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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
CZR icon
1226
Caesars Entertainment
CZR
$6.04B
$177K 0.01%
12,260
+140
+1% +$6.55K
FRD icon
1227
Friedman Industries
FRD
$319M
$177K 0.01%
40,070
– –
PETS icon
1228
PetMed Express
PETS
$43.4M
$177K 0.01%
6,160
– –
RWT
1229
Redwood Trust
RWT
$599M
$177K 0.01%
34,910
+610
+2% +$9.08K
ANF icon
1230
Abercrombie & Fitch
ANF
$4.84B
$176K 0.01%
19,320
– –
GBX icon
1231
The Greenbrier Companies
GBX
$1.42B
$176K 0.01%
9,940
– –
MKTX icon
1232
MarketAxess Holdings
MKTX
$5.72B
$176K 0.01%
530
– –
NXRT
1233
NexPoint Residential Trust
NXRT
$636M
$176K 0.01%
+6,980
New +$306K
ACH
1234
Accendra Health
ACH
$84.6M
$176K 0.01%
19,270
– –
CRS icon
1235
Carpenter Technology
CRS
$26.6B
$175K 0.01%
8,960
+190
+2% +$7.09K
MUR icon
1236
Murphy Oil
MUR
$4.99B
$175K 0.01%
28,590
– –
ADAM
1237
Adamas Trust
ADAM
$907M
$175K 0.01%
28,208
+6,203
+28% +$131K
LH icon
1238
Labcorp
LH
$26.2B
$174K 0.01%
1,606
– –
PPC icon
1239
Pilgrim's Pride
PPC
$6.57B
$174K 0.01%
9,600
– –
WDC icon
1240
Western Digital
WDC
$168B
$174K 0.01%
5,546
– –
DOV icon
1241
Dover
DOV
$27.8B
$173K 0.01%
2,060
– –
NAII icon
1242
Natural Alternatives International
NAII
$13.6M
$173K 0.01%
27,450
– –
TEX icon
1243
Terex
TEX
$7.57B
$173K 0.01%
12,050
– –
OSG
1244
Octave Specialty Group
OSG
$212M
$172K 0.01%
13,940
– –
SNBR
1245
DELISTED
Sleep Number
SNBR
$172K 0.01%
8,970
– –
UVE icon
1246
Universal Insurance Holdings
UVE
$1.18B
$172K 0.01%
9,620
– –
VRTS icon
1247
Virtus Investment Partners
VRTS
$1.14B
$172K 0.01%
2,260
+260
+13% +$29.3K
NVRI icon
1248
Enviri
NVRI
$564M
$171K 0.01%
24,570
– –
BGSF icon
1249
BGSF Inc
BGSF
$59.2M
$170K 0.01%
23,070
– –
IVR icon
1250
Invesco Mortgage Capital
IVR
$805M
$170K 0.01%
4,982
+612
+14% +$89.9K
48 49
50
51 52

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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.