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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
BKE icon
1376
Buckle
BKE
$2.31B
$236K 0.01%
8,740
+140
+2% +$3.33K
BANC icon
1377
Banc of California
BANC
$3.11B
$234K 0.01%
13,600
+700
+5% +$10.6K
WCG
1378
DELISTED
Wellcare Health Plans, Inc.
WCG
$234K 0.01%
710
– –
LH icon
1379
Labcorp
LH
$26.2B
$233K 0.01%
1,606
-7,566
-82% -$1.09M
NTGR icon
1380
NETGEAR
NTGR
$647M
$233K 0.01%
9,520
+190
+2% +$5.19K
SAH icon
1381
Sonic Automotive
SAH
$2.51B
$230K 0.01%
7,420
+220
+3% +$6.96K
CMO
1382
DELISTED
Capstead Mortgage Corp.
CMO
$230K 0.01%
29,090
+600
+2% +$4.63K
ICHR icon
1383
Ichor Holdings
ICHR
$2.67B
$229K 0.01%
6,870
+140
+2% +$4.17K
KELYA icon
1384
Kelly Services Class A
KELYA
$566M
$229K 0.01%
10,150
+200
+2% +$4.51K
UBA
1385
DELISTED
Urstadt Biddle Properties Inc. Class A
UBA
$227K 0.01%
9,150
+140
+2% +$3.36K
ALOT icon
1386
AstroNova
ALOT
$227M
$226K 0.01%
16,460
– –
GTX icon
1387
Garrett Motion
GTX
$5.35B
$226K 0.01%
22,620
+270
+1% +$2.75K
EBIX
1388
DELISTED
Ebix Inc
EBIX
$226K 0.01%
6,750
+130
+2% +$4.8K
DNOW icon
1389
DNOW Inc
DNOW
$2.95B
$225K 0.01%
20,050
– –
NFBK
1390
DELISTED
Northfield Bancorp
NFBK
$225K 0.01%
13,260
+260
+2% +$4.37K
MCS icon
1391
Marcus Corp
MCS
$929M
$223K 0.01%
7,030
+130
+2% +$4.4K
CE icon
1392
Celanese
CE
$4.86B
$222K 0.01%
1,800
-9,780
-84% -$1.2M
COO icon
1393
Cooper Companies
COO
$14.9B
$222K 0.01%
2,760
– –
UEIC icon
1394
Universal Electronics
UEIC
$66.6M
$222K 0.01%
4,250
+80
+2% +$4.29K
BJRI icon
1395
BJ's Restaurants
BJRI
$1.42B
$221K 0.01%
5,810
-330
-5% -$12.7K
INCY icon
1396
Incyte
INCY
$24.4B
$221K 0.01%
2,530
+70
+3% +$5.98K
NAII icon
1397
Natural Alternatives International
NAII
$13.6M
$219K 0.01%
27,450
– –
UAA icon
1398
Under Armour
UAA
$2.3B
$219K 0.01%
10,180
+7,660
+304% +$149K
VECO icon
1399
Veeco
VECO
$3.28B
$218K 0.01%
14,848
+260
+2% +$3.54K
AAWW
1400
DELISTED
Atlas Air Worldwide Holdings, Inc.
AAWW
$218K 0.01%
7,910
+160
+2% +$4K
54 55
56
57 58

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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.