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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
NNN icon
201
NNN REIT
NNN
$8.85B
$1.04M 0.03%
32,210
+370
+1% +$18.6K
MO icon
202
Altria Group
MO
$110B
$1.03M 0.03%
26,770
+300
+1% +$13.3K
POST icon
203
Post Holdings
POST
$3.68B
$1.03M 0.03%
19,054
-413
-2% -$26.8K
MDLZ icon
204
Mondelez International
MDLZ
$80.6B
$1.03M 0.03%
20,640
+200
+1% +$10.8K
A icon
205
Agilent Technologies
A
$41.9B
$1.03M 0.03%
14,410
– –
PPL
206
PPL Corp
PPL
$26.8B
$1.03M 0.03%
41,820
+230
+0.6% +$7.41K
BIIB icon
207
Biogen
BIIB
$31.1B
$1.02M 0.03%
3,220
– –
GPC icon
208
Genuine Parts
GPC
$18.5B
$1.02M 0.03%
15,140
– –
GE icon
209
GE Aerospace
GE
$374B
$994K 0.03%
25,114
+301
+1% +$16K
CACI icon
210
CACI
CACI
$14.8B
$992K 0.03%
4,700
+80
+2% +$19.9K
RGA icon
211
Reinsurance Group of America
RGA
$16.2B
$989K 0.03%
11,750
+110
+0.9% +$14.3K
PRAH
212
DELISTED
PRA Health Sciences, Inc.
PRAH
$986K 0.03%
11,870
+220
+2% +$21.5K
AFG icon
213
American Financial Group
AFG
$12B
$985K 0.03%
14,050
+200
+1% +$19.3K
BCPC
214
Balchem Corp
BCPC
$5.68B
$984K 0.03%
9,970
+70
+0.7% +$7.17K
EXEL icon
215
Exelixis
EXEL
$12.6B
$982K 0.03%
57,020
+830
+1% +$15.2K
CBSH icon
216
Commerce Bancshares
CBSH
$8.57B
$980K 0.03%
26,084
-911
-3% -$43.1K
JLL icon
217
Jones Lang LaSalle
JLL
$16.8B
$976K 0.03%
9,670
+110
+1% +$16.5K
PEN icon
218
Penumbra
PEN
$12.9B
$973K 0.03%
6,030
+90
+2% +$15.2K
WSO icon
219
Watsco Inc
WSO
$12.9B
$969K 0.03%
6,130
+80
+1% +$13.5K
EL icon
220
Estee Lauder
EL
$31.6B
$967K 0.03%
6,070
+60
+1% +$11.6K
AMG icon
221
Affiliated Managers Group
AMG
$9.57B
$963K 0.03%
16,280
+8,540
+110% +$640K
TGT icon
222
Target
TGT
$70.5B
$963K 0.03%
10,360
– –
MNTA
223
DELISTED
Momenta Pharmaceuticals, Inc.
MNTA
$957K 0.03%
35,170
+4,960
+16% +$138K
STRA icon
224
Strategic Education
STRA
$1.83B
$951K 0.03%
6,808
+90
+1% +$13.7K
HAE icon
225
Haemonetics
HAE
$4.16B
$948K 0.03%
9,510
+90
+1% +$9.76K
7 8
9
10 11

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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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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.