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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
SYY icon
226
Sysco
SYY
$40.5B
$947K 0.03%
20,750
– –
DAY
227
DELISTED
Dayforce
DAY
$947K 0.03%
18,910
+540
+3% +$35.8K
INGR icon
228
Ingredion
INGR
$6.62B
$946K 0.03%
12,530
+150
+1% +$12.9K
DEI icon
229
Douglas Emmett
DEI
$1.99B
$944K 0.03%
30,930
+370
+1% +$14.4K
CBU icon
230
Community Bank
CBU
$3.45B
$942K 0.03%
16,020
+230
+1% +$14.9K
CBZ icon
231
CBIZ
CBZ
$2.96B
$942K 0.03%
45,020
– –
LOW icon
232
Lowe's Companies
LOW
$121B
$941K 0.03%
10,940
– –
UPS icon
233
United Parcel Service
UPS
$89.6B
$938K 0.03%
10,040
+140
+1% +$14.5K
AJRD
234
DELISTED
Aerojet Rocketdyne Holdings
AJRD
$938K 0.03%
22,430
+280
+1% +$13.8K
ROK icon
235
Rockwell Automation
ROK
$49.6B
$936K 0.03%
6,200
– –
AWR icon
236
American States Water
AWR
$3.51B
$933K 0.03%
11,410
+140
+1% +$12K
AZO icon
237
AutoZone
AZO
$49.7B
$922K 0.03%
1,090
– –
RVTY icon
238
Revvity
RVTY
$13B
$918K 0.03%
12,200
– –
STLD icon
239
Steel Dynamics
STLD
$37.7B
$918K 0.03%
40,740
– –
ATVI
240
DELISTED
Activision Blizzard
ATVI
$917K 0.03%
15,420
+140
+0.9% +$8.31K
CASY icon
241
Casey's General Stores
CASY
$31.5B
$914K 0.03%
6,900
+80
+1% +$13K
DCI icon
242
Donaldson
DCI
$11.1B
$914K 0.03%
23,650
– –
CNC icon
243
Centene
CNC
$32.8B
$911K 0.03%
15,339
+2,569
+20% +$156K
RJF icon
244
Raymond James Financial
RJF
$34.5B
$908K 0.03%
21,570
– –
AIV
245
Aimco
AIV
$378M
$906K 0.03%
193,375
– –
CNP icon
246
CenterPoint Energy
CNP
$26.7B
$903K 0.03%
58,430
– –
GBCI icon
247
Glacier Bancorp
GBCI
$6.48B
$903K 0.03%
26,560
+340
+1% +$13.5K
HST icon
248
Host Hotels & Resorts
HST
$15.7B
$901K 0.03%
81,680
– –
QLYS icon
249
Qualys
QLYS
$6.5B
$899K 0.03%
10,330
– –
GM icon
250
General Motors
GM
$76.1B
$896K 0.03%
43,130
+220
+0.5% +$6.72K
8 9
10
11 12

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VAS
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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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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.