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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
REI icon
1651
Ring Energy
REI
$354M
$29K ﹤0.01%
17,470
– –
FTR
1652
DELISTED
Frontier Communications Corp.
FTR
$27K ﹤0.01%
31,500
– –
ASRT
1653
DELISTED
Assertio
ASRT
$24K ﹤0.01%
312
– –
NWS icon
1654
News Corp Class B
NWS
$17.7B
$24K ﹤0.01%
1,660
– –
GIFI
1655
DELISTED
Gulf Island Fabrication
GIFI
$22K ﹤0.01%
4,150
– –
SPB icon
1656
Spectrum Brands
SPB
$2.03B
$5K ﹤0.01%
+94
New +$4.9K
NEP
1657
DELISTED
CHINA NORTH EAST PETROLEUM HLDGS LTD
NEP
$5K ﹤0.01%
30,200
– –
LLEN
1658
DELISTED
L & L ENERGY INC COM STK (NV)
LLEN
$1K ﹤0.01%
48,200
– –
CARS icon
1659
Cars.com
CARS
$648M
– –
-11,420
Closed -$225K
CQP icon
1660
Cheniere Energy
CQP
$33.3B
– –
-173,410
Closed -$7.31M
GEL icon
1661
Genesis Energy
GEL
$1.94B
– –
-312,930
Closed -$6.85M
KOPN icon
1662
Kopin
KOPN
$933M
– –
-20,070
Closed -$22K
NGL icon
1663
NGL Energy Partners
NGL
$2.12B
– –
-611,900
Closed -$9.04M
SUP
1664
DELISTED
Superior Industries International
SUP
– –
-6,560
Closed -$23K
NS
1665
DELISTED
NuStar Energy L.P.
NS
– –
-267,810
Closed -$7.27M
BFX
1666
DELISTED
BowFlex Inc.
BFX
– –
-8,570
Closed -$19K
HEP
1667
DELISTED
Holly Energy Partners, L.P.
HEP
– –
-222,860
Closed -$6.13M
CEQP
1668
DELISTED
Crestwood Equity Partners LP
CEQP
– –
-220,050
Closed -$7.87M
SHLX
1669
DELISTED
Shell Midstream Partners, L.P.
SHLX
– –
-343,630
Closed -$7.12M
ENBL
1670
DELISTED
ENABLE MIDSTREAM PARTNERS, LP
ENBL
– –
-437,240
Closed -$6M
TCP
1671
DELISTED
TC Pipelines LP
TCP
– –
-198,780
Closed -$7.48M
MNK
1672
DELISTED
MALLINCKRODT PUBLIC LIMITED COMPANY
MNK
– –
-15,080
Closed -$138K
LKSD
1673
DELISTED
LSC Communications, Inc.
LKSD
– –
-9,770
Closed -$36K
ASNA
1674
DELISTED
Ascena Retail Group, Inc.
ASNA
– –
-2,497
Closed -$30K
OLBK
1675
DELISTED
Old Line Bancshares, Inc.
OLBK
– –
-16,310
Closed -$434K
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
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.