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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
+1.02%
1 Year Est. Return
+13.04%
3 Year Est. Return
+34.61%
5 Year Est. Return
+23.86%
10 Year Est. Return
–
AUM
$2.62B
AUM Growth
+$1.18B
Cap. Flow
+$1.18B
Cap. Flow %
45.1%
Top 10 Hldgs %
33.55%
Holding
1,716
New
55
Increased
626
Reduced
537
Closed
38

Top Buys

Rank Stock Value
1
IVV icon
iShares Core S&P 500 ETF
IVV
+$344M
2
SPTI icon
State Street SPDR Portfolio Intermediate Term Treasury ETF
SPTI
+$117M
3
STIP icon
iShares 0-5 Year TIPS Bond ETF
STIP
+$59.9M
4
MBB icon
iShares MBS ETF
MBB
+$50.2M
5
FLRN icon
State Street SPDR Bloomberg Investment Grade Floating Rate ETF
FLRN
+$45.1M

Top Sells

Rank Stock Value
1
NGL icon
NGL Energy Partners
NGL
+$9.04M
2
CEQP
Crestwood Equity Partners LP
CEQP
+$7.87M
3
TCP
TC Pipelines LP
TCP
+$7.48M
4
CQP icon
Cheniere Energy
CQP
+$7.31M
5
NS
NuStar Energy L.P.
NS
+$7.27M

Sector Composition

Rank Sector Weight
1 Financials 8.75%
2 Technology 7.96%
3 Industrials 7.51%
4 Consumer Discretionary 5.82%
5 Healthcare 5.81%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
LOW icon
226
Lowe's Companies
LOW
$121B
$1.22M 0.05%
11,100
– –
UHS icon
227
Universal Health Services
UHS
$10.1B
$1.22M 0.05%
8,210
– –
CHE icon
228
Chemed
CHE
$7.07B
$1.22M 0.05%
2,920
-30
-1% -$12.2K
DCI icon
229
Donaldson
DCI
$11B
$1.22M 0.05%
23,400
-250
-1% -$12.4K
RS icon
230
Reliance Steel & Aluminium
RS
$21.8B
$1.22M 0.05%
12,230
-170
-1% -$16.6K
FAF icon
231
First American
FAF
$7.43B
$1.21M 0.05%
20,570
-40
-0.2% -$2.29K
ACC
232
DELISTED
American Campus Communities, Inc.
ACC
$1.21M 0.05%
25,210
-130
-0.5% -$6.14K
XPO icon
233
XPO
XPO
$24.8B
$1.21M 0.05%
48,893
-405
-0.8% -$9.36K
SEDG icon
234
SolarEdge
SEDG
$1.96B
$1.21M 0.05%
14,390
+1,110
+8% +$82.8K
DNKN
235
DELISTED
Dunkin' Brands Group, Inc.
DNKN
$1.21M 0.05%
15,180
-100
-0.7% -$8.12K
AVY icon
236
Avery Dennison
AVY
$13.5B
$1.2M 0.05%
10,590
– –
FORM icon
237
FormFactor
FORM
$10.6B
$1.2M 0.05%
64,400
-7,310
-10% -$125K
KLAC icon
238
KLA
KLAC
$279B
$1.2M 0.05%
75,300
– –
STLD icon
239
Steel Dynamics
STLD
$37.6B
$1.2M 0.05%
40,290
-2,150
-5% -$63.5K
SBNY
240
DELISTED
Signature Bank
SBNY
$1.2M 0.05%
10,040
-150
-1% -$18.2K
FCN icon
241
FTI Consulting
FCN
$4.16B
$1.19M 0.05%
11,260
-2,940
-21% -$300K
CKH
242
DELISTED
Seacor Holdings Inc.
CKH
$1.19M 0.05%
25,330
-2,000
-7% -$94.7K
VFC icon
243
VF Corp
VFC
$5.72B
$1.19M 0.05%
13,360
+110
+0.8% +$9.4K
CZR
244
DELISTED
Caesars Entertainment Corporation
CZR
$1.19M 0.05%
101,960
-5,830
-5% -$68.4K
ANIK icon
245
Anika Therapeutics
ANIK
$287M
$1.19M 0.05%
21,600
-110
-0.5% -$5.65K
CRL icon
246
Charles River Laboratories
CRL
$13.6B
$1.19M 0.05%
8,950
+30
+0.3% +$4.02K
EMN icon
247
Eastman Chemical
EMN
$8.38B
$1.19M 0.05%
16,050
– –
EWBC icon
248
East-West Bancorp
EWBC
$18.6B
$1.18M 0.05%
26,700
-100
-0.4% -$4.39K
HAE icon
249
Haemonetics
HAE
$4.15B
$1.17M 0.04%
9,310
-120
-1% -$15.2K
LYB icon
250
LyondellBasell Industries
LYB
$20.3B
$1.17M 0.04%
13,110
-400
-3% -$32.6K
8 9
10
11 12

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SFM
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AI
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HI
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PEA
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Municipal Employees' Retirement System of Michigan's Q3 2019 Portfolio in Review

As of Q3 2019, Municipal Employees' Retirement System of Michigan held 1,716 positions worth $2.62B, up 83% from $1.43B the previous quarter. Its ten largest holdings account for 34% of the portfolio.

Municipal Employees' Retirement System of Michigan deployed $1.18B of net new capital in Q3 2019, opening 55 new positions and adding to 626 existing holdings. Its largest new stake was iShares Core S&P 500 ETF: 1,158,671 shares worth $346M.

By sector, the portfolio is most concentrated in Financials at 8.8% of assets, down from 16% a quarter earlier, followed by Technology and Industrials.

On the sell side, the largest reduction was MarketAxess Holdings, an estimated $2.31M trimmed.

  • Municipal Employees' Retirement System of Michigan's largest Q3 2019 buy was iShares Core S&P 500 ETF: 1,158,671 shares worth $346M.
  • Municipal Employees' Retirement System of Michigan added most to Foot Locker in Q3 2019, an estimated $748K increase.
  • Municipal Employees' Retirement System of Michigan's biggest Q3 2019 reduction was MarketAxess Holdings, cutting an estimated $2.31M.
  • Municipal Employees' Retirement System of Michigan fully exited NGL Energy Partners in Q3 2019, selling an estimated $9.04M.
  • Municipal Employees' Retirement System of Michigan's ten largest holdings make up 34% of its $2.62B portfolio in Q3 2019.
  • Municipal Employees' Retirement System of Michigan opened 55 new positions and closed 38 in Q3 2019.
  • Municipal Employees' Retirement System of Michigan's portfolio value rose 83% quarter-over-quarter to $2.62B.

Based on Municipal Employees' Retirement System of Michigan's 13F filing for Q3 2019, filed 29 Oct 2019.