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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
+5.43%
1 Year Est. Return
+13.04%
3 Year Est. Return
+34.61%
5 Year Est. Return
+23.86%
10 Year Est. Return
–
AUM
$3.09B
AUM Growth
+$474M
Cap. Flow
+$340M
Cap. Flow %
10.99%
Top 10 Hldgs %
39.72%
Holding
1,708
New
30
Increased
1,089
Reduced
188
Closed
43

Top Buys

Rank Stock Value
1
SPTS icon
State Street SPDR Portfolio Short Term Treasury ETF
SPTS
+$117M
2
IVV icon
iShares Core S&P 500 ETF
IVV
+$115M
3
SPTI icon
State Street SPDR Portfolio Intermediate Term Treasury ETF
SPTI
+$110M
4
SPTL icon
State Street SPDR Portfolio Long Term Treasury ETF
SPTL
+$67.9M
5
VGIT icon
Vanguard Intermediate-Term Treasury ETF
VGIT
+$59.9M

Top Sells

Rank Stock Value
1
PYPL icon
PayPal
PYPL
+$3.3M
2
AVGO icon
Broadcom
AVGO
+$3.25M
3
ALLE icon
Allegion
ALLE
+$2.17M
4
NVR icon
NVR
NVR
+$2.15M
5
TMO icon
Thermo Fisher Scientific
TMO
+$2.01M

Sector Composition

Rank Sector Weight
1 Financials 8.41%
2 Technology 7.42%
3 Industrials 6.44%
4 Healthcare 5.36%
5 Consumer Discretionary 5.05%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
RGP icon
426
Resources Connection
RGP
$145M
$929K 0.03%
56,900
– –
HSII
427
DELISTED
Heidrick & Struggles
HSII
$928K 0.03%
28,580
+100
+0.4% +$2.94K
AZTA icon
428
Azenta
AZTA
$1.49B
$927K 0.03%
22,100
+430
+2% +$18.1K
EGP icon
429
EastGroup Properties
EGP
$11B
$925K 0.03%
6,970
+90
+1% +$11.8K
VAC icon
430
Marriott Vacations Worldwide
VAC
$4.17B
$925K 0.03%
7,185
+80
+1% +$9.37K
BNED icon
431
Barnes & Noble Education
BNED
$424M
$920K 0.03%
2,155
+9
+0.4% +$3.7K
WOLF icon
432
Wolfspeed
WOLF
$1.64B
$916K 0.03%
19,840
+210
+1% +$9.8K
OGS icon
433
ONE Gas
OGS
$5.09B
$915K 0.03%
9,780
+110
+1% +$10.1K
RHI icon
434
Robert Half
RHI
$4.48B
$914K 0.03%
14,480
+730
+5% +$42.4K
CTS icon
435
CTS Corp
CTS
$1.79B
$912K 0.03%
30,400
+200
+0.7% +$5.79K
WBS icon
436
Webster Financial
WBS
$12.8B
$912K 0.03%
17,090
+180
+1% +$8.66K
SRC
437
DELISTED
SPIRIT REALTY CAPITAL, INC.
SRC
$910K 0.03%
18,500
+2,160
+13% +$107K
CMA
438
DELISTED
Comerica
CMA
$908K 0.03%
12,660
-830
-6% -$57K
COLB icon
439
Columbia Banking Systems
COLB
$9.18B
$908K 0.03%
22,320
+440
+2% +$17.1K
CRI icon
440
Carter's
CRI
$1.44B
$908K 0.03%
8,300
+90
+1% +$9.12K
ATVI
441
DELISTED
Activision Blizzard
ATVI
$908K 0.03%
15,280
-3,350
-18% -$185K
AGCO icon
442
AGCO
AGCO
$6.96B
$907K 0.03%
11,740
+130
+1% +$9.98K
CHDN icon
443
Churchill Downs
CHDN
$6.2B
$907K 0.03%
13,220
+140
+1% +$9.12K
TBBK icon
444
The Bancorp
TBBK
$2.82B
$907K 0.03%
69,950
– –
DECK icon
445
Deckers Outdoor
DECK
$12.7B
$905K 0.03%
32,160
+360
+1% +$9.55K
ITRI icon
446
Itron
ITRI
$4.5B
$902K 0.03%
10,750
+210
+2% +$16.5K
B
447
DELISTED
Barnes Group Inc.
B
$902K 0.03%
14,560
+320
+2% +$18.5K
ADC icon
448
Agree Realty
ADC
$9.34B
$901K 0.03%
12,840
+250
+2% +$18.4K
KMPR icon
449
Kemper
KMPR
$1.59B
$901K 0.03%
11,620
+130
+1% +$9.7K
EME icon
450
Emcor
EME
$36.7B
$898K 0.03%
10,410
+110
+1% +$9.68K
16 17
18
19 20

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SFM
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AI
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PEA
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SUT
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WPL
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PVI
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Municipal Employees' Retirement System of Michigan's Q4 2019 Portfolio in Review

As of Q4 2019, Municipal Employees' Retirement System of Michigan held 1,708 positions worth $3.09B, up 18% from $2.62B the previous quarter. Its ten largest holdings account for 40% of the portfolio.

Municipal Employees' Retirement System of Michigan deployed $340M of net new capital in Q4 2019, opening 30 new positions and adding to 1,089 existing holdings. Its largest new stake was State Street SPDR Portfolio Short Term Treasury ETF: 3,892,251 shares worth $117M.

By sector, the portfolio is most concentrated in Financials at 8.4% of assets, down from 8.8% a quarter earlier, followed by Technology and Industrials.

On the sell side, the largest reduction was PayPal, an estimated $3.3M trimmed.

  • Municipal Employees' Retirement System of Michigan's largest Q4 2019 buy was State Street SPDR Portfolio Short Term Treasury ETF: 3,892,251 shares worth $117M.
  • Municipal Employees' Retirement System of Michigan added most to iShares Core S&P 500 ETF in Q4 2019, an estimated $115M increase.
  • Municipal Employees' Retirement System of Michigan's biggest Q4 2019 reduction was PayPal, cutting an estimated $3.3M.
  • Municipal Employees' Retirement System of Michigan fully exited Genesee & Wyoming Inc. in Q4 2019, selling an estimated $1.15M.
  • Municipal Employees' Retirement System of Michigan's ten largest holdings make up 40% of its $3.09B portfolio in Q4 2019.
  • Municipal Employees' Retirement System of Michigan opened 30 new positions and closed 43 in Q4 2019.
  • Municipal Employees' Retirement System of Michigan's portfolio value rose 18% quarter-over-quarter to $3.09B.

Based on Municipal Employees' Retirement System of Michigan's 13F filing for Q4 2019, filed 3 Feb 2020.