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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
APH icon
151
Amphenol
APH
$207B
$1.28M 0.04%
70,360
+240
+0.3% +$5.72K
MPWR icon
152
Monolithic Power Systems
MPWR
$69.8B
$1.27M 0.04%
7,580
+120
+2% +$20.6K
DHR icon
153
Danaher
DHR
$144B
$1.27M 0.04%
10,332
+124
+1% +$16.7K
HRC
154
DELISTED
HILL-ROM HOLDINGS, INC.
HRC
$1.26M 0.04%
12,530
+140
+1% +$14.5K
HUM icon
155
Humana
HUM
$46.6B
$1.25M 0.04%
3,970
– –
SNPS icon
156
Synopsys
SNPS
$78.7B
$1.24M 0.04%
9,660
– –
PCAR icon
157
PACCAR
PCAR
$68.4B
$1.23M 0.04%
30,105
– –
LMT icon
158
Lockheed Martin
LMT
$139B
$1.21M 0.04%
3,560
+40
+1% +$15.7K
ALG icon
159
Alamo Group
ALG
$2.01B
$1.2M 0.04%
13,560
+30
+0.2% +$3.46K
BNY
160
Bank of New York Mellon
BNY
$110B
$1.2M 0.04%
35,700
– –
CINF icon
161
Cincinnati Financial
CINF
$26.7B
$1.2M 0.04%
15,930
– –
CBRE icon
162
CBRE Group
CBRE
$43B
$1.2M 0.04%
31,850
– –
BF.B icon
163
Brown-Forman Class B
BF.B
$13B
$1.2M 0.04%
21,545
– –
LII icon
164
Lennox International
LII
$14.6B
$1.2M 0.04%
6,580
+40
+0.6% +$9.23K
ATR icon
165
AptarGroup
ATR
$8.46B
$1.19M 0.04%
12,000
+120
+1% +$13K
PTC icon
166
PTC
PTC
$16.1B
$1.19M 0.04%
19,510
+280
+1% +$20.7K
EHC icon
167
Encompass Health
EHC
$12.4B
$1.19M 0.04%
23,255
+252
+1% +$14.5K
HUBB icon
168
Hubbell
HUBB
$26.5B
$1.17M 0.04%
10,210
+120
+1% +$16.2K
KRC icon
169
Kilroy Realty
KRC
$4.29B
$1.17M 0.04%
18,300
+1,070
+6% +$81.6K
CRL icon
170
Charles River Laboratories
CRL
$13.4B
$1.16M 0.04%
9,170
+120
+1% +$18K
CIEN icon
171
Ciena
CIEN
$62.3B
$1.16M 0.04%
29,030
+260
+0.9% +$10.7K
PNW icon
172
Pinnacle West Capital
PNW
$12.2B
$1.16M 0.04%
15,260
– –
EXPO icon
173
Exponent
EXPO
$3.22B
$1.16M 0.04%
16,060
+170
+1% +$12.3K
OGE icon
174
OGE Energy
OGE
$9.73B
$1.16M 0.04%
37,570
+440
+1% +$17.8K
VLGEA icon
175
Village Super Market
VLGEA
$633M
$1.15M 0.04%
46,860
– –
5 6
7
8 9

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VAS
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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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MU
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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.