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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
DNKN
301
DELISTED
Dunkin' Brands Group, Inc.
DNKN
$826K 0.03%
15,550
+210
+1% +$14.6K
FLG
302
Flagstar Bank National Association
FLG
$5.94B
$824K 0.03%
29,237
+340
+1% +$11.3K
ISRG icon
303
Intuitive Surgical
ISRG
$141B
$822K 0.03%
4,980
+90
+2% +$16.5K
BKNG icon
304
Booking.com
BKNG
$160B
$821K 0.03%
15,250
– –
OSK icon
305
Oshkosh
OSK
$9.42B
$821K 0.03%
12,770
+80
+0.6% +$6.27K
AXE
306
DELISTED
Anixter International Inc
AXE
$820K 0.03%
9,330
+140
+2% +$13.2K
COR
307
DELISTED
Coresite Realty Corporation
COR
$819K 0.03%
7,070
+230
+3% +$25.6K
ORI icon
308
Old Republic International
ORI
$10.3B
$817K 0.03%
53,550
+680
+1% +$14K
SBNY
309
DELISTED
Signature Bank
SBNY
$816K 0.03%
10,150
– –
CL icon
310
Colgate-Palmolive
CL
$73.8B
$815K 0.03%
12,280
+120
+1% +$8.46K
STT icon
311
State Street
STT
$52.2B
$812K 0.03%
15,230
– –
GLW icon
312
Corning
GLW
$143B
$811K 0.03%
39,510
– –
MDU icon
313
MDU Resources
MDU
$4.3B
$809K 0.03%
98,910
+1,815
+2% +$19.1K
RYZ
314
Ryerson Holding Corp
RYZ
$1.49B
$808K 0.03%
151,840
– –
CUZ icon
315
Cousins Properties
CUZ
$4.9B
$806K 0.03%
27,540
+320
+1% +$11.9K
POWI icon
316
Power Integrations
POWI
$3.53B
$805K 0.03%
18,220
+260
+1% +$12.6K
ZTS icon
317
Zoetis
ZTS
$30.7B
$804K 0.03%
6,830
+60
+0.9% +$7.9K
ARW icon
318
Arrow Electronics
ARW
$10.7B
$800K 0.03%
15,420
– –
VIAV icon
319
Viavi Solutions
VIAV
$10.7B
$798K 0.03%
71,190
+1,150
+2% +$15.6K
PBCT
320
DELISTED
People's United Financial Inc
PBCT
$794K 0.03%
71,840
– –
OC icon
321
Owens Corning
OC
$12.4B
$793K 0.03%
20,420
+240
+1% +$13.4K
FR icon
322
First Industrial Realty Trust
FR
$8.43B
$792K 0.03%
23,820
+360
+2% +$14.3K
LECO icon
323
Lincoln Electric
LECO
$15.3B
$791K 0.03%
11,460
– –
AXON
324
Axon Enterprise
AXON
$49.1B
$788K 0.02%
11,140
+150
+1% +$11.2K
EBS icon
325
Emergent Biosolutions
EBS
$239M
$786K 0.02%
13,590
+170
+1% +$9.8K
11 12
13
14 15

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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.