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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
AVY icon
1376
Avery Dennison
AVY
$13.5B
$119K ﹤0.01%
1,170
– –
AVD icon
1377
American Vanguard Corp
AVD
$64.6M
$118K ﹤0.01%
8,130
– –
APEI icon
1378
American Public Education
APEI
$838M
$117K ﹤0.01%
4,910
– –
MYE icon
1379
Myers Industries
MYE
$1.26B
$117K ﹤0.01%
10,860
– –
ETFC
1380
DELISTED
E*Trade Financial Corporation
ETFC
$117K ﹤0.01%
3,420
-12,820
-79% -$542K
AM icon
1381
Antero Midstream
AM
$10.5B
$116K ﹤0.01%
55,020
– –
ANIP icon
1382
ANI Pharmaceuticals
ANIP
$1.72B
$116K ﹤0.01%
2,850
– –
EXTR icon
1383
Extreme Networks
EXTR
$3.21B
$116K ﹤0.01%
37,660
+1,050
+3% +$5.83K
LW icon
1384
Lamb Weston
LW
$7.43B
$116K ﹤0.01%
2,030
– –
MAC icon
1385
Macerich
MAC
$7.02B
$116K ﹤0.01%
20,680
+19,260
+1,356% +$383K
RYAM icon
1386
Rayonier Advanced Materials
RYAM
$570M
$116K ﹤0.01%
109,580
– –
MRO
1387
DELISTED
Marathon Oil Corporation
MRO
$116K ﹤0.01%
35,050
– –
PNTG icon
1388
Pennant Group
PNTG
$1.36B
$115K ﹤0.01%
8,105
+430
+6% +$10.9K
TR icon
1389
Tootsie Roll Industries
TR
$3.04B
$115K ﹤0.01%
3,813
– –
BOOT icon
1390
Boot Barn
BOOT
$4.98B
$114K ﹤0.01%
8,850
+140
+2% +$4.47K
PKG icon
1391
Packaging Corp of America
PKG
$22.9B
$114K ﹤0.01%
1,310
– –
OPB
1392
DELISTED
Opus Bank Common Stock
OPB
$114K ﹤0.01%
6,590
– –
QNST icon
1393
QuinStreet
QNST
$1.18B
$113K ﹤0.01%
14,040
– –
NPKI
1394
NPK International
NPKI
$1.19B
$113K ﹤0.01%
125,170
– –
ADTN icon
1395
Adtran
ADTN
$671M
$112K ﹤0.01%
14,630
– –
USAK
1396
DELISTED
USA Truck Inc
USAK
$112K ﹤0.01%
35,260
– –
BANC icon
1397
Banc of California
BANC
$3.13B
$111K ﹤0.01%
13,900
+300
+2% +$4.41K
JBHT icon
1398
JB Hunt Transport Services
JBHT
$26.5B
$111K ﹤0.01%
1,200
– –
CLW icon
1399
Clearwater Paper
CLW
$354M
$110K ﹤0.01%
5,050
– –
KREF
1400
KKR Real Estate Finance Trust
KREF
$496M
$110K ﹤0.01%
7,310
– –
54 55
56
57 58

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SFM
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AI
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HI
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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.