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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
AGYS icon
1501
Agilysys
AGYS
$3.25B
$158K 0.01%
6,230
+120
+2% +$3.04K
AVD icon
1502
American Vanguard Corp
AVD
$62.8M
$158K 0.01%
8,130
+180
+2% +$2.83K
ANET icon
1503
Arista Networks
ANET
$257B
$157K 0.01%
12,320
+480
+4% +$6.32K
TSCO icon
1504
Tractor Supply
TSCO
$18.8B
$157K 0.01%
8,400
-40,200
-83% -$763K
JKHY icon
1505
Jack Henry & Associates
JKHY
$11.1B
$156K 0.01%
1,070
– –
CUTR
1506
DELISTED
Cutera, Inc.
CUTR
$155K 0.01%
4,340
+110
+3% +$3.72K
PAHC icon
1507
Phibro Animal Health
PAHC
$1.38B
$154K 0.01%
6,210
+100
+2% +$2.32K
JAG
1508
DELISTED
Jagged Peak Energy Inc.
JAG
$154K 0.01%
+18,110
New +$132K
AVY icon
1509
Avery Dennison
AVY
$13.6B
$153K ﹤0.01%
1,170
-9,420
-89% -$1.19M
DISCK
1510
DELISTED
Discovery, Inc. Series C Common Stock
DISCK
$152K ﹤0.01%
4,994
– –
SAFE
1511
DELISTED
Safehold Inc.
SAFE
$152K ﹤0.01%
+3,770
New +$138K
GL icon
1512
Globe Life
GL
$14B
$151K ﹤0.01%
1,430
+50
+4% +$4.99K
MERC icon
1513
Mercer International
MERC
$33.8M
$151K ﹤0.01%
12,250
+240
+2% +$2.93K
OSUR icon
1514
OraSure Technologies
OSUR
$277M
$150K ﹤0.01%
18,690
– –
KREF
1515
KKR Real Estate Finance Trust
KREF
$502M
$149K ﹤0.01%
+7,310
New +$146K
REG icon
1516
Regency Centers
REG
$14.1B
$148K ﹤0.01%
2,350
– –
TISI icon
1517
Team
TISI
$101M
$148K ﹤0.01%
927
+16
+2% +$2.71K
NI icon
1518
NiSource
NI
$20.2B
$147K ﹤0.01%
5,290
+170
+3% +$4.66K
PKG icon
1519
Packaging Corp of America
PKG
$22.9B
$147K ﹤0.01%
1,310
-8,890
-87% -$981K
HII icon
1520
Huntington Ingalls Industries
HII
$12.8B
$146K ﹤0.01%
580
-2,870
-83% -$680K
ADTN icon
1521
Adtran
ADTN
$658M
$145K ﹤0.01%
14,630
+400
+3% +$3.81K
PETS icon
1522
PetMed Express
PETS
$43.4M
$145K ﹤0.01%
6,160
– –
RC
1523
Ready Capital
RC
$294M
$145K ﹤0.01%
+9,380
New +$148K
WRLD icon
1524
World Acceptance Corp
WRLD
$875M
$145K ﹤0.01%
1,680
-220
-12% -$22.7K
PDFS icon
1525
PDF Solutions
PDFS
$2.13B
$144K ﹤0.01%
8,540
+240
+3% +$3.68K
59 60
61
62 63

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VAS
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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.