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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
RSG icon
76
Republic Services
RSG
$65.6B
$2.07M 0.07%
27,620
– –
TDY icon
77
Teledyne Technologies
TDY
$31.8B
$2.03M 0.06%
6,840
+90
+1% +$30.9K
ALL icon
78
Allstate
ALL
$64.7B
$2.02M 0.06%
22,050
– –
WM icon
79
Waste Management
WM
$90.5B
$1.99M 0.06%
21,480
+60
+0.3% +$6.88K
MS icon
80
Morgan Stanley
MS
$342B
$1.92M 0.06%
56,430
– –
APD icon
81
Air Products & Chemicals
APD
$67.7B
$1.91M 0.06%
9,590
+40
+0.4% +$9.12K
CNXN icon
82
PC Connection
CNXN
$2.03B
$1.91M 0.06%
46,430
+3,420
+8% +$152K
BMY icon
83
Bristol-Myers Squibb
BMY
$130B
$1.87M 0.06%
33,600
+300
+0.9% +$18.3K
D icon
84
Dominion Energy
D
$59.8B
$1.86M 0.06%
25,828
+150
+0.6% +$12.2K
FDS icon
85
Factset
FDS
$9.89B
$1.85M 0.06%
7,100
– –
MMM icon
86
3M
MMM
$94.8B
$1.81M 0.06%
15,895
+108
+0.7% +$14.2K
SPTN
87
DELISTED
SpartanNash
SPTN
$1.79M 0.06%
125,340
– –
AFL icon
88
Aflac
AFL
$60.5B
$1.77M 0.06%
51,670
– –
ITW icon
89
Illinois Tool Works
ITW
$83.3B
$1.74M 0.05%
12,220
– –
TER icon
90
Teradyne
TER
$63B
$1.71M 0.05%
31,520
– –
CVS icon
91
CVS Health
CVS
$121B
$1.71M 0.05%
28,733
+210
+0.7% +$14K
LLY icon
92
Eli Lilly
LLY
$1.09T
$1.68M 0.05%
12,130
– –
MPT
93
Medical Properties Trust
MPT
$2.42B
$1.68M 0.05%
97,110
+5,050
+5% +$106K
FICO icon
94
Fair Isaac
FICO
$22.6B
$1.67M 0.05%
5,440
+80
+1% +$29.5K
CHTR icon
95
Charter Communications
CHTR
$17.9B
$1.66M 0.05%
3,810
-40
-1% -$19.6K
WTRG icon
96
Essential Utilities
WTRG
$11.3B
$1.65M 0.05%
40,510
+490
+1% +$23.1K
MOH icon
97
Molina Healthcare
MOH
$10.8B
$1.64M 0.05%
11,770
+140
+1% +$18.7K
MASI
98
DELISTED
Masimo
MASI
$1.63M 0.05%
9,210
+110
+1% +$18.9K
TMO icon
99
Thermo Fisher Scientific
TMO
$223B
$1.63M 0.05%
5,750
+60
+1% +$18.9K
CY
100
DELISTED
Cypress Semiconductor
CY
$1.62M 0.05%
69,310
+810
+1% +$18.5K
2 3
4
5 6

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SFM
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AI
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HI
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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.