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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
AMPH icon
1401
Amphastar Pharmaceuticals
AMPH
$858M
$205K 0.01%
10,340
+40
+0.4% +$833
COO icon
1402
Cooper Companies
COO
$14.9B
$205K 0.01%
2,760
+40
+1% +$3.23K
CRVL icon
1403
CorVel
CRVL
$3.25B
$205K 0.01%
8,130
– –
M icon
1404
Macy's
M
$6.27B
$205K 0.01%
13,220
– –
MAA icon
1405
Mid-America Apartment Communities
MAA
$15.6B
$205K 0.01%
1,580
– –
ANIP icon
1406
ANI Pharmaceuticals
ANIP
$1.72B
$203K 0.01%
2,790
+230
+9% +$17.2K
BR icon
1407
Broadridge
BR
$19.6B
$203K 0.01%
1,630
+30
+2% +$3.86K
SSTK icon
1408
Shutterstock
SSTK
$217M
$203K 0.01%
5,620
+80
+1% +$2.94K
MAGN
1409
Magnera Corp
MAGN
$433M
$203K 0.01%
1,013
– –
ORIT
1410
DELISTED
Oritani Financial Corp. New
ORIT
$203K 0.01%
11,480
+150
+1% +$2.62K
LNW
1411
DELISTED
Light & Wonder
LNW
$202K 0.01%
9,910
-320
-3% -$6.31K
WLH
1412
DELISTED
WILLIAM LYON HOMES
WLH
$202K 0.01%
9,940
+160
+2% +$2.99K
CPS icon
1413
Cooper-Standard Automotive
CPS
$484M
$201K 0.01%
4,910
+60
+1% +$2.51K
GPC icon
1414
Genuine Parts
GPC
$18.7B
$201K 0.01%
2,020
– –
DOV icon
1415
Dover
DOV
$27.8B
$200K 0.01%
2,010
– –
MCHB
1416
Mechanics Bancorp
MCHB
$3.79B
$200K 0.01%
7,320
-720
-9% -$20K
HSTM icon
1417
HealthStream
HSTM
$849M
$200K 0.01%
7,710
+100
+1% +$2.68K
TTEC icon
1418
TTEC Holdings
TTEC
$77.4M
$200K 0.01%
4,180
+50
+1% +$2.34K
DGX icon
1419
Quest Diagnostics
DGX
$26.1B
$199K 0.01%
1,860
– –
MODV
1420
DELISTED
ModivCare
MODV
$199K 0.01%
3,340
+50
+2% +$2.85K
SNEX icon
1421
StoneX
SNEX
$8.05B
$199K 0.01%
24,503
+355
+1% +$2.78K
CEVA icon
1422
CEVA Inc
CEVA
$855M
$198K 0.01%
6,620
+70
+1% +$2.04K
MGM icon
1423
MGM Resorts International
MGM
$11.1B
$198K 0.01%
7,160
+150
+2% +$4.31K
AEGN
1424
DELISTED
Aegion Corp
AEGN
$198K 0.01%
9,270
-6,170
-40% -$119K
CYTK icon
1425
Cytokinetics
CYTK
$10.2B
$197K 0.01%
17,270
– –
55 56
57
58 59

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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.