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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
NKE icon
51
Nike
NKE
$60.1B
$4.64M 0.15%
56,030
+120
+0.2% +$11.2K
ORCL icon
52
Oracle
ORCL
$442B
$4.61M 0.15%
95,380
– –
IBM icon
53
IBM
IBM
$222B
$4.3M 0.14%
40,533
+147
+0.4% +$18.6K
UNP icon
54
Union Pacific
UNP
$174B
$4.29M 0.14%
30,450
– –
TXN icon
55
Texas Instruments
TXN
$253B
$4.28M 0.14%
42,810
+170
+0.4% +$20.4K
XOM icon
56
ExxonMobil
XOM
$657B
$4.21M 0.13%
110,740
+540
+0.5% +$29.8K
CVX icon
57
Chevron
CVX
$386B
$4.1M 0.13%
56,550
+140
+0.2% +$13.8K
HON icon
58
Honeywell
HON
$74.6B
$4.07M 0.13%
32,276
– –
WFC icon
59
Wells Fargo
WFC
$269B
$3.54M 0.11%
123,450
-1,790
-1% -$76.1K
RTX icon
60
RTX Corp
RTX
$300B
$3.43M 0.11%
57,716
+223
+0.4% +$18.9K
C icon
61
Citigroup
C
$231B
$3.35M 0.11%
79,510
-800
-1% -$53.7K
CTXS
62
DELISTED
Citrix Systems Inc
CTXS
$3.09M 0.1%
21,850
– –
IWM icon
63
iShares Russell 2000 ETF
IWM
$82.2B
$2.99M 0.09%
26,140
– –
AXP icon
64
American Express
AXP
$232B
$2.76M 0.09%
32,250
– –
BA icon
65
Boeing
BA
$183B
$2.66M 0.08%
17,840
+70
+0.4% +$19.2K
DUK icon
66
Duke Energy
DUK
$96.3B
$2.65M 0.08%
32,700
+130
+0.4% +$11.9K
GILD icon
67
Gilead Sciences
GILD
$168B
$2.53M 0.08%
33,810
+180
+0.5% +$12.4K
BLK icon
68
Blackrock
BLK
$180B
$2.42M 0.08%
5,500
– –
DPZ icon
69
Domino's
DPZ
$11.7B
$2.35M 0.07%
7,250
-400
-5% -$123K
IMKTA icon
70
Ingles Markets
IMKTA
$1.66B
$2.32M 0.07%
64,110
– –
SO icon
71
Southern Company
SO
$106B
$2.29M 0.07%
42,250
+220
+0.5% +$13.9K
FIS icon
72
Fidelity National Information Services
FIS
$21.6B
$2.24M 0.07%
18,390
+120
+0.7% +$16.7K
TYL icon
73
Tyler Technologies
TYL
$13B
$2.17M 0.07%
7,320
+160
+2% +$49.6K
USB icon
74
US Bancorp
USB
$101B
$2.14M 0.07%
62,110
– –
WST icon
75
West Pharmaceutical
WST
$24.8B
$2.12M 0.07%
13,890
+210
+2% +$32.3K
1 2
3
4 5

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SFM
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AI
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HI
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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.