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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
TSCO icon
1326
Tractor Supply
TSCO
$18.8B
$142K ﹤0.01%
8,400
– –
VTR icon
1327
Ventas
VTR
$46.2B
$142K ﹤0.01%
5,280
– –
FANG icon
1328
Diamondback Energy
FANG
$55.7B
$141K ﹤0.01%
5,370
– –
NTAP icon
1329
NetApp
NTAP
$40.3B
$141K ﹤0.01%
3,390
– –
PAYC icon
1330
Paycom
PAYC
$10B
$141K ﹤0.01%
+700
New +$192K
ZBRA icon
1331
Zebra Technologies
ZBRA
$18B
$141K ﹤0.01%
770
-9,270
-92% -$2.08M
CPF icon
1332
Central Pacific Financial
CPF
$1B
$139K ﹤0.01%
8,740
– –
CBOE icon
1333
Cboe Global Markets
CBOE
$30.5B
$138K ﹤0.01%
1,550
– –
SRDX
1334
DELISTED
Surmodics
SRDX
$138K ﹤0.01%
4,130
– –
ARCB icon
1335
ArcBest
ARCB
$3.32B
$137K ﹤0.01%
7,810
– –
INN
1336
Summit Hotel Properties
INN
$653M
$137K ﹤0.01%
32,580
+410
+1% +$3.86K
CVGI icon
1337
Commercial Vehicle Group
CVGI
$129M
$136K ﹤0.01%
90,360
– –
RDNT icon
1338
RadNet
RDNT
$6.1B
$136K ﹤0.01%
12,930
+320
+3% +$6.03K
TILE icon
1339
Interface
TILE
$2.24B
$135K ﹤0.01%
17,880
– –
PBF icon
1340
PBF Energy
PBF
$8.78B
$134K ﹤0.01%
18,900
– –
PRSU
1341
Pursuit Attractions and Hospitality Inc
PRSU
$1.29B
$134K ﹤0.01%
6,300
+80
+1% +$4.12K
DVN icon
1342
Devon Energy
DVN
$48.9B
$133K ﹤0.01%
19,380
– –
HOLX
1343
DELISTED
Hologic
HOLX
$133K ﹤0.01%
3,800
– –
TLYS icon
1344
Tilly's
TLYS
$123M
$133K ﹤0.01%
32,110
– –
CE icon
1345
Celanese
CE
$4.86B
$132K ﹤0.01%
1,800
– –
L icon
1346
Loews
L
$23.1B
$132K ﹤0.01%
3,790
– –
LUMN icon
1347
Lumen
LUMN
$6.67B
$132K ﹤0.01%
13,913
– –
NI icon
1348
NiSource
NI
$20.2B
$132K ﹤0.01%
5,290
– –
VAR
1349
DELISTED
Varian Medical Systems, Inc.
VAR
$132K ﹤0.01%
1,290
– –
CAKE icon
1350
Cheesecake Factory
CAKE
$5.61B
$129K ﹤0.01%
7,530
– –
52 53
54
55 56

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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
HI
Horizon Investments Charlotte, North Carolina $8.92B AUM 25.62% 1-Year Est. Return
PEA
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SUT
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MU
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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.