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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
TSN icon
426
Tyson Foods
TSN
$19.8B
$661K 0.02%
11,420
+90
+0.8% +$6.72K
RLI icon
427
RLI Corp
RLI
$5.87B
$659K 0.02%
14,980
+200
+1% +$8.8K
KEY icon
428
KeyCorp
KEY
$24.6B
$657K 0.02%
63,330
– –
BSX icon
429
Boston Scientific
BSX
$74.9B
$652K 0.02%
19,980
+240
+1% +$9.38K
LUV icon
430
Southwest Airlines
LUV
$22B
$652K 0.02%
18,320
– –
TCF
431
DELISTED
TCF Financial Corporation Common Stock
TCF
$652K 0.02%
28,785
+320
+1% +$12K
NRG icon
432
NRG Energy
NRG
$25.2B
$651K 0.02%
23,880
– –
SFNC icon
433
Simmons First National
SFNC
$3.46B
$650K 0.02%
35,310
+430
+1% +$9.77K
STMP
434
DELISTED
Stamps.com, Inc.
STMP
$649K 0.02%
4,990
– –
CSX icon
435
CSX Corp
CSX
$92.9B
$648K 0.02%
33,930
– –
TFIN icon
436
Triumph Financial Inc
TFIN
$1.87B
$647K 0.02%
24,870
– –
EME icon
437
Emcor
EME
$36.7B
$646K 0.02%
10,540
+130
+1% +$10K
ZD icon
438
Ziff Davis
ZD
$1.92B
$645K 0.02%
9,913
– –
HSII
439
DELISTED
Heidrick & Struggles
HSII
$643K 0.02%
28,580
– –
ICE icon
440
Intercontinental Exchange
ICE
$87.2B
$643K 0.02%
7,960
– –
JBL icon
441
Jabil
JBL
$38.8B
$641K 0.02%
26,070
+260
+1% +$9.07K
ITGR icon
442
Integer Holdings
ITGR
$4.25B
$636K 0.02%
10,120
+130
+1% +$10.6K
SAM icon
443
Boston Beer
SAM
$1.9B
$636K 0.02%
1,730
+30
+2% +$11.1K
AYI icon
444
Acuity Brands
AYI
$10.8B
$634K 0.02%
7,400
– –
ANIK icon
445
Anika Therapeutics
ANIK
$283M
$633K 0.02%
21,880
+200
+0.9% +$8.09K
PRLB icon
446
Protolabs
PRLB
$2.21B
$631K 0.02%
8,290
+60
+0.7% +$5.56K
WWD icon
447
Woodward
WWD
$21.2B
$629K 0.02%
10,580
+140
+1% +$14.5K
KMB icon
448
Kimberly-Clark
KMB
$36.8B
$624K 0.02%
4,880
– –
RGP icon
449
Resources Connection
RGP
$145M
$624K 0.02%
56,900
– –
ALXN
450
DELISTED
Alexion Pharmaceuticals
ALXN
$624K 0.02%
6,950
– –
16 17
18
19 20

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SFM
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AI
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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.