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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
WSO icon
326
Watsco Inc
WSO
$12.9B
$1.01M 0.04%
5,980
+40
+0.7% +$6.49K
DXPE icon
327
DXP Enterprises
DXPE
$3.02B
$1.01M 0.04%
29,030
-3,130
-10% -$105K
SYF icon
328
Synchrony
SYF
$26.1B
$1M 0.04%
29,340
– –
LHCG
329
DELISTED
LHC Group LLC
LHCG
$1M 0.04%
8,817
+80
+0.9% +$9.64K
INGR icon
330
Ingredion
INGR
$6.65B
$1M 0.04%
12,240
-90
-0.7% -$7.14K
KBAL
331
DELISTED
Kimball International
KBAL
$996K 0.04%
51,590
– –
CDNS icon
332
Cadence Design Systems
CDNS
$89.4B
$995K 0.04%
15,070
+60
+0.4% +$4.22K
AWR icon
333
American States Water
AWR
$3.51B
$993K 0.04%
11,050
+50
+0.5% +$4.2K
CHTR icon
334
Charter Communications
CHTR
$18.3B
$993K 0.04%
2,410
+10
+0.4% +$4.04K
BLD
335
DELISTED
TopBuild
BLD
$992K 0.04%
10,290
-2,410
-19% -$213K
NEM icon
336
Newmont
NEM
$120B
$991K 0.04%
26,150
+270
+1% +$10.5K
ITT icon
337
ITT
ITT
$19.3B
$988K 0.04%
16,140
-20
-0.1% -$1.21K
AYI icon
338
Acuity Brands
AYI
$10.8B
$987K 0.04%
7,320
-60
-0.8% -$7.82K
ATVI
339
DELISTED
Activision Blizzard
ATVI
$986K 0.04%
18,630
+170
+0.9% +$8.48K
WAT icon
340
Waters Corp
WAT
$40.7B
$985K 0.04%
4,410
– –
THG icon
341
Hanover Insurance
THG
$7.74B
$984K 0.04%
7,260
-240
-3% -$31.5K
EXEL icon
342
Exelixis
EXEL
$12.6B
$983K 0.04%
55,570
+80
+0.1% +$1.62K
LECO icon
343
Lincoln Electric
LECO
$15.3B
$983K 0.04%
11,330
-360
-3% -$30.3K
CELG
344
DELISTED
Celgene Corp
CELG
$983K 0.04%
9,900
+170
+2% +$16.2K
FITB
345
Fifth Third Bancorp
FITB
$52.7B
$982K 0.04%
35,870
– –
NCLH icon
346
Norwegian Cruise Line
NCLH
$8.83B
$981K 0.04%
18,950
– –
DUK icon
347
Duke Energy
DUK
$96.8B
$980K 0.04%
10,220
+150
+1% +$13.7K
CTS icon
348
CTS Corp
CTS
$1.8B
$977K 0.04%
30,200
-4,460
-13% -$133K
PRI icon
349
Primerica
PRI
$9.61B
$977K 0.04%
7,680
-190
-2% -$22.9K
WSM icon
350
Williams-Sonoma
WSM
$28.7B
$976K 0.04%
28,700
-940
-3% -$31.1K
12 13
14
15 16

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SFM
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AI
Ariel Investments Chicago, Illinois $8.93B AUM 29.58% 1-Year Est. Return
HI
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PEA
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SUT
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MU
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WPL
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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.