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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
FRT icon
1526
Federal Realty Investment Trust
FRT
$10.3B
$140K 0.01%
1,030
– –
OSUR icon
1527
OraSure Technologies
OSUR
$264M
$140K 0.01%
18,690
+320
+2% +$2.5K
MTRX icon
1528
Matrix Service
MTRX
$331M
$138K 0.01%
8,080
+140
+2% +$2.64K
WU icon
1529
Western Union
WU
$2.27B
$138K 0.01%
5,950
– –
OSPN icon
1530
OneSpan
OSPN
$613M
$136K 0.01%
9,350
– –
URI icon
1531
United Rentals
URI
$69.5B
$136K 0.01%
1,090
– –
LKQ icon
1532
LKQ Corp
LKQ
$6.27B
$135K 0.01%
4,280
– –
NPK icon
1533
National Presto Industries
NPK
$995M
$134K 0.01%
1,500
– –
HAYN
1534
DELISTED
Haynes International, Inc.
HAYN
$134K 0.01%
3,740
– –
JBHT icon
1535
JB Hunt Transport Services
JBHT
$26.4B
$133K 0.01%
1,200
– –
GL icon
1536
Globe Life
GL
$14B
$132K 0.01%
1,380
– –
VTLE
1537
DELISTED
Vital Energy
VTLE
$131K 0.01%
2,708
-937
-26% -$51.8K
PAHC icon
1538
Phibro Animal Health
PAHC
$1.38B
$130K 0.01%
6,110
+70
+1% +$1.92K
LDL
1539
DELISTED
Lydall, Inc.
LDL
$130K 0.01%
5,230
– –
RRGB icon
1540
Red Robin
RRGB
$192M
$129K ﹤0.01%
3,880
– –
CNR
1541
Core Natural Resources Inc
CNR
$4.67B
$128K ﹤0.01%
8,210
-2,670
-25% -$52.3K
PGNX
1542
DELISTED
Progenics Pharmaceuticals Inc
PGNX
$128K ﹤0.01%
25,290
– –
CHUY
1543
DELISTED
Chuy's Holdings, Inc. Common Stock
CHUY
$126K ﹤0.01%
5,070
– –
AVD icon
1544
American Vanguard Corp
AVD
$65.2M
$125K ﹤0.01%
7,950
– –
CPB icon
1545
Campbell Soup
CPB
$6.91B
$125K ﹤0.01%
2,670
– –
CYH icon
1546
Community Health Systems
CYH
$417M
$125K ﹤0.01%
34,770
– –
DDS icon
1547
Dillards
DDS
$9.21B
$124K ﹤0.01%
1,870
-1,480
-44% -$94.7K
CUTR
1548
DELISTED
Cutera, Inc.
CUTR
$124K ﹤0.01%
4,230
+70
+2% +$1.92K
DISCK
1549
DELISTED
Discovery, Inc. Series C Common Stock
DISCK
$123K ﹤0.01%
4,994
– –
KIM icon
1550
Kimco Realty
KIM
$16.3B
$122K ﹤0.01%
5,840
– –
60 61
62
63 64

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VAS
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SFM
Soros Fund Management New York $9.12B AUM 30.69% 1-Year Est. Return
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
Mirova US Boston, Massachusetts $8.81B AUM 21.38% 1-Year Est. Return
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.