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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
GVA icon
1276
Granite Construction
GVA
$5.41B
$277K 0.01%
8,630
– –
STC icon
1277
Stewart Information Services
STC
$2.07B
$277K 0.01%
7,140
+70
+1% +$2.61K
VMC icon
1278
Vulcan Materials
VMC
$36B
$277K 0.01%
1,830
– –
ECPG icon
1279
Encore Capital Group
ECPG
$2.15B
$276K 0.01%
8,290
-7,580
-48% -$266K
PDCO
1280
DELISTED
Patterson Companies, Inc.
PDCO
$276K 0.01%
15,490
+220
+1% +$4.11K
VRSN icon
1281
VeriSign
VRSN
$26B
$275K 0.01%
1,460
– –
FNJN
1282
DELISTED
Finjan Holdings, Inc.
FNJN
$275K 0.01%
137,660
– –
TTSH
1283
DELISTED
Tile Shop Holdings
TTSH
$274K 0.01%
86,080
-15,880
-16% -$48.5K
BSET icon
1284
Bassett Furniture
BSET
$170M
$273K 0.01%
17,840
– –
FSP
1285
Franklin Street Properties
FSP
$46.4M
$273K 0.01%
32,300
-23,490
-42% -$184K
SXI icon
1286
Standex International
SXI
$3.97B
$273K 0.01%
3,740
-1,220
-25% -$84.6K
CLX icon
1287
Clorox
CLX
$12.9B
$272K 0.01%
1,790
+30
+2% +$4.74K
RMD icon
1288
ResMed
RMD
$32.9B
$272K 0.01%
2,010
+40
+2% +$5.24K
MKC icon
1289
McCormick & Company Non-Voting
MKC
$14.6B
$269K 0.01%
3,440
+60
+2% +$4.82K
MDP
1290
DELISTED
Meredith Corporation
MDP
$269K 0.01%
7,350
-40
-0.5% -$1.86K
OSG
1291
Octave Specialty Group
OSG
$212M
$268K 0.01%
13,710
+200
+1% +$3.67K
GFF icon
1292
Griffon
GFF
$4.8B
$268K 0.01%
12,780
-8,170
-39% -$146K
MBUU icon
1293
Malibu Boats
MBUU
$573M
$267K 0.01%
8,690
– –
ALOT icon
1294
AstroNova
ALOT
$227M
$266K 0.01%
16,460
– –
SKT icon
1295
Tanger
SKT
$4.42B
$266K 0.01%
17,160
-210
-1% -$3.28K
UNIT
1296
Uniti Group
UNIT
$2.38B
$266K 0.01%
34,220
+1,590
+5% +$13.2K
USNA icon
1297
Usana Health Sciences
USNA
$252M
$265K 0.01%
+3,870
New +$260K
QEP
1298
DELISTED
QEP RESOURCES, INC.
QEP
$264K 0.01%
71,380
+28,510
+67% +$136K
SIG icon
1299
Signet Jewelers
SIG
$3.6B
$263K 0.01%
15,680
+6,280
+67% +$98.7K
USCR
1300
DELISTED
U S Concrete, Inc.
USCR
$263K 0.01%
4,760
+50
+1% +$2.34K
50 51
52
53 54

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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.