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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
PFBC icon
451
Preferred Bank
PFBC
$1.28B
$825K 0.03%
15,750
– –
COR
452
DELISTED
Coresite Realty Corporation
COR
$825K 0.03%
6,770
-20
-0.3% -$2.29K
PRLB icon
453
Protolabs
PRLB
$2.21B
$824K 0.03%
8,070
– –
ARI
454
Apollo Commercial Real Estate
ARI
$886M
$821K 0.03%
42,840
+2,200
+5% +$41.5K
WPX
455
DELISTED
WPX Energy, Inc.
WPX
$821K 0.03%
77,490
+4,420
+6% +$46.6K
EE
456
DELISTED
El Paso Electric Company
EE
$821K 0.03%
12,240
+50
+0.4% +$3.32K
BC icon
457
Brunswick
BC
$5.29B
$820K 0.03%
15,730
-360
-2% -$17.2K
IFF icon
458
International Flavors & Fragrances
IFF
$21.4B
$820K 0.03%
6,680
– –
RH icon
459
RH
RH
$3.4B
$820K 0.03%
4,800
-780
-14% -$111K
SIGI icon
460
Selective Insurance
SIGI
$5.59B
$819K 0.03%
10,890
-6,750
-38% -$521K
LSTR icon
461
Landstar System
LSTR
$6.4B
$818K 0.03%
7,270
-150
-2% -$16.5K
CATO icon
462
Cato Corp
CATO
$66.7M
$817K 0.03%
46,380
-5,650
-11% -$84.8K
DFIN icon
463
Donnelley Financial Solutions
DFIN
$1.22B
$817K 0.03%
66,340
-8,250
-11% -$102K
FLO icon
464
Flowers Foods
FLO
$1.6B
$817K 0.03%
35,310
+1,390
+4% +$32.2K
KNX icon
465
Knight Transportation
KNX
$11.9B
$817K 0.03%
22,520
-390
-2% -$13.6K
CNMD icon
466
CONMED
CNMD
$1.49B
$816K 0.03%
8,490
+740
+10% +$69.5K
BLKB icon
467
Blackbaud
BLKB
$2.1B
$815K 0.03%
9,020
+40
+0.4% +$3.56K
ANGO icon
468
AngioDynamics
ANGO
$647M
$814K 0.03%
44,240
-6,810
-13% -$133K
SR icon
469
Spire
SR
$4.9B
$813K 0.03%
9,320
-60
-0.6% -$5.06K
COR icon
470
Cencora
COR
$59.2B
$809K 0.03%
9,830
– –
CI icon
471
Cigna
CI
$73.5B
$808K 0.03%
5,324
+60
+1% +$9.77K
AMN icon
472
AMN Healthcare
AMN
$1.34B
$807K 0.03%
14,020
– –
CHDN icon
473
Churchill Downs
CHDN
$6.2B
$807K 0.03%
13,080
+20
+0.2% +$1.21K
COLB icon
474
Columbia Banking Systems
COLB
$9.18B
$807K 0.03%
21,880
-40
-0.2% -$1.43K
FSLR icon
475
First Solar
FSLR
$24B
$807K 0.03%
13,920
-40
-0.3% -$2.56K
17 18
19
20 21

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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.