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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
BGG
1601
DELISTED
Briggs & Stratton Corp.
BGG
$84K ﹤0.01%
12,590
– –
HOG icon
1602
Harley-Davidson
HOG
$2.9B
$81K ﹤0.01%
2,190
– –
RES icon
1603
RPC Inc
RES
$1.39B
$81K ﹤0.01%
15,450
– –
GHL
1604
DELISTED
Greenhill & Co., Inc.
GHL
$81K ﹤0.01%
4,770
– –
CPRI icon
1605
Capri Holdings
CPRI
$1.77B
$80K ﹤0.01%
2,110
– –
FOX icon
1606
Fox Class B
FOX
$24.4B
$80K ﹤0.01%
2,196
– –
ACIC icon
1607
American Coastal Insurance
ACIC
$461M
$79K ﹤0.01%
6,230
– –
VRTV
1608
DELISTED
VERITIV CORPORATION
VRTV
$76K ﹤0.01%
3,870
– –
CDR
1609
DELISTED
Cedar Realty Trust, Inc
CDR
$76K ﹤0.01%
3,918
– –
XEC
1610
DELISTED
CIMAREX ENERGY CO
XEC
$74K ﹤0.01%
1,410
-6,280
-82% -$292K
TTI icon
1611
TETRA Technologies
TTI
$1.25B
$72K ﹤0.01%
36,850
– –
DPLO
1612
DELISTED
DIPLOMAT PHARMACY, INC.
DPLO
$71K ﹤0.01%
17,640
+710
+4% +$3.33K
IPGP icon
1613
IPG Photonics
IPGP
$3.57B
$70K ﹤0.01%
480
– –
EXTN
1614
DELISTED
Exterran Corporation
EXTN
$70K ﹤0.01%
8,890
– –
AAOI icon
1615
Applied Optoelectronics
AAOI
$11B
$69K ﹤0.01%
5,820
+300
+5% +$3.2K
DAKT icon
1616
Daktronics
DAKT
$988M
$68K ﹤0.01%
11,190
– –
GEOS icon
1617
Geospace Technologies
GEOS
$66.5M
$68K ﹤0.01%
4,080
– –
HP icon
1618
Helmerich & Payne
HP
$4.3B
$67K ﹤0.01%
1,470
– –
SPOK icon
1619
Spok Holdings
SPOK
$230M
$66K ﹤0.01%
5,370
– –
ROL icon
1620
Rollins
ROL
$17.4B
$65K ﹤0.01%
2,963
– –
BELFB
1621
Bel Fuse Inc Class B
BELFB
$4.13B
$64K ﹤0.01%
3,100
+150
+5% +$2.47K
FRGI
1622
DELISTED
Fiesta Restaurant Group, Inc.
FRGI
$64K ﹤0.01%
6,430
– –
JWN
1623
DELISTED
Nordstrom
JWN
$63K ﹤0.01%
1,530
-8,080
-84% -$299K
TLRD
1624
DELISTED
Tailored Brands, Inc.
TLRD
$63K ﹤0.01%
15,120
– –
BBWI icon
1625
Bath & Body Works
BBWI
$3.76B
$56K ﹤0.01%
3,798
– –
63 64
65
66 67

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SFM
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AI
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PEA
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SUT
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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.