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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
SYK icon
376
Stryker
SYK
$131B
$941K 0.04%
4,350
+70
+2% +$15K
DD icon
377
DuPont de Nemours
DD
$19.5B
$940K 0.04%
10,498
+80
+0.8% +$7.04K
KE
378
Kimball Electronics
KE
$626M
$936K 0.04%
64,480
– –
CONN
379
DELISTED
Conn's Inc.
CONN
$933K 0.04%
37,540
-7,450
-17% -$157K
EV
380
DELISTED
Eaton Vance Corp.
EV
$932K 0.04%
20,740
-550
-3% -$23.8K
FHN icon
381
First Horizon
FHN
$12.3B
$929K 0.04%
57,330
-1,510
-3% -$23.9K
OGS icon
382
ONE Gas
OGS
$5.09B
$929K 0.04%
9,670
-50
-0.5% -$4.56K
PII icon
383
Polaris
PII
$3.91B
$928K 0.04%
10,540
-50
-0.5% -$4.34K
CFR icon
384
Cullen/Frost Bankers
CFR
$10.5B
$926K 0.04%
10,460
-1,190
-10% -$105K
MAN icon
385
ManpowerGroup
MAN
$2.75B
$925K 0.04%
10,980
-180
-2% -$15.7K
MKSI icon
386
MKS Inc
MKSI
$20.7B
$923K 0.04%
10,000
-20
-0.2% -$1.65K
ADC icon
387
Agree Realty
ADC
$9.34B
$921K 0.04%
12,590
+1,350
+12% +$94.3K
FR icon
388
First Industrial Realty Trust
FR
$8.4B
$918K 0.04%
23,210
-200
-0.9% -$7.67K
HIBB
389
DELISTED
Hibbett, Inc. Common Stock
HIBB
$918K 0.04%
40,090
-4,680
-10% -$85.3K
SKX
390
DELISTED
Skechers
SKX
$917K 0.04%
24,540
-140
-0.6% -$4.8K
WH icon
391
Wyndham Hotels & Resorts
WH
$5.51B
$915K 0.04%
17,690
-410
-2% -$22.4K
NATI
392
DELISTED
National Instruments Corp
NATI
$915K 0.04%
21,780
+1,000
+5% +$42.9K
JBL icon
393
Jabil
JBL
$38.8B
$913K 0.03%
25,530
-500
-2% -$15.1K
HE icon
394
Hawaiian Electric Industries
HE
$2.04B
$912K 0.03%
19,990
-150
-0.7% -$6.67K
SJI
395
DELISTED
South Jersey Industries, Inc.
SJI
$912K 0.03%
27,720
+110
+0.4% +$3.59K
COHR icon
396
Coherent
COHR
$64B
$911K 0.03%
25,868
+5,828
+29% +$222K
IP icon
397
International Paper
IP
$21.8B
$910K 0.03%
22,979
+106
+0.5% +$4.14K
JBLU icon
398
JetBlue
JBLU
$2.19B
$910K 0.03%
54,350
-2,320
-4% -$42.1K
SWX icon
399
Southwest Gas
SWX
$6.67B
$909K 0.03%
9,990
+180
+2% +$16.2K
AES icon
400
AES
AES
$10.5B
$905K 0.03%
55,360
– –
14 15
16
17 18

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SFM
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AI
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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.