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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
ED icon
1026
Consolidated Edison
ED
$40.1B
$426K 0.01%
4,710
+120
+3% +$10.8K
FG
1027
DELISTED
FGL Holdings Ordinary Shares
FG
$426K 0.01%
+40,020
New +$364K
CRWS icon
1028
Crown Crafts
CRWS
$28.6M
$424K 0.01%
69,000
– –
HA
1029
DELISTED
Hawaiian Holdings, Inc.
HA
$424K 0.01%
14,470
+280
+2% +$8.19K
PFSW
1030
DELISTED
PFSweb, Inc.
PFSW
$424K 0.01%
110,920
– –
FNKO icon
1031
Funko
FNKO
$335M
$422K 0.01%
24,590
– –
WMC
1032
DELISTED
Western Asset Mortgage Capital Corporation
WMC
$422K 0.01%
4,089
– –
MXL icon
1033
MaxLinear
MXL
$6.95B
$421K 0.01%
19,830
+480
+2% +$9.96K
NPO icon
1034
Enpro
NPO
$7.12B
$421K 0.01%
6,300
+120
+2% +$7.98K
RYAM icon
1035
Rayonier Advanced Materials
RYAM
$570M
$420K 0.01%
109,580
– –
SFM icon
1036
Sprouts Farmers Market
SFM
$7.71B
$420K 0.01%
21,730
+60
+0.3% +$1.16K
TRN icon
1037
Trinity Industries
TRN
$2.34B
$420K 0.01%
18,980
+210
+1% +$4.28K
PRSU
1038
Pursuit Attractions and Hospitality Inc
PRSU
$1.29B
$420K 0.01%
6,220
+110
+2% +$7.13K
VRTU
1039
DELISTED
Virtusa Corporation
VRTU
$420K 0.01%
9,260
+190
+2% +$7.75K
HOFT icon
1040
Hooker Furnishings Corp
HOFT
$158M
$419K 0.01%
16,310
– –
NUS icon
1041
Nu Skin
NUS
$236M
$419K 0.01%
10,220
+30
+0.3% +$1.22K
AM icon
1042
Antero Midstream
AM
$10.5B
$418K 0.01%
55,020
+7,600
+16% +$48.1K
RFIL icon
1043
RF Industries
RFIL
$144M
$418K 0.01%
61,800
– –
TCS
1044
DELISTED
THE CONTAINER STORE GROUP, INC.
TCS
$417K 0.01%
6,595
– –
STMP
1045
DELISTED
Stamps.com, Inc.
STMP
$417K 0.01%
4,990
+80
+2% +$6.67K
HLX icon
1046
Helix Energy Solutions
HLX
$1.49B
$416K 0.01%
43,250
+1,120
+3% +$9.69K
AVB icon
1047
AvalonBay Communities
AVB
$26.3B
$415K 0.01%
1,980
+20
+1% +$4.28K
EBAY icon
1048
eBay
EBAY
$46.5B
$415K 0.01%
11,500
-20,250
-64% -$734K
SAFT icon
1049
Safety Insurance
SAFT
$1.52B
$414K 0.01%
4,470
+70
+2% +$6.82K
YELP icon
1050
Yelp
YELP
$1.32B
$414K 0.01%
11,890
+30
+0.3% +$1.02K
40 41
42
43 44

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VAS
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SFM
Soros Fund Management New York $9.12B AUM 30.69% 1-Year Est. Return
AI
Ariel Investments Chicago, Illinois $8.93B AUM 29.58% 1-Year Est. Return
PEA
Platinum Equity Advisors Beverly Hills, California $8.88B AUM 27.09% 1-Year Est. Return
SUT
SC US (TTGP) Menlo Park, California $9.25B AUM 20.49% 1-Year Est. Return
MU
Mirova US Boston, Massachusetts $8.81B AUM 21.38% 1-Year Est. Return
WPL
WINDACRE PARTNERSHIP LLC Houston, Texas $9.34B AUM 17.41% 1-Year Est. Return
PVI
Partners Value Investments Hamilton, Bermuda $9.34B AUM 12.2% 1-Year Est. Return

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.