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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
IPGP icon
1626
IPG Photonics
IPGP
$3.65B
$65K ﹤0.01%
480
– –
CBL
1627
DELISTED
CBL& Associates Properties, Inc.
CBL
$65K ﹤0.01%
50,250
– –
SPOK icon
1628
Spok Holdings
SPOK
$230M
$64K ﹤0.01%
5,370
-230
-4% -$2.97K
GEOS icon
1629
Geospace Technologies
GEOS
$65.8M
$63K ﹤0.01%
4,080
– –
GHL
1630
DELISTED
Greenhill & Co., Inc.
GHL
$63K ﹤0.01%
4,770
-470
-9% -$6.72K
AAOI icon
1631
Applied Optoelectronics
AAOI
$11.7B
$62K ﹤0.01%
5,520
– –
SENEA icon
1632
Seneca Foods Class A
SENEA
$1.32B
$62K ﹤0.01%
1,980
– –
BBWI icon
1633
Bath & Body Works
BBWI
$3.67B
$60K ﹤0.01%
3,798
– –
LQDT icon
1634
Liquidity Services
LQDT
$1.32B
$60K ﹤0.01%
8,070
+370
+5% +$2.56K
AMG icon
1635
Affiliated Managers Group
AMG
$9.58B
$59K ﹤0.01%
710
– –
HP icon
1636
Helmerich & Payne
HP
$4.32B
$59K ﹤0.01%
1,470
– –
UNT
1637
DELISTED
UNIT Corporation
UNT
$56K ﹤0.01%
16,620
+430
+3% +$2.12K
KLXE icon
1638
KLX Energy Services
KLXE
$36.6M
$54K ﹤0.01%
1,260
-72
-5% -$4.8K
TRIP icon
1639
TripAdvisor
TRIP
$1.24B
$53K ﹤0.01%
1,380
– –
HPR
1640
DELISTED
HighPoint Resources Corporation
HPR
$52K ﹤0.01%
658
-629
-49% -$43.8K
UAA icon
1641
Under Armour
UAA
$2.29B
$50K ﹤0.01%
2,520
– –
UA icon
1642
Under Armour Class C
UA
$2.23B
$47K ﹤0.01%
2,581
– –
MAC icon
1643
Macerich
MAC
$7.03B
$45K ﹤0.01%
1,420
– –
BELFB
1644
Bel Fuse Inc Class B
BELFB
$4.25B
$44K ﹤0.01%
2,950
-3,650
-55% -$50.6K
COTY icon
1645
Coty
COTY
$2.43B
$44K ﹤0.01%
4,160
– –
TWI icon
1646
Titan International
TWI
$449M
$40K ﹤0.01%
14,650
-28,330
-66% -$93.2K
ACOR
1647
DELISTED
Acorda Therapeutics
ACOR
$34K ﹤0.01%
99
-104
-51% -$56.5K
VSI
1648
DELISTED
Vitamin Shoppe Inc.
VSI
$31K ﹤0.01%
4,790
-119,410
-96% -$671K
DF
1649
DELISTED
Dean Foods Company
DF
$31K ﹤0.01%
26,600
– –
LXU icon
1650
LSB Industries
LXU
$709M
$30K ﹤0.01%
7,449
– –
64 65
66
67 68

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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.