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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
RWT
776
Redwood Trust
RWT
$599M
$552K 0.02%
33,630
+4,730
+16% +$79.1K
BOCH
777
DELISTED
Bank of Commerce Holdings (CA)
BOCH
$552K 0.02%
50,720
– –
MOS icon
778
The Mosaic Company
MOS
$6.92B
$551K 0.02%
26,840
– –
TRC icon
779
Tejon Ranch
TRC
$443M
$550K 0.02%
32,410
– –
VMI icon
780
Valmont Industries
VMI
$9.5B
$550K 0.02%
3,970
-60
-1% -$8.05K
PLXS icon
781
Plexus
PLXS
$7.04B
$549K 0.02%
8,780
-4,700
-35% -$279K
GRBK icon
782
Green Brick Partners
GRBK
$3.04B
$548K 0.02%
51,190
– –
CALY
783
Callaway Golf Company
CALY
$2.95B
$548K 0.02%
28,230
-5,370
-16% -$97.5K
SAFM
784
DELISTED
Sanderson Farms Inc
SAFM
$548K 0.02%
3,620
+20
+0.6% +$2.85K
AFL icon
785
Aflac
AFL
$60.7B
$547K 0.02%
10,460
+70
+0.7% +$3.7K
TKR icon
786
Timken Company
TKR
$9.1B
$546K 0.02%
12,560
-50
-0.4% -$2.21K
INVX
787
Innovex International
INVX
$2.15B
$546K 0.02%
10,880
– –
HOPE icon
788
Hope Bancorp
HOPE
$1.85B
$545K 0.02%
38,011
-6,190
-14% -$86.8K
TTWO icon
789
Take-Two Interactive
TTWO
$45.2B
$545K 0.02%
4,350
– –
ETRN
790
DELISTED
Equitrans Midstream Corporation Common Stock
ETRN
$545K 0.02%
37,430
-180
-0.5% -$2.77K
WDC icon
791
Western Digital
WDC
$168B
$544K 0.02%
12,082
+146
+1% +$6.23K
CSW
792
CSW Industrials
CSW
$5.59B
$542K 0.02%
7,850
– –
FWRD icon
793
Forward Air
FWRD
$682M
$541K 0.02%
8,490
-120
-1% -$7.35K
SEM
794
DELISTED
Select Medical
SEM
$541K 0.02%
60,561
+482
+0.8% +$4.21K
AN icon
795
AutoNation
AN
$6.89B
$540K 0.02%
10,660
– –
WAFD icon
796
WaFd
WAFD
$2.81B
$539K 0.02%
14,570
-290
-2% -$10.4K
HOMB icon
797
Home BancShares
HOMB
$6.27B
$537K 0.02%
28,570
-120
-0.4% -$2.24K
CTRA
798
DELISTED
Coterra Energy
CTRA
$536K 0.02%
30,520
– –
KTB icon
799
Kontoor Brands
KTB
$4.65B
$535K 0.02%
15,245
+130
+0.9% +$4.22K
LAND
800
Gladstone Land Corp
LAND
$358M
$534K 0.02%
44,880
– –
30 31
32
33 34

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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.