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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
MMS icon
401
Maximus
MMS
$2.94B
$905K 0.03%
11,710
-90
-0.8% -$6.83K
HMSY
402
DELISTED
HMS Holdings Corp.
HMSY
$904K 0.03%
26,240
-5,840
-18% -$211K
BEN icon
403
Franklin Resources
BEN
$17.2B
$903K 0.03%
31,290
– –
KEX icon
404
Kirby Corp
KEX
$7.26B
$903K 0.03%
10,990
+1,030
+10% +$78.9K
SO icon
405
Southern Company
SO
$107B
$902K 0.03%
14,610
+280
+2% +$16.2K
LSI
406
DELISTED
Life Storage, Inc.
LSI
$902K 0.03%
12,840
-90
-0.7% -$6.12K
SHAK icon
407
Shake Shack
SHAK
$2.98B
$900K 0.03%
9,180
+1,410
+18% +$125K
UNF icon
408
Unifirst Corp
UNF
$5.21B
$900K 0.03%
4,610
-1,430
-24% -$277K
OMCL icon
409
Omnicell
OMCL
$1.72B
$898K 0.03%
12,420
+220
+2% +$16.1K
KMPR icon
410
Kemper
KMPR
$1.59B
$896K 0.03%
11,490
+240
+2% +$19.2K
PB icon
411
Prosperity Bancshares
PB
$8.97B
$895K 0.03%
12,670
+400
+3% +$26.9K
STRA icon
412
Strategic Education
STRA
$1.86B
$895K 0.03%
6,588
+80
+1% +$13.6K
CMA
413
DELISTED
Comerica
CMA
$891K 0.03%
13,490
– –
HZO icon
414
MarineMax
HZO
$1.15B
$891K 0.03%
57,550
+7,800
+16% +$119K
LAD icon
415
Lithia Motors
LAD
$8.32B
$891K 0.03%
6,730
+50
+0.7% +$6.39K
UAL icon
416
United Airlines
UAL
$41B
$891K 0.03%
10,080
– –
CWCO icon
417
Consolidated Water Co
CWCO
$502M
$889K 0.03%
53,900
– –
ONB icon
418
Old National Bancorp
ONB
$10.4B
$889K 0.03%
51,670
-10
-0% -$171
EME icon
419
Emcor
EME
$36.7B
$887K 0.03%
10,300
-50
-0.5% -$4.25K
SLAB icon
420
Silicon Laboratories
SLAB
$7.28B
$885K 0.03%
7,950
-20
-0.3% -$2.17K
AGCO icon
421
AGCO
AGCO
$6.96B
$879K 0.03%
11,610
-270
-2% -$19.8K
BOOT icon
422
Boot Barn
BOOT
$4.92B
$879K 0.03%
25,180
-2,860
-10% -$95.2K
TSCO icon
423
Tractor Supply
TSCO
$18.8B
$879K 0.03%
48,600
– –
SKYW icon
424
Skywest
SKYW
$4.21B
$877K 0.03%
15,280
-170
-1% -$9.98K
TTEK icon
425
Tetra Tech
TTEK
$9.33B
$870K 0.03%
50,150
-32,450
-39% -$530K
15 16
17
18 19

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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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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.