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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
IVV icon
1
iShares Core S&P 500 ETF
IVV
$910B
$494M 16%
1,529,747
+371,076
+32% +$115M
SPTI icon
2
State Street SPDR Portfolio Intermediate Term Treasury ETF
SPTI
$10.6B
$226M 7.3%
7,295,861
+3,550,967
+95% +$110M
SPTS icon
3
State Street SPDR Portfolio Short Term Treasury ETF
SPTS
$6.12B
$117M 3.77%
+3,892,251
New +$117M
SPTL icon
4
State Street SPDR Portfolio Long Term Treasury ETF
SPTL
$10.8B
$66.1M 2.14%
+1,700,106
New +$67.9M
STIP icon
5
iShares 0-5 Year TIPS Bond ETF
STIP
$15.9B
$60.3M 1.95%
598,384
– –
VGIT icon
6
Vanguard Intermediate-Term Treasury ETF
VGIT
$42.5B
$59.5M 1.93%
+902,877
New +$59.9M
MBB icon
7
iShares MBS ETF
MBB
$39.2B
$50.3M 1.63%
465,332
– –
FLRN icon
8
State Street SPDR Bloomberg Investment Grade Floating Rate ETF
FLRN
$2.97B
$45.1M 1.46%
1,468,189
– –
AAPL icon
9
Apple
AAPL
$4.44T
$21.9M 0.71%
298,720
-13,280
-4% -$854K
MSFT icon
10
Microsoft
MSFT
$3.69T
$21M 0.68%
133,420
-1,650
-1% -$242K
IGSB icon
11
iShares 1-5 Year Investment Grade Corporate Bond ETF
IGSB
$23.4B
$15.2M 0.49%
282,539
– –
AMZN icon
12
Amazon
AMZN
$2.87T
$14.5M 0.47%
157,200
+5,000
+3% +$443K
META icon
13
Meta Platforms (Facebook)
META
$1.52T
$10.9M 0.35%
52,930
+450
+0.9% +$87.2K
JPM icon
14
JPMorgan Chase
JPM
$966B
$10.2M 0.33%
73,410
-1,850
-2% -$237K
BRK.B icon
15
Berkshire Hathaway Class B
BRK.B
$1.09T
$9.99M 0.32%
44,100
+650
+1% +$141K
GOOGL icon
16
Alphabet (Google) Class A
GOOGL
$4.23T
$9.4M 0.3%
140,400
+2,000
+1% +$129K
JNJ icon
17
Johnson & Johnson
JNJ
$630B
$9.38M 0.3%
64,310
+2,340
+4% +$317K
V icon
18
Visa
V
$678B
$8.36M 0.27%
44,470
-1,160
-3% -$209K
UNH icon
19
UnitedHealth
UNH
$359B
$8.14M 0.26%
27,690
-640
-2% -$167K
BAC icon
20
Bank of America
BAC
$448B
$8.1M 0.26%
229,900
-8,270
-3% -$267K
PG icon
21
Procter & Gamble
PG
$336B
$7.92M 0.26%
63,390
-3,930
-6% -$481K
INTC icon
22
Intel
INTC
$527B
$7.81M 0.25%
130,470
+9,750
+8% +$546K
T icon
23
AT&T
T
$169B
$7.73M 0.25%
262,035
-14,101
-5% -$407K
MA icon
24
Mastercard
MA
$496B
$7.69M 0.25%
25,760
-870
-3% -$245K
XOM icon
25
ExxonMobil
XOM
$653B
$7.69M 0.25%
110,200
+9,750
+10% +$674K
1
2 3 4 5

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SFM
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AI
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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.