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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
MAT icon
501
Mattel
MAT
$4.25B
$573K 0.02%
65,070
+980
+2% +$12K
FCFS icon
502
FirstCash
FCFS
$9.14B
$572K 0.02%
7,970
– –
IFF icon
503
International Flavors & Fragrances
IFF
$21.4B
$572K 0.02%
5,600
– –
LHX icon
504
L3Harris
LHX
$53.7B
$570K 0.02%
3,167
– –
SLM icon
505
SLM Corp
SLM
$5.22B
$569K 0.02%
79,130
– –
QRVO icon
506
Qorvo
QRVO
$8.68B
$568K 0.02%
7,050
– –
TXNM
507
TXNM Energy Inc
TXNM
$5.91B
$568K 0.02%
14,950
+170
+1% +$8.24K
CFG icon
508
Citizens Financial Group
CFG
$31.2B
$567K 0.02%
30,170
– –
NWE icon
509
NorthWestern Energy
NWE
$4.4B
$567K 0.02%
9,470
+110
+1% +$7.84K
AEP icon
510
American Electric Power
AEP
$68.3B
$566K 0.02%
7,080
+80
+1% +$7.56K
DEA
511
Easterly Government Properties
DEA
$1.18B
$566K 0.02%
9,188
+468
+5% +$28K
RYN icon
512
Rayonier
RYN
$6.54B
$566K 0.02%
26,509
– –
WH icon
513
Wyndham Hotels & Resorts
WH
$5.51B
$564K 0.02%
17,890
– –
ASH icon
514
Ashland
ASH
$3.36B
$562K 0.02%
11,230
– –
FELE icon
515
Franklin Electric
FELE
$4.68B
$562K 0.02%
11,920
+150
+1% +$8.27K
XRN
516
Chiron Real Estate Inc
XRN
$484M
$561K 0.02%
11,096
– –
JJSF icon
517
J&J Snack Foods
JJSF
$1.7B
$560K 0.02%
4,630
+70
+2% +$11.3K
SNX icon
518
TD Synnex
SNX
$20.4B
$560K 0.02%
15,334
+180
+1% +$11K
ECL icon
519
Ecolab
ECL
$77.4B
$559K 0.02%
3,590
+30
+0.8% +$5.64K
APT icon
520
Alpha Pro Tech
APT
$55.7M
$557K 0.02%
46,070
-70,600
-61% -$590K
AGCO icon
521
AGCO
AGCO
$6.96B
$555K 0.02%
11,740
– –
SHOO icon
522
Steven Madden
SHOO
$3.46B
$555K 0.02%
23,890
– –
SIGI icon
523
Selective Insurance
SIGI
$5.59B
$554K 0.02%
11,150
+140
+1% +$8.52K
VMC icon
524
Vulcan Materials
VMC
$36B
$551K 0.02%
5,100
– –
DG icon
525
Dollar General
DG
$26.9B
$550K 0.02%
3,640
– –
19 20
21
22 23

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SFM
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AI
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PEA
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SUT
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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.