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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
COO icon
1176
Cooper Companies
COO
$14.9B
$196K 0.01%
2,840
+80
+3% +$6.51K
UIS icon
1177
Unisys
UIS
$210M
$196K 0.01%
15,840
– –
FRC
1178
DELISTED
First Republic Bank
FRC
$196K 0.01%
2,380
– –
MMI icon
1179
Marcus & Millichap
MMI
$1.2B
$195K 0.01%
7,180
– –
AORT icon
1180
Artivion
AORT
$1.39B
$194K 0.01%
11,480
– –
STC icon
1181
Stewart Information Services
STC
$2.07B
$194K 0.01%
7,260
– –
TPR icon
1182
Tapestry
TPR
$25.9B
$194K 0.01%
15,010
– –
ACRE
1183
Ares Commercial Real Estate
ACRE
$264M
$193K 0.01%
27,650
– –
PATK icon
1184
Patrick Industries
PATK
$2.78B
$193K 0.01%
10,298
– –
BLMN icon
1185
Bloomin' Brands
BLMN
$924M
$192K 0.01%
26,910
+340
+1% +$5.92K
MODV
1186
DELISTED
ModivCare
MODV
$192K 0.01%
3,500
– –
COR icon
1187
Cencora
COR
$59.2B
$191K 0.01%
2,160
– –
OXM icon
1188
Oxford Industries
OXM
$542M
$191K 0.01%
5,280
+70
+1% +$4.29K
SSTK icon
1189
Shutterstock
SSTK
$217M
$191K 0.01%
5,930
+150
+3% +$6K
TTWO icon
1190
Take-Two Interactive
TTWO
$45.2B
$191K 0.01%
1,610
– –
UE icon
1191
Urban Edge Properties
UE
$2.78B
$190K 0.01%
21,610
+430
+2% +$7.06K
ETRN
1192
DELISTED
Equitrans Midstream Corporation Common Stock
ETRN
$189K 0.01%
37,540
– –
BBY icon
1193
Best Buy
BBY
$18B
$188K 0.01%
3,290
– –
FSP
1194
Franklin Street Properties
FSP
$46.4M
$188K 0.01%
32,820
– –
HSTM icon
1195
HealthStream
HSTM
$849M
$188K 0.01%
7,830
– –
AMCR icon
1196
Amcor
AMCR
$21.4B
$187K 0.01%
4,604
– –
ANDE icon
1197
Andersons Inc
ANDE
$2.21B
$187K 0.01%
9,980
– –
HPE icon
1198
Hewlett Packard
HPE
$79.2B
$187K 0.01%
19,260
– –
SXI icon
1199
Standex International
SXI
$3.97B
$187K 0.01%
3,810
– –
PDCE
1200
DELISTED
PDC Energy, Inc.
PDCE
$187K 0.01%
30,074
+12,054
+67% +$217K
46 47
48
49 50

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SFM
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AI
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PEA
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WPL
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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.