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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
FIX icon
876
Comfort Systems
FIX
$61.2B
$489K 0.02%
11,060
+30
+0.3% +$1.31K
MLI icon
877
Mueller Industries
MLI
$15.1B
$489K 0.02%
68,240
-35,640
-34% -$250K
STZ icon
878
Constellation Brands
STZ
$22.9B
$487K 0.02%
2,350
+40
+2% +$8.03K
YUM icon
879
Yum! Brands
YUM
$41B
$487K 0.02%
4,290
+60
+1% +$6.86K
HRB icon
880
H&R Block
HRB
$6.87B
$486K 0.02%
20,600
– –
MAR icon
881
Marriott International
MAR
$92.5B
$486K 0.02%
3,904
– –
GPI icon
882
Group 1 Automotive
GPI
$3.17B
$484K 0.02%
5,240
+50
+1% +$4.11K
MATX icon
883
Matsons
MATX
$6.41B
$484K 0.02%
12,900
+90
+0.7% +$3.42K
CATY icon
884
Cathay General Bancorp
CATY
$4.31B
$483K 0.02%
13,910
-130
-0.9% -$4.53K
NBTB icon
885
NBT Bancorp
NBTB
$2.78B
$482K 0.02%
13,180
+100
+0.8% +$3.66K
CBT icon
886
Cabot Corp
CBT
$4.45B
$480K 0.02%
10,600
-340
-3% -$14.7K
EVC icon
887
Entravision Communication
EVC
$820M
$479K 0.02%
+150,770
New +$475K
WKC icon
888
World Kinect Corp
WKC
$1.89B
$479K 0.02%
11,990
-430
-3% -$16.4K
CZR icon
889
Caesars Entertainment
CZR
$6.04B
$478K 0.02%
11,980
-50
-0.4% -$2.12K
NOV icon
890
NOV
NOV
$7.45B
$477K 0.02%
22,490
– –
UNM icon
891
Unum
UNM
$14.5B
$477K 0.02%
16,050
– –
WD icon
892
Walker & Dunlop
WD
$1.45B
$477K 0.02%
8,520
+190
+2% +$10.7K
NAVI icon
893
Navient
NAVI
$829M
$476K 0.02%
37,210
-3,020
-8% -$40.3K
BY icon
894
Byline Bancorp
BY
$1.78B
$475K 0.02%
26,540
– –
KALU icon
895
Kaiser Aluminum
KALU
$2.99B
$475K 0.02%
4,800
-1,240
-21% -$117K
MCO icon
896
Moody's
MCO
$82.8B
$475K 0.02%
2,320
+30
+1% +$6.29K
RYAM icon
897
Rayonier Advanced Materials
RYAM
$561M
$475K 0.02%
109,580
-11,250
-9% -$48.1K
VTOL icon
898
Bristow Group
VTOL
$1.36B
$474K 0.02%
22,410
-4,770
-18% -$92K
AEO icon
899
American Eagle Outfitters
AEO
$2.72B
$473K 0.02%
29,140
-1,580
-5% -$26.4K
RIG icon
900
Transocean
RIG
$6.39B
$472K 0.02%
105,510
+11,890
+13% +$63.1K
34 35
36
37 38

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VAS
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SFM
Soros Fund Management New York $9.12B AUM 30.69% 1-Year Est. Return
AI
Ariel Investments Chicago, Illinois $8.93B AUM 29.58% 1-Year Est. Return
PEA
Platinum Equity Advisors Beverly Hills, California $8.88B AUM 27.09% 1-Year Est. Return
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.