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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
LMAT icon
426
LeMaitre Vascular
LMAT
$1.87B
$864K 0.03%
25,270
– –
EGP icon
427
EastGroup Properties
EGP
$11B
$860K 0.03%
6,880
+140
+2% +$17.1K
BKH icon
428
Black Hills Corp
BKH
$5.64B
$859K 0.03%
11,200
+1,220
+12% +$95K
JJSF icon
429
J&J Snack Foods
JJSF
$1.7B
$858K 0.03%
4,470
-20
-0.4% -$3.63K
ASH icon
430
Ashland
ASH
$3.36B
$855K 0.03%
11,100
-480
-4% -$36.5K
HIW icon
431
Highwoods Properties
HIW
$3.51B
$855K 0.03%
19,030
-120
-0.6% -$5.26K
MLR icon
432
Miller Industries
MLR
$640M
$853K 0.03%
25,610
– –
SRCL
433
DELISTED
Stericycle Inc
SRCL
$852K 0.03%
16,720
+960
+6% +$44.7K
JBGS
434
JBG SMITH
JBGS
$692M
$849K 0.03%
21,650
-410
-2% -$16K
AVT icon
435
Avnet
AVT
$7.87B
$846K 0.03%
19,010
-1,040
-5% -$44.9K
SNX icon
436
TD Synnex
SNX
$20.4B
$846K 0.03%
14,994
-340
-2% -$15.9K
AOS icon
437
A.O. Smith
AOS
$8.49B
$845K 0.03%
17,710
– –
SPGI icon
438
S&P Global
SPGI
$125B
$843K 0.03%
3,440
– –
SSD icon
439
Simpson Manufacturing
SSD
$8B
$840K 0.03%
12,110
+40
+0.3% +$2.6K
SHOO icon
440
Steven Madden
SHOO
$3.46B
$838K 0.03%
23,420
+40
+0.2% +$1.32K
ZTS icon
441
Zoetis
ZTS
$31.3B
$837K 0.03%
6,720
+90
+1% +$10.9K
CVBF icon
442
CVB Financial
CVBF
$4.08B
$834K 0.03%
39,940
+9,380
+31% +$196K
FFIN icon
443
First Financial Bankshares
FFIN
$5.04B
$831K 0.03%
24,920
-160
-0.6% -$5.04K
CETV
444
DELISTED
Central European Media Enterprises Ltd
CETV
$831K 0.03%
184,870
– –
ALE
445
DELISTED
Allete
ALE
$829K 0.03%
9,480
-50
-0.5% -$4.3K
FISV
446
Fiserv Inc
FISV
$29.5B
$829K 0.03%
8,000
+2,580
+48% +$263K
AIN icon
447
Albany International
AIN
$1.82B
$828K 0.03%
9,180
-1,090
-11% -$90.5K
BHF icon
448
Brighthouse Financial
BHF
$3.42B
$827K 0.03%
20,440
-1,130
-5% -$42.1K
BIIB icon
449
Biogen
BIIB
$31.1B
$827K 0.03%
3,550
– –
TITN icon
450
Titan Machinery
TITN
$420M
$826K 0.03%
57,620
– –
16 17
18
19 20

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SFM
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AI
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PEA
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SUT
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MU
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WPL
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PVI
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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.