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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
SMBK icon
676
SmartFinancial
SMBK
$899M
$636K 0.02%
30,550
– –
DVA icon
677
DaVita
DVA
$11.4B
$634K 0.02%
11,110
+80
+0.7% +$4.65K
MYGN icon
678
Myriad Genetics
MYGN
$303M
$633K 0.02%
22,100
+180
+0.8% +$5.25K
PGR icon
679
Progressive
PGR
$121B
$633K 0.02%
8,200
+110
+1% +$8.65K
XLNX
680
DELISTED
Xilinx Inc
XLNX
$633K 0.02%
6,600
+50
+0.8% +$5.47K
XRN
681
Chiron Real Estate Inc
XRN
$484M
$632K 0.02%
11,096
– –
SWKS icon
682
Skyworks Solutions
SWKS
$10.5B
$632K 0.02%
7,980
– –
EZPW icon
683
Ezcorp Inc
EZPW
$1.76B
$631K 0.02%
97,820
– –
TXRH icon
684
Texas Roadhouse
TXRH
$13.6B
$630K 0.02%
12,000
-330
-3% -$17.5K
WM icon
685
Waste Management
WM
$89.6B
$630K 0.02%
5,480
+80
+1% +$9.34K
NVT icon
686
nVent Electric
NVT
$27.5B
$629K 0.02%
28,540
-1,280
-4% -$28.8K
ILMN icon
687
Illumina
ILMN
$29.1B
$627K 0.02%
2,118
+21
+1% +$6.19K
SHW icon
688
Sherwin-Williams
SHW
$87.8B
$627K 0.02%
3,420
+30
+0.9% +$5.1K
VSEC icon
689
VSE Corp
VSEC
$6.48B
$626K 0.02%
18,350
– –
MUR icon
690
Murphy Oil
MUR
$4.99B
$625K 0.02%
28,280
-1,800
-6% -$38.7K
ROIC
691
DELISTED
Retail Opportunity Investments Corp.
ROIC
$625K 0.02%
34,300
+200
+0.6% +$3.58K
HAL icon
692
Halliburton
HAL
$27.4B
$623K 0.02%
33,070
+270
+0.8% +$5.59K
AXE
693
DELISTED
Anixter International Inc
AXE
$623K 0.02%
9,010
-8,360
-48% -$512K
WWE
694
DELISTED
World Wrestling Entertainment
WWE
$621K 0.02%
8,730
+660
+8% +$47.3K
ESE icon
695
ESCO Technologies
ESE
$7.79B
$620K 0.02%
7,790
-1,370
-15% -$109K
IRDM icon
696
Iridium Communications
IRDM
$5.27B
$619K 0.02%
29,080
– –
AXON
697
Axon Enterprise
AXON
$50B
$617K 0.02%
10,870
-6,730
-38% -$425K
EGHT icon
698
8x8 Inc
EGHT
$303M
$617K 0.02%
29,790
+1,180
+4% +$28.6K
TGNA
699
DELISTED
TEGNA Inc
TGNA
$617K 0.02%
39,750
-150
-0.4% -$2.27K
CRAI icon
700
CRA International
CRAI
$1.07B
$616K 0.02%
14,680
– –
26 27
28
29 30

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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.