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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
WOLF icon
376
Wolfspeed
WOLF
$1.63B
$717K 0.02%
20,210
+370
+2% +$16.6K
UNF icon
377
Unifirst Corp
UNF
$5.23B
$716K 0.02%
4,740
+40
+0.9% +$7.55K
SJI
378
DELISTED
South Jersey Industries, Inc.
SJI
$716K 0.02%
28,620
+350
+1% +$10.3K
ACC
379
DELISTED
American Campus Communities, Inc.
ACC
$716K 0.02%
25,790
+300
+1% +$12.5K
SHEN icon
380
Shenandoah Telecom
SHEN
$747M
$715K 0.02%
14,520
+180
+1% +$8K
PFG icon
381
Principal Financial Group
PFG
$24.6B
$714K 0.02%
22,800
– –
SR icon
382
Spire
SR
$4.9B
$713K 0.02%
9,570
+150
+2% +$12K
SWX icon
383
Southwest Gas
SWX
$6.67B
$713K 0.02%
10,250
+170
+2% +$12.2K
SLG icon
384
SL Green Realty
SLG
$4.09B
$708K 0.02%
16,952
– –
CZR
385
DELISTED
Caesars Entertainment Corporation
CZR
$708K 0.02%
104,740
+1,650
+2% +$19.4K
CRUS icon
386
Cirrus Logic
CRUS
$6.11B
$707K 0.02%
10,780
– –
UFPI icon
387
UFP Industries
UFPI
$5.06B
$707K 0.02%
19,020
+240
+1% +$11K
JBGS
388
JBG SMITH
JBGS
$692M
$705K 0.02%
22,150
+260
+1% +$9.77K
LSTR icon
389
Landstar System
LSTR
$6.4B
$705K 0.02%
7,350
– –
DECK icon
390
Deckers Outdoor
DECK
$12.7B
$704K 0.02%
31,500
-660
-2% -$18.4K
KE
391
Kimball Electronics
KE
$614M
$704K 0.02%
64,480
– –
EWBC icon
392
East-West Bancorp
EWBC
$18.6B
$703K 0.02%
27,330
+330
+1% +$13.7K
HR
393
DELISTED
Healthcare Realty Trust Incorporated
HR
$701K 0.02%
25,100
+1,130
+5% +$38.4K
MMS icon
394
Maximus
MMS
$2.93B
$699K 0.02%
12,010
+170
+1% +$11.5K
VFC icon
395
VF Corp
VFC
$5.81B
$699K 0.02%
12,940
– –
GRUB
396
DELISTED
Just Eat Takeaway.com N.V. American Depositary Shares
GRUB
$699K 0.02%
8,580
+105
+1% +$10.3K
BRC icon
397
Brady Corp
BRC
$4.42B
$696K 0.02%
15,420
+280
+2% +$14.3K
ONB icon
398
Old National Bancorp
ONB
$10.3B
$695K 0.02%
52,710
– –
SLAB icon
399
Silicon Laboratories
SLAB
$7.29B
$695K 0.02%
8,140
+100
+1% +$9.92K
DFS
400
DELISTED
Discover Financial Services
DFS
$694K 0.02%
19,460
– –
14 15
16
17 18

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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.