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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
TACO
1401
DELISTED
Del Taco Restaurants, Inc. Common Stock
TACO
$110K ﹤0.01%
32,050
– –
NPK icon
1402
National Presto Industries
NPK
$983M
$109K ﹤0.01%
1,540
– –
REZI icon
1403
Resideo Technologies
REZI
$3.17B
$109K ﹤0.01%
22,530
– –
CRMT icon
1404
America's Car Mart
CRMT
$26.6M
$108K ﹤0.01%
+1,910
New +$187K
MGPI icon
1405
MGP Ingredients
MGPI
$387M
$108K ﹤0.01%
4,030
– –
WU icon
1406
Western Union
WU
$2.27B
$108K ﹤0.01%
5,950
– –
HOUS
1407
DELISTED
Anywhere Real Estate
HOUS
$107K ﹤0.01%
35,420
+430
+1% +$3.79K
PBI icon
1408
Pitney Bowes
PBI
$2.3B
$107K ﹤0.01%
52,300
– –
WRB icon
1409
W.R. Berkley
WRB
$26B
$107K ﹤0.01%
4,635
– –
HII icon
1410
Huntington Ingalls Industries
HII
$12.8B
$106K ﹤0.01%
580
– –
HAFC icon
1411
Hanmi Financial
HAFC
$964M
$105K ﹤0.01%
9,640
+240
+3% +$3.83K
TGI
1412
DELISTED
Triumph Group
TGI
$105K ﹤0.01%
15,520
+200
+1% +$3.65K
EBIX
1413
DELISTED
Ebix Inc
EBIX
$105K ﹤0.01%
6,900
+150
+2% +$4.28K
AGYS icon
1414
Agilysys
AGYS
$3.04B
$104K ﹤0.01%
6,230
– –
DVA icon
1415
DaVita
DVA
$11.5B
$104K ﹤0.01%
1,370
– –
DNOW icon
1416
DNOW Inc
DNOW
$2.98B
$103K ﹤0.01%
20,050
– –
GIII icon
1417
G-III Apparel Group
GIII
$1.43B
$103K ﹤0.01%
13,330
+180
+1% +$4.1K
GL icon
1418
Globe Life
GL
$14B
$103K ﹤0.01%
1,430
– –
BOOM icon
1419
DMC Global
BOOM
$154M
$102K ﹤0.01%
4,440
– –
MCRI icon
1420
Monarch Casino & Resort
MCRI
$2.17B
$102K ﹤0.01%
3,650
– –
POLY
1421
DELISTED
Plantronics, Inc.
POLY
$102K ﹤0.01%
10,140
+4,190
+70% +$78.2K
PDFS icon
1422
PDF Solutions
PDFS
$2.15B
$100K ﹤0.01%
8,540
– –
BBBY
1423
DELISTED
Bed Bath & Beyond Inc
BBBY
$100K ﹤0.01%
23,700
– –
PGNX
1424
DELISTED
Progenics Pharmaceuticals Inc
PGNX
$100K ﹤0.01%
26,200
– –
ESTE
1425
DELISTED
Earthstone Energy Inc. Class A Common Stock
ESTE
$100K ﹤0.01%
56,850
– –
55 56
57
58 59

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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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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.