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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
SPGI icon
276
S&P Global
SPGI
$123B
$855K 0.03%
3,490
– –
WDFC icon
277
WD-40
WDFC
$3.12B
$854K 0.03%
4,250
+50
+1% +$9.42K
KFRC icon
278
Kforce
KFRC
$1.04B
$852K 0.03%
33,310
– –
OMCL icon
279
Omnicell
OMCL
$1.7B
$852K 0.03%
12,990
+240
+2% +$19.1K
PLD icon
280
Prologis
PLD
$134B
$850K 0.03%
10,580
+1,640
+18% +$143K
RGEN icon
281
Repligen
RGEN
$9.41B
$849K 0.03%
8,790
+190
+2% +$18.3K
WEX icon
282
WEX
WEX
$6.66B
$849K 0.03%
8,120
+90
+1% +$16.8K
ADP icon
283
Automatic Data Processing
ADP
$107B
$847K 0.03%
6,200
+50
+0.8% +$8.06K
DGX icon
284
Quest Diagnostics
DGX
$26.1B
$846K 0.03%
10,540
– –
FCN icon
285
FTI Consulting
FCN
$4.15B
$846K 0.03%
7,060
+100
+1% +$11.8K
XPO icon
286
XPO
XPO
$25B
$844K 0.03%
50,079
+636
+1% +$17K
NUE icon
287
Nucor
NUE
$61.9B
$840K 0.03%
23,330
– –
LEA icon
288
Lear
LEA
$8.11B
$839K 0.03%
+10,330
New +$1.19M
MXIM
289
DELISTED
Maxim Integrated Products
MXIM
$839K 0.03%
17,250
– –
AMN icon
290
AMN Healthcare
AMN
$1.3B
$837K 0.03%
14,470
+190
+1% +$13K
SJM icon
291
J.M. Smucker
SJM
$12.8B
$837K 0.03%
7,540
– –
MKSI icon
292
MKS Inc
MKSI
$21.4B
$833K 0.03%
10,230
+120
+1% +$12.3K
TJX icon
293
TJX Companies
TJX
$168B
$831K 0.03%
17,380
+240
+1% +$13.8K
SRCL
294
DELISTED
Stericycle Inc
SRCL
$831K 0.03%
17,100
+200
+1% +$11.8K
IDA icon
295
Idacorp
IDA
$8.14B
$830K 0.03%
9,460
+110
+1% +$11.3K
NYT icon
296
New York Times
NYT
$10.3B
$829K 0.03%
26,980
+320
+1% +$11K
LAMR icon
297
Lamar Advertising Co
LAMR
$15.9B
$828K 0.03%
16,140
+200
+1% +$16.1K
OGS icon
298
ONE Gas
OGS
$5.09B
$828K 0.03%
9,900
+120
+1% +$10.6K
CVBF icon
299
CVB Financial
CVBF
$4.08B
$827K 0.03%
41,230
+490
+1% +$9.86K
LSI
300
DELISTED
Life Storage, Inc.
LSI
$827K 0.03%
13,125
+150
+1% +$10.7K
10 11
12
13 14

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SFM
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AI
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HI
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PEA
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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.