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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
GIII icon
1001
G-III Apparel Group
GIII
$1.43B
$441K 0.01%
13,150
+650
+5% +$18.4K
VPG icon
1002
Vishay Precision Group
VPG
$908M
$441K 0.01%
12,960
– –
SVBI
1003
DELISTED
Severn Bancorp Inc/MD
SVBI
$441K 0.01%
47,330
– –
HPQ icon
1004
HP
HPQ
$28.6B
$440K 0.01%
21,420
– –
USAP
1005
DELISTED
Universal Stainless & Alloy
USAP
$440K 0.01%
29,500
– –
DIN icon
1006
Dine Brands
DIN
$440M
$439K 0.01%
5,260
+110
+2% +$8.54K
ACRE
1007
Ares Commercial Real Estate
ACRE
$264M
$438K 0.01%
27,650
– –
SMMF
1008
DELISTED
Summit Financial Group, Inc.
SMMF
$438K 0.01%
16,170
– –
SYKE
1009
DELISTED
SYKES Enterprises Inc
SYKE
$438K 0.01%
11,840
+240
+2% +$8.11K
CRS icon
1010
Carpenter Technology
CRS
$26.6B
$437K 0.01%
8,770
+30
+0.3% +$1.54K
FCF icon
1011
First Commonwealth Financial
FCF
$2.19B
$437K 0.01%
30,140
+470
+2% +$6.6K
BCC icon
1012
Boise Cascade
BCC
$2.94B
$436K 0.01%
11,930
+250
+2% +$9.07K
EPAC icon
1013
Enerpac Tool Group
EPAC
$1.89B
$436K 0.01%
16,740
+330
+2% +$8.06K
IRBT
1014
DELISTED
iRobot
IRBT
$436K 0.01%
8,610
+160
+2% +$8.03K
UVV icon
1015
Universal Corp
UVV
$1.12B
$436K 0.01%
7,640
+110
+1% +$5.94K
ZBH icon
1016
Zimmer Biomet
ZBH
$19B
$436K 0.01%
2,997
+41
+1% +$5.66K
TNC icon
1017
Tennant Co
TNC
$1.15B
$434K 0.01%
5,570
+100
+2% +$7.45K
VBTX
1018
DELISTED
Veritex Holdings
VBTX
$434K 0.01%
14,901
+290
+2% +$7.45K
LGIH icon
1019
LGI Homes
LGIH
$1.37B
$432K 0.01%
6,110
+120
+2% +$9.13K
WNEB icon
1020
Western New England Bancorp
WNEB
$282M
$432K 0.01%
44,810
– –
YUM icon
1021
Yum! Brands
YUM
$41.2B
$432K 0.01%
4,290
– –
AEO icon
1022
American Eagle Outfitters
AEO
$2.73B
$430K 0.01%
29,220
+80
+0.3% +$1.22K
MD icon
1023
Pediatrix Medical
MD
$2.14B
$430K 0.01%
15,490
+40
+0.3% +$1K
TREE icon
1024
LendingTree
TREE
$461M
$428K 0.01%
1,410
+10
+0.7% +$3.31K
INFO
1025
DELISTED
IHS Markit Ltd. Common Shares
INFO
$428K 0.01%
5,680
+570
+11% +$40.6K
39 40
41
42 43

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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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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.