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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
MLKN icon
851
MillerKnoll
MLKN
$1.64B
$499K 0.02%
10,830
+10
+0.1% +$440
NBN icon
852
Northeast Bank
NBN
$1.15B
$499K 0.02%
22,490
– –
XNCR icon
853
Xencor
XNCR
$1.72B
$499K 0.02%
+14,780
New +$590K
ACA icon
854
Arcosa
ACA
$7.12B
$498K 0.02%
14,550
– –
CSII
855
DELISTED
Cardiovascular Systems, Inc.
CSII
$498K 0.02%
10,490
+70
+0.7% +$3.29K
CRCM
856
DELISTED
CARE.COM, INC.
CRCM
$498K 0.02%
47,590
-5,220
-10% -$53.7K
FF icon
857
Future Fuel
FF
$249M
$497K 0.02%
41,600
-12,080
-23% -$138K
KAMN
858
DELISTED
Kaman Corp
KAMN
$497K 0.02%
8,360
-3,300
-28% -$198K
CVCO icon
859
Cavco Industries
CVCO
$4.6B
$496K 0.02%
2,580
-670
-21% -$119K
BLMN icon
860
Bloomin' Brands
BLMN
$975M
$495K 0.02%
26,160
-1,140
-4% -$20.3K
MINI
861
DELISTED
Mobile Mini Inc
MINI
$494K 0.02%
13,410
+100
+0.8% +$3.26K
DAL icon
862
Delta Air Lines
DAL
$59.1B
$493K 0.02%
8,560
– –
DKS icon
863
Dick's Sporting Goods
DKS
$18.1B
$493K 0.02%
12,090
-1,550
-11% -$55.8K
FONR
864
DELISTED
Fonar
FONR
$493K 0.02%
23,860
– –
FULT icon
865
Fulton Financial
FULT
$4.67B
$493K 0.02%
30,500
-910
-3% -$14.8K
GNK icon
866
Genco Shipping & Trading
GNK
$1.1B
$493K 0.02%
53,570
– –
GNL icon
867
Global Net Lease
GNL
$1.9B
$493K 0.02%
25,260
+180
+0.7% +$3.51K
IPI icon
868
Intrepid Potash
IPI
$490M
$493K 0.02%
15,082
+4,996
+50% +$167K
NTAP icon
869
NetApp
NTAP
$39.6B
$493K 0.02%
9,380
– –
NWBI icon
870
Northwest Bancshares
NWBI
$2.31B
$493K 0.02%
30,080
-6,410
-18% -$107K
SPSC icon
871
SPS Commerce
SPSC
$2.86B
$493K 0.02%
10,470
-150
-1% -$7.61K
UCFC
872
DELISTED
United Community Financial Corp
UCFC
$493K 0.02%
45,690
– –
DIOD icon
873
Diodes
DIOD
$4.93B
$491K 0.02%
12,230
-3,660
-23% -$142K
FDX icon
874
FedEx
FDX
$77.3B
$491K 0.02%
3,370
+40
+1% +$6.45K
PDCE
875
DELISTED
PDC Energy, Inc.
PDCE
$490K 0.02%
17,670
-8,350
-32% -$250K
33 34
35
36 37

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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.