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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
KBR icon
526
KBR
KBR
$4.81B
$550K 0.02%
26,590
+330
+1% +$8.53K
EXLS icon
527
EXL Service
EXLS
$5.36B
$549K 0.02%
52,800
+500
+1% +$6.82K
AIT icon
528
Applied Industrial Technologies
AIT
$13.2B
$548K 0.02%
11,980
+170
+1% +$10.1K
SCL icon
529
Stepan Co
SCL
$1.48B
$548K 0.02%
6,200
+60
+1% +$5.73K
RHI icon
530
Robert Half
RHI
$4.48B
$547K 0.02%
14,480
– –
CRI icon
531
Carter's
CRI
$1.44B
$546K 0.02%
8,300
– –
NSC icon
532
Norfolk Southern
NSC
$75.9B
$545K 0.02%
3,730
– –
VLO icon
533
Valero Energy
VLO
$98.7B
$545K 0.02%
12,020
– –
NSA
534
DELISTED
National Storage Affiliates Trust
NSA
$544K 0.02%
18,380
+230
+1% +$7.63K
NWSA icon
535
News Corp Class A
NWSA
$15.6B
$543K 0.02%
60,550
– –
ROG icon
536
Rogers Corp
ROG
$2.46B
$543K 0.02%
5,750
+70
+1% +$7.96K
XRAY icon
537
Dentsply Sirona
XRAY
$2.31B
$543K 0.02%
13,970
– –
BC icon
538
Brunswick
BC
$5.29B
$542K 0.02%
15,310
-590
-4% -$31.3K
SHW icon
539
Sherwin-Williams
SHW
$87.8B
$542K 0.02%
3,540
+60
+2% +$10.8K
UHS icon
540
Universal Health Services
UHS
$10.1B
$542K 0.02%
5,470
– –
ARWR icon
541
Arrowhead Research
ARWR
$12.1B
$541K 0.02%
18,790
-10,380
-36% -$419K
OFG icon
542
OFG Bancorp
OFG
$2.26B
$540K 0.02%
48,310
– –
SYF icon
543
Synchrony
SYF
$26.1B
$540K 0.02%
33,540
– –
TCBK icon
544
TriCo Bancshares
TCBK
$1.86B
$537K 0.02%
18,000
– –
VLY icon
545
Valley National Bancorp
VLY
$8.3B
$537K 0.02%
73,510
+830
+1% +$8.12K
PFBC icon
546
Preferred Bank
PFBC
$1.28B
$536K 0.02%
15,840
– –
CMTL icon
547
Comtech Telecommunications
CMTL
$52.7M
$534K 0.02%
40,250
+240
+0.6% +$6.75K
MMSI icon
548
Merit Medical Systems
MMSI
$5.4B
$534K 0.02%
17,100
+210
+1% +$7.48K
SF
549
Stifel
SF
$12.9B
$533K 0.02%
29,048
– –
LAND
550
Gladstone Land Corp
LAND
$358M
$532K 0.02%
44,880
– –
20 21
22
23 24

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SFM
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AI
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PEA
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SUT
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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.