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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
TBBK icon
701
The Bancorp
TBBK
$2.82B
$425K 0.01%
69,950
– –
VMI icon
702
Valmont Industries
VMI
$9.5B
$425K 0.01%
4,010
– –
VYX icon
703
NCR Voyix
VYX
$1.17B
$424K 0.01%
39,039
+522
+1% +$8.96K
FLIR
704
DELISTED
FLIR Systems, Inc. (DE) Common Stock
FLIR
$424K 0.01%
13,300
– –
PSA icon
705
Public Storage
PSA
$61.4B
$423K 0.01%
2,130
– –
MLI icon
706
Mueller Industries
MLI
$14.7B
$422K 0.01%
70,560
+1,200
+2% +$8.62K
EVTC icon
707
Evertec
EVTC
$1.91B
$420K 0.01%
18,490
+220
+1% +$6.74K
SBRA icon
708
Sabra Healthcare REIT
SBRA
$5.15B
$420K 0.01%
38,480
+3,330
+9% +$61.4K
DGII icon
709
Digi International
DGII
$3.23B
$419K 0.01%
43,910
– –
SFBS
710
ServisFirst Bancshares
SFBS
$5B
$419K 0.01%
14,280
+190
+1% +$6.66K
BOH icon
711
Bank of Hawaii
BOH
$3.15B
$417K 0.01%
7,540
– –
KFY icon
712
Korn Ferry
KFY
$4.36B
$417K 0.01%
17,130
– –
PRA
713
DELISTED
ProAssurance
PRA
$417K 0.01%
16,660
+210
+1% +$6.34K
EMR icon
714
Emerson Electric
EMR
$91.6B
$416K 0.01%
8,720
– –
FLWS icon
715
1-800-Flowers.com
FLWS
$261M
$416K 0.01%
31,470
– –
SLGN icon
716
Silgan Holdings
SLGN
$4.46B
$416K 0.01%
14,320
– –
XRX icon
717
Xerox
XRX
$412M
$415K 0.01%
21,917
– –
GATX icon
718
GATX Corp
GATX
$6.33B
$414K 0.01%
6,620
– –
FDX icon
719
FedEx
FDX
$80.3B
$413K 0.01%
3,410
– –
KMX icon
720
CarMax
KMX
$8.52B
$413K 0.01%
7,670
– –
RAMP icon
721
LiveRamp
RAMP
$2.31B
$413K 0.01%
12,550
– –
FIX icon
722
Comfort Systems
FIX
$60.8B
$412K 0.01%
11,280
– –
GRBK icon
723
Green Brick Partners
GRBK
$3.04B
$412K 0.01%
51,190
– –
PFC
724
DELISTED
Premier Financial Corp. Common Stock
PFC
$412K 0.01%
27,973
+16,973
+154% +$432K
DLR icon
725
Digital Realty Trust
DLR
$73.1B
$411K 0.01%
2,960
– –
27 28
29
30 31

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VAS
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SFM
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AI
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PEA
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SUT
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MU
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WPL
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PVI
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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.