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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
NAVI icon
1076
Navient
NAVI
$867M
$242K 0.01%
31,890
-5,730
-15% -$68.4K
ARE icon
1077
Alexandria Real Estate Equities
ARE
$8.33B
$241K 0.01%
1,760
+170
+11% +$26.6K
ASTE icon
1078
Astec Industries
ASTE
$975M
$241K 0.01%
6,900
– –
INVA icon
1079
Innoviva
INVA
$1.5B
$241K 0.01%
20,460
– –
SCHL icon
1080
Scholastic
SCHL
$784M
$241K 0.01%
9,440
– –
CHCT
1081
Community Healthcare Trust
CHCT
$433M
$240K 0.01%
6,280
+750
+14% +$32.6K
FARO
1082
DELISTED
Faro Technologies
FARO
$240K 0.01%
5,390
+80
+2% +$4.15K
GPI icon
1083
Group 1 Automotive
GPI
$3.14B
$240K 0.01%
5,420
+80
+1% +$6.74K
SPG icon
1084
Simon Property Group
SPG
$71.7B
$240K 0.01%
4,370
– –
ECOL
1085
DELISTED
US Ecology, Inc.
ECOL
$240K 0.01%
7,880
+90
+1% +$4.16K
PFS icon
1086
Provident Financial Services
PFS
$3.26B
$239K 0.01%
18,550
– –
VTOL icon
1087
Bristow Group
VTOL
$1.38B
$239K 0.01%
22,410
– –
WPX
1088
DELISTED
WPX Energy, Inc.
WPX
$239K 0.01%
78,350
– –
FOE
1089
DELISTED
Ferro Corporation
FOE
$238K 0.01%
25,390
+320
+1% +$4.07K
SAFE
1090
DELISTED
Safehold Inc.
SAFE
$238K 0.01%
3,770
– –
AEO icon
1091
American Eagle Outfitters
AEO
$2.73B
$237K 0.01%
29,810
+590
+2% +$7.5K
AVNS
1092
DELISTED
Avanos Medical
AVNS
$237K 0.01%
8,800
– –
TCMD icon
1093
Tactile Systems Technology
TCMD
$537M
$237K 0.01%
5,890
+90
+2% +$4.82K
LTHM
1094
DELISTED
Livent Corporation
LTHM
$237K 0.01%
45,220
+540
+1% +$4.54K
AME icon
1095
Ametek
AME
$58.7B
$236K 0.01%
3,280
+80
+3% +$7.22K
CMG icon
1096
Chipotle Mexican Grill
CMG
$41.3B
$236K 0.01%
18,000
– –
MXL icon
1097
MaxLinear
MXL
$6.95B
$236K 0.01%
20,180
+350
+2% +$5.87K
PH icon
1098
Parker-Hannifin
PH
$134B
$236K 0.01%
1,820
– –
ALEX
1099
DELISTED
Alexander & Baldwin
ALEX
$235K 0.01%
20,970
+8,436
+67% +$158K
LGND icon
1100
Ligand Pharmaceuticals
LGND
$5.76B
$235K 0.01%
5,178
– –
42 43
44
45 46

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SFM
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AI
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PEA
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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.