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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
NP
1126
DELISTED
Neenah, Inc. Common Stock
NP
$223K 0.01%
5,160
– –
KEYS icon
1127
Keysight
KEYS
$60.5B
$221K 0.01%
2,640
– –
MTRN icon
1128
Materion
MTRN
$5.88B
$221K 0.01%
6,320
+80
+1% +$3.97K
PZZA icon
1129
Papa John's
PZZA
$804M
$221K 0.01%
4,140
+120
+3% +$7.22K
AMWD
1130
DELISTED
American Woodmark
AMWD
$220K 0.01%
4,820
+60
+1% +$5.55K
GVA icon
1131
Granite Construction
GVA
$5.41B
$220K 0.01%
14,480
+5,850
+68% +$131K
AJG icon
1132
Arthur J. Gallagher & Co
AJG
$65B
$218K 0.01%
2,670
+70
+3% +$6.7K
SWK icon
1133
Stanley Black & Decker
SWK
$15.4B
$218K 0.01%
2,180
+50
+2% +$7.14K
SWKS icon
1134
Skyworks Solutions
SWKS
$10.5B
$218K 0.01%
2,440
– –
BYD icon
1135
Boyd Gaming
BYD
$6.05B
$217K 0.01%
15,020
+300
+2% +$7.68K
NTGR icon
1136
NETGEAR
NTGR
$647M
$217K 0.01%
9,520
– –
CYTK icon
1137
Cytokinetics
CYTK
$10.2B
$216K 0.01%
18,300
+510
+3% +$6.51K
KHC icon
1138
Kraft Heinz
KHC
$30.1B
$216K 0.01%
8,730
– –
MDRX
1139
DELISTED
Veradigm Inc. Common Stock
MDRX
$215K 0.01%
30,570
– –
AKAM icon
1140
Akamai
AKAM
$18B
$214K 0.01%
2,340
– –
K
1141
DELISTED
Kellanova
K
$214K 0.01%
3,802
+96
+3% +$5.89K
UFCS icon
1142
United Fire Group
UFCS
$1.38B
$214K 0.01%
6,570
– –
YELP icon
1143
Yelp
YELP
$1.32B
$214K 0.01%
11,890
– –
TSC
1144
DELISTED
TriState Capital Holdings, Inc.
TSC
$214K 0.01%
22,090
– –
FBC
1145
DELISTED
Flagstar Bancorp, Inc. New
FBC
$212K 0.01%
10,680
+140
+1% +$4.53K
ADEA icon
1146
Adeia
ADEA
$3.16B
$210K 0.01%
57,078
– –
DAN icon
1147
Dana Inc
DAN
$3.26B
$209K 0.01%
26,700
– –
ESS icon
1148
Essex Property Trust
ESS
$18.5B
$209K 0.01%
950
+30
+3% +$8.62K
OI icon
1149
O-I Glass
OI
$1.05B
$208K 0.01%
29,210
+690
+2% +$7.55K
VBTX
1150
DELISTED
Veritex Holdings
VBTX
$208K 0.01%
14,901
– –
44 45
46
47 48

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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.