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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
NCLH icon
1626
Norwegian Cruise Line
NCLH
$8.91B
– –
-18,950
Closed -$1.11M
NVT icon
1627
nVent Electric
NVT
$27.5B
– –
-28,860
Closed -$738K
PNR icon
1628
Pentair
PNR
$10.5B
– –
-21,240
Closed -$974K
PRGO icon
1629
Perrigo
PRGO
$1.8B
– –
-6,450
Closed -$334K
RCL icon
1630
Royal Caribbean
RCL
$83.5B
– –
-8,790
Closed -$1.17M
RIG icon
1631
Transocean
RIG
$6.42B
– –
-106,670
Closed -$734K
RNR icon
1632
RenaissanceRe
RNR
$13.3B
– –
-8,190
Closed -$1.6M
SIG icon
1633
Signet Jewelers
SIG
$3.64B
– –
-15,990
Closed -$348K
SPNT icon
1634
SiriusPoint
SPNT
$2.68B
– –
-24,460
Closed -$257K
SPTI icon
1635
State Street SPDR Portfolio Intermediate Term Treasury ETF
SPTI
$10.6B
– –
-7,295,861
Closed -$226M
SPTL icon
1636
State Street SPDR Portfolio Long Term Treasury ETF
SPTL
$10.8B
– –
-1,700,106
Closed -$66.1M
STE icon
1637
Steris
STE
$23.1B
– –
-15,710
Closed -$2.4M
STX icon
1638
Seagate
STX
$202B
– –
-10,960
Closed -$652K
TEL icon
1639
TE Connectivity
TEL
$62.5B
– –
-4,760
Closed -$456K
TSE
1640
DELISTED
Trinseo
TSE
– –
-12,300
Closed -$458K
TT icon
1641
Trane Technologies
TT
$105B
– –
-3,430
Closed -$456K
VGIT icon
1642
Vanguard Intermediate-Term Treasury ETF
VGIT
$42.6B
– –
-902,877
Closed -$59.5M
VTRS icon
1643
Viatris
VTRS
$18.7B
– –
-19,880
Closed -$400K
WTW icon
1644
Willis Towers Watson
WTW
$31.6B
– –
-1,810
Closed -$366K
PENG
1645
Penguin Solutions Inc
PENG
$3.14B
– –
-109,980
Closed -$2.09M
ENDP
1646
DELISTED
Endo International plc
ENDP
– –
-61,660
Closed -$289K
INFO
1647
DELISTED
IHS Markit Ltd. Common Shares
INFO
– –
-5,680
Closed -$428K
DVD
1648
DELISTED
Dover Motorsports
DVD
– –
-165,430
Closed -$308K
ALSK
1649
DELISTED
Alaska Communications Systems
ALSK
– –
-225,890
Closed -$400K
CATM
1650
DELISTED
Cardtronics plc Class A Ordinary Shares (UK)
CATM
– –
-11,230
Closed -$501K
63 64 65
66
67

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VAS
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SFM
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AI
Ariel Investments Chicago, Illinois $8.93B AUM 29.58% 1-Year Est. Return
HI
Horizon Investments Charlotte, North Carolina $8.92B AUM 25.62% 1-Year Est. Return
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.