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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
TCBI icon
1151
Texas Capital Bancshares
TCBI
$4.38B
$207K 0.01%
9,330
– –
CTAS icon
1152
Cintas
CTAS
$80.3B
$206K 0.01%
4,760
– –
DLX icon
1153
Deluxe
DLX
$1.11B
$205K 0.01%
7,900
– –
GMS
1154
DELISTED
GMS Inc
GMS
$205K 0.01%
13,060
+320
+3% +$7.58K
CNK icon
1155
Cinemark Holdings
CNK
$4.37B
$204K 0.01%
20,010
+240
+1% +$6.16K
LVS icon
1156
Las Vegas Sands
LVS
$29.6B
$204K 0.01%
4,800
– –
MCY icon
1157
Mercury Insurance
MCY
$5.81B
$204K 0.01%
5,010
– –
SACH
1158
Sachem Capital Corp
SACH
$37.6M
$204K 0.01%
117,140
– –
EFX icon
1159
Equifax
EFX
$21.8B
$203K 0.01%
1,700
– –
FTNT icon
1160
Fortinet
FTNT
$121B
$203K 0.01%
10,050
– –
AAWW
1161
DELISTED
Atlas Air Worldwide Holdings, Inc.
AAWW
$203K 0.01%
7,910
– –
HBNC icon
1162
Horizon Bancorp
HBNC
$1.05B
$202K 0.01%
20,460
– –
OSUR icon
1163
OraSure Technologies
OSUR
$277M
$201K 0.01%
18,690
– –
BXP icon
1164
Boston Properties
BXP
$11B
$200K 0.01%
2,170
– –
HAL icon
1165
Halliburton
HAL
$27.4B
$200K 0.01%
29,160
+310
+1% +$5.4K
X
1166
DELISTED
US Steel
X
$200K 0.01%
31,670
– –
ATI icon
1167
ATI
ATI
$30.9B
$199K 0.01%
23,390
– –
BBT
1168
Beacon Financial Corp
BBT
$2.71B
$199K 0.01%
13,400
– –
TTEC icon
1169
TTEC Holdings
TTEC
$77.4M
$199K 0.01%
5,410
– –
TIF
1170
DELISTED
Tiffany & Co.
TIF
$199K 0.01%
1,540
– –
AMCX icon
1171
AMC Global Media
AMCX
$496M
$198K 0.01%
8,150
– –
ECPG icon
1172
Encore Capital Group
ECPG
$2.15B
$198K 0.01%
8,460
– –
HNI icon
1173
HNI Corp
HNI
$3.56B
$198K 0.01%
7,870
– –
CSR
1174
Centerspace
CSR
$939M
$197K 0.01%
+3,590
New +$257K
ATNI icon
1175
ATN International
ATNI
$491M
$196K 0.01%
3,330
– –
45 46
47
48 49

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VAS
Vestmark Advisory Solutions Wakefield, Massachusetts $9.02B AUM 20.58% 1-Year Est. Return
SFM
Soros Fund Management New York $9.12B AUM 30.69% 1-Year Est. Return
AI
Ariel Investments Chicago, Illinois $8.93B AUM 29.58% 1-Year Est. Return
PEA
Platinum Equity Advisors Beverly Hills, California $8.88B AUM 27.09% 1-Year Est. Return
SUT
SC US (TTGP) Menlo Park, California $9.25B AUM 20.49% 1-Year Est. Return
MU
Mirova US Boston, Massachusetts $8.81B AUM 21.38% 1-Year Est. Return
WPL
WINDACRE PARTNERSHIP LLC Houston, Texas $9.34B AUM 17.41% 1-Year Est. Return
PVI
Partners Value Investments Hamilton, Bermuda $9.34B AUM 12.2% 1-Year Est. Return

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.