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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
TWI icon
1576
Titan International
TWI
$451M
$23K ﹤0.01%
14,650
– –
BGG
1577
DELISTED
Briggs & Stratton Corp.
BGG
$23K ﹤0.01%
12,590
– –
COTY icon
1578
Coty
COTY
$2.47B
$21K ﹤0.01%
4,160
– –
UA icon
1579
Under Armour Class C
UA
$2.26B
$21K ﹤0.01%
2,581
– –
VTLE
1580
DELISTED
Vital Energy
VTLE
$21K ﹤0.01%
2,762
– –
RRD
1581
DELISTED
RR Donnelley & Sons Co.
RRD
$21K ﹤0.01%
21,460
– –
GAP
1582
The Gap Inc
GAP
$7.37B
$20K ﹤0.01%
2,870
– –
GPOR
1583
DELISTED
Gulfport Energy Corp.
GPOR
$20K ﹤0.01%
44,180
– –
WLL
1584
DELISTED
Whiting Petroleum Corporation
WLL
$19K ﹤0.01%
373
– –
PEI
1585
DELISTED
Pennsylvania Real Estate Investment Trust
PEI
$17K ﹤0.01%
1,218
– –
AKRX
1586
DELISTED
Akorn Inc
AKRX
$16K ﹤0.01%
28,950
– –
NWS icon
1587
News Corp Class B
NWS
$17.9B
$15K ﹤0.01%
1,660
– –
LXU icon
1588
LSB Industries
LXU
$711M
$14K ﹤0.01%
8,619
– –
ACOR
1589
DELISTED
Acorda Therapeutics
ACOR
$14K ﹤0.01%
121
– –
REI icon
1590
Ring Energy
REI
$347M
$12K ﹤0.01%
17,470
– –
TTI icon
1591
TETRA Technologies
TTI
$1.29B
$12K ﹤0.01%
36,850
– –
CBL
1592
DELISTED
CBL& Associates Properties, Inc.
CBL
$11K ﹤0.01%
52,590
– –
HPR
1593
DELISTED
HighPoint Resources Corporation
HPR
$6K ﹤0.01%
658
– –
KLXE icon
1594
KLX Energy Services
KLXE
$34.7M
$4K ﹤0.01%
1,260
– –
LLEN
1595
DELISTED
L & L ENERGY INC COM STK (NV)
LLEN
$1K ﹤0.01%
48,200
– –
ACN icon
1596
Accenture
ACN
$113B
– –
-28,150
Closed -$5.93M
ADNT icon
1597
Adient
ADNT
$1.49B
– –
-16,020
Closed -$340K
ALLE icon
1598
Allegion
ALLE
$14B
– –
-1,310
Closed -$163K
AON icon
1599
Aon
AON
$75.3B
– –
-3,380
Closed -$704K
APTV icon
1600
Aptiv
APTV
$10.1B
– –
-3,620
Closed -$344K
62 63
64
65 66

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SFM
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AI
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HI
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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.