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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
IVV icon
1
iShares Core S&P 500 ETF
IVV
$904B
$537M 17%
2,079,349
+549,602
+36% +$168M
HYG icon
2
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$17.9B
$341M 10.79%
+4,424,209
New +$374M
SPY icon
3
State Street SPDR S&P 500 ETF Trust
SPY
$809B
$322M 10.19%
+1,250,193
New +$381M
IEUR icon
4
iShares Core MSCI Europe ETF
IEUR
$9.14B
$174M 5.51%
+4,696,471
New +$212M
IEMG icon
5
iShares Core MSCI Emerging Markets ETF
IEMG
$158B
$166M 5.25%
+4,098,862
New +$201M
JNK icon
6
State Street SPDR Bloomberg High Yield Bond ETF
JNK
$7.31B
$162M 5.14%
+1,713,815
New +$180M
EMB icon
7
iShares JPMorgan USD Emerging Markets Bond ETF
EMB
$14.9B
$112M 3.56%
+1,163,331
New +$128M
BBJP icon
8
JPMorgan BetaBuilders Japan ETF
BBJP
$19.1B
$67.1M 2.12%
+1,639,353
New +$74.6M
USHY icon
9
iShares Broad USD High Yield Corporate Bond ETF
USHY
$29.1B
$53.4M 1.69%
+1,504,211
New +$59.4M
VGK icon
10
Vanguard FTSE Europe ETF
VGK
$31B
$53.3M 1.69%
+1,232,134
New +$65.3M
SPTS icon
11
State Street SPDR Portfolio Short Term Treasury ETF
SPTS
$6.11B
$51.1M 1.62%
1,664,035
-2,228,216
-57% -$67.4M
STIP icon
12
iShares 0-5 Year TIPS Bond ETF
STIP
$15.9B
$44.9M 1.42%
449,664
-148,720
-25% -$14.9M
MBB icon
13
iShares MBS ETF
MBB
$39B
$41.2M 1.3%
373,277
-92,055
-20% -$10M
MSFT icon
14
Microsoft
MSFT
$3.66T
$21.2M 0.67%
134,310
+890
+0.7% +$146K
AAPL icon
15
Apple
AAPL
$4.41T
$18.9M 0.6%
296,800
-1,920
-0.6% -$141K
AMZN icon
16
Amazon
AMZN
$2.88T
$15.5M 0.49%
158,600
+1,400
+0.9% +$136K
META icon
17
Meta Platforms (Facebook)
META
$1.47T
$8.88M 0.28%
53,250
+320
+0.6% +$62.7K
JNJ icon
18
Johnson & Johnson
JNJ
$629B
$8.46M 0.27%
64,540
+230
+0.4% +$32.6K
GOOGL icon
19
Alphabet (Google) Class A
GOOGL
$4.2T
$8.2M 0.26%
141,200
+800
+0.6% +$54.2K
BRK.B icon
20
Berkshire Hathaway Class B
BRK.B
$1.09T
$8.1M 0.26%
44,280
+180
+0.4% +$38.3K
NFLX icon
21
Netflix
NFLX
$309B
$7.19M 0.23%
191,600
+600
+0.3% +$21.2K
V icon
22
Visa
V
$671B
$7.17M 0.23%
44,470
– –
INTC icon
23
Intel
INTC
$509B
$7.03M 0.22%
129,890
-580
-0.4% -$34.3K
PG icon
24
Procter & Gamble
PG
$335B
$6.99M 0.22%
63,580
+190
+0.3% +$22.8K
NVDA icon
25
NVIDIA
NVDA
$5.43T
$6.98M 0.22%
1,059,600
+4,800
+0.5% +$30.3K
1
2 3 4 5

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SFM
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AI
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HI
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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.