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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
SRDX
1451
DELISTED
Surmodics
SRDX
$184K 0.01%
4,020
– –
WAB icon
1452
Wabtec
WAB
$50.2B
$184K 0.01%
2,557
+360
+16% +$25.6K
WCG
1453
DELISTED
Wellcare Health Plans, Inc.
WCG
$184K 0.01%
710
+20
+3% +$5.52K
INCY icon
1454
Incyte
INCY
$24.3B
$183K 0.01%
2,460
– –
CPE
1455
DELISTED
Callon Petroleum Company
CPE
$183K 0.01%
4,213
– –
BANC icon
1456
Banc of California
BANC
$3.12B
$182K 0.01%
12,900
+140
+1% +$2.02K
UNFI icon
1457
United Natural Foods
UNFI
$2.9B
$182K 0.01%
15,790
+510
+3% +$4.87K
CBOE icon
1458
Cboe Global Markets
CBOE
$30.6B
$178K 0.01%
1,550
– –
ANET icon
1459
Arista Networks
ANET
$263B
$177K 0.01%
11,840
+320
+3% +$4.95K
BKE icon
1460
Buckle
BKE
$2.3B
$177K 0.01%
8,600
-4,310
-33% -$82.8K
CUBI icon
1461
Customers Bancorp
CUBI
$2.82B
$177K 0.01%
8,540
– –
EXPD icon
1462
Expeditors International
EXPD
$24.2B
$177K 0.01%
2,380
– –
HAFC icon
1463
Hanmi Financial
HAFC
$959M
$177K 0.01%
9,400
– –
IT icon
1464
Gartner
IT
$11.3B
$177K 0.01%
1,240
– –
HLIT icon
1465
Harmonic Inc
HLIT
$1.41B
$175K 0.01%
26,530
– –
IEX icon
1466
IDEX
IEX
$17.6B
$174K 0.01%
1,060
-12,950
-92% -$2.15M
MKTX icon
1467
MarketAxess Holdings
MKTX
$5.72B
$174K 0.01%
530
-6,440
-92% -$2.31M
SJM icon
1468
J.M. Smucker
SJM
$12.9B
$174K 0.01%
1,580
– –
CHRD icon
1469
Chord Energy
CHRD
$7.33B
$173K 0.01%
49,980
– –
LDOS icon
1470
Leidos
LDOS
$17.8B
$173K 0.01%
2,020
-25,000
-93% -$2.1M
QNST icon
1471
QuinStreet
QNST
$1.19B
$173K 0.01%
13,760
+2,190
+19% +$29.9K
UCTT
1472
Ultra Clean Holdings
UCTT
$4.29B
$173K 0.01%
11,850
+230
+2% +$3.19K
XRAY icon
1473
Dentsply Sirona
XRAY
$2.28B
$173K 0.01%
3,240
– –
JILL icon
1474
J. Jill
JILL
$281M
$172K 0.01%
18,086
– –
RMAX icon
1475
RE/MAX Holdings
RMAX
$262M
$172K 0.01%
5,360
-11,600
-68% -$329K
57 58
59
60 61

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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
HI
Horizon Investments Charlotte, North Carolina $8.92B AUM 25.62% 1-Year Est. Return
PEA
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SUT
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MU
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WPL
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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.