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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
BMTC
826
DELISTED
Bryn Mawr Bank Corp
BMTC
$510K 0.02%
13,960
– –
ALRM icon
827
Alarm.com
ALRM
$2.72B
$509K 0.02%
10,910
+390
+4% +$19.1K
TPR icon
828
Tapestry
TPR
$25.9B
$509K 0.02%
19,540
– –
GATX icon
829
GATX Corp
GATX
$6.34B
$508K 0.02%
6,550
-220
-3% -$16.8K
PBF icon
830
PBF Energy
PBF
$8.81B
$508K 0.02%
18,700
-3,460
-16% -$88.4K
ALL icon
831
Allstate
ALL
$64.7B
$506K 0.02%
4,660
– –
CADE
832
DELISTED
Cadence Bank
CADE
$506K 0.02%
17,090
+320
+2% +$9.13K
FNKO icon
833
Funko
FNKO
$331M
$506K 0.02%
24,590
– –
PCH
834
DELISTED
PotlatchDeltic
PCH
$506K 0.02%
12,324
-220
-2% -$8.53K
R icon
835
Ryder
R
$10.1B
$506K 0.02%
9,780
-40
-0.4% -$2.09K
UTMD icon
836
Utah Medical Products
UTMD
$230M
$506K 0.02%
5,280
– –
ACHC icon
837
Acadia Healthcare
ACHC
$2.95B
$505K 0.02%
16,240
-110
-0.7% -$3.35K
MMSI icon
838
Merit Medical Systems
MMSI
$5.45B
$505K 0.02%
16,570
+150
+0.9% +$6.07K
FLOW
839
DELISTED
SPX FLOW, Inc.
FLOW
$505K 0.02%
12,810
-3,970
-24% -$149K
F icon
840
Ford
F
$55.4B
$504K 0.02%
55,010
+880
+2% +$8.36K
TCBI icon
841
Texas Capital Bancshares
TCBI
$4.38B
$504K 0.02%
9,230
-60
-0.6% -$3.42K
WABC icon
842
Westamerica Bancorp
WABC
$1.38B
$504K 0.02%
8,110
+70
+0.9% +$4.34K
CMD
843
DELISTED
Cantel Medical Corporation
CMD
$504K 0.02%
6,740
+30
+0.4% +$2.54K
MZTI
844
The Marzetti Company
MZTI
$3.18B
$503K 0.02%
3,630
+20
+0.6% +$2.98K
DOW icon
845
Dow Inc
DOW
$21.9B
$501K 0.02%
10,511
+100
+1% +$4.68K
MSBI icon
846
Midland States Bancorp
MSBI
$698M
$501K 0.02%
19,240
– –
USPH icon
847
US Physical Therapy
USPH
$1.22B
$501K 0.02%
3,840
+60
+2% +$7.81K
EQT icon
848
EQT Corp
EQT
$33.8B
$499K 0.02%
46,870
-230
-0.5% -$2.96K
HWM icon
849
Howmet Aerospace
HWM
$112B
$499K 0.02%
25,050
– –
LGIH icon
850
LGI Homes
LGIH
$1.32B
$499K 0.02%
5,990
+440
+8% +$33.6K
32 33
34
35 36

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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
SC US (TTGP) Menlo Park, California $9.25B AUM 20.49% 1-Year Est. Return
MU
Mirova US Boston, Massachusetts $8.81B AUM 21.38% 1-Year Est. Return
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.