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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
INCY icon
1201
Incyte
INCY
$24.4B
$185K 0.01%
2,530
– –
LDOS icon
1202
Leidos
LDOS
$17.9B
$185K 0.01%
2,020
– –
URBN icon
1203
Urban Outfitters
URBN
$6.53B
$185K 0.01%
12,980
– –
SIX
1204
DELISTED
Six Flags Entertainment Corp.
SIX
$185K 0.01%
14,750
+200
+1% +$5.95K
AHRT
1205
AH Realty Trust
AHRT
$506M
$184K 0.01%
17,170
+960
+6% +$15.6K
MD icon
1206
Pediatrix Medical
MD
$2.14B
$184K 0.01%
15,820
+330
+2% +$6.81K
BPFH
1207
DELISTED
Boston Private Financial Holdings, Inc.
BPFH
$184K 0.01%
25,680
– –
CNX icon
1208
CNX Resources
CNX
$5.23B
$183K 0.01%
34,410
– –
HRL icon
1209
Hormel Foods
HRL
$13.4B
$183K 0.01%
3,930
– –
SNEX icon
1210
StoneX
SNEX
$8.05B
$183K 0.01%
25,566
+557
+2% +$4.94K
AVTA
1211
DELISTED
Avantax, Inc. Common Stock
AVTA
$183K 0.01%
15,160
+210
+1% +$4.05K
BFH icon
1212
Bread Financial
BFH
$4.51B
$182K 0.01%
6,766
– –
FLR icon
1213
Fluor
FLR
$7B
$182K 0.01%
26,310
+570
+2% +$7.96K
HBI
1214
DELISTED
Hanesbrands
HBI
$182K 0.01%
23,120
– –
ACLS icon
1215
Axcelis
ACLS
$4.42B
$181K 0.01%
9,890
– –
OSPN icon
1216
OneSpan
OSPN
$624M
$180K 0.01%
9,900
– –
AIR icon
1217
AAR Corp
AIR
$5.77B
$179K 0.01%
10,090
– –
ODFL icon
1218
Old Dominion Freight Line
ODFL
$44.7B
$179K 0.01%
2,730
– –
SBH icon
1219
Sally Beauty Holdings
SBH
$1.55B
$179K 0.01%
22,180
– –
WOR icon
1220
Worthington Enterprises
WOR
$2.85B
$179K 0.01%
11,030
– –
WY icon
1221
Weyerhaeuser
WY
$17.9B
$179K 0.01%
10,558
– –
EXR icon
1222
Extra Space Storage
EXR
$31.6B
$178K 0.01%
1,860
+70
+4% +$7.29K
HNGR
1223
DELISTED
Hanger Inc.
HNGR
$178K 0.01%
11,420
– –
KSU
1224
DELISTED
Kansas City Southern
KSU
$178K 0.01%
1,400
– –
ALGN icon
1225
Align Technology
ALGN
$12.5B
$177K 0.01%
1,020
– –
47 48
49
50 51

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VAS
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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.