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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
DVA icon
1576
DaVita
DVA
$11.4B
$103K ﹤0.01%
1,370
-9,740
-88% -$646K
TBRG
1577
DELISTED
TruBridge
TBRG
$101K ﹤0.01%
3,820
+140
+4% +$3.49K
ACH
1578
Accendra Health
ACH
$84.6M
$100K ﹤0.01%
19,270
+410
+2% +$2.63K
JCP
1579
DELISTED
J.C. Penney Company, Inc.
JCP
$100K ﹤0.01%
89,640
– –
NLSN
1580
DELISTED
Nielsen Holdings plc
NLSN
$100K ﹤0.01%
4,920
– –
EXPR
1581
DELISTED
Express, Inc.
EXPR
$98K ﹤0.01%
1,009
– –
PKE icon
1582
Park Aerospace
PKE
$811M
$97K ﹤0.01%
5,960
+200
+3% +$3.31K
CAMP
1583
DELISTED
CalAmp Corp.
CAMP
$97K ﹤0.01%
441
– –
PEI
1584
DELISTED
Pennsylvania Real Estate Investment Trust
PEI
$97K ﹤0.01%
1,218
+35
+3% +$2.92K
ARLO icon
1585
Arlo Technologies
ARLO
$1.54B
$96K ﹤0.01%
22,908
+700
+3% +$2.41K
CENT icon
1586
Central Garden & Pet Co
CENT
$2.78B
$96K ﹤0.01%
3,863
– –
MTUS icon
1587
Metallus
MTUS
$892M
$96K ﹤0.01%
12,210
+460
+4% +$2.88K
LEG icon
1588
Leggett & Platt
LEG
$1.32B
$95K ﹤0.01%
1,870
-23,720
-93% -$1.16M
LOCO icon
1589
El Pollo Loco
LOCO
$471M
$94K ﹤0.01%
6,190
– –
FLS icon
1590
Flowserve
FLS
$10.3B
$93K ﹤0.01%
1,860
+100
+6% +$4.79K
AOS icon
1591
A.O. Smith
AOS
$8.49B
$92K ﹤0.01%
1,930
-15,780
-89% -$765K
IVC
1592
DELISTED
Invacare Corporation
IVC
$92K ﹤0.01%
10,170
– –
LCI
1593
DELISTED
Lannett Company, Inc.
LCI
$90K ﹤0.01%
2,555
– –
NE
1594
DELISTED
Noble Corporation
NE
$90K ﹤0.01%
74,080
– –
HCI icon
1595
HCI Group
HCI
$2.32B
$89K ﹤0.01%
1,960
– –
SENEA icon
1596
Seneca Foods Class A
SENEA
$1.31B
$85K ﹤0.01%
2,080
+100
+5% +$3.61K
RRD
1597
DELISTED
RR Donnelley & Sons Co.
RRD
$85K ﹤0.01%
21,460
+970
+5% +$3.83K
SEE
1598
DELISTED
Sealed Air
SEE
$84K ﹤0.01%
2,110
– –
CNSL
1599
DELISTED
Consolidated Communications Holdings, Inc.
CNSL
$84K ﹤0.01%
21,570
– –
LL
1600
DELISTED
LL Flooring Holdings, Inc.
LL
$84K ﹤0.01%
8,560
– –
62 63
64
65 66

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SFM
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AI
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SUT
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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.