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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
OMC icon
1251
Omnicom Group
OMC
$24.2B
$170K 0.01%
3,100
– –
UCTT
1252
Ultra Clean Holdings
UCTT
$4.21B
$170K 0.01%
12,330
+230
+2% +$4.88K
BIG
1253
DELISTED
Big Lots, Inc.
BIG
$170K 0.01%
11,940
– –
APOG icon
1254
Apogee Enterprises
APOG
$888M
$169K 0.01%
8,120
– –
AEGN
1255
DELISTED
Aegion Corp
AEGN
$169K 0.01%
9,450
– –
CEVA icon
1256
CEVA Inc
CEVA
$855M
$168K 0.01%
6,720
– –
HCC icon
1257
Warrior Met Coal
HCC
$4.98B
$168K 0.01%
15,780
– –
MAA icon
1258
Mid-America Apartment Communities
MAA
$15.6B
$167K 0.01%
1,620
– –
MLM icon
1259
Martin Marietta Materials
MLM
$32.7B
$167K 0.01%
880
– –
SVC
1260
Service Properties Trust
SVC
$1.06B
$167K 0.01%
6,176
+76
+1% +$6.82K
WAT icon
1261
Waters Corp
WAT
$40.6B
$167K 0.01%
920
-100
-10% -$21.1K
XYL icon
1262
Xylem
XYL
$28.1B
$167K 0.01%
2,560
– –
MAGN
1263
Magnera Corp
MAGN
$433M
$167K 0.01%
1,052
+22
+2% +$4.33K
ATO icon
1264
Atmos Energy
ATO
$28.7B
$166K 0.01%
1,670
– –
DOC icon
1265
Healthpeak Properties
DOC
$14.3B
$166K 0.01%
6,960
– –
MCHB
1266
Mechanics Bancorp
MCHB
$3.79B
$166K 0.01%
7,470
– –
JKHY icon
1267
Jack Henry & Associates
JKHY
$11.1B
$166K 0.01%
1,070
– –
PXD
1268
DELISTED
Pioneer Natural Resource Co.
PXD
$166K 0.01%
2,360
– –
DRE
1269
DELISTED
Duke Realty Corp.
DRE
$166K 0.01%
5,120
– –
EGLE
1270
DELISTED
Eagle Bulk Shipping Inc.
EGLE
$166K 0.01%
12,830
– –
GFF icon
1271
Griffon
GFF
$4.8B
$165K 0.01%
13,030
– –
SCSC icon
1272
Scansource
SCSC
$1.06B
$165K 0.01%
7,720
– –
JOE icon
1273
St. Joe Company
JOE
$3.89B
$164K 0.01%
9,760
– –
EGY icon
1274
Vaalco Energy
EGY
$592M
$163K 0.01%
180,690
– –
LNT icon
1275
Alliant Energy
LNT
$18.2B
$163K 0.01%
3,370
– –
49 50
51
52 53

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SFM
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AI
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PEA
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SUT
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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.