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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
VSTO
1576
DELISTED
Vista Outdoor Inc.
VSTO
$106K ﹤0.01%
17,150
– –
MHK icon
1577
Mohawk Industries
MHK
$9.27B
$105K ﹤0.01%
850
– –
NLSN
1578
DELISTED
Nielsen Holdings plc
NLSN
$105K ﹤0.01%
4,920
– –
CLW icon
1579
Clearwater Paper
CLW
$356M
$104K ﹤0.01%
4,920
– –
FBIN icon
1580
Fortune Brands Innovations
FBIN
$5.83B
$104K ﹤0.01%
2,223
– –
POWL icon
1581
Powell Industries
POWL
$7.58B
$103K ﹤0.01%
7,860
– –
CNSL
1582
DELISTED
Consolidated Communications Holdings, Inc.
CNSL
$103K ﹤0.01%
21,570
+680
+3% +$3.21K
PKE icon
1583
Park Aerospace
PKE
$828M
$101K ﹤0.01%
5,760
– –
PEI
1584
DELISTED
Pennsylvania Real Estate Investment Trust
PEI
$101K ﹤0.01%
1,183
– –
CENX icon
1585
Century Aluminum
CENX
$4.77B
$98K ﹤0.01%
14,760
– –
FORR icon
1586
Forrester Research
FORR
$220M
$98K ﹤0.01%
3,060
– –
FLIR
1587
DELISTED
FLIR Systems, Inc. (DE) Common Stock
FLIR
$98K ﹤0.01%
1,860
– –
UFI icon
1588
UNIFI
UFI
$127M
$95K ﹤0.01%
4,340
-4,470
-51% -$88.1K
IVZ icon
1589
Invesco
IVZ
$13.9B
$94K ﹤0.01%
5,530
– –
MPAA icon
1590
Motorcar Parts of America
MPAA
$230M
$94K ﹤0.01%
5,540
– –
NE
1591
DELISTED
Noble Corporation
NE
$94K ﹤0.01%
74,080
– –
NKTR icon
1592
Nektar Therapeutics
NKTR
$2.57B
$92K ﹤0.01%
339
– –
CENT icon
1593
Central Garden & Pet Co
CENT
$2.79B
$90K ﹤0.01%
3,863
– –
DSPG
1594
DELISTED
DSP Group Inc
DSPG
$90K ﹤0.01%
6,390
– –
SEE
1595
DELISTED
Sealed Air
SEE
$88K ﹤0.01%
2,110
– –
ACIC icon
1596
American Coastal Insurance
ACIC
$465M
$87K ﹤0.01%
6,230
-200
-3% -$2.58K
RES icon
1597
RPC Inc
RES
$1.4B
$87K ﹤0.01%
+15,450
New +$91.8K
LL
1598
DELISTED
LL Flooring Holdings, Inc.
LL
$84K ﹤0.01%
8,560
– –
DAKT icon
1599
Daktronics
DAKT
$997M
$83K ﹤0.01%
11,190
-660
-6% -$4.39K
TBRG
1600
DELISTED
TruBridge
TBRG
$83K ﹤0.01%
3,680
+100
+3% +$2.42K
62 63
64
65 66

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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
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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.