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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
EBS icon
601
Emergent Biosolutions
EBS
$230M
$688K 0.03%
13,160
-320
-2% -$14.9K
FNB icon
602
FNB Corp
FNB
$6.88B
$687K 0.03%
59,600
-390
-0.7% -$4.41K
APD icon
603
Air Products & Chemicals
APD
$68B
$686K 0.03%
3,090
+50
+2% +$11.3K
EXLS icon
604
EXL Service
EXLS
$5.36B
$686K 0.03%
51,250
-100
-0.2% -$1.33K
KMB icon
605
Kimberly-Clark
KMB
$36.8B
$686K 0.03%
4,830
+60
+1% +$8.24K
MEDP icon
606
Medpace
MEDP
$16.2B
$684K 0.03%
8,140
-3,010
-27% -$227K
TECD
607
DELISTED
Tech Data Corp
TECD
$681K 0.03%
6,530
-370
-5% -$36.1K
AIG icon
608
American International
AIG
$39.8B
$680K 0.03%
12,210
+170
+1% +$9.39K
CLGX
609
DELISTED
Corelogic, Inc.
CLGX
$680K 0.03%
14,700
+10
+0.1% +$460
EQIX icon
610
Equinix
EQIX
$106B
$678K 0.03%
1,176
+20
+2% +$10.7K
CADE
611
DELISTED
Cadence Bancorporation
CADE
$677K 0.03%
+38,620
New +$661K
DINO icon
612
HF Sinclair
DINO
$16.3B
$676K 0.03%
12,590
– –
WEN icon
613
Wendy's
WEN
$1.65B
$676K 0.03%
33,850
+220
+0.7% +$4.39K
COHR
614
DELISTED
Coherent Inc
COHR
$676K 0.03%
4,400
-100
-2% -$14.5K
CTRE icon
615
CareTrust REIT
CTRE
$9.18B
$674K 0.03%
28,670
+370
+1% +$8.69K
UCB
616
United Community Banks
UCB
$4.43B
$673K 0.03%
23,730
-8,360
-26% -$229K
WTFC icon
617
Wintrust Financial
WTFC
$11B
$672K 0.03%
10,400
-50
-0.5% -$3.32K
ACIW icon
618
ACI Worldwide
ACIW
$5.42B
$671K 0.03%
21,410
-60
-0.3% -$1.9K
RYN icon
619
Rayonier
RYN
$6.54B
$671K 0.03%
26,211
-176
-0.7% -$4.51K
GTLS
620
DELISTED
Chart Industries
GTLS
$670K 0.03%
10,740
+1,290
+14% +$87.4K
NSC icon
621
Norfolk Southern
NSC
$75.9B
$670K 0.03%
3,730
+30
+0.8% +$5.52K
BNED icon
622
Barnes & Noble Education
BNED
$424M
$669K 0.03%
2,146
-291
-12% -$102K
SANM icon
623
Sanmina
SANM
$11.1B
$668K 0.03%
20,790
+320
+2% +$9.82K
PSB
624
DELISTED
PS Business Parks, Inc.
PSB
$668K 0.03%
3,670
-20
-0.5% -$3.53K
PEB icon
625
Pebblebrook Hotel Trust
PEB
$2.05B
$667K 0.03%
23,970
-160
-0.7% -$4.39K
23 24
25
26 27

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VAS
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SFM
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AI
Ariel Investments Chicago, Illinois $8.93B AUM 29.58% 1-Year Est. Return
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.