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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
TFX icon
351
Teleflex
TFX
$5.76B
$747K 0.02%
2,550
– –
MRCY icon
352
Mercury Systems
MRCY
$6.6B
$743K 0.02%
10,420
+130
+1% +$9.85K
AMP icon
353
Ameriprise Financial
AMP
$50.1B
$741K 0.02%
7,230
– –
FLO icon
354
Flowers Foods
FLO
$1.6B
$741K 0.02%
36,120
+420
+1% +$9.16K
CW icon
355
Curtiss-Wright
CW
$25.6B
$740K 0.02%
8,010
+80
+1% +$10.3K
JNPR
356
DELISTED
Juniper Networks
JNPR
$740K 0.02%
38,690
– –
LM
357
DELISTED
Legg Mason, Inc.
LM
$739K 0.02%
15,130
– –
BKH icon
358
Black Hills Corp
BKH
$5.64B
$738K 0.02%
11,530
+200
+2% +$15.1K
RDUS
359
DELISTED
Radius Recycling
RDUS
$737K 0.02%
56,500
– –
FIVE icon
360
Five Below
FIVE
$13.5B
$735K 0.02%
10,450
+120
+1% +$12.2K
GWW icon
361
W.W. Grainger
GWW
$61.9B
$735K 0.02%
2,960
– –
UPBD icon
362
Upbound Group
UPBD
$1.14B
$731K 0.02%
51,690
+320
+0.6% +$7.7K
BEN icon
363
Franklin Resources
BEN
$17.2B
$729K 0.02%
43,720
– –
CCS icon
364
Century Communities
CCS
$2.02B
$729K 0.02%
50,230
+340
+0.7% +$9.72K
JBTM
365
JBT Marel
JBTM
$6.09B
$729K 0.02%
9,810
+120
+1% +$12K
ICUI icon
366
ICU Medical
ICUI
$4.55B
$728K 0.02%
3,610
+40
+1% +$7.7K
NATI
367
DELISTED
National Instruments Corp
NATI
$728K 0.02%
22,020
– –
WING icon
368
Wingstop
WING
$3.1B
$727K 0.02%
9,120
+110
+1% +$9.42K
AMD icon
369
Advanced Micro Devices
AMD
$801B
$726K 0.02%
15,960
+580
+4% +$27.9K
CAH icon
370
Cardinal Health
CAH
$54B
$724K 0.02%
15,100
– –
MLR icon
371
Miller Industries
MLR
$633M
$724K 0.02%
25,610
– –
WTS icon
372
Watts Water Technologies
WTS
$12.8B
$724K 0.02%
8,550
+90
+1% +$8.62K
VRS
373
DELISTED
Verso Corporation
VRS
$724K 0.02%
64,200
– –
TTEK icon
374
Tetra Tech
TTEK
$9.18B
$723K 0.02%
51,200
+500
+1% +$8.52K
CASH icon
375
Pathward Financial
CASH
$1.79B
$719K 0.02%
33,080
– –
13 14
15
16 17

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VAS
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SFM
Soros Fund Management New York $9.12B AUM 30.69% 1-Year Est. Return
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.