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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
BMY.RT
1551
DELISTED
Bristol-Myers Squibb Company Contingent Value Rights
BMY.RT
$38K ﹤0.01%
10,040
– –
DO
1552
DELISTED
Diamond Offshore Drilling
DO
$36K ﹤0.01%
19,810
– –
TALO icon
1553
Talos Energy
TALO
$2.54B
$35K ﹤0.01%
6,080
– –
LDL
1554
DELISTED
Lydall, Inc.
LDL
$35K ﹤0.01%
5,370
– –
RRGB icon
1555
Red Robin
RRGB
$191M
$34K ﹤0.01%
3,970
– –
KSS icon
1556
Kohl's
KSS
$2.19B
$33K ﹤0.01%
2,290
– –
RES icon
1557
RPC Inc
RES
$1.38B
$32K ﹤0.01%
15,450
– –
JCP
1558
DELISTED
J.C. Penney Company, Inc.
JCP
$32K ﹤0.01%
89,640
– –
CHRD icon
1559
Chord Energy
CHRD
$7.33B
$31K ﹤0.01%
89,590
+36,130
+68% +$66.2K
LQDT icon
1560
Liquidity Services
LQDT
$1.35B
$31K ﹤0.01%
8,070
– –
AMPY icon
1561
Amplify Energy
AMPY
$206M
$30K ﹤0.01%
53,860
– –
BELFB
1562
Bel Fuse Inc Class B
BELFB
$4.24B
$30K ﹤0.01%
3,100
– –
CNR
1563
Core Natural Resources Inc
CNR
$4.65B
$30K ﹤0.01%
8,210
– –
EXPR
1564
DELISTED
Express, Inc.
EXPR
$30K ﹤0.01%
1,009
– –
VRTV
1565
DELISTED
VERITIV CORPORATION
VRTV
$30K ﹤0.01%
3,870
– –
DNR
1566
DELISTED
Denbury Resources, Inc.
DNR
$28K ﹤0.01%
152,640
+10,270
+7% +$8.59K
VAL
1567
DELISTED
Valaris plc Class A Ordinary Share
VAL
$27K ﹤0.01%
60,560
– –
GEOS icon
1568
Geospace Technologies
GEOS
$66.2M
$26K ﹤0.01%
4,080
– –
FRGI
1569
DELISTED
Fiesta Restaurant Group, Inc.
FRGI
$26K ﹤0.01%
6,430
– –
TLRD
1570
DELISTED
Tailored Brands, Inc.
TLRD
$26K ﹤0.01%
15,120
– –
TUP
1571
DELISTED
Tupperware Brands Corporation
TUP
$24K ﹤0.01%
14,640
– –
CDR
1572
DELISTED
Cedar Realty Trust, Inc
CDR
$24K ﹤0.01%
3,918
– –
QEP
1573
DELISTED
QEP RESOURCES, INC.
QEP
$24K ﹤0.01%
72,810
– –
HP icon
1574
Helmerich & Payne
HP
$4.26B
$23K ﹤0.01%
1,470
– –
JWN
1575
DELISTED
Nordstrom
JWN
$23K ﹤0.01%
1,530
– –
61 62
63
64 65

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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.