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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
LXP icon
526
LXP Industrial Trust
LXP
$3.58B
$805K 0.03%
15,164
+298
+2% +$15.9K
CNC icon
527
Centene
CNC
$32.6B
$803K 0.03%
12,770
+6,970
+120% +$378K
FUL icon
528
H.B. Fuller
FUL
$3.24B
$803K 0.03%
15,580
+300
+2% +$14.9K
ITGR icon
529
Integer Holdings
ITGR
$4.25B
$803K 0.03%
9,990
+200
+2% +$15.3K
STL
530
DELISTED
Sterling Bancorp
STL
$802K 0.03%
38,060
+410
+1% +$8.36K
KBR icon
531
KBR
KBR
$4.81B
$801K 0.03%
26,260
+290
+1% +$8.16K
CRAI icon
532
CRA International
CRAI
$1.07B
$800K 0.03%
14,680
– –
MRSH
533
Marsh
MRSH
$90B
$800K 0.03%
7,180
– –
SXC icon
534
SunCoke Energy
SXC
$788M
$800K 0.03%
128,460
+720
+0.6% +$4K
HR
535
DELISTED
Healthcare Realty Trust Incorporated
HR
$800K 0.03%
23,970
+260
+1% +$8.62K
ARI
536
Apollo Commercial Real Estate
ARI
$886M
$799K 0.03%
43,700
+860
+2% +$15.9K
PLD icon
537
Prologis
PLD
$134B
$797K 0.03%
8,940
+90
+1% +$7.98K
VRTX icon
538
Vertex Pharmaceuticals
VRTX
$131B
$797K 0.03%
3,640
-2,790
-43% -$565K
RGEN icon
539
Repligen
RGEN
$9.45B
$796K 0.03%
8,600
+90
+1% +$7.56K
IT icon
540
Gartner
IT
$11.6B
$795K 0.03%
5,160
+3,920
+316% +$599K
LKQ icon
541
LKQ Corp
LKQ
$6.38B
$795K 0.03%
22,270
+17,990
+420% +$611K
MNRO icon
542
Monro
MNRO
$352M
$795K 0.03%
10,170
+180
+2% +$13.6K
FL
543
DELISTED
Foot Locker
FL
$793K 0.03%
20,350
-5,490
-21% -$231K
SAIC icon
544
Saic
SAIC
$5.35B
$792K 0.03%
9,100
+100
+1% +$8.36K
HMSY
545
DELISTED
HMS Holdings Corp.
HMSY
$791K 0.03%
26,730
+490
+2% +$15K
BWA icon
546
BorgWarner
BWA
$13.8B
$790K 0.03%
20,698
-3,601
-15% -$132K
XRAY icon
547
Dentsply Sirona
XRAY
$2.31B
$790K 0.03%
13,970
+10,730
+331% +$598K
WSR
548
DELISTED
Whitestone REIT
WSR
$789K 0.03%
57,970
+350
+0.6% +$4.8K
AIT icon
549
Applied Industrial Technologies
AIT
$13.2B
$788K 0.03%
11,810
+220
+2% +$13.5K
FSLR icon
550
First Solar
FSLR
$24B
$788K 0.03%
14,080
+160
+1% +$8.79K
20 21
22
23 24

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AI
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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.