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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
MMSI icon
876
Merit Medical Systems
MMSI
$5.45B
$527K 0.02%
16,890
+320
+2% +$9.16K
PDEX icon
877
Pro-Dex
PDEX
$217M
$527K 0.02%
30,000
– –
WKC icon
878
World Kinect Corp
WKC
$1.89B
$527K 0.02%
12,130
+140
+1% +$5.86K
OLN icon
879
Olin
OLN
$2.13B
$526K 0.02%
30,480
+340
+1% +$6.09K
CNO icon
880
CNO Financial Group
CNO
$5.02B
$525K 0.02%
28,940
+320
+1% +$5.44K
HUBG icon
881
HUB Group
HUBG
$2.46B
$525K 0.02%
20,460
+400
+2% +$9.89K
CSII
882
DELISTED
Cardiovascular Systems, Inc.
CSII
$524K 0.02%
10,790
+300
+3% +$13.7K
CSGS
883
DELISTED
CSG Systems International
CSGS
$523K 0.02%
10,100
+200
+2% +$10.8K
OSIS icon
884
OSI Systems
OSIS
$3.82B
$523K 0.02%
5,190
+120
+2% +$11.9K
VSH icon
885
Vishay Intertechnology
VSH
$5.11B
$523K 0.02%
24,550
+270
+1% +$5.24K
ROP icon
886
Roper Technologies
ROP
$39.1B
$521K 0.02%
1,470
+10
+0.7% +$3.45K
AVNT icon
887
Avient
AVNT
$4.16B
$520K 0.02%
14,140
+40
+0.3% +$1.31K
INVX
888
Innovex International
INVX
$2.15B
$520K 0.02%
11,080
+200
+2% +$9.16K
MGLN
889
DELISTED
Magellan Health Services, Inc.
MGLN
$520K 0.02%
6,650
+130
+2% +$9.14K
BY icon
890
Byline Bancorp
BY
$1.78B
$519K 0.02%
26,540
– –
XNCR icon
891
Xencor
XNCR
$1.72B
$519K 0.02%
15,080
+300
+2% +$11K
CXO
892
DELISTED
CONCHO RESOURCES INC.
CXO
$519K 0.02%
5,930
– –
MINI
893
DELISTED
Mobile Mini Inc
MINI
$519K 0.02%
13,680
+270
+2% +$10.2K
F icon
894
Ford
F
$55.4B
$518K 0.02%
55,660
+650
+1% +$5.84K
GHC icon
895
Graham Holdings Company
GHC
$5.03B
$518K 0.02%
810
+10
+1% +$6.39K
DEA
896
Easterly Government Properties
DEA
$1.16B
$517K 0.02%
8,720
+172
+2% +$9.71K
FDX icon
897
FedEx
FDX
$80.3B
$516K 0.02%
3,410
+40
+1% +$6.17K
FF icon
898
Future Fuel
FF
$249M
$516K 0.02%
41,600
– –
PENN icon
899
PENN Entertainment
PENN
$2.57B
$516K 0.02%
20,200
+250
+1% +$5.55K
NAVI icon
900
Navient
NAVI
$829M
$515K 0.02%
37,620
+410
+1% +$5.52K
34 35
36
37 38

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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.