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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
TDG icon
1101
TransDigm Group
TDG
$68.9B
$392K 0.01%
700
+10
+1% +$5.47K
BDC icon
1102
Belden
BDC
$5.36B
$391K 0.01%
7,110
+20
+0.3% +$1.07K
TWIN icon
1103
Twin Disc
TWIN
$349M
$391K 0.01%
35,510
– –
AVTA
1104
DELISTED
Avantax, Inc. Common Stock
AVTA
$391K 0.01%
14,950
+370
+3% +$8.29K
AMSF icon
1105
AMERISAFE
AMSF
$504M
$390K 0.01%
5,910
+100
+2% +$6.63K
ES icon
1106
Eversource Energy
ES
$27.2B
$390K 0.01%
4,590
+80
+2% +$6.65K
HBNC icon
1107
Horizon Bancorp
HBNC
$1.05B
$389K 0.01%
20,460
– –
IRT icon
1108
Independence Realty Trust
IRT
$4.01B
$389K 0.01%
27,600
+680
+3% +$9.91K
BOOT icon
1109
Boot Barn
BOOT
$4.92B
$388K 0.01%
8,710
-16,470
-65% -$650K
CTBI icon
1110
Community Trust Bancorp
CTBI
$1.44B
$388K 0.01%
8,320
– –
TGI
1111
DELISTED
Triumph Group
TGI
$387K 0.01%
15,320
+290
+2% +$7.2K
HAIN icon
1112
Hain Celestial
HAIN
$53.9M
$386K 0.01%
14,890
+170
+1% +$4.06K
PAYX icon
1113
Paychex
PAYX
$44.6B
$386K 0.01%
4,540
+50
+1% +$4.22K
VRE
1114
DELISTED
Veris Residential
VRE
$385K 0.01%
16,660
+50
+0.3% +$1.08K
JRVR icon
1115
James River Group Holdings
JRVR
$200M
$383K 0.01%
9,300
+210
+2% +$8.25K
SBAC icon
1116
SBA Communications
SBAC
$19.8B
$383K 0.01%
1,590
– –
EIX icon
1117
Edison International
EIX
$27.2B
$382K 0.01%
5,070
+100
+2% +$7.08K
LTHM
1118
DELISTED
Livent Corporation
LTHM
$382K 0.01%
44,680
+700
+2% +$5.36K
CORE
1119
DELISTED
Core Mark Holding Co., Inc.
CORE
$382K 0.01%
14,040
+220
+2% +$6.09K
CXW icon
1120
CoreCivic
CXW
$3.13B
$381K 0.01%
21,910
+60
+0.3% +$950
INGN icon
1121
Inogen
INGN
$154M
$381K 0.01%
5,570
+110
+2% +$6.9K
SUPN icon
1122
Supernus Pharmaceuticals
SUPN
$2.74B
$381K 0.01%
16,050
+270
+2% +$6.56K
CMP icon
1123
Compass Minerals
CMP
$1.1B
$379K 0.01%
6,220
– –
CORT icon
1124
Corcept Therapeutics
CORT
$11.9B
$379K 0.01%
31,310
+610
+2% +$8.49K
MSI icon
1125
Motorola Solutions
MSI
$77B
$379K 0.01%
2,350
+40
+2% +$6.59K
43 44
45
46 47

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SFM
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AI
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PEA
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SUT
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MU
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WPL
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PVI
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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.