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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
M icon
1426
Macy's
M
$6.24B
$99K ﹤0.01%
20,150
– –
SAH icon
1427
Sonic Automotive
SAH
$2.53B
$99K ﹤0.01%
7,420
– –
CUBI icon
1428
Customers Bancorp
CUBI
$2.82B
$98K ﹤0.01%
8,930
+220
+3% +$4.26K
FNKO icon
1429
Funko
FNKO
$337M
$98K ﹤0.01%
24,590
– –
CNSL
1430
DELISTED
Consolidated Communications Holdings, Inc.
CNSL
$98K ﹤0.01%
21,570
– –
BSET icon
1431
Bassett Furniture
BSET
$171M
$97K ﹤0.01%
17,840
– –
LNW
1432
DELISTED
Light & Wonder
LNW
$96K ﹤0.01%
9,910
– –
AAP icon
1433
Advance Auto Parts
AAP
$3.42B
$94K ﹤0.01%
1,010
– –
FORR icon
1434
Forrester Research
FORR
$223M
$94K ﹤0.01%
3,210
– –
IRM icon
1435
Iron Mountain
IRM
$37.6B
$94K ﹤0.01%
3,970
– –
UAA icon
1436
Under Armour
UAA
$2.3B
$94K ﹤0.01%
10,180
– –
WMC
1437
DELISTED
Western Asset Mortgage Capital Corporation
WMC
$94K ﹤0.01%
4,089
– –
DRI icon
1438
Darden Restaurants
DRI
$25.3B
$93K ﹤0.01%
1,710
– –
PLCE icon
1439
Children's Place
PLCE
$53.8M
$93K ﹤0.01%
4,770
– –
DSPG
1440
DELISTED
DSP Group Inc
DSPG
$93K ﹤0.01%
6,950
– –
LYV icon
1441
Live Nation Entertainment
LYV
$43.3B
$92K ﹤0.01%
2,020
-23,780
-92% -$1.47M
WRLD icon
1442
World Acceptance Corp
WRLD
$892M
$92K ﹤0.01%
1,680
– –
FFIV icon
1443
F5
FFIV
$23.7B
$91K ﹤0.01%
850
– –
OII icon
1444
Oceaneering
OII
$5.11B
$90K ﹤0.01%
30,650
+370
+1% +$3.86K
REG icon
1445
Regency Centers
REG
$14.1B
$90K ﹤0.01%
2,350
– –
ABMD
1446
DELISTED
Abiomed Inc
ABMD
$90K ﹤0.01%
620
– –
MDP
1447
DELISTED
Meredith Corporation
MDP
$90K ﹤0.01%
7,350
– –
MERC icon
1448
Mercer International
MERC
$33.9M
$89K ﹤0.01%
12,250
– –
GES
1449
DELISTED
Guess Inc
GES
$88K ﹤0.01%
13,050
– –
PTEN icon
1450
Patterson-UTI
PTEN
$4.17B
$88K ﹤0.01%
37,580
– –
56 57
58
59 60

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SFM
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AI
Ariel Investments Chicago, Illinois $8.93B AUM 29.58% 1-Year Est. Return
HI
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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.