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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
TBHC
1651
DELISTED
The Brand House Collective
TBHC
– –
-79,300
Closed -$122K
SPB icon
1652
Spectrum Brands
SPB
$2.09B
– –
-94
Closed -$5K
TACT icon
1653
Transact Technologies
TACT
$52.5M
– –
-45,640
Closed -$556K
TRC icon
1654
Tejon Ranch
TRC
$443M
– –
-32,410
Closed -$550K
TTSH
1655
DELISTED
Tile Shop Holdings
TTSH
– –
-86,080
Closed -$274K
WHG icon
1656
Westwood Holdings Group
WHG
$184M
– –
-15,200
Closed -$421K
EGIO
1657
DELISTED
Edgio, Inc. Common Stock
EGIO
– –
-3,002
Closed -$364K
ICD
1658
DELISTED
Independence Contract Drilling, Inc.
ICD
– –
-5,865
Closed -$141K
CORR
1659
DELISTED
CorEnergy Infrastructure Trust, Inc.
CORR
– –
-14,790
Closed -$698K
TESS
1660
DELISTED
Tessco Technologies Inc
TESS
– –
-40,180
Closed -$577K
CYBE
1661
DELISTED
Cyberoptics Corp
CYBE
– –
-23,930
Closed -$343K
IIN
1662
DELISTED
IntriCon Corporation
IIN
– –
-22,130
Closed -$430K
CETV
1663
DELISTED
Central European Media Enterprises Ltd
CETV
– –
-184,870
Closed -$831K
GCAP
1664
DELISTED
Gain Capital Holdings, Inc.
GCAP
– –
-125,260
Closed -$661K
FNJN
1665
DELISTED
Finjan Holdings, Inc.
FNJN
– –
-137,660
Closed -$275K
GWR
1666
DELISTED
Genesee & Wyoming Inc.
GWR
– –
-10,390
Closed -$1.15M
CRZO
1667
DELISTED
Carrizo Oil & Gas Inc
CRZO
– –
-27,770
Closed -$238K
VSI
1668
DELISTED
Vitamin Shoppe Inc.
VSI
– –
-4,790
Closed -$31K
STI
1669
DELISTED
SunTrust Banks, Inc.
STI
– –
-6,230
Closed -$429K
CBM
1670
DELISTED
Cambrex Corporation
CBM
– –
-10,140
Closed -$603K
VIAB
1671
DELISTED
Viacom Inc. Class B
VIAB
– –
-24,840
Closed -$597K
ORIT
1672
DELISTED
Oritani Financial Corp. New
ORIT
– –
-11,480
Closed -$203K
DF
1673
DELISTED
Dean Foods Company
DF
– –
-26,600
Closed -$31K
GHDX
1674
DELISTED
Genomic Health, Inc.
GHDX
– –
-6,480
Closed -$439K
LTXB
1675
DELISTED
LegacyTexas Financial Group Inc
LTXB
– –
-14,650
Closed -$638K
64 65 66
67
68

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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.