler
PIPR
$5.54B
$249K 0.01%
19,720
+2,320
+13% +$41.3K
VC icon
1055
Visteon
VC
$2.86B
$249K 0.01%
5,190
– –
EQBK icon
1056
Equity Bancshares
EQBK
$1.07B
$248K 0.01%
14,350
– –
TWIN icon
1057
Twin Disc
TWIN
$349M
$248K 0.01%
35,510
– –
REGI
1058
DELISTED
Renewable Energy Group, Inc.
REGI
$248K 0.01%
12,070
+260
+2% +$6.58K
MKC icon
1059
McCormick & Company Non-Voting
MKC
$14.6B
$247K 0.01%
3,500
– –
KRG icon
1060
Kite Realty
KRG
$5.31B
$246K 0.01%
26,020
+320
+1% +$5.12K
CVET
1061
DELISTED
Covetrus, Inc. Common Stock
CVET
$246K 0.01%
30,220
+410
+1% +$4.68K
CMP icon
1062
Compass Minerals
CMP
$1.1B
$245K 0.01%
6,360
+140
+2% +$7.63K
DLTR icon
1063
Dollar Tree
DLTR
$24.9B
$245K 0.01%
3,337
– –
EPC icon
1064
Edgewell Personal Care
EPC
$1.31B
$245K 0.01%
10,170
+230
+2% +$6.87K
NMIH icon
1065
NMI Holdings
NMIH
$3.42B
$245K 0.01%
21,060
+320
+2% +$8.46K
RFIL icon
1066
RF Industries
RFIL
$144M
$245K 0.01%
61,800
– –
SAFE
1067
Safehold
SAFE
$1.1B
$245K 0.01%
4,742
+1,030
+28% +$69.5K
MRTN icon
1068
Marten Transport
MRTN
$1.24B
$244K 0.01%
17,805
– –
RUN icon
1069
Sunrun
RUN
$2.37B
$244K 0.01%
+24,140
New +$396K
WMB icon
1070
Williams Companies
WMB
$89.3B
$244K 0.01%
17,220
– –
NTUS
1071
DELISTED
Natus Medical Inc
NTUS
$244K 0.01%
10,560
+130
+1% +$3.78K
MLKN icon
1072
MillerKnoll
MLKN
$1.62B
$243K 0.01%
10,950
– –
PDCO
1073
DELISTED
Patterson Companies, Inc.
PDCO
$243K 0.01%
15,870
– –
DINO icon
1074
HF Sinclair
DINO
$16.3B
$242K 0.01%
9,900
– –
MTD icon
1075
Mettler-Toledo International
MTD
$28.7B
$242K 0.01%
350
– –
41 42
43
44 45

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VAS
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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.