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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
AEIS icon
501
Advanced Energy
AEIS
$13.2B
$834K 0.03%
11,720
+200
+2% +$12.4K
AEL
502
DELISTED
American Equity Investment Life Holding Company
AEL
$833K 0.03%
27,840
+460
+2% +$12.5K
VLY icon
503
Valley National Bancorp
VLY
$8.3B
$832K 0.03%
72,680
+11,810
+19% +$136K
VYX icon
504
NCR Voyix
VYX
$1.17B
$831K 0.03%
38,517
+2,510
+7% +$48.9K
KAI icon
505
Kadant
KAI
$3.91B
$828K 0.03%
7,860
– –
PHM icon
506
Pultegroup
PHM
$24.9B
$825K 0.03%
21,250
+2,010
+10% +$78.1K
GRUB
507
DELISTED
Just Eat Takeaway.com N.V. American Depositary Shares
GRUB
$824K 0.03%
8,475
+95
+1% +$8.7K
LCII icon
508
LCI Industries
LCII
$2.6B
$821K 0.03%
7,660
+150
+2% +$15.2K
ACIW icon
509
ACI Worldwide
ACIW
$5.42B
$820K 0.03%
21,650
+240
+1% +$8.18K
QRVO icon
510
Qorvo
QRVO
$8.68B
$819K 0.03%
7,050
– –
CSX icon
511
CSX Corp
CSX
$92.9B
$818K 0.03%
33,930
+1,350
+4% +$31.9K
FOXF icon
512
Fox Factory Holding Corp
FOXF
$886M
$818K 0.03%
11,760
+260
+2% +$16.8K
CLH icon
513
Clean Harbors
CLH
$16.9B
$817K 0.03%
9,530
+100
+1% +$8.13K
AVT icon
514
Avnet
AVT
$7.87B
$816K 0.03%
19,220
+210
+1% +$8.65K
CXT icon
515
Crane NXT
CXT
$2.96B
$816K 0.03%
27,207
+288
+1% +$8.2K
KNX icon
516
Knight Transportation
KNX
$11.9B
$816K 0.03%
22,770
+250
+1% +$9.18K
DHT icon
517
DHT Holdings
DHT
$3.09B
$815K 0.03%
98,470
– –
WDFC icon
518
WD-40
WDFC
$3.09B
$815K 0.03%
4,200
+80
+2% +$15.1K
AMAT icon
519
Applied Materials
AMAT
$424B
$812K 0.03%
13,310
-8,160
-38% -$459K
BHF icon
520
Brighthouse Financial
BHF
$3.42B
$811K 0.03%
20,670
+230
+1% +$9.05K
VNDA icon
521
Vanda Pharmaceuticals
VNDA
$304M
$810K 0.03%
49,380
+430
+0.9% +$6.5K
XRX icon
522
Xerox
XRX
$412M
$808K 0.03%
21,917
– –
ZD icon
523
Ziff Davis
ZD
$1.92B
$808K 0.03%
9,913
+103
+1% +$8.51K
CATO icon
524
Cato Corp
CATO
$66.7M
$807K 0.03%
46,380
– –
AXON
525
Axon Enterprise
AXON
$50B
$805K 0.03%
10,990
+120
+1% +$7.59K
19 20
21
22 23

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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.