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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
B
551
DELISTED
Barnes Group Inc.
B
$734K 0.03%
14,240
-2,550
-15% -$128K
SHOE
552
Shoe Station Group
SHOE
$415M
$733K 0.03%
45,240
-5,240
-10% -$72.8K
SF
553
Stifel
SF
$12.9B
$733K 0.03%
28,733
-1,170
-4% -$29.4K
HII icon
554
Huntington Ingalls Industries
HII
$12.8B
$731K 0.03%
3,450
– –
SIX
555
DELISTED
Six Flags Entertainment Corp.
SIX
$731K 0.03%
14,390
+1,180
+9% +$64K
CVLG icon
556
Covenant Logistics
CVLG
$880M
$730K 0.03%
88,840
– –
ICE icon
557
Intercontinental Exchange
ICE
$87.2B
$730K 0.03%
7,910
+40
+0.5% +$3.65K
MOD icon
558
Modine Manufacturing
MOD
$10.8B
$729K 0.03%
64,160
– –
ROCC
559
DELISTED
Ranger Oil Corporation Class A Common Stock
ROCC
$729K 0.03%
25,100
+14,740
+142% +$457K
AGN
560
DELISTED
Allergan plc
AGN
$729K 0.03%
4,331
– –
CLH icon
561
Clean Harbors
CLH
$16.9B
$728K 0.03%
9,430
+30
+0.3% +$2.22K
DCO icon
562
Ducommun
DCO
$3.01B
$728K 0.03%
17,160
+2,860
+20% +$123K
SAIA icon
563
Saia
SAIA
$10.1B
$728K 0.03%
7,770
+40
+0.5% +$3.17K
HELE icon
564
Helen of Troy
HELE
$699M
$727K 0.03%
4,610
-120
-3% -$17.8K
ABM icon
565
ABM Industries
ABM
$2.82B
$724K 0.03%
19,930
+130
+0.7% +$5.05K
AKR icon
566
Acadia Realty Trust
AKR
$2.86B
$724K 0.03%
25,340
+950
+4% +$26.5K
CIVI
567
DELISTED
Civitas Resources
CIVI
$724K 0.03%
32,330
-6,000
-16% -$133K
FFBC icon
568
First Financial Bancorp
FFBC
$3.6B
$724K 0.03%
29,570
-4,350
-13% -$105K
WWW icon
569
Wolverine World Wide
WWW
$1.63B
$723K 0.03%
25,580
-6,400
-20% -$172K
FCFS icon
570
FirstCash
FCFS
$9.14B
$722K 0.03%
7,880
-5,147
-40% -$511K
MAT icon
571
Mattel
MAT
$4.25B
$722K 0.03%
63,390
-470
-0.7% -$5.38K
SXC icon
572
SunCoke Energy
SXC
$788M
$721K 0.03%
127,740
-6,580
-5% -$47.4K
GMED icon
573
Globus Medical
GMED
$11.5B
$719K 0.03%
14,060
-20
-0.1% -$953
SFNC icon
574
Simmons First National
SFNC
$3.46B
$719K 0.03%
28,880
+1,260
+5% +$30.9K
MRSH
575
Marsh
MRSH
$90B
$718K 0.03%
7,180
+180
+3% +$18K
21 22
23
24 25

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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.