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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
INGN icon
1301
Inogen
INGN
$154M
$262K 0.01%
5,460
+2,150
+65% +$112K
EXPE icon
1302
Expedia Group
EXPE
$39.4B
$261K 0.01%
1,940
+340
+21% +$44.9K
RCL icon
1303
Royal Caribbean
RCL
$82.9B
$261K 0.01%
2,410
+50
+2% +$5.5K
RSG icon
1304
Republic Services
RSG
$65.9B
$261K 0.01%
3,020
+40
+1% +$3.52K
FRD icon
1305
Friedman Industries
FRD
$319M
$260K 0.01%
40,070
– –
EXTR icon
1306
Extreme Networks
EXTR
$3.16B
$259K 0.01%
35,580
+650
+2% +$4.7K
FAST icon
1307
Fastenal
FAST
$58.9B
$259K 0.01%
15,860
– –
MSCI icon
1308
MSCI
MSCI
$41.8B
$259K 0.01%
1,190
– –
LMNX
1309
DELISTED
Luminex Corp
LMNX
$259K 0.01%
12,530
+150
+1% +$3.12K
ZAGG
1310
DELISTED
ZAGG Inc Common Stock (Delaware)
ZAGG
$259K 0.01%
41,290
– –
DBD
1311
DELISTED
Diebold Nixdorf Incorporated
DBD
$258K 0.01%
23,070
+270
+1% +$3.2K
CHD icon
1312
Church & Dwight Co
CHD
$24B
$257K 0.01%
3,410
– –
KEYS icon
1313
Keysight
KEYS
$60.5B
$257K 0.01%
2,640
+60
+2% +$5.56K
GAP
1314
The Gap Inc
GAP
$7.34B
$256K 0.01%
14,750
– –
CLDT
1315
Chatham Lodging
CLDT
$601M
$255K 0.01%
14,030
+160
+1% +$2.84K
CMS icon
1316
CMS Energy
CMS
$22.1B
$255K 0.01%
3,980
+80
+2% +$4.86K
MCS icon
1317
Marcus Corp
MCS
$929M
$255K 0.01%
6,900
+490
+8% +$16.9K
TBI
1318
Trueblue
TBI
$309M
$255K 0.01%
12,100
-10,600
-47% -$219K
TILE icon
1319
Interface
TILE
$2.24B
$253K 0.01%
17,530
-180
-1% -$2.35K
PARR icon
1320
Par Pacific Holdings
PARR
$4.12B
$252K 0.01%
11,020
+2,060
+23% +$45.6K
CNC icon
1321
Centene
CNC
$32.6B
$251K 0.01%
5,800
+120
+2% +$5.84K
FARO
1322
DELISTED
Faro Technologies
FARO
$251K 0.01%
5,190
+50
+1% +$2.52K
CNX icon
1323
CNX Resources
CNX
$5.23B
$250K 0.01%
34,410
-2,450
-7% -$18.3K
MMI icon
1324
Marcus & Millichap
MMI
$1.2B
$250K 0.01%
7,040
+660
+10% +$22.5K
BBBY
1325
DELISTED
Bed Bath & Beyond Inc
BBBY
$249K 0.01%
23,440
-1,730
-7% -$16.7K
51 52
53
54 55

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SFM
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AI
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PEA
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SUT
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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.