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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
PATK icon
1251
Patrick Industries
PATK
$2.78B
$289K 0.01%
10,103
-30
-0.3% -$832
ENTA icon
1252
Enanta Pharmaceuticals
ENTA
$391M
$288K 0.01%
4,800
+90
+2% +$6.68K
ODP
1253
DELISTED
ODP
ODP
$287K 0.01%
16,368
-15,247
-48% -$263K
BIG
1254
DELISTED
Big Lots, Inc.
BIG
$287K 0.01%
11,700
-8,710
-43% -$207K
TIVO
1255
DELISTED
Tivo Inc
TIVO
$287K 0.01%
37,630
+460
+1% +$3.52K
NTRS icon
1256
Northern Trust
NTRS
$34.8B
$286K 0.01%
3,060
+60
+2% +$5.51K
WY icon
1257
Weyerhaeuser
WY
$17.9B
$286K 0.01%
10,338
– –
VAL
1258
DELISTED
Valaris plc Class A Ordinary Share
VAL
$286K 0.01%
+59,370
New +$319K
DDD icon
1259
3D Systems Corp
DDD
$601M
$285K 0.01%
34,960
+900
+3% +$7.26K
AHRT
1260
AH Realty Trust
AHRT
$506M
$284K 0.01%
15,710
+650
+4% +$11.3K
DBI icon
1261
Designer Brands
DBI
$312M
$283K 0.01%
16,550
-710
-4% -$12K
FTV icon
1262
Fortive
FTV
$18.7B
$283K 0.01%
6,557
+143
+2% +$6.59K
UVE icon
1263
Universal Insurance Holdings
UVE
$1.18B
$283K 0.01%
9,430
-130
-1% -$3.55K
USAK
1264
DELISTED
USA Truck Inc
USAK
$283K 0.01%
35,260
– –
NTCT icon
1265
NETSCOUT
NTCT
$2.89B
$282K 0.01%
12,250
-700
-5% -$16.7K
WERN icon
1266
Werner Enterprises
WERN
$2.31B
$282K 0.01%
7,990
– –
BXP icon
1267
Boston Properties
BXP
$11B
$281K 0.01%
2,170
+50
+2% +$6.5K
MLAB icon
1268
Mesa Laboratories
MLAB
$633M
$281K 0.01%
+1,180
New +$273K
SPPI
1269
DELISTED
Spectrum Pharmaceuticals Inc
SPPI
$281K 0.01%
33,860
+2,440
+8% +$19.7K
PFSW
1270
DELISTED
PFSweb, Inc.
PFSW
$281K 0.01%
110,920
– –
MCY icon
1271
Mercury Insurance
MCY
$5.81B
$280K 0.01%
5,010
– –
HNI icon
1272
HNI Corp
HNI
$3.56B
$279K 0.01%
7,870
-60
-0.8% -$1.99K
EBIX
1273
DELISTED
Ebix Inc
EBIX
$279K 0.01%
6,620
+60
+0.9% +$2.52K
DLHC icon
1274
DLH Holdings
DLHC
$68.7M
$278K 0.01%
61,430
– –
DCH
1275
Dauch Corp
DCH
$1.6B
$277K 0.01%
33,700
+420
+1% +$3.82K
49 50
51
52 53

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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.