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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
DISCK
1451
DELISTED
Discovery, Inc. Series C Common Stock
DISCK
$88K ﹤0.01%
4,994
– –
USCR
1452
DELISTED
U S Concrete, Inc.
USCR
$88K ﹤0.01%
4,840
– –
MCS icon
1453
Marcus Corp
MCS
$927M
$87K ﹤0.01%
7,030
– –
FBIN icon
1454
Fortune Brands Innovations
FBIN
$5.83B
$86K ﹤0.01%
2,328
– –
HNRG icon
1455
Hallador Energy
HNRG
$726M
$86K ﹤0.01%
90,890
– –
IPG
1456
DELISTED
Interpublic Group of Companies
IPG
$86K ﹤0.01%
5,330
– –
CENT icon
1457
Central Garden & Pet Co
CENT
$2.79B
$85K ﹤0.01%
3,863
– –
CLDT
1458
Chatham Lodging
CLDT
$601M
$85K ﹤0.01%
14,360
– –
DBI icon
1459
Designer Brands
DBI
$308M
$85K ﹤0.01%
17,090
+360
+2% +$4.66K
GPMT
1460
Granite Point Mortgage Trust
GPMT
$58.8M
$85K ﹤0.01%
16,790
– –
TBRG
1461
DELISTED
TruBridge
TBRG
$85K ﹤0.01%
3,820
– –
FSB
1462
DELISTED
Franklin Financial Network, Inc.
FSB
$85K ﹤0.01%
4,150
+120
+3% +$3.82K
WT icon
1463
WisdomTree
WT
$3.4B
$84K ﹤0.01%
36,070
– –
TVTY
1464
DELISTED
Tivity Health, Inc. Common Stock
TVTY
$84K ﹤0.01%
13,385
+210
+2% +$3.39K
BJRI icon
1465
BJ's Restaurants
BJRI
$1.44B
$83K ﹤0.01%
5,940
+130
+2% +$4.18K
EAT icon
1466
Brinker International
EAT
$10.3B
$83K ﹤0.01%
6,880
– –
SENEA icon
1467
Seneca Foods Class A
SENEA
$1.31B
$83K ﹤0.01%
2,080
– –
DBD
1468
DELISTED
Diebold Nixdorf Incorporated
DBD
$83K ﹤0.01%
23,490
– –
CHX
1469
DELISTED
ChampionX
CHX
$82K ﹤0.01%
14,290
– –
WYNN icon
1470
Wynn Resorts
WYNN
$10.5B
$82K ﹤0.01%
1,360
– –
ASIX icon
1471
AdvanSix
ASIX
$440M
$81K ﹤0.01%
8,510
– –
SPPI
1472
DELISTED
Spectrum Pharmaceuticals Inc
SPPI
$80K ﹤0.01%
34,540
– –
HCI icon
1473
HCI Group
HCI
$2.31B
$79K ﹤0.01%
1,960
– –
PARR icon
1474
Par Pacific Holdings
PARR
$4.03B
$79K ﹤0.01%
11,240
– –
RC
1475
Ready Capital
RC
$292M
$79K ﹤0.01%
10,920
+1,540
+16% +$21.1K
57 58
59
60 61

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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.