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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
DRH icon
701
Diamondrock Hospitality Co
DRH
$2.51B
$616K 0.02%
60,060
-180
-0.3% -$1.77K
GT icon
702
Goodyear
GT
$1.78B
$615K 0.02%
42,660
-270
-0.6% -$3.6K
RCKY icon
703
Rocky Brands
RCKY
$353M
$615K 0.02%
18,520
+5,090
+38% +$151K
SAM icon
704
Boston Beer
SAM
$1.9B
$615K 0.02%
1,690
+80
+5% +$31.4K
WBA
705
DELISTED
Walgreens Boots Alliance
WBA
$614K 0.02%
11,110
– –
LTC
706
LTC Properties
LTC
$2.1B
$613K 0.02%
11,970
+90
+0.8% +$4.34K
BBY icon
707
Best Buy
BBY
$18B
$612K 0.02%
8,880
– –
CDP icon
708
COPT Defense Properties
CDP
$4.23B
$612K 0.02%
20,540
+150
+0.7% +$4.25K
IBCP icon
709
Independent Bank Corp
IBCP
$854M
$612K 0.02%
28,710
– –
KWR icon
710
Quaker Houghton
KWR
$2.95B
$612K 0.02%
3,870
-120
-3% -$20.6K
EFOR
711
Everforth Inc
EFOR
$1.37B
$610K 0.02%
9,710
-30
-0.3% -$1.85K
FLR icon
712
Fluor
FLR
$7B
$609K 0.02%
31,840
-140
-0.4% -$3.34K
ABR icon
713
Arbor Realty Trust
ABR
$981M
$607K 0.02%
46,287
– –
CSTE icon
714
Caesarstone
CSTE
$105M
$606K 0.02%
36,470
– –
DHT icon
715
DHT Holdings
DHT
$3.09B
$606K 0.02%
98,470
– –
SYNH
716
DELISTED
Syneos Health, Inc. Class A Common Stock
SYNH
$606K 0.02%
11,390
+130
+1% +$6.67K
OZK icon
717
Bank OZK
OZK
$5.7B
$605K 0.02%
22,180
-170
-0.8% -$4.73K
NUVA
718
DELISTED
NuVasive, Inc.
NUVA
$605K 0.02%
9,550
– –
CBM
719
DELISTED
Cambrex Corporation
CBM
$603K 0.02%
10,140
+90
+0.9% +$4.82K
ASB icon
720
Associated Banc-Corp
ASB
$6.07B
$602K 0.02%
29,750
-470
-2% -$9.5K
OPLN
721
Openlane
OPLN
$4.33B
$601K 0.02%
+24,490
New +$627K
NSIT icon
722
Insight Enterprises
NSIT
$4.6B
$600K 0.02%
10,770
-9,970
-48% -$527K
MSM icon
723
MSC Industrial Direct
MSM
$6.77B
$599K 0.02%
8,260
-20
-0.2% -$1.4K
VIAB
724
DELISTED
Viacom Inc. Class B
VIAB
$597K 0.02%
24,840
– –
DGII icon
725
Digi International
DGII
$3.23B
$596K 0.02%
43,750
-6,780
-13% -$89.4K
27 28
29
30 31

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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.