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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
UNH icon
26
UnitedHealth
UNH
$364B
$6.94M 0.22%
27,810
+120
+0.4% +$33K
JPM icon
27
JPMorgan Chase
JPM
$971B
$6.57M 0.21%
72,940
-470
-0.6% -$57.1K
ADBE icon
28
Adobe
ADBE
$103B
$6.35M 0.2%
19,950
+40
+0.2% +$13.7K
VZ icon
29
Verizon
VZ
$195B
$6.27M 0.2%
116,670
+520
+0.4% +$29.8K
MA icon
30
Mastercard
MA
$490B
$6.23M 0.2%
25,800
+40
+0.2% +$11.9K
MRK icon
31
Merck
MRK
$328B
$6.06M 0.19%
82,551
+126
+0.2% +$9.9K
T icon
32
AT&T
T
$166B
$5.8M 0.18%
263,227
+1,192
+0.5% +$32.6K
PFE icon
33
Pfizer
PFE
$150B
$5.71M 0.18%
184,471
+790
+0.4% +$26.9K
HD icon
34
Home Depot
HD
$342B
$5.68M 0.18%
30,440
+70
+0.2% +$15.4K
WMT icon
35
Walmart Inc
WMT
$923B
$5.64M 0.18%
148,950
+390
+0.3% +$15K
PEP icon
36
PepsiCo
PEP
$189B
$5.44M 0.17%
45,300
+120
+0.3% +$16.2K
ABT icon
37
Abbott
ABT
$192B
$5.35M 0.17%
67,828
+220
+0.3% +$18.4K
CSCO icon
38
Cisco
CSCO
$488B
$5.33M 0.17%
135,580
+500
+0.4% +$21.9K
KO icon
39
Coca-Cola
KO
$373B
$5.26M 0.17%
118,900
+600
+0.5% +$32.4K
NEE icon
40
NextEra Energy
NEE
$179B
$5.23M 0.17%
86,960
+320
+0.4% +$20.1K
CRM icon
41
Salesforce
CRM
$158B
$5.23M 0.17%
36,300
+280
+0.8% +$48K
AMGN icon
42
Amgen
AMGN
$225B
$5.21M 0.16%
25,680
– –
COST icon
43
Costco
COST
$421B
$5.16M 0.16%
18,080
+80
+0.4% +$24.3K
ABBV icon
44
AbbVie
ABBV
$440B
$5.07M 0.16%
66,490
+240
+0.4% +$20.4K
DIS icon
45
Walt Disney
DIS
$178B
$4.99M 0.16%
51,685
+250
+0.5% +$31.6K
GOOG icon
46
Alphabet (Google) Class C
GOOG
$4.19T
$4.99M 0.16%
85,860
– –
CMCSA icon
47
Comcast
CMCSA
$90.4B
$4.84M 0.15%
140,930
+640
+0.5% +$27K
BAC icon
48
Bank of America
BAC
$453B
$4.82M 0.15%
226,940
-2,960
-1% -$88.7K
PM icon
49
Philip Morris
PM
$290B
$4.73M 0.15%
64,890
+250
+0.4% +$20.6K
MCD icon
50
McDonald's
MCD
$195B
$4.69M 0.15%
28,340
– –
1
2
3 4 5

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SFM
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AI
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HI
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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.