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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
COKE icon
976
Coca-Cola Consolidated
COKE
$12.7B
$425K 0.02%
14,000
+100
+0.7% +$3.13K
FFWM
977
DELISTED
First Foundation Inc
FFWM
$425K 0.02%
27,800
– –
FTNT icon
978
Fortinet
FTNT
$121B
$425K 0.02%
27,700
– –
ECOL
979
DELISTED
US Ecology, Inc.
ECOL
$425K 0.02%
6,650
+50
+0.8% +$3.08K
NPO icon
980
Enpro
NPO
$7.12B
$424K 0.02%
6,180
-2,230
-27% -$145K
VPG icon
981
Vishay Precision Group
VPG
$908M
$424K 0.02%
12,960
– –
VC icon
982
Visteon
VC
$2.86B
$423K 0.02%
5,130
-30
-0.6% -$2K
AVB icon
983
AvalonBay Communities
AVB
$26.3B
$422K 0.02%
1,960
+40
+2% +$8.36K
TWTR
984
DELISTED
Twitter, Inc.
TWTR
$422K 0.02%
10,250
+230
+2% +$9.4K
ACRE
985
Ares Commercial Real Estate
ACRE
$264M
$421K 0.02%
27,650
– –
APT icon
986
Alpha Pro Tech
APT
$55.7M
$421K 0.02%
116,670
– –
WEC icon
987
WEC Energy
WEC
$35.9B
$421K 0.02%
4,423
+80
+2% +$7.21K
WHG icon
988
Westwood Holdings Group
WHG
$184M
$421K 0.02%
15,200
– –
HWKN icon
989
Hawkins
HWKN
$2.67B
$420K 0.02%
19,780
+14,020
+243% +$307K
THC icon
990
Tenet Healthcare
THC
$21.5B
$420K 0.02%
18,980
+3,600
+23% +$76.7K
SFM icon
991
Sprouts Farmers Market
SFM
$7.71B
$419K 0.02%
21,670
-1,280
-6% -$23.5K
ADAM
992
Adamas Trust
ADAM
$907M
$418K 0.02%
17,178
+1,953
+13% +$48.1K
RL icon
993
Ralph Lauren
RL
$23.1B
$418K 0.02%
4,380
– –
TT icon
994
Trane Technologies
TT
$105B
$418K 0.02%
3,390
+40
+1% +$4.88K
UE icon
995
Urban Edge Properties
UE
$2.78B
$418K 0.02%
21,120
-810
-4% -$14.4K
EIG icon
996
Employers Holdings
EIG
$871M
$417K 0.02%
9,580
-200
-2% -$8.68K
LRN icon
997
Stride
LRN
$3.48B
$416K 0.02%
15,740
– –
EGOV
998
DELISTED
NIC Inc
EGOV
$416K 0.02%
20,160
+310
+2% +$6.06K
AMWD
999
DELISTED
American Woodmark
AMWD
$415K 0.02%
4,670
-1,440
-24% -$119K
CNOB icon
1000
Center Bancorp
CNOB
$1.81B
$415K 0.02%
18,710
– –
38 39
40
41 42

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SFM
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AI
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PEA
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SUT
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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.